Bittylicious - User contributions [en-gb]

What is a VASP

2024-10-27T17:44:53Z

Nicguana: Created page with "A Virtual Activity Service Provider ("VASP") is a business which: * issues; * transmits; * transfers; * provides safe custody or storage of; * administers; * manages; * lends; * buys; * sells; * exchanges, or otherwise trades; or * intermediates convertible virtual currencies, including crypto-currencies, virtual assets or similar concepts, where the concept is accepted by persons as: * a means of payment of goods or services; * a unit of account; or * a store of va..."

A Virtual Activity Service Provider ("VASP") is a business which:

* issues;
* transmits;
* transfers;
* provides safe custody or storage of;
* administers;
* manages;
* lends;
* buys;
* sells;
* exchanges, or otherwise trades; or
* intermediates

convertible virtual currencies, including crypto-currencies, virtual assets or similar concepts, where the concept is accepted by persons as:

* a means of payment of goods or services;
* a unit of account; or
* a store of value or a commodity.

Please note that a VASP is sometimes also referred to as Convertible Virtual Currency ("CVC") business. The definition above applies both to VASPs and CVC businesses equally.

Why does the price keep changing?

2024-09-26T11:53:36Z

Nicguana:

==In a nutshell==

You have seen an error message like this:

[[File:PriceChanged.png]]

The chances are that you are trying to buy a small amount of coins and these cost more. If you buy in the range shown, you will get the best price.

The price you see is the cheapest price that Bittylicious is willing to offer for your requirements.

==Initial price shown==

The price shown initially on the Bittylicious price is the cheapest price available, but it assumes you are buying or selling the amount shown. Bittylicious has no way of predicting how many coins you want until you click the ''Get some coins'' button. At this point, a calculation is done and if the price is different from what you saw, you will be presented with the pink error message.

If indeed you bought in the range shown on the screen, you will get the original quoted price.

Please also take a read at our page [[Why do Bitcoins on Bittylicious cost so much?]] to find out a bit more about why costs are what they are.

Why does the price change depending on whether I am logged in or not?

2024-09-26T11:51:22Z

Nicguana:

Bittylicious offers coins at a set price, with minimum and maximum amounts of coins Bittylicious is willing to trade.

However, in some instances, you may be able to buy more coins when you are logged in, as opposed to when you are logged out. This is because the price is based on the maximum number of coins you are permitted to buy.

For example, if you were allowed to buy 5 Bitcoins when logged in and only 1 Bitcoin when logged out, there could be a seller offering a minimum of 2 Bitcoins for a cheaper price than a seller offering any amount of Bitcoins. This would mean that the price is cheaper when you are logged in. The converse would be true of the seller offered a cheap price for a maximum of 2 Bitcoins.

If you, for example, attempted to buy 2 Bitcoins, the price is exactly the same whether you are logged in or logged out. To prove this, type in a figure of ''2'' in the ''Number of Bitcoins'' field and click the green refresh button right next to ''Get some coins''. You will see the price is the same in both situations.

Why does the price change depending on whether I am logged in or not?

2024-09-26T11:50:54Z

Nicguana:

Bittylicious offers coins at a set price, with minimum and maximum amounts of coins Bittylicious is willing to trade.

However, in some instances, you may be able to buy more coins when you are logged in, however, as the price is based on the maximum number of coins you are permitted to buy.

For example, if you were allowed to buy 5 Bitcoins when logged in and only 1 Bitcoin when logged out, there could be a seller offering a minimum of 2 Bitcoins for a cheaper price than a seller offering any amount of Bitcoins. This would mean that the price is cheaper when you are logged in. The converse would be true of the seller offered a cheap price for a maximum of 2 Bitcoins.

If you, for example, attempted to buy 2 Bitcoins, the price is exactly the same whether you are logged in or logged out. To prove this, type in a figure of ''2'' in the ''Number of Bitcoins'' field and click the green refresh button right next to ''Get some coins''. You will see the price is the same in both situations.

Why do Bitcoins on Bittylicious cost so much?

2024-09-26T11:45:24Z

Nicguana:

The price of Bitcoin on Bittylicious can be more than some of the large exchanges out there. To do a fair comparison you would need to compare it with other GBP sites.

There are many costs associated with offering Bitcoins and other virtual currencies to you, the user, on Bittylicious. Compared to the bigger exchanges, the benefits of Bittylicious over a large market include:

# Bittylicious is Isle of Man-based and follows Isle of Man law.
# Bittylicious is priced primarily in British pounds.
# You would need to pay foreign exchange costs to put GBP onto a market (e.g. converting to US Dollars).
# On many markets, there are huge restrictions on withdrawing fiat and large Bitcoin amounts.
# You often need to pay fees to put money onto the exchanges in the first place.

And other costs that we face include:

# There is fraud in the banking world, meaning brokers sometimes lose money altogether.
# Most banks hate cryptocurrencies, meaning there's the risk of losing bank accounts.
# Banks often charge fees for transactions, especially on business bank accounts.

Those costs, including time costs, all add up. We believe Bittylicious offers one of the simpler ways for people to buy Bitcoins and sometimes this can come at a little extra cost.

===Transaction fees===

As well as the costs listed above, the Bitcoin network has a concept of ''transaction fees'', which originally was designed to be a small fee for transactions to be sent and included in a Bitcoin block. Bittylicious uses the recommended fee set by the Bitcoin core client to get a transaction confirmed quickly, although if there are unexpected spikes in network activity or a lack of blocks it can take a little longer. Generally these fees are not particularly high, however at times of extreme load on the network, these have however been exceptionally high (~£25) and would always need to be included within the price.

Estimates of the current network fees are available can be viewed at [https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#3m BitInfoCharts].

Why am I am not able to trade small amounts?

2024-09-26T11:44:31Z

Nicguana:

Bittylicious does not offer lower amounts. Usually this is due to the overheads involved in making bank transfers for small payments.

Will my card issuer charge a fee when paying by credit or debit card?

2024-09-26T11:42:10Z

Nicguana:

In some rare cases, some issuing banks charge additional fees from customers who purchase bitcoin using a credit card. This is because some banks might see purchasing bitcoin as a "money order", a service that incurs additional fees when made with a credit card.

If you would like to know if a cash advance fee will apply to your purchase, you should contact your issuing bank directly beforehand; you can provide them with the code that describes our service: Merchant Category Code (MCC): 6051

HSBC delays

2024-09-26T11:40:49Z

Nicguana:

=HSBC & First Direct Payment Delays=

Previously, customers who bank with HSBC & First direct have reported receiving poor-quality service to us. Below are two very frequent occurrences which will almost certainly be the reason for any delay in your payment reaching one of our brokers.

Please see below for further information on our customers' experiences. As such, the information below may not be current, but we hope that you find it helpful.

==Making payments after 6pm==

If you make a payment to a non-HSBC account or to a new payee, the online banking will tell you that the payment cannot be made today. If you phoned their customer service department about it they tell you it is because the receiving bank will not accept the payment until the following morning. This information is false as all other banks have no problem sending to each other through the evening.

These payments will be debited from your account around 8am and, subject to fraud checks, arrive at their destination just after 9am.

==Delayed payments==

HSBC and First Direct are very well known for their payment delays and they tend to process payments on the hour.

If you try and call them within 2 hours of making the payment, their customer services department will tell you that faster payments can take up to 2 hours to go through.

If you call up after the two hours has passed, they will tell you that the payment has been processed even if you specifically ask them whether it has been held for fraud and security checks (which happens frequently). They even go so far as to say that the receiving bank must be doing payment checks before releasing the payment to the destination account. If this happens then we would see that the payment had arrived and had been held for checks.

Unfortunately, the reality here is that their staff are poorly trained and the payment will be with their fraud and security team for checks. You can either wait out the delay or you could speak to their fraud and security department directly on 0345 266 9337. Once they have confirmed that it has indeed been held by them, they will process it and state that it will take up to two hours to credit the account. The reality is that it will be between 1-2 hours from when they've told you this. HSBC/First direct tend to only process their payments on/shortly after the hour too.

If this happens to you and they lie to you as above, you have every right to put in a [https://www.hsbc.co.uk/1/2/contact-and-support/feedback-and-complaints complaint] to them (and the [http://www.financial-ombudsman.org.uk/consumer/complaints.htm Financial Ombudsman]) as its unacceptable behaviour by an established bank like them.

==Summary==

We try our best to help and guide you through the inefficiencies of the banking system but, as above has shown above, solving this is often out of our hands. We look forward to a time when such banking frustrations are a thing of the past.

Bank contact numbers

2024-09-26T11:35:04Z

Nicguana:

Below are contact numbers we have been provided with in the past for the fraud teams in various banks. Fraud teams generally know more about what is happening with payments than the front desk staff.

==United Kingdom==

* Halifax - 0345 602 2160
* HSBC - 0345 266 9337
* Lloyds - Fraud team: 0800 917 7017, +44 2074 812 614
* Natwest - 0800 161 5165
* Santander - 0800 151 3151
* TSB - 0800 096 8669
* Nationwide - 0800 055 6622 option 2 (security team)

Note that banking information and contact details are subject to change without notice, and may not be up-to-date.

