Bitonic offers Bitcoin trading with a default 1.0% fee on the BL3P platform. The exchange supports the Lightning network and various payment methods, including iDEAL (Free of charge) and Bancontact (0.5% deposit fee).
Bitonic; Introduction to the First Bitcoin Company in the Netherlands
Bitonic B.V. was founded on 1st May2012 by Niels van Groningen and Robert de Waard.
Previously known as iDealCoin, the company is registered with the Dutch Central Bank (DNB). Bitonic won the Dutch Fintech award in the Bitcoin category in 2015. Key features of Bitonic:
- Bits automated Bitcoin savings plan
- nl educational platform
- BL3P professional Bitcoin exchange
- Support for the Lightning Network
Bitonic Exchange Table of Specifications
The crypto exchange offers various services, including an OTC desk for high-volume traders (100K+) and the Bitonic Academy, which is in partnership with the Netherlands Ministry of Finance.
Exchange | Bitonic |
Launch Date | 2012 |
Levels | No |
Trading Fees | 1.0% |
Restricted Countries | North Korea, Iran, Syria, Libya, Somalia, South Sudan, Yemen, Democratic Republic of the Congo, Central African Republic, Eritrea, Guinea-Bissau, Iraq, Lebanon, Mali, Sudan, Russia, Belarus, Myanmar, United States |
Supported Coins | 1 |
Futures Trading | No |
Minimum Deposit | €10 |
Deposit Methods | iDEAL, Bancontact, SEPA, Bitcoin |
Withdrawal Methods | SEPA, Bitcoin |
Maximum Leverage | 1:1 |
Minimum Trade Size | €10 |
Security Factors | Self-Built Infrastructure, Segregated Accounts, Cold Wallets, Multi-Signature Wallets |
Services | Savings, Bitcoin.nl, Academy, OTC Desk |
Customer Support Ways | Email, Ticket, Telegram, Twitter, Call Center |
Customer Support Hours | 09:30 until 20:30 and during the weekend from 10:00 until 18:00 (GMT+2) |
Fiat Deposit | Yes |
Affiliate Program | Yes |
Orders Execution | Market |
Native Token | No |
Bitonic Exchange Pricing
Creating and maintaining an account on the platform is free of cost. Key points about Bitonic's fee structure:
Trading | 1.0% |
Bitonic Savings | 0.89% + €0.13 |
Instant Buy (iDEAL) | 0.99% + €0.56 |
Instant Buy (Bancontact) | 0.99% + €0.62 + 0.36% |
Instant Sell (SEPA) | 1.24% + €0.25 |
The exchange features an OTC desk for large trades (over €100,000). The OTC fees vary based on the order size:
Order Size | OTC Fee |
>= €200,000 | 0.9% |
>= €350,000 | 0.8% |
>= €500,000 | 0.7% |
>= €750,000 | 0.6% |
>= €1,000,000 | 0.5% |
>= €2,500,000 | 0.4% |
>= €5,000,000 | 0.3% |
While the platform charges no commissions on Bitcoin transactions, users must pay a network fee for withdrawals.
Available Digital Assets on Bitonic
The company is a Bitcoin-only exchange, which means it focuses solely on Bitcoin (BTC) trading against the euro (EUR).
This specialization allows Bitonic to provide deep liquidity and expertise in Bitcoin trading, but it may not be suitable for users looking to diversify their cryptocurrency portfolio.
Leveraged Trading on Bitonic
At the time of writing this Bitonic review, the exchange does not offer leveraged trading options. The maximum leverage available on the platform is 1:1, which means users can only trade with the funds they have deposited.
Bitonic Exchange Registration and Verification
To start trading on Bitonic, users must be above 18 and complete a Know Your Customer (KYC) verification process.
- Visit the exchange’s official website;
- Click “Create Account”;
- Verify your email address and phone number;
- Provide supporting documents, including proof of ID (passport or national ID), proof of residence (utility bill or bank statement), and proof of income (annual income statement).
Bitonic Safety and Security
The exchange has built its infrastructure with servers in the Netherlands, ensuring privacy and protecting data from foreign regulations. Bitonic security measures:
- Two-factor authentication (2FA)
- Multi-signature and cold storage
- Segregated user funds
- Regulatory compliance (Registered with the Dutch Central Bank)
Bitonic Funding and Withdrawal
The exchange supports EUR and Bitcoin payments and processes them via various channels, including:
Payment Method | Deposit Fee | Withdrawal Fee |
iDEAL | None | Not Available |
Bancontact | 0.5% | Not Available |
Manual SEPA | None | Not Available |
Easy SEPA | 0.5% | Not Available |
Bitcoin | None | Not Available |
EUR (Bank Transfer) | Not Available | None |
Bitcoin | Not Available | Network fee |
Bitonic Exchange Ratings
The Bitonic Trustpilot profile has received excellent feedback with a score of 4.2 out of 5. The exchange is also featured on Google Reviews and has a good score.
Trustpilot | 4.2/5 based on 188 reviews |
Google Reviews | 3.7/5 based on 113 comments |
58% of Bitonic reviews on TP are positive (4-star and 5-star), and only 38% are negative (1-star and 2-star).
Does Bitonic Offer Investment or Growth Plans?
While Bitonic doesn't offer traditional investment or growth plans, it does provide a Bitcoin Savings program that can help users accumulate BTC over time.
Bitonic Savings is an automated Bitcoin savings plan that allows users to purchase small amounts of Bitcoin regularly (daily, weekly, or monthly) with a minimum requirement of €5.
The exchange also features a referral program that rewards the affiliate and the new user with €10 in Bitcoin.
Final Words
Bitonic provides BTC instant buy and sell services with a (0.99% + €0.56) fee for iDEAL buys and a (1.24% + €0.25) fee for SEPA sells. The exchange doesn’t accept US clients. It has a 4.2 out of 5 rating on Trustpilot.