Bitpanda is known for being an easy-to-use and straightforward platform, which makes it ideal for beginners who want to buy or sell crypto. Since its inauguration back in 2014, the platform has evolved quite a bit, which makes it suitable for intermediate and expert traders as well.
Offering an array of digital assets, 46 cryptocurrencies, four metal indices, and three unique crypto indices, it’s safe to say that there are several trading options available on the platform. Plus, the platform recently introduced a referral offer, where you can get paid a small amount of money by referring more people to the platform.
The offer allowed many people to begin their trades without investing their own money, giving them a chance to experience the platform before risking their own capital. You can get in touch with the customer support team or visit Bitpanda’s website to find out about similar offers that may be available at current.
At the beginning of our Bitpanda review, we noticed that everything from the signing up process to the cryptocurrency trade feature was extremely user-friendly and easy to get the hang of. So, as a newbie on the trading platform, you can expect a simple and easy KYC process paired with a highly intuitive and user-focused trading platform.
The key selling factor of Bitpanda is that it’s extremely easy to use. During our Bitpanda review, we noticed that the platform was specifically designed to simplify crypto trading and make it accessible for newbies.
Users can purchase crypto coins directly from the platform, 24 hours a day, throughout the week. The transactions made on the platform are fast and convenient, though, in rare scenarios, they may take some time. However, you can gain access to the customer support team that is always on its toes to help resolve any concerns or queries you may have.
Users can even create price alerts for the digital assets that they’re interested in. You can also set up a personal savings account to automatically purchase digital coins. So, the bottom line is that the platform offers numerous tools that are explicitly designed to support users throughout their trading journeys, making the platforms’ usability up to the mark.
If you’re interested in other user-friendly platforms, hop on to our website and read our Zeply review.
Bitpanda offers two main accounts; a regular account and a savings account. Both are highly secure and have a thorough verification process to ensure the user is who they claim to be. There are three subdivisions of the main account; a starter-level account, a bronze-level account, and a gold-level account. As you update your account, the daily buying and selling limits increase.
The account verification process for Bitpanda’s regular account requires you to provide your phone number, email address, and some form of ID along with a few more details. Following the provision of details, you’ll have to go through a video verification process with an accepted photo ID. This should be done with a proper internet connection on your phone or laptop. The majority of users use their passports as proof of identity, but some may also provide other forms of ID.
If your account is unverified, the only way you can buy or sell currencies is through a feature known as Bitpanda to go. However, for verified accounts, you can access all the available options and features on the platform. Once your regular account is set up and verified, you can also open multiple personal savings accounts with ease.
Users who register for a savings account can automatically purchase digital currencies and benefit from setting up multiple savings plans with maximum flexibility and freedom. Saving account users also get to take advantage of the cost-average effect. We felt that the major selling point for the saving account option is definitely the ease of investing without having to time the market.
The euro-based fintech platform offers users three unique trading platforms, each of which is designed to suit a specific segment of traders. The company’s main platform is Bitpanda Web, which is the most popular amongst the three available options. Bitcoin web offers a regular trading experience with numerous trading options as mentioned throughout their website. The remaining two platforms are Bitpanda To Go and Bitpanda Plus.
Bitpanda To Go
Bitpanda to Go offers traders the ease of purchasing cryptocurrencies in Austria through cash. Along with 400 post branches and 1300 post partners across Austria, Bitpanda To Go has revolutionized the purchasing of crypto as it allows traders to do so without owning a bank account or having to transfer fiat currencies to their accounts.
Users can access Bitpanda To Go even if their Bitpanda account is unverified. The purchase of crypto is made through vouchers that can be purchased from any supported location of Bitpanda. The vouchers are available for 50, 100, or 500 euros. You can find nearby locations through Bitpanda’s website.
The following platform is ideal for those who want exclusive trading services and higher trading limits. To get access to BitPanda plus, Bitpanda users can fill out a form requesting a particular increase in their trading limits along with all relevant and personal details. Once the form is submitted, the platform will get back to you.
