Attention! Effective Monday, May 1st, 2017, PTYcoin is moving to a new office in Oceania Business Plaza (only 150 meters away from our current location). We will continue to attend clients in our current office for the remainder of this week. To avoid confusion, the new address will be published on this website Monday morning.
Monday - Friday 11am - 7pm
Punta Pacifica, Panamá, República de Panamá
WhatsApp: +507 6570-9999 / +507 6455-0955
Email: [email protected]
In order to exchange dollars to bitcoin, we require the following information up-front:
You should contact us via Whatsapp to confirm we are in the office and have bitcoin available. We will prepare the paperwork so that upon your arrival, we can process the transaction, lock the price, and send you the bitcoins as quickly as possible.
Under normal conditions, it takes approximately five (5) minutes to complete a transaction, however during times of extreme network congestion, it may occasionally take longer before we are able to send. You are free to wait in the reception area while this happens, but it's not a requirement.
In order to exchange bitcoin to dollars, we require the following information up-front:
You should contact us via Whatsapp to confirm we are in the office and have dollars available.
We will provide a Bitcoin address for you to send to. We will lock the price once we have received the bitcoins and the transaction has one confirmation on the blockchain. Once that happens, we will notify you that your dollars are ready to pick-up. We will have the paperwork ready prior to your arrival.
Under normal conditions, it takes approximately ten (10) minutes for a bitcoin transaction to confirm, however during times of extreme network congestion, it may occasionally take longer. In extreme cases, a bitcoin transaction may take as many as 72 hours before the network rejects it and your bitcoins are returned to your wallet. We strongly advise you choose an appropriate fee when sending bitcoin to ensure that it confirms in a timely manor.
The current recommended fee is satoshis/byte to ensure the fastest confirmation time.
Our minimum amount is currently USD $ 20.00.
Customers wishing to exchange amounts greater than USD $ 3,000 will be required to complete our Know-Your-Customer Information form and provide ID and a proof-of-residence document, which can be any one of the following:
The original documents should be brought to us for verification. We will make copies and return the originals to you.
Customers wishing to exchange amounts greater than USD $ 10,000 within a one week period will be required to complete our Declaration of Source of Funds form and provide supporting documentation, which we will verify and make copies of before returning the originals. By law, these transactions must be reported to the Unidad de Análisis Financiero in Panamá.
PTYcoin only processes in-person cash transactions in USD or BTC.
That said, there are many individual Bitcoin brokers operating in Panama and around the world who accept payments online. We recommend LocalBitcoins.com to assist you in finding a broker close to you.