Frequently asked questions
Is your question not listed here? Please feel free to contact us.
What is BTC Direct?
A cryptocurrency broker.
That may sound very fancy and complicated but it’s nothing more than a platform where people can buy and sell cryptocurrency (eg bitcoin). If you ever invested in stocks you probably didn’t went to Wall Street yourself but used an online broker or bank to do so.
We make it possible for you to buy and sell bitcoins 24 hours per day, 7 days per week. BTC Direct was launched in 2013 and is thus one of the oldest bitcoin companies in the world.
Why should I choose for BTC Direct?
That’s a good question. Because there are other companies where you can buy and sell cryptocurrencies as well. Besides, the bitcoins you buy with us are not better than the bitcoins you can buy somewhere else.
However, BTC Direct has a couple of unique selling points that make us worth your while;
- Bitcoins within two minutes. When you make a payment with a verified bank account you will receive your bitcoins within two minutes.
- Live support. Every business day from 09:00 - 22:00 and on weekends from 12:00 - 18:00 our support agents are there to help you out with any questions you might have.
- Reliable. When you decide you want to buy or sell cryptocurrencies you want to do that with a company that you can trust. Learn what our customers have to say about us on our Trustpilot page.
Which fees do I pay?
Our current fees are 2% for buy and 1% for sell orders. These fees are already calculated in the bitcoin price you see on our homepage.
There are also fees for the various payment methods which you can choose from. The fee for a bank transfer for instance is 2.5% of the order amount. All fees are clearly stated before you make your payment.
Why do I have to send a picture of my identity card or passport?
We focus on providing a platform where you can buy and sell cryptocurrencies with the greatest of ease. If we would offer our services without identifying our users it would open the door for illicit activity as well. Criminals could for instance buy bitcoins with hacked bank account. As a measure to keep both our users and our platform safe we ask you to identify yourself before you can start using our platform.
Does BTC Direct stores my bitcoins for me?
No, BTC Direct solely offers a solution where you can buy and sell bitcoins. You can store your bitcoins in a bitcoin wallet. Whenever you place a buy order we ask you to provide us with the address of your bitcoin wallet. After you have finished the payment we will send the bitcoins to this address. You can find everything you need to know about setting up your bitcoin wallet within minutes right here.
Which countries are supported?
At the moment our services are available for everyone within the SEPA.
Do you offer live support as well?
Yes we do! We proud ourselves in offering top of the bill customer support. Our support agents are available every business day from 09:00 - 22:00 and on weekends from 12:00 - 18:00 to help you out with any questions you might have.
At which times is the support available?
On business days from 09:00 - 22:00 and on weekends from 12:00 - 18:00. Outside of these hours you can always contact us by email. We try our best to respond to all emails within 24 hours.
I believe I can add something to your team, when can I start?
We are always looking for talent. If you believe you can add something to our team we would love to hear from you! Please send your application to [email protected]
Does BTC Direct offer consulting, seminars, etc.
Yes we do! Feel free to contact us with your inquiry and we will find a tailored solution for you.
What happens if BTC Direct goes bankrupt?
For you, nothing. Remember, we don’t hold any funds for our users.. Sadly enough you will have to find another way to buy and sell cryptocurrencies from then on.
There will also be a surplus of bitcoin experts on the labor market.
What is the minimum amount I can buy bitcoins for?
Because we want to make bitcoin accessible for everyone, the minimum ordering amount is only 10 €. When it’s your first purchase we also recommend to buy for this minimum amount so you can get a feel for our service and bitcoin in general.
Which payment methods can I use?
An increasing amount! The list currently consists of the following: Sofortbanking, Giropay, bank transfer, credit card, iDEAL, Bancontact, Neteller and MyBank.
How long for I receive my bitcoins?
We try our best to sent your bitcoins within 2 minutes after you have authorized your order. Of course, there are always exceptions. When you use a bank transfer for instance, we wait until the payment is credited to our bank account before we sent out your bitcoins. Delays may also occur when you use a new bank account or credit card outside of business hours. Since we have to verify each new account manually you will have to wait until the next morning. Finally, your transaction may also encounter a delay when it’s larger than average. In which case it may be subject to a cooldown period of maximum 48 hours.
