In this article, you will learn everything important about buying and selling cryptocurrencies with BISON. We explain how trading works, which amounts are possible, and what our cost structure looks like.
Definition: Cryptocurrencies are digital currencies with a cryptographically secured and decentralised payment system. Unlike traditional money, such as dollars or euros, a cryptocurrency exists only in digital form. The technical implementation of digital currencies is based on so-called "blockchains". Cryptocurrencies are seen as a new asset class and, unlike traditional money, are subject to greater volatility.
Trading Step - Buying and Selling Cryptocurrencies
With BISON, you buy the cryptocurrency of your choice directly. Trading with BISON is very simple and takes place via market execution (Market Order). This means your order is executed immediately at the currently best available price on the market. BISON is available to you 24 hours a day for buying and selling cryptocurrencies – even on weekends. You can also use the other functions of the BISON app without any time restrictions.
Open the BISON app and select the desired cryptocurrency from the market overview.
Click on "Buy" or "Sell".
Enter the euro amount or the quantity of cryptocurrency you want to trade.
Confirm your order. The crediting of the coins or the euro balance usually takes place within seconds directly in your portfolio.
BISON shows you bid and ask prices at which you can buy and sell. For cryptocurrencies, BISON uses reference prices from other crypto trading platforms. The prices at which you buy or sell securities are provided by the trading venues to which BISON is connected.
Shorting cryptocurrencies is not possible with BISON.
Investment - Minimum Amounts and Fractions
You don’t have to buy a whole Bitcoin or Ethereum to get started. With BISON, you can also purchase the smallest fractions, making entry especially flexible.
From 0.01 EUR: You can trade from a tiny amount of 1 cent.
No whole unit necessary: You can easily buy, for example, 0.001 BTC or 0.5 ETH. This allows you to invest exactly the amount you currently have available.
Maximum amounts: Depending on market liquidity and for security reasons, there are maximum order sizes. These are displayed to you directly when you enter your trading wish in the app.
With BISON, purchase and sale orders for cryptocurrencies are limited.
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Up to €500,000 per trade: Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Solana (SOL)
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Up to €250,000 per trade: Cardano (ADA), Dogecoin (DOGE)
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Up to €100,000 per trade: all other coins
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Up to €10,000 per trade: LRC, IMX, 1INCH, CVX, CRO, ANKR, BNT, CVC, GNO, NMR, STORJ, SUSHI, WOO, APE, ENS, MASK, BONK, WIF, JUP, POPCAT, PYTH
If you want to buy or sell cryptocurrencies for more than this amount, you can do so with multiple orders. The daily number of purchases and sales is unlimited.
Cost Structure - Transparency through the Spread
BISON waives complicated order fees, monthly custody fees, or fees for depositing and withdrawing euros. We finance ourselves exclusively through the so-called "spread".
What is the Spread? The spread is the difference between the buying and selling price of a cryptocurrency at a given time.
No hidden fees: The price you see in the app is the final price including the spread. No additional transaction costs are added on top.
Your advantages: Since there are no fixed flat fees per order, BISON is ideal for trading very small amounts because no minimum fees reduce your profit.
I Have a Problem Selling Cryptocurrencies
Sales Display "No Coins Available"
Question:
It shows me that I have zero coins available when selling, although I have corresponding amounts in the portfolio.
Solution:
The reason you see the amount as 0 is probably because you have an active Limit or Stop Order set. Please check whether you have cryptocurrencies blocked and delete them under "Orders" if necessary.
To change a business request with a price limit (Limit/Stop Order), you must delete the request to be changed and create it again under Orders.
Deletions of business requests can be made at any time via Orders, provided that no transaction has yet taken place. In this case, the blocking of the expected countervalue is lifted.