BL3P

Price (BTC)
3.730,51
24h volume
412.37
Market
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FAQ (Frequently asked questions)

General

What is BL3P?

BL3P is the trading platform of Bitonic B.V., a European Bitcoin exchange with a Dutch basis. On BL3P you have the opportunity to buy and sell bitcoins quickly and safely.

What is Bitcoin?

Bitcoin is a decentralized digital currency. If you are curious and want to learn more about Bitcoin, we recommend you to visit (one of) the following pages:

Will BL3P support Litecoin or other altcoins in the near future?

Our trading engine has been designed to manage multiple markets. While we predominantly see a future in bitcoin, we do notice an increasing interest in other cryptocurrencies. Therefore we do want to add Litecoin ( LTCEUR and LTCBTC ) to our portfolio in the near future.

Should I choose BL3P or bitonic.nl?

Do you want to trade, set your own price, deposit with SEPA or purchase a large number of bitcoins? Then BL3P is the most suitable for you.

If you want to buy or sell a limited number of bitcoins or if you want to trade quickly, we recommend you to do this at bitonic.nl. (Buying bitcoins on bitonic.nl is only possible with iDEAL or MisterCash). At bitonic.nl a onetime verification is required for a purchase of over 50 euros a week. However, the verification process is brief and elementary.

Does BL3P have an API and where can I find the documentation?

Yes, BL3P has an API. Among other things, it allows you to place orders and withdraw euros and bitcoins. The documentation is available on GitHub.

Is BL3P licensed by the Dutch Central Bank?

No, Bitonic and BL3P have no license of the Dutch Central Bank (DNB). We have applied for a license as 'Payment Service Provider'. An official response from DNB shows that Bitonic does not require a license. Because Dutch banks do require a license, in our collaboration the structuring of Bitonic as a financial institution offers comfort towards the banks and users of BL3P. More information about the license application and our measures to be compliant can be found on our compliance page.

Verification process

Why do I need to verify before I can trade on BL3P?

The verification process is related to the structure of our organization as a financial institution and the corresponding laws and regulations. The process is intended to prevent fraud. If you want to buy (iDEAL) and sell (SEPA) bitcoins without an account or identity verification, we recommend to use bitonic.nl.

How can I verify my account?

You can verify your account in our verification system by filling in the required information and upload the requested documents. To verify your account we at least need the following documents:

  • Copy of your ID
  • Proof of residence
  • Bank statement or screenshot of your online banking environment (payments may be hidden)

If you have a business account, we need additional information about your organization. In the verification guide we describe the required information.

How can I take a screenshot on an Android or Apple phone?

Explanations for different Android smartphones or tablets can be found online. On an Apple (iOS) device, press briefly the home and sleep button.

How long does it take before my account is verified?

If you have completed the verification process and added all required documents, the request will be send to us. We aim to fulfill your request within 1 working day. You will receive an email when your application has been approved, or if we require additional documents.

Submit changes

Where do I change my email address?

Your account email address can be changed on your settings page (click or tap your username). You can also add an additional email address on which you will receive notifications. This email address will be used to receive confirmations at login, withdrawals and changes to the security options. If you can't login because you no longer have access to your email address, please use this form.

I forgot my password, how can I get a new one?

After a failed login attempt you will get the chance to try again or be given the opportunity to reset your password.

I lost access to Google Authenticator. How can I restore this?

If you have protected your account with Google Authenticator, but have no access to it anymore, you will have the opportunity to reset your account after a failed login attempt.

Changes have been made to my business entity. How do I inform BL3P?

If the changes concerns authorized entities, stakeholders or an address, this information should be transmitted to BL3P directly. This can be done by making changes in our verification system.

Trading

When can I start trading?

Once your account is verified, you can start trading. From this moment it is possible to deposit money or bitcoins and to enter orders.

How fast is BL3P?

The trading engine that processes all orders from BL3P currently has a processing speed of roughly 1000 trades per second. This is more than sufficient for the time being. We are monitoring the amount continuously to let the engine scale with increasing activity.

What does it cost me to trade at BL3P?

BL3P charges a percentage of trading fee per order. To prevent spam transactions we charge a flat fee of 1 euro cent per (partially) executed order (regardless of the number of trades). In addition, there are costs for depositing or withdrawing euros and cryptocurrencies. For an overview of the current fees see the fees page.

How do I buy or sell bitcoins?

On the trading page you can buy or sell bitcoins through a market or limit order. For both types of orders you can choose to use euros or bitcoins as the base of your order. If you opt for euros, fill in how many euros you want to spend or receive. BL3P will then automatically calculate how many bitcoins you need to sell or receive to realize this amount in euros. It works the same way if you use bitcoins as the base: then BL3P will calculate the corresponding amount of euros.

What is the difference between a market order and a limit order?

The option market order is enabled by default. You buy or sell bitcoins based on the current demand and supply. If you choose this option, BL3P will automatically fill in the current market price. This price is an estimate, with a market order you risk that someone trades faster than you. Or a supply can be removed, which means you will trade for a less favorable price.

