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General
Bitcoin is a digital currency. Bitcoin allows peer to peer transactions without a bank or government authority.
Transactions are verified on an open source ledger called the blockchain. Computers race to solve cryptographic puzzles (this is why it is called cryptocurrency) - the winning computer gets to record a transaction on the blockchain - this is bitcoin mining.
The blockchain is an open source document which anyone can view. Bitcoin retains value because only a finite number will ever be mined. Bitcoin can be divided into small units called ‘Satoshi’ - named after Satoshi Nakamoto - the mysterious founder of Bitcoin. Since Bitcoin is transferable, finite and divisible, it is used as a proxy for traditional ‘fiat’ currencies. Learn more here: https://www.kraken.com/learn/what-is-bitcoin-btc/
A wallet allows you to hold and transfer cryptocurrency assets. Each cryptocurrency has a different wallet - you cannot transfer Bitcoin to a Litecoin wallet, for example.
cryptocurrency You will need a wallet in order to complete a transaction at an ATM. While the letters and numbers are your actual wallet, the ATM can only scan the QR code affiliated with your wallet - this can be generated from an app on your phone, or a picture of a wallet, or a print out on a piece of paper will suffice. Wallets have public and private keys. The public key allows you to deposit funds on your wallet, the private key allows you (or anyone who has the private key) to withdraw the funds. Don’t share your private key with anyone. Your wallet doesn’t literally hold the coins - it simply gives you access to them and proves ownership of them on the blockchain.
While there are many wallets to choose from, here are a few simple, easy to use bitcoin wallets in different formats that we recommend. Make sure you are only depositing coins in a wallet you control - i.e. you have the private keys to. Not your keys, not your coins! Also make sure that you are depositing Bitcoin - if you try to send another cryptocurrency to a Bitcoin wallet you may lose your funds.
Mobile Wallets
Blockchain: Android and iOS
Mycelium: Android and iOS
Bitcoin: Android
Bitpay: Android, iOS, and Windows
Web Wallets
Blockchain: blockchain.com
Bitcoin: bitcoin.com
Hardware
Ledger Nano S: ledger.com
Trezor: trezor.io
No. You can purchase as little as $5 worth of Bitcoin or Litecoin at a time, and a minimum of $50 Ethereum (due to high gas fees - the fees Bitcoin Central pays to send you your coins)
More and more businesses are accepting Bitcoin as payment for goods and services. You can now purchase everything from shoes to real estate to plane tickets using Bitcoin. Here is a directory of companies that accept Bitcoin as payment: https://bitpay.com/directory/
Using a Bitcoin Central ATM
1. Tap ATM screen to begin
2. Press ‘Buy’
3. Read Terms and Conditions
4. Tap I agree accept and continue (both the Terms and Conditions and the Warning)
5. Select cryptocurrency - Bitcoin, Ethereum or Litecoin
6. Scan wallet QR code (display QR code on your phone screen - hold your phone 3-6 inches away from glass panel and move screen slowly until ATM reads the QR code. (If you do not have a bitcoin wallet, follow on screen instructions or download a free crypto wallet from the App Store/Google Play)
7. Insert cash into bill acceptor when it glows blue, one bill at a time
8. Press ‘buy’ to complete purchase
9. Take a picture of buy confirmation screen
10. Send receipt via preferred method. For text select SMS (must include country code 1 + phone number) Most ATM’s have the option to print a paper receipt.
If you receive an error message or something goes wrong - Email Us or Phone: TF: 1-877-439-6456 call or text: 1-250-825-1902.
We accept Canadian Dollars (CAD) and US dollars (USD) at all of our locations - cash only. If you are purchasing Bitcoin or Litecoin the first bill inserted must be a $5 bill or larger, if you are purchasing Ethereum the first bill must be $50 or larger. Subsequent bills can be in smaller denominations.
Transactions are limited to CAD $900 per transaction and CAD $9,000 per wallet address per 24 hours
Bitcoin Central sells three currencies - Bitcoin, Ethereum and Litecoin at all of our locations. We buy Bitcoin, Ethereum and Litecoin (dispensing cash to customer in return for coins transferred to us) in Nelson, BC at Pacific Northwest Garden Supply, located at 104 Silica Street, Nelson, BC.
No - our ATMs only accept cash.
