Have you seen the We Are BLOX commercial on television? It is a super handy app of the BTC Direct broker, which you can use to easily invest in various cryptos. The app is perfect for a newby, but limited for investors who want to get the most out of crypto.
In addition, there are a many complaints and negative reviews about the app because of a lot of bugs and issues. That is why we have a stable BLOX alternative for you. We sincerely hope that they will fix the bugs soon.
No time to read it all? Bitvavo is the best alternative for BLOX.
What are the disadvantages of BLOX?
BLOX is a very new crypto app and it is clearly still a work in progress with a lot of bugs, which often makes crypto trading impossible when there is a lot of price movement. Traders face the following issues:
- Users can’t log in.
- Orders are executed too late (so at a different price).
- Euro deposits are not instant and are delayed.
- Not enough support capacity.
This leads to great frustration for traders. On Twitter, a trader speaks about losses and whether this is compensated. The tweet has been removed by BLOX.
In fact, it is now so bad that they no longer accept new customers and they introduced a stop on new registrations.
Because of these issues it could be wise to check out an alternative for the BLOX app, until all the bugs are fixed and when the registrations are open again.
Another big disadvantage of BLOX is that you cannot withdraw or deposit crypto. It is only possible to get euros in and out of the app. You cannot spend your crypto, send it to someone, trade it on an exchange or deposit it. Something you might want with your cryptocurrency.
In addition, you pay 1% transaction fee for every purchase or sale. This means that your investment will be 1% down after your purchase. To break even, you have to wait until the price rises by 1%. You want to keep these costs as low as possible.
What is a good alternative for BLOX?
If you want to get more out of a crypto platform, we recommend the Bitvavo exchange. Bitvavo has been providing a stable platform to crypto traders for almost 4 years and has a well-functioning app and web-based platform.
Via Bitvavo you can easily invest in over 55 cryptos and you can withdraw all your funds. In addition, the fees will never exceed 0.25%.
Bitvavo is registered with the Dutch central bank (BLOX also by the way) which proves its reliability.
Bitvavo vs BLOX
All differences between Bitvavo and BLOX in an overview.
|Deposit/Withdraw crypto||Possible||Not Possible|