Description
Localcoin is Canada's largest cryptocurrency ATM network, providing a fast, secure, and convenient way to buy and sell digital assets using cash. Founded in 2017 in Toronto, the platform has grown to over 1,000 ATM locations across Canada.
Supported Cryptocurrencies
Localcoin ATMs support 10+ cryptocurrencies including:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Cardano (ADA)
- Ripple (XRP)
- Dogecoin (DOGE)
- USD Coin (USDC)
- Tether (USDT)
- Solana (SOL)
- TRON (TRX)
- SUI
Key Services
- Buy Crypto with Cash – Walk into any Localcoin ATM location, scan your wallet's QR code, insert cash, and receive crypto instantly.
- Sell Crypto for Cash – Sell your digital assets at supported ATMs and withdraw physical Canadian Dollars.
- Online Pre-Sell – Initiate a sale from home, lock in your rate, send your crypto, and pick up cash at any ATM with zero waiting.
- Sell Crypto via INTERAC e-Transfer – Sell crypto entirely online and receive funds directly to your bank account.
Why Localcoin
- No account required for transactions up to $4,975/day — just a phone number.
- 24/7 live customer support via phone, email, and live chat.
- FINTRAC-registered Money Services Business operating under Canadian regulatory requirements.
- Minimum purchase of just $20 CAD makes crypto accessible to everyone.
Highlights
Pros
- FINTRAC-registered Money Services Business operating under Canadian anti-money laundering regulations and compliance oversight.
- Purchased cryptocurrency is sent instantly to the user's personal self-custody wallet with no waiting period for settlement.
- Supports over 10 major cryptocurrencies including Bitcoin, Ethereum, Solana, Cardano, Litecoin, Ripple, Dogecoin, USDC, USDT, and TRON.
- No account registration required for transactions under $4,975 per day — identity verification is done instantly via SMS code.
- Canada's largest Bitcoin ATM network with over 1,000 locations nationwide and growing international presence in Australia, New Zealand, and Hong Kong.
Cons
- Sell functionality is available at only a limited subset of ATMs and supports only Bitcoin and Litecoin for cash-out.
- Only accepts Canadian cash as a payment method with no support for debit cards, credit cards, or online bank transfers at ATMs.
- Online pre-sell orders must be picked up at the exact same ATM location initially specified, with no option to switch machines or locations.
- ATM interface language options are limited to English and French only, which may be restrictive for users who speak neither official language.
- CBC News investigation found that former employees said the majority of customer support calls involve fraud victims, and Localcoin declined to comment on the issue.