Bitpanda Review

Bitpanda is a predominant exchange in Europe, suitable for newcomers who don’t want to deal with overly complicated UI designs. It’s one of the most used as a fiat gateway in Europe as the process of depositing and withdrawing funds is seamless.

Recently they founded the Bitpanda Global Exchange, an advanced trading platform for experienced traders, professionals, and institutions. The implementation of advanced order types, order book, and advanced charting makes it one of the best trading platforms on the market.

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Bitpanda Features Review

MarketsCrypto/Commodities
Supported countriesMajority of EU Countries
KYCAvailable as an option
LeverageNo
Deposits20+ Cryptocurrencies, Credit/Debit cards, Wire transfer, SEPA and more
Min. Deposit25
Max. Withdrawal LimitDepends on the account verification level
Trading fee0.1%
Supportlive chat
Mobile appiOS, Android

Reputation

Bitpanda was founded in 2014 by Eric Demuth, Paul Klanshek and Christian Trummer. Based in Vienna, Austria the platform boasts with 1 million users and over 135 team members, growing to be a popular trading platform based in the heart of Europe.

Оne million users are trusting the exchange with their money and this is not by chance as the exchange has very good security infrastructure in the background and continues to add additional instruments to its portfolio. The platform prides itself as one of the most secure and prominent in the crypto industry, leading player in User experience and providing valuable services as broker, trading exchange, Pay, Savings, Metals, Swap and more.

The traffic to the platform continues to be strong with around 1 million monthly visits. Мost of them are originating from Germany and Austria with the Czech Republic and Spain following respectively.

Options and Order types

bitpanda-prices-page

Being a diversified platform Bitpanda has a lot to offer from crypto to commodities and FIAT. Here you have the opportunity to trade and exchange:

  • BTC
  • LTC
  • ETH
  • DASH
  • XRP
  • BCH
  • BAT
  • and more

As for commodities, you can trade gold, silver, palladium, and platinum, which is a good option for those seeking exposure to traditional asset classes or simply portfolio diversification.

bitpanda-asset-page

The Bitpanda platform serves a basic function of direct buying and selling. You will not find advanced types of orders such as OCO. The main purpose of the exchange is the direct and fast access to exchanging crypto to crypto or from crypto to fiat.

At Bitpanda Global Exchange you will find the complete package of advanced instruments, but with a more limited set of pairs for trading. 

BTC pairs:

  • BEST/BTC
  • ETH/BTC
  • MIOTA/BTC
  • PAN/BTC
  • XRP/BTC

Euro pairs:

  • BTC/EUR
  • ETH/EUR
  • PAN/EUR
  • MIOTA/EUR
  • XRP/EUR
  • BEST/EUR

Since the two platforms of Bitpanda are connected to each other, you can freely switch from one to the other and use all deposit and withdrawal options to your advantage.

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Deposits and Withdrawals 

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bitpanda-deposit-single-tab

Bitpanda is an exchange with many deposit options for both fiat, and crypto. It allows for depositing and withdrawing 20+ cryptocurrencies and 4 fiat currencies. 

Despite the wide range of crypto deposit options when you compare it to Binance or KuCoin, Bitpanda lags behind, nevertheless, you have quite a few options here.

 

BTCETHXRPUSDTBCH
LTCEOSXTZXLMADA
TRXATOMLINKNEOIOTA
USDCDASHETCXEMZEC
BATZRXREPOMGLSK
KMDWAVESBESTCHZPAN

 

bitpanda-wallets

When it comes to fiat deposits and withdrawals, Bitpanda offers EUR, CHF, GBP, and USD.

The integrated depositing methods include Bank Transfers, EPS, Debit and Credit cards, Skrill, Neteller and more, with the minimum deposit being 25€.

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Trading fees breakdown

When purchasing bitcoin the fee is 1.49% which is not super high, it’s still in the upper range if you consider that there may be more fees coming from the payment providers that you use for the deposit. The sales fee is 1.29%, which is the higher range. The corresponding fee is included in the total price when you buy or sell a cryptocurrency asset.

Note that there is a different fee for each deposit and withdrawal method. With so many options on the platform, you would need to consider how much it will cost you to deposit Fiat currencies. For example, a debit/credit card deposit can cost up to 5%.

