Frequently Asked Questions
What are Bitcoins?
We could write an explanation here, but this one is stellar:
Explain Bitcoin Like I’m Five Great article!
This is a good overview:
And this is a great technical explanation:
- Explain Bitcoin Like I’m Five Great article!
Why should I use coincafe?
- coincafe transfers Bitcoins within minutes or hours of your payment clearing, not days.
- Get a free wallet and start using your Bitcoins immediately. iPhone users included!
- coincafe is the world's first mobile optimized web wallet. Apple cannot shut it down for iPhone users.
- coincafe is fully compliant. We are incorporated in the state of New York, are registered with the U.S. Department of Treasury, and are completely accountable to our customers.
Do I need a separate bitcoin wallet?
Nope. Your coincafe account is a bitcoin wallet. So you can use it to store, send and receive bitcoins.
All bitcoin wallets are compatible with each other, so if you want to send your bitcoins from your coincafe account to somewhere else, that's fine of course.
Do I have to be in New York to use your service?
Nope. The only option you need to be in NYC for is to Buy in Person, or to use the Bitcoin ATM. For all other payment types, you can be anywhere in the US or the world.
How fast will I get my bitcoins?
Most of our payment methods deliver same or next day! For all the details check out our delivery times.
How is your bitcoin price calculated?
The market rate used by coincafe most of the time is the BitcoinAverage Ask price. For full details, click here.
Is this safe?
Yes, this is incredibly safe. We've published our full business details for anyone to see. We are incorporated and registered in the state of New York, each transaction is processed by a major U.S. bank with FDIC insurance, paper receipts, and identification. And of course all of that won't matter at all if you choose to come right to our place of business and make the Bitcoin transaction in person or with our Bitcoin ATM.
Can I trust you? Most definitely.
We are incorporated in the state of New York, and also registered and regulated under federal law as a Money Services Business.
You can find us on the U.S. Department of Treasury (FinCEN) website here. Our MSB Registration Number is 31000083560560.
And on the New York Department of State, Division of Corporations website here.
Can I buy a fraction of a Bitcoin, or do I have to buy a whole one?
You can buy any fractional amount. So you can easily buy $100 of Bitcoin if you wish. Currently the Bitcoin system allows 8 digits after the decimal point. So the smallest unit is 0.00000001, which is also known as a "Satoshi."
I sent bitcoins, can I get them back?
No. Bitcoin transactions are irreversible by design. Sending bitcoin is a bit like sending email; once you've sent it, there's no way to get it back. If you've sent bitcoins, the "Transaction ID" is proof of the transfer.
Do you report tax information?
No. You are responsible for reporting any bitcoin investment gains or losses to the IRS or the tax authority in your country.
Are you going to sell my information?
No. We never sell or share customer information with any third party, including government agencies, unless compelled by law. Your data are kept strictly confidential.
Do you accept personal checks?
Sorry we do not accept personal checks. You can have a cashier's check made at your bank.
Can I send an international wire transfer?
Yep, all of the details are on our wire transfer page.
What are your order limits?
Most of our payment types do not have a minimum.
Mail-in Payment, ATM and in-person cash orders have no limit per se, but as a practical matter it's not the safest thing in the world to transact huge amounts in cash.
I'm under 18, can I still buy bitcoins from you?
Yes, but you won't be able to use our Electronic Bank Transfer payment method (just our cash payment methods).
Can I get a refund?
Due to the irreversible nature of bitcoin trading, refunds are not allowed.
Confused? Need help?
Please note that customer service is currently email and text only.
Just contact us below and we'll answer any questions you might have and guide you through the process.
100% US-based Customer Service.