Dear community members,
This past year has been challenging for all investors, especially crypto investors. Since the beginning of the year, the markets turned red and Bitcoin fell from $47,000 in January to $15,000 in November. These downward trends are all part of bigger macroeconomic cycles, and as investors, it’s up to us to find a way to deal with these cycles in a positive way. For us, that means putting more focus on building and growing sustainably towards profitability. You will find this in our product roadmap 2023.
On top of that, the crypto market has been hit hard by big players in the industry that fell: Terra Luna, 3AC, FTX, Blockfi, Voyager, and who knows what more is to come?
These high-profile collapses underline the importance of having proper risk management and custody protection in place to safeguard investors at all times. We build, test and launch every feature with these proper mechanisms in place, even if it means being slower to market, so that the safety and security of your assets can be guaranteed.
Crypto integration was a huge success
Over the last year we’ve been steadily building and expanding our offering at BUX, so that we’re fully prepared for the better times that await us at the end of this bear market. It was therefore reassuring to successfully close our latest funding round a few months ago, with more than €16,000,000, to keep building and growing even in these uncertain times.
The Crypto integration with BUX Zero earlier this year was also a huge success, making us one of the first neobrokers in Europe to offer stocks, ETFs and crypto all in one app! This combination of traditional and emerging asset classes will allow us to become the go-to platform for every investor looking to invest in a broad range of markets, with just a few clicks.
One of our key focus points for the coming year is to bring significant utilities to the BUX Token in BUX Zero. This reinforces our earlier strategy to support and build more DeFi (Decentralised Finance) functionalities, such as earning interest on crypto assets, staking, voting, governance, premium access, and more.
1. New crypto asset listings (Throughout the year)
This year we listed 21 new crypto assets. In 2023, we are planning to continue this streak to add even more. The goal is to offer as many popular assets, that are in line with our listing policies, as possible.
2. Savings Vault: Earn interest on EUR (Q1 / Q2)
This new feature will allow you to earn interest on your Euro via a stablecoin conversion in the background. The exact terms, risks and returns will be disclosed upon launch.
3. Staking: Earn interest on crypto assets + BUX Token utility (Q2)
Earn interest on certain crypto assets – and, as a bonus, you can earn increased interest on crypto assets (receive a higher yield on your crypto assets) if you hold a certain amount of BUX Tokens.The exact terms, risks and returns will be disclosed upon launch.
4. Limit orders (Q2)
Next to market orders, we will also support limit order functionality. This allows users to buy or sell crypto assets att a set price level.
5. BUX Token utility: Trading fee cashback (Q3)
Receive 100% of the trading commission that you paid, as a cashback reward, in the form of BUX Tokens.
6. Adding crypto to the Savings Plan in Zero (Q3)
The Savings Plan allows investors to create an automated monthly plan for investing in crypto assets.
Trading in digital currencies involves risks. You can lose your investment. All views, opinions, and analyses in this article should not be read as personal investment advice and individual investors should make their own decisions or seek independent advice. This article has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication.