What are the limits when purchasing Bitcoins?: Difference between revisions

Latest revision as of 17:27, 1 November 2024

Verification based limits

Regulations mean that for purchases of any size, all users need to have gone through the full ID validation process. There's a list of the types of documents we can accept for that on our accepted forms of ID page

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 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.

@@ Line 1: / Line 1: @@
-==Bittylicious is a marketplace==
-Before reading further, please be aware that Bittylicious is technically a marketplace where various sellers offer their Bitcoins for sale. Prices and minimum purchase limits are not set by Bittylicious itself, but by the sellers within Bittylicious.
 ==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:
+Regulations mean that for purchases of any size, all users need to have gone through the full ID validation process. There's a list of the types of documents we can accept for that on our [[Accepted_forms_of_ID|accepted forms of ID]] page
-# 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==
@@ Line 23: / Line 13: @@
 ==Account age limit==
-Long term users are generally trusted more, so your overall purchasing limits increase with account age. When your account is 3, 7, 14 or 30 days old (since your first significant purchase), we increase your limits.
+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==
-Once twelve hours have passed since your last purchase, half of that amount can be purchased again. Once 48 hours have passed, the entire amount can be purchased again. For example, 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.
+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.