Frequently asked questions
Is your question not listed here? Please feel free to contact us.
What is BTC Direct?
We are an online agent in the buying and selling of bitcoins as well as the starting point for stepping into the world of Bitcoin. Our user-friendly interface makes it childishly simple to buy or sell bitcoins. We stand for speed, safety, convenience and transparency. We do not own a stock of bitcoins, but we place your order on one of the major international exchanges immediately after payment. The bitcoins are purchased directly, so you will benefit from rate increases immediately. You will save valuable time and be in the possession of your bitcoins soon after purchase.
Which fees do I pay?
The fees on our platform are currently as follows:
- Bitcoin: 2% on buy and 1% on sell orders
- Litecoin: 3% on buy and 2% on sell orders
- Ether: 3% on buy and 2% on sell orders
These fees are already included in the prices you see on our homepage. There are also fees for the various payment methods that you can choose from. The fee for a bank transfer for instance is €2.50 per transaction. All fees are clearly stated on your order form before you make the payment.
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 determines the value of one bitcoin?
The value of one bitcoin is determined by supply and demand. The total number of bitcoins issued is predetermined at 21 million. If the demand for bitcoins increases, the value of one bitcoin will logically increase too. The demand for bitcoins will increase as it can be used as payment method in more and more places and the number of users within the bitcoin economy increases. Since Bitcoin happens to be a much faster, cheaper and more efficient method of payment, this seems to be a predictable development.
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 ;)
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 did I receive an email with a request to provide additional information?
When the total sum of your transactions exceeds the amount of € 25,000 we may ask you to provide us with some additional information. In that case we will ask you to fill in a short questionnaire where we inquire about the nature of your investments for example.
How do I store my coins safely?
When you have invested a substantial amount it’s important that keep you take some extra security measures for storing your coins safely. You might find the tips on this page to be helpful.
We strongly advice to use a hardware wallet for coin storage when the overal investments amounts passes the 1,000 euro threshold. Are your ready to enjoy the highest industrial standards combined with the greatest ease of use? Click here to order the Ledger Nano S hardware wallet directly. The Ledger Nano S hardware wallet support storage for bitcoins, litecoins and ethers. Please note that you will be redirected to the website ledger and delivery times may very strongly.
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 types of wallets and step by step instructions on how you can set up your own bitcoin wallet within minutes.
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 link. By clicking on this link, you can verify your phone number and directly proceed to the activation of your account. 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.
Do you think the rate will continue to rise?
We do not make statements about the rate. The potential is unmistakable there, and an investment in bitcoin can yield good returns. At the same time, it is a risky investment. Never invest more than you can afford to lose. We encourage you to take in as much information about Bitcoin as possible and to use that to determine your position.
How can I activate my account?
Activating your account only takes three small steps:
- Verify your email address
- Verify your phone number
- Send 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.
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 or credit card?
No, this is explicitly prohibted. You can only buy cryptocurrencies from your personal bank account or credit card. This is a 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 cryptocurrencies.
How many bitcoins are there?
At this moment there are a little over 17 million bitcoins in circulation (april 2018). With the mining of each new block 12.5 new bitcoins are added to this number.
Why do you not recommend sending coins from an exchange?
Because the prices can be quite volatile from time to time we can only keep your sell order open for 60 minutes. When 60 minutes have passed we will cancel your order and any coins that might arrive later will not be sold.
Most exchanges need longer than 60 minutes to process a withdrawal. That’s why we do not recommend sending coins from an exchange when you wish to sell them to us.
What are my transaction limits?
When we activate your account you can immediately buy cryptocurrencies up to an amount of €2,500 per day. If you would like to make larger purchases, then that’s possible as well. Please contact us to learn about the possibilities.
Transaction limits may also vary between different payment methods. When you log in to your account you will find a table with an overview.
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.
Do you offer live support as well?
Yes we do! We pride ourselves on offering top of the bill customer support. Our support agents are available every business day from 09:00 - 22:00 and on weekends from 10:00 - 18:00 to help you out with any questions you might have.
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 send the email from the email address that is associated with your account.
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 transactions 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.