Which wallet do I use?
You are free to choose whichever wallet you like. There are dozens of them! However, we strongly recommend to visit this page. Here you can find step by step instructions for a few wallets we have thoroughly tested and used ourselves.
Can I make payments from someone else’s bank account credit card?
No, this is explicitly prohibted. You can only buy bitcoins from your personal bank account or credit card. This is measure to prevent money laundering for instance. If you do make a payment from a bank account/credit card that is not yours we will cancel the order and refund the payment.
For the same reason we can only send money into your personal bank account in case you decide to sell bitcoins.
I have to enter a bitcoin address, what’s that?
In order for you to receive bitcoins you will need a bitcoin address. This can be compared with an IBAN that you need to receive euro’s in your bank account. When you open a bitcoin wallet you will find our address there. A bitcoin address always starts with the number 1 or 3 en looks something like this: 1BE26yDHLdDSDfXGZRu5ri31fenndt3vko
I’m the victim of a cryptolocker/ransomware virus, what should I do?
When your computer is infected with this so called ‘ransomware’ we always recommend to visit the following website first: https://www.nomoreransom.org/
This website is an initiative of Europol and Kaspersky Lab (among others) and it might offer you a solution to recover your files without paying the ransom. If this doesn’t work for you and you have decided to pay the ransom, please contact us.
I have bought bitcoins but I haven’t received them yet, what gives?
We try our best to send out your bitcoins within two minutes after you have authorized your order. Luckily, we succeed in this mission most of the time. However, there are always exceptions.
Possible exceptions are;
- This is your first order. In this case we will have to verify your order manually. If you make your first order outside of business hours it will thus take a bit longer.
- You have made a payment from another bank account or credit card than we previously seen from you. For the same reason as mentioned above it might take a bit longer for your receive your bitcoins.
- The order you placed is larger than average. We might use a cool-down period (max of 2 business days) for large orders.
It says the bitcoin address I try to enter is incorrect, now what?
When you place your order we ask you to provide us with your bitcoin address so we know where to send your bitcoins to. There will appear a red lining around the entry field if the address you are trying to enter is invalid. You can check this for yourself by entering it on the following website blocktrail.com.
Keep in mind that a bitcoin address always starts with the number 1 or 3. Please feel free to contact us in case you need any assistance.
Can I use my credit card to buy bitcoins?
Yes, you can. We currently accept both Visa and Mastercard credit and debit card payments.
What are my transaction limits?
When we activate your account you can immediately buy cryptocurrencies up to an amount of 1000 € per day. If you would like to make larger purchases that’s possible as well. Please contact us to learn about the possibilities.
Transaction limits may also vary between payment methods. When you log in to your account you will find a table with an overview.
I want to buy bitcoins for an amount larger than 10.000 euro’s, is that possible?
Sure! Please contact us to learn about the possibilities. For orders above 10.000 euro’s we can also offer you a tailor-made trade fee.
Why is my transaction still unconfirmed?
Every bitcoin transaction has to be confirmed by the bitcoin network. On average, one confirmation takes around ten minutes. However, it can also take five seconds or one hour. It’s almost always a matter of time before your transaction will be confirmed by the network and the status of your transaction will change from ‘unconfirmed’ to ‘one confirmation’
If your transactions isn’t confirmed within two hours please feel free to contact us.
My bank blocks my payment to BTC Direct, what should I do?
Unfortunately it has happened in the past that banks blocked payments when they noticed someone was trying to buy bitcoins. They probably did this because criminals found out they could buy bitcoins with hacked bank accounts.
A phone call to your bank where you explain that is in fact you who would like to buy bitcoins should solve the problem.
I receive an error message when I try to make a payment, why is that?
We try our best to make everything go as smoothly as possible. Unfortunately there is always a possibility that something goes wrong. If you receive an error message when you want to finish your payment please make a screenshot of the error and contact us. We will look into it and fix it as soon as possible.
Why can’t I pay with PayPal?
