BC Bitcoin is one of the best brokerage platforms brokerages operating in the UK. They have been providing users with cryptocurrency buying and selling services since 2016, and are a registered business in the Companies house under J&M Trading Limited. As a bespoke brokerage, BC Bitcoin are willing to accommodate for specific deals that a customer might have in mind in regards to the buying, selling, or holding of individual cryptocurrencies. So, if you’re looking for something specific then you can just give them a call.
As a cryptocurrency brokerage, BC Bitcoin offers its users the ability to buy and sell a large number of cryptocurrencies at a fixed price, using bank transfer for both deposits and withdrawals. They operate similarly to a bureau de exchange at an airport, which offers you fixed prices to exchange your currency into a foreign currency. With BC Bitcoin, you will be allowed to buy cryptocurrency with fiat currency (pounds, euros, or dollars), or sell crypto for fiat.
BC Bitcoin will send your coins to a wallet address you provide, or if you prefer they can store your cryptocurrency for you.
BC Bitcoin sells and buys the following cryptocurrencies:
If the specific coin you wanted to buy or sell is not accepted, you can still contact BC Bitcoin’s customer service to see if they can arrange a specific deal for you.
BC Bitcoin accepts deposit payments through bank/wire transfers from all UK, EU, and non-EU bank accounts. However, the speed at which payments are recognised depends on where the bank account is from. UK bank transfers are accepted instantly, whereas EU bank transfers are accepted within a working day, and non-EU transfers within 1-2 working days. However, non-EU transfers could take up to 5 days depending on the individual bank completing the transfer.
BC Bitcoin allows its customers to speak with them on a direct line to discuss the availability of other payment methods being used. For example, if you wanted to use your VISA debit card to make a deposit to buy bitcoin, you may be able to contact BC Bitcoin to organise a specific deal for you. However, they are not always able to accommodate specific customer requests.
What devices can I use BC Bitcoin on?
You can use BC Bitcoin on any device that has access to the internet and BC Bitcoin’s website. However, they do not have a native mobile app. You can still access BC Bitcoin using:
BC Bitcoin is very easy to use. You can buy and sell cryptocurrencies quickly on the website by clicking on the ‘buy coins’ or ‘sell coins’ buttons located on the top of the page. Depending on the cryptocurrency that you wish to buy or sell, BC Bitcoin will provide fixed prices for the respective cryptocurrency. As long as a user has a verified account, they will be able to buy and sell coins easily and immediately.
The services offered by BC Bitcoin are tailor-made for users who do not understand how cryptocurrencies work, which makes the platform easy for beginners to operat. They also have a customer support team that is willing to help users with queries during working hours.
BC Bitcoin can facilitate payments from anyone residing in the US and the EU, which includes the UK. If you are located outside of the EU and the US, as long as you are able to make payments to BC Bitcoin in pounds, dollars, or euros, you may be able to buy cryptocurrencies from BC Bitcoin. However, you must speak to their customer support team for more information. Currently, the list of countries BC Bitcoin supports includes:
To verify your account with BC Bitcoin, you must provide a photo of a document verifying your identity. This includes a passport photo, a valid driver’s license, or a government issued ID.
BC Bitcoin also requires you to take a selfie of yourself holding a signed version of a contract that confirms that you understand your legal relationship with them (a terms of service agreement). After these two steps are completed, all you will need to provide is your first and last name to verify your account.
BC Bitcoin’s customer support team is available during UK working hours, meaning that they operate from 9 to 5 (London time) Monday to Friday. However, they may be able to facilitate payments on the weekends as well, so long as a transaction is running. Their customer support team are experienced and speedy, and are accessible through:
BC Bitcoin’s website is extremely easy to use. Users can quickly buy or sell cryptocurrencies by clicking on the ‘buy coins’ or ‘sell coins’ buttons on the top of the page. After that, they will be redirected to pages where users can look at specific, fixed prices that BC Bitcoin offers for the buying or selling of an individual cryptocurrency.
