Frequently Asked Questions

About Bitcoin

What is the blockchain?

A blockchain is a decentralized, distributed and public digital ledger that is used to record transactions across many computers so that any involved record cannot be altered retroactively, without the alteration of all subsequent blocks.

Each “block” represents several transactional records, and the “chain” component links them all together. When records are first created, they are confirmed by a distributed network of computers and paired up with the previous entry in the chain, creating a chain of blocks or a blockchain.

What is Bitcoin?

Bitcoin is a kind of digital currency that can be sent from person to person without the need for a trusted third party such like a bank or other financial institution; Bitcoin is the first global, decentralized currency.

What is a digital currency wallet?

Much like a traditional wallet you may carry in your pocket is used to carry paper money and debit cards, a digital currency wallet is used to store your bitcoin.

Unlike some digital currency wallets, Coinme will store your private keys to ensure you will not lose access to your funds.

Is Bitcoin safe?

The Bitcoin network has proven to be secure, functional, and efficient. The technology used to build Bitcoin is mathematically secured, and the open-source community is continually working to inspect, audit, and improve on the network.

There have been Bitcoin-related compromises in the past, but this does not reflect upon the security of the Bitcoin network itself. This is typically the result of poor security or negligence on the part of the exchange or individual transacting with the bitcoins. This is why it is essential to be diligent with your bitcoin transactions and passwords.

Where can I spend Bitcoin?

Many companies like Microsoft, Overstock, Reddit and even Etsy shop owners accept bitcoin. Small businesses aren’t missing out on the action; many small shops have started accepting bitcoin, as well.

Visit this link for a partial list of retailers who accepts Bitcoin.


Buying Bitcoin

What if there are delays receiving my Bitcoin?

We try to have your coin to you within sixty minutes of purchase, however, this is not always attainable. It is not common for there to be substantial delays, however, sometimes it can take a few hours for you to see your funds. If you are waiting for your funds for more than a few hours, please contact us to look into it for you.

Support Link 1

Support Link 2

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Buying Bitcoin at Coinstar

Where can I buy Bitcoin at a Coinstar kiosk?

Bitcoin purchases are available at participating retailers that have Coinstar kiosks enabled for the Coinme product. You can use paper money only for Bitcoin purchases. Coins cannot be used for Bitcoin transactions. You can locate a kiosk in your area by using the kiosk finder here.

Can I use coins to buy Bitcoin?

You can only use paper money to buy Bitcoin.

I purchased Bitcoin at the kiosk, now what?

You now need to visit Coinme.com/redeem to begin the process. You can also redeem your printed voucher in your Coinme wallet.

Is there a fee?

There is a 4% fee to use this service.

What if I have more cash than I want to spend on Bitcoin? Can I get cash back?

The Coinstar kiosk cannot give change back, so you must load the exact amount to buy your Bitcoin.

If you want to enter a lesser amount than you have, you can break down your larger bills to smaller denomination bills at the cash register before using the Coinstar kiosk.

Will I get a receipt verifying my transaction?

Yes, you will get a voucher that has a redemption code. You will need this code to claim your Bitcoin purchase on coinme.com/redeem.

Is there a minimum amount I need to load to use the service?

No, there is not a minimum amount.

Is there a maximum amount that I am allowed to insert?

Yes, the maximum amount is $2,500 per 24-hour period.

What if the amount I entered at the Coinstar kiosk doesn’t match the amount I see in my Coinme Wallet?

If the amounts you don’t match, please contact Coinme customer service at support@coinme.com

Do I get UpToken for my Bitcoin transactions on Coinstar kiosks?

Coinme is making plans to integrate UpToken in the coming months.

How long will it take to receive my Bitcoin?

Once you initiate redemption by entering your provided redemption code and completing the KYC process, your Bitcoin transaction will be broadcast to your Coinme wallet. Typically, Bitcoin transactions take between 10-30 minutes to confirm and become available to use. If you have not received your Bitcoin within 60 minutes of redemption, please contact customer experience at support@coinme.com

Coinme Wallet

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