This review of cryptocurrency exchange BTC Direct was created for informational purposes. Going through this review will help you decide if BTC Direct is an exchange that fits your needs.
Table of Contents
What is the history of BTC Direct?
BTCDirect was founded in 2013 and is based in Nijmegen, the Netherlands. Since then, BTC Direct has continued to develop at quite a pace and is now one of the most well-known providers of cryptocurrency in the Netherlands.
At BTC Direct you can both buy and sell cryptocurrency, which is quite unique in the industry. It’s possible to do so using iDeal payments, credit card and/or wire transfers, which makes the purchase process very easy. When using a wire transfer it can take two days before you will receive the cryptocurrency.
What cryptocurrencies are available on BTC Direct?
At BTC Direct you can purchase five different cryptocurrencies. The cryptocurrencies offered by BTC Direct are: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), BitCoin Cash (BCH) and Ripple (XRP).
What are the fees and other charges on BTC Direct?
BTC Direct also charges buying and selling fees just like any other broker. Brokers apply different buying and selling fees than exchanges. BTC Direct charges a mark-up between 2 and 3% on cryptocurrency purchases and a mark-up between 1 and 2% on sales transactions. This fee is already included in the price, which is why the price may differ from the price at other brokers and exchanges.
Should you want to read more about how the price of cryptocurrencies on BTC Direct is determined, you can find that info here.
Where do I find BTC Direct support?
BTC Direct has a very extensive help section where you can find a lot of information. BTC Direct also has an extensive knowledge base where you can find a lot of information regarding cryptocurrencies and the blockchain industry.
If the help section or knowledge base doesn’t answer your question, you can contact BTC Direct via chat or phone. Here you will always be helped within a few minutes and the service is excellent.
Is BTC Direct a safe exchange?
The security measures BTC Direct has in place to protect its investors digital currency and data are good. However, BTC Direct does not have a built-in Bitcoin or altcoin wallet. So it is important that you already have a wallet where the cryptocurrencies can be sent to. The most secure option to store your cryptocurrencies is a hardware wallet.
If you want to trade directly with the purchased cryptocurrencies then it is better to send them to an online wallet.
What are pros and cons of BTC Direct?
Like any other exchange, BTC Direct has advantages and disadvantages. See the table below for their strengths and weaknesses:
Easy and fast purchase options
Discounts for larger purchases
Small selection of cryptocurrencies
No wallet functions
BTC Direct is a Dutch broker that makes it very easy for the novice and experienced investor to convert euros into cryptocurrency or vice versa. The platform is fast, very user-friendly and making purchases is largely self-explanatory. In addition, many brokers and exchanges can suck a tip from BTC Direct’s excellent customer service.