Bitdenex exchange launches its redesigned crypto trading platform today, September 6, 2021. According to a tweet on September 1, Bitdenex exchange has been registered with the Dutch Central Bank and the renewed platform will go live today. Update: Bitdenex eventually went live on September 8.
The company Bitdenex BV was founded in Almere on 14 February 2019 with two directors. In the meantime, the following director changes have occurred:
18-02-2019: New entry: As of 14-2-2019, Director Dennis Ritesh Soemai has taken office.
10-08-2020: Change: As of 1-8-2020, Director Conradus Petrus van Gogh has taken office.
13-08-2020: Change: As of 1-8-2020, Director Pamela Kristel Held took office.
25-11-2020: Change: As of 23-11-2020, Director Conradus Petrus van Gogh resigned from office.
At the time of writing, Bitdenex exchange is the newest and youngest crypto trading platform that will operate from the Netherlands. The trading platform was already operational in 2020, but the DNB threw a spanner in the works due to the new rules and requirements to regulate the crypto market in the Netherlands. Since Bitdenex exchange did not meet the requirements of the DNB, the crypto platform had to temporarily stop its operations and went on hold. Today it is finally here and Bitdenex can compete with the many crypto providers in the Netherlands and abroad. But aren’t they late to the crypto party? And how will they distinguish themselves from its Dutch competitors?
Interested? Go to exchange.
Like Bitvavo and BL3P, Bitdenex is a crypto exchange platform with its own order books where cryptocoins and tokens can be traded against EUR (€) pairs. The orders are processed at the Bitdenex exchange itself and not at ‘bigger’ exchanges like Binance or KuCoin. Besides Bitvavo, brokers like Coinmerce, Bitladon and Knaken are also competitors, but they process the orders at larger exchanges making them slightly more expensive than exchanges.
“Bitdenex is a company with a passionate team. We work hard to make trading in cryptocurrency easy.”
At Bitdenex exchange, you easily deposit your euros via iDEAL to exchange them against the crypto of your choice. They offer, like Bitvavo, a simple design to trade for beginners and an advanced design for advanced traders. In addition to the ability to trade crypto, Bitdenex will be launching more products such as margin trading and a lending platform in the near future. If these options are launched, Bitdenex will become more like Binance and in terms of options it has the potential to become bigger than Bitvavo.
The trading platform handles a “know your customer” (KYC) policy, partly due to the requirements of DNB. The regulations and the requirements of it are necessary according to the Dutch government to monitor customers of Bitdenex exchange for terrorism financing and fiat money laundering (WWFT). Due to the requirements of the DNB, to comply with KYC rules, Bitdenex exchange had to temporarily pull the plug on its platform in November 2020. Since the ‘pause’, the exchange has been working hard on its trading platform and the requirements of the DNB. On August 16, 2021 the time had come, Bitdenex BV was registered with the DNB and will reopen its doors on September 6, 2021.
Source: DNB.nl
What differentiates Bitdenex exchange from its competitors? It is not (yet) the amount of crypto offerings, there will be an app for iOS and Android, trading will be made as simple as possible and there will be more services than just trading. It seems that the exchange from Alkmaar offers the same as its competitors. But nothing is less true. The secret of Bitdenex exchange is in the transaction fees or trading costs. Bitdenex has extremely low fees of 0.15% and no complicated taker & maker fees. That’s 0.10% lower than Bitvavo’s cheap transaction fees of 0.25%.
“We aim to apply the lowest trading fee for all traders and investors no matter what your trading volume is. Everyone should benefit from our Low Fees.”
For now, there will be no discount when you trade larger amounts. It is and will remain 0.15% on buy and sell orders.
At the moment, it is not clear exactly which cryptocoins Bitdenex will be supporting in the future. In order to compete with Bitvavo, they still need to start adding a lot of crypto, as Bitvavo expanded its offerings considerably in August and September. Bitdenex exchange offers the following cryptocoins and tokens and markets:
On the website of Bitdenex exchange we noticed something remarkable. At the offerings it displayed also Coindenex token (CDNX). Coindenex token (CDNX) is the native token of Coindenex, which is also a crypto trading platform, like Bitdenex. Are the two exchanges connected? Are they the same, but a different name? Here’s what we know.
Coindenex LLC, unlike Bitdenex BV, is not registered with the DNB and is therefore not allowed to operate in the Netherlands. Nothing can be found about Coindenex LLC as a company when we consult the SEC database. LLC is the American company legal form which is equivalent to the Dutch BV. Both websites show similarities in design and content. Even if you want to contact them via Whatsapp, the number 061121822 is available on both websites. Most likely both websites and platforms come from the same owner and it is to be expected that Coindenex will go offline, where Bitdenex will become the official trading platform since it is registered with the DNB. Or Bitdenex will be a Netherland only platform, where Coindenex will be the international platform where Dutch citizens are excluded. Whether the Coindenex token CDNX will undergo a rebrand to Bitdenex token BDNX remains to be seen. In any case, both are not yet listed on Coingecko and Coinmarketcap.
CoinCompare shall investigate in the future whether Bitdenex exchange shall be added to our price comparison platform.
