BTC Direct Experience - The Crypto Exchange Review

Overall Rating: 
5/5 stars

Quality

speed

cost

BTC Direct is one of the best-known exchanges for digital currencies, located in the Netherlands. The priorities that BTC Direct itself has described as extremely important are security, reliability and speed.

The exchange currently supports the purchase and sale of Bitcoin, Bitcoin Cash, Litecoin, Ethereum and Ripple. Due to the fact that BTC Direct not only accepts transactions via bank transfer, but also provides PayPal and also offers the payment methods credit card and instant transfer, there are various ways available here, so that every customer will probably find the payment option that suits them.


It is also important to the operators of BTC Direct that a trading platform is made available, so that in the end bitcoin - like other cryptocurrencies - is integrated into the middle of society. Because BTC Direct is also about giving bitcoin a new image. Even if one might think that cryptocurrencies - first and foremost the Bitcoin - are no longer constantly associated with criminal activities, there is still a lot of misinformation on the net.

But it is also about providing a reliable as well as stable platform. Since there are more and more providers, it is important to make a comparison - this is not only about the question of whether it is a reputable platform, but also about any fees as well as the available offer. Was BTC Direct able to meet the self-imposed requirements so that the platform can be recommended or is it not a noteworthy crypto exchange?

BTC Direct at a glance

Key data

BTC Direct

Functions

Easy

verification

Yes

Business accounts

Yes

Cryptocurrencies

5

Payment methods

SEPA, credit card, eps, SOFORT, giro

fees

Trading fee 2%, 1.9-3.5% depending on the payment method

Target countries

33

Payout

SEPA

Is BTC Direct secure?

At first glance, BTC Direct seems to be not only about transparency, but also about user-friendliness.

Security at BTC Direct

Furthermore, it is also important to the operators that the platform is at the cutting edge of security technology. Part of the security standard is formed by the so-called 2-step verification by SMS. In addition, various security measures are taken to ensure that no third party can access the customers' data. Because hackers always attack when they notice weak points.

Data transmission takes place exclusively via SSL encryption; in addition, BTC Direct works with the latest anti-spyware as well as virus scanners. In addition, it works with independent servers, some of which are separate from each other. Furthermore, extensive backup systems ensure that the data can be stored securely.

Due to the fact that the coins are traded via the platform and are not stored in a digital wallet, the security measures taken can be considered quite sufficient.

At this point, it can also be said that BTC Direct is a recommendable service provider in the field of crypto trading - you don't have to be afraid of any fraudulent activities.

By the way, BTC has been around since 2013, and since there have been no negative headlines so far, it can be assumed that it is a reputable platform.

Dorsey stressed that

The BTC Direct website

True to the Dutch colours, the user-friendly website has a blue design and is even available in several languages such as GEnglish, French and others. The trader can choose his own region on the website.

Apart from this banality, we can give the website good marks in terms of functionality and design.

DirectThrough the crypto exchange, which is also available, you can buy as well as sell various cryptocurrencies, such as:

  •     Bitcoin,
  •     Ethereum,
  •     Bitcoin Cash,
  •     Ripple or
  •     Litecoin.

    Furthermore, you can find information about the respective prices, access the latest news and take a look behind the scenes on the homepage - i.e. find out who is behind BTC Direct and what plans are being pursued.

    BTC Direct advertises on its homepage that the coins will be sent two minutes after the order has been authorised. In most cases, this information is also true. However, BTC makes no secret of the fact that there are always special cases that make immediate transmission impossible.
The BTC Direct website

If one of the following scenarios occurs, the transmission will be delayed:

The first order: in this case, the order must be confirmed manually; if the first order is also placed outside opening hours, it sometimes takes longer for the coins to be credited.

Missing documents: The verification of the account is not yet complete - in this case, an email has certainly been sent in which it is broken down which documents are still missing and must be sent to BTC Direct.

Paid by bank transfer: If you have made a bank transfer, BTC Direct will wait and only react after the money has arrived - this means that the coins will only be credited once the transaction has been completed.

The order exceeds the purchase limit: BTC Direct will - depending on the selected payment method - set a "Cooldown Period" that lasts 48 hours. No transactions can be made during this time.

Note: By the way, before trading can take place, the account must first be activated. Therefore, in the course of the registration process, the email address and also the telephone number must be verified. In addition, a picture of the passport or identity card (front and back) must be scanned and sent to BTC Direct.

BTC Direct crypto or direct trading

BTC Direct offers the possibility to trade with five cryptocurrencies. Unfortunately, unlike other providers such as eToro, trading CFDs is not possible via this platform.

Those who care about speculative trades and want to invest in the performance of cryptocurrencies are not well served by BTC Direct. 

BTC Direct Fees


If you look at the different platforms through which you can trade digital currencies, you will of course also have to deal with the question of what fees apply. With some companies it may well be the case that you don't even know how high any fees are - sometimes there are complicated calculations, so that in the end you often don't even know why additional costs have arisen. BTC Direct, however, has chosen a different approach - transparency seems to be very important to the operators of the platform.

