Bux announcements

2021-02-14 11:59:59 BUX Crypto Newsletter #17

Dear community,

We're bringing you the seventeenth newsletter of BUX Crypto on Valentine's day with love!

In this newsletter, we like to give you a quick update on our team's developments.

First of all, as a result of the rapid growth on our platform, the BUX Token has reached a new year's high of $0.32!!

Also our BUX signup promotion has ended in January. So as of this month, you need to hold 1.000 BUX tokens in your portfolio to automatically enable zero-commission trading on your account.

Furthermore, Tesla announced last week that it bought $1.5 billion worth of Bitcoin. We believe that this is truly one of the most iconic moments in the history of Bitcoin. As a result, Bitcoin reached a new all-time high which resulted in significant growth on our platform breaking some of our own daily records.

A big shout-out to our team for making sure everything kept running smoothly!

In the past weeks we've worked on:

Successful deployment of the new exchange integration, allowing us to list new crypto assets on the platform and to provide better prices for our users. Now we can add a selection of new assets in the coming weeks and also lower the minimum trade amount of €30 to €5 euro for most of the main trading pairs.

​Limit orders (the option to buy and sell cryptocurrency for set price levels), launch of this new feature is set for Q1.

Scoping and conceptual development of the new utility improvements for the BUX Token. Details will be shared in the updated version of the BUX Crypto roadmap.

Development of the BUX Crypto deposit and withdrawal verification app that is in line with the new Dutch crypto laws for cryptocurrency service providers.

The new BUX Community Forum. First invites to a selection of BUX Ambassadors for the private beta of the Forum have been sent out. The public launch is scheduled for the 5th of April.

In the coming weeks we will work on:

Continuing the work on new product features mentioned above.

Starting the listing process of new assets. Specifics about new listings will be shared in separate announcements.

Looking into Pancakeswap as a new addition for the BUX Token markets.

Integrating a new payment service provider that enables us to offer more (local) payment methods and credit cards.

DNB registration: We have not received a response from the DNB yet.

And, in order to accelerate all our plans for development this year, we are looking to hire new developers!

So, if you are interested or know someone who might be interested to join our team, feel free to check out the open positions at our careers page.

Let me know if you have any further questions in our Telegram community channel or follow us on Twitter.

Cheers from Amsterdam,

Kai Bennink
Head of Strategy Open / Comment

2020-12-08 11:55:40 BUX Token (BUX) trading is now open at BUX Crypto! Open / Comment

2020-12-07 14:39:36 After a successful token swap to the Binance Smart Chain, trading of BUX Token (BUX) is now open at KuCoin exchange!

BUX Crypto users will also be able to trade BUX today! Open / Comment

2020-12-02 18:04:21 BUX Crypto will support the SPARK Airdrop Program for XRP holders!

Snapshot of your XRP tokens on your BUX Crypto account will be taken on Dec 12 and the SPARK tokens will be distributed to your account accordingly.

However, no trading is supported for this token. Open / Comment

2020-12-01 17:04:11 Dear community,

The token swap was completed at 15:00 CET today and token holders are now able to access their tokens on the Binance Smart Chain (BSC) The official new BUX Token (BUX) BEP-20 contract address is: 0x211ffbe424b90e25a15531ca322adf1559779e45

All tokens are minted to token holders’ addresses on BSC, and we’ve minted balances that were held in contracts at IDEX or Etherdelta directly to holders’ individual addresses.

Tokens minted for the sole purpose of financing a listing are held at the following address: 0x76f57384b01d90e4b90604731a838c6b77bd661f

Users of BUX Crypto and KuCoin do not have to take action to access their new tokens. Other token holders can follow this guide: https://buxcryptosupport.getbux.com/en/support/solutions/articles/1000295860-erc-20-bpt-to-bep-20-bux-swap

The swap is supported by BUX Crypto and KuCoin. KuCoin’s timeline is as follows:

1. KuCoin will close the trading service for the BPT/BTC trading pair at 17:00:00 on December 2, 2020 (UTC+8).

2. To complete the upgrade, KuCoin will take snapshots of users’ BPT assets at 17:00:00 on December 2, 2020 (UTC+8). After the snapshot, KuCoin will convert BPT into BUX at a ratio of 1:1 (1 BPT = 1 BUX).

3. KuCoin will open the BUX deposit service at 18:00:00 on December 4, 2020 (UTC+8).

4. KuCoin will open the trading service for the BUX/BTC trading pair and BUX withdrawal service at 18:00:00 on December 7, 2020 (UTC+8).

This means that traders will have to wait a few days more before BUX tokens can be traded, deposited, and withdrawn at KuCoin exchange. BUX Crypto will close and open up trading of BUX at the same times as KuCoin.

