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Frequently Asked Questions
Yes, All users must verify their identity with Localcoin before completing any transactions.
To get verified, you must:
- Enter your personal details
- Verify your phone number
- Provide photo ID
- Disclose occupation and address
- Wait for verification, and you are good to go!
Follow this link to begin your one time verification process, you can always pre-verify before visiting a Localcoin ATM to save some time. Verification of your identity when using a Bitcoin ATM is a requisite step to ensure compliance with AUSTRAC regulations.
Requirements for User Identity Verification:
- Government-issued photo ID such as an Australian Passport or a driver's license
- A cell phone capable of text messaging and taking photos
Click Here to Watch a Quick Video on How to Buy Bitcoin at Our ATMs
Step 1: Sign Up
Submit your phone number and government issued ID to sign up at our machines. It takes about 2 minutes to sign-up.
Step 2: Begin Transaction
All you need is your wallet’s address, QR code and cash!
Step 3: Scan Wallet
Select Bitcoin, use your wallet's QR code, and hold it up to the ATM's camera. Don't have a wallet? See here for our recommendations.
Step 4: Insert Cash & Receive Bitcoin
Insert the amount of cash equivalent to the Bitcoin you purchased. A receipt will be sent via SMS.
No! You can purchase as little as $5 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.
We accept Australian Dollar notes at all locations in Australia
Our Bitcoin ATMs accept AUD in the following denominations: $5, $10, $20, $50, $100
The minimum amount of Bitcoins (and other coins) you can buy from a Localcoin ATM is $5 — the smallest denomination you can insert. The maximum is $9500 per transaction and per day.
When using a Localcoin ATM, there is a transaction fee and a flat fee applied to all crypto purchases. We strive to keep these fees competitive with other players in the market. For more information and some insight into the fees you will incur, please refer to our fees section for a detailed breakdown of our fees.