Card payments

2024-09-26T11:33:42Z

Nicguana:

At present, we can only accept card payments from users in a restricted number of countries.

These are determined by a combination of payment provider rules, local laws and regulations, and are subject to change at short notice.

For example, countries which we have not been able to accept payments from in the past include:

{| class="wikitable"
! Country code || Country name
|-
| AD || Andorra
|-
| AE || United Arab Emirates
|-
| AG || Antigua and Barbuda
|-
| AI || Anguilla
|-
| AL || Albania
|-
| AM || Armenia
|-
| AN || Netherlands Antilles
|-
| AO || Angola
|-
| AQ || Antarctica
|-
| AR || Argentina
|-
| AS || American Somoa
|-
| AT || Austria
|-
| AU || Australia
|-
| AW || Aruba
|-
| AZ || Azerbaijan
|-
| BA || Bosnia and Herzegovina
|-
| BB || Barbados
|-
| BE || Belgium
|-
| BF || Burkina Faso
|-
| BG || Bulgaria
|-
| BH || Bahrain
|-
| BI || Burundi
|-
| BJ || Benin
|-
| BM || Bermuda
|-
| BN || Brunei Darussalam
|-
| BR || Brazil
|-
| BS || Bahamas
|-
| BT || Bhutan
|-
| BV || Bouvet Island
|-
| BW || Botswana
|-
| BZ || Belize
|-
| CA || Canada
|-
| CC || Cocos (Keeling) Islands
|-
| CF || Central African Republic
|-
| CG || Congo
|-
| CH || Switzerland
|-
| CI || Ivory Coast
|-
| CK || Cook Islands
|-
| CL || Chile
|-
| CM || Cameroon
|-
| CR || Costa Rica
|-
| CU || Cuba
|-
| CV || Cape Verde
|-
| CX || Christmas Island
|-
| CY || Cyprus
|-
| CZ || Czech Republic
|-
| DE || Germany
|-
| DJ || Djibouti
|-
| DK || Denmark
|-
| DM || Dominica
|-
| EE || Estonia
|-
| EH || Western Sahara
|-
| ER || Eritrea
|-
| ES || Spain
|-
| ET || Ethiopia
|-
| EU || European Union
|-
| FI || Finland
|-
| FJ || Fiji
|-
| FK || Falkland Islands
|-
| FM || Micronesia
|-
| FO || Faroe Islands
|-
| FQ || French Southern and Antarctic Lands
|-
| FR || France
|-
| GA || Gabon
|-
| GB || United Kingdom
|-
| GD || Grenada
|-
| GF || French Guiana
|-
| GG || Guernsey
|-
| GI || Gibraltar
|-
| GL || Greenland
|-
| GM || Gambia
|-
| GN || Guinea
|-
| GP || Guadaloupe
|-
| GQ || Equatorial Guinea
|-
| GR || Greece
|-
| GT || Guatemala
|-
| GU || Guam
|-
| GW || Guinea-Bissau
|-
| GY || Guyana
|-
| HK || Hong Kong
|-
| HM || Heard Island and McDonald Islands
|-
| HN || Honduras
|-
| HR || Croatia
|-
| HT || Haiti
|-
| HU || Hungary
|-
| IE || Ireland
|-
| IL || Israel
|-
| IM || Isle of Man
|-
| IO || British Indian Ocean Territory
|-
| IS || Iceland
|-
| IT || Italy
|-
| JE || Jersey
|-
| JM || Jamaica
|-
| JP || Japan
|-
| KE || Kenya
|-
| KG || Kyrgyzstan
|-
| KM || Comoros
|-
| KN || St. Christopher-Nevis-Anguilla
|-
| KP || North Korea
|-
| KR || South Korea
|-
| KY || Cayman Islands
|-
| LA || Laos
|-
| LC || St. Lucia
|-
| LI || Liechtenstein
|-
| LK || Sri Lanka
|-
| LR || Liberia
|-
| LT || Lithuania
|-
| LU || Luxembourg
|-
| LV || Latvia
|-
| LY || Libya
|-
| MC || Monaco
|-
| MD || Moldova
|-
| ME || Montenegro
|-
| MG || Madagascar
|-
| MH || Marshall Islands
|-
| ML || Mali
|-
| MM || Myanmar
|-
| MN || Mongolia
|-
| MQ || Martinique
|-
| MR || Mauritania
|-
| MS || Montserrat
|-
| MT || Malta
|-
| MU || Mauritius
|-
| MV || Maldives
|-
| MW || Malawi
|-
| MX || Mexico
|-
| MY || Malaysia
|-
| MZ || Mozambique
|-
| NC || New Caledonia
|-
| NE || Niger
|-
| NF || Norfolk Island
|-
| NG || Nigeria
|-
| NH || New Hebrides
|-
| NI || Nicaragua
|-
| NL || Netherlands
|-
| NO || Norway
|-
| NP || Nepal
|-
| NR || Nauru
|-
| NU || Niue
|-
| NZ || New Zealand
|-
| OM || Oman
|-
| PA || Panama
|-
| PE || Peru
|-
| PF || French Polynesia
|-
| PG || Papua New Guinea
|-
| PH || Philippines
|-
| PL || Poland
|-
| PM || St. Pierre and Miquelon
|-
| PN || Pitcairn
|-
| PR || Puerto Rico
|-
| PT || Portugal
|-
| PU || United state Miscellaneous Pacific Islands
|-
| PW || Palau
|-
| PY || Paraguay
|-
| RE || Reunion
|-
| RO || Romania
|-
| RS || Serbia
|-
| RS2 || Republika Srpska
|-
| RW || Rwanda
|-
| SB || Solomon Islands
|-
| SC || Seychelles
|-
| SD || Sudan
|-
| SE || Sweden
|-
| SG || Singapore
|-
| SH || St. Helena
|-
| SI || Slovenia
|-
| SJ || Svalbard and Jan Mayen
|-
| SK || Slovakia
|-
| SL || Sierra Leone
|-
| SM || San Marino
|-
| SN || Senegal
|-
| SO || Somalia
|-
| SR || Surinam
|-
| ST || Sao Tome and Principe
|-
| SY || Syria
|-
| SZ || Swaziland
|-
| TC || Turks and Caicos Islands
|-
| TD || Chad
|-
| TG || Togo
|-
| TJ || Tajikistan
|-
| TK || Tokelau Islands
|-
| TM || Turkmenistan
|-
| TN || Tunisia
|-
| TO || Tonga
|-
| TP || East Timor
|-
| TR || Turkey
|-
| TV || Tuvalu
|-
| TZ || Tanzania
|-
| UA || Ukraine
|-
| UG || Uganda
|-
| US || United States of America
|-
| UY || Uruguay
|-
| UZ || Uzbekistan
|-
| VA || Vatican City
|-
| VC || St. Vincent
|-
| VE || Venezuela
|-
| VI || Virgin Islands (U.S.)
|-
| VU || Vanuatu
|-
| WF || Wallis and Futana
|-
| WS || Samoa
|-
| XK || Kosovo
|-
| YE || Yemen
|-
| YT || Mayotte
|-
| YU || Yugoslavia
|-
| ZA || South Africa
|-
| ZM || Zambia
|-
| ZR || Zaire
|-
| ZW || Zimbabwe
|}

Note that this list is not definitive or current.

What banks can I not use with Bittylicious?

2024-09-26T11:30:06Z

Nicguana:

Any real bank is fine, and any bank that correctly sends the account name and the reference across is also fine. Some banks do not do this, and these must not be used with Bittylicious.

From time to time, we have been alerted that the banks/payment services listed below cannot be used to buy from Bittylicious:

==United Kingdom==

* Airwallex (does not send payer data)
* APS Financial (their implementation of Faster Payments takes too long - typically 3-4 hours)
* Arrow Money (does not send payer data)
* Bank of Ireland (payments take around 35 hours and no payer information is sent)
* Cahoot (seems to send slow payments via Bank Giro Credit)
* CardOne (does not send payer data)
* Cater Allen (payments take 24-48 hours to arrive)
* Cumberland Building Society (unreliable payer information for Paym; this can be used for bank transfers, but not PAYM)
* Dozens (Unreliable payer information and recipient name on transfers)
* Eccount (because they use BACS, not Faster Payments)
* [https://www.ffrees.co.uk/ Ffrees] (payments take 1+ days to send and does not send payer data)
* [https://www.fidorbank.uk/ Fidor Bank UK] (payments can take [https://community.fidorbank.uk/news/hmmm-fidor-boast-you-can-set-u up to two hours to arrive] and only during UK working hours)
* Intelligent Finance (takes a long time to arrive)
* Loot (does not send payer data)
* My CashPlus
* [http://www.nandp.co.uk/current-account/ Norwich and Peterborough Building Society] (unreliable payer information)
* [http://www.oneaccount.com/onev3/service/home/service-landing.html One account] (does not send payer data)
* Payoneer (for selling cryptocurrencies as they only accept incoming payments from company accounts)
* Pocket, Pocket (Wireless Card Solutions Ltd; does not send payer data)
* PockitCard (Slow payments, doesn't send payer data)
* Santander Online Savings accounts (Current accounts are fine, but online only accounts with names like X13000000 do not supply payer information)
* Saurus (recipient name seems to be duplicated, slow payments)
* Secure Trust (payments take 1+ days to send)
* Skipton Bulding society investment account (unreliable payer information)
* Standard bank international (slow payments, does not send payer data)
* Suits Me (Doesn't send payer data)
* thinkmoney (slow payments)
* Tide (Unreliable payer data & slow payments)
* [https://www.uaccount.uk/ U Account] (does not send payer data)
* United Bank UK (does not send payer data)
* Wise/Transferwise (UK based may be OK, but do not use overseas accounts even in GBP because payer data is not sent)
* Yorkshire Building Society (payments take 24 hours to arrive)
* Ziglu (slow payments)

You also must not use any intermediaries that convert between currencies, e.g. Transferwise. This is because we lose any information about the payer.

