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HoneyBadger Comment on FTX / Alameda

We are writing this post in regards to the recent news about Alameda / FTX. HoneyBadger assures its customers that we have no relation to FTX whatsoever. 

This is because of HoneyBadger’s non-custodial business model. We do not store assets on behalf of our customers unless requested to do so. Any crypto you buy at our kiosks or online is sent and stored securely in our customers’ own wallets. They control their own assets and we have no access to it.

This serves as an opportunity to highlight the benefits of buying cryptocurrency from us rather than through an exchange. You buy coins from us and we send them to you. Simple.

All transactions completed with HoneyBadger are instant and we never leverage customer assets since we do not hold any. We assure you that any assets you buy from us will be readily available to you whenever you need them.

HoneyBadger firmly believes in the saying, “not your wallet, not your coins”. The company started in 2016 with one mission, to make cryptocurrency accessible to all Canadians. Once our customers buy it, they own it. 

If you have any questions or concerns, please feel free to contact us.

FINTRAC Money Services Business registration: click here.






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For Your Education Needs

How to Set up a Bitcoin Wallet

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Our FAQs are Organized into Sections for You:

What is HoneyBadger?

HoneyBadger can help you buy and sell cryptocurrency through our Bitcoin ATMs, online and in person. 

What is Bitcoin?

Bitcoin is the largest decentralized digital currency that records all transactions on a digital ledger, which is commonly referred to as the Blockchain. 

Can I use a debit/credit card to buy Bitcoin, Litecoin, or Ethereum?

At this time, HoneyBadger does not offer the ability to purchase Bitcoin, Litecoin or Ethereum with a debit or credit card at our Bitcoin ATMs. However, we offer the ability to use INTERAC® e-Transfer to purchase Bitcoin, Litecoin, and Ethereum. 

Can I transfer money overseas?

Yes! Bitcoin is a borderless currency; however, different countries may have different regulations in place. Once funds are transferred, they cannot be retrieved as they are permanently recorded on the blockchain.

Can I exchange for another currency?

At this time, HoneyBadger can exchange between Canadian (CAD), Bitcoin (BTC), Litecoin (LTC) and Ethereum (ETH).

Why have my coins not arrived in my Bitcoin wallet?

Due to the transaction settings that HoneyBadger uses to batch transactions, funds should appear in your wallet within 2 hours. 

All transactions can be viewed on the Bitcoin Blockchain explorer by searching the bitcoin address you have sent your funds to. If your transaction is not yet visible on the explorer, the transaction has not yet been processed. 

Transactions may be delayed due to congestion on the blockchain, compliance, or security concerns. 

Keep a copy of your receipt and contact customer support if you have not received your funds within two business days.

What is transaction batching?

Transaction batching is a mechanism that is utilized on the Blockchain to maximize transaction speed and decrease transaction costs.

How do I use a HoneyBadger Bitcoin ATM?

  1. Find a Bitcoin ATM near you
  2. If you are buying $1,000 or more in a 24 hour period, you will be required to register your account at kyc.badgercoin.com
  3. Bring a Bitcoin Wallet that displays a QR code address or use our custody wallet
  4. Bring & insert cash (we can only accept cash at this time)
  5. Your coins will be sent to the address (QR code) scanned at the Bitcoin ATM

Do I need an account to use a HoneyBadger Bitcoin ATM?

No, all HoneyBadger requires is a phone number that can receive a text (SMS) message to begin using our Bitcoin ATMs. 

I have changed my phone number, how can I connect my account?

HoneyBadger cannot allow customers to use multiple phone numbers as each individual is legally restricted to certain purchasing limits per day. The only way we can follow these laws is by allowing users to have a single phone number per account. If a customer would like to use multiple phone numbers, we will link both profiles together to follow these restrictions. If a customer has a new phone number, please contact us and let us know which phone numbers are yours.

What are the Bitcoin ATM limits per 24 hour period?

<$1,000 Phone number required
$1,000 to $10,000

If you are transacting $1,000 or more in a 24 hour period, you will be required to submit your ID through our KYC form here: kyc.badgercoin.com

For ease, you will be prompted at the bitcoin ATM to complete our KYC form, or you can fill in the form in advance online.

