BTCDirect Review – is it scam or safe?

BTCDirect Review – is it scam or safe? explained by professional Forex trading experts the “ForexSQ” FX trading team.

BTCDirect Review – is it scam or safe?


BTCDirect is a Dutch company providing an entry to the world of cryptocurrencies. That being said they do not advertise themselves as an “exchange”, but as a “broker”. We find this to be quite accurate, given their service. The different levels of identification provided by the company only have an impact on your daily order limits, while better fees are negotiable for bigger sellers.

The company, security of funds

The Netherlands has always been an innovative nation, when it comes to finance. The crypto-space is no exception, with BTCDirect, being one of based there.

As we mentioned in the beginning, this is more of a service, than an exchange, like Kraken, for instance. No trading platform is provided and the company does not even offer wallets or holding your fiat. All the company does is allowing you to buy or sell coins and send/receive fiat currency, which reminds us of and their Australian counterpart CoinTree.

That being said, they provide a lot of information for beginners. Useful links to information about the security of wallets, which is crucial for those of you who are used to dealing with traditional banking or forex brokers.

We weren’t able to recall or find a trace of a major hack, suffered by BTCDirect. While this is due to the nature of their service – simply transfering funds to sellers, who send coins to the buyers wallet, one can never bee to cautious, when it comes to security in the cryptoverese. Of course, a lack of negative history is always better than having a bad track record.

When looking at the user reviews on BTCDirect are generally very positive. The few negative ones regard the high fees. That being said, literally the first line in the General Terms and Conditions of this company reads:

“You are aware that the value of cryptocurrencies such as inter alia bitcoin and litecoin can fluctuate strongly and that no guarantee whatsoever can be issued for the value of cryptocurrencies at any time.”

Trading conditions

Trading instruments (cryptocurrencies)

The coins which one can purchase or sell at BTCDirect are Bitcoin, Litecoin and Ethereum. Some may feel limited by this pool, but keep in mind this is an entry-level company. If you wish to trade more exotic coins you can check other exchanges, like Bittrex.

Daily order limitations

While BTCDirect provides access to the crypto-space, this does come with some AML measures. The volume limitations mentioned in the beginning seem reasonable, with having to personally contact the company via video call being required for the final level. At that point you would more or less become a “broker” at this “exchange”


It should be obvious by now, that BTCDirect does not provide trading on margin – this is simply a firm, which connects willing buyers and sellers of cryptocurrencies.

A good thing to ask yourself will be, why do I need Bitcoin? If you are only looking to speculate in the short term, a forex broker, which offers Bitcoin trading, like XM, may be a good alternative. We must note, trading with such a company involves dealing in the so called Contracts for Difference (or CFDs), which only mimic the price of the underlying crypto. There are a few more specifics, which we have explained here.


While there is a lot of clarity on the main fee, we didn’t manage to find a detailed description of the rest. After tinkering with the platform, we saw a maximum of around 4.5%, which included the banking fees (on their end). Your local bank may also apply a fee for sending the payment.

Trading platform

The entire “platform” provided by BTCDirect is basically an order placement form. Once you designate an amount of Euros you are willing to send in order to purchase one of the offered cryptos, you have to make the transfer. While traders will dislike the total lack of a price chart, this is nothing troubling. Again, this company will simply connect you with a seller. If you are looking for a more advanced piece of software, maybe try Bitstamp.

Methods of payment

The methods of payment at BTCDirect include: Bank Transfer, Credit Card, iDEAL, GiroPay Sofortbanking and Bancontact. This is a solid line-up, featuring a lot of instant methods, which is crucial given the volatility in the crypto-space. The inclusion of Skrill or Netteler, which are popular among traders will be much appreciated.

Wen selling coins, one must provide a Bank account which will be credited, after the transaction is complete. Keep in mind bank transfers may take several days.

BTCDirect Review – is it scam or safe? Conclusion


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