FAQs

Cryptocurrencies are a form of money that only exists in digital form and is managed using a decentralised network of computers and advanced mathematical encryption techniques. They are also known as digital, alternative and virtual currencies. The idea first appeared in 2008 in an academic paper, written by an unknown person or group under the pseudonym Satoshi Nakomoto and entitled 'Bitcoin: a peer-to-peer electronic cash system'.

It proposed an anonymous, untraceable, decentralised and very secure way of moving money around the world without banks or other intermediaries. The first Bitcoin transaction took place in 2010 and the currency took off rapidly. In early 2018 there were almost 17 million bitcoins in circulation. Other cryptocurrencies, alternatives to Bitcoin, soon began to appear. At least 39 have market capitalisation of over $1 billion. Etherium and Ripple are Bitcoin's nearest competitors.

The key to how cryptocurrencies work is blockchain technology: a peer-to-peer online network that acts as a public ledger of every transaction, divided into groups called blocks. Each block is encrypted with a different randomly generated 64-digit code.

The remarkable security of the blockchain is the result of one amazing fact: the entire record of every transaction ever made is kept on every computer in the network - in the same encrypted form, which cannot be altered. There are hundreds of thousands of computers in the network, each only accessible by its owner. Changing the record on enough computers to make a difference is a practical impossibility.

Currently, it is free to Buy, Sell, Deposit and Withdraw BTC and GBP. We do not charge any hidden fee's on top.

Make sure that the time on your phone and PC are synchronised. Make sure you enter the code before it changes, your 2FA code will change every 30 seconds. If your code is still not working please remove the code from your phone and add again from your backup. if you do not have a copy of your backup code please refer to the FAQ titled 'reset my 2FA'

Please send an email to [email protected] from the email address you used to create your BeyondCC account. please attach a picture of your ID next to a hand written note saying 'removing 2FA from my BeyondCC account' please make sure you sign and date the note. you will then receive a reply from support with the next steps of the process.

When you open a trade with BeyondCC you will be shown the Total BTC amount plus it's value in £.

Below this information you will be shown our UK Sort Code and Account number plus a reference that must be used when sending in payments.

You will then need to log in to your online banking and send the exact amount shown on the trade page along with the exact reference. Once you have done this, you need to click on "Payment has been sent".

Once you have sent the funds for your order and our automated system has detected the credit into our bank we will complete the trade.

The BTC will then be applied to our BeyondCC Wallet - you can either choose to store the funds in this wallet or sent on to an external wallet you own.

We will credit your BTC as soon as the payment is shown in our bank.

All major UK banks are members of the Faster Payment network. This means the majority of payments are shown in our account instantly. If the payment is not sent instantly it could be that your bank are performing extra checks. If this is the case most are released within 2 hours, but it can take in some extreme cases 48 hours.

You can use any UK bank account except for ones listed below:

CardOne
Eccount
Loot
One account
Pocket
Suits Me
thinkmoney

If your bank are slow to send a payment to us your trade will stay active even if it takes more than 30 minutes.

If your payment is delayed by more than 30 minutes BeyondCC will always try to honor the original rate, but if market conditions do not allow this you would need to accept an updated rate or a full refund.

All deposits are credited to your account after they have 3 confirmations on the blockchain. You can view the progress of any deposit via www.blockchain.info.

All payments are processed within 30 minutes during the hours of 6AM and 11PM - all payments are sent via Faster Payments and should show in your account within a few hours, in some cases it may take 24 hours for funds to show, this is out of our control as it is the banks who delay payments.

You can use any UK bank account when requesting a sell. Please note we are NOT able to process deposits into accounts not held in your name.