> $10,000 Contact our Over-the-Counter (OTC) support team here: link to OTC page

Address Types Supported By HoneyBadger

*Don’t send coins to these addresses, they are randomly generated

  • Bitcoin – 1, 3, bc1. Examples below:
    • 15e15hWo6CShMgbAfo8c2Ykj4C6BLq6Not
    • 35PBEaofpUeH8VnnNSorM1QZsadrZoQp4N
    • bc1q42lja79elem0anu8q8s3h2n687re9jax556pcc
  • Litecoin – L, M, ltc1. Examples below:
    • LLfeanwXA7LhR92Sst46uBYn94qsR2rJ2h
    • MTfA1ofu5wp6Ss9yrXZXN2ikevdHT7ktqw
    • ltc1q3qkpj5s4ru3cx9t7dt27pdfmz5aqy3wplamkns
  • Ethereum – 0x. Example below:
    • 0x7284eA78334e2960a28A8086e4F67089ca68E47A

My Bitcoin Wallet shows a different amount than the dollars I put in the bitcoin ATM

There are a number of reasons why the dollar amount in your cryptocurrency wallet differs from the dollars you put in the Bitcoin ATM. First, double check what currency your wallet is displayed in. You are purchasing cryptocurrency in Canadian dollars but most wallets display in United States Dollars (USD) by default. This can be changed to Canadian (CAD) in your wallet settings. Double check the amount of cryptocurrency matches what you bought, not the dollar amount. Second, HoneyBadger takes a fee to process transactions, so the rate you will pay is higher than the market pricing displayed online.

My QR code won't scan to buy coins

A couple things may be occurring. Try troubleshooting with these suggestions.

  • Ensure you have the correct crypto address, meaning that you have selected the “Receive” option and have selected the Crypto that you desire. 
  • Confirm that brightness is turned up all the way. 
  • Try turning your phone sideways 
  • Place your QR code under the scanner to allow for the ATM to read it properly

A good practice to use is to confirm that the last three characters match on both, the ATM and the wallet you are sending funds to

The Bitcoin ATM is rejecting the cash I am inserting

First, try using a few different bills if you have them.

Second, check if you hit your purchasing limit for the day ($999 or $10,000 based on ID submitted).

If you are still having issues inserting cash in the Bitcoin ATM, please contact our support team.

I don’t have a cryptocurrency wallet and don’t want to hold my own coins

HoneyBadger offers a custody wallet and you can keep them with us for as long as you’d like. They are kept secure with our experienced team and won’t be moved or used for any other purpose. You can request to withdraw your Bitcoin at any time, free of charge.

I sent coins to the HoneyBadger Custody Wallet. How do I get my coins?

*sending No link is included in this question*

  1. Download a Bitcoin wallet. Follow our guide here to download and set one up
  2. Open the wallet app on your device once the setup is complete
  3. Select Bitcoin
  4. Click “Receive”
  5. A QR code with a string of characters below it will appear. This is your wallet address (it will look something like this 33NKBfY7zqe6XTSY7jEGgZNqfSovX5KW)
  6. Click copy or tap directly on the string of characters
  7. Open your email and paste your wallet address into the email’s body *Double check that the pasted address matches the one in your Bitcoin wallet
  8. Also in the email body, send us your transaction ID & phone number
  9. Send email to support@badgercoin.com with the subject line “Custody Wallet Withdrawal”
  10. A follow up email will be sent to you confirming the transfer

Can I cancel a transaction?

No, we can only refund transactions that have not been frozen by our security system. Any broadcasted cryptocurrency transactions are final.

How long does it take for my coins to show in my wallet?

All small value Bitcoin transactions are sent together (Batched) every 60 minutes, on the hour. All bitcoin transactions over $5,000 are broadcasted immediately. Litecoin and Ethereum are broadcasted immediately. 

If you don’t see any coins in your wallet it is likely that they haven’t been broadcasted to your chosen blockchain yet. 

Broadcasted transactions will appear in your wallet as “unconfirmed

If your coins are showing as “unconfirmed”: your coins are being processed on your chosen blockchain. HoneyBadger does not control this process other than paying the processing fee (mining fee) that determines the speed transactions are processed. If the status is unconfirmed, you will need to wait for the network to process your transaction and reach a confirmation

If you did not scan an address from your own wallet, you will never see the coins appear.

What are ``unconfirmed`` transactions?

An “unconfirmed” transaction is a transaction that has not yet been included in the blockchain. It stays in this status until it is confirmed. Until a transaction has been confirmed at least once, it cannot be considered final.

Can I send coins to my exchange account?

Yes. Just scan the QR code to your exchange account. Usually listed as “deposit” or “recieve” next to the coin you would like to purchase. Make sure you select the correct coin and network type.

