At our Bitcoin ATM in Montreal you can buy Bitcoin and other popular cryptocurrency, such as Ethereum and Litecoin, with cash. With one of Canada's largest network of Bitcoin ATMs, Localcoin is a Toronto-based company whose mission is to provide a simple buying & selling experience of digital currency for customers while upholding privacy standards.
Frequently Asked Questions About Localcoin Bitcoin ATM - Lee Discount House Inc
What is Localcoin?
Localcoin is Canada’s largest cryptocurrency ATM network that enables customers to buy cryptocurrency with cash at a physical location. Customers can visit one of our 950+ physical ATMs at our retail locations, composed primarily of convenience stores and gas stations.
What is Bitcoin?
Bitcoin is a decentralized digital currency, meaning it is not controlled by any government or central bank. Bitcoin can be used to buy goods and services online, and can also be held as an investment. Each Bitcoin is like a computer file that is stored in a 'digital wallet' app on a smartphone or computer. People can send Bitcoins to your digital wallet, and you can send Bitcoins to other people. Every single transaction is recorded in a public list called the blockchain.
What is a Bitcoin ATM?
A Bitcoin ATM is a machine that enables users to buy Bitcoin and other cryptocurrencies using cash. It functions similarly to a traditional ATM, enabling users to deposit cash and receive Bitcoin in their wallet, or sell bitcoin and receive cash.
How do I use a Bitcoin ATM?
Step 1: Get a Bitcoin Wallet:
We recommend the following easy-to-use Bitcoin wallets downloadable from your app store: Trust Wallet, Exodus or Coinbase Wallet
You'll need to take this wallet (or a printed QR code) with you, to the machine.
Step 2: Visit a Localcoin Bitcoin ATM
All you need is your wallet’s address, QR code and cash!
Step 3: At the Machine
a. Tap the machine's touchscreen, then read the on-screen prompt.
b. Select your desired cryptocurrency. (Bitcoin, Ethereum, LTC, etc.)
c. In your wallet, find the QR code. This tells the machine where to send your Bitcoin once you've confirmed your purchase.
d. Hold it up to the machine's camera and wait for it to be scanned.
Step 4: Purchasing Your Bitcoins
a. After scanning the QR code, insert your CAD bills.
b. Confirm the amount on the screen to complete your purchase.
c. Please note that there will be a service fee, which varies based on the Bitcoin market.
Step 5: Receiving Your Bitcoins
Once you've confirmed your purchase, your Bitcoins will be sent to the address you provided.
Transactions are usually instantaneous but may take anywhere between 10–30 minutes, or even 1–2 hours in rare cases.
What is a Bitcoin/Crypto Wallet and how do I get one?
A crypto wallet is a necessary part of holding and transacting crypto coins. To send or receive any kind of coin, you’ll need a secure wallet that’s just for cryptocurrency. These specialized wallets:
1. Exist to keep track of coin ownership
2. Help generate the public addresses you’ll need to make transactions.
3. Don’t hold your coins like a traditional wallet does; instead, your Bitcoin, Ether, Litecoin, etc. all exist on the blockchain — your crypto wallet simply gives you access to them.
You can download a crypto wallet from your app store, some easy-to-use mobile wallets include BRD Wallet, Bitpay, and Blockchain.
What are the limits for purchasing Bitcoin?
The minimum amount of Bitcoins (and other coins) you can buy from a Localcoin ATM is $20 CAD. The maximum is $995 per transaction, with at most 5 transactions per day.
What payment methods are accepted?
We only accept Canadian cash bills. For other payment methods such as debit/credit cards, you can purchase online by visiting our website at localcoinatm.com
What other cryptocurrency coins do you sell at your Bitcoin ATMs?
We sell Bitcoin, Litecoin, Ethereum, Cardano, Dogecoin, Shiba Inu, Ripple, USDC, and Tether at our ATMs.
What is Localcoin and what services does it provide?
Localcoin is Canada's largest cryptocurrency ATM network, allowing customers to buy cryptocurrencies like Bitcoin, Ethereum, and Litecoin with cash at physical ATMs located mainly in convenience stores and gas stations.
How can I use the Localcoin Bitcoin ATM to purchase cryptocurrency?
To use the Localcoin Bitcoin ATM, download a crypto wallet app like Trust Wallet or Coinbase Wallet, bring your wallet's QR code to the ATM, select your desired cryptocurrency, scan your QR code, insert Canadian cash, and confirm the transaction. Bitcoins are sent to your wallet usually within minutes.
What are the operating hours of the Localcoin Bitcoin ATM - Lee Discount House Inc in Westmount?
The Localcoin Bitcoin ATM in Westmount is open daily from 7:00 AM to 9:00 PM.
Which cryptocurrencies can I buy at the Localcoin Bitcoin ATM in Westmount?
You can purchase Bitcoin, Litecoin, Ethereum, Cardano, Dogecoin, Shiba Inu, Ripple, USDC, and Tether at the Localcoin Bitcoin ATM in Westmount.
What are the purchase limits for buying Bitcoin at this Localcoin ATM?
The minimum purchase amount is $20 CAD, and the maximum is $995 per transaction, with up to 5 transactions allowed per day.
What payment methods are accepted at Localcoin Bitcoin ATMs?
Localcoin Bitcoin ATMs accept only Canadian cash bills. Debit or credit card payments are not accepted at the ATMs but can be used for online purchases on their website.
Where is the Localcoin Bitcoin ATM located in Montreal?
The ATM is located at 4843 Rue Sherbrooke Ouest, Westmount, QC H3Z 1G6, Canada.
Are there other banking options nearby the Localcoin Bitcoin ATM in Westmount?
Yes, nearby banking options include RBC Royal Bank, Scotiabank, Banque Laurentienne, BMO Bank of Montreal, and Banque Scotia.
What nearby services can customers visit after using the Localcoin Bitcoin ATM?
Customers can visit nearby places such as Ristorante Donato for dining, Patisserie de Gascogne for bakery treats, and SAQ Sélection for liquor shopping after using the ATM.
How can nearby transit stations or landmarks aid in finding the Localcoin Bitcoin ATM?
While specific transit stations aren't listed, customers can find the ATM near landmarks such as RBC Royal Bank and Scotiabank in Westmount, making it easier to locate if you're shopping or banking nearby.