What are the fees for using a Bitcoin ATM in Australia?

Localcoin's fee ranges from 10-15%, varying based on the ATM's location. The fee is already integrated into the Bitcoin price displayed and confirmed on the machine. For more information, head over to the fees page.

Is ID verification required at Australian Bitcoin ATMs?

Yes, ID verification is always required when using Bitcoin ATMs in Australia. These machines typically follow "Know Your Customer" (KYC) and Anti-Money Laundering (AML) regulations, requiring users to verify their identity. Government-issued photo ID and sometimes a phone number are commonly requested during the verification process.

A Comprehensive Guide to Identity Verification with Localcoin

By -
October 6, 2023

In order to use a Localcoin ATM, it is essential that you first verify your identity. This measure is in place to safeguard against fraud, ensure compliance with regulatory standards, and create a secure environment for all users. Luckily, you have options to ensure that you can find the most convenient way for you to do so.

The two ways you can verify is:

Verify your identity before visiting a Bitcoin ATM in Australia
Verify your identity at a Localcoin Bitcoin ATM

This guide provides comprehensive directions on how to complete both methods of identification verification.

Requirements for User Identity Verification

To initiate the identity verification process, you'll need the following:

A government-issued photo ID such as an Australian Passport or a driver's license.
A cell phone capable of receiving text messages and taking photos.

Verify Your Identity Before Visiting the Bitcoin ATM

Here's a simplified summary of the steps to verify your identity on the Localcoin website before visiting an ATM:

Head to Localcoin's Website: Go to the Localcoin website and access the verify page found under the support section.
Terms and Conditions: Review and agree to Localcoin's terms and conditions to ensure you're comfortable with their stipulations.
Enter Personal Details: Provide your name and phone number, and select Australia as your country.
Enter Code Sent to Your Phone: Enter the one-time passcode sent to your phone.
Scan QR Code: Scan the QR code that is provided and continue on your mobile.
Take a photo of your government-issued photo ID: Hold your ID steady, ensuring good lighting, and capture clear photos of both the front and back.
Take a Selfie: Take a selfie using the built-in camera or upload one from your device, ensuring your face is clearly visible and matches the ID provided.
Potentially Disclose Your Occupation: You may need to verify your current occupation in the designated field.
Provide Address (If not using a driver's license): If your primary identification isn't a driver's license, which typically includes an address, you'll need to manually enter your current residential address.
Await Verification: After submitting all the necessary details, please wait while the system processes your information. The verification duration can range from as quick as one minute to up to 30 minutes, depending on server loads and other factors.
Receive SMS Notification: Once your identity is verified, you'll receive an SMS notification on the mobile number provided, confirming that you're all set to use the Localcoin ATM.

Verify your identity at a Localcoin Bitcoin ATM

Here is a breakdown of the process that you must complete in order to verify your identity while at a Localcoin ATM:

Start Using ATM: To get started, tap the start screen on the ATM.
Enter Number: Enter your phone number into the machine
Enter Code Sent to Your Phone: Enter the one-time passcode sent to your phone.
Scan QR Code: Scan the QR code that is provided and continue on your mobile.
Start Verification Process: Begin verification on your mobile with Veriff.
Take a Selfie: Allow access to your phone's camera and microphone and take a selfie using the built-in camera or upload one from your device, ensuring your face is clearly visible
Take a photo of your government-issued photo ID: Hold your ID steady, ensuring good lighting, and capture clear photos of both the front and back.
Await Verification: Wait while the system processes your information. The verification duration can range from as quick as one minute to up to 30 minutes, depending on server loads and other factors.
Receive SMS Notification: Once your identity is verified, you'll receive an SMS notification on the mobile number provided, confirming that you're all set to use the Localcoin ATM.

Please be aware that additional processing time may be required for some applications. In certain cases, Localcoin's Support Team may reach out to confirm additional details regarding your application.

Valuable Tips for User Identity Verification

To enhance your chances of a successful verification process, keep these tips in mind:

Ensure that your documents are valid and not expired.
Avoid wearing items like hats or clothing that obscure your face during the ID photo capture.
Verify that you are in a well-lit area when taking your ID photo.

Where can I find Bitcoin ATMs near me in Australia?

To locate Bitcoin ATMs in Australia, head to Localcoin’s map section, it provides up-to-date listings of Bitcoin ATM locations across Australia. Simply enter your location or use the map to find the nearest Bitcoin ATM to you. Localcoin is already operational in Sydney, Victoria, and Bitcoin ATMs in NSW, providing a widespread network for cryptocurrency transactions.

If you are ready to start your crypto journey, head to Localcoin’s map section to find the Bitcoin ATM closest to you.

Keep in mind that you can also pre-verify online so you don’t have to go through the verification process once you have reached the machine.

Posted in