SATOS review

SATOS review

Satos.eu is a platform where you can easily buy cryptocurrency by using iDEAL or Bancontact. Satos started out as a hobby website, but has now grown into a fully-fledged company with the goal: to make the use of cryptocurrencies as easy and accessible as possible for all of Europe. The company is located in Lelystad and is registered under the name Satos B.V. Later in our SATOS review we do a thorough investigation into the Chamber of Commerce data of this company. The range currently consists of only five different coins, but according to the company, this will grow strongly in the future. In our SATOS review we look at the platform, we investigate its reliability and we give a final judgment. On this page you also have the opportunity to leave your own experience via our rating system.

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Only 5 cryptocurrencies

Pay easily with iDEAL or Bancontact

Costs between 1.5% and 2.5% (expensive!)

No built-in wallets

Fast support and quick answer

Cheaper alternative to SATOS

Are you planning to trade more or do you think it is a shame to pay high trading costs? If the answer is yes, we recommend trading with the Bitvavo Exchange. Here you pay a maximum of 0.25% trading costs and you get your own wallet for all 50+ cryptocurrencies. The trading costs with SATOS are between 1.5% and 2.5%, so for some trades almost ten times higher. If you register as a new customer with Bitvavo via the button below, you can trade the first € 1000 at no extra cost.

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€ 1,000 FREE trading at Bitvavo

Do not pay any trading fees at Bitvavo for 7 days. A maximum of € 1000 in digital currency applies.

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Calculation example

Suppose you buy € 100 in Ripple via the SATOS platform, you will receive € 97.50 in XRP and you pay € 2.50 in service costs. When you make the same transaction through Bitvavo you will receive € 99.75 in XRP and you only pay € 0.25 in service costs. With the current Bitvavo promotion, you now even receive € 100 in XRP.

What is Satos?

Satos.eu is a cryptocurrency trading platform where you can easily buy cryptocurrencies. They offer more and more different coins and ultimately try to make the offer as complete as possible. We look closely at the top 100 of Marktkapitalisatie.nl.

Satos is a Dutch company that strives to make cryptocurrencies accessible to everyone. At Satos, customer satisfaction is high on the agenda and they do everything they can to make every customer a satisfied customer. Keep in mind that the costs on this platform are very high and that you do not receive your own wallets. Read the Satos review quickly for more information about these brokers, such as what they do, the costs and the verifications.

What does the company do?

The SATOS office in LelystadThe company is mainly engaged in offering cryptocurrencies that can be bought and sold through the platform. One of the most common methods of buying cryptocurrencies is to first buy Bitcoin or Ethereum and exchange them for other cryptocurrencies on an exchange, such as Binance. This has the advantage that you as a user pay a low fee, but it can be a complicated and technical job for the novice user. Still curious? Check out how Binance works here.

Satos wants to do something about this by making it easier and more user-friendly by offering payment methods such as iDEAL and Bancontact. In addition, you do not have to buy Bitcoin first at Satos, but you can immediately buy your desired crypto currency.

What can you expect from Satos?

If you buy your cryptocurrencies with this platform, you can count on excellent customer support, fair prices that are close to the market price and possibly additional guidance. They want every customer to be satisfied. To get this done, they go the extra mile when it comes to customer service and questions are answered fairly quickly. According to Trustpilot, they already have more than 1400 satisfied customers and the SATOS experiences have been rated with a 9+.

The website generally looks simple, and we don’t mean that negatively. For the novice user it is immediately clear what the intention is. There is also a video on the homepage explaining how the platform works, so you can get started quickly. It is even possible to place an order directly via the homepage. They also tell you about the way of working and what they would like to do for you. You therefore immediately know where you stand.

Satos website update January 2020

At the beginning of the year 2020, Satos has completely updated its website. We will of course also update our Satos review. Not only has the URL from Satos.nl changed to Satos.eu, but the overall look and feel has also changed. This is mainly due to the fact that they are now really targeting the whole of Europe and offering the website in different languages. Besides the fact that the website looks completely different, they now also offer a lot more information. For example, you can now go to the website for the latest cryptocurrency news, you will find a crypto knowledge base and you can view the current prices.

