A Bitcoin ATM takes your cash, asks you to scan the QR code of your wallet, and sends the crypto there. It takes about five minutes, costs far more than an exchange, and you will be asked for ID from $1,000. On May 6, 2026 the federal government also proposed banning crypto ATMs, so check the law before you plan around one. For almost everyone, a registered exchange with Interac e-Transfer is cheaper and safer. Use an ATM only if you have cash and cannot use anything else, and never because someone on the phone told you to.
- Cost: from my own test, a 13.7% fee on a $20 buy. Exchanges list 0.20% to about 2%.
- ID: FINTRAC requires identity checks from $1,000.
- Scam rule: nobody legitimate ever asks you to pay a bill at a crypto ATM.
| Way To Buy | Published Or Tested Cost | On $500 |
|---|---|---|
| Bitcoin ATM (my 2021 test) | $2.75 on a $20 buy, 13.7% | About $68.50 if the same rate applied |
| NDAX | Flat 0.20%, spread not published | $1.00 plus spread |
| Wealthsimple Crypto | 0.5% plus a spread | $2.50 plus spread |
| Bitcoin Well (online portal) | 1.5% spread to buy | $7.50 |
| Newton | 1.00% to 1.15% spread on Bitcoin | $5.00 to $5.75 |
The ATM line is one machine on one day in 2021, so treat it as an example, not an average. Every machine sets its own markup, and the screen shows the total before you insert cash. The exchange lines come from each platform's own fee page, checked on October 1, 2026.
Part of my guide to Bitcoin ATMs in Canada.
How Does A Bitcoin ATM Work In Canada?
Today, there are plenty of crypto exchanges for Canadians that make it easy to buy bitcoin straight from your phone and computer. But it wasn't always this easy. Ten years ago, there weren't many exchanges, but then the bitcoin ATM came along allowing for quick and easy purchases of bitcoin. In fact, one of the very first places you could buy bitcoin was an ATM. The world's first bitcoin ATM appeared in Vancouver, Canada in 2013. Since then, many more have appeared across the country, mostly in convenience stores, malls and coffee shops. Bitcoin Well alone lists 160+ ATM locations on its site. You may not have noticed them, but there are many of them in major Canadian cities. You don't have to use a bitcoin ATM, as there are so many cheaper and different ways to buy crypto in Canada, but some people still do.
Bitcoin ATMs are incredibly convenient. All you do is scan the QR code for your receiving wallet, insert the cash and you're done. Unfortunately, bitcoin ATMs have much higher fees than crypto exchanges, so while convenient, they aren't cheap. Since bitcoin ATMs work with cash, you can also sell bitcoin and receive cash on some machines. One thing has changed since I first wrote this guide: you can no longer count on a machine skipping identity checks. FINTRAC's rule for money services businesses is that they must verify the identity of the person when an exchange or transfer of virtual currency is equivalent to $1,000 or more. Small purchases may go through on a phone number alone, depending on the operator. I do not recommend splitting a purchase into smaller ones to dodge that check, because the 24-hour rule and suspicious transaction reports exist for exactly that.
You might be wondering, how do I use a bitcoin ATM? Are they safe to use? I have put together a step-by-step guide to buying bitcoin with a bitcoin ATM in Canada. There are several types of bitcoin ATMs but most will have the same process. We used a Localcoin ATM located in a small convenience store in Vancouver, BC. There was a warning attached to remind you that the Canadian government does not accept bitcoin payments and to be wary of scams.
How Do You Buy Bitcoin At A Bitcoin ATM Step By Step?
Step 1: Touch The Screen To Start
Step 2: Select The Crypto You Wish To Buy
Step 3: Agree To Enter Your Phone Number
Step 4: Enter Your Phone Number And SMS Verification Code
Step 5: Scan The QR Code For Your Wallet
Make sure to have a crypto wallet. I have covered crypto wallets available for Canadians here. If a stranger is asking you to scan a QR code they gave you, stop. That is the most common ATM scam, and the money goes to them, not to you.
Step 6: Insert Cash
Step 7: Done
What Are The Bitcoin ATM Fees In Canada?
The fee for buying $20 of bitcoin on that machine was $2.75, which is a 13.7% fee. Bitcoin ATMs have extremely high fees, so if you are able to use a crypto exchange instead, I highly recommend you use one. Many exchanges charge well under 1% in published fees, so the difference is huge. I have covered the best crypto exchanges for Canadians here.
In order to use a bitcoin ATM machine to buy bitcoin or buy altcoins, you will need to have cash. Bring as much cash as you wish to convert to crypto, but compare the on-screen total with an exchange first. Keep in mind that at the machine I used, the markup was above 10%. I could not verify any operator's current fee schedule from an official page, so I am not quoting a range for the whole market. The number on the screen before you insert the cash is the only one that counts.
You will also need a crypto wallet. You can download a crypto wallet app, a desktop wallet for your computer, or buy a hardware wallet for ultimate security. You can read my guide to the best crypto wallets for Canadians to help you choose. Even if you have a hardware wallet like a Ledger, you can use the Ledger Live app to generate a QR code for your wallet.