If you want to set the price at which you buy or sell bitcoins, choose a limit order. With a limit order you are able to set your required price for selling or buying bitcoins. The limit order is entered into the order book. It is therefore impossible to predict how long it will take before your order is executed.

How do I cancel an order?

On the trading page under 'open orders' you can view and cancel your current orders. Canceling your open orders is possible until the time of fulfillment.

Depositing and withdrawing

What payment methods do you accept?
The deposit of euros is currently possible with an iDEAL or a SEPA transfer. In the future, we would like to offer other payment methods, but at the moment these are the only methods that we consider safe enough and which do not provide the ability of

chargeback. This is important because bitcoin transactions are irreversible. Of course there is also the possibility to deposit bitcoins.

How long will it take for my deposit to be credited?

How long it takes to credit your deposit, depends on the payment method you use. Below an overview:

  • Bitcoin
    Typically within 30-60 minutes: after 3 network confirmations the bitcoins are credited to your account. If you don't use enough miners fee, it can take a lot longer.
  • iDEAL payment
    Immediately after completing the payment.
  • SEPA payment
    The processing speed of your SEPA payment depends on the bank to which you are connected to. The speed of the process also depends on whether the transaction is made within the Netherlands or internationally. Generally, the deposit will be credited to us within two working days, after which we will directly credit it to your balance.
Why is my payment not processed?

If your payment is not processed, there may be several reasons.

  • Bitcoin: You have not added enough miners' fee. If you added little or no fee it may take long before the transaction is confirmed and credited to your balance.
  • iDEAL: the payment failed because of a problem at the bank.
  • SEPA or iDEAL: the account name we received from the bank does not match our records. If this is the case, we will investigate the deposit. If the difference is easy to explain, we will fix it and credit the deposit. Otherwise we will contact you and/or refund the amount.
  • SEPA: you exceeded your daily limit. If this happens by multiple deposits, the deposit(s) above limit will be automatically credited as soon as your daily (24h) limit is renewed. If you send a SEPA deposit which is larger than your daily limit on its own, we can't process it and may need to put the transaction on hold for several days. We will contact you if needed.
  • SEPA: the added description is not correct, the transfer will be reversed.
  • SEPA: your bank account has not been verified yet. You can add and verify the bank account here. After you've submitted the verification and we have verified it, the amount will be credited to your balance automatically. If you do not verify the bank account, we will refund the amount after about one working day.
  • SEPA: you made the deposit to the wrong account number. Should this happen, there is nothing we can do, you need to contact your bank.
Are there costs for deposits and withdrawals?

Yes, we charge a fee for both withdrawals and deposits. For an overview of the current fees see the fees page.

When will I receive my withdrawn money ?

How fast you will receive your withdrawn money, depends on the payment method and size of the amount:

  • Bitcoin
    Bitcoin withdrawals are processed automatically as long as our hot wallet allows it. Withdrawals up to 50 bitcoins usually are not a problem. Larger quantities sometimes have a delay up to several hours, this is a security measure. If you split the withdrawal, chances are the first one will get through directly.
    Withdrawals are grouped: a priority withdrawal can take up to 5 minutes before it's processed, a low priority withdrawal can take up to 15 minutes.
    Some wallets, exchanges in particular, require confirmations before the amount is credited. This can take up to a few hours.
  • SEPA
    SEPA withdrawals are processed multiple times a day. The processing of your SEPA payment depends on the bank to which you are connected. The speed of the process also depends on whether the transaction is made within the Netherlands or internationally. Generally, the amount will be on your account within two working days. For Dutch bank accounts this is usually within one working day, for bunq accounts the transaction is instant.
How much money can I deposit or withdraw in one day?

The daily limits for depositing and withdrawing euros and bitcoins can be found in your account on the deposit and withdrawal pages after selecting the method.

Can I change my bitcoin deposit address?

No, but you can create a new bitcoin address up to 10 times per 24 hours. Additionally, you can keep using old addresses.

Safety

How safe is my money at BL3P?

BL3P, the trading platform of Bitonic B.V. makes use of the Stichting Bitonic Payments. All of the customers' funds are stored and administered here. This foundation ensures the safety of the funds of the customer. There is no entanglement with the commercial activities of Bitonic BV.

How does BL3P ensure security?

Some of our security measures are described on the page security measures.

How do I take care of additional security?

BL3P takes care for a stable and safe platform. Nevertheless, as a user you can do a few things to ensure security of your account. Please read our security tips.

What happens to the account information and documents that I submitted?

These are used by us to identify you and to verify your account. After that, the data remains on our (encrypted) servers, because our operators need to be able to access the documents. However, in order to minimize risks, our administrative system is strictly seperated from our user environment and BL3P never uses cloud services for sensitive information. You should be aware that, in spite of our security measures, a leak of sensitive data cannot be fully excluded. Therefore we recommend using watermarks and hiding non-required information like social security number and bank transactions.