BCX review

BCX (Balkan Crypto Exchange) is run by Digital Asset Management d.o.o. Banja Luka, a company registered with the Banja Luka District Commercial Court in May 2018, and describes itself as the first cryptocurrency exchange in Bosnia and Herzegovina. It is one of two firms on the Republika Srpska Securities Commission's register of virtual currency service providers, entered under the code EPUVV-1/23 (the register spells the name Digital Asset Menagment), and the only one of the two with a public trading platform. It trades Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Tether and Ethereum Classic against the convertible mark.

What makes it useful is the funding. After identity verification you transfer KM from any bank in the country into a BAM wallet, with your name and a payment reference on the transfer, and buy once the deposit is confirmed: no currency conversion, no card surcharge, no SWIFT fee. The price of that convenience is the commission, 3.5 percent to buy and 4.5 percent to sell on a standard account, falling through VIP tiers with volume; crypto to crypto swaps cost 0.45 percent.

Its terms of business give it up to three working days to execute an order after payment arrives and promise KM payouts of up to 3,000 KM within 24 hours. Entry on the Republika Srpska register is a record with anti-money-laundering supervision rather than a licence, and it says nothing about the Federation, which has no crypto statute. The operator has also been on the receiving end of bank de-risking: in a decision of 16 November 2022, published in the Official Gazette of BiH 13/23, the Competition Council of Bosnia and Herzegovina fined the Banja Luka branch of Raiffeisen Bank BiH 250,000 KM for cutting the company's account off from transactions arising from digital asset trading, finding a prohibited agreement under the Competition Law and noting that no law forbids a company from trading in cryptocurrency.