On Wednesday, the Dutch retail brokerage platform, BUX, announced the official launching of its crypto platform. This crypto platform promises commission-free trading services to the customers of Europe.
Focusing In On Affordable, Simple Solutions
Aptly named BUX Crypto, the public launch of this crypto trading platform comes shortly after the soft launch that occurred back in March of 2020.
Nick Bortot, the founder and CEO of BUX, gave a statement over the matter as a whole. He explained that BUX saw its new crypto exchange, BUX Crypto, as a natural extension to the firm’s pre-existing lineup. This extension, like the other parts of BUX, is focused on offering products in such a way that it’s both affordable and straightforward for investors to get into the financial markets. This must also be true even for the newest investors, according to Bortot.
Terms And Conditions Apply
At its launch, the platform will only cater to six forms of digital currencies, all of which are significant coins in the crypto industry. BUX Crypto will offer to trade with Ethereum (ETH), Bitcoin (BTC), Bitcoin Cash (BCH), Ripple (XRP), Litecoin (LTC), and the exchange’s native BUX Token. Furthermore, BUX Crypto will allow for trading against the Euro.
While it’s claimed that the platform itself is commission-free, there are essential stipulations to that promise. Tradings must first hold a minimum of 2,500 BUX tokens in order to receive the zero-fee crypto trading service.
Acquiring And Adapting
Back in January of this year, BUX acquired Blockport. At the time, Blockport was a “social” investment platform, but BUX quickly rebranded it to BUX Crypto, then put it in the company’s lineup when it came to trading and investing products.
BUX is set to register within the Dutch Central Bank or DNB. The registration is for being a cryptocurrency services provider, and the exchange stands capable of providing its services within 25 countries within Europe.
Constant Growth Needed
Bortot went further, explaining that BUX has been in the development of apps that fit the next generation of investors’ needs, ever since its launch back in 2014. Part of the current offering for users allows them to invest in shares through an intuitive, elegant interface with a zero-commission format, according to Bortot.
Bortot added that BUX crypto would focus on the development strategy of its products, particularly in regards to social-driven investing features. The firm will start doing this just after its official launch, according to Bortot.