BVCU Bitcoin Gateway - Full Set Up Tutorial

Bull Bitcoin recently announced a partnership with Bow Valley Credit Union (read the blog post here). A ground-breaking product that should serve as a model for financial institutions to offer a simple solution for direct Bitcoin ownership.
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⁠This, then, is a step-by-step guide for helping BVCU customers getting started with their Bitcoin Gateway account creation, and using it successfully.

Accessing Registration from BVCU

1. Login to BVCU online banking and from the top menu bar select Accounts > Open Account.
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1. Select Bitcoin - Open your BVCU Bitcoin Gateway account here. You will be taken to the Registration page for the Bitcoin Gateway, make sure you have your BVCU account number handy.
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Registration

1. On the initial registration screen, provide the requested information. Your BVCU account number can also be your debit card number.
   

   

2. Select Continue, you will be taken to Balance’s agreement forms process, namely:

   1. Balance Custody Agreement

   2. Balance Settlements Addendum

   3. Appointment of BVCU as Authorized Person Agreement

3. Once you have read and understood those documents, hit the Accept button to close the page. Then from the registration form page hit Create account.
   

   

4. A confirmation email will be sent to the email address you have provided, prompting you to set up your account. In that email, hit the Set Up Your Account button.
   

   

5. You will be taken to the account security configuration process:

   1. Set up your account’s password
      

      

   2. Set up your account’s preferred Multi-Factor Authentication method, either via a USB Security Key or an Authenticator Application
      

      

6. Follow the instructions for the chosen option; either insert your security key device, or scan the QR code with your authenticator app. You will receive an email confirming that the password and MFA credentials have been updated.

7. Finally, you will be taken to the Bitcoin Gateway’s dashboard. Your account application will be reviewed and confirmed within three to five business days.
   

   

Bull Bitcoin Registration

1. Once your application is approved and your Bitcoin wallet is set up, you’ll receive a welcome email for your new BVCU Bitcoin Gateway account. Hit the Access Your Wallet button and you will be taken to your new account’s dashboard.
   

   

2. On the right-hand side, under Trade on BULL BITCOIN, hit Register. You will be taken to the Bull Bitcoin agreement forms process.
   

   

3. Upon reading and understanding those, hit Accept and Register. You will be taken back to your account’s dashboard. 
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You are now fully registered and ready to fund your account and buy bitcoin!

Funding Your Account to Buy Bitcoin

1. On your Bitcoin Gateway’s dashboard, under Trade on BULL BITCOIN, you will now see general instructions expanded on how to add funds to your account to buy bitcoin from your Bow Valley Credit Union account’s online banking interface.
   

   

2. In your BVCU account interface, from the top menu bar, select Transfers & Payments, then under the Transfers tab, select Transfer funds.
   

   

3. From the Transfer to section, select the Another Bow Valley CU member option. Then, in the Member's Account number field, enter the account number provided in your Bitcoin Gateway’s right-hand side instructions.
   

   

4. From the Transfer details section, in the Amount field, enter the amount you wish to transfer to your Bitcoin Gateway account, and select one of the Transfer type options that best suits your needs (Immediate [default], Schedule, Recurring).
   

   

5. From the Memorandum section, enter the eight-digits Bull Bitcoin account number provided in your Bitcoin Gateway’s right-hand side instructions, then hit Continue. Your BVCU Bitcoin Gateway account will be funded within the next 30 minutes, normally!
   

   

Buying Bitcoin

1. Once your Bitcoin Gateway account is funded, your balance will show on the right-hand side under Trade on BULL BITCOIN, and the Buy Bitcoin button will become available, hit it!

   

2. A new window will pop up. Use the slider next to your balance to select the amount you want to spend, or type it directly into the To Buy fields either in BTC or in CAD. The other fields and slider will automatically adjust to the amount provided, then hit Submit.
   

   

3. On the next screen, a five-minutes countdown locking your order’s rate will display. Once the amounts have been reviewed, hit Confirm Buy to initiate the buy order, or Back to modify the order.

   

4. Following your confirmation of the order, you will be prompted to confirm the operation with your selected MFA method (security key or authenticator app).

   

5. Once completed, a final confirmation screen will appear with your order confirmation and details. Your bitcoin will be received in your Balance wallet within 24 hours, hit Close.

   

6. Your Bitcoin Gateway dashboard will now show a Buy order in progress notice under Trade on Bull Bitcoin.

   

Selling Bitcoin

The process for selling bitcoin is practically identical to the process for buying, detailed above. The one difference being that your confirmation countdown will be of TWO minutes for sell orders, instead of five for buy orders.

Full instructions:

1. Once you successfully bought bitcoin in your Bitcoin Gateway account’s custody, the Sell Bitcoin button will become available on the right-hand side under Trade on BULL BITCOIN, hit it!

   

2. A new window will pop up. Use the slider next to your balance to select the amount you want to sell, or type it directly into the To Sell fields either in BTC or in CAD. The other fields and slider will automatically adjust to the amount provided, then hit Submit.

   

3. On the next screen, a two-minutes countdown locking your order’s rate will display. Once the amounts have been reviewed, hit Confirm sell to initiate the sell order, or Back to modify the order.

   

4. Following your confirmation of the order, you will be prompted to confirm the operation with your selected MFA method (security key or authenticator app).

   

5. Once completed, a final confirmation screen will appear with your order confirmation and details. Your funds will be converted to your available fiat balance within 30 minutes during business hours, hit Close.

   

6. Your available CAD balance will be updated as soon as the sell order is processed.

Withdrawing Bitcoin to a Self-Custodial Wallet

1. Once you successfully purchased bitcoin, you have the ability to withdraw those funds to an external wallet. To do so, you must first access your Bitcoin Gateway’s profile page. From your dashboard’s top right corner name entry, expand it and hit Profile.

2. From there, at the bottom of the page under Account Management, select Withdraw assets.

   

3. A new window will open. Use the To withdraw field or the slider to select the amount you want to withdraw to a self-custodial Bitcoin wallet.

   

4. On the following page, you will be prompted to enter the Bitcoin address from the wallet to which you want to withdraw the bitcoin to in the BTC field. You should verify that the Bitcoin address you input there matches the Bitcoin address from your self-custodial wallet! Once verified successfully, hit Review.

   

5. Your last step will then be to review the amount and address for confirmation of the withdrawal operation, along with the notes concerning withdrawal fees and Balance’s review process. When you’re ready, hit Confirm.

   

6. Back to your profile page, you will now see a confirmation message that your Withdrawal request has been submitted. Allow up to two business days for it to be processed and broadcast to the Bitcoin network.

   

Withdrawing Funds from your Account Balance

1. Once you have successfully funded your account with a fiat balance, the Withdraw button located below the Trade on BULL BITCOIN section on the right-hand side of the dashboard will become available. Hit it!

   

2. A new window will open. Use the To withdraw field or the slider to select the amount you want to withdraw back to your BVCU account, then hit Withdraw. Verify that the account number shown matches your BVCU Member ID!

   

3. The following screen will confirm your withdrawal operation. Hit the Close button to complete the process and head back to your Bitcoin Gateway dashboard.