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CRYPTO DISCONTINUATION ON BUX
AND MIGRATION PROCESS


WHY IS BUX DISCONTINUING CRYPTO?

BUX is being acquired by ABN AMRO Bank, one of the largest banks in the
Netherlands. This acquisition does not include BUX crypto activities. After
thoroughly evaluating our crypto operations, we concluded that discontinuing and
offering clients to transfer them to a trusted third party is the only feasible
option.

Read the press release


WHAT ARE MY OPTIONS IF I STILL HAVE CRYPTOCURRENCY POSITIONS AT BUX?

If you still have a cryptocurrency position at BUX, you can choose one of the
following two options:

> Option 1: Migrate your Crypto positions to Coinmerce
> 
> Effortlessly and free of charge

BUX has entered into a collaboration with Coinmerce. Coinmerce is a
DNB-registered Dutch crypto trading platform, which focuses entirely on user
friendliness to provide its users with a safe, educational and simple
experience. Coinmerce has 350+ assets so you can keep all your current crypto
positions (except for the BUX Token) by migrating them to Coinmerce effortlessly
and for free.

All you need to do for this is give us your consent by following the link from
the email you have received or from the popup in the app and agree to the terms.
Your positions will be migrated to Coinmerce as soon as possible. If you haven’t
received the email or can’t find it anymore, feel free to reach out to our
Support team via the app or via support@getbux.com email. They will gladly
assist you further in the process.

Learn more about Coinmerce

> Option 2: You can sell your Crypto positions on the BUX platform up to and
> including March 18, 2024

If you do not wish to migrate your crypto positions to Coinmerce, you can also
sell your crypto positions on the BUX platform yourself. This option remains
available up to and including March 18, 2024.


FAQ


CAN ALL MY CRYPTO POSITIONS BE MIGRATED TO COINMERCE?

All your crypto positions can be migrated to Coinmerce except BUX Token.


WHAT HAPPENS IF I HAVE NOT MIGRATED OR SOLD MY CRYPTO POSITIONS AT BUX BEFORE
MARCH 19, 2024?

If you did not sell your crypto positions before March 19, 2024 and you haven’t
been migrated to Coinmerce at that time, we will still migrate your crypto
positions to Coinmerce in the week thereafter. Just like the normal migration
process, you will then receive an email from Coinmerce to complete your
onboarding process with them.


WHY DID BUX CHOOSE COINMERCE AS A MIGRATION PARTNER?

BUX has chosen Coinmerce as their trusted partner in this process. Some of the
reasons for this choice are:

 * Coinmerce has a registration with the Dutch regulator, the DNB;
 * Coinmerce offers trading in more than 350+ crypto assets;
 * Coinmerce offers competitive fees ranging from 0.2% to 0.5%, down from 0.5%
   at BUX;
 * Coinmerce offers very competitive spreads;
 * Coinmerce has agreed to grant every BUX user that holds 1,000 BUX Tokens a
   twelve-month waiver of transaction fees;
 * Coinmerce allows you to deposit or withdraw crypto to or from their platform.




HOW DOES THE MIGRATION ACTUALLY WORK?

The migration process is executed in the background in six steps, but all you
need to do is give your consent and finish a few onboarding steps at Coinmerce
to log in to your new account. Below is an overview of the steps to give you an
idea of the process.

 1. You grant us your consent to share some basic KYC data with Coinmerce and to
    migrate all your crypto positions to Coinmerce. We have sent you an email
    with a link to give consent.
 2. After you give consent, we share your KYC data with Coinmerce. We do this in
    bulk at the end of each day. BUX takes care of this.
 3. As soon as Coinmerce has received the KYC data, your account will be
    created. This takes a few hours. Coinmerce takes care of this.
 4. BUX will then migrate your assets to Coinmerce. Coinmerce will then send you
    an email within one or two hours to finish creation of your account. 
 5. The email from Coinmerce to you contains a link to finalise your account
    creation with Coinmerce. This only involves a few remaining simple steps.
 6. After completing the last few steps to onboard, you can log in to your
    account and your crypto assets will already be waiting there for you.


WHEN WILL MY CRYPTO POSITIONS APPEAR IN MY COINMERCE ACCOUNT?

Shortly after your crypto positions have been redeemed from your BUX account,
Coinmerce will send you an email to finish your onboarding process with them. At
the time of receiving this email, your crypto assets are already waiting for you
in your Coinmerce account. All you need to do to access them is finish the
onboarding process with Coinmerce.


UNTIL WHEN CAN I SELL MY CRYPTO POSITIONS ON THE BUX PLATFORM?

If you do not wish to migrate to Coinmerce, you can sell your crypto assets on
the BUX platform up to and including March 18, 2024. Crypto trading in the
BUX-app will be fully disabled on March 19, 2024. If you still own
cryptocurrency positions at that time, BUX will still migrate them for you to
Coinmerce platform. Coinmerce will create an account for you and email you to
finish onboarding with them.


CAN I WITHDRAW MY CRYPTO FROM THE BUX APP TO ANOTHER CRYPTO PLATFORM?

No, BUX has chosen Coinmerce as their trusted partner in this process. The only
other option is to sell your cryptocurrency positions yourself on the BUX
platform before March 19, 2024. However, you will be able to withdraw your
crypto from the Coinmerce platform. Coinmerce does support this functionality.


CAN I ALSO MIGRATE CASH?

Coinmerce supports euro deposits and withdrawals just like BUX. However, it will
not be possible to migrate euro from BUX to Coinmerce. BUX will only support
crypto migrations to Coinmerce.


HOW WILL MIGRATING MY POSITIONS TO COINMERCE AFFECT MY P&L AT BUX?

Since your crypto positions will be migrated and not sold, the P&L on your
crypto positions is effectively transferred to Coinmerce. Unfortunately, the
‘all time’ metric will no longer be accurate for your account. We are working on
a way to fix this for you in the future.


WHAT IF I ALREADY HAVE AN ACCOUNT AT COINMERCE?

If you already have an account at Coinmerce, you can still give consent for the
migration. Coinmerce will send you an email upon receiving your crypto assets.
Instead of asking you to finish creation of a new account, Coinmerce will simply
ask you to log in to or to reactivate your existing account.


WHAT WILL HAPPEN TO THE BUX TOKEN UTILITY?

As a consequence of the full discontinuation of BUX Crypto, BUX will also
discontinue the BUX Token utility on March 19, 2024. This means the utility will
remain applicable up to and including March 18, 2024. As a gesture of goodwill,
BUX will grant every user that holds at least 1,000 BUX Tokens in the BUX app as
of December 18, 2023, a twelve-month waiver of the monthly service fees at BUX,
amounting to €2,99 per month. This waiver will go in effect in April, 2024.
Additionally, all BUX Token holders with at least 1,000 BUX Tokens in the BUX
app as of December 18, 2023, will also receive a twelve-month waiver of
transaction fees on Coinmerce if they choose to migrate from the BUX platform to
Coinmerce.

For more information on the terms and conditions of this waiver, please
check https://coinmerce.io/en/need-help/bux/ or reach out to Coinmerce directly.


WHAT WILL HAPPEN TO MY BUX TOKENS AFTER MARCH 18, 2024?

If you do not submit a valid withdrawal request before March 1, 2024, BUX will
remove the BUX Tokens from your BUX account after March 18, 2024. This is
anticipated to happen before April 1, 2024. For more information about how to
withdraw your BUX Tokens, please see the question ‘Can I withdraw my BUX Tokens
from the BUX platform to an on-chain wallet?’. 


CAN I WITHDRAW MY BUX TOKENS FROM THE BUX PLATFORM TO AN ON-CHAIN WALLET?

If you want to withdraw the BUX Tokens from the BUX app to your own on-chain
wallet, you need to arrange this by providing customer support with your wallet
address by email (support@bux.com) before March 1, 2024. BUX will charge €25 for
processing this request and this cash amount needs to be available in free cash
on your BUX cash account on March 1, 2024. The risks for the BUX Token
withdrawal are for your own account. BUX cannot advise you about this or be held
liable for this. BUX will process your withdrawal request as soon as possible
and before April 2024. If BUX Alternative Investments did not receive your BUX
Token withdrawal request including the designated wallet address by email at
support@bux.com before March 1, 2024, or if the required cash is not freely
available on your account on March 1, 2024, BUX cannot transfer your BUX Tokens
to another wallet and will remove the BUX Tokens from your account as per March
19, 2024.


I WANT TO CLOSE MY ACCOUNT BUT I STILL HAVE BUX TOKENS.

If you want to close your BUX account but you still have BUX Tokens on your
account, you will need to ask the support team for a ‘waiver-form’ to forfeit
your BUX Token position to BUX and submit it to the customer support team. BUX
will then remove all BUX Tokens from your BUX account before closing it.
Alternatively, you can wait for BUX to remove the BUX Tokens from your BUX
account after March 18, 2024. This is anticipated to happen before April, 2024.


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Investing involves risks. Trading in digital currencies involves risks. You can
lose your deposit.

The investment services of BUX for shares, ETFs are provided by BUX B.V. BUX
B.V. is registered with the Dutch Chamber of Commerce in Amsterdam under number
58403949. BUX B.V. is authorised and regulated by the Dutch Authority for
Financial Markets (Autoriteit Financiële Markten – AFM).

BUX B.V. does not provide investment advice and individual investors should make
their own decisions or seek independent advice. Investing involves risks. The
value of investments can go up as well as down and you may receive back less
than your original investment or lose your entire investment.

Apple, the Apple logo, iPod, iPad, iPod touch and iTunes are trademarks of Apple
Inc., registered in the US and other countries. iPhone is a trademark of Apple
Inc. App Store is a service mark of Apple Inc.

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