FAQ

Get quick answers to your questions about PayDepot and bitcoins.

What is a PAY DEPOT Bitcoin Kiosk?

Bitcoin Kiosk/ATM is an internet Self Service Machine with a shape and size similar to an ATM, that allows a person to buy Bitcoin with Cash. Bitcoin Kiosks are connected to the Internet, allowing the insertion of cash in exchange for bitcoins given as a paper receipt or by moving money to a public key on the blockchain.

How does a PAY DEPOT Bitcoin Kiosk Work?

There is a general buy process at all bitcoin ATMs:

• A verification step (Enter phone # on the screen after agreeing to a disclaimer)
• Provide a bitcoin address for the deposit (optionally can be generated and printed, but better to have your own with you before using a machine)
• Insert cash into ATM
  • Confirm the operation (bitcoins sent to your bitcoin address at this moment)

What is a typical process flow to buy Bitcoin at any of our PAY DEPOT Kiosk?

The process flow is simple as explained above. But here is an example of how bitcoins can be purchased at this machine:

• Choose “buy bitcoin”
• Agree to Disclaimer
• Enter 10 digit phone # on touch screen to receive a Code Enter Code on screen to verify your identity.
• Choose amount you want to buy (Important! The limits and verification procedures are set by operator and can be different on the same type of machines at different locations.)
• Then there are several options on the screen how you want to provide address where bitcoins to be sent: choose QR code if you have a wallet already (recommended), you can also generate and print an address by machine.
• Then scan QR code of your address, and input cash bills
• Click finish when you are ready, and bitcoins will be sent to you immediately
• At the end you can print the receipt about transaction

What type of identification is acceptable?

Currently, we accept all forms of a government issued ID

Can I buy BTC with my credit card?

No. Unfortunately, cash is the only method of purchase.

What is the current BTC exchange rate?

Current BTC exchange rates can be found displayed on all our terminals.  

How long will it take for my transaction to get completed?

Bitcoin transactions times can vary anywhere from 10 minutes to 24 hours. Factors such as network activity and transaction fees may affect your transaction times. If you still see that your transaction is pending after 24 hours, contact the support team at [email protected] with information pertaining to your transaction.

How can I check the status of my transaction(s)?

Customers can check the status of their transactions by going to https://www.blockchain.com/explorer. For any further inquiries, feel free to contact the support team at [email protected]. 

Is there a daily limit of how much bitcoin I can buy or sell?

Individuals can buy and sell a maximum of $3000 of BTC at our terminals per day.

I accidentally send money to the wrong wallet address, what do I do?

Unfortunately, once you transfer your money to a wallet address there is no way for us to refund the money. It is very important for customers to understand that all digital transactions are final. Blockchain transactions cannot be reversed. 

Why can’t I print paper wallet addresses for my coin?

PayDepot has discontinued the use of Paper wallets, due to various technical difficulties in the past. 

What wallets can I use to buy Bitcoins at PAY DEPOT Kiosks?

Customer has an individual preference what wallet they would like to use: Viz, Coinbase, Airbitz, Bitpay/Copay, Breadwallet etc.

How do I qualify to have PAY DEPOT Bitcoin ATM at my place of business?

You must have busy location in terms of foot traffic and customers at your place of business. Our business model would help you earn income by placing on of the best technologically advanced BTM at your business premises.
Just send email to [email protected] and provide details of business and contact info.
Our Customer Service is available: 24/7