How To Buy Bitcoin in Canada Using A Bitcoin ATM
Get Bitcoin instantly in a few simple steps
Bitcoin ATMs, or BTMs, are rapidly becoming a fixture in the cryptocurrency landscape, providing a bridge between digital assets and the physical world. These Bitcoin ATM machines are available in two main types: one-way and two-way.
One-way ATMs enable users to purchase Bitcoin using traditional fiat currencies like dollars or euros. On the other hand, two-way ATMs offer a more comprehensive range of services, allowing users not only to buy but also to sell Bitcoin, providing a convenient way to convert digital assets into cash.
However, when using a Bitcoin ATM, it's essential to be mindful of transaction fees. These fees can vary significantly depending on the specific ATM operator and its location. The fee structure might include a percentage of the transaction amount or a fixed fee.
As cryptocurrency adoption continues to grow, more of these ATMs are appearing in Canada. There are more than 950 Bitcoin ATM machines offered by Localcoin ATM which is by far the largest Bitcoin ATM network available in Canada. Purchasing Bitcoin using an ATM is a straightforward process and requires you to follow the steps below:
Step 1 - Get a Bitcoin Wallet
We recommend the following easy-to-use crypto 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 Bitcoin. If the wallet is not compatible, you will lose your transaction amount.
Step 2 - Find the Nearest Bitcoin ATM Machine
Find the closest Bitcoin ATM near you.
All you need is your wallet address QR code and cash.
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Step 3 - Scan Bitcoin QR Code
- Tap the machine's touchscreen, then read the on-screen prompt.
- Select cryptocurrency: Bitcoin
- In your wallet, find your address' QR code
- Hold it up to the machine's camera; the machine will scan it.
This tells the machine where to send your Bitcoin once you've confirmed your purchase.
*ID verification may be required for larger transactions
Step 4 - Purchasing Your Bitcoins
- After scanning the QR code, insert your CAD bills.
- Confirm the amount on the screen to complete your purchase.
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**.
* If you are going to send funds to another person, we recommended sending it to your own wallet first—especially if you do not know them personally.
** It is recommended that you wait for at least one confirmation on the Blockchain before spending or sending your purchased funds.
How to Use Bitcoin ATM Machine (Localcoin ATM)
Click the video below to watch a quick tutorial on how to use Bitcoin ATM machine.