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Bitpanda review

Bitpanda makes buying and selling cryptocurrency quick and easy through a credit card, bank transfer and several payment options.

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Our take on Bitpanda

Bitpanda is an Austria-based exchange that allows users to buy and sell cryptocurrencies as well as other assets - including equities, commodities and ETFs.

The exchange’s beginner-friendly user interface, its competitive fee schedule and the fact that it supports four major fiat currencies help the exchange to achieve its goal of making investment accessible to everyone.

On the downside, since January 2020, Bitpanda has required that all of its users go through the Know Your Customer (KYC) process and has made its services available to only European residents.

4

Finder Rating

★★★★★

Bitpanda pros and cons

Pros

  • Beginner-friendly interface and experience (UI/UX)
  • Large number of services
  • Multiple payment options
  • Native token allowing for better rates
  • No history of security breaches or hacks

Cons

  • Buying cryptocurrencies is limited to European members
  • Fees already included which distorts price
  • Not open source

About Bitpanda – company history and background

Bitpanda was founded in 2014 in Vienna, Austria.

The goal of the company was to make investment accessible to everyone.

The company currently has 730 employees and 3.5 million users, and it’s one of the fastest growing fintech firms in Europe.

Listed Bitpanda crypto exchange assets

Bitpanda supports over 81 cryptocurrencies, but some notable assets are missing. Namely, Binance USD, BNB and Dai, which are in the top 20 cryptos by market cap. In total, 14 of the top 20 cryptos are available on Bitpanda.

Popular assets on Bitpanda
Bitpanda supports
Avalanche (AVAX)
Bitpanda does not support
Binance USD (BUSD)
Bitpanda supports
Bitcoin (BTC)
Bitpanda does not support
BNB (BNB)
Bitpanda supports
Cardano (ADA)
Bitpanda supports
Cosmos Hub (ATOM)
Bitpanda does not support
Dai (DAI)
Bitpanda supports
Dogecoin (DOGE)
Bitpanda supports
Ethereum (ETH)
Bitpanda does not support
LEO Token (LEO)
Bitpanda does not support
Lido Staked Ether (stETH)
Bitpanda supports
Polkadot (DOT)
Bitpanda supports
Polygon (MATIC)
Bitpanda supports
Ripple (XRP)
Bitpanda supports
Shiba Inu (SHIB)
Bitpanda supports
Solana (SOL)
Bitpanda supports
Tether (USDT)
Bitpanda supports
TRON (TRX)
Bitpanda supports
USD Coin (USDC)
Bitpanda does not support
Wrapped Bitcoin (WBTC)

Bitpanda exchange fees

Bitpanda has a standard 1.49% fee for buying and selling digital assets on the platform.
Trading fees on the Bitpanda Pro – Bitpanda’s advanced trading platform – are very reasonable, with a 0.1% maker fee and a 0.15% taker fee.

Fiat deposit and withdrawal fees vary by method.

Crypto deposits are free as long as you deposit the minimum deposit amount. Otherwise, there is a deposit fee that varies by asset.

Crypto withdrawals have minimum amounts and fees that vary by asset, as well.

Deposit methods
  • Cash
  • Credit card
  • Cryptocurrency
  • Debit card
  • Neteller
  • Bank transfer (SEPA)
  • SOFORT

Bitpanda deposit and withdrawal fees

Transaction type Fee
Deposit funds Cryptocurrency: None if your deposit is larger than the minimum required for no fee; fees vary if your deposit is less than the minimum; blockchain fees may apply
Bank transfer: None; bank fees may apply
Debit card transfer: 1.5-1.8%
Credit card: 1.5-1.8%
Withdraw funds Cryptocurrency: None if your withdrawal is larger than the minimum required for no fee; fees vary if your withdrawal is less than the minimum; blockchain fees may apply
Bank transfer: None; bank fees may apply

Bitpanda trading fees

Type Fee
Trading Fees vary

Taker fee explained. A taker fee is a fee charged when a buy order is matched immediately with a sell order on the books. This is the fee charged when you place a market buy order.

Maker fee explained. A maker fee is the fee charged when you propose an order for other traders to take. In other words, this fee is charged when you place a limit order to sell an asset, but that order is not filled immediately.

