Hi CoinCompanion, welcome to this new buzz. Bitcoin reached again an enormous height since June 2019, with an increase of almost 30% in October ! LiteBit is starting its own blog and after 2019, LiteBit has again won the Cash Cow Award for best Crypto Broker. Coinmerce takes on a new look. DNB news with the first provider in the Netherlands with a DNB registration. And Bitladon takes over the 1st position of Knaken!
Further more in this month’s Buzz of October, CoinCompare, monthly Throwback, Crypto listings, the top 5 ups and downs and of course, as always the recurring Best deal provider of the month announcement!
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According to the new crypto laws in the Netherlands, imposed by the DNB, each provider operating in the Netherlands must ensure that each customer has completed an identification verification before they can buy and sell crypto. This registration also includes that your crypto wallet address is really yours. The reason behind these changes is the ‘know your customers’ (KYC) policy under the law of the Money Laundering and Terrorist Financing Prevention Act (Wwft in Dutch). According to the DNB newsletter of 21 October, 53 applications from providers have taken place as of 21 May 2020. At present, only 38 of these 53 applications for DNB registration are still pending. A number of providers including BitKassa, Bitqist and Bitrush have terminated the process because the costs of the DNB registration and supervision are too high or because too much restructuring is needed within the company to meet the requirements of the DNB.
AMDAX reported that they were the first provider to successfully complete the DNB registration. Other providers will follow shortly. Those who were already active before 21 May 2020 and submitted a registration application may continue their activities without registration until 21 November 2020 or earlier if a decision on the registration application has been made. Read more about the article here (Dutch). In addition to the rule of verifying identification, the DNB also imposes that all providers must remove privacy related crypto from their portfolio and may not offer it in the future.
A few providers on CoinCompare are almost ready to be registered at the DNB. We noticed by news reports that these providers oblige their current users and new future users to register in a fully identifiable manner. Just an e-mail address and a bank account verification is no longer sufficient. The bottom line is that if you have an account without verified identification, your account shall be frozen. So make sure you are there in time to verify if you still have crypto and funds in your account. The following providers use the following deadlines:
LiteBit: identify before November 1, 2020.
Knaken: identify before November 13, 2020.
Coinmerce: identify before November 21, 2020. Promotion: complete identification before November 4, 2020 and receive € 7.- in Coinmerce Coins .
Anycoin Direct: identify before n.a. Expected before November 21, 2020.
Other providers: n.a.
Attention! Since some providers still offer privacy crypto’s, we expect that these will be removed from their portfolio as soon as possible. Make sure you sell or trade them in time or move them to a provider that operates outside the Netherlands.
At CoinCompare we like to indicate what we are working on and what developments and updates are coming up. We think it’s important to give you, as a visitor, a glimpse into our kitchen, so that you know what we’re working on. The following points are ongoing or are currently in progress:
A couple notable developments and happenings:
In the buzz of September we already mentioned that Bitladon comes close to Knaken for offering the most crypto. In October Knaken removed no less than 12 crypto’s from their assortment! That number contains a remarkable amount of privacy coins. Anycoin Direct followed later with the removal of privacy coins. Of course because of the requirements imposed by the DNB to be able to register. After all, privacy coins are considered ‘dangerous’ because they are difficult to trace or cannot be traceable at all. Because those removals at Knaken and Bitladon enriching its offer, Bitladon has become the provider at CoinCompare with the largest variety of crypto’s!