==Republic of Ireland==

* Bank of Ireland (payments take around 35 hours and no payer information is sent)

==Poland==

* Bank Spółdzielczy w Piasecznie (does not send payer data)

Note that we do not verify the accuracy of the above, as banking procedures can change without notice.

What are the limits when purchasing Bitcoins?

2024-09-26T11:29:22Z

Nicguana:

==Verification based limits==

Bittylicious is designed such that unregistered users can only buy around £50 worth of Bitcoins. As you go through the verification processes, you are able to buy more Bitcoins. The amounts by which your Bitcoins go up regularly changes, but they increase as you:

# Register and verify your email address
# Verify your mobile phone number
# Upload your name and address identification (large increase here)

In certain situations, the amount you can buy might be less than the minimum permitted purchase. If this is the case, you will need to consider doing the above verification steps.

==IP based limits==

You should connect from a computer based in the country you are buying Bitcoins from. For example, if you are trying to buy Bitcoins using a UK bank account, please connect from the UK. If you are abroad or otherwise need an exception, please verify your ID and then contact us at [mailto:support@bittylicious.com support@bittylicious.com].

If your IP address and country you're purchasing from don't match, your limits will be reduced. If you attempt to buy from an anonymous proxy, your purchase attempt will be declined.

Your limits will also be significantly lower if you are using a mobile data connection.

==Account age limit==

Long term users are generally trusted more, so your overall purchasing limits increase with account age. As the age of your account increases since your first significant purchase, so will your limits.

==Ongoing limits==

Ongoing limits apply, and are subject to change at short notice. For example in some situations, once twelve hours have passed since your last purchase, half of that amount might be purchased again. Once 48 hours have passed, the entire amount might be purchased again. In this case, if your limit was 1 BTC and you bought 1 BTC at midnight, at noon you would be able to buy another 0.5 BTC, or after 48 hours you would be able to buy a further 1 BTC.

Why does the price change depending on whether I am logged in or not?

2024-09-26T11:25:22Z

Nicguana:

Why does the price change depending on whether I am logged in or not?

2024-09-26T11:23:58Z

Nicguana:

If you, for example, attempted to buy 2 Bitcoins, the price is exactly the same whether you are logged in or logged out. To prove this, type in a figure of ''2'' in the ''Number of Bitcoins'' field and click the green refresh button right next to ''Get some coins''. You will see the price is the same in both situations.

The reason it might have looked different to begin with is because you are allowed to buy more coins when you are logged in. Bittylicious, by default, works out the price for you based on the maximum number of coins you are permitted to buy. For example, if you were allowed to buy 5 Bitcoins when logged in and only 1 Bitcoin when logged out, there could be a seller offering a minimum of 2 Bitcoins for a cheaper price than a seller offering any amount of Bitcoins. This would mean that the price is cheaper when you are logged in. The converse would be true of the seller offered a cheap price for a maximum of 2 Bitcoins.

Bank contact numbers

2024-09-26T11:12:23Z

Nicguana:

These are the contact numbers for the fraud teams in various banks. These teams generally know more about what is happening with payments than the front desk staff.

==United Kingdom==

* Halifax - 0345 602 2160
* HSBC - 0345 266 9337
* Lloyds - Fraud team: 0800 917 7017, +44 2074 812 614
* Natwest - 0800 161 5165
* Santander - 0800 151 3151
* TSB - 0800 096 8669
* Nationwide - 0800 055 6622 option 2 (security team)

Note that the information above is subject to change without notice, and is only correct at time of writing.

What banks can I not use with Bittylicious?

2024-09-26T11:09:49Z

Nicguana:

Any real bank is fine, and any bank that correctly sends the account name and the reference across is also fine. Some banks do not do this, and these must not be used with Bittylicious.

At time of writing, the banks/payment services listed below cannot be used to buy from Bittylicious:

==United Kingdom==

* Airwallex (does not send payer data)
* APS Financial (their implementation of Faster Payments takes too long - typically 3-4 hours)
* Arrow Money (does not send payer data)
* Bank of Ireland (payments take around 35 hours and no payer information is sent)
* Cahoot (seems to send slow payments via Bank Giro Credit)
* CardOne (does not send payer data)
* Cater Allen (payments take 24-48 hours to arrive)
* Cumberland Building Society (unreliable payer information for Paym; this can be used for bank transfers, but not PAYM)
* Dozens (Unreliable payer information and recipient name on transfers)
* Eccount (because they use BACS, not Faster Payments)
* [https://www.ffrees.co.uk/ Ffrees] (payments take 1+ days to send and does not send payer data)
* [https://www.fidorbank.uk/ Fidor Bank UK] (payments can take [https://community.fidorbank.uk/news/hmmm-fidor-boast-you-can-set-u up to two hours to arrive] and only during UK working hours)
* Intelligent Finance (takes a long time to arrive)
* Loot (does not send payer data)
* My CashPlus
* [http://www.nandp.co.uk/current-account/ Norwich and Peterborough Building Society] (unreliable payer information)
* [http://www.oneaccount.com/onev3/service/home/service-landing.html One account] (does not send payer data)
* Payoneer (for selling cryptocurrencies as they only accept incoming payments from company accounts)
* Pocket, Pocket (Wireless Card Solutions Ltd; does not send payer data)
* PockitCard (Slow payments, doesn't send payer data)
* Santander Online Savings accounts (Current accounts are fine, but online only accounts with names like X13000000 do not supply payer information)
* Saurus (recipient name seems to be duplicated, slow payments)
* Secure Trust (payments take 1+ days to send)
* Skipton Bulding society investment account (unreliable payer information)
* Standard bank international (slow payments, does not send payer data)
* Suits Me (Doesn't send payer data)
* thinkmoney (slow payments)
* Tide (Unreliable payer data & slow payments)
* [https://www.uaccount.uk/ U Account] (does not send payer data)
* United Bank UK (does not send payer data)
* Wise/Transferwise (UK based may be OK, but do not use overseas accounts even in GBP because payer data is not sent)
* Yorkshire Building Society (payments take 24 hours to arrive)
* Ziglu (slow payments)

You also must not use any intermediaries that convert between currencies, e.g. Transferwise. This is because we lose any information about the payer.

==Republic of Ireland==

* Bank of Ireland (payments take around 35 hours and no payer information is sent)

==Poland==

* Bank Spółdzielczy w Piasecznie (does not send payer data)

Note that we do not verify the accuracy of the above, as banking procedures can change without notice.

Can I deposit cash over the counter at a UK bank?

2024-09-26T11:07:09Z

Nicguana:

''No, you must not do this''. Cash deposits undermine Anti Money Laundering and Know Your Customer procedures. Only bank transfers using online banking are welcome.

If you do perform a cash deposit, Bittylicious and its sellers will hold your payment for 24 hours. This is because cash at a bank can be reversed if counterfeit notes are used.

What happens if a payment is delayed?

2024-09-26T10:59:11Z

Nicguana:

Sometimes banks delay payments. This can be a problem for customers on the site as Bitcoin and other virtual currency prices are so volatile.

Any transaction that takes over two hours to receive is assessed on a case-by-case basis.

Why do Bitcoins on Bittylicious cost so much?

2024-09-26T10:55:05Z

Nicguana:

Before asking this question, you should understand how Bittylicious works.

The price of Bitcoin on Bittylicious can be more than some of the large exchanges out there. To do a fair comparison you would need to compare it with other GBP sites.

There are many costs associated with offering Bitcoins and other virtual currencies to you, the user, on Bittylicious. Compared to the bigger exchanges, the benefits of Bittylicious over a large market include:

# Bittylicious is Isle of Man-based and follows Isle of Man law.
# Bittylicious is priced primarily in British pounds.
# You would need to pay foreign exchange costs to put GBP onto a market (e.g. converting to US Dollars).
# On many markets, there are huge restrictions on withdrawing fiat and large Bitcoin amounts.
# You often need to pay fees to put money onto the exchanges in the first place.

And other costs that brokers have to face include:

# There is fraud in the banking world, meaning brokers sometimes lose money altogether.
# Most banks hate cryptocurrencies, meaning there's the risk of losing bank accounts.
# Banks often charge fees for transactions, especially on business bank accounts.

Those costs, including time costs, all add up. We believe Bittylicious offers one of the simpler ways for people to buy Bitcoins and sometimes this can come at a little extra cost.

