Frequently Asked Questions

Where and how do I get the app?

Initially, BISON will be available as an app for iOS (from version 9.0) or Android (from version 4.4) based smartphones. The App-Download is done via the common App Stores. A desktop or browser version is not yet available at the moment.

What are the fees for BISON?

BISON does not charge any fees. Read more about costs and fees at BISON here: https://bisonapp.de/en/gebuehren/

Do I invest with BISON directly in cryptocurrencies?

Yes, with BISON you buy directly the cryptocurrency of your choice.

BISON is powered by

Download now for free


General
 

What is BISON?

BISON is your reliable partner for trading cryptocurrencies and also the first crypto-trading app with the backing of a traditional stock exchange - Börse Stuttgart. We have set ourselves the goal of making trading in cryptocurrencies suitable for everyone. That's why using BISON is very simple: download the app, register, get verified, and transfer the money. You can then buy and sell cryptocurrencies in the BISON app.
 

BISON is the first "Made in Germany" crypto-trading app and is therefore offered completely in German.
 

Transparency and security are very important to us. The provider of BISON is based in Germany, is subject to German regulations and is therefore trustworthy and secure for the users.
 

With its Cryptoradar, BISON also offers a helpful and compact overview of the current market sentiment. However, every investor should decide on their own trading strategy.
 

Our motto: We are neither bull nor bear - simply BISON.

How does BISON work?

Using BISON is very easy - you don't need a wallet, a securities account or anything of the kind to work with BISON. Simply download the app, register, get verified, transfer money, and you can buy and sell cryptocurrencies in the BISON app.
 

BISON does not charge trading fees - it allows free-of-charge trading of cryptocurrencies. With BISON there are no transaction fees or similar charges. You get the price shown in the app. We earn money from the margin between buy and sell prices that we offer for cryptocurrencies.
 

BISON is smart - thanks to our Cryptoradar. Our artificial intelligence analyses Twitter to illustrate the market sentiment and opinion of the crypto-community for you.

Is BISON a cryptocurrency stock exchange?

No, BISON is not a cryptocurrency exchange. Your trading partner at BISON is always EUWAX AG, a subsidiary of Boerse Stuttgart GmbH, which sells cryptocurrencies to you or buys them from you.

What options do I have for using BISON?

1. Demo: After successful registration with your email address and a password, you can make virtual purchases and sales in the demo mode.

2. Real Money: After successful verification, you can buy and sell cryptocurrencies at BISON with real money (EUR).

What are the fees for BISON?

BISON does not charge any fees. If you want to know how we earn our money, you can read about it at "How does BISON make money?". Read more about costs and fees at BISON here: https://bisonapp.de/en/gebuehren/

How does BISON make money?

BISON does not charge any fees. BISON makes money from the margin between the buying and selling prices shown in the app.

Where and how do I get the app?

Initially, BISON will be available as an app for iOS (from version 9.0) or Android (from version 4.4) based smartphones. The app-download is done via the common app stores. A desktop or browser version is unavailable at the moment.

Will there be a desktop/browser version or an application for tablets in addition to the smartphone app?

A desktop or browser version as well as a tablet version are currently unavailable. However, we plan to develop these in the near future.

Is the BISON app also available in English?

BISON adapts to the language settings of your smartphone. If you don't have German as your selected language, BISON is available in English for you.

Will BISON also be available in other countries?

BISON will start in Germany. After the app's launch we will focus on other EU countries. If you would like to stay up to date on all BISON news and be one of the first to be informed about BISON's world trip, please subscribe to our newsletter, BISONews.

Is it possible to test a demo version in advance?

Yes, after successful registration (with an email address and a password) you can test BISON in demo mode. In the demo mode you can try out buying and selling cryptocurrencies without risk.

Can I buy cryptocurrencies from BISON through my online broker?

You cannot buy cryptocurrencies from BISON through your online broker. Simply download the app and buy and sell cryptocurrencies directly from your smartphone - without any complicated processes.

Where can I subscribe to the newsletter?

With BISONews we keep you regularly informed about exciting updates and insights about BISON. We will also keep you up to date about the most important news & innovations on the crypto market.

You can subscribe to our free newsletter, BISONews, here on our website.


Company
 

Who is behind BISON?