The price of cryptocurrencies at our ATM’s is based on the spot market rate (as defined by the exchange Kraken) plus an exchange fee, added automatically to the rate you pay at the ATM - similar to a currency exchange. Bitcoin Central does not add needless transaction fees in addition to the commission. We strive to offer our customers the most competitive rate on cryptocurrency purchases in every community we serve.
Visit our ATM at Pacific Northwest Garden Supply in Nelson, BC to sell your Bitcoin, Ethereum or Litecoin for cash: Get directions here - Pacific Northwest Garden Supply
You must bring a scannable QR code - either generated by an app on your phone, printed out, or a picture of the QR code on your phone. Hold the code 3-6 inches away from the glass until it is read by the ATM.
A box with black and white boxes which is scannable like a bar code:
Make sure you are using a wallet that corresponds to the currency you are buying (a bitcoin wallet for a bitcoin transaction) Make sure you are pointing your QR code at the glass screen on the upper left hand corner of the ATM, after initiating a buy sequence. You cannot scan the code until you have selected a cryptocurrency to buy
Increase the size and of the QR code you are trying to scan
Turn the brightness up as high as possible if using an electronic device. Try rotating your phone sideways or horizontally. Hold your phone 3-6 inches away from the screen to scan. Slowly move the QR code closer and farther away, or in small circles.
No - all ATMs accept cash only - Canadian or US dollars.
No. Bitcoin Central ATMs offer instant, anonymous and secure service. No ID verification or registration is required. All you need is a wallet and cash
Our ATMs are equipped with cameras and fingerprint scanners. However we do not use fingerprint scanners and we do not collect video footage at our ATMs. The only information we collect from customers is your wallet address. All locations are protected by independent video surveillance to deter crime. All ATMs are alarmed and GPS tracked.
All coins are sent from our corporate wallet immediately. However depending on how busy the blockchain is it may take anywhere from 10 minutes to an hour for the Bitcoin to arrive in your wallet. Some wallets or exchanges will not display your coins until the transactions are fully confirmed. Check the status of your transaction by entering your bitcoin address or transaction ID here: https://www.blockchain.com/explorer
Not to worry. We save all transaction details. Contact us: 1-250-825-1902 or Email Us and we can provide you with a receipt. Please note that if you are at an ATM and request a text message (SMS) receipt, you will need to enter the country code (1) plus your phone number in order to receive a One Time Password (OTP) in order to receive your receipt via text message.
Check to ensure that your wallet is displaying funds in the same currency you purchased cryptocurrency in. (For example if you purchased funds in Canadian dollars, make sure your wallet is displaying the value of your Bitcoin in Canadian dollars). The amount of Bitcoin deposited in your wallet will be less the fees charged by Bitcoin Central.
We offer fast friendly, personal customer service. Call or text us: 1-250-825-1902, or Email Us. A real live human will answer the phone or text and get back to you as soon as possible.
Contact us and let us know. After verifying that a transaction failed at an ATM contact us and we will manually complete your transaction for you.
Take a picture of the error code at the ATM and email or text it to us and we will look into it for you.
Cryptocurrency transactions are not reversible. Once coins have been sent from our wallet we cannot stop a transaction or reverse it. The ATM will not send coins to an invalid address, but if you accidentally sent coins to the wrong address Bitcoin Central cannot refund you for your transaction. Always verify your address before using a Bitcoin Central ATM machine.
Fraud Prevention
Only deposit Bitcoin or other cryptocurrencies in a wallet you personally control - meaning you have the ability to both deposit and withdraw coins from. If someone calls you claiming to be from a government agency (CRA, RCMP, Immigration, etc) BC Hydro, and asks for payment in Bitcoin, hang up the phone and call the police. If you met someone on a dating or social media website and they are requesting that you send them Bitcoin - don’t. This is a scam. Be extremely wary about purchasing goods from individuals with Bitcoin - especially if you don’t know the individual personally. Don’t feel pressured into sending Bitcoin - for any reason. If you have questions or concerns contact us first.
Unfortunately we cannot refund your money. However if you provide us with the details of your transaction we will blacklist that address across our network of ATMs, preventing any further transactions to that address. In addition, we will file a report with FINTRAC.
Compliance
Bitcoin Central is a registered Money Services Business (MSB) - registered with FINTRAC. We are fully compliant with all regulations pertaining to the purchase and sale of cryptocurrencies.
Bitcoin Central is always looking for great new locations. We prefer businesses that are centrally located in metropolitan areas with convenient parking that are open 7 days a week. If interested in hosting an ATM contact us:
Phone: 1-250-825-1902