===Transaction fees===

As well as the costs listed above, the Bitcoin network has a concept of ''transaction fees'', which originally was designed to be a small fee for transactions to be sent and included in a Bitcoin block. Bittylicious uses the recommended fee set by the Bitcoin core client to get a transaction confirmed quickly, although if there are unexpected spikes in network activity or a lack of blocks it can take a little longer. Generally these fees are not particularly high, however at times of extreme load on the network, these have however been exceptionally high (~£25) and would always need to be included within the price.

Estimates of the current network fees are available can be viewed at [https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#3m BitInfoCharts].

Why do Bitcoins on Bittylicious cost so much?

2024-09-26T10:53:30Z

Nicguana:

Before asking this question, you should understand how Bittylicious works.

Bittylicious actually works as a marketplace with many different Bitcoin brokers on the back end. They can each choose their own price and the best one is provided to you, the user. This means that the price shown is the best price that the brokers are willing to trade at. The price is ''not'' controlled by Bittylicious itself and there is no fixed price formula.

Often, the price is a bit more than some of the large exchanges out there, and to do a fair comparison you would need to compare it with other GBP sites.

There are many costs associated with offering Bitcoins and other virtual currencies to you, the user, on Bittylicious. Compared to the bigger exchanges, the benefits of Bittylicious over a large market include:

# Bittylicious is Isle of Man-based and follows Isle of Man law.
# Bittylicious is priced primarily in British pounds.
# You would need to pay foreign exchange costs to put GBP onto a market (e.g. converting to US Dollars).
# On many markets, there are huge restrictions on withdrawing fiat and large Bitcoin amounts.
# You often need to pay fees to put money onto the exchanges in the first place.

And other costs that brokers have to face include:

# There is fraud in the banking world, meaning brokers sometimes lose money altogether.
# Most banks hate cryptocurrencies, meaning there's the risk of losing bank accounts.
# Banks often charge fees for transactions, especially on business bank accounts.

Those costs, including time costs, all add up. We believe Bittylicious offers one of the simpler ways for people to buy Bitcoins and sometimes this can come at a little extra cost.

===Transaction fees===

As well as the costs listed above, the Bitcoin network has a concept of ''transaction fees'', which originally was designed to be a small fee for transactions to be sent and included in a Bitcoin block. Bittylicious uses the recommended fee set by the Bitcoin core client to get a transaction confirmed quickly, although if there are unexpected spikes in network activity or a lack of blocks it can take a little longer. Generally these fees are not particularly high, however at times of extreme load on the network, these have however been exceptionally high (~£25) and would always need to be included within the price.

Estimates of the current network fees are available can be viewed at [https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#3m BitInfoCharts].

Why do Bitcoins on Bittylicious cost so much?

2024-09-26T10:50:45Z

Nicguana:

Before asking this question, you should understand how Bittylicious works.

Bittylicious actually works as a marketplace with many different Bitcoin brokers on the back end. They can each choose their own price and the best one is provided to you, the user. This means that the price shown is the best price that the brokers are willing to trade at. The price is ''not'' controlled by Bittylicious itself and there is no fixed price formula.

Often, the price is a bit more than some of the large exchanges out there, and to do a fair comparison you would need to compare it with GBP sites based in the UK.

There are many costs associated with offering Bitcoins and other virtual currencies to you, the user, on Bittylicious. Compared to the bigger exchanges, the benefits of Bittylicious over a large market include:

# Bittylicious is UK based and follows UK law.
# Bittylicious is priced primarily in British pounds.
# You would need to pay foreign exchange costs to put GBP onto a market (e.g. converting to US Dollars).
# On many markets, there are huge restrictions on withdrawing fiat and large Bitcoin amounts.
# You often need to pay fees to put money onto the exchanges in the first place.

And other costs that brokers have to face include:

# There is fraud in the banking world, meaning brokers sometimes lose money altogether.
# Most banks hate cryptocurrencies, meaning there's the risk of losing bank accounts.
# Banks often charge fees for transactions, especially on business bank accounts.
# Bittylicious itself charges brokers a small fee.

Those costs, including time costs, all add up. We believe Bittylicious offers one of the simpler ways for people to buy Bitcoins and sometimes this can come at a little extra cost.

===Transaction fees===

As well as the costs listed above, the Bitcoin network has a concept of ''transaction fees'', which originally was designed to be a small fee for transactions to be sent and included in a Bitcoin block. Bittylicious uses the recommended fee set by the Bitcoin core client to get a transaction confirmed quickly, although if there are unexpected spikes in network activity or a lack of blocks it can take a little longer. Generally these fees are not particularly high, however at times of extreme load on the network (eg. December 2017) these have however been exceptionally high (~£25) and would always need to be included within the price.

Estimates of the current network fees are available can be viewed at [https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#3m BitInfoCharts].

Main Page

2024-09-26T10:49:54Z

Nicguana:

__NOTOC__
Bittylicious enables users to buy Bitcoins with minimal fuss. All coins are held in escrow until payment is confirmed.

==Help and Support==

* [[Bitcoin buying guide]]
* [[Bitcoin selling guide]]
* [[Getting verified guide]] (and [[Getting verified guide for corporate accounts|version for corporate accounts]])
* [[Coins have not arrived]]
* [[Refund Process]]

==Legal information==

* [[Anti-Money Laundering Programme]]
* [[Data protection]] and [[GDPR Compliance]]
* [[PCI DSS compliance]]
* [[Data Disclosure Policy]]
* [[Prohibited Use of our Services]]
* [[Unregulated Cryptoassets]]

==Payment questions==

* [[What happens if a payment is delayed?]]
* [[Can I deposit cash over the counter at a UK bank?]]
* [[Can I pay using telephone banking?]]
* [[What are the limits when purchasing Bitcoins?]]
* [[What banks can I not use with Bittylicious?]]
* [[What payment methods can I use?]]
* [[What_countries_are_blocked%3F#Blocked_from_using_Bittylicious_at_all|What countries are blocked from using Bittylicious?]] [[Card_payments|What about just card payments? ]]

==FAQ==

* [[Accepted forms of ID]]
* [[Are any fees taken when buying virtual currency?]]
* [[Bank contact numbers]]
* [[Bitcoin Cash]] and [[SegWit 2x]]
* [[Confirmation of payee]]
* [[Do you have an API?]]
* [[Finding my wallet address from the blockchain.info site]]
* [[How are my uploaded documents stored?]]
* [[How do I add a payment reference in my online banking?]]
* [[How do I get my altcoin or ICO added to Bittylicious?]]
* [[HSBC delays]]
* [[I sent cryptocurrency to the wrong wallet type]]
* [[What is the minimum age to use Bittylicious?]]
* [[What sorts of credit and debit cards do you accept?]]
* [[Will my card issuer charge a fee when paying by credit or debit card?]]
* [[Why am I am not able to trade small amounts?]]
* [[Why do Bitcoins on Bittylicious cost so much?]]
* [[Why does the price change depending on whether I am logged in or not?]]
* [[Why does the price keep changing?]]
* [[Why is Bittylicious sending out replaceable transactions?]]

==Ramblings==

* [[White hat hackers]]

==Links==

* [[Social Links]]

High-net worth individuals

2024-08-14T13:43:13Z

Nicguana:

A person is a high-net worth individual if they have:

* an annual income of £100,000 or more, NOT including one-off pension withdrawals; and/or

* net assets of £250,000 or more, NOT including their home (primary residence), their pension (or any pension withdrawals), or any rights under qualifying contracts of insurance.

This is in line with guidance at time of writing.

High-Risk Products and High-Risk Industries

2024-04-30T15:17:00Z

Nicguana: Included STRIX AML list of commercially exposed industries specifically mentioned in the new FSA statistical return.

If you intend to use the service for a transaction related to high-risk products and/or a high-risk industry, you are required to disclose this to Bittylicious prior to attempting any trades involving these products or industries.

Companies which trade in the following are considered to be operating in a high-risk industry:

* Arms/weapons trading, dealing and defence
* Casinos, gambling and betting
* Construction/development industry
* Dating/adult entertainment industry
* Decision-making members of high profile sporting bodies
* Import/export companies/industry
* Money services businesses
* Oil and gas industry
* Pharmaceuticals and healthcare
* Precious metals and stones mining and trading
* Shipping and transport of goods
* Virtual asset service providers
* Tobacco products
* Cultural artefacts (e.g. items of archaeological, historical, cultural or religious significance)
* Items related to protected species (e.g. ivory)

The list above is non-exhaustive and subject to change in line with global guidance and local regulations.

Note that Bittylicious requires evidence of any customer's commercial activities, particularly where a customer's business operations are cash-intensive.