TypeFee
Maker0.1%
Taker0.15%

How to sign up on Bitpanda exchange

  1. Register online.
    Head to the Bitpanda website and click on Sign-up.
  2. Enter and confirm your email address.
    Once you have entered your email address, you will receive a verification email instantly. Click on this to be taken back to Bitpanda's website.
  3. Answer AML questions.
    The next step is to answer a series of anti-money laundering questions such as what is the source of your funds and how much you plan to invest in cryptocurrency.
  4. Enter your personal details.
    Bitpanda will then ask you to enter some more personal details including your mobile phone number. You will receive a 4 digit PIN as an SMS which you then need to input on the website.
  5. Verify your identity.
    Bitpanda doesn't accept a driving license or residence permit as ID, so you will need to use your passport. The identity verification is completed on your phone. All you need to do is scan the QR code on the website and you will be taken to the right page on your phone. You will need to record a video of turning your head to the right and saying three numbers out loud. Then upload a picture of your passport and wait for confirmation.
  6. Wait for verification.
    Before you can get started making deposits and trades, you will need to wait for your identity to be confirmed. In our road test this happened within minutes.
Create a Bitpanda exchange account

About the Bitpanda app

The Bitpanda app is available for Android and iOS devices.

Is Bitpanda exchange safe?

Bitpanda boasts an immaculate security history, with no recordings of breaches or hacks. The exchange is regulated in Austria.

Past hacks. Bitpanda has never reported having been hacked.

Security audits. Bitpanda is regularly audited by third parties, and its security is one of its unique selling points. It has undergone financial audits by KPMG. While KPMG audits its financials, there have been no audits of the exchange’s security itself.

Insurance. Bitpanda offers no insurance for its users.

Bitpanda customer support

Bitpanda’s customer service is standard, and with regards to other cryptocurrency exchanges, does not excel nor is it below average. The company does offer a very extensive help desk, with a wide variety of categories that cover nearly all issues that a customer might have.

However, there are no phone support or live chat options. You can access a contact form via Bitpanda’s website, but will likely be waiting over 6 hours for a response. If you need an answer quickly, it’s probably best to head to community social media channels such as Reddit, Twitter or Telegram.

Google Play ratings33.4k ratings, 3.5 stars, 1M+ downloads
Apple Store ratings11.8k ratings, 4.7 stars

How to reach Bitpanda

  • Contact form
  • Discord
  • Email
  • Facebook page
  • Telegram
  • Twitter

Keeping your crypto secure

All centralized exchanges, including Bitpanda, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.

Ledger Nano X Wallet

Trezor Model T Wallet

Go to site
Go to site

Supported assets

5,500+

Supported assets

1,456+

Price (USD)

$149

Price (USD)

$219

Alternatives to Bitpanda exchange

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SoFi Invest Crypto
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USD

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cryptocurrencies

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Instantly purchase a handful of leading cryptocurrencies with the SoFi app, which also insures your coins against potential hacks or theft.
eToro USA LLC Cryptocurrency Trading
Debit card, PayPal, Wire transfer, Online banking
USD

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cryptocurrencies

Get a $10 bonus when you buy $100 of crypto. T&Cs apply.
Copy the trades of leading cryptocurrency investors on this unique social investment platform. Non-US residents can read our review of eToro's global site here.
KuCoin Cryptocurrency Exchange
Bank transfer, Cryptocurrency, PayPal, Debit/credit cards, Zelle
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND

747
cryptocurrencies

Sign up and get up to US$10 in rewards. Make trades to get up to US$500 in rewards. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
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2 Responses

    Default Gravatar
    PeterFebruary 18, 2019

    I have a prepaid MasterCard. I loaded the card from my personal bank account. Can I buy cryptocurrencies with this card? How fast do I get them into my BitPanda account?

      Avatarfinder Customer Care
      JhezelynFebruary 19, 2019Staff

      Hello Peter,

      Thank you for your comment.

      There are some cryptocurrencies that can be bought using prepaid cards. A prepaid card is very different from a bank account debit card. You are spending money you loaded onto the prepaid card in advance. With prepaid cards, you are allowed to purchase crypto without providing proof of ID, however, they aren’t widely accepted, and it’s a time-consuming way to buy crypto. You must also watch out for high fees.

      You can use a prepaid card to trade on a platform that doesn’t require proof of ID. You can compare exchanges that do not require ID verification. You may click Go to Site button or View Details to see more information about the exchange.

      As per the Bitpanda website, they do not indicate that the prepaid card is not one of their payment options. You can freely choose between SOFORT-Transfer, Visa / MasterCard, NETELLER, Skrill, GIROPAY / EPS, Amazon.de Voucher, Euro Wallet, and Bank Transfer.

      You are advised to kindly get in touch with Bitpanda directly to verify if a Mastercard prepaid card is acceptable.

      Regards,
      Jhezelyn

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