All you need to know about Byecoin
We are Byecoin, the first party in the Netherlands to allow users to exchange cash euros for Bitcoin and Ethereum since 2014. It started with an idea for the Observatory in Oud Gastel and later the HighTech Campus in Eindhoven, and quickly grew into a national network in the Netherlands. Today, we have thousands of Byecoin app users and over 40 ATM locations in the Netherlands.
How does it work?
As a consumer, you can download the Byecoin app from the App Store or Android Store and then you register yourself step by step as a user. Make sure you have your driver’s license, passport, or ID card handy when you do this. Don’t forget to keep your 12 words safe, because our wallet is a digital leather wallet, and if you lose it, you’ll lose absolutely everything.
If you want to use the app to buy Bitcoin with iDeal, you can do so from home or while traveling. To convert cash euros to Bitcoin (BTC) or Ethereum (ETH), find one of our ATMs using the Location Finder or Coin ATM Radar.
If you exchange cash euros for BTC/ETH, our fee is 10% of the transaction amount, in addition to the fixed fee of €10 for Bitcoin and €20 for Ethereum per transaction. Cash transactions are higher because we incur significantly higher costs for receiving and depositing the funds than when paying with iDeal.
About Crypto Assets
Our primary focus is on Bitcoin. On this page, you will find more information about the various crypto assets that you buy with cash on our ATMs or Byecoin App.
Bitcoin ($BTC)
Bitcoin ($BTC) is the first and largest cryptocurrency within the crypto landscape. It provides an alternative to the traditional centralized financial system. Bitcoin is digital and sovereign money; it exists independently of the efforts of any government, central bank, or commercial company. The power over it lies with the users, who collectively ensure that everyone adheres to the rules. There is, therefore, no central entity that can change the rules midway, such as increasing the money supply. That’s why Bitcoin is often referred to as ‘digital gold.’
Ethereum ($ETH)
Ethereum is the second-largest cryptocurrency in the crypto landscape after Bitcoin. Users can build and execute decentralized applications on Ethereum, making it a crucial driver of innovation within the crypto market. Additionally, Ethereum is renowned for its smart contracts, which are self-executing contracts where the agreements between the buyer and seller are recorded in the contract’s code. The token $ETH is used for executing transactions on the network and reward ETH holders who have staked tokens.
