Satos.eu is a platform where you can easily buy cryptocurrency and sell it. SATOS started out as a hobby website, but has now grown into a company with the goal of making the use of cryptocurrencies as easy and accessible as possible for whole Europe. The company is based in Lelystad and is registered under the name SATOS B.V. In this SATOS review we will thoroughly research the Chamber of Commerce data of this company. The offer currently consists of only five different coins, but according to the company this will grow strongly in the future. In our SATOS review we investigate the platform, check if the broker is safe and give a final score. On this page you also have the opportunity to leave your own review through our rating system.
| Only 5 cryptos
Pay with iDEAL or Bancontact
Expensive! Fees between 1.5% and 2.5%
No built-in wallets
Cheaper SATOS alternative
Are you planning to trade a lot or do you think it’s a shame to pay high trading costs? If the answer is yes then we recommend trading with the Bitvavo Exchange. At this exchange you pay a maximum of 0.25% trading fee and you get your own wallet for all 55+ cryptocurrencies. The trading costs at SATOS are between 1.5% and 2.5%, so for some trades almost ten times as high. Also you need to create your own wallet when using SATOS. If you register as a new customer with Bitvavo using the button below you can trade the first € 1.000 at no extra cost.
Trade € 1.000 for free at the Bitvavo Exchange
What is SATOS?
Satos.eu is a cryptocurrency trading platform where you can easily buy and sell cryptocurrencies. They offer more and more different currencies and try to make the offer as complete as possible. In doing so, they look closely at the top 100 of CoinMarketCap. Unfortunately the offer hasn’t changed the past 2 years and they only managed to charge higher fees from their customers. This might have something to do with the restyle of their website early 2020. The website looks very good now, but we rather pay less fees.
Satos is a Dutch company that is committed to making cryptocurrencies accessible to everyone. In the past they had very competitive fees, but nowadays they are even more expensive than most crypto brokers like Bitladon. They do their best to keep the customer satisfaction high and they do everything in their power to make every customer a satisfied customer. Read the Satos review for more information about this brokers, such as what they do, the fees and the verification’s.
What does the company do?
The company is primarily active in offering cryptocurrencies that can be bought and sold through the platform. One of the most common ways to buy cryptocurrencies is by first buying Bitcoin or Ethereum and exchanging them for other cryptocurrencies on an exchange, such as Binance. This has the advantage that as a user, you pay a low fee, but it can be a complicated and technical task for the beginning user.
Satos wants to do something about this by making it easier and more user-friendly by offering payment methods such as iDEAL and Bancontact. In addition, Satos does not require you to buy Bitcoin first, but allows you to buy your desired cryptocurrency right away.
What can you expect from SATOS?
When you buy your cryptocurrencies from this platform, you can count on excellent customer support and any additional support you may need. In order to achieve this, they do their best when it comes to customer service and questions are answered fairly quickly. According to Trustpilot they have more than 1450 satisfied customers and the SATOS experiences have been rated with a 9+. In exchange for this service you pay a high service fee of a maximum of 2.5%.
Satos website update January 2020
At the beginning of the year 2020, SATOS completely updated its website. Of course, we are also updating our Satos review. Not only has the URL of Satos.nl changed to Satos.eu, but also the overall look and feel has changed. This has mainly to do with the fact that they now really focus on Europe and offer the website in different languages. Besides the fact that the website looks completely different, they now also offer much more information. You can now visit the website for the latest cryptocurrency news, you will find a crypto knowledge base and you can view the current prices.
For the beginning user it is immediately clear what the intention is. On the homepage you can also find a movie explaining how the platform works, so you can get started quickly. It is even possible to place an order directly from the homepage.
The website has a nice modern look and reflects well the professionalism of the company.
SATOS wants to be able to offer as many cryptocurrencies as possible. So far, the following coins are available at this company:
For the above mentioned cryptocurrencies it is both possible to sell and buy them with this platform. Unfortunately, the offer has remained almost the same the past years (they only removed ZCash from the offer). So it doesn’t look like you can go to SATOS for a wide variety of cryptocurrencies. The very low offer, the lack of built-in wallets and the high prices make SATOS not the right place to trade crypto. If you want more choice, lower fees and built-in wallets, we recommend Bitvavo or Bitladon. We hope to update our SATOS review in the future to add more cryptocurrencies.
How to buy or sell cryptocurrency at SATOS?
If you want to buy cryptocurrency from Satos you can place an order starting from 50 euro. After entering the quantity you can click on Get Started to continue. On the next page you can adjust the quantity again and choose the payment method. You can choose between iDEAL and Bancontact. Select your bank and enter your Bitcoin wallet address, for example. If you don’t have a wallet yet, SATOS will help you create one. SATOS does not host wallets and never will. They believe that everyone should manage their own private keys.
Enter your e-mail address, accept the conditions and click Place order to complete the order. If this is your first order, you must verify your personal data. This means that you have to send a video of yourself with a couple of assignments along with a copy of your ID. Please note that this will be requested from you after payment.
If you do not want to do this verification, you can request a refund. To do a refund you will be charged for the miner fee, exchange costs (back to euros), return costs of € 15 and the volatility of the price.
Buy cryptocurrency with SATOS
Unlike similar platforms, you don’t have to create an account. You can simply enter your desired quantity, place your order, enter your wallet address and email address and pay.