Their set prices already include commission, which means that there are no hidden prices for the customer. Once a customer’s payment is deposited for a specific order, they can expect to receive cryptocurrency or fiat currency within a matter of minutes during UK working hours.
BC Bitcoin is a secure, trusted brokerage. As long as a customer is able to make a payment to them to carry out a specific transaction, customers will be guaranteed to receive the agreed funds in their wallet or bank account.
However, their online account security is slightly lacking. There is currently no option to have a 2FA (Two-Factor Authentication) feature connected to the account, which means that your BC Bitcoin account is only protected by your e-mail address (username) and password.
There are no additional trading fees incurred using BC Bitcoin. This is because their trading commission is already included in the set prices offered to clients for the buying or selling of cryptocurrencies. Furthermore, BC Bitcoin does not charge for withdrawals or deposits.
When buying cryptocurrencies, users might also incur a negligible transaction fee depending on whether the cryptocurrency they’re buying is mineable. The only exception is the buying of bitcoin, where BC Bitcoin agrees to cover the mining fee incurred.
For example, if you were buying Ethereum, the transaction fee would usually amount to less than £1 worth of ether. If the cryptocurrency bought is not mineable, then no additional transaction fee is incurred.
There are no set withdrawal or deposit limits when using BC Bitcoin. If you are an institutional investor and wish to invest large amounts of money into buying cryptocurrencies, BC Bitcoin are able to accommodate you with their OTC (Over The Counter) service, which is available on the website.
BC Bitcoin is a brokerage that can be used by anyone, even a cryptocurrency trading beginner. Their site is simple to navigate, and prices offered for individual cryptocurrencies to buy and sell are shown clearly. A large benefit in comparison to other brokerages that BC Bitcoin provides is the large range of coins that can be bought or sold.
Many customers have left many positive reviews of BC Bitcoin on platforms such as Trustpilot, speaking to the professionalism of the customer support team. They are also a registered business within the UK, which means that they are secure and legitimate.
However, they do have limited options when it comes to payment methods accepted. Although they might be able to make special arrangements on request, by default BC Bitcoin only accepts pounds, euros, and dollars for fiat currency payments via bank transfer. This makes the brokerage a little less accommodating towards users who might want to pay with an electronic wallet like PayPal, or by credit/debit card.
Not really an insurance scheme, the ‘Bitcoin Insurance’ is also called ‘Cold Storage’ on BC Bitcoin’s website. Effectively, BC Bitcoin allows customers to store their bought bitcoins and other cryptocurrencies with them in cold storage in exchange for a 0.5% entry fee, and a 0.75% annual fee that is paid proportionally on a monthly basis. Users who want to withdraw their funds from cold storage will also have to pay an exit fee of 0.5%.
Because their cold storage wallets carry security features like biometric security, and a multi-signature release mechanism, customers do not have to fear about their coins getting lost. BCBitcoin are also held liable to the customer for all funds stored by contract.
BC Bitcoin are able to facilitate customers who wish for BC Bitcoin to conduct their trading on behalf of them. For example, if a customer wishes to trade bitcoin for ether, BC Bitcoin is able to do so on behalf of the customer in exchange for an agreed fee. They can then send the ether into a wallet address of a customer’s choice.
Just like how an individual’s funds are stored by BC Bitcoin for insurance, BC Bitcoin can agree to hold crypto coins on escrow on behalf of two parties who wish to have their coins stored by a third party.
BC Bitcoin is a secure, trusted, bespoke brokerage that buy and sell a large range of cryptocurrencies at competitive prices with no hidden fees. Their website is easily navigable and hosts a wealth of extra features that customers can utilise.
However, some customers may still feel that the payment options accepted are rather limited, and the £500 deposit minimum might be a bit daunting if you are a first-time buyer.
As a bespoke brokerage, BC Bitcoin’s customer support team are sometimes able to broker specific deals that customers want to make that larger, automated brokerages might not be able to.
Decided to register a BC Bitcoin account? Great, here’s how it’s done: