Impact of the Binance Rejection by the Dutch Central Bank on Cryptocurrency Trading in The Netherlands

by Prosper

The cryptocurrency exchange landscape in the Netherlands has been undergoing considerable changes recently. As regulatory measures have tightened, many platforms are finding it difficult to continue operations. Binance, previously a significant player in the Dutch market, had to halt its operations due to a license application rejection by the Dutch Central Bank (DNB). This scenario is a signal for potential future implications for other platforms like KuCoin, Kraken, and ByBit, which currently do not hold regulatory approval from the DNB. Amidst this shifting landscape, Prosper emerges as a beacon of reliability, fully compliant and regulated, offering enhanced security, competitive fees, and a broad array of cryptocurrencies. This blog post will explore why Prosper should be your go-to platform for trading cryptocurrencies in the Netherlands.

Regulated by Dutch Authorities

Prosper takes pride in its full compliance with Dutch regulatory requirements. This adherence to Dutch laws and regulations creates a secure, transparent, and trustworthy trading environment. Knowing that your investments are protected under Dutch law brings a peace of mind that sets Prosper apart in the current crypto exchange landscape.

Enhanced Security Measures

In a world where cyber threats and hacking incidents targeting crypto exchanges are increasingly prevalent, safeguarding user assets is paramount. Prosper recognizes this and has implemented robust security measures to protect your digital assets. Utilizing advanced encryption techniques, and cold storage for funds, Prosper provides a high level of security to protect your assets from unauthorized access and potential breaches.

Lowest Fees in the Market

One of the compelling reasons to choose Prosper over other exchanges is its commitment to offering the lowest fees in the market. Conversely, Prosper stands out with its competitive fee structure, with rates as low as 0.03%, allowing traders to maximize their returns by reducing transaction costs.

User-Friendly Interface

Designed with user experience in mind, Prosper’s interface is intuitive and user-friendly, simplifying trading for both novices and seasoned traders alike. The straightforward functionality of the platform allows users to navigate and execute trades with ease, focusing on making informed decisions rather than navigating complex features.

Wide Range of Cryptocurrencies

Recognizing the importance of portfolio diversity in the world of cryptocurrencies, Prosper offers an extensive selection of tradable assets. From popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), to a wide array of other digital assets, Prosper ensures that users can diversify their portfolio and take advantage of various investment opportunities in the crypto market.


The crypto exchange landscape in the Netherlands is evolving, marked by stringent regulatory requirements leading to Binance’s exit due to a license application rejection by the DNB. In this climate, platforms like KuCoin, Kraken, and ByBit may face challenges due to their lack of DNB approval. Amid these changes, Prosper offers a regulated, secure, and cost-effective alternative. With its compliance with Dutch authorities, robust security measures, low fees, user-friendly interface, and wide selection of cryptocurrencies, Prosper is an appealing platform for both experienced traders and newcomers. Choose Prosper as your trusted, licensed crypto exchange to experience secure trading with minimal fees in a fully compliant environment.


Frequently asked questions

How do I create an account?

Sign up for a Free Prosper account in less than 10 seconds. No passport verification needed:

  1. Go to Create Account

  2. Fill in the required information

  3. Tap on Create account

  4. Done, you now have an account

Deposit up to €250 and start trading immediately! Verify your identity to increase deposit and withdrawal limits.

What are the fees?

Prosper's trading fees are the lowest in the industry. Create a Free account and start trading crypto for as little as 0.03%. There is no minimum volume commitment. The minimum order size is €10.

How do I verify my identity?

After creating an account you can verify your identity. This process is fairly simple and can be completed in less than a minute.

  1. Go to Account

  2. Tap on Identification

  3. Tap on Verify identity

  4. Follow the steps on screen

  5. Done, in a few minutes your identity will be verified

During identity verification you’ll be asked to make a selfie photo and a photo of your identity document (e.g. passport).

Please note: that all submitted pictures must be of the actual physical document (e.g. passport). Taking pictures of a screenshot will be automatically rejected, requiring you to start over.

How do I add a payment/payout method?

Payment and payout methods are considered the same. Currently we support iDeal and SEPA. We intend to add more payment methods in the coming months.

When you do a deposit, your payment method is automatically saved and connected to your account. To do a deposit follow the steps below:

  1. Go to Create

  2. Tap on Deposit

  3. Tap on Fiat currency

  4. Enter the amount you wish to deposit

  5. Tap on your desired payment method and follow the selected steps below:

I’ve chosen iDeal

  1. Select the bank you wish to use to deposit

  2. Tap on Deposit with iDeal

  3. Follow the steps in your banking app or website

  4. Done, you will automatically be returned to Prosper after the payment

iDeal deposits have a maximum of €10.000 per transaction. The balance is reflected within 1-3 business days in your Prosper account after a successful payment.

I’ve chosen SEPA

  1. Create a new SEPA payment in your banking app or website

  2. Copy and paste the bank information

  3. Copy and paste the payment description. Please note: without this your payment will be automatically returned to your bank account.

  4. Verify the payment details

  5. Transfer the amount as you would normally

SEPA deposits have a maximum of €50.000 per transaction. The balance is reflected in your Prosper account within 1-3 business days.

How long does it take to receive a payment into my account?

Prosper currently supports iDeal and SEPA. We intend to add more payment methods in the coming months.


iDeal payments reflected within 1-3 business days in your Prosper account after a successful payment. There is a limit of €10.000 per transaction.


SEPA payments are reflected in your Prosper account within 1-3 business days. There is a limit of €50.000 per transaction.

How long does it take to payout to my bank account?

Bank payouts are performed with SEPA.

Typically it takes 1-3 business days for your withdrawal to be received on your bank account.

Please note that during weekends and bank holidays payments are not processed by the banks. You can create withdrawals, however they will be processed on the next business day.

How secure is it?

We work with industry leading partners such as Chainalysis and Comply Advantage to detect fraud, money-laundering and terrorist financing.

We are registered and regulated by the Dutch Central Bank (DNB) as a cryptocurrency provider. 

All our data is encrypted and stored on cloud-based systems.

Can I change my account type at any time?

You can change or cancel your account type from Standard to Pro at any time. To change your account follow the steps below:

  1. Go to Account

  2. Tap on Subscriptions

  3. Tap on any of the subscriptions to change your subscription or downgrade it to free

  4. Tap on Confirm to confirm your choice

Subscriptions are paid up front per 30 days. If you change your subscription before the end of your subscription period, you forfeit the remaining amount of your subscription fee.

Sign up for Free

Trade crypto at the lowest 0.03% fee to start saving on your trades!