The crypto will be send as soon as possible to the specified wallet address after a successful verification. In general, transactions are executed after an account verification. In some cases, you may be asked for additional information.
Selling is also very easy. You select the coin you want to sell and the quantity. The current price SATOS wants to pay for your coins will be filled in automatically. Click on Start sale to start the sell process. Your order will be executed automatically and the money will be paid out to your bank account. All you have to do is fill in your IBAN and your name.
It can take up to 3 days before the payout is in your bank account, because it is by bank transfer. If you use the same bank as SATOS, this usually is faster.
Verifications and limits
SATOS is supervised by the Dutch law and is an official financial institution. This means that they have to take care of who they do business with and where the money invested comes from. To achieve this, an introduction video verification must take place after your payment. In this video you do a number of of tasks, such as saying who you are, why you buy crypto and with which company. In addition, your ID and face must be clearly visible and you will also be asked for a copy of your ID. This video is manually checked by the team during opening hours.
In addition, in some cases you may be asked for a proof of wealth, a bank account verification or a proof of residence. This additional information is requested when your investment exceeds the set limits.
At SATOS you can place an order of up to 50.000 euros per transaction. This verification was created to counter high-risk or fraud-sensitive customers / orders. After this, no more verifications will take place at this platform.
SATOS fees, costs and prices
The use of the platform is free, but they charge a service fee on top of the current market price. This business model is used by almost all brokers. The broker makes a profit by charging a slightly higher rate than the current market price. The difference is the profit and from this they can maintain the platform and provide support.
We have compared the current market price (source: CoinMarketCap) with the price this company charges.
|Coin||Market Price||SATOS Price||Fee|
|Bitcoin (BTC)||€ 9.219,64||€ 9.382,72||1.76 %|
|Ethereum (ETH)||€ 208,19||€ 212,22||1.9 %|
|Bitcoin Cash (BCH)||€ 409,34||€ 421,14||2,9 %|
These prices are snapshots and are taken in February 2020. It only gives an indication of the fees that are charged and can vary at any time of the day. During our comparison in 2019 (before the new website) the fees were at least half as high as they are now.
SATOS also shows the costs on the website. For buying cryptocurrency they charge between 1.5% and 2.5% (with peaks to 2.9% apparently). For selling crypto they charge less than 1% for Bitcoin and between 1.5% and 2.5% for altcoins.
Always research which broker is cheapest at the time you want to buy. You will find an overview of all brokers here.
We highly recommend to use Bitvavo, they only charge a fee of a maximum of 0.25%.
Trade € 1.000 for free at the Bitvavo Exchange
Is SATOS safe and company information?
SATOS is a company from Lelystad and is registered under the name Satos B.V. This private company was founded on 24-03-2016. In order to conduct as thorough an investigation as possible, we have requested paid Chamber of Commerce extracts of this company to see who is involved.
We do not show any personal information, such as telephone numbers and first names. These data are available to everyone at the Chamber of Commerce and are public information (after payment). Satos has the holding company BITNED BEHEER B.V. as a independent company director, of which the following companies/persons are the independent managers:
- Romy Ventures B.V. (65658469), where ER Driessen is the independent manager
- Coincorp B.V. (65658434), where EH Driessen is the independent manager
- TB Kamer Ventures B.V. (65658388), where TB Kamer is the independent manager
The company can be visited by appointment at Zilverparkkade 71 in Lelystad. At this moment they have helped more than 1000 customers and we can conclude that SATOS is safe. The support team is available from 09:00 to 22:00 for questions and guidance on buying or selling cryptocurrency.
Satos is a simple platform that does exactly as they say. You can easily buy and sell your cryptocurrencies. Buying is quick and easy via iDEAL or Bancontact and selling via bank transfer.
When you want to invest using this platform they have to do some verifications. SATOS does this to prevent money laundering and to comply with the Dutch laws and regulations. Satos has become more expensive over the years and charges a commission of up to 2.9%. This means that immediately after purchase you will lose 2.9% of value. There are plenty of alternatives that charge a lower commission, such as Bitvavo.
There are relatively few cryptocurrencies on offer at the moment, but according to the website they are busy offering multiple cryptocurrencies in the future!
Did you trade at Satos and would you like to share your experience? You can do so via the review form below.
8232 WK Lelystad
All Satos.eu reviews:
!!! ATTENTION – THESE ARE SCAMMERS !!!
SATOS.eu stole 200 euros from me.
After transferring the bitcoin, they want you to go through some procedure that violates your privacy, if you don’t they refuse to pay or return your money. Currently talking to my lawyer to start legal proceedings against this company.
Tell us what you think of Satos.
What are the trading costs at SATOS?
The trading cost for buying cryptocurrency is between 1.5% and 2.5% (variable) with peaks to 2.9%. Selling cryptocurrency costs between 0.7% and 2.5%.
Which payment methods does SATOS offer?
At SATOS you can pay with iDEAL, Bancontact and bank transfer. There are no extra costs for this.
How long does a payout take?
When you are fully verified a payout will take place almost immediately between 10:00 and 22:00.
What is the minimum investment?
The minimum investment for Bitcoin is €50 and for altcoins, the minimum investment is €10.
How do I get in touch with customer service?
You can contact them via e-mail ([email protected]), telephone (0320 32 00 36) or via the contact form.