FAQs / Frequently Asked Questions
What do I need to buy Bitcoin?
1) A phone to receive SMS verification code
2) A bitcoin wallet (can be downloaded on your phones app store).
3) Cash. Our machines only accept cash payment method
4) Drivers license (For customers buying or selling $2,000 or more)
What are the transaction limits?
Our limit is $25,000 per day. At $3000 you will be asked to scan the back of your drivers license.
Why do you need my drivers license?
Coinhub is a registered Money Services Business.
We comply with the Bank Secrecy Act and the USA Patriot Act. The Law requires that we “know our customer” and are required to collect certain customer information at certain thresholds.
Why haven't I recieved my Bitcoin yet?
When you Buy Bitcoin from one of our ATMs, the Bitcoin is sent to you immediately and can be seen on the the blockchain. Depending on the wallet you are using the wallet may require between 3-6 confirmations before the bitcoin displays in your wallet and is spendable.
Each confirmation usually takes on average 10 minutes. This means it can potentially take up to an hour or more for your bitcoin to be deposited in your wallet after you complete your order.
Please note, the blockchain network sometimes experiences delays that are out of our control.
Can I send someone money through the ATM?
No! Our company policy only allows customers to buy directly to a wallet they control. From your wallet you can send bitcoin to whoever you’d like! Please be aware of common scams before sending bitcoin.
What are common Bitcoin scams, and how can I avoid them?
It might be a scam if…
Romance scam – Is a foreign boyfriend you met online asking you to send money?
Check scam – Has anyone mailed you a check and asked you to cash it?
Blackmail scam- Is anyone threatening you and requesting payment in Bitcoin?
Bill pay scam- Has someone told you to pay your electric, IRS, or other bill?
If you aren’t sure, please call us. ONCE BITCOIN IS SENT IT CAN’T BE UNDONE! ALL SALES ARE FINAL AND WE DO NOT OFFER REFUNDS!