How do I buy digital currency?
- Press the “Start” button
- Enter phone number
- Enter the unique identifier code that was texted to your phone
- Select the “Buy” option
- Scan your Bitcoin wallet’s QR code
- Insert the bills one at a time
- Once you have inserted the amount you wish to purchase please press the “I’m done” button
- Once you have pressed “I’m done” your transaction will begin processing on the Bitcoin network
- Transactions usually take 10-15 minutes to process on the Bitcoin network
- Once the transaction has fully processed you will receive your receipt for the transaction via text message and the funds should reflect in your wallet
If you need any further information, please contact us by calling our customer support line 844-744-6100.
Do I have to give up any personal information when using a CoinGrab BTM?
For your protection and to ensure we know our customers and in order to comply with all federal and state regulations, you will be required to confirm your identity. You will be asked for your phone number, government or state-issued identification (“ID”), and as applicable, your social security number or taxpayer identification number. All of your information is 100% private and securely stored.
What do I need to purchase digital currency for?
Digital currency is very versatile and can be used for a plethora of things. Many retailers accept digital currency as forms of payment. Additionally, you can also make online purchases using digital currency.
Do you have any fees for purchasing/selling Bitcoins? What is your exchange rate?
Our premiums vary on location due to certain promotions we may be running at the given time. If you have a particular location in mind, we can tell you the exact premium at that machine currently. If you do not have a location in mind, we can certainly help you find one.
Do you conduct any ‘in-person’ transactions to purchase/sell Bitcoin?
We DO conduct ‘in-person’ transactions. These are conducted via our ‘Over-the-Counter’ trading desk. OTC trades require higher trade volumes and additional account information. CoinGrab will not conduct any ‘in-person’ transactions under $10,000 (these can be done at the BTM locations).
Is there someone to help me when I am at the BTM completing a transaction?
Although we do not have any representatives on-site at each individual BTM, if a customer needs help conducting a transaction, they can call our customer support team: 844-744-6100. We will be more than happy to walk you through the process.
How long does it take for a transaction to be confirmed?
Transactions typically take around 10-15 minutes to complete. However, in rare cases, it can take up to an hour depending on the congestion of the network.
What is Bitcoin?
Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made through a decentralized computer network – meaning, no banks!
Bitcoins are stored in a “wallet,” which typically exists either in the cloud or on a user’s computer. The wallet is a kind of virtual bank account that allows users to send or receive Bitcoins, pay for goods, or save their money. If you need a wallet, we would recommend downloading the CoinGrab Wallet, which is directly tailored for the most optimal user experience at our BTMs. The CoinGrab mobile wallet is available in both the Apple App Store and Google Play Store
Should I send Bitcoin to a stranger?
No, it is likely a scam.
When sending funds to anyone, always use your best judgment and never forget that if something sounds “too good to be true”, it often is.
If you wouldn’t feel comfortable sending an envelope of cash to a complete stranger’s P.O. Box, do NOT send Bitcoin or any other cryptocurrency to them either. Once you send cryptocurrency, you cannot stop, cancel, or reverse the transaction. CoinGrab policy forbids the sending of Bitcoin to a third party.
Some signs of a potential scammer include, but are not limited to:
- Vehicles for sale
- Classified Ads (such as Craigslist, Ebay, ApartmentFinder.com, etc.)
- Concert Tickets
- Event Tickets
- Housing or Rental ads
- Third-Party bill-pay services
- IRS or Government entities demanding payment in Bitcoin
How do I host a CoinGrab BTM?
Simply fill out a “Host Application” on our website. One of our sales representatives will then reach out to you to collect more information regarding your establishment.
Who do I call when there is a service issue?
Our support team is available every day from 6:00 am to 9:00 pm. We will be able to help with any troubleshooting needs you may have. If you have any questions or concerns, please do not hesitate to call us at 844-744-6100 to speak with one of our LIVE customer support representatives.
What are the benefits of hosting a CoinGrab BTM?
If you own a storefront that is open 24 hours, you would be a great candidate to host a CoinGrab BTM. Here are a few reasons to partner with our Company:
Builds Traffic and Sales: We drive new and existing customers to your location as the CoinGrab marketing campaign brings local Bitcoin users to you, and the convenience of your store is recognized. In turn, this churns more traffic and more revenue. Often customers will drive across an entire metro area to your location because it is one of the only places to trade Bitcoin.
Transaction Revenue: You receive an income bonus based on transaction volume.
No Regulatory Hassle: We only use financial grade equipment that meets all regulatory requirements and execute our own robust compliance program.
Advantage Over Your Competition: Hosting a CoinGrab BTM allows you to capture customers that your competitors simply cannot. Those who use CoinGrab BTMs at your location are more likely to return to your establishment over a competitor if they find themselves in the area again.
Free and Positive PR: Engage your local community through our marketing channels.