Bitcoin ATM FAQ

index2        index2
WARNING! DO NOT PURCHASE BITCOIN FOR ANYONE BUT YOURSELF.

1) DO NOT SEND BITCOINS TO CRA EMAILS.
2) YOU MAY BE A VICTIM OF AN ELABORATE BANK SCAM. READ BELOW FOR DETAILS!

If you have been asked to purchase bitcoin for another individual or company, you may be the victim of an elaborate banking scam. Victims are contacted via email or phone, and are then e-transferred large sums of money to their bank account. They are then asked to withdraw the cash and use it to purchase bitcoin as part of an employment application process. The thieves usually offer a reward of $50-$100 for the victim’s assistance. A few days later the money sent via the e-transfer is linked to a stolen bank account and the transfer is reversed, leaving the victim with a negative balance and no bitcoin. DO NOT PURCHASE BITCOINS FOR ANYONE BUT YOURSELF.
index2        index2

Q: What is Bitcoin?

Q: Where can i get a wallet?
A: We are most familiar with Android, so we like the Bitcoin Wallet for Android.  We do have a page here to assist on wallet selection.

Q: How does the Bitcoin ATM work?
A:

Q: I installed my Bitcoin Wallet while standing here at the ATM. I purchased some coins and I don’t see them appearing.
A: Bitcoin Wallets need to sync with the bitcoin network.  As long as you are on WiFi or have Data, your wallet will sync. Your purchase will appear.

Q:  Do your Bitcoin machines require ID, fingerprints, pictures or a cellphone number?
A: We do not partake in the collection of ANY data, EVER!! Our machines operate as follows; Click start, scan code and insert cash. At no time will our machines ask you for ID, a fingerprint, take your photo or ask for a cellphone number.
WE WANT YOUR TRANSACTIONS TO REMAIN PRIVATE AT ALL TIMES.

bitaccessQ:  Why might other Bitcoin machines require ID, fingerprints, facial pictures or cellphones numbers?
A: Commonly we see this practiced by companies who want to build a database for their own purposes. Be it to use for marketing, compliance with law enforcement or for reporting to the Canadian Revenue Service.  Using any machine collecting your data is obviously upto you, but this is not a practice we endorse.

Q: I purchased bitcoins and I can’t spend them or they are not appearing yet.
A: Each Bitcoin purchase requires the Bitcoin network to confirm / validate the sale. This is a network function and a feature of the Blockchain protocol, not an ATM setting. The confirmation process can take upto 10 minutes typically, however we have seen it taking as little as 2 minutes for a confirmation and upto a couple hours.

wallet-display

Q: How can I use this bitcoin stuff with BackPage?
A: We have a tutorial here (click)

Q: How long before I can use the Bitcoin I bought from the ATM?
A: Bitcoin can be spent as soon as the purchase is confirmed by the BlockChain / Bitcoin network. This can take 2 minutes or upto 1 hour depending.  Typically 10 minutes is the required wait time.

Q: I sent my Bitcoins to the wrong QR code, can I get a refund?
A: Once the atm has sent coins out, the coins are no longer in our control. We cannot charge back or offer a refund.

Q: Can you keep the store open a bit later for me?
A: tobitcoin.ca only operates the ATM inside the store. We have no control over the store hours.  It is always best to call ahead if you are traveling far.

Q: Why does the cost of Bitcoin change. I see the machines having different prices daily, whats up?
A: The price of bitcoin is up and down, like a roller coaster at times. The machines connect and monitor the price and adjust accordingly.

Q: Can I type a wallet address into the Bitcoin ATM machine?
A: Sorry, the machine ONLY accepts QR codes for scanning.

Q: What is a QR code?
A: Here is an example of the QR code for scanning from the android wallet, Bitcoin Wallet.

Bitcoin QR code
Bitcoin QR code


Q:
I want to buy this whole machine and put it in my store!
A: We don’t sell the machines however we have the ability to place one in your store. Things to consider are your hours of operation, location, store type. If you are interested in an ATM please contact 1-855-77BITCOIN extension 0 .