Unfortunately, the consumer pays for these costs and SATOS has raised the rates considerably. According to the website they charge a maximum of 2.5%, but according to our own calculation there are peaks to 2.9%. Our advice is to opt for cheaper alternatives such as Bitvavo or Bitcoin Meester.

New website SATOS

The website has a nice modern look and is a good reflection of the professionalism of the company.

The SATOS range

Satos would like to be able to offer as many cryptocurrencies as possible. So far, the following coins are available from this company:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Ripple (XRP)
  • Bitcoin Cash (BCH)

For the aforementioned cryptocurrencies, it is both possible to sell and buy them through this platform! Unfortunately, the offering has remained pretty much the same over the years (they have only removed ZCash from the range.). So it doesn’t look like you can go to Satos for a wide range.

If you want more choice, we recommend Bitvavo or Bitcoin Meester. We hope to update our Satos review in the future to add more cryptocurrencies.

How can you buy or sell cryptocurrency at Satos?

If you want to buy cryptocurrency at Satos, you can place an order from 100 euros. After entering the amount you can click on Get started to continue. On the next page you can adjust the amount again and choose the payment method. You can choose from iDEAL and Bancontact. Select your bank below and enter your Bitcoin wallet address, for example. If you don’t have a wallet yet, Satos will help you create a wallet. Satos does not host wallets itself and never will. They believe that everyone should manage their own private keys.

Enter your e-mail address, accept the terms and conditions and click Proceed to pay to complete the order. If this is your first order, there must be a verification. This means that you must send a video of yourself with a number of assignments to the company, together with a copy of your ID. Keep in mind that this will be requested from you after payment.

If you do not want to perform this verification, you can request a refund, where costs will be charged for the miner fee, exchange costs (back to euros), return costs of € 15 and the volatility of the exchange rate..

Buy cryptocurrency from Satos

SATOS crypto buy widgetUnlike similar platforms, you don’t have to create an account here. You can simply enter your desired amount, place your order, enter your wallet address and email address and then pay.

After verification, the purchased crypto will be visible in your wallet as soon as possible (depending on transaction time). Generally, the transactions are passed through after verification. In some cases you may be asked for additional information.

Selling cryptocurrency with Satos

Selling is also easy. You select the coin you want to sell and then the amount. The current price that Satos is willing to pay for your coins is automatically entered. Then click on Start sale. Your order will then be executed automatically and the money will be paid to your bank account. All you need to enter is your IBAN and your name.

It can take up to 3 days for the money to be in your bank account as it is done by bank transfer. Especially if you are at the same bank as Satos, this generally goes a lot faster.

Verifications and limits set

SATOS is supervised by De Nederlandsche Bank (DNB) and is an official financial institution. This means that they have to take care of who they are doing business with and where the invested money comes from. To achieve this, an introductory video verification must take place after you have paid. You make this video yourself in which you carry out a number of assignments, such as who you are, why you buy crypto and from which company. In addition, your proof of identity and your face must be clearly visible and a copy of your identity document is also requested. This video is manually checked by the team during opening hours.

In addition, in some cases you may be asked for proof of wealth, account verification or proof of registration at your address. This additional information is requested when your investment exceeds the set limits.

At Satos you can place an order of up to 50,000 euros per transaction. This verification has been created to prevent risky or fraud-sensitive customers / orders. After this, no further verification takes place and the cool-down period is canceled.

Prices, costs and fees at SATOS

No other costs are charged for the use of the platform, apart from the fees and transaction costs of the relevant crypto coins. This earnings model is used by almost all brokers. The broker makes a profit by charging a slightly higher price than the current market price. The difference is the profit and from this they can maintain the platform and provide support. The use of the platform is also free!

We have compared the current market price (source: CoinMarketCap) with the price that this party charges.

Coin

Market price

SATOS Price

Fairy

Bitcoin (BTC) € 9,219.64 € 9,382.72 1.76%
Ethereum (ETH) € 208.19 € 212.22 1.9%
Bitcoin Cash (BCH) € 409.34 € 421.14 2.9%

These prices are a snapshot and were set in February 2020. It only gives an indication of the fees that are charged and can differ at any time of the day. During our comparison in 2019 (for the new website), the rates were at least half lower. 

SATOS now also shows the costs on the website. For buying cryptocurrency, between 1.5% and 2.5% is charged (with peaks to 2.9% apparently). Selling Bitcoin is charged less than 1%, but the rates for selling altcoins are also between 1.5 and 2.5%.

