The crypto market can be quite erratic. In addition, you have to be careful with whom you do business – sometimes a party simply falls over without adequate supervision.
Yet cryptocurrencies are popular, especially with a younger target group. In the National Investor Survey, we asked Dutch consumers about their experiences with crypto exchanges, among other things.
There are approximately 1.9 million crypto investors in the Netherlands, research agency Multiscope has calculated. Together they have €2.2 billion outstanding: almost thirteen times as much as in 2018. Although that peanuts compared to the assets held in stocks, ETFs and mutual funds, the crypto market has become a significant factor.
Take a good look at who you are doing business with
A growth market in which, in addition to substantial losses, substantial profits can also be made, also attracts providers and market parties that are not so solid, as the fall of stablecoin TerraUSD and – very recently – crypto exchange FTX shows.
This makes it even more important for crypto investors to be critical in their choice of parties with whom they do business. Of course, customer experiences are no guarantee, but they do give a good indication of which parties, for example, are doing their best in the field of service, user-friendliness and information provision.
Large-scale consumer research
IEX recently conducted a major survey among Dutch investors, in which more than 5,300 investors participated. Part of the questionnaire was about crypto exchanges. These questions were completed by 764 investors.
We asked them the following questions:
- How do you rate the ease of use of the website and the app?
- What do you think of the cryptocurrency offer?
- How is the information provision?
- How do you rate the service and the helpdesk?
- And what do you think of the price/quality ratio?
Based on the criteria above, we made a list of the ten best-rated crypto exchanges (descending from the highest to the lowest average score):
- BUX Zero
- Bitcoin Direct
- Bitcoin Master
They are therefore also nominated for the IEX Gouden Stier 2022. The winner of this award will be announced in early 2023.
The results of the survey can be found in the Best Choice comparator, which can be consulted on IEX.nl.
Some highlights from the investor survey
- BUX Zero has overall the most points achieved (average 4.09 on a scale of 1 to 5)
- According to investors, Bitvavo and Bitonic have the most user-friendly website
- The Bitvavo app is also the most appreciated, next to BUX Zero
- In terms of offerings, crypto investors are most pleased with BUX Zero and Coinmerce
- The provision of information is inadequate across the board: no provider manages to score a 4 or 5 (out of 5 points)
- … BTC Direct and BUX Zero do best in this area
- There are relatively many complaints about high costs and also poor transparency about this
- According to investors, the service is best at BUX Zero and Bitmymoney
- The price/quality ratio is best in order at BUX Zero and Bitvavo
View the full results in the IEX Best Choice comparison
See also nominations in other categories:
The Editorial Board of IEX consists of a team of content managers, journalists and analysts, with more than a hundred years of combined experience in producing and publishing investment information and opinions. The information in this column is not intended as professional investment advice or as a recommendation to make certain investments. It is possible that editors hold positions in one or more of the listed funds. Click here for an overview of their investments.