What is BUX Token?
BUX token is the native token of BUX Crypto, which is a crypto exchange platform that allows users to invest in cryptocurrencies, shares, and Exchange-Traded Funds (ETF) without paying commissions. BUX aims to make investing in cryptos, shares, and other investment instruments an easy and smooth process. The platform has a native token that goes by the same name – BUX. You can check the BUX tokens price chart above to see the current BUX price.
Stichting Custodian is in charge of holding user funds on BUX. An omnibus account, such as BUX, makes the custodian the actual owner of the money. Since the assets are legally separated, they are safeguarded against the BUX company's bankruptcy. Besides, in order to safeguard themselves from hackers, BUX also mandates that all users set up two-factor authentication.
Who Founded BUX?
BUX Crypto is a part of BUX, which is a neo-broker company based in Europe. The company was founded by Yorrick Naeff in 2014. Naeff is a fintech specialist and an entrepreneur from the Netherlands. In the past, he worked at ING. BUX is based in Amsterdam, Netherlands, with an office in London as well. The BUX crypto project is primarily focused on the European markets. Some of the countries where their services are available are Germany, Austria, France, Belgium, Spain, and other European countries.
BUX Crypto, on the other hand, was previously known as Blockport (a European social crypto investment platform). However, in 2020, Blockport merged with BUX and, thus, was rebranded to BUX Crypto. The rebranded project is led by Kai Bennink who is the founder of Blockport. As the merge happened, the native token of Blockport, BPT, was rebranded to BUX and migrated from Ethereum's ERC-20 token standard to BSC's BEP-20 token standard. BPT tokens were automatically swapped for BUX tokens.
Use Cases of BUX Tokens
The BUX coin grants its holders the right to buy cryptocurrencies and shares commission-free. Though this is only allowed to holders of at least 1000 BUX tokens. Besides, there are no commissions only when users make market orders. Trading using limit orders requires a 0.25% commission.
However, as the platform grows in popularity and expands to other markets, the use cases of BUX tokens will expand as well. Besides, the team plans to include Decentralized Finance (DeFi) applications in the BUX project, which might result in using BUX tokens to cover the transactions of these applications. This is expected to propel demand and reflect positively on the BUX price.
Care to see the current BUX price? Check out the BUX token price chart above.
