Account types
At BLOX, you can choose between two types of accounts. These accounts are designed to match your goals and preferences. This way, you can easily pick the account that fits how you want to invest or earn with crypto.
The account you choose determines which features and services you can use. Each option comes with its own risks. Make sure to read the risk disclaimer that applies to your account.
You can only have one account at BLOX. However, you can change your account type at any time in your settings, so you always stay flexible.
Earn
With an Earn account, you can earn between 0.25% and 12.5% in returns. You make your crypto available to BLOX Earn. With an Earn account, your crypto is not held by Stichting BLOX Custody. The activities of BLOX Earn are not supervised by the Dutch Authority for the Financial Markets (AFM). An Earn account and the activities of BLOX Earn involve risks.
Custody
With a Custody account, your crypto and euros are safely held by Stichting BLOX Custody. This foundation keeps your funds separate from the assets of BLOX. This ensures your crypto and euros remain well protected. With a Custody account, you cannot use the BLOX Earn program. You therefore do not earn weekly returns on your crypto.
How does it work?
At BLOX, you choose the account type that best fits your needs and goals. Below is an overview of the different characteristics per account.
Earn | Custody | |
|---|---|---|
Storage | Your crypto Your euros | Your crypto Your euros |
Buying & selling | Buy crypto Sell crypto Transaction fees | Buy crypto Sell crypto Transaction fees |
Deposits | Deposit crypto | Deposit crypto |
Earn program | Return | Return |
Costs | No fixed fees. BLOX Earn achieves a higher return than the amount you receive. The difference is the fee for BLOX Earn and BLOX. | Subscription: €1 per month At €10,000 in crypto: 1% per year |
Want to change your account type?
Already have a BLOX account? You can change your account type in the settings of the BLOX app. Keep in mind that this affects how your crypto is held, the returns you receive and any applicable fees.
You can switch from an Earn Account to a Managed Account directly in the app once. Want to switch to a Managed Account again after that? Our Support team will be happy to help. You can switch from a Managed Account to an Earn Account at any time.
Frequently Asked Questions
Yes, to use all features of the app, you must first choose an account type. Each account has its own characteristics, risks, and costs, so you can pick the one that suits you best. You can always change your choice later.
To cover operational costs, BLOX charges fees for the Custody Account. For the Earn Account, no direct fees are charged. You always receive the agreed return, which you can find in the BLOX app and on the BLOX website. With the crypto that BLOX Earn borrows from you, BLOX Earn aims to generate a higher return within its risk management framework. If BLOX Earn generates a higher return, the difference is shared between BLOX Earn and BLOX. These proceeds are partly used to cover the operational costs of BLOX Earn.
A Custody Account costs €1 per month. If you have €10,000 in crypto in your account, you pay an additional custody fee of 1% per year on that crypto.
No, you can only have one account. However, you can change your current account type at any time to the type that fits you better.