BISON is supported by subsidiaries of the Boerse Stuttgart Group. The provider of the BISON app is the EUWAX AG, a subsidiary of Boerse Stuttgart GmbH. The BISON app is developed by Sowa Labs GmbH, another subsidiary of Boerse Stuttgart GmbH. Blocknox GmbH, a subsidiary of Boerse Stuttgart Digital Ventures GmbH, is the fiduciary custodian of the cryptocurrencies.


Cryptocurrencies
 

Which cryptocurrencies can I buy and sell with BISON?

Currently, you can buy and sell Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP). Further cryptocurrencies are planned for 2019.

Do I invest with directly in cryptocurrencies when using BISON?

Yes, with BISON you directly buy the cryptocurrency of your choice.

Why can I only buy and sell selected cryptocurrencies with BISON?

We have selected the cryptocurrencies for BISON on the basis of current market capitalization and other factors. The cryptocurrencies meet our requirements and customer demand.

Where do the prices displayed in BISON come from?

BISON shows you the buying and selling prices at which you can trade your cryptocurrencies. BISON uses reference prices from other crypto-trading platforms.

Can I take a "short" positions on cryptocurrencies with BISON?

With BISON you can only buy the cryptocurrencies Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP) and sell them in the amount of your investment volume.

What can I do with my cryptocurrencies?

BISON is a pure crypto-trading app where you can buy and sell cryptocurrencies easily, quickly, securely, and free of charge. In addition, you can have your cryptocurrencies transferred to your own wallet.

What is the minimum amount for buying or selling cryptocurrencies in BISON?

To buy and sell cryptocurrencies with BISON you have to deposit at least 20 € into your BISON account - then you can start!

Do I have to buy a whole unit of a cryptocurrency at a time?

No, you can also buy partial units of cryptocurrencies. This works for BISON with up to eight decimal places. Just choose the amount you want. For example, you can buy your part of a Bitcoin for 10 €.

What is the upper limit for buying or selling cryptocurrencies in BISON?

At BISON, buy and sell orders are limited to 50,000 €. If you want to buy or sell cryptocurrencies for more than this amount, you can do this with multiple orders of up to 50,000 €. You can make as many purchases and sales as you like every day.

Do I need a wallet?

No, because we want to make it as easy as possible for you to buy and sell cryptocurrencies - without technical difficulties. BISON takes over the complicated technical part of the crypto world for you.

Can I transfer my cryptocurrencies (to and from the BISON app)?

Our goal is to make crypto-trading suitable for the general public and to lower the barriers to entry for everyone. A transfer of your cryptocurrencies to BISON is currently not possible. However, we are continuously developing BISON further and have this function in mind. A transfer of your cryptocurrencies bought in BISON to your own wallet is possible. If you have any questions regarding the payment of your cryptocurrencies, you can contact support@bisonapp.de.


Demo Mode
 

Which data do I need in order to register for the demo mode?

For the registration in BISON we only need your email address and a password of your choice.

What can I do in demo mode?

In the demo mode you can buy and sell cryptocurrencies with a virtual inventory of money as well as use other functions like the Cryptoradar.


Real Money Mode
 

What are the requirements for using the app with real money?

You are at least 18 years old.

You have an iOS (from version 9.0) or Android (from version 4.4) based smartphone.

You own a German bank account. It does not matter at which bank.

You have a residence in Germany.

You are a citizen of a country in the European Economic Area.

You only use BISON for private purposes.

You are not taxable in the USA.

How can I trade with real money?

In order to trade with real money, you must register in the BISON app and meet the requirements to use the BISON app. Then you have to verify your BISON account and transfer Euro to your BISON account.

How can I get verified?

For a verification of your BISON account, you have to start the verification (in the settings of the BISON app) and enter the required data. A short video call will then be made to verify the data you have entered. For this you need your valid identity card or passport. We recommend that you use your identity card for verification, as this is faster and less complicated.

If you verify your identity with your passport, you will also need a printed invoice during the video call, which must not be older than 6 months and must include your address.

At what times can I verify my BISON account?

You can verify your BISON account every day, even on the weekends from 08:00 - 24:00.

Why can't I verify my BISON account?

