Hi trader,
Are your crypto coins being managed by BTC Direct? And not by yourself with your own wallet, but through our Custody trading platform? Then we have important news for you.
Our Custody trading platform is closing
Are you trading crypto through BTC Direct Custody, without making use of a wallet? Then we are hereby notifying you that this trading platform will be discontinued. We will do this in a number of steps, until final closure.
But don't worry, because despite this decision there is also good news! You can now directly switch to BLOX, the #1 crypto app in the Benelux.
What’s BLOX?
BLOX is your safe and user-friendly all-in-one crypto app. Log in to the web portal or use the handy mobile app. With BLOX, you can trade crypto easily, safely and quickly. Just as convenient as you know BTC Direct to be, but now with more coins on offer, price notifications and the latest crypto news always within reach!
Switching to BLOX is not only very easy, but it also brings you many benefits:
- Access your crypto anytime from anywhere through web and mobile app
- 75 coins at your direct disposal
- Receive price notifications and the latest crypto news
- Earn weekly returns on your crypto assets
Why the decision?
To understand why we made the decision to discontinue the Custody trading platform, we’ll go back to the beginning.
Since 2013, BTC Direct has been your starting point for buying and selling crypto. All in the classic, traditional way: by using your own, external wallet through which you independently manage your coins. It turned out that, for many traders, this was not the easiest way to get started with crypto. Being fully responsible for the safe storage of your crypto coins requires quite some technical knowledge. For many, this made the threshold to get into crypto very high.
For this reason we launched a second trading platform last year, where we fully manage your coins for you. This is the Custody trading platform you are currently using, which is simple, safe and fast.
Unfortunately, the combination of our two vastly different services under one brand has been causing more and more confusion. For example about the different numbers of available coins, transaction fees or the login interface.
A new focus
However, most of the confusion around our two services arose over whether or not it is possible to send your crypto assets to other wallets or accounts. This is possible on our Classic trading platform, but not on the Custody trading platform that you use. This confusion increasingly causes frustration among our users and thereby an increasing number of questions for our support department.
We have therefore decided to bring our focus back to the service we originally became known for: the classic trading platform for fully independent crypto trading, involving using your own wallet.
How long can you still keep trading?
For now, you can keep trading with BTC Direct as per usual. In the coming months, the Custody trading platform will be gradually phased out:
- As of October 19th 2022, you will no longer be able to open a new account on the BTC Direct Custody platform. So from this moment on, you will also no longer be able to invite friends with your personal voucher code. From now on, you can sell your crypto credits completely free of transaction fees.
- As of November 7th 2022, you will no longer be able to deposit money and buy new crypto. However, you can still sell your crypto currencies and withdraw your money without transaction fees.
- You have until December 14th 2022 to withdraw all your assets and the option to transfer them into BLOX. If you migrate your assets fast, you will keep the price difference minimal between your selling and buying moment. After this date, the Custody trading platform will go offline permanently and will no longer be accessible.
We will keep you up-to-date
We will continue to provide you with the right information about the changes around your trading platform in a timely manner.
Thank you for your trust in BTC Direct. Your trading platform will change, but at BLOX you can continue trading in a familiar way: simple, safe and fast.
Does this update apply to me?
Not quite sure if this post applies to you? Here you can see whether you are using the Custody platform or the Classic platform:
- BTC Direct Custody. This is where you buy and sell crypto, which automatically stays in your account. So we take care of the management for you. This platform is going to be discontinued.
- BTC Direct Classic. Here you buy and sell crypto and send it to your own wallet. This allows you to manage your crypto entirely independently. This platform will remain and nothing will change here.