If you want to find out what country houses the biggest number of crypto exchanges in the world, there is no doubt it is the UK. However, not all crypto exchanges registered in this country offer such a wide selection of services and support so many crypto coins as BC Bitcoin. This brokerage company is a one-stop shop for all the possible solutions related to crypto, but is this platform trustworthy, and can it be called secure for users?
Look: this BC Bitcoin review explains what kind of platform it is, what features it has, and whether it is worth your attention.
Table of Contents
What is BC Bitcoin
BC Bitcoin is a cryptocurrency brokerage platform that offers a wide selection of crypto-related services including buying, selling, exchanging, trading, escrow, and cold storage.
BC Bitcoin is owned and operated by J & M Trading Limited, a UK company registered in England and Wales. The service was launched in 2017 and has already received a 5-star Trustpilot rating with over 410 reviews. This UK broker calls itself the UK’s most trusted one, but is it really so and what are the main features of this service? Let’s find out.
BC Bitcoin features
This popular UK Bitcoin broker has a number of features to consider:
- Buying and selling a variety of cryptocurrency in three simple steps;
- Support for coin trading;
- OTC services for experienced traders and businesses;
- Escrow services both buyers and sellers can benefit from;
- Secure cryptocurrency cold storage;
- Possibility of mining pool purchases conducted via Bitclub Network;
- Rewarding referral program;
- NFT services;
- Immediate bank transfer on crypto sales;
- Multilingual website etc.
Team
The success of BCbitcoin has been achieved thanks to the efforts put by a competent team standing behind it. These are traders with over 30 years of combined trading experience. There are 6 professionals in charge of the company. Jamie G and Mark L are two directors with extensive trading experience and endless faith in digital money. Other team members are Tyler S (a sales manager), Luke F (sales and SEO specialist), Tony L (account manager), and Tom M (chief technology officer). They have managed to make BC Bitcoin a trusted leader in the crypto market and continue to contribute to its success.
Licenses
BC Bitcoin is a registered UK company owned by J & M Trading Limited. The last one is temporarily registered under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations of 2017 pending the Financial Conduct Authority’s determination of the application.
The company also possesses a Certificate of Compliance issued by Secure Trading Financial Services that the company is compliant with the Payment Card Industry Data Security Standard 3.2.1.
Services
The range of services offered by BC Bitcoin is quite impressive since this service has tried to cover all possible solutions related to crypto available at the moment. Let’s look at every service closer.
Brokerage
BC Bitcoin offers users to buy and sell cryptocurrency in a fast and simple manner. There are two categories on the menu that offer to buy and sell crypto, so it does not take much time and effort to start the process. Both processes consist of three simple steps and there are clear hints for new users too.
Coin storage
Crypto assets can be stored on BC Bitcoin too. The platform offers cold storage services for over 30 cryptocurrencies on native blockchains as well as ERC20 Tokens, NEP5 Tokens & TRC20 Tokens. This cold storage is protected with multi-factor authentication and multiple approval safeguards. It supports same-day withdrawals and provides unlimited storage with quite affordable fees. The last ones are charged on the basis of the number of coins deposited and the duration of time they are in our custody and include entry, annual management, and an exit fee that is 0.5% each.
NFT services
BC Bitcoin joined the CryptoKitties community in 2017 when it bought the first NFT and adopted the BC Kittie. Cryptokitties is an online trading game where users can buy, sell, collect and trade digital kitties with unique designs, qualities, and characteristics on the Ethereum blockchain.
Currently, the service supports buying and selling NFTs as well as is ready to assist and guide how to deal and interact with unique digital art and scarce crypto assets.
Recurring payments
The service of recurring payments allows users to schedule future cryptocurrency purchases. They can decide what coin to buy, what amount, and how frequently to do that. There are two types of recurring payments you can order:
- Standing Order;
- Direct Debit regular payments.
These payments may be processed in GBP and EUR and are applied standard fees like for other corresponding orders. Recurring payments can be canceled anytime and are available only to users who have verified their identities according to KYC requirements. Purchased coins can be delivered to any permanent, new address, or cold storage.
Coin trading
BC Bitcoin offers customers to easily trade their coins on demand through this brokerage. There are several reasons to choose BC Bitcoin to trade cryptocurrency:
- Fast order execution;
- Transparent fees and a confirmation email with all the details of the transaction;
- Over 110 different cryptocurrencies available in the market;
- Best market prices.
If you want to trade coins on this brokerage platform, you should send a request to customer support and send funds to the address provided. In a couple of minutes, you will receive achieved coins to the wallet address of your choice.
OTC trading
Over-the-counter desk trading is a service offered to individuals and businesses looking for buying and selling large quantities of cryptocurrency. You can order high-value transactions and get the assistance of a personal account manager who is always ready to act on your instructions or assist you with placing orders at the price you are looking to buy or sell at.
How does it work
Now when you have a clear understanding of a wide range of services offered on the platform, it is time to find out how it works.
Registration
The first step to all the range of BC Bitcoin services is signing up its platform. The procedure is simple and fast taking only a couple of minutes.
- Open the BC Bitcoin website and press the Register button in the upper right corner.
- Enter the email address and set a password.
- Send your application.