Note: the old BPT ERC-20 contract on the Ethereum blockchain will remain paused indefinitely and is deprecated.

Greetings from Amsterdam,

The BUX Crypto team Open / Comment

2020-11-30 22:49:08 Dear community,

The token swap to the Binance Smart Chain will take place tomorrow, the 1st of December at 15:00 CET. We’re ready and excited for this next step!

Token holders that have tokens at BUX Crypto or KuCoin don’t need to take any action to access their tokens after the swap is completed.

Token holders that have tokens on a separate wallet or hardware wallet such as a Ledger or Trezor can follow this guide tomorrow: https://buxcryptosupport.getbux.com/en/support/solutions/articles/1000295860-erc-20-bpt-to-bep-20-bux-swap

We will follow up tomorrow with a separate announcement when the token swap is completed.

If you have any questions feel free to ask us in our Telegram Community Channel!

Greetings from Amsterdam,

Team BUX Crypto Open / Comment

2020-11-28 14:09:07 Dear community,

We’re excited to share that we’re on track for the tokenswap of BPT to the Binance Smart Chain (BSC) on December 1st!

During the tokenswap we’ll transfer the new BUX Token (BUX) to all current BPT token holders’ wallets on the Binance Smart Chain. This Monday 30th of November a guide will be available on BUX Crypto’s FAQ on how to access your tokens, this guide will also be shared in this announcement channel.

Note that users of BUX Crypto and KuCoin do not have to take action to access their new tokens. The tokenswap will happen automatically for these users. Token holders that hold their tokens elsewhere can follow the guide and can always access their new tokens. No action is required before the tokenswap from anyone.

BUX Crypto and KuCoin will both support the swap to BSC and trading will be halted a few hours during the swap until it’s completed.

The past weeks we’ve been in contact with multiple community members and large token holders who emphasized the importance of having the BUX Token (BUX) listed on other exchanges. This has been a request of the community for a longer period.

Therefore, we decided to mint 10% additional tokens during the tokenswap for the sole purpose of facilitating a listing at a bigger exchange and/or to provide liquidity for new exchange listings. These tokens will only be used as a liquidity pool, or for payment, to secure such a listing. If the tokens are not used for this purpose before 2022, all newly minted tokens will be burned and never come into circulation. This way the tokens will only be released in case of a new exchange listing, stimulating growth of the ecosystem and thereby creating a favorable situation for existing holders.

These additional tokens will be stored on a dedicated wallet and the address will be shared with the community directly after the tokenswap.

If you have any questions or need help relating to the tokenswap, feel free to contact us in the BUX Crypto Telegram channel.

Greetings from Amsterdam,
Team BUX Crypto Open / Comment

2020-11-20 20:52:11 Dear community,

Today we received the update from the Dutch Central Bank (DNB) that our registration as a crypto service provider in the Netherlands is still in progress. Crypto service providers that are currently still in the registration process will receive more time to complete the registration as was shared by the Minister of Finance of The Netherlands.

As the new Dutch crypto laws will be in effect as of the 21st of November 2020, we are obliged to temporarily disable all crypto deposits and withdrawals until we have the final approval for the registration from the DNB. We estimate that we can provide more information about re-enabling these functionalities in a few weeks from now.

During this period, existing users will still be able to deposit and withdraw to and from the platform with Euro. Also trading for all supported markets will remain open. To compensate users for this inconvenience, we have decided to lower trading fees to 0% for all users and also to remove the Euro withdrawal fee during this period.

We acknowledge that these temporary measures are suboptimal for our users, but they do provide us with sufficient flexibility to adhere to the new Dutch crypto laws and at the same time complete our registration application with the supervisors of DNB.

Cheers from Amsterdam,

Team BUX Crypto Open / Comment

2020-11-19 16:56:56 Dear community,

Trading of BPT is available again on the BUX Crypto platform.

Withdrawals and deposits will be re-enabled on the 1st of December after the migration to the Binance Smart Chain is completed. Open / Comment

2020-11-17 16:17:31 Dear community,

We’ve got exciting news that we’re eager to share with you! The BUX Token (BUX) is going to move from Ethereum to the Binance Smart Chain.

The BUX Token (BUX) BEP-20 tokens will be available on the 1st of December at 15:00 CET. Trading, withdrawals and deposits will then be re-enabled at BUX Crypto and KuCoin.

This new move will also reverse any fraudulent transactions as a result of the KuCoin incident.

Read the full announcement here: https://getbux.com/blog/bux-token-joins-the-binance-ecosystem/ Open / Comment