Bitpanda is an Austrian broker that focuses on making investing in cryptocurrency more easy and convenient. They have been since 2014 and make it possible to buy over 30 digital assets using easy payment methods. This broker is suitable for novice traders, but also for advanced traders because of the Pro section. In this Bitpanda review we look at the platform, check if it is safe to trade here and give a final score. On this page you also have the opportunity to leave your own review with our rating system.
Create a free Bitpanda account
| More than 30 cryptocurrencies available|
High fee of 1.49% per transaction
Pay with easy payment methods
User-friendly portal and no technical knowledge required
For every trade at Bitpanda you pay a standard fee of 1.49%. This means that your investment will lose 1.49% of value when you buy something. Unfortunately you always have to pay some trading fees, but you can save a lot when you choose a broker who charges less fees. We want to recommend the Bitvavo exchange where you pay a maximum of 0.25% fee per transaction. They also support all easy payment methods, have built-in wallets for 58+ coins and have a great reputation in Europe. Click below on Activate Deal and trade the first € 1000 for free at Bitvavo.
Trade € 1.000 for free at the Bitvavo Exchange
What is Bitpanda?
By the name, you might think that it has something to do with China, but it is not the case because it is an Austrian broker focused on cryptocurrency trading that was launched in 2014. Bitpanda is a renowned exchange that offers the possibility to store, buy, and sell a large number of cryptocurrencies securely through its web platform or mobile application. With close to a million registered users, it has become one of the most extensively used brokers in Europe.
The project was born in a startup format with the work of its three founders including Philipp Kinsky (legal issues), Andreas Petersson (security), Pius Sprenger (investments), and with the collaboration of the Austrian authorities.
In the beginning, it was called Coinimal and its purpose was to facilitate cryptocurrency transactions in the Eurozone. This cryptocurrency broker claims to be the European leader in its digital transaction platform. It provides trading of the main instruments of the cryptocurrency market, such as Bitcoin, Ethereum, Litecoin and Ripple.
At the end of November 2017, the Bitpanda service supported and implemented SegWit wallets and transactions. SegWit is a technical upgrade of the Bitcoin blockchain protocol, which creates the basis for future improvements in the network, in particular, reducing transaction fees and increasing scalability.
Hence to summarize, we could say that Bitpanda is a platform, with which we can buy or sell crypto through a large variety of payment methods such as:
- SEPA Bank Transfer (1-3 business days and free)
- EPS (0.25 EUR + 2%)
- GiroPay (0.25 EUR + 2%)
- Mastercard and VISA (1.50%)
- NETELLER (0.90 EUR + 3.60%)
- Skrill (1 EUR + 3.60%)
- SOFORT (1.99%)
Advantages of Bitpanda
Why should you choose Bitpanda?
- Digital asset exchange for professional traders, market experts, and organizations from 54 countries.
- Access to market data in the real market through the API, setting up trading bots, direct transfers through the global network.
- 30+ digital assets including Bitcoin, but also gold and silver.
- A lot of different fiat currencies are supported: EUR, CHF, GBP or USD.
- A great variety of methods for depositing and withdrawing fiat money.
- Exchange euros into digital currency with IBAN (International Bank Account Number).
- Good customer service.
- Different services like: Pro, App, Savings and Pay.
Create a free Bitpanda account
How to create a Bitpanda account?
In this Bitpanda review we will guide you on how to create an account at this exchange. Registration on the platform is fast, easy, and free. Simply access the official website and press the Get Started Now button to access the account creation form. You must enter your name, country, email, and a password. To finish, press the button Create Account.
You will receive an email with a confirmation link to activate the account. Once activated, the next step will be to answer a series of questions about your financial situation (employment status, annual income, etc.). This data is completely confidential and its sole use is intended to comply with the AML5 regulation against money laundering.
To finish, you must choose between a personal or business account. To start making transactions it is necessary to verify the account. There are two verification options to choose from: Light and Full.
Fill in your real personal data and make sure you enter them correctly as you won’t be able to change them later. Choose between ID or passport and click Continue. Upload the document and wait for your account to be verified (they usually take less than 24 hours).
How does Bitpanda work?
Bitpanda offers a good selection of cryptocurrencies that you can buy immediately on the website. After your purchase the crypto will be sent to your wallet. It is very easy to buy or sell some crypto:
- Log in to your account
- Verify your account
- Deposit money with your favorite payment method
- Click on a cryptocurrency and exchange your credit for crypto
Bitpanda supports more than 10 ways to pay for your cryptocurrency, among which credit card, debit card, bank transfer, EPS, GiroPay, Neteller, Sofort, SEPA, Skrill and cash (Bitpanda To Go).
