Bitpanda Review

bitpanda review

Bitpanda is a predominant exchange in Europe, suitable for newcomers who do not want to deal with overly complicated UI designs. It is one of the most widely used fiat gateways in Europe.

Recently Bitpanda launched Bitpanda Global Exchange, an advanced trading platform for experienced traders, professionals and institutions with advanced order types, order book, and advanced charting making it one of the better and fully packed trading platforms on the market.

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

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 1 million users and over 135 team members growing with time into one of the most popular bitcoin trading platforms in the heart of Europe.

Оne Million users entrust their money to Bitpanda, and this is no coincidence because the exchange has a very good security infrastructure and is constantly expanding its portfolio with new instruments. The platform prides itself on being one of the most secure and prominent in the crypto industry, leading in user experience and providing valuable services as a broker, trading exchange, and much more.

Traffic on the platform remains strong with around 1 million visits per month. Мost of which are from Germany and Austria, followed by the Czech Republic and Spain.

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:

As a diversified platform, Bitpanda has a lot to offer, from crypto to raw materials to fiat currencies. Here you have the opportunity to trade and exchange:

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

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

bitpanda-asset-page

The Bitpanda platform provides a basic function of direct buying and selling various assets and you will not find advanced order types like OCO. The main purpose of the exchange is to provide direct and fast access to the exchange from 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 Bitpanda’s two platforms are interconnected, you can switch freely from one to the other and use all deposit and withdrawal options to your advantage.

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Deposits and Withdrawals on Bitpanda

bitpanda-deposit

bitpanda-deposit-single-tab

Bitpanda is an exchange with many deposit options for both fiat and cryptocurrencies by allowing the deposit and withdrawal of more than 20 cryptocurrencies and 4 fiat currencies. Despite the wide range of crypto deposit options when compared to Binance or KuCoin, Bitpanda lags behind, but you still have a whole range of options here.

BTCETHXRPUSDTBCH
LTCEOSXTZXLMADA
TRXATOMLINKNEOIOTA
USDCDASHETCXEMZEC
BATZRXREPOMGLSK
KMDWAVESBESTCHZPAN

 

wallets

When it comes to fiat deposits and withdrawals, Bitpanda offers EUR, CHF, GBP and USD. Integrated deposit methods include Bank Wire, EPS, Debit and Credit Cards, Skrill, Neteller and more, with a minimum deposit of 25€.

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Trading fees breakdown

When buying Bitcoin, the fee is 1.49 % while it is not very high it’s still in the upper range considering that there may be additional fees from the payment providers you use for deposits while the fee for selling is 1.29%. The corresponding fee is included in the total price when you buy or sell a cryptocurrency asset.

Please note that there is a different fee for each deposit and withdrawal method. With so many options on the platform, you should consider how much it costs you to deposit fiat currencies. For example, depositing by debit or credit card can take up to a fee of 5%.

At Bitpanda Global Exchange, the fees are much lower because they are tailored to create an environment for day trading. Fees are calculated based on your trading volume and you can further reduce them if you decide to pay the fees with the BEST token (the platform’s native token).

 

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%

 

banner-panda

Bitpanda’s Security

Bitpanda takes security seriously and applies the highest security measures. In terms of licensing, the platform has a PSD2 Payment Service Provider license, which gives the broker the right to make fiat transfers legally. 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 storage

The KYC procedure is mandatory if you wish to deposit or withdraw fiat currencies. Fortunately, you can trade crypto without KYC, but with tight limits.

KYC on a licensed platform is positive as when something happens to your account, for example, you lose access to your email and password, you should be able to easily recover access to it.

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User Interface 

dashboard1dashboard2

Bitpanda’s fiat Gateway has a modernized and simplified user interface, designed for those who do not want to deal with complex menus and instruments. From the dashboard, you have direct access to everything needed in order to deposit, access portfolio view, and different asset tabs.

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

The dashboard shows the basic chart of your assets and information about your holdings. It has the option for you to open a price alert where you can set a target price or a percentage price change. You will be notified by e-mail as soon as the set target is reached.

global-exchange

global-exchange-balances-page

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

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Affiliate program

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

Is Bitpanda a scam?

Bitpanda is one of the exchanges that continues to invest in the security of its users. The fact that the number of user complaints is so low proves that Bitpanda continues to consolidate its position as one of the most prominent exchanges. The certification with a PSD2 Payment Service Provider license, which has over 1 million users and serves worldwide, shows that this user-friendly platform is reliable in a market full of shady platforms.

Conclusion

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

The presence of commodities is also a nice thing, as assets such as gold and silver, for example, have proven themselves throughout history. 

With the addition of Bitpanda Global Exchange to the package, the brand now serves a much wider audience by expanding its portfolio of instruments and options. The platform is one of the best known in Europe with one of the most beginner-friendly user interfaces in the industry.

 

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