Coinsource will never reach out to you and ask you to send Bitcoin. If you have been contacted by someone claiming to be with Coinsource please reach out to our Support Team immediately. Do not send Bitcoin to unknown 3rd parties. Bitcoin transactions cannot be reversed, stopped or rerouted.
If you have any questions or concerns you can contact our Support team at 1-805-500-2646 or email support@coinsource.net
Yes. As the world’s largest Bitcoin ATM operator, Coinsource is nationally licensed and federally regulated which requires proper ID verification of our customers. Coinsource does not share or sell any information whatsoever to 3rd parties.
In order to create an account with Coinsource, you’ll simply need your cell phone and your government-issued State ID orDriver License. (We do not accept foreign ID’s, City ID’s or Passports at this time.)
To begin, simply fill out our enrollment form starting with your phone number, you will receive a six-digit confirmation code via text message, this just confirms that thephone number you entered is yours and that you have access to the confirmation code to proceed.
Next, we will ask for a few photos to confirm your identity in order to comply with all state and federal bankingregulations which are required for all operators by law. Don’t worry, all of your information is 100% private and will neverbe shared or sold to any third-parties, ever.
The first photo we will need is of the front of your State ID card. Please make sure there aren’t any glares orobstructions like thumb or finger in the photo. This makes it easier for photos to be accepted. Simply tap the ‘Take a Photo’tab and your phone’s camera will prompt you to take a picture. Once you have a clear, glare and obstruction-free photo, tap‘Next’.
The second photo we need will be of the back of your ID. The third and final photo for the Enrollment Form is aself-portrait, or “selfie”. Please do not use any filters as they will not be accepted.
And that’s it! In just a short time you will receive a confirmation text message telling you your account has beenprocessed and approved and that you are able to proceed with transacting at any Coinsource Bitcoin ATM in the country.
No, not yet. Coinsource machines only accept U.S. cash to complete a transaction. The smallest denomination Coinsource machines accept is a $5 bill.
You can transact as little as $5 and as much as $8,500 per day from a Coinsource ATM.
To begin using Bitcoin, you’ll need to use a Bitcoin wallet. A wallet stores the necessary information needed to handle yourBitcoin. Often described as a place to hold or store digital currency, Bitcoin wallets are essentially a means to store yourdigital credentials for your Bitcoin and allows you access to them.
To download the Coinsource Bitcoin Wallet app:
No. Unfortunately, there will always be examples of bad people taking advantage of good things. Given the nature of privacythat comes along with cryptocurrencies, scammers will do whatever it takes to trick people into sending funds to them, andwith cryptocurrencies, it’s nearly impossible to identify someone solely from the wallet address they provided you to sendfunds to.
When sending funds to anyone, always use your best judgment and never forget that if something sounds “too good to be true”,it most likely 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 anyother cryptocurrency to them either. Once a you send cryptocurrency, you cannot stop, cancel, or reverse the transaction.Please have 100% confidence in the identity of any recipient you intend to transfer funds to
Cryptocurrency, also referred to as Digital Currency, is a relatively new form of technology which is being used to exchange agreed-upon values to goods and services. It’s just like regular, traditional currency; however, it uses cryptography tosecure transactions and control the creation of its native currency.
Bitcoin is a form of digital currency. This means that if you have bitcoins you can use them as cash instead of handing billsand physical coins to the merchant. Currently, bitcoins are primarily used for online purchases and transfers as they are moreliquid than physical currency (with lower transaction costs). There are thousands of online retailers that accept bitcoin withthe number growing daily. Bitcoin is “The Internet of Money.”
All cryptocurrency transactions are stored in a public ledger called the blockchain. It’s not maintained by any singularauthority, but rather by a network of communicating nodes and miners running open-source software. Transactions are sent tothis network using readily available software applications, such as wallet apps, and nodes validate those transactions, addthem to their copy of the blockchain, their ledger, and then forward these additions to other nodes. The blockchain is adistributed database, meaning each network node verifies and stores its own copy of the blockchain.
Bitcoin mining is comparable to the mining of gold, but its digital form. The process involves specialized computers solvingalgorithmic equations or hash functions. These problems help miners to confirm blocks of transactions held within the network.Bitcoin mining provides a reward for miners by paying out in Bitcoin in turn the miners confirm transactions on theblockchain. Miners introduce new Bitcoin into the network and also secure the system with transaction confirmation. They arealso rewarded network fees for when they harvest new coin and a time when the last bitcoin is found mining will continue.
Bitcoin was first introduced to the public back in 2009 and pioneered the field as the very first decentralized cryptocurrencyand the decentralized control is by use of Bitcoin’s distributed ledger, called the blockchain. Bitcoin is the most populardigital currency and was the first digital currency to implement the blockchain as a core component.
Absolutely! The great thing about cryptocurrencies is that you can send as well as receive money from anywhere in the world atany given time without having the need to worry about banking hours, formal permissions or any other limitations that youwould have with standard fiat. You can make and complete payments in Bitcoin and other cryptocurrencies without anyone’spersonal information being tied to the transactions, therefore protecting you against identity theft.
