Bitpanda has become one of the main platforms within Europe to buy and sell cryptocurrencies, and many other assets. It offers a wide range of services, including providing stocks and ETF options, allowing customers to purchase digital assets with cash and potentially earn rewards through Bitpanda’s native token, BEST. It has built a beginner-friendly interface, is slowly building an upstanding reputation and has competitive fees when compared to other exchanges.
If this is your first exchange: Bitpanda has created a beginner-friendly platform, with low fees and a very intuitive interface, making it a great option if you are just starting out.
If you’re switching exchanges: Bitpanda offers a wide variety of services that go beyond your standard cryptocurrency exchange. On the downside, it might have fewer assets than other exchanges.
Pros and cons of Bitpanda
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
Fees already included which distorts price
Some services not available in the UK
Verdict: Is Bitpanda any good?
Bitpanda is a superb platform, both for beginners and veteran cryptocurrency users. It offers a large number of services that go beyond simply buying and selling digital assets, has a decent fee structure and is reputable in regards to security. The Pro platform offers competitive trading fees and there are innovative services including Bitpanda Pay and Bitpanda Savings.
Finder ratings for Bitpanda
Transferring money or assets
Fees and costs
Ease of use
Finder's editors objectively assess each platform across a spectrum of performance metrics using a system of 1 to 5 stars, which are designed to help you assess a crypto platform's strengths and weaknesses. You can read our full methodology here.
Bitpanda goes well beyond a simple cryptocurrency exchange. Although it doesn’t offer as large a number of cryptocurrencies as some of its competitors, it makes up for that in all the services it displays. There are price spreads on trades using the basic platform that have higher fees than if you use the Pro platform, which is accessible to all Bitpanda users for free. Unfortunately, things like Bitpanda’s Visa card are only for residents in the euro area and not yet available to UK users.
Supported fiat currencies:
EUR, GBP, CHF, USD
Approximately 82 cryptocurrencies
Supported cryptocurrencies include:
Bitpanda offers a wide range of deposit methods for fiat currencies. These include:
Cash (Bitpanda on the go)
Bitpanda uses standard wait times. SEPA payments take a day, credit cards are instant and bank transfers take 3-5 business days.
You make withdrawals directly to your Bitpanda wallet or make a transfer to your bank account. However, there is a minimum amount for deposits and withdrawals via bank transfer of €25.
Bitpanda has a standard 1.49% fee for transactions on the platform. However, it includes this in the price a user will pay. This distorts the price slightly but also gives you a clear picture of what the final price will be. Trading fees on the Bitpanda Pro platform are very reasonable, with 0.1% for maker and 0.15% for taker.
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.
Fiat withdrawal and deposit fees
Crypto withdrawal and deposit fees
0% if depositing minimum, varies otherwise
Varies by asset
What is it like to use Bitpanda?
Bitpanda is very beginner-friendly and has created an easy-to-use interface with intuitive features.
Bitpanda has a very straightforward sign up and verification process. Once you’ve registered, you will receive a confirmation email which will prompt you to complete a series of KYC and AML questions. It’s important to note that you don’t need to verify your identity to access the platform, but this needs to be done in order to deposit cryptocurrency or fiat.
Known as Bitpanda Pro, the trading interface for Bitpanda can be slightly intimidating for beginner traders, but is standard for most cryptocurrency exchanges.
The team at Bitpanda has built an excellent learning portal, not only for cryptocurrency but also for personal finance. It is one of the most complete guides for exchanges, given the fact it reviews a wide variety of financial concerns and issues.
User Interface/User experience
The Bitpanda portal is very intuitive, clear and easy to understand. The main sections are easily visible, with views of your portfolio, best-forming coins, the option to trade, deposit and sell assets.
Does Bitpanda have good 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.
Contact Us form
6+ hours Average wait time based on the company website.
Social media channels
Ask the community on Reddit, Twitter, Telegram, Facebook and various other social media platforms.
List of services on Bitpanda
One of Bitpanda’s main features is the large number of additional services it provides, on top of traditional cryptocurrency buying and selling.
Trading on Bitpanda
Traditional trading on Bitpanda can be done with a price spread. On the Bitpanda Pro platform, traders can buy and sell with traditional market and limit order style options, among others. Trading fees using the Pro platform will be lower than trading using the price spreads on the basic Bitpanda platform.
Bitpanda token (BEST)
Bitpanda has several offers for its BEST token within the platform. Using the BEST token entitles traders to 0.10% in weekly BEST Rewards. This percentage increases with BEST holdings. In addition, BEST gives traders trade bonuses and reduces their trading fees. You can earn up to 0.075% weekly depending on your trading volume.
Extra services on Bitpanda
The platform is well-known for offering services that exceed cryptocurrency swapping. It now offers stocks, EFTs and precious metals.
Alongside this Bitpanda has expanded its different features, consistently adding to its crypto ecosystem.
Bitpanda Pay. A service that allows for daily payments, including bills or monthly recurring service charges.
Bitpanda Crypto Index. The company has created a crypto index that customers can buy, and increase exposure to a series of assets.
Bitpanda Savings. Bitpanda allows you to create a savings plan and purchase recurrent amounts of cryptocurrency.
Bitpanda boasts an immaculate security history, with no recordings of breaches or hacks. The exchange is regulated in Austria. However, the exchange has no insurance for its users.
No hacks have taken place.
Bitpanda does regular third-party audits of its exchange, 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.
Bitpanda offers no insurance for its users.
Signing up on Bitpanda
Head to the Bitpanda website and click on Sign-up.
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.
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.
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.
Bitpanda doesn’t accept a driving licence 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.
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.
Compare Bitpanda against other exchanges
Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.
Bitpanda is a registered Digital Asset Service Providwer with the Financial Market Authority (FMA) under Austrian FM-GwG and with the AMF under French PACTE law.
Bitpanda charges fees for trading cryptocurrencies, as well as depositing and withdrawing. Be sure to check our dedicated section on fees for more information.
Bitpanda has multiple trading options. The Bitpanda Pro platform allows you to buy and sell with traditional market and limit order style options.
*Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
Kate Steere is a deputy editor at Finder, specialising in fintech, cryptocurrency and banking. She has previously written for The Motley Fool UK and Fitch Solutions, where she covered a wide range of personal finance topics and kept a close eye on market trends. Kate has a Bachelor of Arts in Modern History from the University of East Anglia. When not working, she can usually be found curled up with a good book or heading out for a run.
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