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BVC Review Review - is it scam or safe?

BVC - is buyvirtualcurrency.co.uk scam or good cryptocurrency exchange?

RATING: 2.2 / 1 REVIEWS ForexBrokerz BVC Review

RECOMMENDED BITCOIN BROKERS


Trading accounts and conditions

 

Account type Leverage Fees
Standard 1:1 N/A

 

 

 

Buy Virtual Currency (BVC) is a UK cryptocurrency broker with a focus on a customer-first flawless experience.

 

It has a wide selection of cryptocurrencies for sale, that includes Bitcoin, Ether, Ripple, Litecoin, Monero, Dash, Ether Classic, Steem, Nem, Digixdao, Maidsafecoin, Factom, Lisk and Dogecoin. They can be bought for GBP.

 

BVC advantages

 

- Many Coins. BVC has a good selection of cryptocurrencies on offer, that covers both the major and some of the lesser altcoins.

 

- Service. BVC claims it puts customers first and offers a 24/7 customer support, which can be convenient. Yet, the bank transfer still takes 1-2 business days to be processed. After the payment has arrived, the cryptocurrencies arrive at the customer’s wallet in 20 minutes, as per the BVC site. The clients can also book an appointment at the company offices in London, which is a rare option among the cryptocurrency exchanges.

 

- Buy back at spot prices. Even though BVC is specialized in selling cryptocurrencies to the general public, it is also willing to buy it. According to a post on the broker’s site, it can buy cryptocurrencies back from sellers, at spot prices. Those interested should contact the company.

 

- Platform. Because BVC acts as a broker, it does not provide a proper trading platform. Instead, there is a simple form, where one must fill in the required information. For the purpose, this is more than enough.

 

 

BVC disadvantages

 

- Anonymity. BVC does not offer an anonymous service. Its clients need to identify themselves with their name, address (and a proof of address) and a copy of an ID document.

 

- Payments. BVC only accepts bank transfers as a payment method. This makes the buy process quite slow, as usually the bank transfers take 1-2 business days to be processed and arrive. On the other hand, the buyer cannot make a deposit in advance, because the sum to be paid is determined at placing the order.

 

 

>> See crypto exchanges accepting credit cards <<

 

- Speed. The payments procedure delays the buy process and could possibly lead to losses for the buyer.

 

- Unclear Fees. The trading (service) fees are included by BVC in the price of the coins. On one hand this is handy, but on the other, it is hard to determine how favorable the price actually is.

We could not find information about the deposit fees, either.

 

- No Regulation. Neither Investoo Ltd., the owner of BVC (nor BVC itself), are registered with UK’s Financial Conduct Authority (FCA), even though we are of the impression that all financial services companies in the UK should be. On the other hand, Investoo is registered in UK’s Companies’ House as an advertising agencies and is in fact a portal providing comparison services and information about forex brokers, binary options brokers and other brands across the Forex, Cryptocurrency and Retail Investment industry.

 

- No Leverage. Due to the nature of its service, BVC does not offer leveraged trading on cryptocurrencies. Those who wish to engage in price speculation, should rather sign up with a regulated forex broker that offers trading in CFDs with cryptocurrencies as an underlying asset.

 

 >> See our list of regulated bitcoin forex brokers <<

 

Conclusion

 

BVC seems to be a reliable and serious company, which has nothing to hide and is not shrouded in mystery. We like the fact that it provides round the clock support, which cannot be said of all crypto exchanges. We also like the selection of coins on offer and the good customer support.

 

We don’t enjoy the fact that there is no direct sell option, but one has to explicitly contact BVC, yet the option exists. Besides, there are numerous other platform where one can sell their coins.

 

Like many of the more recently reviewed exchanges and brokers, BVC is more convenient for the occasional buyer (or seller), rather than for the more dedicated and experienced trader.

 

 

 

 

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Traders` reviews for BVC Review

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