On the Bitpanda Global Exchange, the fees are much lower as they are tailored to day trading. The fees are calculated based on your trading volume and you can reduce them furthermore if you decide to pay the fees with the BEST token (The native token of the platform).

Levels30d trading volumeMaker feeMaker fee (when paid with BEST)*Taker fee Taker fee (when paid with BEST)*
1≥ 0 BTC0.1000%0.0750%0.1000%0.0750%
2≥ 100 BTC0.0900%0.0675%0.1000%0.0750%
3≥ 2500 BTC0.0800%0.0600%0.1000%0.0750%
4≥ 1000 BTC0.0700%0.0525%0.0900%0.0675%
5≥ 5000 BTC0.0600%0.0450%0.0800%0.0600%
6≥ 10000 BTC0.0500%0.0375%0.0700%0.0525%
7≥ 20000 BTC0.0500%0.0375%0.0600%0.0450%
8≥ 50000 BTC0.0500%0.0375%0.0500%0.0375%

 

bitpanda-banner-panda

Security

Bitpanda takes security seriously and implements the highest security measures. On the licensing side, the platform has a PSD2 Payment Service Provider license, which gives the broker the right to perform fiat transfers. 

Bitpanda is one of the few exchanges that has never experienced a breach or loss of user funds.
The security standards in place are:

  • 2FA Google authentication
  • SMS verification
  • Cold and Hot storages

The KYC process here is mandatory if you want to deposit or withdraw fiat currencies, fortunately, you can trade crypto without KYC, but with tight limits.

KYC on a licensed platform is positive. If something happens to your account, in most cases, you can easily recover it. 

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User Interface 

bitpanda-dashboard1 bitpanda-dashboard2

Bitpanda’s fiat gateway has a modernized and simplistic UI, made for those who don’t want to engage in complex interfaces and instruments. On the dashboard, you have direct access to everything needed for depositing, portfolio view, and asset tabs.

At the bottom of the dashboard, you’ll find a detailed view of your portfolio and the fiat wallet. The design is beginner-friendly with fast and easy buying or selling in mind. 

The dashboard shows the basic chart of your asset and information of your holdings.
It comes with the possibility to open up a price alert where you can set a target price or a change in price in percentage. You will be notified via email upon reaching the set target.

The UI is one of the least customizable on the market.

The only difference that you can make in the UI is the chart, to make it advanced one with a lot of important charting instruments.

It all comes down to personal preferences when it comes to the chart.

Bitpanda standard platform is a great alternative for people who don’t want to be bothered with complex instruments and order types.

bitpanda-global-exchange

bitpanda-global-exchange-balances-page

Bitpanda Global Exchange has a completely different and much more advanced UI with the purpose to enable advanced trading with a suitable environment for institutions and professionals. The design is following the standard pattern of advanced trading platforms with order tab on one of the sides, order book, detailed chart, and markets on the other side. This addition creates an environment that supports long trading sessions.

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Affiliate program

The affiliate program is very simple. You’ll get up to 20% of the paid fees by your referrals, depending on the total trading volume. Otherwise, they also have a Tell-a-Friend option for regular users where you will receive 10€ if your friend registers, verifies their account and makes a deposit of at least 25€ and trades a minimum of 25€.

Is Bitpanda a scam?

Bitpanda is one of the older exchanges that continue to reinvest in their user safety and satisfaction.
Having such a low amount of user complaints proves that it continues to strengthen its position as one of the most prominent exchanges. Certified with a PSD2 payment service provider license, having over 1 million users and serving in almost the whole world, it shows that this user-friendly platform is a reliable one in a market full of shady platforms.

Bitpanda Review Conclusion

Bitpanda serves as a good FIAT gateway, especially if you prefer to have a lot of options on the table. It’s a good and reliable entry point with a wide variety of cryptocurrencies and fiat options.

The presence of commodities is also a nice touch as for example assets like gold and silver have proven themselves through history.
With the addition of Bitpanda Global Exchange to the package, the brand now serves a much broader audience and expands its portfolio of instruments and options. The platform is one of the best known in Europe with one of the most beginner-friendly in the industry.

Pros / Cons
  • 4 FIAT currency available
  • UI friendly to newcomers
  • Available options for advanced traders
  • Lack of UI customization

Bitpanda is a newbie-friendly platform that provides a good and secure place for exchange.