BUX Crypto Exchange
With crypto adoption, there is a need for crypto exchanges for crypto services. Another giant firm entered into the crypto circle and announced to launch its crypto exchange. Amsterdam-based brokerage firm BUX released a statement informing users about the upcoming crypto exchange.
Forex brokers are now taking interest in cryptocurrency. The BUX is a dutch retail brokerage that is known for offering trades at zero-commissions. The company, in its recent announcement, set out the roadmap for crypto exchange. According to the plan, the exchange will start working in the first week of March.
At the start of 2020, BUX acquired the Blockport, the crypto investment firm. However, it was bankrupted last year due to many challenges. Now, BUX is planning to rebrand the acquired firm along with its token. The token of Blockport BPT will be renamed to BUX (BUX). As the statement reads:
‘’As BUX and Blockport both share a similar vision in community & social-driven investing, our product development strategy will be geared towards building unique and exciting features that bring beginners and advanced investors together to learn from each other.’’
Features of Crypto Exchange
BUX is launching its crypto exchange with unique features such as zero-commission on trades, a wide range of payment methods for deposits and withdraws, and mobile phone access along with desktop compatibility.
There will be six cryptocurrencies available for trading at the start. These include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), and BUX (BUX). Currently, they are including the residents of 23 European countries for crypto services.
On BUX’s crypto platform, the first users will have benefits as they can trade without any commission rate. Moreover, they will be able to earn the broker’s native tokens. Normally, the commission rate is 0.5% per trade. But, this offer is limited to the first 5,000 users.
‘’In the coming month, we will focus on getting the new platform launched and running smoothly, as well as on-boarding newcomers and existing BUX customers. During this period we are dedicating time and resources to scoping the community features we will develop this year.’’