Verification
When you register an account, the next step is to pass the verification procedure. You should upload a copy of your ID or driver’s license as well as take a photo of yours holding a contract. Then, enter your profile information like the first name and surname and press the Save information button. You will get a notification when the verification procedure is completed.
User experience
BC Bitcoin website interface is intuitively friendly and clear. It is available in 12 languages and all the services are listed on the menu for quick access to them. If you face any difficulties, there are video guides and articles as well as several ways to access customer support too.
If you want to follow the company, there are a myriad of channels to do that including Facebook, Telegram, Twitter, Instagram, and others.
Supported countries
BC Bitcoin offers services in lots of countries around the globe. However, the list of prohibited jurisdictions where its services are not available is quite big too. There are over 160 countries and a full list can be found here.
Supported currencies and coins
BC Bitcoin lists almost 100 coins. Top 10 cryptocurrencies are among them, so you can easily buy Bitcoin, Ethereum, XRP, Litecoin, Bitcoin Cash, Cardano, and others.
When it comes to fiat currencies, you can buy coins only for GBP and EUR.
Payment options
The range of banking options supported by BC Bitcoin is quite big. Customers may choose from credit and debit cards, FPS, and SEPA Bank Transfers. When it comes to coin selling, only bank wire transfers are supported.
How to buy coins
When you have registered on the platform, verified your identity, and entered your account, you can buy coins by following these steps:
- Press the green Buy coin button on the menu.
- Select the coin you want to buy.
- Tick a payment method.
- Select your currency.
- Provide a wallet address.
- Send a payment using the credentials provided.
- Receive your coins.
How to sell coins
Selling coins is allowed only to verified users, so you should log into your account and proceed with the following stages:
- Input the coin to sell and receive a valuation.
- Enter the amount.
- Choose the currency to receive.
- Send coins to the wallet address provided.
- Receive the payment.
Coin swap option
There is also an easy coin swap feature where you should select coins and enter the amount to give to get another coin. There are 3 steps to complete to swap coins:
- Select a coin to exchange, the amount, and the receiving coin.
- Send coins to the wallet address provided.
- Receive other coins to your wallet address.
Fees
BC Bitcoin has a standard fee that depends on the banking method chosen.
If you pay with a bank wire transfer, the fee is 4% for Bitcoin and 5% for all other coins except when that order is greater than €/£5,000 in which an order will be subject to a 4% fee.
Debit and credit card payments are approximately 2.5% more expensive and you can see the total amount you should pay if you perform a coin evaluation.
Limits
There is no information about limits on this exchange except for changes in the fee. It is 1% lower if the order amount is over €/£5,000.
Customer support
The company calls its customer service unrivaled, and many reviews support this viewpoint too. Users can feel free to contact customer support representatives by email, live chat, or via phone. A blue get back button is provided in the lower right corner of the screen and offers to enter the name, email address, and text of the message to get a response. The phone number can be found at the bottom menu and looks as follows: +44 1992 804 750. Any queries by email should be sent to [email protected].
The company’s business open hours are between 8 AM and 11 PM (UK time).
Referral program
Loyal customers can take advantage of a rewarding referral program that lasts forever. Every registered user can copy a referral link, share it with others, and get rewards. The commission received by affiliates is set to 0.5% of referred users' trading volume. The commission is calculated in GBP, but the equivalent value is paid out in cryptocurrency. The minimum amount to get a payout is £100 in value.
Pros&cons
BC Bitcoin is a trusted leader in the crypto industry. At the same time, in addition to multiple benefits, it also has some downsides to consider.
Pros:
- Wide range of services;
- Support for many assets;
- Friendly and responsive customer support;
- High security level;
- Excellent rating;
- Cold storage possibilities;
- No hidden costs.
Cons:
- High fees;
- No round the clock support;
- Many restricted countries.
Is BC Bitcoin safe?
There are no reasons to doubt the safety of BC Bitcoin. This brokerage company has already gained crystal reputation in the crypto industry and operates in accordance with British laws. It is a certified exchanger with an excellent rating on Trustpilot and various security measures for customer protection.
F.A.Q
What is BC Bitcoin?
This is a UK-Based brokerage company that offers numerous crypto-related services to users.
What services does BC Bitcoin offer?
BC Bitcoin is a universal brokerage company that offers a wide array of services including crypto buying and selling, trading and swapping, coin storage and recurring payments, OTC trading and NFT support, etc.
How fast are payments processed?
UK customers can receive payment the same day, while EU clients should wait for 1 day more and receive money the next day.
What coins are supported on BC Bitcoin?
The range of assets available for buying and selling on this brokerage service is quite big including over 100 assets and two fiat currencies such as GBP and EUR.
Is BC Bitcoin cheap?
There are cheaper alternatives in the crypto exchange market than BC Bitcoin, but not all of them can boast such a good reputation.
Summary
This detailed bitcoin.co.uk review has confirmed that the brokerage service has lots of benefits to crypto enthusiasts and people who only plan to invest in digital currency. It impresses with a wide range of assets supported, many different services, the flexibility of solutions, and care about clients. However, there are still things that do not allow calling it a number-one brokerage company in the UK. Quite high fees and lots of restricted countries are two main points that make customers think twice before choosing this exchange.
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