Specific Circumstances to Disclose

2024-03-25T13:52:02Z

Nicguana:

You are required to disclose whether any of the following circumstances applies to you:

* you live in a [[High-Risk Countries|high-risk country]], or you intend to trade with someone in a [[High-Risk Countries|high-risk country]]
* you are a [[High-net worth individuals|high-net worth individual]]
* you are a [[Politically Exposed Persons (PEPs)|politically exposed person (PEP)]], and/or a family member or close associate of one.
* you are intend to use the service for a transaction related to [[High-Risk Products and High-Risk Industries|high-risk products and/or a high-risk industry]]
* you intend to trade on behalf a trust (or any other legal arrangement), or as a trustee, or on behalf of any third party
* we cannot easily or reliably verify [[ Company Ownership|who owns and/or controls your company]] (company accounts only)
* your company is a vehicle for holding personal assets e.g. special purpose vehicles, investment vehicles, etc. (company accounts only)

Where any of the above may apply, you are required to disclose this and to provide further information to Bittylicious on registration.

Data Retention

2024-03-07T10:26:39Z

Nicguana:

==Data Protection, Regulation And Isle of Man Law==

Bittylicious is registered as a Designated Business with the Isle of Man's Financial Services Authority. As such, it has certain responsibilities with regard to customer data retention which may not apply to companies operating in other industries.

According to paragraph 33 of the [https://www.gov.im/media/470621/anti-moneylaunderingandcounteringthefinancingofterrorismcode2015.pdf Anti-Money Laundering and Countering the Financing of Terrorism Code 2015], Bittylicious is required to store user data for at least 5 years even after accounts are marked as deleted:

Here is the exact wording from the Anti-Money Laundering and Countering the Financing of Terrorism Code, paragraph 33:

<blockquote>'''33 Record retention
*(1)A relevant person must keep the records required by this Code for at least 5 years
**(a)in the case of records required by paragraph 32(b), from the date of the completion of the transaction; and
**(b)in other cases, from the date when
***(i)all activities relating to anoccasional transactionor a series of linked transactions were completed; or
***(ii)in respect of other activities
****(A)the business relationship was formally ended; or
****(B)if the business relationship was not formally ended, when all activities relating to the transaction were completed.
*(2)Without limiting sub-paragraph (1), if
**(a)a report has been made to a constable under paragraphs26(1)(f)and 28;
**(b)the relevant person knows or believes that a matter is under investigation by a competent authority; or
**(c)the relevant person becomes aware that a request for information or an enquiry is underway by a competent authority,the relevant person must retain all relevant records for as long as required by the constable or competent authority as the case may be.
</blockquote>'''

The legislation does not specify a maximum number of years for data retention. This being the case, and following common industry practice, Bittylicious retains data for 5 years from the date of deletion.

When the account is marked as deleted, we set a flag meaning the account can no longer be registered again. After 10 years, any sort of identifiable data, including uploaded data, will be automatically deleted.

==GDPR Article 17 Right To Erasure==

The Isle of Man is not a member of the European Union. Even though Isle of Man legislation specifically introduced the GDPR into law, the GDPR itself specifically allows for instances where Article 17 (right to erasure) conflicts with other legislation, even in member states.

In the case of Bittylicious, Isle of Man legislation is the only applicable law, namely the [https://www.gov.im/media/470621/anti-moneylaunderingandcounteringthefinancingofterrorismcode2015.pdf Anti-Money Laundering and Countering the Financing of Terrorism Code 2015], as described above.

Bittylicious therefore not only has the right, but has an explicit duty under Isle of Man law, to retain these records for longer than companies which are not registered as a Designated Business might. It is unfortunate that the legislation does not explicitly set an upper limit of years for record retention. This being the case, Bittylicious follows common industry practice and retains records for 5 years, enabling it to comply fully with its anti-money laundering and counter-terrorism financing duties as a Designated Business.

High-Risk Countries

2024-03-06T10:12:34Z

Nicguana:

Bittylicious expects its customers to disclose whether they are based in a high-risk third country, as defined by the Isle of Man government and bodies such as the Financial Action Task Force (FATF).

Countries may be designated as high-risk where the levels of corruption, criminal activity, terrorism, illegal drug-trafficking, etc. indicate a higher risk of money laundering or terrorist financing. Such countries may also be subject to sanctions, embargoes or similar measures issued by, for example, the European Union or the United Nations.

For individuals, assessment would be based on their country of residency. For corporate entities, this would be where they are incorporated, have their principal place of business, have their principal regulatory authority, or where its owners and controllers reside.

For more detailed information on how high-risk third countries are identified, along with a definitive list of countries considered High-Risk at any given time, please see the [https://www.gov.im/about-the-government/departments/home-affairs/chief-executives-office/anti-money-laundering-legislation-and-countering-the-financing-of-terrorism-amlcft/ Isle of Man Government] and [https://www.fatf-gafi.org/ FATF] websites for more information.

The list of countries considered high-risk is subject to change at short notice. Please consult the above websites for the most up-to-date information.
By way of reference, at time of writing, high-risk third countries include the following (subject to change at short notice):

* Afghanistan
* Algeria
* Angola
* Belarus
* Bolivia
* Bulgaria
* Burkina Faso
* Burundi
* Cameroon
* Cayman Islands
* Central African Republic
* Chad
* Comoros
* Congo, Democratic Republic
* Congo (Brazzaville)
* Côte d’Ivoire
* Croatia
* Cuba
* Democratic People's Republic of Korea (DPRK)
* Egypt
* Equatorial Guinea
* Eritrea
* Eswatini (Swaziland)
* Ethiopia
* Gabon
* Guinea
* Guinea Bissau
* Haiti
* Iran
* Iraq
* Israel
* Jamaica
* Kenya
* Kyrgyzstan
* Laos (Lao People's Democratic Republic?)
* Lebanon
* Liberia
* Libya
* Madagascar
* Mali
* Mauritania
* Moldova
* Mozambique
* Myanmar
* Namibia
* Niger
* Nigeria
* Pakistan
* Philippines
* Russia
* Sao Tome and Principe
* Senegal
* Sierra Leone
* Solomon Islands
* Somalia
* South Africa
* South Sudan
* Sudan
* Suriname
* Syria
* Tajikistan
* Tanzania
* Togo
* Türkiye
* Turmenistan
* Ukraine
* Venezuela
* Vietnam
* West Bank
* Yemen
* Zimbabwe

For more information on how high-risk third countries are identified, please see the [https://www.gov.im/about-the-government/departments/home-affairs/chief-executives-office/anti-money-laundering-legislation-and-countering-the-financing-of-terrorism-amlcft/ Isle of Man Government] and [https://www.fatf-gafi.org/ FATF] websites.

High-net worth individuals

2024-01-15T14:17:35Z

Nicguana: HMRC HNWI definition corrected (previously only should definition of 'affluent', which is not the same as HNWI)

A person is a high-net worth individual if their assets are equal to or above £20 million.

This is in line with tax guidance at time of writing.

Unregulated Cryptoassets

2023-11-22T12:45:45Z

Nicguana:

Cryptocurrencies such as Bitcoin, Ethereum or Litecoin are considered to be [https://www.iomfsa.im/media/2720/regulatory-perimeter-for-tokens.pdf unregulated tokens] by the Isle of Man's Financial Services Authority.

All cryptocurrencies bought and sold on Bittylicious are unregulated tokens.

Government services and schemes such as the Isle of Man's Depositors' Compensation Scheme, the
UK's Financial Ombudsman Service or the Financial Services Compensation Scheme do not apply to the cryptoasset activities carried on by Bittylicious (Isle of Man) Limited.

Therefore, any purchase or sale of any cryptocurrency on Bittylicious is at your own risk.

Do not buy cryptocurrency unless you are prepared to lose all the money you invest.

Company Ownership

2023-05-11T14:24:25Z

Nicguana:

Bittylicious needs to know who its customers are, and will only deal with the customer '''directly'''.

Customers attempting to use the platform on behalf on anyone else are not permitted to trade.

Bittylicious also needs to know how customers made the money they use on the platform. This is to ensure that funds used on the platform were not gained through crime or in connection with any activity considered illicit under Isle of Man law (see [[Prohibited Use of our Services|Prohibited Use of our Services]]).

Individuals own themselves, but companies can be owned and controlled by different people at different times.

This is why:

* company business requires a company account, not an individual account. Individual customers are not permitted to use their personal accounts to conduct company business, regardless of who the company belongs to.

* companies are required to submit information on all directors, owners and controllers, both on registration and periodically throughout the lifetime of the account. This information must be '''verifiable easily and reliably''', through independent national company register extracts, for example. If company information cannot be independently verified in this way, a company will not be permitted to trade on Bittylicious.

* companies are required to submit information on the nature of their business activities, both on registration and periodically throughout the lifetime of the account. Companies that do not comply with requests for information will not be permitted to trade on Bittylicious.

* trusts, investment companies, special purpose vehicles or similar companies often handle other people's money. This makes establishing ownership and control of funds of such companies difficult, if not impossible. Therefore, such companies will not be permitted to trade on Bittylicious.

Company Ownership

2023-05-11T14:23:57Z

Nicguana:

Bittylicious needs to know who its customers are, and will only deal with the customer '''directly'''.

Customers attempting to use the platform on behalf on anyone else are not permitted to trade.

Bittylicious also needs to know how customers made the money they use on the platform. This is to ensure that funds used on the platform were not gained through crime or in connection with any activity considered illicit under Isle of Man law (see [[Prohibited Use of our Services|Prohibited Use of our Services]]).

Individuals own themselves, but companies can be owned and controlled by different people at different times.

