Localcoin

To simplify the process and experience of buying or selling digital currencies globally while upholding privacy and security standards.

Founded in 2017 in Toronto, Localcoin operates one of the world's largest Bitcoin ATM networks with over 1,000 machines across Canada, Australia, New Zealand, Hong Kong, and Poland. The company lets customers buy and sell cryptocurrencies like Bitcoin, Ethereum, and Litecoin using cash at retail locations or through online services. As a registered Money Services Business with FINTRAC, Localcoin has served over 250,000 customers by partnering with convenience store chains like Gateway Newstands and Hasty Market to make crypto accessible in everyday locations. The team describes itself as rapidly growing and startup-like, with a focus on bringing digital currency to mainstream finance.

Products

The core product is a network of over 1,000 cryptocurrency ATMs that let users buy and sell Bitcoin, Ethereum, Litecoin, Dogecoin, and other digital assets using cash. Customers can also sell crypto online for INTERAC e-Transfer or pre-sell cryptocurrency to convert it to cash for pickup. The ATMs support 10+ cryptocurrencies including BTC, ETH, LTC, ADA, XRP, DOGE, USDC, USDT, TRX, and SOL. All transactions use SMS verification or one-time ID checks, removing the need for traditional bank accounts or complex exchange sign-ups.

Funding

Localcoin secured $1 million in seed funding in February 2017 but appears to have grown primarily through bootstrap operations since then. The company reports no additional institutional funding rounds, with some sources indicating it has maintained revenue-driven growth. Annual revenue is estimated between $18-20 million, reflecting its position as a significant player in the cryptocurrency ATM sector across its international markets.

Recent news

In April and May 2026, Localcoin publicly challenged a Canadian federal government proposal to ban cryptocurrency ATMs, calling for industry consultation and collaborative efforts to improve regulation and fraud prevention instead of a blanket ban. This followed a March 2026 initiative where the company collaborated with the Royal Canadian Mounted Police (RCMP) and Ontario Provincial Police (OPP) to enhance fraud prevention training and community outreach to protect users from crypto scams.

Technology

Built on AWS with multi-account Organizations architecture, VPC/private subnets, Transit Gateways, and advanced IAM governance. Infrastructure managed through Terraform with GitLab CI/CD pipelines and automation scripts in Python, Go, and Bash. Containerized workloads run on Kubernetes (EKS) or ECS with ECR for image management. Observability through Datadog, with Prometheus and Thanos as alternatives. Security includes AWS Security Hub, CIS benchmarking, HashiCorp Vault for secrets management, and Cloudflare Zero Trust, WARP, and DNS services. Data analytics supported by Snowflake and dbt.

Benefits

Hybrid work environment with two days per week in the Etobicoke office and flexible hours. RRSP group matching program and customizable health and wellness plans with an annual allowance spend account. Professional development opportunities covered by the company, including industry events and dedicated time for learning during work hours. Regular bi-monthly social events, team meetings, and collaborative workspaces. Unlimited travel insurance and exclusive discounts at Localcoin ATMs nationwide.