A huge advantage is that the company also enters other markets, like gold and silver. Selling gold, silver, precious stones and cryptocurrencies in one place is the dream of every investor who does not want to go through complicated investment procedures. At the exchange office, you can exchange real gold, silver, palladium and platinum. All goods are stored in Swiss safes. In addition, the first 20 grams of gold, palladium and platinum and 200 grams of silver are without any maintenance costs.
Bitpanda is a versatile platform. Even, on the homepage, it publicizes itself as offering “all cryptocurrencies in one place’’. The number of supported cryptos on the Bitpanda exchange is truly exciting. You can trade big-names like Bitcoin, Litecoin, and Ripple.
Verifications and limits
Bitpanda offers two types of verification methods: Light verification and Full verification. With the Light verification you can trade and swap all cryptocurrencies on the platform and you can pay and withdraw using bank transfer. With the Full verification you can use all features and services on the platform. It depends on the country where you live if the Full verification is possible.
In the overview below you can see the current limits for both user types.
Users have limits subjected to their payment method. When you become fully verified you can have access to following limits
- Neteller and Skrill provides 10.000 EUR deposit limit to its verified users in 24 hours
- Credit card, Ideal and Zimpler user’s deposit limit is 2.500 EUR in 24 hours
- SEPA Provides 49.999 EUR deposit limit to its verified users in 24 hours
You can find a complete list of limits and payment options here: https://www.bitpanda.com/en/limits
When buying cryptocurrencies you have to take into account that you need to pay fees. The fees at Bitpanda are not that competitive and relatively high in our opinion. The indicated fees for the purchase and sale of cryptocurrencies are 1.49% per transaction. The price information is updated in real-time, so the amount does not require additional mathematics to display the amount that you pay. These rates already include the commission of 1.49%.
You pay cryptocurency deposit and withdrawal fees, based on the amount of crypto. You can find the overview here: https://www.bitpanda.com/en/limits
For some transaction methods, like credit cards, you pay a transaction fee. You will see the exact amount when you complete your order.
When investing in gold, silver, palladium or platinum you pay a weekly storage fee.
In comparison, you pay the same transaction fee at Coinbase (which is also an expensive broker), but there are a lot of brokers who charge less fees. We advice you to use a cheaper broker since the cryptocurrency you will receive is everywhere the same. The Bitvavo exchange charges a maximum of 0.25% fee for every transaction and you can buy up to 58 different cryptocurrencies. As a welcome bonus you can even trade up to € 1.000 for free.
Trade € 1.000 for free at the Bitvavo Exchange
What is Bitpanda Pro?
Bitpanda Pro is an advanced digital asset exchange for institutions, professionals and businesses where they can trade and connect trading bots to their API to facilitate automatic trading. The Bitpanda Pro exchange is fully regulated and is compliant to AML5. The same account for Bitpanda can also be used on Bitpanda Pro. If you are already verified from Bitpanda then you don’t need to be verified again for Bitpanda Pro.
Advantages of Bitpanda Pro:
- More features
- Advanced charts
- Lower fees
- API integration
Fees for Bitpanda Pro are as low as 0.15% depending on the volume of your trade the higher your trade, the lower your fees become.
Create a free Bitpanda account
Is Bitpanda safe?
The Bitpanda team values security. It uses the most advanced technology for secure transactions. These include DDOS protection, secure offline wallets, state-of-the-art servers and secure vaults. Bitpanda provides not only security but also reliability of operations, guaranteeing users proper control over their means. At the same time, the service is regulated by the EU and operates in accordance with the AML5 directive, which allows the user to feel more secure.
Security is not only the responsibility of the company, but also of the user. Bitpanda also provides and facilitates the use of two-factor authentication. You can always go to your account page to manage your devices, including the ability to view active sessions and devices, as well as the ability to log out and close current sessions from other devices. Always use a strong and unique password for all exchanges where you register an account.
Concluding this Bitpanda review we could say that Bitpanda is a safe broker and easy to use for customers of all levels. It allows you to buy and sell various cryptocurrencies, and investors who want to trade with a very large amount of fiat currency may prefer this program.
This brokerage is safe and facilitates built-in wallets that have several notable security features. The platform did not suffer from any serious security breaches, and generally enjoys a good reputation among its users. The disadvantage of Bitpanda is the trading fee of 1.49%.
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Frequently asked questions Bitpanda
What are the fees at Bitpanda?
You pay a fee of 1.49% for every transaction. Bitpanda also charges an extra fee for other services, like storing gold or payment methods.
Which payment methods does Bitpanda support?
Bitpanda supports EPS, GiroPay, Mastercard and VISA, NETELLER, Skrill, SOFORT, Zimpler, iDEAL and SEPA Bank Transfer (1-3 business days).
Does Bitpanda offer a built-in wallet?
Yes, you can buy up to 30+ cryptocurrencies which all have their own unique wallet.
How can I contact the support?
The customer service can be reached by email (email@example.com).