Just like any other crypto broker, Bitpanda is dedicated to running a profitable business as well. The fees on the crypto brokers platform are slightly higher when compared to the market average; however, the trading experience is worth the added cost.
Below you can find the trading fee on the platform in detail:
Bitpanda premium trading fee
You can expect to pay a flat fee of 1.49% on cryptocurrency transactions, which is the same as Coinbase. The platform has built-in the premium fee, so it automatically adds to your total cost and the fee is updated based on the real-time market. Users can reduce the premium fee by 20% if they use the Best Tokens to pay their fee.
Bitpanda pro trading fee
If you choose to trade through Bitpanda pro, you’re in for a sophisticated trading experience that offers professional trading solutions and a fully automated trading process. The fee for trading is 0.1% for the maker and 0.15% for the taker. This fee could be reduced depending on your monthly trading volumes.
It’s important to keep in mind that you’re subject to paying a storage fee along with trading premiums if you’re trading metals. For gold, the trading premium is .05% for the buyer, and 1% for the seller. The storage fee for gold, on the other hand, is 0.0125% per week.
Similarly, for silver and platinum the trading premium for buyers is 2.5% and for sellers is 2%. You can expect to pay a storage fee of 0.025% per week. Lastly, for palladium, the premium for buyers is 2.2% and for sellers is 1.8%. You can expect to pay a storage fee of 0.025% per week.
Payment options available on the platform
The available payment options for verified accounts are SEPA, EPS, Giro Pay, SOFORT, Visa, MasterCard, NETELLER, and Skrill. Similarly, the Payout options for Euros include SEPA, Skrill, NETELLER, and Amazon.de. Some of the given options may require verification as well.
Overall, the customer service provided by the crypto broker is good. They have a dedicated help desk that offers a wide selection of explanatory guides. There is also a contact form through which the customer support team can be reached, or fellow users can be contacted through telegram.
That being said, we really felt that the platform lacks real-time support through email or live chat. However, that is slightly compensated as there’s a dedicated academy offering trading support and guidance to beginner and intermediate traders.
To get in touch with the customer support team, you can visit the website and click on ‘support’, which is located under the help category at the bottom of all pages on the website. You will be redirected to a form where you can submit queries and concerns along with any relevant attachments and specific details. The customer support team will then get back to you through your email address with an appropriate response in due time.
As soon as we visited Bitpanda’s website, we noticed it mentioned that the platform is fully EU-regulated and offers the highest level of compliance. Although the crypto broker is not yet regulated under any tier-1 financial authorities, this doesn’t affect the platform’s good reputation and reliability.
According to our Bitpanda review and other Bitpanda reviews we found across the internet, the crypto broker offers a pretty satisfactory trading experience to over a million users across the globe, and there aren’t any Bitpanda scams out there. In fact, Bitpanda was awarded for being a successful startup back in 2016.
We also noticed that if the metal investments carried out on the platform are 100% insured, traders are subject to an insurance fee as well. This ensures that your assets are secure and adds to the platform’s low-risk factor.
If you’re interested in other crypto brokers that are regulated and licensed under tier-1 financial authorities, you can visit our website to read relevant reviews such as our Binance review.
Bitpanda was inaugurated back in 2014, by three co-owners who realized that buying and selling crypto wasn’t as easy in Europe as it should be. Based on that idea, the platform was designed to make crypto trading as simple and easy as possible with the help of multiple innovative tools and features.
So far, the company has come a long way with nearly 2 Million users, as mentioned on their website. Most of the crypto brokers’ online reviews appear to be positive, and they take pride in being amongst the top crypto brokers across Europe.
A plus point of trading with BitPanda is that you get to invest in metals as well. You can swap your assets for four kinds of metals (gold, silver, platinum, and palladium), which are actually secured away in lockers and become yours upon purchase. Plus, these investments are insured for added security.
Overall the best part about Bitpanda is that it’s exceptionally user-friendly. The features and tools offered on the platform make crypto trading feel a lot easier than one would imagine.