Strong points
Want to invest in cryptocurrency? Discover the Bitpanda trading platform. A particularly interesting platform, which in the space of just a few years has established itself as one of the most dynamic, comprehensive, and user-friendly.
Fast, ergonomic, and easily accessible via smartphone thanks to its application, it has everything to ensure a great user experience. Want to learn more? Tokize’s teams will tell you everything you need to know about it.
Bitpanda is a trading platform that is notably known by many traders specializing in the investment, purchase, and resale of cryptocurrencies. Founded in 2014, it is located in Austria. Like many other crypto-asset trading platforms, it allows you to position yourself on various assets, ranging from Bitcoin (BTC) to Ethereum (ETH) and more. But that’s not all, as it also allows you to position yourself on precious metals or other tokenized stocks.
First of all, Bitpanda is a cryptocurrency trading platform with a particularly user-friendly interface. It’s a pleasure to use. What’s more, it brings together a wide range of assets to trade, from crypto to precious metals. Finally, fees can be (in some cases) quite low. Last but not least, customer service is available in several languages and is particularly responsive.
But as with all good things, there are a few caveats. We couldn’t help noticing a few drawbacks, though nothing serious. One is that the platform is only available to investors based in the European Union. Deposit and withdrawal fees are a little high. Finally, it’s worth noting that the platform may not be suitable for experienced traders who want to benefit from a complete experience, with advanced options. These include leverage, future trading, and perpetual trading.
BitPanda is available for users in the United Kingdom. The platform is not available in the United States and in China.
On Bitpanda, you’ll find over a hundred cryptocurrencies to trade. Admittedly, compared with some of the industry’s giants (Binance, Coinbase, and Kraken come to mind), this is not a lot. However, the offering remains hyper-interesting in the sense that the main assets, those most sought-after by investors (according to CoinMarketCap), are virtually all available.
Take a look:
This is an opportunity for us to remind you that investing in cryptocurrencies is particularly complex. The market is volatile, and it’s possible to squander all or part of your funds. Invest wisely, and only deploy as much capital as you can afford to lose.
What’s possible on Bitpanda? What services and features are offered on the platform?
This is the very basis of Bitpanda’s operation. It’s a trading platform that allows you to buy, sell, and exchange just over a hundred different cryptocurrencies. It is possible to buy with cash (known as spot trading). When it comes to more advanced trading options, however, things are immediately more complex. Indeed, everything is rather limited. You won’t be able to trade with leverage or position yourself on future contracts. Accessible and user-friendly, Bitpanda is positioned as a “general public” platform.
Rather like eToro, Bitpanda has taken the gamble of going mainstream. So, in addition to cryptocurrency (which remains the main asset class on which you can position yourself), you can also invest in precious metals (notably gold and silver) as well as tokenized stocks (such as Apple, Amazon, or Tesla). The range is truly comprehensive. This will enable you to truly diversify, for a more complete and potentially higher-performing portfolio.
Bitpanda has launched a product called “Savings”. This is a product that allows users to set up a regular savings plan. In other words, it’s possible to automate your investments. All you have to do is enter the amounts you wish to invest, the purchase frequencies and, finally, the asset classes you target. The rest is done automatically, and every week or month, your order is processed. This is also known as DCA (Dollar cost average).
Bitpanda also lets you stake certain cryptocurrencies. This enables you to invest and generate passive income. All you have to do is stake your assets and wait for the rewards to come in on a daily or weekly basis. You can also generate additional income by taking part in Bitpanda “games” (quizzes, videos…) which, if you do it right, will earn you cryptocurrency.
Users, you can also use Bitpanda Pay to pay for certain goods and services online or elsewhere. How can you do this? Via this brand-new feature that lets you send money to different IBANs (any of them, provided your account is verified). You can also pay bills and transfer money in just a few clicks. As a guarantee of security, Bitpanda Payments is a payment service provider within the scope of European regulation DSP 2.
Bitpanda offers a VISA credit card that lets you pay for purchases and earn cashback on every transaction you make.
Bitpanda charges several types of fees. In the case of trading, the platform integrates fees directly into the spread on buy and sell operations (although this varies according to market liquidity).
Deposit fees vary. They are free for all SEPA bank transfers and cryptocurrency deposits. For credit and debit cards, they range from 1.5% to 3.5%. And 3.6% for wallets such as Skrill or Neteller.
Withdrawal fees are 1 euro for SEPA withdrawals in euros and 10 euros for SWIFT withdrawals in foreign currencies. Withdrawal fees for cryptocurrencies vary, depending on the blockchain and network.
| Fee type | Amount |
|---|---|
| Trading fee | Included in the spread (1.49% on BTC trading) |
| Deposit fee | Free for SEPA and cryptocurrencies 1.5 to 3.5% for credit cards 3.6% for Skrill or Neteller wallets |
| Withdrawal fees | 1 € for SEPA 10 € for SWIFT |
Bitpanda does indeed have a mobile application. It’s available for both iOS and Android devices. Like the platform originally designed and developed for the desktop, this one allows you to trade, while enjoying a very cool experience.
Buying, selling, and trading cryptocurrencies, real-time price monitoring, simple configuration for all the services on offer, access to customer service, and enhanced security, you absolutely won’t be disappointed! Please note, however, that the trading experience is generally more pleasant on the desktop.
Don’t forget to secure your account. In the event of your phone being lost or stolen, it’s essential that the trading platform’s application is not accessible. To do this, activate two-factor authentication (2FA).
