Frequently Asked Questions
Before Buying Bitcoins
A “wallet” is basically the Bitcoin equivalent of a bank account. It allows you to receive bitcoins, store them, and send them to others. There are various types of Bitcoin wallets.
Here a some wallets that'll work with our service:
No, you do not. You can purchase as little as $5 CAD worth of bitcoins. You will receive the BTC equivalent of the CAD you input, depending on the exchange rate at the time.
Never make a transaction for someone else, without knowing who they are, or what it is for. You could be unknowingly aiding criminal activity, and opening up yourself to criminal prosecution.
Also consider that, if you do not know this person, and you were promised payment, there's no guarantee you'll get paid. And there's nothing you could possibly do about it, if they're anonymous.
LocalCoinATM operates a Bitcoin payment service. Like other network providers, LocalCoinATM is not responsible for your actions on the network.
Furthermore, do not send Bitcoin to anyone threatening you for a ransom, or stating that you owe money to the Canadian government They are scammers. Hang up, and call the police if anyone like this contacts you.
Remember: Bitcoin transactions are irreversible.
Buying Bitcoins from ATMs
- Scan Your Wallet's QR Code — Bring your mobile wallet (app), or paper wallet, to the ATM. Hold its QR code up to the scanner. It will be read instantly.
- Insert CAD Notes — Insert your Canadian (CAD) bills. With each bill you provide, the ATM will update the amount of bitcoins you will receive.
- Receive Your Bitcoins — Once you confirm your purchase, your bitcoins will be sent to your wallet.
We accept Canadian Dollar notes at all locations.
We accept CAD and USD* bank notes in the following denominations:
*Only in Niagara, for now.
The minimum you can buy is $5 CAD, the smallest denomination that you can insert. The maximum is $9995, per day.
Our bitcoin price is among the most competitive out there. It is based on the market rate, in addition to an exchange fee, much like how a currency exchange sells you fiat money.
Buying Bitcoins with Flexepin
Flexepin is a fast, safe, and anonymous way for making online purchases, including Bitcoin.
- Purchase a Flexepin voucher—with the dollar amount you'd like to use in your purchase—at any of the 1000s of retail locations in Canada.
- Redeem the voucher by inputting the 16-digit code at LocalCoinATM.com; you'll get a text message and/or an email.
- Upon verification of your order, we'll send you the Bitcoin you've purchased.
Here's a short video, summing up what Flexepin is, and how to use it:
Flexepin vouchers can be purchased at 1000s of locations across Canada, and the world.
You can only purchase up to $1000 in Flexepin vouchers per day.
After Buying Bitcoins
A digital receipt will be displayed after a successful transaction. Please take a photo of the screen, or input your phone number or email address to have it sent to you.
If you scan the QR code in the receipt with a QR reader app, it will forward you to a record of your transaction, on the Blockchain.
You'll get an SMS confirmation.
All LocalCoinATM transactions happen immediately, so you should receive your bitcoins right away, provided you sent them to the correct address. If you have confirmed, with 100% certainty, that you sent them to the correct address, you most likely just need to close out of your wallet app, then reopen it.
Some wallets will not show your bitcoins until the transaction has been confirmed on the Blockchain. This usually takes about 10 minutes, depending on the state of the network.
If you are concerned that your bitcoins haven't been sent, you can check the status of your transaction by going to Blockchain.info, and searching for it by inputting your wallet's address.
All Bitcoin transactions are irreversible, regardless of where they were done. Only the person to whom you sent them can send them back to you. Therefore, it is impossible for LocalCoinATM to provide you with any kind of refund.
Bitcoin can detect typos, and will prevent you from sending money to an invalid address by mistake. However, you should always confirm that you have the correct QR code/wallet address before scanning it into the machine.
Also, do not send bitcoins to anyone threatening you for a ransom, or who claims you owe money to the Canadian government. They are scammers. Hang up the phone, and call the police if anyone like this contacts you.
There are many companies that accept bitcoins, both online and in brick-and-mortar stores.