A Dutch fact-check published on November 7 by Crypto Insiders concludes that the idea of crypto at an exchange being protected like savings is a myth. The Dutch deposit guarantee automatically covers bank-account money up to 100,000 euros per person per bank. According to the article, the Dutch central bank DNB says crypto such as bitcoin is not covered,.
The article points to the EU’s MiCA regulation as a different kind of protection. Licensed custodians must keep client crypto separate from their own assets, maintain a per-client administration and take measures against fraud, cyberattacks and negligence. Under Article 75, a provider is liable for losses from an incident attributable to it, capped at the market value of the lost crypto at the time of loss.
Crypto Insiders also cites Binance, which it says used about 7,500 bitcoin from its emergency fund after a recent attack and promised its own funds to replenish the stolen stock. The article notes Binance is not available in the Netherlands.
Voluntary schemes exist as well. Bitvavo’s Account Guarantee offers up to 100,000 euros for unauthorized access and withdrawals, but the article stresses it is not a deposit guarantee or insurance. It requires a police report, a claim within 90 days and an account with an authenticator app active for at least 30 days, and excludes payments made to scammers. Price losses are not compensated.
The verdict: licensed EU providers offer real protection, but not an automatic guarantee as with savings.
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