Frequently Asked Questions

Bitcoin is perhaps one of the most exciting evolutions of the decade.   As a virtual currency, it has the potential to provide faster, cheaper and more secure global payments.  At it's core, bitcoin utilizes an open ledger (blockchain technology) to create a more transparent system.   Blockchain technology also has many potential future applications such as enabling smart contract.

But what does all this mean for you today?

Here are just a few of the reasons why individuals are choosing to purchase bitcoin:

  • ​To make secure online payments where their personal information is protected
  • To quickly send money to relatives around the world.  (in as little as 10 min compared to days for wire transfers)
  • To trade the currency (Please note, Bitsent urges caution if you are interested in speculating on the value of bitcoin, as losses could be incurred. We make no guarantees on the short-term or long-term value of bitcoin)
  • To participate in a transparent new system that allows the individual to hold and control their own funds.

The BitSent team is made up of a group of experts.  We are happy to answer any questions you may have about bitcoin!  We post updates to our blog and can recommend a few resources below for further information:

Beginner Bitcoin Info:

www.weusecoins.com
www.bitcointrust.co/about-bitcoin/

 

Bitcoin News & Opinion:

www.bitcoinmagazine.com
www.coindesk.com
www.cryptocoinsnews.com

 

 

Disclaimer: Please see our Term of Use and Privacy Policy.  Any information gathered and presented by BitSent is intended to be used for reference and may not always be up to date or accurate.  Any information presented is not meant to advise a particular course of action such as purchasing bitcoin as an investment.

You can purchase Bitcoin at one of our physical Automated Vending Machines (AVMs) located throughout Canada.  Check out our map to find the location nearest you.  

We are continuously rolling out new locations so check back if you don't see one near you, or better yet let us know where you would like to see an AVM!  

 

The automated machine will guide you through the purchase process step by step with simple on-screen instructions. 

You will first need to set up a bitcoin wallet. You can create a wallet online or download a mobile app to your smartphone.  We recommend checking out blockchain.info for more wallet information & downloads.  Once your wallet is set up, you will need to locate your public address and bring the QR code of your public address with you to the AVM.  You will display this address to the machine to tell it where to send bitcoin.

In order to comply with local regulations, a maximum purchase amount of 1000 CAD has been set on AVM transactions.  If you wish to purchase more, please contact us to book an appointment.  Bulk discounts will apply!  

Our machines accept Canadian dollar bills only.

Appointments can be made with a BitSent agent to purchase or sell Bitcoin in person.  Due to anti-money laundering regulation, you will need to bring a piece of ID.  However you will be able to purchase a larger amount of Bitcoin.

BitSent currently has agents available for appointments in the below provinces and cities.

Ontario:     Kitchener-Waterloo, Cambridge, Guelph                                                                     

Yes, BitSent will also purchase your Bitcoin.  Please book an appointment if you wish to sell your Bitcoin. 

There are all kinds of things you can do with Bitcoin, including:

  • book a trip through Expedia 
  • furnish your home through Overstock.com,
  • Get great deals on TVs, tablets, computers and other must-have tech through TigerDirect.ca or Newegg.ca
  • Buy xbox games from Microsoft
  • Tip your friends or favourite blogger
  • And much much more!

More and more retailers are accepting Bitcoin daily.  You can even buy a trip to space using Bitcoin!   

Perhaps most importantly, Bitcoin is allowing a new level of financial inclusion and letting people transact on their own terms. 

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