The costs incurred by BTC Direct are clearly broken down in the FAQ section. This means that here you can find an overview of which fee applies to which digital currency.

BTC Direct Fees

currency

Sales orders

Purchase orders

Bitcoin

1 percent

2 percent

Litecoin

2 percent

3 percent

Ethereum

2 percent

3 percent

Bitcoin Cash

2 percent

3 percent

Ripple

2 percent

3 percent

The average value is therefore 2 percent for sell orders and around 3 percent for buy orders. If one compares BTC Direct with other platforms, one will come to the conclusion relatively quickly that it is a rather favourable exchange.  The price-performance ratio is therefore extremely good.

Comparison of fees with other providers


BTC Direct

eToro

Libertex

Coinbase

Deposit

depending on the payment method

free

free

3.99%

Purchase fees

2 - 3%

1.9%

3.08%

1.49%

Sales charges

1 - 2%

1.9%

3.08%

1.49%

Holding fees

no

no

no

no

Payout

free

$ 5

free

$ 0.15

Minimum deposit and transaction limit

The minimum deposit is ten euros. There is also a transaction limit. Traders can purchase cryptocurrencies with a maximum value of 1,000 euros per day. BTC Direct has set this limit in order to be able to guarantee the trader's security.

Higher sums can be traded after consultation with the customer support. However, the transaction limits vary depending on the payment method. There is an overview of the transaction limits in the personal account.

It should be noted, however, that fees also apply if you choose the payment method bank transfer, for example. In this case, BTC Direct imposes a processing fee of 2.50 euros per transaction. The provider also makes sure that this fee remains transparent - in the FAQ section you will also find information that payment methods can also incur fees.

    Don't worry: customers who don't look at the FAQ section beforehand will of course also be informed that charges apply - the information follows before the bank transfer is confirmed. So you don't have to be afraid of unpleasant surprises.

Recommended alternative to BTC Direct: eToro

 If you want to buy Bitcoin quickly, we recommend the broker eToro. In addition to a clear user interface, state regulation and copy trading, the big advantage of the platform is that both Bitcoin CFDs and real Bitcoin are available for trading. Moreover, with ~1.8% total costs, eToro also proves to be the top dog in terms of price.

  • Stock exchange and wallet in one
  • Regulated provider
  • Deposit with PayPal, credit card, SOFORT transfer and more
  • Over 14 other cryptos tradable
    Equities and ETFs also available

Which deposit and withdrawal options are accepted?

An advantage is the fact that an extremely large number of payment methods are available:

    Classic bank transfer,
    credit card,
    PayPal,
    instant bank transfer


At this point, it can be mentioned that the crypto exchange offers a good mix of classic and established payment methods and newer variants. Especially because the payment methods instant bank transfer or PayPal have the advantage that bookings are usually credited immediately - the customer does not have to wait two to four working days, but has immediate access to the money.

Investous - User friendlinessd

BTC Direct registration: step by step guide

You can buy and sell cryptocurrencies via the BTC Direct platform; however, it must be mentioned at this point that you cannot store coins via the portal.

It is therefore 100 per cent an exchange that does not provide a digital wallet. This means you need a wallet from a third-party provider. It should also be noted that the service can only be used within the SEPA area.

Since BTC Direct is not available to everyone, we will explain how to register with eToro at this point:

Step 1: RegistrationRegistering with BTCDirect

In the course of the registration process, an email address and a telephone number must be provided - here you should definitely stick to the truth, because you will receive an email address at the address provided.

In the e-mail sent by eToro there is a link to be clicked on to confirm the account opening.

Step 2: VerificationBTCDirect experience

If you wish to trade with more than 2,000 euros, you must confirm your identity. All trades below this amount can be carried out without verification. If any documents are missing, the user will be notified. If you receive an e-mail stating that any documents for verification are missing, you should definitely react.

Step 3: The deposit

Now you can either test your strategies in the free demo account and get to know the platform better or go directly into real money trading. Of course, you first have to fund your account.

The minimum deposit amount at eToro is 200 euros. This amount can then of course be used for trading. A variety of deposit methods are available, such as credit card, PayPal, instant transfer or SEPA payment.

Once the money has been transferred to your eToro account, you can start trading immediately and buy the cryptocurrency of your choice.

BTC Direct customer support

Due to the fact that cryptocurrencies are still a fairly new matter, questions can always arise. If you compare the customer service of BTC Direct with its competitors, you will come to the conclusion relatively quickly that the provider is already quite far ahead - because there is not only an email address, but also a telephone hotline and a live chat.

The employees of BTC Direct are available to customers from 9 a.m. to 10 p.m. (Monday to Friday) and from noon to 5 p.m. (Saturday and Sunday).