This is why:

* company business requires a company account, not an individual account. Individual customers are not permitted to use their personal accounts to conduct company business, regardless of who the company belongs to.

* companies are required to submit information on all directors, owners and controllers, both on registration and periodically throughout the lifetime of the account. This information must be '''verifiable easily and reliably''', through independent national company register extracts, for example. If company information cannot be independently verified, a company will not be permitted to trade on Bittylicious.

* companies are required to submit information on the nature of their business activities, both on registration and periodically throughout the lifetime of the account. Companies that do not comply with requests for information will not be permitted to trade on Bittylicious.

* trusts, investment companies, special purpose vehicles or similar companies often handle other people's money. This makes establishing ownership and control of funds of such companies difficult, if not impossible. Therefore, such companies will not be permitted to trade on Bittylicious.

Company Ownership

2023-05-11T14:23:38Z

Nicguana:

Bittylicious needs to know who its customers are, and will only deal with the customer '''directly'''.

Customers attempting to use the platform on behalf on anyone else are not permitted to trade.

Bittylicious also needs to know how customers made the money they use on the platform. This is to ensure that funds used on the platform were not gained through crime or in connection with any activity considered illicit under Isle of Man law (see [[Prohibited Use of our Services|Prohibited Use of our Services]]).

Individuals own themselves, but companies can be owned and controlled by different people at different times.

This is why:

* company business requires a company account, not an individual account. Individual customers are not permitted to use their personal accounts to conduct company business, regardless of who the company belongs to.

* companies are required to submit information on all directors, owners and controllers, both on registration and periodically throughout the lifetime of the account. This information must be verifiable '''easily and reliably''', through independent national company register extracts, for example. If company information cannot be independently verified, a company will not be permitted to trade on Bittylicious.

* companies are required to submit information on the nature of their business activities, both on registration and periodically throughout the lifetime of the account. Companies that do not comply with requests for information will not be permitted to trade on Bittylicious.

* trusts, investment companies, special purpose vehicles or similar companies often handle other people's money. This makes establishing ownership and control of funds of such companies difficult, if not impossible. Therefore, such companies will not be permitted to trade on Bittylicious.

Prohibited Use of our Services

2023-05-11T11:43:37Z

Nicguana:

Bittylicious reserves the right to close any account if we have reason to suspect the following, without notice, reason or possibility of appeal.

You will be permanently banned from Bittylicious if there is reason to believe that you are seeking to use cryptocurrency for the following reasons:

* any illegal purpose under Isle of Man law, including money laundering (NB: additional rules might also apply in your jurisdiction).
* paying any kind of sum (e.g. ransom) to hackers or fraudsters, regardless of individual circumstances.
* knowingly transferring funds to, from or for a Politically Exposed Person (PEP), someone related to them or their associates without our explicit authorisation.
* transferring funds into or out of any country considered to be a high risk country by the Isle of Man government, the UK government or FATF without our explicit authorisation.

There is no right of appeal in such instances. Your account will be closed, and you will not be able to buy or sell cryptocurrency on Bittylicious. This ban is indefinite.

Finally, please be prepared to have your account closed if you use threatening, coarse or discriminatory language or behave badly towards any our staff, who are entitled to work in a safe and respectful environment.

Company Ownership

2023-05-10T10:26:13Z

Nicguana:

Bittylicious needs to know who its customers are, and will only deal with the customer '''directly'''.

Customers attempting to use the platform on behalf on anyone else are not permitted to trade.

Bittylicious also needs to know how customers made the money they use on the platform. This is to ensure that funds used on the platform were not gained through crime or in connection with any activity considered illicit under Isle of Man law (see [[Prohibited Use of our Services|Prohibited Use of our Services]]).

Individuals own themselves, but companies can be owned and controlled by different people at different times.

This is why:

* company business requires a company account, not an individual account. Individual customers are not permitted to use their personal accounts to conduct company business, whether theirs or anyone else's.

* companies are required to submit information on all directors, owners and controllers, both on registration and periodically throughout the lifetime of the account. This information must be easily and reliably verifiable, through independent national company register extracts, for example. If company information cannot be independently verified, a company will not be permitted to trade on Bittylicious.

* companies are required to submit information on the nature of their business activities, both on registration and periodically throughout the lifetime of the account. Companies that do not comply with requests for information will not be permitted to trade on Bittylicious.

* trusts, investment companies, special purpose vehicles or similar companies often handle other people's money. This makes establishing ownership and control of funds of such companies difficult, if not impossible. Therefore, such companies will not be permitted to trade on Bittylicious.

Company Ownership

2023-05-10T10:25:30Z

Nicguana:

Bittylicious needs to know who its customers are, and will only deal with the customer ''directly''.

Customers attempting to use the platform on behalf on anyone else are not permitted to trade.

Bittylicious also needs to know how customers made the money they use on the platform. This is to ensure that funds used on the platform were not gained through crime or in connection with any activity considered illicit under Isle of Man law (see [[Prohibited Use of our Services|Prohibited Use of our Services]]).

Individuals own themselves, but companies can be owned and controlled by different people at different times.

This is why:

* company business requires a company account, not an individual account. Individual customers are not permitted to use their personal accounts to conduct company business, whether theirs or anyone else's.

* companies are required to submit information on all directors, owners and controllers, both on registration and periodically throughout the lifetime of the account. This information must be easily and reliably verifiable, through independent national company register extracts, for example. If company information cannot be independently verified, a company will not be permitted to trade on Bittylicious.

* companies are required to submit information on the nature of their business activities, both on registration and periodically throughout the lifetime of the account. Companies that do not comply with requests for information will not be permitted to trade on Bittylicious.

* trusts, investment companies, special purpose vehicles or similar companies often handle other people's money. This makes establishing ownership and control of funds of such companies difficult, if not impossible. Therefore, such companies will not be permitted to trade on Bittylicious.

Company Ownership

2023-05-10T10:23:07Z

Nicguana:

Company Ownership

2023-05-10T10:22:51Z

Nicguana: Created page with "Bittylicious needs to know who its customers are, and will only deal with the customer ''directly''. Customers attempting to use the platform on behalf on anyone else are not permitted to trade. Bittylicious also needs to know how customers made the money they use on the platform. This is to ensure that funds used on the platform were not gained through crime or in connection with any activity considered illicit under Isle of Man law (see Prohibited Use of our Ser..."

High-Risk Products and High-Risk Industries

2023-05-09T16:39:04Z

Nicguana:

If you are intend to use the service for a transaction related to high-risk products and/or a high-risk industry, you are required to disclose this to Bittylicious prior to attempting any trades involving these products or industries.

Companies which trade in the following are considered to be operating in a high-risk industry:

* oil
* arms
* precious metals
* tobacco products
* cultural artefacts
* items related to protected species (e.g. ivory)
* items of archaeological, historical, cultural or religious significance

The list above is non-exhaustive and subject to change in line with global guidance and local regulations.

Note that Bittylicious requires reliable evidence of any customer's commercial activities, particularly where a customer's business operations are cash-intensive.

High-Risk Products and High-Risk Industries

2023-05-09T16:35:52Z

Nicguana:

High-Risk Products and High-Risk Industries

2023-05-09T16:34:23Z

Nicguana:

If you are intend to use the service for a transaction related to high-risk products and/or a high-risk industry, you are required to disclose this to Bittylicious prior to attempting any trades involving these products or industries.

Companies which trade in the following are considered to be operating in a high-risk industry:

* oil
* arms
* precious metals
* tobacco products
* cultural artefacts
* items related to protected species (e.g. ivory)
* items of archaeological, historical, cultural or religious significance
* items of rare scientific value
* any industry which is cash-intensive

The list above is non-exhaustive and subject to change in line with global guidance and local regulations.

High-Risk Products and High-Risk Industries

2023-05-09T16:12:44Z

Nicguana: Created page with "If you are intend to use the service for a transaction related to high-risk products and/or a high-risk industry, you are required to disclose this to Bittylicious prior to attempting any trades involving these products or industries. High-risk industries include (but are not limited to) oil, arms, precious metals, tobacco products, cultural artefacts, ivory or other items related to protected species, or other items of archaeological, historical, cultural or religious..."

If you are intend to use the service for a transaction related to high-risk products and/or a high-risk industry, you are required to disclose this to Bittylicious prior to attempting any trades involving these products or industries.

High-risk industries include (but are not limited to) oil, arms, precious metals, tobacco products, cultural artefacts, ivory or other items related to protected species, or other items of archaeological, historical, cultural or religious significance or of rare scientific value.

High-net worth individuals

2023-05-04T09:46:42Z

Nicguana: Created page with "A person is a high-net worth individual if they satisfy at least ''one'' of the following: * they have income of over £200,000 per year or more; and/or * their assets are equal to or above £2 million This is in line with Isle of Man and UK tax guidance at time of writing."

A person is a high-net worth individual if they satisfy at least ''one'' of the following:

* they have income of over £200,000 per year or more; and/or
* their assets are equal to or above £2 million

This is in line with Isle of Man and UK tax guidance at time of writing.