There are two types of account at Bitpanda. The first is the personal account. The second is the professional account:
If you’re a traditional investor, you’ll have no choice but to open a personal account. This will be the same as for any other person, and whatever your deposits, whatever your experience and years of trading via this same platform, the rights it offers are the same, for everyone.
This is an opportunity for us to remind you that investing in cryptocurrencies is particularly complex. The market is volatile, and it’s possible to squander all or part of your funds. Invest wisely, and only deploy as much capital as you can afford to lose.
What about security at Bitpanda? What measures have been taken to ensure full security of data and funds for everyone involved?
Several elements have been deployed to offer Internet users and investors wishing to position themselves on the assets on offer a 100% secure experience. Firstly, Bitpanda has opted for cold storage. The vast majority of assets on the platform are actually stored in offline wallets, limiting the potential impact of a cyber-attack.
What’s more, data is encrypted. Passwords, API keys, everything is secure. Another security measure is two-factor authentication (2FA), which enables anyone who so wishes to activate facial or digital recognition, or to enter an encrypted password in addition to what is already done, to add a second layer of protection to its platform.
Finally, Bitpanda, like all CEX (centralized exchange) trading platforms, is obliged to pass a KYC (Know Your Customer) check. This is an essential step, enabling people wishing to trade to go through this process in order to validate and confirm their identity. Without this, it will not be possible to trade.
Bitpanda is registered as a Virtual Asset Service Provider (VASP) with the Austrian Financial Market Authority (FMA). Bitpanda is also registered as a Digital Asset Service Provider (DASP) with the Austrian Financial Market Authority (AMF).
As a VASP, Bitpanda is required to comply with the AML/CFT standards set by the European Union, and to implement security and compliance measures to prevent fraud, money laundering, and the financing of terrorism.
These include identity checks, transaction monitoring, and cooperation and information sharing with the relevant authorities in the event that questions arise about a particular individual.
Want to open an account and buy crypto currency on Bitpanda? Here’s how to get started.
Opening an account on Bitpanda is pretty straightforward. First, you need to visit the platform’s official website or simply download the mobile app. On the computer version, click on “Register” then “Create an account” to begin the process. You’ll then need to enter your email address and a few other details. To go further, you’ll need to accept the terms and conditions and privacy policy before confirming your email address by clicking on the link received. Please note that time is generally limited to a few hours. If you wish to open an account, please take the time to go through the entire process.
Once you’ve completed these first steps, you won’t really be able to take advantage of the application itself. In order to take advantage of everything Bitpanda has to offer, you’ll need to pass and validate the KYC (Know Your Customer) process. Follow the on-screen instructions to provide your personal details, such as your full name, date of birth, address, and telephone number. You’ll also need to upload a copy of a valid ID (passport, national ID card, or driving license) and a selfie to confirm your identity.
Once your KYC has been verified and validated by Bitpanda, you can make your first deposit. The platform supports several different methods. These range from standard bank transfers to deposits in cryptocurrencies or via credit or debit card. Finally, you can also go through fairly reputable e-wallets, such as Skrill or Neteller. Beware, as explained above, fees are quite high if you opt for this method. In all cases, simply click on “Deposit” in the top menu to go to the dedicated page.
Here’s a summary of deposit fees:
| Deposit fee | Amount |
|---|---|
| SEPA and cryptocurrency | Free |
| Classic credit card | 1.5% to 3.5% |
| Skrill or Neteller wallets | 3.6% |
The most viable, secure and fastest option therefore remains the first.
To go to the buying platform, simply click on the “Price” tab in the menu, then search for your target cryptocurrency. Then click on “Buy”. You can then enter the desired amount and the currency available for investment. This can be FIAT currency (EUR, CHF, GBP) or cryptocurrency, such as BTC or USDT. Then confirm your order. Once your order has been confirmed, you’ll receive your funds (please note that the less liquid your target pair, the longer you’ll have to wait before your order is definitively validated).
Bitpanda is a cryptocurrency trading platform that’s suitable for just about everyone. Indeed, if you’re a trader who simply wants to buy or sell cryptocurrency, this is the perfect tool! The interface is top-notch, with few products, so you won’t have the chance to get lost in the cryptocurrency maze.
On the other hand, if you’re an expert and want to take advantage of advanced features, it might be a little more difficult. With no leverage, no futures or perpetuals, you may quickly feel a little cramped.
This is an opportunity for us to remind you that investing in cryptocurrencies is particularly complex. The market is volatile, and it’s possible to squander all or part of your funds. Invest wisely, and only deploy as much capital as you can afford to lose.
Responsive, efficient, and helpful, Bitpanda’s customer service is available in several languages, via different channels. First and foremost, there’s the Help Center – FAQ. Enter a keyword and try to find the answer to any question you may have had.
Customer service is also available via a standard contact form and social networking platforms (Reddit, Twitter, Facebook…). Live chat, available 24/7, is also available as soon as you log on to the platform.
Bitpanda is a trading platform we particularly like. Pleasant to use, dynamic and fast, it allows you to buy and sell assets very easily and very quickly, while being sure that they are secure (remember, however, that it’s the exchange that remains the “owner” of your funds).
However, we can’t help noting that trading products and options are not particularly well-developed. In other words, if you want to take your trading to the next level, or if you’re already an expert trader, you may soon find yourself faced with a lack of options, which means you’ll have to switch platforms and possibly pay fees.
