Today, in this Bitpanda review, we are going to review one of the leading cryptocurrency exchanges in Europe. It offers secure access to trading cryptocurrencies at any time of the day. Since 2014, the platform has a strong reputation. According to the website, Bitpanda exchange strives to make the process of trading cryptocurrencies like Bitcoin as fast, smooth, and safe as possible.
QUICK NAVIGATION :
- About Bitpanda Exchange
- Bitpanda Signup
- Bitpanda Account Types
- How to Trade on Bitpanda?
- Services Offered
- Bitpanda Fees
- Bitpanda Security
Introduction Bitpanda Exchange
Bitpanda came into existence in late 2014 as Coinimal in Vienna, Austria. The platform has won a startup award in October 2016. This company specializes in trading cryptocurrencies like Bitcoin. Presently it is the leading retail broker for Litecoin, Bitcoin, Ethereum, and others in Europe. It has more than 900k users. With 60+members on the team of over 21 nationalities, Bitpanda is a global company.
The exchange is fully automated. As soon as the platform confirms payment, the cryptocurrency gets transferred automatically to the buyer. Th exchange works efficiently to provide high-quality service to customers at a faster rate.
On the right top corner, click ‘sign-up’. Enter your name, surname, email address, and password. Signup process sends a verification link to your email ID. Click the link, it will redirect you to the official website. To login, enter a valid email and password to use the platform.
To trade in this platform, you need to provide additional information. As soon as you verify your account, you get access to all features.
The exchange offers their traders three types of accounts, each with different limitations and levels of verification requirements. See the account types over-viewed below:
- This account only requires users to verify their email.
- Daily buy/sell limits are 1,000 EUR
- Monthly buy/sell limits are 7,500 EUR
- Total buy/sell limits are 30,000 EUR
- This account requires users to verify their mobile phone number in addition to their email.
- Daily buy/sell limits are 1,500 EUR
- Monthly buy/sell limits are 10,000 EUR
- Total buy/sell limits are 50,000 EUR
- This account requires users to verify their account with government-issued photo ID which is confirmed with ID or through video.
- Daily buy/sell limits are 15,000 EUR
- Monthly buy/sell limits are 300,000 EUR
- Total buy/sell limits are 1,500,000 EUR
Now that you have created an account, this Bitpanda review will further explain the trading. Read further to understand about Bitpanda withdrawal fees, new improved services, etc.
How to Trade?
Buying or selling cryptocurrency is very easy on the Bitpanda website. But before you buy or sell, you need to verify your account and need to add sufficient funds in your crypto and fiat wallets. Once you log in, Click on “Trade” in the top right of the screen. Select “Buy,” and choose the cryptocurrency you want to purchase with your fiat wallet. Choose the quantity to buy, and click “Buy Now”. Similarly, in the trade option click “sell” and select the cryptocurrency or fiat wallet, choose the amount, and click “Sell Now”.
Bitpanda has different Fiat funding and withdrawal options. SEPA wire is best If you are in the EU and would like to fund in Euros because this is free and fast.
SOFORT transfer for those who are in Austria, Spain, Belgium, Italy, or the Netherlands. This is cheap and will usually take one or two days. This option is also available for withdrawals.
The exchange also has two popular web wallets Skrill and Neteller for you to make payments and withdrawals. However, create an account with one of these services. These payment and withdrawal options depend on whether they verify your account.
Bitpanda To Go
With Bitpanda To Go you can buy cryptocurrencies throughout Austria in cash. Along with around 1,300 Post partners, the program works with 400 Post branches around Austria and makes it easy to purchase cryptocurrency without having to transfer fiat currency to your Bitpanda account or even requiring a bank account. To use Bitpanda To Go, go to one of the supported locations and purchase a voucher for the quantity in Euro that you want. You can find the “Bitpanda To Go” page via the Bitpanda website.
Buy the voucher, then click on the “Redeem now” button on the same website, which will make you log into your account and enter the code. You can redeem the voucher online to buy Bitcoin, Litecoin, Ethereum, Ripple, IOTA, Bitcoin Cash, Komodo, or Dash. Additionally, Bitpanda offers the best price within Austria so you can get the most crypto for your fiat. Also, no need of verification, as you just need your email address. Bitpanda will transfer The coins into your integrated wallet where you can use them however you want.
If you want exclusive services and higher trading limits, then there is Bitpanda Plus. It is designed especially for traders who want to trade in higher volumes and increase the default limits. To use this feature, fill the form with your name, nationality, phone, email, verification status, and expected volume.
Moreover, the platform offers Bitpanda OTC. This is a direct over-the-counter service for users who want to buy or sell quantities of over 1 million Euro. This OTC service is specialized and exclusive for every personalized individual customer. To access this service, you need to fill out the same Bitpanda Plus form.
Bitpanda Swap allows you to instantly swap one cryptocurrency for another. It is Simple, secure and limit free. Wallet service is also included.
Bitpanda Android App.
Fast, safe and reliable Bitpanda exchange is now in your pocket. The app is developed only for Android users. Unfortunately, iOS app is still to be developed, but the site is responsive and works great on mobile devices
Bitpanda Global Exchange
Bitpanda Global Exchange is an advanced trading platform and digital asset exchange for experienced traders, professionals, and institutions.
About Bitpanda Fees
The exchange has maintained low bitpanda fees as a benefit to its customers. The fees for the purchase of Bitcoin currently is 1.49% and for the selling 1.29%.
currently, it offers cryptocurrency trading in EUR, USD, GBP and CHF. If you want to pay in a not supported currency, exchange fees are applied to the respective providers. Moreover, these fees are not charged by the panda.
It should also be noted that credit card providers can sometimes charge cash in advance. This charge is a separate deduction, directly from your provider.
Bitpanda charges transaction fees, the amount will vary depending on the cryptocurrency.
At Bitpanda, security is a top priority. There are SSL encryption and DDOS protection. The platform also stores funds in secure offline wallets. Also, It provides two-factor authentication.
Our Bitpanda review was easy to conduct because of the transparency of the business as well as their stable track record. We are impressed with their coin coverage as they are the only Fiat exchange with so many coins to choose from.
Also, they are one of the most user-friendly exchanges that we have reviewed recently. Moreover, they offer a nice range of cryptocurrencies which you can purchase directly, rather than having to use different platforms for fiat purchases and the trading on another platform. Here you can purchase them directly on Bitpanda and then can withdraw to your own wallet.