Last week it was announced that major Austrian crypto exchange Bitpanda was leaving the Netherlands. Today is the last day that Dutch customers can trade crypto there. However, there are still a few weeks left for users to switch to another exchange.
Bitpanda recommends Dutch customers to transfer crypto assets to Bitvavo, the largest crypto exchange in our country. All new users can now also benefit from an attractive welcome bonus. New customers receive 10 euros in free credit using the button below.
Get 10 euros for free
Start with crypto for free 📈: Today Bitvavo is giving all Dutch people €10 free crypto of their choice 🚀. Register today 🚀
Crypto exchange Bitpanda is closing its doors in the Netherlands
The withdrawal of Bitpanda, founded in 2014, most likely has everything to do with the lack of a crucial registration with De Nederlandsche Bank (DNB).
DNB is responsible for regulating and supervising financial institutions in the Netherlands. This also includes providers of crypto services. A so-called Virtual asset service provider (VASP) license is essential to operate as a crypto exchange in our country.
“We are currently concentrating on our core markets. “The Netherlands is not currently one of our core markets,” said Bitpanda’s announcement email.
Note to Bitvavo: Withdraw crypto before February 26th
As mentioned, Bitvavo was proposed as an alternative for existing Bitpanda customers. In contrast to Bitpanda, Bitvavo is registered in the DNB commercial register. Bitvavo acquired registration at the end of 2020.
However, the initiative for switching to Bitvavo lies with the customers themselves. So there is no automated process that takes care of everything. February 26th is the very last day that customers can transfer their assets.
After signing up with Bitvavo, navigate to the specific cryptocurrency you want to deposit with Bitpanda. Navigate to “Deposit”, select the appropriate network and copy the wallet address shown. Then add this Bitvavo deposit address into your Bitpanda account where you can send your coins.
Tip: After inserting the deposit address, always check whether it is still the same.
Of course, you can also sell your digital assets or transfer them to another exchange.
It is not the first major foreign exchange to leave our country. Last year, both Binance and Gemini also cut ties with the Dutch market. The latter also sent all Dutch customers to Bitvavo. In a response to Crypto Insiders, Bitvavo said:
“Bitvavo warmly welcomes Bitpanda’s Dutch users. Earlier this year, Bitvavo acquired the Dutch users of LiteBit and Gemini and also welcomed tens of thousands of Binance customers after they left the Dutch market. This fits well with our goal of becoming the largest regulated crypto exchange in Europe,” says Berend – Head of User Acquisition
🎁 Start the new year well: €10 free crypto of your choice
10 euros free crypto at Bitvavo
Bitvavo rewards new users with an interesting welcome bonus of 10 euros, which you can then spend on any cryptocurrency on the platform. That’s roughly equivalent to 19.72 ADA or 18.96 XRP! This makes switching from Bitpanda to Bitvavo a little easier and more interesting, but crypto investors who are not Bitpanda customers can also benefit from this promotion.
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