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Bitpanda cryptocurrency broker review

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Sam Bourgi
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Bitpanda makes buying and selling cryptocurrency quick and easy through a credit card or bank transfer.

Bitpanda has quickly emerged as one of Europe’s most popular cryptocurrency brokers. The Austrian-based company offers a bevy of payment options, allowing traders to diversify in premier tokens such as bitcoin and Ethereum.

4

Fiat currencies

36

Cryptocurrencies

Details

Product Name Bitpanda Cryptocurrency Exchange
Fiat Currencies EUR, GBP, CHF, USD
Cryptocurrencies BTC, LTC, ETH, DASH, XRP, BCH, KMD, MIOTA, EOS, PAN & 20+ more
Deposit Methods Cash
Credit card
Cryptocurrency
Neteller
Bank transfer (SEPA)
SOFORT
Trading Fee Fees vary
Deposit Fees None
Withdrawal Fees Cryptocurrencies: Fees vary

Pros

  • Fully automated platform with instant transactions
  • A wide variety of payment options
  • Good for beginners

Cons

  • Fees are not disclosed publicly
  • Buying cryptocurrencies is limited to European members
  • Not open source
  • Lack of hierarchical deterministic (HD) and multi-signature protocols raises some concern over privacy and security
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What's in this guide?

What is Bitpanda?

Bitpanda is an online broker specializing in the buying and selling of cryptocurrencies. As a fully automated platform, Bitpanda works efficiently to process and confirm payments at the quickest possible pace.

The broker is a trusted brand in the cryptocurrency space, having won a startup award in October 2016 as best fintech startup. This also partly explains the company’s sharp expansion throughout Europe over the past three years.

What cryptocurrencies can I buy/sell?

Bitpanda provides access to the following cryptocurrencies:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Dash (DASH)
  • Bitcoin Cash (BCH)
  • Ripple (XRP)

Available countries

Sell-side services are available globally via Neteller and Skrill. But, note that only European residents can buy cryptocurrency on Bitpanda.

Which payment methods are accepted?

Bitpanda offers you several payment options, putting it among the world’s most accessible cryptocurrency exchanges. The payment options are:

  • Credit card (Visa, Mastercard)
  • SOFORT transfer (only available in these countries)
  • EPS
  • Giropay
  • Neteller
  • Skrill
  • OKPAY
  • Online Bank Transfer
  • SEPA
Go to Bitpanda's website

How much will it cost me to use Bitpanda?

For bitcoin, Bitpanda’s buying and selling fees are as follows:

  • Buying fee: 1.49%
  • Selling fee: 1.29%

Note that trading fees are already included in the platform’s prices for each coin.

You may also need to pay a fee when you deposit funds into your account, but fees are waived on larger deposits. This fee structure is outlined in the table below.

CurrencyMinimum deposit amountFree deposit if amount is greater thanDeposit fee
Bitcoin (BTC)0.001 BTC0.05 BTC0.0001 BTC
Ethereum (ETH)0.001 ETH0.1 ETH0.0005 ETH
Dash (DASH)0.001 DASH0.1 DASH0.0001 DASH
Litecoin (LTC)0.001 LTC0.1 LTC0.0001 LTC
Bitcoin Cash (BCH)0.001 BCH0.01 BCH0.0001 BCH
Ripple (XRP)0.1 XRP0.1 XRP0 XRP

How fast will my funds be available?

Transfer speeds are entirely dependent on your payment method. If you decide to buy bitcoin with SOFORT, Neteller, EPS or online bank transfer, your coins will be available immediately.

SEPA payments usually take one business day to finalize the transaction.

Users are encouraged to check the status of their orders at any time in the “History” section of their live accounts.

Are there any transfer limits?

Each Bitpanda account has a specific limit placed on transactions. Like other exchanges, this limit is based on your verification status. Below is a breakdown of the verification methods and the amount of money you can deposit and withdraw.

Payment methodUnverified accountVerified account
Online payments
Daily limits
Monthly limits
Total limits		Deposit / Withdraw
N/A / EUR1,500
N/A / EUR10,000
N/A / EUR50,000		Deposit/ Withdraw
EUR10,000 / EUR100,000
EUR300,000 / EUR2,000,000
EUR10,000,000 / EUR10,000,000
Credit card
Daily limits
Monthly limits
Total limits		Deposit / Withdraw
N/A
N/A
N/A		Deposit / Withdraw
EUR2,500 / N/A
EUR300,000 / N/A
EUR5,000,000 / N/A
Bank transfer (SEPA)
Daily limits
Monthly limits
Total limits		Deposit / Withdraw
EUR49,999 / EUR500,000
EUR5,000,000 / EUR5,000,000
EUR100,000,000 / EUR10,000,000		Deposit / Withdraw
EUR49,999 / EUR5,000,000
EUR5,000,000 / EUR5,000,000
EUR100,000,000 / EUR10,000,000

Is it safe to use Bitpanda?

Bitpanda offers good security protocols, such as 2-factor authentication and ID verification to enable credit card payments.

However, more stringent verification requirements also mean that the broker is not as private as other platforms. This is the trade-off you need to weigh before working with any broker. At the same time, a lack of HD capability also reduces Bitpanda’s privacy standards.

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Cryptocurrencies

BTC, BCH, BSV, ADA, DAI, EOS, ETC, FIL, XLM, XRP & 35+ more

Deposit method

Bank transfer (ACH), Credit card, Debit card, Bank transfer (SEPA), Wire transfer

Trading fee

Fees vary

Withdraw fees

Instant Card Withdrawal: Up to 1.5% of the transaction plus a minimum of $0.55
Outgoing Wire Transfer: $25
Fees vary by location and payment method.

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Cryptocurrencies

BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA, MIOTA, XLM & 5+ more

Deposit method

Bank transfer, Credit card, Debit card, Neteller, PayPal, Online banking, Skrill

Trading fee

Fees vary. Overnight and weekend fees apply

Withdraw fees

US$5 (minimum withdrawal of US$50)

Customer support

Since the Bitpanda platform is fully automated, the support team has greater flexibility to respond to questions. If you have an issue, you can submit a ticket directly on the website’s helpdesk with your name and email. This support ticket capability is available on all pages of the website.

Pros and cons

Pros

  • Fully automated platform with instant transactions
  • A wide variety of payment options
  • Good for beginners

Cons

  • Fees are not disclosed publicly
  • Buying cryptocurrencies is limited to European members
  • Not open source
  • Lack of hierarchical deterministic (HD) and multi-signature protocols raises some concern over privacy and security

Get started

If you live in Europe and want to give Bitpanda a try, head over to the Bitpanda website and select “Get Started”. Here, you’ll be prompted to register before getting started on your cryptocurrency venture.

Go to Bitpanda's website

Frequently asked questions

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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2 Comments

    Default Gravatar
    Peter
    February 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?

    Reply
      Avatarfinder Customer Care
      Jhez
      February 19, 2019

      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 you 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

      Reply
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