Specific Circumstances to Disclose

2023-05-04T09:42:38Z

Nicguana:

You are required to disclose whether any of the following circumstances applies to you:

* you live in a [[High-Risk Countries|high-risk country]], or you intend to trade with someone in a [https://help.bittylicious.com/index.php?title=High-Risk_Countries high-risk country]
* you are a [[High-net worth individuals|high-net worth individual]]
* you are a [[Politically Exposed Persons (PEPs)|politically exposed person (PEP)]], and/or a family member or close associate of one.
* you intend to use the service for a transaction related to high-risk products, including (but not limited to) oil, arms, precious metals, tobacco products, cultural artefacts, ivory or other items related to protected species, or other items of archaeological, historical, cultural or religious significance or of rare scientific value
* you intend to trade on behalf of a legal person (e.g. as a trustee, on behalf of a trust), or you are in a legal arrangement (e.g. a trust) with an entity that is a vehicle for holding personal assets (e.g. special purpose vehicles, investment vehicles)
* company accounts: your company has nominee shareholders or shares in bearer form
* company accounts: your company is a cash-intensive business
* company accounts: your company's structure is unusual or excessively complex given the nature of the company’s business

Where any of the above may apply, you are required to disclose this and to provide further information to Bittylicious on registration.

Specific Circumstances to Disclose

2023-05-03T09:11:59Z

Nicguana:

You are required to disclose whether any of the following circumstances applies to you:

* you live in a [https://help.bittylicious.com/index.php?title=High-Risk_Countries high-risk country], or you intend to trade with someone in a [https://help.bittylicious.com/index.php?title=High-Risk_Countries high-risk country]
* you are a high-net worth individual
* you are a [https://help.bittylicious.com/index.php?title=Politically_Exposed_Persons_(PEPs) politically exposed person (PEP)], and/or a family member or close associate of one.
* you intend to use the service for a transaction related to high-risk products, including (but not limited to) oil, arms, precious metals, tobacco products, cultural artefacts, ivory or other items related to protected species, or other items of archaeological, historical, cultural or religious significance or of rare scientific value
* you intend to trade on behalf of a legal person (e.g. as a trustee, on behalf of a trust), or you are in a legal arrangement (e.g. a trust) with an entity that is a vehicle for holding personal assets (e.g. special purpose vehicles, investment vehicles)
* company accounts: your company has nominee shareholders or shares in bearer form
* company accounts: your company is a cash-intensive business
* company accounts: your company's structure is unusual or excessively complex given the nature of the company’s business

Where any of the above may apply, you are required to disclose this and to provide further information to Bittylicious on registration.

Specific Circumstances to Disclose

2023-05-03T09:02:05Z

Nicguana:

You are required to disclose whether any of the following circumstances applies to you:

* you intend to use the service for the provision of services to any third party
* you are a high-net worth individual
* you live in a [https://help.bittylicious.com/index.php?title=High-Risk_Countries high-risk country], or you intend to trade with someone in a [https://help.bittylicious.com/index.php?title=High-Risk_Countries high-risk country]
* you are a [https://help.bittylicious.com/index.php?title=Politically_Exposed_Persons_(PEPs) politically exposed person (PEP)], and/or a family member or close associate of one.
* you intend to use the service for a transaction related to high-risk products, including (but not limited to) oil, arms, precious metals, tobacco products, cultural artefacts, ivory or other items related to protected species, or other items of archaeological, historical, cultural or religious significance or of rare scientific value
* you intend to trade on behalf of a legal person (e.g. as a trustee, on behalf of a trust), or you are in a legal arrangement (e.g. a trust) with an entity that is a vehicle for holding personal assets (e.g. special purpose vehicles, investment vehicles)
* company accounts: your company has nominee shareholders or shares in bearer form
* company accounts: your company is a cash-intensive business
* company accounts: your company's structure is unusual or excessively complex given the nature of the company’s business

Where any of the above may apply, you are required to disclose this and to provide further information to Bittylicious on registration.

Specific Circumstances to Disclose

2023-05-03T09:01:13Z

Nicguana:

You are required to disclose whether any of the following circumstances applies to you:

* you intend to use the service for the provision of services to any third party
* you are a high-net worth individual
* you live in a [https://help.bittylicious.com/index.php?title=High-Risk_Countries high-risk country], or you intend to trade with someone in a [https://help.bittylicious.com/index.php?title=High-Risk_Countries high-risk country]
* you are a [https://help.bittylicious.com/index.php?title=Politically_Exposed_Persons_(PEPs) politically exposed person (PEP)], and/or a family member or close associate of one.
* you are intend to use the service for a transaction related to high-risk products, including (but not limited to) oil, arms, precious metals, tobacco products, cultural artefacts, ivory or other items related to protected species, or other items of archaeological, historical, cultural or religious significance or of rare scientific value
* company accounts: you intend to trade on behalf of a legal person (e.g. as a trustee, on behalf of a trust), or you are in a legal arrangement (e.g. a trust) with an entity that is a vehicle for holding personal assets (e.g. special purpose vehicles, investment vehicles)
* company accounts: your company has nominee shareholders or shares in bearer form
* company accounts: your company is a cash-intensive business
* company accounts: your company's structure is unusual or excessively complex given the nature of the company’s business

Where any of the above may apply, you are required to disclose this and to provide further information to Bittylicious on registration.

Prohibited Use of our Services

2023-04-14T09:21:57Z

Nicguana:

Here at Bittylicious, we reserve the right to close any account if we have reason to suspect the following, without notice or possibility of appeal.

You will be permanently banned from Bittylicious if there is reason to believe that you are seeking to use cryptocurrency for the following reasons:

* any illegal purpose under Isle of Man law, including money laundering (NB: additional rules might also apply in your jurisdiction).
* paying any kind of sum (e.g. ransom) to hackers or fraudsters, regardless of individual circumstances.
* knowingly transferring funds to, from or for a Politically Exposed Person (PEP), someone related to them or their associates without our explicit authorisation.
* transferring funds into or out of any country considered to be a high risk country by the Isle of Man government, the UK government or FATF without our explicit authorisation.

There is no right of appeal in such instances. Your account will be closed, and you will not be able to buy or sell cryptocurrency on Bittylicious. This ban is indefinite.

Finally, please be prepared to have your account closed if you use threatening, coarse or discriminatory language or behave badly towards any our staff, who are entitled to work in a safe and respectful environment.

Getting verified guide for corporate accounts

2023-02-28T11:01:06Z

Nicguana:

=Introduction=

This follows on from the [[Getting verified guide]], but will detail the process for corporate accounts. The first five steps are detailed in the [[Getting verified guide]].

Corporate accounts require a little more information, but are more than welcome on Bittylicious.

=Step 6 - Company details=

[[File:Company Validation Step 1.PNG|500px|thumb|left|Registration page]]
 

The first step in the ''Verification'' pages details basic information about your company. Please fill in the following details:

* '''Business name:''' The full business name according to the official registry.
* '''Registered country:''' The country in which the company is registered. If you click ''Other'', you will be provided with a list of countries outside the United Kingdom.
* '''Company type:''' The company type. Most "limited" companies not on a stock market come under ''Private Limited company''. Please enter the closest company type according to your jurisdiction.
* '''Registration number:''' The unique registration number according to any official registry, e.g. Companies House, Companies Registry, etc. Bittylicious will attempt to auto-detect this if this is a company in England and Wales or Scotland.
* '''Formation date:''' The date in which the company was formed or officially registered.

=Step 7 - Company address=

[[File:Company Validation Step 2.PNG|500px|thumb|left|Company addresses page]]
 

Bittylicious will attempt to fetch information from Companies House if this is an England and Wales or Scotland company. In all other cases, you will need to enter the following addresses:

* '''Registered company address:''' The address at which your company is formally registered.
* '''Principle place of business:''' The address where most of the work for the company is performed.

In many cases, the ''Principle place of business'' is the same as the ''Registered company address'', in which case you can tick the ''Same as registered company address'' box.

Once the address(es) are entered, please click ''Update company addresses''.

=Step 8 - Company people=

[[File:Company Validation Step 3.PNG|500px|thumb|left|People page]]
 

Again, Bittylicious will attempt to fetch information from Companies House if this is an England and Wales or Scotland company. In all other cases, you will need to enter the following information:

* '''Primary company officer:''' The main company officer with signatory power who is signing up for this account. We will need a proof of name for this company officer later on.
* '''Senior company officers:''' Other senior company officers, e.g. other directors.
* '''Ultimate owners:''' Real people who have 25% or more shares or voting rights.

You will need to enter the ''Name'', ''Nationality'', ''Country of birth'', ''Country of residence'' and ''Date of birth'' for all officers and owners.

Primary and senior company officers can also be ultimate owners. If this is the case, click ''Also an ultimate owner'' to the right of the officer in question.

In the screenshot above, there are three relevant people:

* Satoski Nakamoto: Both the primary company officer and an ultimate owner.
* Hal Finney: A senior company officer only.
* Dorian Nakamoto: An ultimate owner only.

Once all information has been entered, please click ''Update company officers''.

=Step 9 - Mobile phone verification=

[[File:Company Validation Step 4a.PNG|500px|thumb|left|Mobile phone verification page]]
 

Please enter your mobile phone number here including the international prefix, e.g. +44 for the United Kingdom.

