Crypto
BCM: Switch to reliability after Binance leaves the Netherlands
September 6, 2023
It no doubt hasn't escaped your notice that Binance, the world's largest crypto platform, is discontinuing its services in the Netherlands. As of July 17, you can no longer invest in digital currencies through Binance, after the failure of multiple attempts to get a license from Dutch regulators. But don't worry, BCM is ready to help you transfer your digital currency to BCM.
Binance has announced that it will stop offering its services in the Netherlands as of July 17. The reason is that after several attempts, the company failed to obtain a license from the Dutch regulators. This means that from this date you will no longer be able to buy, trade crypto coins or deposit money into your Binance account. Binance is even asking its Dutch customers to withdraw their funds from their accounts.
This license is essential to legally offer crypto services in the Netherlands. Regulators grant it only to companies that can meet strict criteria, including demonstrating that they have a solid plan to prevent money laundering and financial crime. So far, Binance has been unsuccessful in convincing regulators that they meet these criteria. Compliance with these criteria ensures a level playing field between Dutch and foreign providers.
Unlike Binance, BCM does have a Dutch license from the Nederlandsche Bank. We have taken several measures, both visible and invisible, to minimize risks.
Our measures include:
At BCM, security and compliance are paramount. In the unlikely event of bankruptcy, all assets - both euros and crypto - are fully covered. This is possible thanks to our Third-Party Funds Foundation, which separates your assets from BCM's assets.
BCM is officially registered with De Nederlandsche Bank (DNB) as a provider of crypto services.
Most of all crypto is stored offline, so that in the event of a hack of our platform, it is isolated from the Internet.
You can earn additional income at BCM through on-chain staking. Currently, we offer small fees for holding crypto on our platform, funded by BCM itself. It is important to emphasize that BCM does not lend funds to outside parties. This protects us from direct consequences of any bankruptcy within another player in the crypto industry. Transparency, reliability and security are paramount at BCM.
BCM offers transparency, reliability and security, just when the crypto world seems unpredictable. Do you have questions? At BCM we are happy to help you with all your crypto questions and you will always get an answer as soon as possible. This can be done by chat, email at support@bcmtoday.com or by phone at 085 007 6000 between 9:00 - 17:00 on weekdays.
