Image credit: BUX
Amsterdam-based neobroker BUX announced on Monday that it will introduce cryptocurrencies to its flagship investing app, BUX Zero, in a phased rollout to its clients in the Netherlands, Belgium, Spain, and Ireland.
At the release of cryptocurrencies on BUX Zero, there will be zero commission on the buying and selling of crypto assets.
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The news follows the companyâs recent introduction of fractional investing, which it believes is the second step in building an investment culture alongside the savings culture in the Netherlands.
Selection from more than 20 cryptocurrencies
With this development, the BUX Zero app will now allow its investors to access a 360-degree solution for building a diversified portfolio including shares and ETFs. Users will be able to invest in more than 20 cryptocurrencies including Bitcoin, Ethereum and Litecoin.
Yorick Naeff, CEO of BUX, says, âCryptocurrencies are here to stay, and we believe that for investors to build balanced portfolios, we need to be able to offer a selection of assets that are valuable for all of our clients. Bitcoin and cryptocurrencies offer innovative solutions that may prove to become a new way of hedging against a global economic crisis as well as disrupting old economic models that no longer serve the modern investor.â
According to the company, it looks to provide correct information about different asset classes to its clients through in-depth and informative content around cryptocurrencies. Besides, BUXâs clients will also have access to in-app daily news and market analysis to get a comprehensive overview of market trends and activity.
Invest in cryptocurrency with security
BUX Zero works with security platform Fireblocks to help protect its clientsâ investments using cryptographic technology, specifically multi-party computation (MPC). All communications with BUX Zero are encrypted all the way down to BUX servers, with the encryption of at least TLS version 1.2, as required by the Payment Card Industry (PCI) standards.
Besides, BUX also claims to closely monitor all traffic patterns to keep out potential malicious parties. Funds will be monitored in real time, keeping most funds in cold storage.
âDo more with your moneyâ
Founded in 2014 by Egbert Pronk, Joost van de Wijgerd, Nick Bortot, and Robbert Bos, BUX is a neobroker that aims to make it easy and affordable for Europeans to do more with their money. The company helps new generations of investors and traders discover the world of the financial markets. Currently, it has over 600,000 clients.Â
BUX offers three apps to explore the financial markets, including BUX Zero, its flagship platform that makes commission-free trading possible, allowing users to invest in the brands and companies they care about.Â
The full range of BUX products, including BUX Crypto, which allows users to invest in real cryptocurrencies, and BUX X, where users can trade in contracts for difference (CFDs), are available across Europe.
BUX acquired European social cryptocurrency investment platform Blockport in January of 2020 and launched BUX Crypto shortly after in April of 2020. With BUX Zero, the company has created a single destination for investors to build a well-balanced investment portfolio.
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