Click ''Add mobile phone number to profile'' and Bittylicious will send a SMS (text message) to your mobile phone number.

=Step 10 - Enter SMS verification code=

[[File:Company Validation Step 4b.PNG|500px|thumb|left|Mobile phone verification input page]]
 

Please enter the SMS code received on your mobile phone into this box and click ''Verify mobile phone number''. In this case, we assume you received the code ''2083236893'' but you probably received something else.

If you made a mistake with your mobile phone number, you can click ''Delete mobile phone number'' to try again. You can only do this a limited number of times.

=Step 11 - Source of Funds=

[[File:pers2.PNG|500px|thumb|left|Source of funds page]]
 
Please fill in the declartion of where your main source of funds for purchasing is. You may be asked to provide confirmation of this towards the end of the validation process. Once that is selected click on the ''Update source of funds information'' to continue

=Step 12 - Company proof of address documentation=

[[File:Company Validation Step 7.PNG|500px|thumb|left|Company proof of address page]]
 

Here, you will need to upload suitable proof of address documentation for the company. This must be one of the documents [[Accepted forms of ID#Proof_of_address|that we permit]] but in general, this is well known statements from well known companies sent to your company's registered address.

You need to select the type of document you are uploading first. Then, you need to click ''Browse...'' to choose a file corresponding to a photo of your proof of address. This can also be a PDF downloaded from your provider's website (e.g. a downloaded gas statement).

Once you have selected the document, click ''Upload proof of address''. A yellow progress bar will be displayed, and afterwards, your verification documents will be submitted.

You are also welcome to upload a bank account statement. It is recommended to do this if you have one available.

=Step 13 - Director proof of name=

[[File:Company Validation Step 8.PNG|500px|thumb|left|Proof of name page]]
 

Here, you will need to upload suitable proof of name documentation for the primary company officer. This must be one of the documents [[Accepted forms of ID#Proof_of_name|that we permit]] but in general, this is governmental photo ID.

You need to select the type of document you are uploading first. Then, you need to click ''Browse...'' to choose a file corresponding to a photo of your ID. Click on the next ''Browse...'' button to upload the reverse of the document if appropriate, e.g. for a driving license.

Once you have selected the documents, click ''Upload proof of name''. A yellow progress bar will be displayed, and afterwards, you will be directed to the ''Proof of address'' page.

You are also welcome to upload a second proof of name. It is recommended to do this if you have one available, e.g. a passport and a driving license.

=Step 14 - Wait for verification=

[[File:pers6.PNG|Verification documents are in the queue]]
 

Once you have done this, on the homepage you will see a small, red bar saying that your documents are in the queue for verification.

During the UK working day, this usually takes a few hours maximum. During the night, please expect to wait until the next morning for your documents to be verified.

If anything is wrong with your documents, Bittylicious will detail the reasons in an email which will be sent out. We are friendly, so please feel free to [mailto:support@bittylicious.com drop our support team an email] if you are struggling in any way. We respond very quickly.

High-Risk Countries

2023-02-25T15:30:47Z

Nicguana:

Bittylicious expects its customers to disclose whether they are based in a high-risk third country, as defined by the Isle of Man government and bodies such as the Financial Action Task Force (FATF).

Countries may be designated as high-risk where the levels of corruption, criminal activity, terrorism, illegal drug-trafficking, etc. indicate a higher risk of money laundering or terrorist financing. Such countries may also be subject to sanctions, embargoes or similar measures issued by, for example, the European Union or the United Nations.

For individuals, assessment would be based on their country of residency. For corporate entities, this would be where they are incorporated, have their principal place of business, have their principal regulatory authority, or where its owners and controllers reside.

For more detailed information on how high-risk third countries are identified, along with a definitive list of countries considered High-Risk at any given time, please see the [https://www.gov.im/about-the-government/departments/home-affairs/chief-executives-office/anti-money-laundering-legislation-and-countering-the-financing-of-terrorism-amlcft/ Isle of Man Government] and [https://www.fatf-gafi.org/ FATF] websites for more information.

The list of countries considered high-risk is subject to change at short notice. Please consult the above websites for the most up-to-date information.
By way of reference, at time of writing, high-risk third countries include the following (subject to change at short notice):

* Afghanistan
* Albania
* Angola
* Bangladesh
* Barbados
* Benin
* Bhutan
* Brazil
* Burkina Faso
* Cambodia
* Cameroon
* Cape Verde
* Cayman Islands
* Central African Republic
* Chad
* Chile
* China
* Colombia
* Comoros
* Congo (Brazzaville)
* Côte d’Ivoire
* Democratic People's Republic of Korea (DPRK)
* Democratic Republic of the Congo
* Egypt
* Equatorial Guinea
* Eritrea
* Eswatini (Swaziland)
* Ethiopia
* Gabon
* Gibraltar
* Guinea
* Guinea Bissau
* Haiti
* India
* Indonesia
* Iran
* Iraq
* Israel
* Jamaica
* Jordan
* Kenya
* Kyrgyzstan
* Laos (Lao People's Democratic Republic?)
* Lebanon
* Liberia
* Libya
* Madagascar
* Maldives
* Mali
* Mozambique
* Myanmar
* Nepal
* Niger
* Nigeria
* Pakistan
* Panama
* Papua New Guinea
* Philippines
* Russia
* Sao Tome and Principe
* Saudi Arabia
* Senegal
* South Africa
* Sierra Leone
* Solomon Islands
* Somalia
* South Sudan
* Sri Lanka
* Sudan
* Syria
* Tanzania
* Togo
* Tonga
* Tunisia
* Türkiye
* Uganda
* Ukraine
* United Arab Emirates
* Venezuela
* Vietnam
* Western Sahara
* Yemen
* Zimbabwe

For more information on how high-risk third countries are identified, please see the [https://www.gov.im/about-the-government/departments/home-affairs/chief-executives-office/anti-money-laundering-legislation-and-countering-the-financing-of-terrorism-amlcft/ Isle of Man Government] and [https://www.fatf-gafi.org/ FATF] websites.

High-Risk Countries

2023-02-23T17:32:40Z

Nicguana:

Bittylicious expects its customers to disclose whether they are based in a high-risk third country, as defined by the Isle of Man government and bodies such as the Financial Action Task Force (FATF).

Countries may be designated as high-risk where the levels of corruption, criminal activity, terrorism, illegal drug-trafficking, etc. indicate a higher risk of money laundering or terrorist financing. Such countries may also be subject to sanctions, embargoes or similar measures issued by, for example, the European Union or the United Nations.

For individuals, assessment would be based on their country of residency. For corporate entities, this would be where they are incorporated, have their principal place of business, have their principal regulatory authority, or where its owners and controllers reside.

For more detailed information on how high-risk third countries are identified, along with a definitive list of countries considered High-Risk at any given time, please see the [https://www.gov.im/about-the-government/departments/home-affairs/chief-executives-office/anti-money-laundering-legislation-and-countering-the-financing-of-terrorism-amlcft/ Isle of Man Government] and [https://www.fatf-gafi.org/ FATF] websites for more information.

The list of countries considered high-risk is subject to change at short notice. Please consult the above websites for the most up-to-date information.
By way of reference, at time of writing, high-risk third countries include the following (subject to change at short notice):

* Afghanistan
* Albania
* Angola
* Bangladesh
* Barbados
* Benin
* Bhutan
* Brazil
* Burkina Faso
* Cambodia
* Cameroon
* Cape Verde
* Cayman Islands
* Central African Republic
* Chad
* Chile
* China
* Colombia
* Comoros
* Congo (Brazzaville)
* Congo, Dem. Rep.
* Côte d’Ivoire
* Democratic People's Republic of Korea (DPRK)
* Democratic Republic of the Congo
* Egypt
* Equatorial Guinea
* Eritrea
* Eswatini (Swaziland)
* Ethiopia
* Gabon
* Gibraltar
* Guinea
* Guinea Bissau
* Haiti
* India
* Indonesia
* Iran
* Iraq
* Israel
* Jamaica
* Jordan
* Kenya
* Kyrgyzstan
* Laos (Lao People's Democratic Republic?)
* Lebanon
* Liberia
* Libya
* Madagascar
* Maldives
* Mali
* Morocco
* Mozambique
* Myanmar
* Nepal
* Niger
* Nigeria
* Pakistan
* Panama
* Papua New Guinea
* Philippines
* Russia
* Sao Tome and Principe
* Saudi Arabia
* Senegal
* Sierra Leone
* Solomon Islands
* Somalia
* South Sudan
* Sri Lanka
* Sudan
* Syria
* Tanzania
* Togo
* Tonga
* Tunisia
* Türkiye
* Uganda
* Ukraine
* United Arab Emirates
* Venezuela
* Vietnam
* Western Sahara
* Yemen
* Zimbabwe

For more information on how high-risk third countries are identified, please see the [https://www.gov.im/about-the-government/departments/home-affairs/chief-executives-office/anti-money-laundering-legislation-and-countering-the-financing-of-terrorism-amlcft/ Isle of Man Government] and [https://www.fatf-gafi.org/ FATF] websites.