BUX offers the possibility to invest in crypto alongside having stocks and ETFs in your portfolio. That means you can build and manage a super diversified portfolio from one app.
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Currently, cryptocurrencies on BUX are not available in France, Austria and Germany.
Costs of investing in crypto
Buying and selling crypto on BUX incurs 0.5% commission per order. However, you can avoid the commission if you hold 1,000 or more BUX Tokens. In that case, the commission for you will be waived.
You can check the detailed overview of BUX costs here.
The BUX Token (BUX) is a utility token that exists on the blockchain.
The utility of the BUX Token is that it gives BUX users the option to trade with 0% commissions when users hold 1,000 BUX Tokens in their portfolio.
Previously, The BUX Token (BUX) was known as the Blockport Token (BPT), which was rebranded when the BUX company acquired Blockport in 2020. The Blockport Token (BPT) was created in January 2018 and was the utility token of the then called Blockport platform.
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Crypto in a nutshell
What is a cryptocurrency?
A cryptocurrency is a digital currency that is secured by cryptography. Often it requires massive computing power to crack digital cryptography. So much so that trying to break it doesn’t usually pay off for hackers.
Cryptocurrencies only exist digitally and are stored in digital wallets. All transactions are encrypted and recorded on a digital log. Unlike a traditional database, however, the records are stored on a network of hundreds or thousands of computers at once.
On BUX, you can find various cryptocurrencies, from the ‘early’ coins, such as Bitcoin, Ethereum, Litecoin etc., to Decentralised Finance (DeFi).
What is a blockchain?
When it comes to crypto, you’ll often come across the term ‘blockchain.’ This is the technology which makes most cryptocurrencies work. In simple terms, it’s just a system that tracks financial transactions and records them in a digital log. The main difference to banks and traditional currencies is that crypto transactions are recorded on a network of multiple computers instead of one central place.
What is a token?
If you are interested in investing in crypto, tokens are also an important concept to know. To put it simply, tokens are digital assets that often run on the basis of pre-existing blockchain infrastructure. There are different types of tokens for different purposes, for example, non-fungible tokens to buy digital art or utility tokens to access a product or a service.
The main difference between tokens and cryptocurrencies lies in their structure. Cryptocurrencies are an in-built part of the blockchain whereas tokens are not in-built but regulated by software protocols called smart contracts You can invest in both crypto and tokens on the BUX platform in the same way. Both have the potential for growth, but both tend to be more volatile than stocks and ETFs.