Coinme is the easiest way to buy or sell crypto using cash or debit instantly. Learning any new platform, you’re going to have questions. We’re here to help provide answers.
Here are some of the most common questions about Coinme, Coinstar®, the transaction process, and the crypto market in general.
Questions about Coinme
What is Coinme?
Coinme is a licensed and regulated digital currency exchange and wallet provider. Coinme powers a large network of physical locations where users can buy and sell bitcoin with cash, as well as a mobile app where users can buy and sell bitcoin with their debit card.
What do I need to open a Coinme account?
Opening a Coinme account is completely free. All you need is a smartphone, internet access, and a valid form of state-issued ID. You can get started here.
Does Coinme provide a crypto wallet?
Yes, Coinme provides a complimentary and secure crypto wallet to users with a verified account. Any bitcoin or crypto purchase made through Coinme at one of our partner locations will be stored in your Coinme wallet.
What is Bitcoin and Cryptocurrency?
Bitcoin is a digital currency that can be sent from person to person without a bank or financial institution. Bitcoin is the world’s first global, decentralized currency. Bitcoin is just the first of many emerging cryptocurrencies. A cryptocurrency is a currency secured by cryptography (secret codes). Bitcoin was the first cryptocurrency to use distributed ledger technology which is known as the blockchain.
What is blockchain?
A blockchain is a growing list of records, called blocks, which are securely linked together using cryptography. Blockchain technology is used to store information across a network of users. Blockchain provides a secure information sharing network for digital assets, which includes transactions and currency.
Where can I buy bitcoin?
Right from the Coinme mobile app! Coinme also works with house-hold brand names and global partners to enable the purchase and sale of bitcoin at thousands of familiar locations around the US using cash. Odds are there’s a grocery store or a pharmacy near you that you’ll find Coinme. Search for yourself at coinme.com/locations.
Why should I buy bitcoin with Coinme?
Coinme is a perfect platform for the beginner and intermediate bitcoin user. We know that digital currencies can be intimidating to try out, that’s why we’ve chosen to work with partners like Coinstar® and MoneyGram to provide you with easy access and thousands of options to get started. There’s no need to be a tech-savvy computer expert to use bitcoin with Coinme, and that’s how it should be.
How much bitcoin can I purchase?
Once you have successfully verified your account, your bitcoin purchase amount will depend on any regional and local limitations. In most cases, this daily purchase limit is $2,900. For specific limits near you, check the Discover tab in the Coinme app.
Current bitcoin price
How long will it take to get my bitcoin?
Coinme is one of the fastest and easiest ways to acquire bitcoin. Once your purchase is complete, your bitcoin will appear instantly in your Coinme wallet. No more waiting 5-7 business days for your purchase to clear, or 20-30 minutes for block confirmations.
How long does Bitcoin take to send?
The average bitcoin transaction takes between 10 and 60 minutes to send. This is mainly due to the fact that miners typically mine one block every 10 minutes. When they mine the block containing your transaction, it would theoretically go through. However, to fully confirm a bitcoin transaction, miners must confirm it six different times — once every 10 minutes. That’s why the average time for confirmations is 10 minutes after the transaction and then 60 minutes after the transaction. Your bitcoin transaction is final upon this last confirmation.
What cryptocurrencies does Coinme offer?
Coinme currently offers the most popular cryptocurrencies including Bitcoin, Ethereum, Dogecoin, and more. Check our prices page to learn more about each token, or sign in to your Coinme account for a list of all available tokens.
What’s the difference between a Coinme Bitcoin ATM and competitors?
A Coinme Bitcoin ATM and competing Bitcoin ATMs are similar in many ways. What sets a Coinme-powered Bitcoin ATM apart from other Bitcoin ATMs is our convenient neighborhood locations, trusted brand partners, competitive fees, and ease of use. We’re confident you’ll find buying bitcoin at a Coinme location easier than ever, and from a familiar grocery store or pharmacy environment near you.