How to sell your cryptocurrency

  1. Find a Bitcoin ATM near you 
  2. Bring your Bitcoin Wallet (cryptocurrency wallet)  (wallet how to)
  3. If selling more than $1,000, register your account at kyc.badgercoin.com
  4. Type in your mobile phone number on the keypad, press continue
  5. Enter the SMS code sent to your phone, press continue
  6. Select the type of coin you will be sending (selling) to us
  7. Chose amount of cash you’d like to withdraw
  8. Scan the QR code displayed on screen with your cryptocurrency wallet
  9. Ensure you send the exact amount of cryptocurrency requested to the QR code displayed
    • Failure to do so will delay your transaction
  10. Press “complete transaction” or take your receipt
    • All withdrawal attempts print a receipt, even if you did not send us anything
    • We do not owe you cash if you only have a receipt
  11. Wait for 1+ confirmation (can be seen in your wallet)
  12. You will receive a text that your cash is ready – when your transaction has 1+ confirmation
  13. Come back to the same Bitcoin ATM you initiated the transaction from
  14. Press “redeem”
  15. Type in your mobile phone number on the keypad, press continue
  16. Enter your redemption code, press finish withdrawal
  17. Cash will be dispensed immediately from the lower right-side slot

How do I use my redemption code to collect cash?

Follow these instructions to redeem your cash at a bitcoin ATM:

  1. Select “Redeem” on the screen
  2. Enter your mobile phone number and press enter
  3. Enter the SMS code sent to your phone and press continue transaction
  4. Enter your redemption code as displayed on the receipt or text message
  5. Cash will be dispensed immediately from the lower right-side cash slot


Cash can be redeemed if coins have been successfully sent to HoneyBadger and have received a minimum of 1 network confirmation. Once you have completed a “sell crypto” transaction, you will receive a text, or you can use your receipt with the redemption code displayed on it. Please note that you can only redeem cash at the same bitcoin ATM where the transaction was initiated.

I want to use my redemption code at another location

Need to change redemption locations? Contact us and we can change it for you.

How long does my redemption code last for?

We cancel redemption codes after 30 days. Contact us for a new code to redeem your cash after 30 days.

Why are my coins not getting a confirmation?

Confirmation times depend on how much you paid in mining fees and how busy the blockchain is. Please view a block explorer or read here for more information on how sending a Bitcoin transaction works.

I received a text that I did not send enough coins. What should I do?

You did not send enough coins to complete your withdrawal so we require you to top up the transaction to receive your cash. Please follow the instructions in the text to send the exact amount of coins requested to the address sent to you. 

If you don’t have more coins, contact us and will generate a new redemption code for the value of cryptocurrency you sent us.

My wallet / exchange account says HoneyBadger’s QR code is invalid

HoneyBadger adopts the most recent address types for all blockchain networks as soon as we can. See wallet address types supported by HoneyBadger for reference. Typically this error occurs when your wallet or exchange (or HoneyBadger) hasn’t updated their software version. If you are receiving an invalid wallet error, check that you are:

  • Sending to the correct network/coin/chain
  • The wallet / exchange supports the address type we are using
  • Update your wallet
  • Send from a different wallet

I received an invalid redemption code error

You may have received an invalid redemption code error for one of the following reasons:

  • You may have sent an incorrect amount of cryptocurrency. Make sure to send cryptocurrency in the amount exactly as shown on the screen. Please see My redemption code won’t work and I sent HoneyBadger coins
  • The cryptocurrency network is congested resulting in delayed transactions. Please keep your receipt to redeem the cash at a later time
  • Double check you sent coins to the correct wallet address (QR code) provided by HoneyBadger
  • Your wallet may have failed to send the transaction. Please refresh your wallet to double-check the transaction status. If you are unsure about your coins being sent or the number of confirmations (1 must be completed) that have occurred, please refer to your wallet software or a blockchain explorer such as blockchain.com or mempool.space
  • Cash can sometimes get stuck when leaving our bitcoin ATM. If you believe this has happened, contact us.

My redemption code won’t work and I sent HoneyBadger coins

Please check that you have:

  • Gone back to the original bitcoin ATM that you initiated the sell transaction from
  • Sent coins to the wallet address (QR code) provided by HoneyBadger
  • Sent enough coins to complete your withdrawal
  • Not already used your redemption code

If you have done all of the above, please contact us.

I used my redemption code but did not receive all my cash

Cash can sometimes get stuck when leaving our bitcoin ATM. If this has happened, contact our support team and we will ensure you get all your cash back.

Can I send/sell coins from my exchange account?