There may be several reasons for this. First, you must meet all the requirements to open an account for real money trading. Please see the requirements for using the BISON real money app. Furthermore, you can only verify your BISON account at certain times. Please check the times when verification is possible. We ask you to make sure that your Internet connection is sufficient for video identification. We recommend that you do this on Wi-Fi. We also require access to your camera and microphone during verification.

Why does the verification differ according to nationality?

Verification differs because the information required by law and the security features of the identity documents differ. These are necessary for successful verification.

What trading hours does BISON offer?

At BISON you can trade daily from 06:00 to 24:00 - even on the weekends.


BISON Account
 

Why do I send my money to solarisBank and not to BISON?

As an established German banking service provider, solarisBank is our partner and manages all euro balances at BISON. Therefore you send your bank transfer to solarisBank.

Who is solarisBank?

The solarisBank AG is an established German banking service provider. As our banking partner, it is responsible for payment processing and managing your free euro account at BISON.

Why do I have a account with solarisBank?

We want you to be the boss of your own money. This means that you can decide at any time in the BISON app what happens to your money on your BISON account. Your are entitled to the statutory deposit insurance up to 100,000 €.

Does my BISON account cost me anything?

No, your BISON account is free of charge. We also do not charge any fees for deposits or withdrawals.


Deposit
 

What payment methods does BISON support?

Currently, you can transfer money to your BISON account with a SEPA transfer. We are working on offering you even more possibilities.

How can I deposit money?

You can deposit money into your BISON account by making a bank transfer. After verifying your BISON account, you can click on "Deposit money" in the settings. You will then be shown the necessary information for your transfer.

From which accounts can I transfer money to BISON?

You can only transfer money from your personal bank accounts to your BISON account. Please note that the account holder of the BISON account and the account holder of the deposit account must be identical. Deposits from joint accounts are also possible.

How can you verify that the deposit comes from me?

Your BISON account has its own IBAN. If you transfer money to this IBAN, we can easily assign this deposit to you.

How much money can I deposit to my BISON account?

You can deposit up to 20,000 € to your BISON account per transfer. The monthly limit is 200,000 €. If you exceed these limits, your money will be refunded to you.

Why was my transfer rejected and returned?

There may be different reasons for this. First of all, you should check which accounts may be used to transfer money to BISON. You should note that there are also deposit and monthly limits for your deposits. If your transfer is still rejected, please contact BISON support via support@bisonapp.de.

Why is my deposit not displayed in my BISON account?

Please note that a bank transfer can usually take up to one business day. This depends on your bank. Then check again whethaer your data for the deposit is correct, especially the IBAN.

If this does not help, please contact the BISON support via support@bisonapp.de.

Does the deposit of euros cost me anything?

No, the deposit of euros is free.


Withdraw
 

How can I withdraw money?

Your available money on your BISON account can be easily withdrawn in the app. Just go to the settings under "Withdraw money". A payout can usually take up to three working days.

Why can't I change my withdrawal account?

Currently, you can only withdraw money to the account you last used to deposit. This is to secure your BISON account and to comply with legal requirements regarding money laundering and terrorist financing.

How long does it take to withdraw funds to my bank account?

The withdrawal of your Euros to your bank account can usually take up to three business days.

Why do I receive my money from solarisBank?

As a German banking service provider, solarisBank is our partner and manages all euro balances at BISON. For this reason, your money is also paid out by solarisBank.

Does the payment of euros cost me anything?

No, the payment of euros is free of charge.


Custody & Withdraw of Cryptocurrencies
 

Can I withdraw my cryptocurrencies?

Yes, you can have your purchased cryptocurrencies withdrawn in the BISON app. Just go to »Settings« and click on »Withdraw cryptocurrencies« under »Account«. Please note that if you enter a wrong wallet address, the withdrawal can no longer be reversed. It is not possible to reverse your withdrawal into the BISON app.

Does the withdrawal of cryptocurrencies cost me anything?

No, the withdrawal of cryptocurrencies is free of charge for you.

How long does it take to pay out cryptocurrencies?

The withdrawal of your cryptocurrencies can take up to three working days.

What do I have to consider when paying out my cryptocurrencies?

