Frequently asked questions
Is your question not listed here? Please feel free to contact us.
What is BTCDirect?
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.
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.
What is a bitcoin address?
A bitcoin address is similar to a bank account. This is all you need to send and receive bitcoins. A bitcoin address has a minimum of 27 and a maximum of 34 characters. Bitcoin addresses can be created unlimitedly and they are generated with the push of a button in so-called bitcoin wallets. Creating a bitcoin wallet is easier and quicker than creating an email address. A bitcoin wallet allows you to receive and send bitcoins in a snap. We recommend starting bitcoiners to use the free online bitcoin wallet of www.blockchain.info. Further instructions on creating a bitcoin wallet can be found here.
What is a bitcoin return address?
When selling bitcoins, we ask for a bitcoin return address. Here you simply enter one of the bitcoin return addresses from your wallet. You usually find your return addresses in your wallet under the heading ‘receive money.’ In the unlikely event that something goes wrong during a transaction, we will return the bitcoins offered by you to this address. The address is therefore only a backup in case your sales order cannot be completed successfully.
What is a bitcoin wallet?
You store your bitcoins in a bitcoin wallet. There are three types of wallets: software wallets, mobile wallets and online wallets.
You install software wallets on your computer. This gives you total control over your wallet, but you do have to take care of backups and securing your bitcoins. After installing the wallet, you can generate an unlimited number of bitcoin addresses. An important part of this wallet choice is the possibility of making offline backups of your private key. This way, your bitcoins are safe in case your PC crashes. A backup is easy to make and consists of a copy of the file named wallet.dat. Copy this file to, for example, multiple USB sticks and/or SD cards. If your computer crashes, you simply copy the file wallet.dat back into the correct folder so you can have your bitcoins back.
You install mobile wallets on your smartphone. With a mobile wallet, you can take your bitcoins with you in your pocket. You can easily share bitcoins and pay in real stores by scanning a QR code, or by keeping your phone close to a register with NFC.
You can create online wallets online at various providers of this service. You store your bitcoins online and you can access them everywhere. You do not have to take care of security yourself, but it does mean that a third party manages your bitcoins. Therefore, carefully choose an online wallet from a reputable party. We recommend the wallet of blockchain.info. After creating your wallet, please take time to read the menu “Account Settings” to set the desired degree of safety.
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).
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.
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.
Why does the rate of bitcoin fluctuate so greatly?
The value of one bitcoin can suddenly rise or fall because the bitcoin economy is still very young and relatively very little money is deployed. This already allows a large number of orders to cause fluctuations in the rate. As more money flows into the bitcoin economy, it is to be expected that these fluctuations will decrease and the rate will stabilize further.
Buying bitcoins at BTCDirect: how does that work?
BTCDirect is in direct connection with the major international bitcoin exchanges and shows the current market price includes its fee in its calculator. After filling out the required number of bitcoins, you get to the order form. You choose a payment method and enter your email address and bitcoin address. To avoid surprises afterwards, you receive the amount shown on the order form from us. This way, you know what to expect in advance: what you see is what you get. The rates on the order form are refreshed every 5 seconds to keep the transaction as fair and transparent as possible.
Below, the three steps in the buying process are described briefly:
- On the home page, enter the amount for which you want to buy bitcoins.
- Enter your email address and bitcoin address and choose your preferred payment method.
- Complete your payment in the payment environment.
The bitcoins are sent to you immediately after finishing the payment; they are usually visible in your wallet within a few minutes.
Is this your first order?
Then, immediately after the payment, a one-time verification follows to prevent fraud and protect our customers. This procedure is different for the various payment methods; below, it will be explained briefly per payment.
After payment using the familiar iDEAL, a one-time verification follows for our new customers. This happens automatically and only takes 2 minutes. Your email, phone number and bank account will be verified. The bank account verification consists of an iDEAL transfer of € 0.50 to our bank account. By default, new customers receive € 0.50 extra bitcoins at the first order. Immediately after completion of the verification, the bitcoins are sent to you. You will thus receive your bitcoins almost immediately after ordering.
Bancontact / Mister Cash
Currently, there are no additional verification requirements for a Bancontact/ Mister Cash payment. To prevent abuse of your card information, we require a one-time email and text message verification. The bitcoins are sent immediately after the verification and they are usually visible in your wallet within a few minutes. If the requirements for this payment service provider are to be adjusted in the future, we will comply with this.
Bank transfer (SEPA) Mon-Fri between 10 am and 5
If you are using a bank transfer, no further verification requirements currently apply. Should the Dutch bank change its policy, we will comply with this immediately.
Selling bitcoins to BTCDirect: how does that work?
Again, you benefit from our direct connection to the major international bitcoin exchanges. If the bitcoins sent by you are visible on the bitcoin network (+/- 1 minute), we directly sell the number of bitcoins you want to sell from our own buffer. This way, we can execute the sales order shortly after your transfer so the deviation from the rate is minimal.
Three simple steps characterize the sales process:
- Enter the number of bitcoins you want to sell. The calculator automatically calculates what the current value is of the number of bitcoins you have entered. It is an accurate indication of what you would receive if we were to carry out the transaction for you at that moment.
- Then fill out your personal details and a bitcoin return address.
- After acceptance of the general terms, you send the bitcoins to the bitcoin address shown by us. Once the bitcoins sent by you are visible on the bitcoin network, we will proceed to sell the bitcoins. In general, a transaction is visible on the network after about 30 seconds, and your order will be carried out and the sale price finalized.
We make the payment no later than noon the next working day, but in most cases, we transfer money on the same day.
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.
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.
Can I also buy litecoins or other altcoins through you?
Not yet at this time. However, in the short term, you can also buy and sell litecoins though us. We closely watch the development of other altcoins. Should any of the exchanges on which we carry out your orders add an altcoin to their order book, we might follow quickly.
What fees apply?
When buying bitcoins, we apply a fee of 2%. This fee is already included in the rate on the website. The transaction costs of the payment service provider will be charged 1:1 and will clearly be indicated on the order form.
When selling bitcoins, we apply a fee of 2%. This fee is already included in the rate on the website. For urgent payments, we charge a fee of € 7.50.
I want to buy bitcoins for more than €10.000. Is that possible?
Of course. Through our website, you can place an order up to € 10,000. In addition, you may also be bound by the limits of your preferred payment method. However, if you want to buy bitcoins for more than € 10,000, please contact us.
I have not received a text message. What do I do?
After each transaction, you will receive a text message from us containing a code to verify your transaction. Please note: this text message is sent to the mobile number known to us, specified by you during your personal verification. If you have not received a text message after purchasing bitcoins, please contact us.
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.
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.