Yes! You can send from any exchange account, pending their terms. Coins can usually be taken off your exchange by using the “withdraw” button on your account. Please ensure you are using the correct coin and blockchain network when sending to us.

My Ethereum transaction ran out of gas

Paying Ethereum mining fees doesn’t mean your transaction will send and reach finality. If you don’t pay enough “gas” for the transaction, it will not be completed and the coins will stay with you. Check your wallet history to see if your transaction ran out of gas & check if the Eth is still there. 

The verification SMS/text code to log in isn’t being received

You have either opted out of SMS communications or texts from us have been restricted by your provider. Please contact our support team.

The HoneyBadger Bitcoin ATM isn't working

Usually the Bitcoin ATM resets and comes back to a normal state when it reconnects to the internet. If you are unable to transact, please contact our support team.

The HoneyBadger Bitcoin ATM reset during transaction

Any cash inserted into the bitcoin ATM during a transaction will be sent to your provided address, even if the bitcoin ATM resets. If you don’t see your coins arrive, contact our support team. 

No receipt printed

An SMS verification will be sent to you after each transaction. Contact us if you need a second copy of your receipt.

The receipt is blank/missing information

An SMS verification will be sent to you after each transaction. Contact us if you need a digital second copy of your receipt.

I am stuck on the registration screen

Your identification documents need to be submitted. Please proceed to: kyc.badgercoin.com.

You must use the same phone number as the one you submitted your ID with.

My ID was not approved

Your account may be subject to review. For an update on your account status, please contact us.

What is the minimum transaction size?

$25,0000 Canadian (CAD)

How can I send my funds?

You can send funds via wire transfer from your banking institution.

How long does it take to complete a transaction?

The time it takes to complete the transaction depends on how long the funds take to arrive at HoneyBadger. When the funds have arrived, a HoneyBadger sales associate will contact you to lock-in the exchange price. 

Is there a limit for purchasing online?

Transaction sizes depend on what your bank limit is right now. For larger transactions, consider our OTC option.

Why should I use HoneyBadger's Online Portal?

HoneyBadger will transfer your crypto to whatever wallet you provide at a competitive price without the use of a Centralized Exchange! Your Wallet, Your Keys, Your Crypto, Your Choice!

Is HoneyBadger's Online Portal safe?

Yes! HoneyBadger is using a highly sophisticated secure site and backend system to ensure the safety of each, and every transaction conducted.

Do I need a Wallet to buy with HoneyBadger?

Yes. In order to buy cryptocurrency, you will need to have a Wallet address for your coins to be sent to. We recommend using Green Wallet. If you’d like help setting up your Wallet, click here.

I’ve sent payment, how long until I receive my coins?

We aim for transactions to be processed within 2 hours.

All transactions can be viewed on the Bitcoin Blockchain explorer by searching the bitcoin address you provided to us. If your transaction is not yet visible on the explorer, the transaction has not yet been processed. 

Transactions may be delayed due to congestion on the blockchain, compliance or security concerns. 

Contact customer support if you have not received your funds within two business days. 

What does the status of my transfer mean?

In the HoneyBadger’s Online Portal, you can view all your transactions and their status. The funds are sent through a third-party payment provider, meaning that HoneyBadger is not in control of the funds until the transaction is sent to us. At this point, we will send your crypto to your wallet. 

  • Payment Pending – We are waiting for Interac to transfer your funds 
  • Payment received – We have received the payment, crypto should be sent within 2 hours
  • Wallet transfer successfully – Your crypto has been successfully transferred to your crypto wallet
  • Payment canceled – We have not received payment and crypto is not being sent to your wallet. In this case, you have missed the window to complete your purchase but feel free to create another order. This is usually because your payment has timed out.

Why am I not being redirected to the payment page?

To ensure you are properly redirected to the nuvei payment page, please ensure that you turn off the pop-up blocker on your mobile device or web browser. We suggest using Google Chrome or Microsoft Edge while accessing our Online Portal.

Refund Policy

In the event HoneyBadger discontinues a transaction prior to confirmation on the blockchain network, a refund will be made available of the transaction amount paid by the customer, not including the processing fee. Transactions may be discontinued for any reason, including in the event HoneyBadger believes the transaction may be suspicious or fraudulent, or where a customer has designated an invalid wallet address.


We are only able to provide refunds on transactions that have been frozen, flagged or not sent due to being in a compliance review. All transactions that are posted to the blockchain are outside of HoneyBadger’s control. No one is able to reverse properly built cryptocurrency network transactions once they are sent due to their design.

