Bitcoin ATM machine in Toronto at Decentral - BitAccess:


Direction: Fiat > Crypto

Supported coins: Bitcoin

Fees: Buy 12.0%, Sell 15.0%

Fees updated: 17th Feb 2016

Limits: Deposit min: $5 CAD. Withdraw max: $6000 CAD.


Details: The machine is supposed to simplify the often-complex process of buying Bitcoins by turning it into a push-button operation. “You walk up to the machine, you put in your phone number, and it sends a PIN to your phone,” Di Iorio said. The ATM uses the phone numbers to track how many Bitcoins each user buys in a day, which Di Iorio says is for regulatory reasons. (The numbers are deleted regularly.) Each time someone places an order for Bitcoins through the ATM, the ATM automatically buys those Bitcoins on an online exchange. Di Iorio will earn a to-be-determined percentage on each transaction. The machine doesn’t dispense cash in exchange for Bitcoinsat least not yet. Di Iorio hopes to have it doing that within the next few weeks.

Initially the machine was supporting only buy bitcoins operation, but later was changed to full two-way operations. So now you can sell bitcoins here as well.

The machine was located at 64 Spadina Avenue, but then moved to 123 Spadina Avenue at Decentral office.