We do everything we can to make the buying of cryptocurrencies as easy as possible. Therefore we try to implement as many payment methods we can. PayPal is a very popular payment method and we often receive requests of our users who would like to see us implement PayPal. However, accepting PayPal payments brings certain risks to the merchant (us). We consider these risks too high at this point and therefore we have decided against accepting PayPal payments for the time being.
Why do I have to sent a proof of payment when I make a bank transfer?
When you open an order and choose for the bank transfer payment option we lock the price for you for one hour. Within this hour you can log in to your online banking environment or go to your local bank and transfer the funds to us. To verify that you have actually made the transfer we ask you to provide us with a proof of payment. This can be a screenshot of the online transfer or a picture of the receipt you receive from your bank. Upon receipt of the proof we go ahead and execute your order on the exchange.
Your bitcoins will be sent as soon as your payment has cleared. Since your order has already been executed you don’t miss out on potential gains when the bitcoin price is rallying in the 1-3 business days it takes for your payment to clear.
How can I activate my account?
Activating your account only takes three small steps;
- Verify your email address
- Verify your phone number
- Sent us a picture of your ID card or passport
If you encounter any problems during the process our support agents would be happy to help you out.
Why did I receive an email with a request to provide additional information?
When the total sum of your transactions exceeds the amount of € 15,000 we may ask you to provide us with some additional information. In that case we would ask you to fill in a short questionnaire where we inquire about the nature of your investments for example.
How can I change my password?
Log in to your account and navigate to the ‘settings’ page. There you will be able to change your password.
How can I change my email address?
Log in to your account and navigate to the ‘settings’ page. There you will be able to change the email address associated with your account.
Why is the ID card or passport I’m trying to sent you declined?
For quality reasons we can only accept pictures, not scans.
Please keep the following in mind as well;
- The whole document has to be visible (including all four corners)
- The document cannot be expired
- Pictures needs to be in high quality (in color and a minimum of 300 kb)
- The file cannot be bigger than 4 mb
Can I buy bitcoins anonymous?
Before you can buy or sell cryptocurrencies on our platform we ask you to sent us a picture of your ID card or passport. So no, you cannot buy bitcoins anonymous with us.
How can I close my account?
Please send an email to [email protected] if you would like to close your account. Make sure that you sent the email from the email address that is associated with your account.
I don’t receive the SMS with my verification code, now what?
When you sign up for an account with us we will send you an SMS with a verification code. With this code you can verify your phone number. If you don’t receive the SMS please check if the phone number you entered is correct. If it’s correct you can click the ‘resend SMS’ button.
Still nothing? Please contact us.
Why don’t I receive the email with my verification link?
Please check your spam folder first.
Nothing in your spam folder as well? Please contact us.
What is bitcoin?
Bitcoin is a so called cryptocurrency. With bitcoin you can send money from one person to another without any third party such as a bank being involved. Kind of like an email that goes directly from me to you.
Bitcoin transaction are extremely fast, can be sent all over the world and are irreversible. Because there is no financial middleman who charges a fee for his services, a bitcoin transaction is much cheaper than a regular bank transfer or credit card payment.
What determines the value of one bitcoin?
The value of bitcoin is determined just as all other things in the world, by supply and demand. When the demand goes up, the value goes up. And it works the other way around as well.
The supply of bitcoins is easily determined. There are now a little over 16 million bitcoins in circulation. With the mining of each new block 12.5 new bitcoins are added to the supply
The demand for bitcoin is a lot harder to determine because it depends on a large amount of variables.
Do you think the price will increase?
We don’t make any price predictions. It’s a lot easier to be wrong than right in case of price predictions and we don’t like being wrong.
What we can say however is that an investment in bitcoin might be one of the most interesting investments you can ever make. Simultaneously it is probably one of the most risky investments you can make. Therefore we always recommend to only invest an amount of money that you are prepared to lose.
What’s a bitcoin wallet?
Just as you keep your euros in a bank account, you keep your bitcoins in a bitcoin wallet. There are a number of wallets you can choose from. On this page you can find information about the different type of wallets and step by step instructions on how you can set up your own bitcoin wallet within minutes.
How many bitcoins are there?
