Buying Bitcoin from a Bitcoin ATM (BTM) with cash is one of the easiest ways to get started. You bring cash, scan your wallet address, and leave with Bitcoin in your wallet. Here’s how to do it safely and smoothly.
What you’ll need:
- A Bitcoin wallet ready (mobile wallet or hardware wallet), with your receive address or QR code handy.
- Cash in Canadian dollars.
- A Bitcoin ATM nearby (many are located in convenience stores, malls, etc.). Use an ATM locator map or app.
Step‑by‑Step Guide
If you use a platform like 1Bitcoin.ca or any exchange, securing your login is critical. A stolen password could mean stolen funds. With 2FA, your account is far harder to compromise.
- Locate a Bitcoin ATM that accepts cash purchases
Use an app or website (for example, Localcoin, Bitcoin Depot, or bitMachina) to find a BTM near you. Make sure that machine supports buying Bitcoin with cash. - Prepare your wallet address
In your wallet app, tap “Receive” to get your Bitcoin address (or QR code). Don’t share private keys—just the public address. Make sure the address is correct. - Go to the ATM and follow the on‑screen prompts
When you arrive, select “Buy Bitcoin” (or equivalent). The ATM may ask you to scan your wallet QR code (from your phone) or type in your address manually. Scanning is safer to avoid errors. - Insert cash
Feed the cash into the ATM when prompted. Many ATMs have a minimum purchase amount. Also note: there are fees and exchange rates (Bitcoin ATMs in Canada often charge 10% or more depending on the ATM and location). - Confirm the transaction
The ATM will show how much Bitcoin you’ll receive (after fees) for the cash you inserted. Review the address, amount, and fees. If everything is correct, confirm. - Wait for confirmations
After sending, the Bitcoin transfer needs to be confirmed by the blockchain. Depending on network congestion, this can take a few minutes to longer. Once it’s confirmed, the Bitcoin will appear in your wallet.
Things to watch out for / Tips
- High fees: BTMs are convenient, but the cost is often higher than exchanges. The premium covers the machine, cash handling, and service.
- Address mistakes: A wrong address means lost Bitcoin. Always scan or copy‑paste clearly.
- Limits and verification: Depending on the machine, amount, and location, you might need ID or to complete verification. Smaller amounts often require less.
- Cash hygiene & safety: Be safe when carrying cash, especially if it’s large amounts. Use well‑lit, safe places.
Why this method matters
Buying Bitcoin with cash makes the process very direct: no bank transfer delays, no waiting for deposit clearances. It allows people who prefer privacy, who don’t have bank access, or who simply want to use cash an accessible on‑ramp into Bitcoin. It’s also a good way to learn how wallets work and what addresses, QR codes, and confirmations are—all foundational for using Bitcoin safely.