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 coins you buy with us are no better than the coins you can buy somewhere else.
However, BTC Direct has a couple of unique selling points that make us worth your while:
- Coins within two minutes. When you make a payment with a verified bank account you will receive your coins 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.
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 euros in your bank account. When you open a bitcoin wallet you will find your address there. A bitcoin address always starts with the number 1 or 3 en looks something like this: 1BE26yDHLdDSDfXGZRu5ri31fenndt3vko
Which countries are supported?
At the moment our services are available for everyone within the SEPA.
How do I take a print screen?
MacBook: Shift + cmd + 4.
To take a print screen on your MacBook, you must press the following keys at the same time: Shift + cmd + 4. You can then select the area of ??your screen of which you want to take a print screen. The print screen is stored as a file on your desktop.
Windows: Windows logo key + PRTSC/PRTSCN.
To take a print screen on your windows PC, you must press the following keys at the same time: Windows logo key + PRTSC or PRTSCN. The screenshot will be posted as an image on the virtual clipboard, so you can then simply paste it in any document or editing program (such as Microsoft Paint) using the key combination CTRL-V. If the PrtScr key is combined with the Windows key in Windows 8, the screenshot is saved directly as a PNG file in the folder Pictures/Screenshots.
iPad 1, 2, 3, 4, Air and iPad Mini: - Press the home button and the standby button at the same time and hold these two buttons pressed for a short time. You can find the screenshots in the Camera Roll.
Samsung Galaxy Tab tablets: - Press the back button for a long time, which is the button with the arrow to the left. During this pressing, you press the standby button. The print screen is created when you hear the sound of a picture being taken. You can find the screenshots in the folder: pictures > screenshots.
Samsung Galaxy and Note tablets (newer and after updates): - Try any of the above key combinations, such as pressing the on/off button and volume down button simultaneously for a second. You can find the screenshots in the folder: pictures > screenshots.
Tablet / Google Nexus 7: - Press the standby button and volume down button simultaneously for 2 seconds to take a screenshot of your current screen display.
On some laptops and other devices, the PrtScn key is missing or a different key combination is used to take screenshots. Consult the manual of your laptop or tablet for more information.
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. However, offering services without identifying our users would open the door for illicit activity as it could for instance allow criminals to buy bitcoins with a hacked bank account. In order to keep both our users and our platform safe from frauduleus transactions, we ask you to identify yourself before you can start using our platform.
The documents we receive from you will be saved on an offline, encrypted harddrive. The provided documents are only available to BTC Direct employees, and will never be shared with third parties.
How do I know if I can trust you?
Since June 2013, we are active in the Dutch market and so you can now find enough information and feedback on us on Facebook, Twitter and various forums. We regularly appear in the media and we are proud of BTCDirect. Our passion for Bitcoin is what drives us and we want to introduce as many people as possible to this overwhelming technology.
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 its 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.
Does BTC Direct store my coins for me?
No, BTC Direct solely offers the possibility to buy and sell coins. You can store your coins in a wallet. Whenever you place a buy order we ask you to provide us with the receiving address of your wallet. After you have finished the payment we will send the coins to this address.
You can find everything you need to know about setting up your own wallet on the following pages:
Why don’t I receive the email with my verification link?
Please check your spam folder first. Nothing in your spam folder either? Please contact us.
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 from 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.
I have bought coins but I haven’t received them yet, what gives?
We try our best to send out your coins 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 have previously seen from you. For the same reason as mentioned above it might take a bit longer for you to receive your bitcoins.
- The order you placed is larger than average. We might put your older on hold for a cooldown period (max of 2 business days) for large orders.
Which payment methods can I use?
An increasing amount! The list currently consists of the following: Sofortbanking, Giropay, Bank Transfer, Credit Card, iDEAL, and Bancontact.
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 it is in fact you who would like to buy bitcoins should solve the problem.
I have completed the transaction, but I have not received an email?
Maybe the email you have received from us ended up in your junk mail. Please let us know if this is not the case. We will then send you another email manually.
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.
I have sent the coins but it took longer than 60 minutes, what will happen now?
In this case we will cancel your order.
