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.
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.
Earn
With an Earn account, you can earn between 0.25% and 12.5% in returns. You make your crypto available to Coinmerce Earn. With an Earn account, your crypto is not held by Stichting BLOX Custody. The activities of Coinmerce Earn are not supervised by the Dutch Authority for the Financial Markets (AFM). An Earn account and the activities of Coinmerce Earn involve risks.
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.
Custody |  Earn | |
|---|---|---|
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 | Subscription: €1 per month At €10,000 in crypto: 1% per year | No fixed fees. Coinmerce Earn achieves a higher return than the amount you receive. The difference is the fee for Coinmerce Earn and BLOX. |
*You can change your account type at any time in your account settings.
What does this mean for my current BLOX account?
I currently use the Earn program
Are you currently using the Earn program for (part of) your crypto? Then your existing agreement with Coinmerce Earn will be terminated once you make a choice for one of the accounts.
If you choose the Earn account, you enter into a new lending agreement with Coinmerce Earn and all your crypto will be provided to Coinmerce Earn again. You will once again receive returns on your loaned crypto.
If you choose a Custody account, you will no longer receive the returns you currently earn within the Earn program, and your crypto will be stored by Stichting BLOX Custody from the moment you make your choice. From that date, you will start paying the monthly fees.
I am currently not using the Earn program. My crypto is stored with Stichting BLOX Custody
If you’re not using the Earn program now and choose an Earn account, all your crypto will be loaned to Coinmerce Earn and you will receive the agreed return. If you choose a Custody account, your crypto remains with Stichting BLOX Custody. From the moment you choose a Custody account, the monthly fee will apply.
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 Coinmerce Earn borrows from you, Coinmerce Earn aims to generate a higher return within its risk management framework. If Coinmerce Earn generates a higher return, the difference is shared between Coinmerce Earn and BLOX. These proceeds are partly used to cover the operational costs of Coinmerce 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.
Yes, you can change your account type in your settings. Please note: you can only switch directly from an Earn account to a Custody account once. If you want to change it again afterward, our Support team is ready to help.