Our policy is to refund all money by cheque to protect the privacy of our customers. We are only able to send refunds via cheque so that we can verify that the correct individual receives their money back. Electronic methods of payment are prone to fraud and we chose not to expose our users to further risk than they’ve already been exposed to.

Refunds are processed on the second and fourth Tuesday of every month and sent via Canada post to the verified physical address provided. Standard shipping times for each region will apply (approximately 5-10 business days from the cheque processing date). 

Refunds are provided only to the original sender and sent via Canada Post to a confirmed physical address. Processing fees are subject to change without notice.

What are refund fees?

Processing fees are intended to offset HoneyBadger’s administrative costs incurred in monitoring and discontinuing transactions and in processing refunds.

Refund Processing Fees

Transaction Total Fee Applied to Refund Total
Transactions up to $1,000 25% of the transaction value
Transactions over $1,000 Greater of $500 or 15% of the transaction value

How does the lending program work?

We provide cash loans for individuals that hold Bitcoin. Rather than selling your cryptocurrency, we hold your coins and provide you cash to spend, invest or use how you see fit. When the lending term is finished, you can repay the cash borrowed (plus interest) and have your bitcoin returned to you. Similar to using your house as equity for a loan to invest further. Selling bitcoin as an individual as a taxable event, while taking a loan out is not.

What happens if there is a margin call?

If the price of Bitcoin drops, HoneyBadger will contact you directly to send additional bitcoin (if required) to ensure the collateral obligations are met. If coins aren’t sent within the specified time frame, HoneyBadger has the right to sell the coins held to meet your margin requirements. 

What type of information will I need to provide?

HoneyBadger requires all borrowers to provide contact details and government issued photo identification for our KYC (Know Your Customer) and AML (Anti-Money Laundering) policies. We do not run a credit check on our customers.

How will my bitcoin be stored during my loan?

Your coins will be held in cold storage and will be visible at the bitcoin address specified in your lending contract documentation and will not be re-hypothecated.

Phone numbers will be requested on all transactions, no matter the size. Your identification will only ever be required on the first transaction over $1,000. After providing government identification, you will be able to purchase up to $10,000 per 24hrs at all of our ATMs. If we are unable to verify your identity, we will request that you resubmit your documents on your next bitcoin ATM visit or via kyc.badgercoin.com. If you need any assistance with enrollment, please reach out to HoneyBadger Support.


We are legally required to collect customer information as we are a registered Money Services Business (MSB) and are regulated by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). These regulations are made to prevent money laundering, terrorist financing and other financial crimes.

Buying or selling cryptocurrencies through an ATM can be compared to a foreign exchange transaction. HoneyBadger charges a spread above and below the market rate (spot price) of each cryptocurrency as well as a flat rate to cover the cost of mining fees. Please note our Bitcoin ATMs only accept cash and are priced in Canadian dollars. Rates are subject to change based on market conditions. These rates are displayed on the HoneyBadger Bitcoin ATMs at the time of purchase.

Security holds and denied transactions

HoneyBadger implements security protocols in place for the protection of our customers.  Each transaction undergoes a compliance review for suspicious or fraudulent activity, to verify the customer at the ATM (to comply with KYC, or “know your client” requirements) for anti-money laundering (AML), and for other reasonable purposes. We reserve the right to retain all transactions until we can complete our security checks and verify the legitimacy of the transaction, and if suspicious or fraudulent activity is suspected, HoneyBadger reserves the right to delay or refuse to process any transaction being attempted using its ATMs. The Services may only be used for lawful purposes and in a lawful manner.

Any problems or issues with our services can be resolved by contacting our support team.

I think I am a victim of fraudulent activity – what do I do?

  1. Contact HoneyBadger Support to get more information about your transaction
  2. Contact your local police or RCMP and file a report
  3. Send HoneyBadger your police report file #
  4. Report the fraud to the Canadian Anti-Fraud CentreBetter Business Bureau or Financial Consumer Agency of Canada

I have been threatened to send cryptocurrency to someone I have not met – what do I do?

DO NOT send cryptocurrency to anyone you do not know! Contact your local police or our support team right away. Bitcoin transactions are permanent, irreversible and provide no buyer protection. When sending funds using cryptocurrency to a wallet you do not control, you are risking your own money.

HoneyBadger spends a significant amount of time, money and effort in preventing fraudulent, suspicious or unwanted transactions from occurring, but it is impossible for us to stop them all. If it doesn’t feel right, don’t do it!

Learn more about common scams and fraudulent activity involving cryptocurrency at our fraud information page.

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