Please contact our support so they can return your coins to you.
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 want to buy bitcoins, but my bank account is being blocked?
Unfortunately, we have repeatedly heard from our customers that their account has been blocked when they wanted to complete a payment with us. According to the banks, this is for your own safety, but we leave whether this really is the reason for the blockades an open question. Fortunately, you can lift the blockade with one phone call to your bank. Does the speed at which the bank releases your account not meet your needs? Then you can buy bitcoins from Mon-Fri between 10 am and 5 pm using a bank transfer (see payment menu).
I have received an email, but I cannot find the bitcoins in my wallet?
Generally, your bitcoins will be visible in your wallet immediately after receiving our e-mail. In an exceptional case, a delay may occur. The most common reasons for this are:
- You are using a software wallet such as Bitcoin-Qt, but your wallet is not fully synchronized with the network yet. Transactions are logged in chronological order in the block chain. The block with your transaction is thus automatically in the back of the queue and must first be downloaded before the bitcoins are visible in your wallet. Downloading the block chain will start automatically when you start your wallet. If you install the software for the first time, downloading the block chain can take up to 24 hours.
- You are using an online wallet provider that requires several network confirmations for the availability of your bitcoins. The mail you receive from us contains a link to blockchain.info. Under this link, you can see the status and the number of confirmations of your order. If your order has less than six confirmations, it may be that your bitcoins are not visible in your wallet yet. If you do not see the bitcoins in your wallet after six confirmations, we advise you to contact your wallet provider.
- You are using the multibit wallet. Clicking on “Tools” and then “Reset block chain and transactions” button in the menu bar will lead to visibility of your bitcoins in most cases.
- A delay has occurred in the exchange on which we have placed your order. Purchasing bitcoins happens instantly. Due to the hot/cold wallet configuration on the exchange, the actual transfer may sometimes be subject to some delay. This occurs especially in periods of high trading volumes. At any time, you can verify on blockchain.info whether the bitcoins are sent to you.
How long before I receive my coins?
We try our best to send your coins 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 send out your coins. 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 this case it may be subject to a cooldown period of maximum 48 hours.
I have sent the coins but my order was cancelled, now what?
It probably took longer than 60 minutes for us to receive your coins. If we don’t receive any coins within 60 minutes your order will be cancelled automatically.
Please contact our support so they can return your coins to you.
At which times is the support available?
On business days from 09:00 - 22:00 and on weekends from 10:00 - 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.
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.
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 and in color (preferably 1MB or more)
Can I buy cryptocurrencies anonymously?
Before you can buy or sell cryptocurrencies on our platform we ask you to send us a picture of your ID card or passport. So no, you cannot buy anonymously with us.
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].
Can someone steal my cryptocurrencies?
Just like the euros and dollars you keep in your wallet, your cryptocurrencies can be stolen. To prevent this from happening it’s important to choose a secure wallet where you can store your cryptocurrencies safely. Tips for securing your wallet can be found here.
What is the minimum amount I can buy for?
Because we want to make cryptocurrency 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 cryptocurrency in general.
I want to buy cryptocurrencies for an amount larger than €25,000, is that possible?
Sure! Please contact us to learn about the possibilities. For orders above €25,000 we can also offer you a tailor-made trade fee.
Why do I have to send 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 15 minutes. Within these 15 minutes 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 coins 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 price is rallying in the 1-3 business days it takes for your payment to clear. If the bank transfer payment will not be received within three working days by BTC Direct, than BTC Direct will be entitled to cancel the transaction.
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 cryptocurrencies?
Yes, you can. We currently accept both Visa and Mastercard credit and debit card payments.
When will the money be credited to my bank account?
On business days we process multiple payment rounds. It usually takes 1-3 business days for it to be credited to your bank account.
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.
Our immediate payment methods guarantee immediate execution of your order. You save valuable time and benefit from rate increases immediately.
Active since June 2013, we use our expertise for you. All communication with our website takes place in an SSL secure environment.
We are happy to be fully transparent about our practices and fees. See our FAQ for a detailed description of our working method.
Our simple interface guarantees ease of use. Buying bitcoins has never been so easy.