LocalCoinATM Adds Ethereum Support

Announcements, FinTech, News, Now Accepting | August 21, 2017 By:

Ontario-based bitcoin and ethereum ATM manufacturer LocalCoinATM has added support for ethereum on all their bitcoin ATMs in Toronto.

The new ATM is located at 161 Church Street, Toronto inside of a Hasty Market, a popular convenience store chain in Canada. It joins other ATMs located around the greater Toronto area in Etobicoke, Brampton, Vaughan, Markham, and North York.

“We are the first ethereum ATM providers in Toronto,” said an unattributed statement from the company. “Ethereum has revolutionized the crypto industry with its smart contract features.”

Similar to how bitcoin ATMs work, ethereum ATMs display an ether deposit address for sellers and require buyers to enter the addresses of their Ethereum wallet to purchase the cryptocurrency with Canadian dollars. Customers can purchase as little as $5 CAD worth of bitcoins at their ATMs. The ATMs only accept Canadian dollars at this time. The company’s website also noted that clients should have an ethereum wallet in order to make transactions, as a bitcoin wallet will not work with an ethereum wallet.