When you withdraw funds from BISON to your own wallet, we check the address you provide for common mistakes such as typos to keep you safe. Note that not all errors can be recognised, so please make sure that the address is correct nonetheless. This is just another layer of security on top of your caution. Because of these checks, not all address types of all currencies are supported. We support all common address types of Bitcoin and Litecoin (except for the rarely used Bech32 format starting with bc1 or tlc1) as well as all addresses of Ripple (XRP). Ethereum addresses must be provided in a format with checksum. If your address contains of digits and either lowercase or uppercase characters, it contains no checksum. We suggest you use another wallet that generates addresses with checksums or, if you really know what you are doing, add that checksum to the address manually.

Who stores my cryptocurrencies?

The safe storage and thus also the administration of your cryptocurrencies is overseen by the custodian blocknox GmbH on a fiduciary basis for you. This is a subsidiary of Boerse Stuttgart Digital Ventures GmbH. There, a multi-level security concept is implemented to secure your cryptocurrencies.

Does the storage cost me anything?

No, the storage is free of charge.


Cryptoradar
 

What is the Cryptoradar?

BISON's Cryptoradar is a sentiment based on artificial intelligence that analyzes more than two million tweets from the crypto community daily in real time for the investor. It filters them for relevance and prepares them visually. In a nutshell, you can imagine a barometer of opinions under sentiment. BISON's Cryptoradar thus shows you which tradable cryptocurrencies are currently being discussed hotly - without you having to follow thousands of tweets or messages.

How does the Cryptoradar work?

In essence, BISON's Cryptoradar is based on the approach of machine learning, a form of artificial intelligence. Imagine the following: every day, an algorithm automatically evaluates over two million crypto-based tweets. But it cannot do this without the input of the BISON team. The algorithm was "trained" over several years using training data to understand the semantics of messages and to classify tweets into one of three categories - positive, neutral or negative. In addition, each day the algorithm selects tweets that it cannot rate with 100% certainty. The algorithm then forwards these messages to our BISON team of experts who help the algorithm and tell it how to classify the messages. The algorithm remembers this information and abstracts it again in the next case. In the first step, two million tweets are checked daily for their relevance to the respective cryptocurrency. Tweets that do not add any value to the analysis (because they are either spam or similar) are filtered out. The remaining 250,000 tweets are classified by the BISON algorithm into one of the three classification categories. The result is BISON's Cryptoradar, which shows you the sentiment regarding the cryptocurrencies available in the BISON app.

What is Sentiment/Buzz?

In short, sentiment represents the opinion barometer in the crypto community and the buzz represents the number of people who spread their opinion about the respective cryptocurrency via Twitter. The better the average opinion about the cryptocurrency - more positive tweets - the further to the right the respective icon is placed in the Cryptoradar. The stronger the buzz of the cryptocurrency - larger number of tweets - the higher the icon is displayed. This simple representation allows you to see relatively quickly and easily what the current mood is towards Bitcoin, Litecoin, Ripple (XRP), or Ethereum.


Support
 

How do I reach BISON support?

Our BISON support is there for you. You can reach us via support@bisonapp.de.

I forgot my password, what now?

No problem. You can click on »Forgot your password?« in the BISON app when you log in and create a new password.

How can I change my password?

You can easily change your password in the BISON app. Simply go to »Settings« and click on »Change password« under »Personal information«.

How can I change my email address?

You can easily change your email address in the BISON app. Simply go to »Settings« and click on »Change email address« under »Personal information«.

How can I change my address?

Please contact BISON support via support@bisonapp.de with your request.

How can I change my last name?

Please contact BISON support via support@bisonapp.de with your request.

Please note that your first and last name must match the name in your bank account from which you wish to deposit.


 

How can I change my mobile phone number?

Please contact BISON support via support@bisonapp.de with your request.

How can I delete my BISON account?

We are sorry you want to leave BISON. To cancel your account, you need to send us an email to support@bisonapp.de with the cancellation information for your BISON account.

 

Please note the following:
 

Before we can delete your account, you must withdraw all funds (both euro funds and cryptocurrency funds) from your BISON account.
 

The email address from which you write to us about the cancellation must absolutely correspond to the one in your BISON account.


Taxes & Data
 

Does BISON pass on my data to companies and authorities?

We treat your data carefully and comply with the current legal requirements, such as the EU General Data Protection Regulation, the Federal Data Protection Act, and other applicable data protection regulations. In order to be able to offer the services in the BISON app, your personal data is required by EUWAX AG, blocknox GmbH and solarisBank AG. Furthermore, third parties are used as contract processors to provide services. Details can be found in the privacy statements of these companies.

