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Bitpanda Exchange Review: Guide to Trading Cryptocurrencies and Financial Assets in 2024

One of the Europe's leading retail broker for buying and selling cryptocurrencies like Bitcoin, Ethereum, IOTA and more. Bitpanda is fast,quick and reliable.

Published by
Sohrab Khawas

Overview

Legal NameBitpanda Exchange
HeadquartersVienna, Austria
CEOEric Demuth
Year Founded2014
Exchange TypeCentralized
Trading FeesMaker: 1.29%/ Taker: 1.49%
Deposit MethodsWire Transfer and Credit Card
Supported Cryptos25+ cryptocurrencies including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and more
FiatUS Dollar, Euro, British Pound and Swiss Franc
Customer ServiceEmail, Phone
Trading Options Spot Trading, Margin Trading

Bitpanda Exchange was founded in the year 2014, and is based in Vienna, Austria. It’s mission is to break the barriers to your personal finance and offer traditional financial products into the modern world of 21st century.

Their have an user-friendly and comprehensive interface attracted me at first. You can buy, sell, and trade more than 200 different kinds of cryptocurrencies, like Bitcoin and Ethereum. Bitpanda takes your security seriously, using KYC methods, advanced encryption, and cold storage methods to protect your information and funds.

In this article, we will provide you with the complete guide on the Bitpanda exchange and look into its overall aspects. 

Table of Contents

  • Introduction
  • Account setup and verification
  • User interface and experience
  • Assets and trading options
  • Fees and costs
  • Security and safety
  • Customer support and resources
  • Regulatory compliance and legitimacy
  • Community sentiment and reputation
  • Pros and Cons summary
  • Conclusion and recommendation

Introduction

Are you in a hurry to start your crypto journey? Hold on, and do your research before you invest. Today we will review – Poloniex – a digital asset trading exchange registered in Seychelles. In this review, we will be discussing in detail Poloniex features, fees, Pros, Cons, security, fees, and much more.

It was founded in the year 2013 with its mission to “provide a safe and seamless way to store, transfer, trade and earn digital asset”. Poloniex exchange has been controversial in its field mainly because of its interaction with users and transaction security. Nonetheless, it ceased its services for users in the U.S. in December 2019. But, it is available to the users outside the U.S.

But, what attracted me to Poloniex? It’s wide range of cryptocurrencies, the high liquidity, comparatively lower fees than most other crypto exchange platforms and its advanced trading tools. A special mention to its user-friendly interface which makes both beginners and experienced traders have a smooth trading experience. Now let us discuss more about the nitty-gritties of using Poloniex.

Account Setup and Verification

Step 1: Navigate to the official website and click Get Started Now button to access the account creation form.

Step 2: Enter your name, country, email, and choose a strong password. To finish, click the Create Account option

Step 3: You will receive an email with a confirmation link to activate the account.

Step 4: Once activated, click on the User icon and then Click on Verify now

Step 5: Enter your personal details, confirm that the information given is accurate, and then click on Save

Step 6: Choose the Country of issuance, Type of identification, and your preferred language for the verification, and then click on Continue

Step 7: If the details are correct then click on Start verification.

User Interface and Experience

Bitpanda makes your trading easy on any device with their user-friendly interface. Whether you’re on your phone, computer, or tablet, Bitpanda has room for every interface for smooth functioning.

Mobile Trading:

They have apps for both Android and iOS devices. These apps let you do everything right from trading to managing your investments.

Web Trading:

You can also trade directly from your web browser without having to download. It’s simple to use and of advantage to beginners.

Desktop Trading:

For those who prefer a dedicated trading setup, Bitpanda also offers desktop apps for both Windows and Mac. These apps offer you a more detailed trading experience.

Assets and Trading Options

Get a glimpse of all the cryptocurrencies found on Bitpanda exchange on this page. Some popular ones include:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Ripple (XRP)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)
  • IOTA (MIOTA)
  • EOS (EOS)
  • Dash (DASH)
  • Stellar (XLM)
  • Zcash (ZEC)
  • NEM (XEM)
  • Augur (REP)
  • 0x (ZRX)
  • Tezos (XTZ)
  • OmiseGO (OMG)
  • Komodo (KMD)
  • Pantos (PAN)
  • Cardano (ADA)
  • Neo (NEO)
  • Chainlink (LINK)
  • Waves (WAVES)
  • Tether (USDT)
  • USD Coin (USDC)
  • Lisk (LSK)
  • Tron (TRN)
  • Basic Attention Token (BAT)

Bitpanda accepts the following fiat currencies:

  • US dollar (USD)
  • Euro (EUR)
  • British Pound (GBP)
  • Swiss franc (CHF)

With Bitpanda’s fiat wallet, you can deposit money into your account anytime. This makes it ready for buying cryptocurrencies whenever you want. You can also sell cryptocurrencies and get the money into your fiat wallet whenever in need. This helps you act quickly in the market, no matter how long it takes for the payments to process.