If you do not have a problem that can be solved quickly and can sometimes wait a few hours for an answer, you can contact the staff by e-mail. As a rule, the e-mail is answered within 24 hours.

Bitcoin anonymously

What are the BTC Direct experiences like?

It is not only independent test reports from renowned rating portals that are important, but of course also the users' experience reports, which can be found easily and also relatively quickly on the World Wide Web.

    In the case of the BTC Direct experience reports, it is noticeable that there are almost only positive comments from users. However, if one takes into account the offer provided and has considered the question of whether it is a reputable provider, the positive reports come as no surprise.

With 7,439 reviews currently on Trustpilot, the BTC Direct rating has an average of 4.6 out of 5 stars. 70% of users have given the platform the highest rating. Here are a few reviews:

Roland Reuther wrote on 27.12.2020:

"Everything works pippifeinst :-)."

Alexander BΓΆhm, who left a review on 17.12.2020, also had a good BTC Direct experience:

"I really enjoy working with BTC Direct. It is simply fun. Thank you."

And Stepan Gaar wrote on 25/12/2020:

"Am very satisfied with the app."

Is there a BTC Direct app?

One thing first: there is not yet a real BTC Direct app. However, mobile access to BTC Direct is possible via the browser of a PC, tablet or smartphone. Nevertheless, this can be seen as a small disadvantage of the BTC Direct experience, because especially in trading, where it is important to be able to react quickly to price fluctuations, well-functioning apps are irreplaceable.

Deposit and withdrawal

Is it a BTC Direct scam?

BTC Direct is a reputable provider and offers high security standards. The fees are somewhat higher than those of the competition, but they are still low compared to banks. In addition, the costs are presented transparently on the platform.

Investous - Customer Supportd

BTC Direct advantages and disadvantages at a glance


Finally, of course, there are the various advantages and disadvantages. At this point, it is fair to say that the advantages outweigh the disadvantages.

Pros

  •    A very good offer is presented.
  •     The coins are credited within 120 seconds, provided a payment is made with an already verified bank account.
  •     Moreover, the employees are not only available via the contact form - it is also possible to contact a BTC Direct employee by phone or via live chat.
  •     Furthermore, BTC Direct is also convincing when it comes to fees - on average, they are just 2 percent for sell orders and 3 percent for buy orders.

Cons

  • The wallet must be used by a third-party provider - BTC Direct does not provide a digital wallet.
  • Not available
  • Only 3 other cryptos tradable besides Bitcoin
Licence and security

Good platform with a big disadvantage

BTC Direct has a transparent and customer-friendly platform through which you can invest in various cryptocurrencies. A big plus here is above all the transparency, since you know from the start whether fees are incurred and if so, how high they are. In addition, BTC Direct is also convincing in the area of customer support.

    However, although it is a reputable platform, BTC Direct also has a decisive disadvantage: unfortunately, the provider is only available in Austria and Switzerland.

For our readers we therefore recommend a provider that can be used from anywhere and that also has even better functions: eToro. This platform is now one of the most popular worldwide and impresses with its ease of use, social trading function and high number of tradable assets.

Recommended alternative to BTC Direct: eToro

 If you want to buy Bitcoin quickly, we recommend the broker eToro. In addition to a clear user interface, state regulation and copy trading, the big advantage of the platform is that both Bitcoin CFDs and real Bitcoin are available for trading. Moreover, with ~1.8% total costs, eToro also proves to be the top dog in terms of price.

  • Stock exchange and wallet in one
  • Regulated provider
  • Deposit with PayPal, credit card, SOFORT transfer and more
  • Over 14 other cryptos tradable
    Equities and ETFs also available

FAQ

Are there transaction limits with BTC Direct?

The trader can purchase cryptocurrencies with a maximum value of 1,000 euros per day. Higher sums can be traded after consultation with the customer support. However, the transaction limits vary depending on the payment method.

Can I trade cryptocurrencies with BTC Direct?

Yes, BTC Direct offers trading in five cryptocurrencies. However, trading with CFDs is not possible on this platform.

Does BTC Direct have an app?

There is not yet a BTC Direct app. However, mobile access to BTC Direct is possible via the browser of a PC, tablet or smartphone.

Is BTC Direct more reputable?

Yes, BTC Direct is a reputable provider and offers high security standards.

What could speak against BTC Direct?

The lack of an app and the impossibility of trading CFDs via BTC Direct, the absence of an award - these are all reasons that do not speak in favour of BTC Direct. The fees are also slightly higher compared to other platforms like eToro and therefore unfavourable.

Hi, my name is Benzion. I have twelve years of experience in the Forex industry, and I have launched two successful crypto trading services. I have in-depth experience on several blockchain networks like Bitcoin, Etheruem, EOS, Cardano, Hyperledger, ICON, Komado, etc. I also have in-depth knowledge of blockchain techniques, including various consensus mechanisms, DLT, smart contracts, security, and privacy measures. Benzion Friedman