Established in May 2012, Bitonic is the oldest Bitcoin exchange in the Netherlands and specializes in Bitcoin-transacted purchases through its iDEAL and Bancontact divisions.
For its part, Bitonic.nl is itself a consultancy and cryptocurrency news service that also runs BL3P, a major European cryptocurrency exchange.
Bitonic is not only one of the oldest and most well-established cryptocurrency companies in the world but also works in partnership with the Dutch government to seize and store cryptocurrency used for illicit transactions.
The name Bitonic itself comes from an anagram of Bitcoin.
At present, Bitonic mainly focuses on the buying and selling of Bitcoins through the medium of the Euro fiat currency. As the leading cryptocurrency exchange in the Netherlands, Bitonic has a lot of traction in the wider European trading community but differs from other exchanges in that it does not hold coins for the user, relying upon the purchaser to instead transfer their cryptocurrency into a digital wallet or other location.
Initially developed as an easier online way to purchase Bitcoins in Europe, Bitonic’s pioneering efforts are now quite copied throughout the industry and the company hasn’t kept up in others. One area that is glaringly disappointing for Bitonic is its lack of an app as of press. Most exchanges have some kind of iOS or Android app support but Bitonic has eschewed this approach entirely, a curious move for a company known for its forward-thinking ways.
That said, for customers in the Netherlands, Bitonic is a premier service and a go-to company. Outside of that, though, the company’s services might not meet every consumers needs.
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