Bitpanda Fees and Costs

Bitpanda Pro has a flexible fee system starting at 0% for makers and takers. It depends on how much you trade in a month.

Fees are calculated in Bitcoin and is updated every 24 hours. This clear and affordable fee setup works well for all traders, especially if one trades a lot or trades huge amounts.

If you’re using Bitpanda’s regular account, there’s a 1.49% fee when you buy or sell Bitcoin. However, transaction fees transfer to network miners and get changed. It depends on network congestion.

If you review Bitpanda Pro, you will see that all fees are already included in the prices shown. Additionally, Bitpanda makes it easy to deposit different currencies such as EUR, USD, GBP, and more for trading.

You can avail different payment methods like Eps, GiroPay, Sofort, and more on the platform. Bitpanda also offers the Bitpanda Card if you want one. It lets you spend your cryptocurrencies wherever Visa is accepted. The card supports Bitcoin, Ethereum, and other popular cryptocurrencies. Most importantly, you can manage it right from the Bitpanda app.

Security and Safety

When you’re investing in any crypto exchange platform, keeping it safe is super important. You may ask, is Bitpanda safe? Well, it takes their user security seriously and does everything it can to protect you and your funds. It’s one of the most regulated crypto platforms in Europe, meaning it follows strict rules to ensure your transactions are safe.

Bitpanda makes sure of this by KYC verification and undergoes detailed checks to verify your identity, with advanced encryption to keep your info safe.It has security teams working 24/7 to watch out for any problems. They also keep assets in cold storage that’s checked by external auditors.

The platform itself is really secure too, with multiple layers of protection, inside security steps, and regular tests to ensure everything stays safe from hackers.

Reviews of Bitpanda users show that it’s a safe exchange to invest in cryptocurreny.

Customer Support and Resources

BitPanda uses a system where users can post their questions via online forms. These questions get sent to their support workers by email. This way of getting help is pretty quick, and it’s there for you 24/7. 

Apart from email support, BitPanda also has its help centre on the official website. There, you can find questions and answers that are sorted into different topics. It’s a handy way to locate what you need.

Regulatory Compliance and Legitimacy

Bitpanda Exchange is a legit platform for crypto trading. It’s been around for a while and has lots of different cryptocurrencies you can trade. Bitpanda follows the same rules for preventing money laundering as banks in Austria. In fact, they’re also checked by the same department. Also, they have a comprehensive licence to offer virtual currency services not just in Germany, but in other parts of Europe too.

Community Sentiment and Reputation

Bitpanda is known as a trustworthy platform by the crypto community. It provides quite a wide range of different cryptocurrencies that you can trade. Users generally consider it a decent one. But like with any website, everyone’s experience can be different.

Pros and Cons Summary

Advantages

  • Very high liquidity
  • Easy to use interface
  • Wide variety of payment and withdrawal methods
  • Excellent Customer Support
  • Fiat currency deposits and withdrawals

Disadvantages

  • Verification required for withdrawals
  • Not available worldwide
  • A small variety of tradeable cryptocurrency assets
  • No advanced trading platform
  • Relatively high fees compared to some other exchanges

Conclusion and Recommendation

In summary, Bitpanda Exchange is a popular and trusted platform to trade cryptocurrencies. It has an easy-to-use interface and a wide range of cryptos to offer. Additionally, we would recommend Bitpanda as it has earned a good reputation in the crypto community. It takes security seriously, using strong verification and encryption methods and keeps its users’ assets safe. Plus, it follows a strict set of rules to prevent money laundering and has licences for operating in Europe. While everyone’s experience may vary, Bitpanda is generally considered a reliable choice for both beginners as well as experienced traders.

FAQs

What is Bitpanda?

Bitpanda is a crypto exchange platform from Austria. This platform lets you trade cryptocurrencies, commodities, securities, and ETFs.

Is Bitpanda safe?

Bitpanda is dedicated to keep its customers and their assets safe. It follows strict rules to ensure trading on Bitpanda is safe. In fact, it’s one of the most regulated crypto platforms in Europe, that is, it meets high standards to make sure your transactions are secure.

Does Bitpanda have deposit fees?

No, Bitpanda does not charge you deposit fees for all payment methods.

bitpanda - 8.4

8.4

Pros

  • Very high liquidity
  • Easy to use interface
  • Wide variety of payment and withdrawal methods
  • Excellent Customer Support
  • Fiat currency deposits and withdrawals

Cons

  • Verification required for withdrawals
  • Not available worldwide
  • A small variety of tradeable cryptocurrency assets
  • No advanced trading platform
  • Relatively high fees compared to some other exchanges
Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

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