Overview
BL3P was the long-running BTC/EUR exchange in the Netherlands. It operated smoothly for over a decade with low fees and strong compliance, before shutting down on December 20, 2024, and migrating users to Bitonic.
How It Started
Founded in 2012 by Bitonic B.V., BL3P stood out for holding Dutch bank accounts and enabling instant SEPA transfers. For many European traders, it was the easiest way to buy or sell Bitcoin safely. The platform stayed simple with only BTC/EUR and occasional LTC/EUR markets.
What Made It Different
- Flat 0.25% trading fee with no tiers
- Free SEPA deposits, tiny iDEAL fees, and low Bitcoin withdrawal costs
- Clean interface and API for automation
- Funds stored securely in a separate legal foundation
The Fee Model
BL3P’s fees were straightforward. Every trade cost 0.25%, euro withdrawals were about €1, and SEPA deposits were free. This clarity earned user praise, contrasting with bigger exchanges’ hidden costs.
Liquidity and Volume
Volumes stayed modest but steady for years, then dropped sharply by 2023. By early 2025, trading was almost nonexistent. The shallow order book made serious trading difficult, leading to its eventual closure.
Regulation and Trust
Operating under Dutch law with central bank registration gave BL3P strong credibility. User funds were protected legally, and compliance with AML rules was strict. Transparency and reliability were its hallmarks.
The Final Chapter
With new European regulations like MiCA, Bitonic chose to close BL3P. Trading stopped on December 20, 2024. Users’ funds moved to Bitonic, but the exchange itself was gone, leaving only account histories accessible.
Pros and Cons
- Pros: Strong legal framework; Low fees; Smooth euro transfers; Safe fund storage.
- Cons: Only BTC (rarely LTC); No mobile app; Liquidity dried up; Limited reach beyond the Netherlands.
Who Used It
BL3P was ideal for Dutch and EU traders who valued simplicity, safety, and easy euro integration. It was less suited for users seeking deep liquidity or many altcoins.
Final Thoughts
BL3P ended quietly after over a decade online. It was a trusted gateway to Bitcoin for many in Europe, remembered for doing one thing well and doing it safely. Now it lives on as part of Bitonic’s history.