- Dutch retail broker, BUX, recently announced the official launch of its crypto platform, BUX Crypto.
- The platform will offer trading at zero fees to all users who own 2,500 units of BUX, the firm's native token.
- BUX Crypto will feature six cryptocurrencies and EUR, and it will serve users in 25 European countries.
A Dutch retail brokerage platform, BUX, announced earlier today the launch of its new crypto platform. The platform’s name is BUX Crypto, and it will offer trading services with zero fees.
The company already had a soft launch of the platform in early March. However, it is now ready to launch its crypto-centric platform across Europe. Its CEO and founder, Nick Bortot, commented on the move. He said that “We see BUX Crypto as a natural extension of our current lineup, which is focused on offering products that make it simple and affordable for even the newest investor to get into the financial markets.“
Commission-free trading comes with a catch
The platform will start off with support for only six cryptocurrencies. and a single fiat — EUR. The supported coins will include Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin, as well as its own BUX token.
All coins will have pairs against the EUR, as well as against one another.
However, there is a catch. Despite the fact that the company promotes the platform as a zero-fee exchange, this will only a feature that specific users will enjoy. Those include traders who hold 2,500 BUX tokens, or more.
BUX Crypto is not actually a brand-new platform. It used to have a different name, Blockport. Back then, it served as a social investment platform that BUX acquired in January. It rebranded it as BUX Crypto, and added it to its growing ecosystem.
BUX Crypto will focus on social-driven investing features
The new firm will offer services in 25 European countries, and it will register with DNB (Dutch Central Bank). After the registration, it will be an official crypto services provider.
The shift to cryptocurrency trading makes sense for BUX. It spent the last six years developing apps for a new generation of investors. Now, the popularity of cryptocurrencies skyrocketing, especially among younger traders. It only makes sense for BUX to join the action, and provide an intuitive, elegant interface.
BUX Crypto’s head of product, Sebastian Lichter, spoke of the firm’s plans for the future. He said that the firm will focus on creating social-driven investing features. “As a company that values its community, the product roadmap will focus heavily on building unique features that can bring both beginners and advanced investors together to learn from each other,” he said.