Frequently Asked Questions
Opening an account is simple. Click on the button below and fill in your information.
1. Sign up for a User Account if you have not already.
2. Navigate to "Accounts" in the panel on the left.
3. Open a Transactional Account for the specific cryptocurrency you want to buy. An account for your local currency will be opened automatically.
4. Navigate to "Funding" on the panel on the left. You will need to send funds to your local currency account.
5. If you're in the Europe or the United Kingdom, send funds via bank transfer to the details under the "SEPA" section using the reference supplied.
6. If you're in any other territory, use the details under the "SWIFT" section.
Note: on average, funds take 3 days to clear but may take longer. If it's been longer than 7 days, contact support.
7. Once your funds have been allocated to your fiat account, navigate to "Buy Cryptocurrencies" on the panel on the left.
8. Choose the cryptocurrency from the drop down and enter the amount of local currency you want to spend.
9. Click on "Buy Now".
Your cryptocurrency account will be credited with the amount purchased as soon as the transaction is confirmed on the Blockchain.
This process can take a couple of hours depending on the network and cryptocurrency purchased. In rare cases, it can take longer. If the volume you are trying to purchase is large, we may need some time to fulfil the order; in these instances, you will be notified and prompted to reconfirm the purchase at the current price, if the price has changed.
Right now, you can buy Bitcoin and BVK Token. We are busy working on integrating ZCash, Ethereum, DASH and Litecoin as the next cryptocurrencies.
BVK Token is our very own utility token.
Find out more here..
1. Send Bitcoin, Zcash or Ethereum to the following addresses:
2. Log in to BVNK and navigate to "Buy BVK Token" in the panel on the left.
3. Choose the cryptocurrency you used to purchase BVK Token. There is a drop down next to "I'll pay with".
4. Enter the amount of cryptocurrency you sent.
5. Enter the Traction ID for the transaction in the "Transaction ID" field. This is used to verify the transaction before we allocate BVK Token to you.
6. Click on "Buy BVK" to confirm.
Currently, we only support fiat currencies for purchasing cryptocurrencies. We are busy with licence acquisition in multiple territories and hope to have the United Kingdom supporting fiat in 2018.
Withdrawing cryptocurrency is simple and functions like a payment.
1. Navigate to the "Accounts" in the panel on the left.
2. Click on the account that you want to send from. , select “Once-off” and enter in the external wallet address.
Be careful and double check: the wallet address needs be correct and to support the right cryptocurrency otherwise you could lose your assets.
'KYC' stands for "Know Your Customer" and is part of our continued commitment to ensure that we aren’t supporting criminal activity of any kind. Until you have submitted proof of your identification and residential address, we will have to limit purchase and transaction amounts as well as other services if applicable. In addition, verification will enable you to access your private keys for your wallets.
Yes. Unlike many exchanges that centralise all cryptocurrency assets in a holding wallet and virtually partition, we provide individual cryptocurrency wallets, complete with access to private keys (for verified users). This means that you actually own your cryptocurrency (that’s right, you don’t otherwise) and can regenerate wallets independently of BVNK.
Yes, all private keys are encrypted and stored securely. They are only ever used with actions that result in your account balance being changed. Only your credentials will be able to enable these kinds of actions.
Our transaction fees are calculated in relation to the network fees for that given cryptocurrency and are 100% of that fee. We provide individual wallets, a variety of services and functionality, and our fees don’t change regardless of how much volume you move. We will also batch transactions wherever possible to reduce fee overhead and pass these savings on to you.
Developers that want to build their own cryptocurrency platforms can do so free of charge. We only charge transaction fees until the user base a platform that uses BVNK exceeds 10,000 users. This gives enough space to build a sustainable business before incurring technology costs.
We have written a brief tutorial to help developers get started.
How to build a simple cryptocurrency platfrom
BVNK is a turnkey enabling technology for the purchase, storage and general utility of cryptocurrencies. We support businesses and consumers, and are building the future of finance.
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