If, in individual cases, official investigations and/or suspected cases of violation of the Money Laundering Act should arise, we will cooperate with the respective authorities.

Does BISON pass on my data to the tax authorities?

Passing of data to the tax authorities does not take place. Every BISON user is responsible for their own taxation.

Do I have to pay tax on my profits and how do I do that?

Based on a ruling of the European Court of Justice (ECJ), profits made from cryptocurrencies are only tax-free if there are at least 12 months between purchase and sale. Then, according to EU law, the so-called "tax exemption for foreign exchange" applies. However, if you have specific questions, please consult a tax advisor.

Does BISON support me with my tax declaration?

BISON shows you an overview of your purchases and sales so that you have a clear overview of your transactions.

We are also working on supporting you in such a way that you not only receive your transaction overview in an info report, but also a calculation of the realized profits and losses at BISON according to the FIFO procedure (First-In First-Out).

Please note, however, that this Info-Report is not legally binding. You will be responsible for the final check and specification in your tax declaration.

If you have specific questions about your taxes, you should contact a tax advisor.


Legal & Security
 

How are my cryptocurrencies stored?

The safekeeping and thus also the administration of your cryptocurrencies is taken over by the custodian blocknox GmbH on a fiduciary basis. This custodian is a subsidiary of Boerse Stuttgart Digital Ventures GmbH. The custodian has implemented a multi-level security concept to secure your cryptocurrencies.

On which stock exchange are the trades traded?

BISON is not a cryptocurrency exchange. Your trading partner at BISON is always EUWAX AG, a subsidiary of Boerse Stuttgart GmbH. It sells cryptocurrencies to you or buys them from you.

Is there a deposit insurance?

The deposit protection in the amount of 100,000 euro exclusively covers your euro balance with our German partner bank solarisBank.

Are my cryptocurrencies insured?

Your crypto assets are held in trust by blocknox GmbH, but are not insured by us or a third party. As these are cryptocurrencies, they are not covered by the German deposit insurance of Euro assets.

Is trading at BISON regulated and monitored?

No, it is not a regulated or supervised exchange trading. Furthermore, trading on BISON has nothing in common with trading securities on a public stock exchange.


Education
 

What are cryptocurrencies?

Cryptocurrencies are digital currencies with a cryptographically secured and decentralized payment system. In contrast to conventional money, such as dollars or euros, a cryptocurrency is only available in digital form. The technical implementation of digital currencies is based on so-called "blockchains". Cryptocurrencies are seen as a new asset class and are therefore exposed to greater volatility than conventional money.

What are Bitcoin, Ethereum, Litecoin, and Ripple (XRP)?

Bitcoin (BTC)

Bitcoin was released in 2009 and is the first and most important cryptocurrency. The inventor is a certain "Satoshi Nakamoto", whose real identity is unknown. Bitcoin consists of a monetary unit and a payment system. The digital currency (BTC) is created and managed in a global decentralized computer network using special software. The global system is based on a decentralized database in which all transactions are recorded in the form of a blockchain. Bitcoin gained worldwide attention due to its value growth in 2017.

More information: https://bitcoin.org/en/

 

Litecoin (LTC)

Litecoin (LTC) is a global and decentralized payment network comparable to the Bitcoin network. The main differences between Litecoin and Bitcoin lie in the area of technology. The transaction speed, the maximum offer of the respective coins, and the algorithm used should be emphasized.

More information: https://litecoin.org
 

Ripple (XRP)

Ripple (XRP) is an open-source protocol based on a public database. The Ripple network supports all major currencies. The XRP was released in 2012 and, unlike Bitcoin, is not based on the blockchain, nor can the coin be mined.

More information: https://ripple.com/xrp/

 

Ethereum (ETH)

Ether (ETH) is the internal means of payment for transaction processing for the global platform Ethereum. The Ethereum platform is used for Distributed Apps and enables the creation, execution and management of Smart Contracts.

More information: https://www.ethereum.org


 

Further Questions?

BISON

Follow us

Now free of charge and risk-free 

test in Demo-Mode

BISON is powered by

Download now for free