BeyondCC header

BeyondCC Review (2020)

BeyondCC
  • Ease of Use
  • Beginner Friendly
  • Payment Options
  • Speed
  • Fees
4.5

Summary

BeyondCC is UK-based company which has competitive bitcoin rates (<2% above the mid-market rate). Once you’re verified, you can buy bitcoin with a UK bank transfer quickly (<5 minutes) and easily.

BeyondCC has burst into the UK bitcoin marketplace and is offering excellent rates (about 1.5% above the mid-market rate) when you buy bitcoin with a UK bank transfer.

But who are they? How are they offering such competitive rates? And are they legit?

Read this quick review and find out.

Advantages & Disadvantages

Advantages

Disadvantages

Who are BeyondCC?

BeyondCC is a UK-based company which was established in March 2018, with registered offices in Reading. The registered directors are Danny Aston and Mark Butler.

They claim to be “Europe’s biggest brokerage specialising in cryptocurrencies”.

Their mission is to make buying and selling bitcoin as simple and effortless as possible.

According to their site:

  • People behind BeyondCC have traded cryptocurrency since 2015.
  • They’ve served over 250,000 customers.
  • Facilitated over £150 million worth of transactions.
  • Process over 600 trades a day.

At the time of writing, they have a 4* TrustPilot rating (160 reviews).

I reached out to BeyondCC to authenticate an existing account on Localbitcoins too. Danny was happy to oblige and verified ownership of this account.

(Click to expand)

 

How does BeyondCC work?

When you buy or sell bitcoin to BeyondCC, you’ll be buying or selling directly to BeyondCC.

BeyondCC are a group of brokers who work across all the major OTC sites in the UK (e.g. Localbitcoins, BitBargain, and Bittylicious). With BeyondCC, they’re essentially looking to cut out the middleman/platforms and deal directly with customers.

These platforms take a fee of about 1% from sellers. By cutting them out, BeyondCC is able to offer better bitcoin rates (i.e. closer to the actual exchange rate) than their competition (while maintaining their profit margin).

Payment Methods

BeyondCC only accepts UK bank transfers.

As most high street banks use the faster payments service (which sends bank transfers quickly), this means that you buy bitcoin – and have access to it – very quickly. Less than 5-10 minutes is normal.

How to Buy Bitcoin with BeyondCC

Registration is simple.

Although you’ll need to submit identity verification documents, they’ll usually confirm your identity quickly (i.e. less than an hour).

Once that faff is sorted, you can buy bitcoin with a UK bank transfer and have bitcoins in your wallet in less than 15 minutes.

Interested in the details? Expand the sections below.

(You can enlarge all images by clicking on them)

Register

Signing up is quick and easy.

Verification

Before you can use BeyondCC, you’ll need to verify your identity. This is done to:

  1. Prevent fraud.
  2. Comply with KYC (know-your-customer) regulations.

You’ll need to provide:

  • Selfie holding your driving license/passport and debit card (linked to the account you’re intending to use on BeyondCC).
  • Picture of ID and a note, confirming you’re not a money launderer.
  • Proof of address.

Once I’d submitted these, I was approved within an hour.

Buying Bitcoin

  • Select ‘Buy’ (located top right of website).

  • Input the amount (in £ or BTC) which you want to buy.
  • The BTC-to-GBP exchange rate (that they’re using) is clearly shown.
  • Happy? Click ‘Next’.

  • The next page confirms the details.
  • Still happy? Click ‘Confirm Transaction’.

  • The next page shows the payment details.
  • You’ll have 30 minutes to complete the payment.
  • Load up your online banking and input everything.
    • Include the payment reference. If this is wrong, you’ll face issues/delays.
  •  Paid? Click ‘Payment has been sent’.

  • You’ll be taken back to the dashboard.
  • Status will show as ‘Payment Marked as Paid’ while you wait for BeyondCC to confirm the payment.

  • You’ll receive an email once the payment is confirmed. The bitcoin(s) will now be in your BeyondCC wallet.
    • Mine took less than 5 minutes to confirm.

Withdrawing Bitcoin

  • Go to your dashboard and click ‘Withdraw Funds’.

  • Input how much you’d like to withdraw, your external wallet address, and your 2FA code.
  • Wallet withdrawals are free (unless fees go crazy again).
  • Happy? Click ‘Next’.

  • This page confirms the withdrawal details.
  • Happy? Confirm it!
  • Now just wait for this to be processed.
    • Mine took less than 5 minutes to process.

Fees

Screenshot from BittyBot (25/06/18)

BeyondCC has competitive bitcoin rates (<2%) in the UK.

Since being added to BittyBot (on 21st June 2018), they’ve been competitive with sellers on Localbitcoins, Solidi, and Bittylicious. Although their rates do fluctuate, they tend to be about 1.5% above the real BTC-to-GBP exchange rate. When I tested BeyondCC for the first time in 2018, their rates were about 0.88% above the real BTC-to-GBP exchange rate.

I thought this might just be an introductory rate, so I reached out to BeyondCC about it:

“Due to the volume we process daily these rates are sustainable and unless market conditions change we will keep them this low going forward.”

Conclusion

BeyondCC is one of the cheapest way to buy bitcoin with a bank transfer in the UK (approx. 1.5% markup). It’s run by reputable and well-known cryptocurrency brokers too.

Once you’ve verified your identity (which takes about 1 hour), you’ll be able to buy and sell bitcoin with UK bank transfers in under 10 minutes. You can’t really beat how quick and easy this is.

They have comparable rates to places like Bittylicious and Solidi, but BeyondCC is not the absolute cheapest ways of buying bitcoin in the UK. Check out this post to learn about about your cheapest way of buying bitcoin in the UK.

BeyondCC also don’t support debit or credit card purchases. If you’re looking to buy bitcoin with a debit or credit card, then you head straight over to my Wirex review.

Try BeyondCC Now

Other Notes

How did you verify their Localbitcoins account?

Nothing complicated. This was the process:

  • Opened a trade on Localbitcoins with this account.
  • Emailed BeyondCC letting them I’d opened a trade (and my username).
  • Waited for a reply on Localbitcoins from them.
  • They copied my most recent email into Localbitcoins chat.

Want proof? Get in touch.

How do I calculate the % markup?

  • Go to Coindesk’s price calculator. Click ‘USD’ and change that to the GBP/EUR. Copy that value (1).
  • On BeyondCC (or elsewhere), copy the quoted price (2).
  • Plug numbers (1) and (2) into something like this. It’ll tell you the % difference.
    • Alternatively:
      • Divide (1) by (2). This usually gives you a result <1.
      • 1 – ANS
      • ANS x100 = % difference between (1) and (2)
        • Positive = (1) < (2)
        • Negative = (1) > (2)
    • Alternatively: Use BittyBot. It does all the price comparisons for you.

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