Former DEGIRO team launches revolutionary crypto platform Finst
- With the lowest rates in the Netherlands
- Amsterdam-based Finst B.V. today launched its services to retail investors after successfully obtaining registration as a Crypto Service Provider from De Nederlandsche Bank (DNB).
- Finst introduces a new transparency-focused cryptocurrency platform with unique capabilities and maximum security to bridge the gap between retail and professional investors.
- Retail investors can now open their account in less than 5 minutes and invest securely from desktop or mobile with no minimum amount and at 82%* lower fees than the average fees of 8 major other platforms.
- Finst aims to become Europe's largest and most trusted cryptocurrency platform within 5 years thanks to a unique combination of transparency, security and the lowest rates in the market.
Amsterdam - Jan. 9 marks the beginning of a new era for cryptocurrency investors in the Netherlands. A decade after revolutionizing equity trading by extremely lowering costs, former DEGIRO co-founders and ex-core team, announce the launch of a unique investment platform in a crowded, yet opaque high-cost cryptocurrency market.
With Finst, individuals can now start investing within minutes, benefit from a highly secure, user-friendly and innovative trading platform, with the lowest transaction costs in the Netherlands: 0.15% per transaction without any minimum amount, minimum volume or added spread.
A €1000 transaction in Bitcoin would thus mean only €1.50 in transaction fees at Finst, which is on average 82%* cheaper than at the other major Dutch providers.
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NextGen platform aims to radically transform the way people invest in crypto
Stock trading of a few decades ago exhibits similar problems to the crypto industry of today. Extremely high and hidden trading costs, over-promising or just too limited platforms, a lack of trust and transparency, to name a few.
Finst was created to solve these shortcomings and radically improve the way people invest in digital assets with a unique platform built by professional investors and highly experienced technical teams.
The web and mobile interfaces are designed to give investors complete control and make their experience clearer, safer and more transparent. Regardless of knowledge and experience, anyone can now benefit from unique advanced trading features made simple, at a fraction of the cost charged by other providers. In the first release, investors can spread their assets across 30 popular coins, trade EUR 24/7 with ultra-fast execution, follow the market with real-time news and quickly grab opportunities with free iDEAL deposits. In the coming weeks, the offering will expand to 55+ major coins.
Finst research shows that a large proportion of investors find it difficult to track their transactions and understand their performance over time. Finst solves both problems by offering Europe's most advanced portfolio analytics and industry-leading activity reports. This helps users understand exactly how much profit and loss they have made without performing complicated calculations themselves. Additional services will be added in the coming months, including on-chain strike, price alerts, new order types and a unique passive investment solution.
Finst leans on decades of experience and possesses institutional-level security standards
More than ever, crypto investors need a provider they can trust, one that puts security, transparency and reliability at the top of its priority list. To provide customers with maximum security, Finst partners with the world's leading wallet management provider, Fireblocks, and stores all customers' digital assets in a separate entity. All customers' money is held at the Dutch regulated bank Bunq. In addition, Finst has embedded institutional risk management in all its operations to mitigate counterparty, IT and human risks.
Maria Gallo, Chief Compliance Officer & Board Member: "The digital asset industry needs to improve in terms of security, transparency and risk management. A significant number of providers operate without regard to regulations, act against their customers and are opaque about some of their own activities. Among other things, having a structure where customers' assets are separated from the provider's assets should also become the norm in the crypto industry. We have invested significantly in security and corporate governance to provide our customers with a trusted and reliable platform."
Finst aims to become Europe's largest crypto platform within 5 years
With more than 1.9 million crypto investors, the Netherlands has shown a high acceptance rate for digital assets in recent years. Thanks to its experienced management team, unique positioning and a rare combination of extremely low costs with an advanced platform, Finst caters to both active traders and long-term investors and aims to become the largest crypto platform in Europe within 5 years.
Julien Vallet, Co-founder and CEO:
"We are excited to launch a crypto platform that will truly benefit all types of investors and set the highest standards in the industry. Unlike many providers, we do not trade against our customers, do not charge hidden fees in the form of spread, and do not engage in risky activities such as coin lending. In the past, we have proven that it is possible to offer a reliable, high-quality and secure investment platform at exceptionally low cost and we will do the same with Finst."
DNB supervises Finst B.V.'s compliance with the Money Laundering and Terrorist Financing Act (Wwft) and the Sanctions Act 1977. Finst B.V. is not under prudential supervision by DNB nor under conduct of business supervision by the AFM. This means no supervision of financial requirements or business risks and no specific financial consumer protection.
* Average difference based on publicly disclosed transaction costs by 8 providers registered with De Nederlandsche Bank based on public information available as of 16-12-2022, excluding any promotions, incremental discount, maker/taker discount or additional costs such as spread. See finst.com/en/fees for the full comparison.
About Finst
Finst is an Amsterdam-based crypto fintech that offers a best-in-class investment platform along with institutional-quality security standards and the lowest trading costs in the Netherlands. Finst is backed by a co-founder and led by the former core team of DEGIRO, Europe's leading online broker, and is registered as a Crypto Service Provider with De Nederlandsche Bank (DNB). Finst aims to become Europe's largest cryptocurrency platform by enabling both active traders and long-term investors to benefit from the same opportunities and tools as professional investors.
Conclusion
We recently signed up with Finst and everything works quickly, easily via an app and with the ability to pay via iDeal. We will continue to keep a close eye on this exchange, but in terms of timing it is interesting now that many exchanges are under fire this party really wants to try to regain consumer confidence.
Meer informatie over andere cryptocurrencies: Cardano (ADA)
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