Question 1

What is Bitcoin (BTC)?

Accepted Answer

Each Bitcoin is basically a computer file that is stored in a 'digital wallet' app on a smartphone or computer. People can send Bitcoins (or part of one) to your digital wallet, and you can send Bitcoins to other people. Every single transaction is recorded in a public list called the blockchain. Want to Learn the Basics of Bitcoin and Crypto? Start Here!

Question 2

What is a Bitcoin Wallet?

Accepted Answer

A crypto wallet is a necessary part of holding and transacting crypto coins. In order to send or receive any kind of coin, you’ll need a secure wallet that’s just for cryptocurrency. These specialized wallets:  Exist to keep track of coin ownership  Help generate the public addresses you’ll need to make transactions.  Don’t literally 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.

Question 3

What Crypto and Bitcoin Wallets Does Localcoin Recommend?

Accepted Answer

We recommend the following easy-to-use wallets. You'll need to take this wallet (or a printed QR code) with you, to the machine.
Caution: Make sure that the wallet used supports your cryptocurrency. If the wallet is not compatible, you will lose your transaction amount. Mobile Wallets Blockchain
Available for Android and iOS BRD
Available for Android and iOS Bitcoin
Available for Android Bitpay
Available for Android, iOS, and Windows
 Web Wallets Paxful
Visit paxful.com Blockchain
Visit blockchain.com Bitcoin
Visit bitcoin.com Hardware Ledger Nano S
Visit ledger.com Trezor
Visit trezor.io

Question 4

Do I Have to Buy One Whole Bitcoin?

Accepted Answer

No! You can purchase as little as $20 CAD worth of Bitcoins and other cryptocurrencies such as Ether and Litecoin at Localcoin Bitcoin ATMs. You will receive the BTC, ETH and LTC equivalents of the amount of money you input.

Question 5

Where Can I Spend My Bitcoin?

Accepted Answer

There are many companies that accept Bitcoins. These consist of both online and brick-and-mortar stores.  Click Here for a Directory of Companies That Accept Bitcoin

How to Buy Bitcoin Using a Bitcoin ATM

Step 1 - Get Verified

Step 2 - Get a Bitcoin Wallet

Bluewallet

Trust Wallet

Step 3 - Find the Nearest ATM

Step 4 - Scan Bitcoin QR Code

Step 5 - Purchasing Your Bitcoins

Step 6 - Receiving Your Bitcoins

Frequently Asked Questions (FAQs)

Find A Bitcoin ATM Location Near You!