At this moment there are a little over 16 million bitcoins in circulation (december 2016). With the mining of each new block 12.5 new bitcoins are added to this number.
What’s the maximum amount of bitcoins that is ever going to be created?
There will only be a total amount of 21 million bitcoins that is ever going to be created. This number is clearly stated in the bitcoin protocol. The last bitcoins will be mined in the year 2140. The rate at which new bitcoins are created is cut in half every four years.
Is bitcoin anonymous?
Many people believe that this is in fact the case.
However, reality shows that this is only partially true. Every bitcoin transaction that was ever made is visible on the blockchain for everyone to see. There might not be a name or identity mentioned with each transaction but every transaction can be traced back to it’s source.
Most companies where you can buy bitcoins, like BTC Direct, verify its users identities. So when a bitcoin transaction is traced back to its source it can ultimately be connected to an identity.
Can someone steal my bitcoins?
Just like the euros and dollars you keep in your wallet, your bitcoins can be stolen. To prevent this from happening it’s important to choose a secure bitcoin wallet where you can store your bitcoins safely. Tips for securing your bitcoin wallet can be found here.
How do I store my bitcoins safely?
When you have invested a substantial amount it’s important that keep you take some extra security measures for storing your bitcoins safely. You might find the tips on this page to be helpful.
I see that I can choose for an urgent payment, what’s that?
When you sell bitcoins and choose for an urgent payment we will process your payout immediately after the first network confirmation. Urgent payments that are submitted before 15:30 are usually credited to your bank account that same day. This only applies on business days however.
Why do you recommend not sending bitcoins from an exchange?
Because the bitcoin price can be quite volatile from time to time we can only keep your sell order open for 15 minutes. When 15 minutes have passed we will cancel your order and any bitcoins that might arrive later will not be sold.
Most exchanges need longer than 15 minutes to process a withdrawal. That’s why we do not recommend sending bitcoins from an exchange when you wish to sell them to us.
I have sent the bitcoins but it took longer than 15 minutes, what will happen now?
In this case we will cancel your order.
Please contact our support so they can return your bitcoins to you.
I have sent the bitcoins but my order was cancelled, now what?
It probably took longer than 15 minutes for us to receive your bitcoins. If we don’t receive any bitcoins within 15 minutes your order will be cancelled automatically.
Please contact our support so they can return your bitcoins to you.
When will the money be credited to my bank account?
All payouts will be processed on business days around noon. It usually takes 1-3 business days for it to be credited to your bank account.
When you choose for an urgent payment we will process your payout immediately after the first network confirmation. Urgent payments that are submitted before 15:30 are usually credited to your bank account that same day. This only applies to business days.
What are the fees for selling bitcoins?
For selling your bitcoins and transferring the money to your bank account we charge a fee of 1%.
I want to invest in something but the only way to do this is with bitcoins, should I be cautious?
Yes you should. You should ask yourself why they only accept bitcoin as a means of payment. It would seem obvious to us to accept as many payment methods as possible. In case of a scam, ponzi scheme or some other form of fraud you will usually see them promising one of the following as well:
- Outrageously high return (eg 10% or more per month)
- Guaranteed profit (there is no such thing)
- You receive a commission or kickback when you bring in new customers or investors
- The owner of the website or company is unknown
In case of doubt, please feel free to contact us. We might be able to provide you with advice.
I want to buy something in a webshop but the only way to do this is with bitcoins, should I be cautious?
Yes you should. Bitcoin is a great payment method but why would a webshop only accept bitcoin payments? Our experience learns us that there is a high risk that this webshop is selling illegal products.
In case of doubt, please feel free to contact us. We might be able to provide you with advice.
I want to buy bitcoins for someone else, is that allowed?
When you buy bitcoins you can only enter a bitcoin address of which you are the owner. We will send the bitcoins to this address. After that you can send the bitcoins to whoever you like. Maybe you wish to pay someone in bitcoin or you want to send some to a friend. That's all great!
What we cannot allow however is that you sign up for an account on behalf of someone else and then buy bitcoins for this person.
Our immediate payment methods guarantee immediate execution of your order. You save valuable time and benefit from rate increases immediately.
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