FAQ

BCP Markets is an app allowing users to easily buy Bitcoin and other cryptocurrencies directly from their phone by linking a UK bank account (standard bank transfers are also possible).

After your account is created, and the cooling of period has passed, you can use any of our two deposit methods: In-App purchase  “Open banking” you can purchase crypto instantly within the BCP Markets app by clicking on the crypto you’d like to buy and then select any participating bank. You will then be redirected to your banking app to confirm the transaction.  Bank transfer  – you can simply go to your bank account, then find our bank details and Ref ID in ‘Settings’ of the BCP Markets app “Ref for bank transfer” to send money and directly buy the amount of crypto you’d like (within the authorised limits). You can deposit: Bitcoin, Ethereum, USDT, USDC and tGBP in your in-App wallets!

Bank  – You can sell Bitcoin from your in-App wallets any crypto or from any other external Bitcoin wallet address and receive the funds into your bank account (you can add your bank account in ‘Settings’).  Transfer    – You can transfer any Crypto from your in-App wallet to an existing wallet or to another BCP Markets user!

Your BCP Markets account will be subject to limits, if you need to increase your limits please contact us directly. Monthly Account Deposit Limit – £20,000 (or customisable based on Source of Funds documents) Daily Account Deposit Limit – £10,000. You can also do recurring purchases: weekly, monthly, …

(a) If you hold bitcoin (on any other cryptocurrencies) on your in-App wallet: Within your app go to your ‘wallet tab’, select SELL/SWAP Type an amount in Pound, click on SELL After reviewing the transaction terms, click AGREED. You will receive the money on your bank account within 24 hours (week days only, excluding bank holidays).   (b) If you don’t hold crypto on your in-App wallet: Within your app go to your wallet tab, click on Deposit: you can deposit Bitcoin, Ethereum, USDT, USDC and TGBP. Then after 3 confirmations in the Blockchain, you will be able to SELL the crypto received.

*You cannot use your driving licence as Proof of Identity AND Proof of Address. ** Documents have to be dated in the past 3 months Ultimate – Deposit above £20,000  Source of Funds and Proof of Funds will be required. The support can block the account and ask for documents at anytime. Important: Source of Funds could also be required from any amount.

Yes, once you have created your account you can transfer funds from your in-App wallet or directly fund your blockchain wallet by scanning the wallet QR code.  You can also receive Bitcoin by clicking on “DEPOSIT” on the wallet tab of your app.

By default, when you deposit you will top up your in-App which will be linked to your email address. Through your Bitcoin in-App wallet you can receive and send bitcoin through the Layer 1 and Layer 2 the “Lightning Network”. The Bitcoin tab allows you to do have all the features related to Bitcoin within this one tab: BUY, SELL, SEND, RECEIVE Bitcoin!  You can receive either on-chain or through Lightning Network as mentioned above.

No, all account require a selfie and photo ID to be created.

Only one

No, only you are allowed to make transactions from your account – even if you have given consent to someone else.

You can sell your bitcoin, Ethereum, USDC, USDT and TGBP to us by deposit it, sell it and then transfer the funds to your bank account. You can also transfer your bitcoin and other crypto to another BCP Markets user for free (no network fees!).

BCP Markets has developed a proprietary in-App wallet solution that allows customers to create sub-accounts of a segregated blockchain account, on a Cold Storage. This allows us to not charge any fees for Peer-to-Peer transfers, however, transfers to standard Bitcoin Blockchains will incur network fees.

If you want to transfer funds to another BCP Markets user, go to the wallet tab choose the crypto wallet where you hold cryptocurrencies and select SEND. You will then add a wallet that you can scan (QR code) or copy past with the blockchain address (or Email address of the BCP Markets user) you’re transferring the coins to. For Bitcoin, you can use the Bitcoin tab and quickly scan any wallet by clicking on SEND. Once done you will be redirected back to the wallet tab and you will find the history of your transactions

You have the ability to transfer bitcoins to any email address linked to an existing BCP Markets in-App wallet. If the email address is not linked to an open account, an email invitation will be sent to the recipient, asking them to download the BCP Markets App to access the bitcoin.

All of our Bitcoin in-App Wallets are on a Cold Storage which means that their private keys are not on the internet. That said, poorly secured wallets are typically where the thefts of Bitcoin occur. If someone obtains access to the private key of your standard blockchain wallet(s), all the cryptoassets may be stolen. Like any hot storage solutions, in-App wallets present some risks. For example, if someone accesses your phone and your email account the person could potentially access your BCP Markets account and may be able to steal your bitcoin stored on the in-App wallet. For more security, we recommend you enable the pin code or biometric lock in the settings tab. Unfortunately if someone manages to access your in-App wallet to send bitcoin to a blockchain wallet, we won’t be able to revert the transaction.   If your BCP Markets in-App wallet exceeds £10,000, we recommend transferring your cryptoassets to a hardware wallet or cold storage solution (such as a Ledger device).

What does APY mean?   By selecting ‘Earn Interest’ in Settings, we will generate weekly interest for the bitcoin, Ethereum you hold on the in-App Wallet. APR is the annualised rate, example 0.1%  Once a week, you would receive [in-App Wallet balance]* 0.001 * 7 /360 extra bitcoins. These weekly will be paid every Monday after one full week  Therefore the annual percentage yield (APY) is the effective rate of return on an investment for one year taking into account the effect of compounding interest. So if the APR is 0.1%, the APY will be 0.1%. The interest on BTC or ETH are generated by lending the surplus of BCP’s treasury. Risks of a cold storage solution: Physical Damage or Loss. Technological Obsolescence. Human Error. Supply Chain Attacks. Limited Accessibility.

BCP Markets uses a proprietary index developed in-house. This index is an average of the main exchanges in GBP (CoinMarketCap, Google,…)

You must be a UK resident & over the age of 18 to use our services. We can suspend your account at anytime without motivating our decisions. Also, BCP Markets cannot be used to promote, assist or facilitate any form of unlawful activity. Any account found to be taking part in such activities will be reported to relevant authorities and closed. “I’m being asked buy something in Bitcoins and I don’t think it’s safe” Never ask Bitcoin for someone else: if you do not think someone is legitimate or you have a gut feeling that something may not be right, pause and take a second to read our handy article on how to protect yourself from scammers HERE. If you have been directed to use BCP Markets to “send money,” you should review the common scams below. BCP Markets is intended for purchasing bitcoin for yourself, anything else is against our terms of service and you should halt the transaction immediately. common scams list: Dating, Marriage, and Romance Online Dating Apps, and Websites Army / Military Scam Overseas, problems with your Amazon account, Out of Country Money Forwarding and Check Cashing Payment for Goods or Services, eBay, Airbnb, Tech Support, Scams Time-sensitive and Emergency Situations Airport and Travel Overseas Bill Payment IRS, Government, and Utility Bills Job, Payroll, and Housing Scams. Also, if you have been asked to send bitcoin in order to access any trading account to release any money, it is a scam.   If you’re unsure and you just want to talk things through, please contact us directly via email on info@bcp.markets    “I think I’ve been scammed! What shall I do?” If you have been a victim of a scam please contact as as quickly as possible