Below the complete overview of which crypto’s have been added and removed at our largest providers:
|Bitladon: Aave (AAVE), Secret (SRCT), Filecoin (FIL), Novo (NOVO), VeThor Token (VTHO)
||Bitladon: Aave (LEND) rebranded symbol to Aave (AAVE), Enigma (ENG) rebranded to Secret (SRCT)
||Knaken: Blocknet (BLOCK), Chromia (CHR), Cortex (CTXC), Crypto.com (MCO), Dash (DASH), Horizen (ZEN), Komodo (KMD), Monero (XMR), TTC (TTC), Verge (XVG), Zcash (ZEC), Zcoin (XZC)|
|Coinmerce: Aave (AAVE), Filecoin (FIL), Helium (HNT), Injective Protocol (INJ), UMA (UMA)||Coinmerce: Aave (LEND) rebranded symbol to Aave (AAVE)
|Bitvavo: –||Bitvavo: –|
|Coinbase: Balancer (BAL), Ren (REN), Wrapped Bitcoin (WBTC)||Coinbase: –
|Anycoin Direct: –
||Anycoin Direct: Dash (DASH), Monero (XMR), Pivx (PIVX), Verge (XVG), Zcash (ZEC)|
As of writing the total amount of unique and price comparable crypto, per the largest provider, are as following in compare to previous month:
Bitladon 216 (+3)
Knaken 204 (-12)
Coinmerce 146 (+4)
Bitvavo 58 (–)
LiteBit 55 (–) Wallet maintenance ongoing. Among them are Monero, NEM and Zcash. Full article here.
Coinbase 34 (+3)
Anycoin Direct 21 (-5)
BLOX 25 (–)
CoinCompare 179 (+1)
CoinWall 340 (+2)
We started October with 178 crypto’s where we compare the prices of. With the additions and removals the total amount has become 179 different crypto’s on our unique one page price comparison overview. On CoinWall, where all offered crypto by our providers are shown, we now support 340 crypto’s to choose from.
What a great month for bitcoin ! Bitcoin made a profit of 27.94% in October. Bitcoin owes most of the increase to large investments by investment companies MicroStrategy and GrayScale. But, bitcoin was not the biggest gainer. If you had bought Decent (DCT) at the beginning of October and sold it at the end of October, you would have had a 257.81% return. Furthermore, we did not see any extreme ups or downs in October. Here are the rest of the top 5 biggest ups and downs:
|+257.81% DECENT (DCT)||-78.64% Tierion (TNT)|
|+114.61% Refereum (RFR)||-57.40% Fantom (FTM)|
|+105.72% Moeda Loyalty Points (MDA)||-56.92% Curve DAO Token (CRV)|
|+87.78% Vitae (VITAE)||-56.18% yearn.finance (YFI)|
|+64.26% Quant (QNT)||-54.91% HedgeTrade (HEDG)|
Throughout the month, 13 providers with 184 price comparable crypto’s and 368 buying and selling prices have been monitored to conclude who is going home with the gold medal. Here are the Best deal providers of the month October:
Bitladon! In October, we registered 67 hits which ensures a 18.20% share in being the cheapest provider of all the crypto we can compare the prices of. It’s 5 more hits for Bitladon than in September which results in an increase of 0.89%. Bitladon therefore remains stable and assured of the number three position.
Bitvavo! Bitvavo has taken a big hit. Of the 108 hits in September, only 95 are left in October. A decrease of 4.35%. Still, they keep a quarter (25.81%) of the registered hits which ensures that they remain number 2 as Best Deal provider on CoinCompare.
Coinmerce! Are you looking for a crypto provider or would you like to switch? Don’t look any further! With a completely new design, new order setup and a registration promotion ending on November 4th, Coinmerce remains the number 1 provider on CoinCompare for the best deals . In October we registered 150 hits with a share of 40.76%. An increase of 1.10% compared to September.
The best deal provider of the month is determined independently with the average of cumulating snapshots of buy and sell prices of all the best deals that are shown on our homepage. Logically, the larger the variety of crypto offered, the most chance of becoming the winner. In the end it is still the price of the crypto that matters as it has to be comparable. Discounts in Tiers and VIP levels are not included in the calculation. As deals change several times a day, due to the volatility of prices, the provider with the best deal can therefore change as well. Due to that fluctuation we take two snapshots per day to the determine the provider for that day with the most entries on our price comparison page.
By Jeroen Modified 02/12/2020