Always do your own research into which broker is the cheapest at the time you want to buy. You will find an overview of all brokers here.

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€ 1,000 FREE trading at Bitvavo

Do not pay any trading fees at Bitvavo for 7 days. A maximum of € 1000 in digital currency applies.

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SATOS reliable and Chamber of Commerce information

SATOS is a company from Lelystad and is registered under the name Satos B.V. This Private Company was incorporated on 24-03-2016. In order to conduct a thorough investigation as possible, we have requested paid Chamber of Commerce extracts from this company to see who is behind it.

Of course we do not show any personal information, such as telephone numbers and first names. These data are accessible to everyone at the Chamber of Commerce and are public information (after payment). Satos has the holding BITNED BEHEER B.V. as self-employed director, of which the following companies / persons are the self-employed directors:

  • Romy Ventures B.V. (65658469), where ER Driessen is the independently authorized driver
  • Coincorp B.V. (65658434), where EH Driessen is the independently authorized driver
  • TB Chamber Ventures B.V. (65658388), where TB Kamer is the independently authorized driver

The company can be visited by appointment at Zilverparkkade 71 in Lelystad. At the moment they have helped more than 1000 customers and we can confirm that SATOS reliable is. The support team is available from 09:00 to 22:00 for questions and guidance on buying or selling cryptocurrency.

Satos is a simple platform that does exactly what they say. You can buy and sell your cryptocurrencies very easily. Buying is quick and easy via iDEAL or Bancontact and selling via bank transfer. No additional verification is required for relatively low amounts. Only when you want to invest large amounts or have them paid out will you be asked for additional information. Satos does this to prevent money laundering and to comply with laws and regulations. Satos has become more expensive over the years and charges a commission of up to 2.9%. This means that you are in the negative immediately after purchase and that is unnecessary. There are plenty of alternatives that charge a lower commission, such as Bitvavo.

There are currently relatively few cryptocurrencies on offer, but according to the website they are busy offering multiple cryptocurrencies in the future!

Have you bought something from Satos and would you like to share your experience? This can be done via the assessment form below.

5

5.0 score

5 out of 5 stars (based on 6 ratings)

Excellent100% Good0% Average0% Bad0% Very bad0%

Contact details:

Satos B.V.

Zilverparkkade 71

8232 WK Lelystad

Chamber of Commerce number:

65743954

+31 320 32 00 36

[email protected]

iDEAL and Bancontact

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Product Range:

Bitcoin (BTC)

Litecoin (LTC)

Ethereum (ETH)

Ripple (XRP)

Bitcoin Cash (BCH)

All Satos.nl reviews:

5.0 score

March 14, 2020

Nice and easy design. 15 minutes payout took longer for me, but that of course also has to do with the pressure on the blockchain. They do what they promise in a very easy way.

Luuk

5.0 score

August 24, 2019

Good support and low costs

Josh

5.0 score

June 1, 2018

Good review!

Dirk

5.0 score

May 13, 2018

Buy low costs and cheap cryptocurrency. Absolutely great

WJ

5.0 score

May 11, 2018

Very good experience with Satos. Didn’t need customer service because everything is just plain. Always the cheapest to buy bitcoin, even with smaller numbers.

Frank

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Frequently asked questions SATOS

What are the trading fees with SATOS?

The trading fee for buying cryptocurrency is between 1.5% and 2.5% (variable). Selling cryptocurrency costs between 0.7% and 2.5%.

Which payment methods does SATOS offer?

You can pay at SATOS with iDEAL, Bancontact and bank transfer. No extra costs are charged for this.

How long does a payout take?

Sometimes a check takes place at the first payout. When you are fully verified, a payout takes place almost instantly between 10:00 and 22:00.

What is the minimum investment?

The minimum investment for Bitcoin is € 50 and for altcoins the minimum investment is € 10.

I also receive a wallet?

No, this broker does not provide built-in wallets. You must provide a wallet that supports your currency.

How do I get in touch with customer service?

You can contact us by e-mail ([email protected]), telephone (0320 32 00 36) or via the contact form.

How many cryptos does SATOS offer?

You can only purchase 5 different cryptocurrencies here.

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