When buying crypto with a bitcoin ATM you will be asked to scan the QR code for your wallet. This is because the bitcoin ATM needs to send your bitcoin somewhere. Make sure you are able to access and present this QR code when using a bitcoin ATM in Canada. Use the correct wallet for the crypto you wish to purchase. If you want to buy bitcoin you will need to present your bitcoin wallet address. If you want to buy Ethereum you will need to present your Ethereum wallet address, and so on.
Similarly, when using a bitcoin ATM to sell crypto in Canada, you will need access to your wallet. Use your wallet to send/withdraw your crypto, then scan the QR code on the bitcoin ATM's screen. Your crypto will be sent to the bitcoin ATM's address and then you will receive cash from the ATM once the crypto has been received. Depending on how busy the network is, your crypto may take up to an hour to send and receive.
Which Bitcoin ATM Operators Should Canadians Check First?
Before you use any machine, confirm the operator is a registered money services business in FINTRAC’s public registry. Bitcoin Well, Localcoin, Instacoin and Bitcoiniacs all appeared as registered in that registry when I checked in October 2026. Compare the fee shown on the screen with the live market price before you insert cash, and never use an ATM because someone on the phone told you to: that is the classic scam pattern. Ottawa has also proposed banning crypto ATMs altogether, so read my crypto ATM ban explainer for where that stands.
Are Bitcoin ATMs Safe And Legal In Canada?
Using one is legal today. The machines are run by businesses that must register with FINTRAC as money services businesses. Safe is a different question. The Canadian Anti-Fraud Centre's guidance is blunt: no government agency will ever request payment in cryptocurrency, and there isn't the protection from fraud with cryptocurrency that you get with a credit card. Scammers pose as the CRA, police or a bank, tell you your account is compromised, and send you to a Bitcoin ATM to "secure" your cash. Once the coins leave, they do not come back.
- Never deposit cash because someone phoned, texted or messaged you.
- Only scan your own wallet's QR code, one you created yourself.
- If you have been scammed, report it to the Canadian Anti-Fraud Centre and your police service straight away.
The federal government's Spring Economic Update, announced on May 6, 2026, proposes to ban crypto ATMs. Finance Canada says studies have found that between 85 and 98 per cent of crypto ATM transactions are linked to illicit activity and puts Canadian fraud losses facilitated by crypto ATMs in 2024 at $142 to $284 million. It said the details would come in legislation expected to be tabled shortly. I could not confirm that the ban has passed into law as of early October 2026, so check the news before you rely on a machine staying where it is.
What Changed For Bitcoin ATMs In Canada In October 2026?
- The Spring Economic Update proposed to ban crypto ATMs in Canada. Legislation was described as expected to be tabled shortly.
- Bitcoin Well still lists 160+ Bitcoin ATM locations, and says its online portal charges a 1.5% spread to buy for verified accounts, a spread that does not apply to its ATMs.
- The CSA list of authorized crypto platforms was last updated.
Where Can I Find A Bitcoin ATM In Canada?
You can use www.coinatmradar.com to find a bitcoin ATM near you. You will be able to see what cryptocurrencies they offer and whether they accept buying and/or selling crypto. I would still recommend using a proper crypto exchange because you will save a fortune on commission fees. If you want a Bitcoin-only service that sends coins to your own wallet and also runs machines, look at Bitcoin Well, which carries a FINTRAC MSB registration, or Bull Bitcoin for a no-ATM, bank-funded alternative.
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Frequently Asked Questions
Can I Use A Debit Or Credit Card At A Bitcoin ATM?
No. Bitcoin ATMs work with cash. You buy crypto with cash, or on some machines sell crypto and receive cash.
What Are Bitcoin ATM Fees And Limits In Canada?
Fees depend on the operator and the machine, and the screen shows the total before you pay. My own 2021 test on a Localcoin machine cost 13.7% on a $20 buy. Identity checks apply from $1,000.
Where Can I Find A Bitcoin ATM In Canada?
Use CoinATMRadar to search by city and see whether a machine buys, sells or both. Bitcoin Well lists 160+ ATM locations on its own site.
Do Bitcoin ATMs Require ID In Canada?
FINTRAC requires a virtual currency business to verify the identity of a person who exchanges or transfers $1,000 or more. Operators can ask for more at lower amounts.
Is Canada Banning Bitcoin ATMs?
The federal government proposed a ban in the Spring Economic Update on May 6, 2026, with legislation expected shortly. I could not confirm it has become law as of early October 2026.
Why Do Scammers Use Bitcoin ATMs?
Cash goes in and crypto goes out in minutes with no way to reverse it. The Canadian Anti-Fraud Centre says no government agency will ever ask you to pay in cryptocurrency.
Is It Cheaper To Buy Bitcoin On An Exchange Than An ATM?
Almost always. Registered exchanges publish fees from a flat 0.20% at NDAX to roughly 1% to 2% with spreads, while ATM markups in my test were above 10%.
est ce qu.on peut payer avec des bitcoin si oui comment on fait?
I want to send a few thousand dollars cash by bitcoin, does it charge/calculate the extra fees when I put in the amount I want to send or do I include the extra fees after I enter the amount I want to send, i.e. $2000.