Bitpanda Review and Comparison

Bitpanda is a well-founded Austria-based broker providing diverse assets, including cryptocurrencies, stocks, ETFs, indices, and precious metals. It gives crypto investors the opportunity to have a secure and transparent trading environment regulated by multiple European authorities. Bitpanda has established itself for reliability and compliance, making it a very good option for those looking to invest in every asset form.

In this Bitpanda review, we’ll explore what sets the platform apart, from its intuitive interface to its flexible payment options.

Bitpanda Overview: What is Bitpanda

Bitpanda is a leading European investment platform founded in 2014 in Vienna, Austria, with a mission to make investing accessible to everyone. Bitpanda has grown to serve over 5 million users across Europe by offering simple and user-friendly financial products. The platform enables individuals to invest in a wide range of digital assets, including the most significant cryptocurrencies, stocks, ETFs, and precious metals, all within a secure and regulated environment.

Bitpanda’s commitment to innovation and accessibility has positioned it as one of Europe’s most successful fintech companies. With a team of more than 700 professionals, the company continues to expand its services and reach. Bitpanda ensures compliance with European financial regulations, holding both a PSD2 payment service provider license and an E-Money license, providing users with a trusted platform for their investment needs.

Bitpanda Services and Products

Bitpanda offers a brokerage service which enables its customers to buy and sell cryptocurrencies. Basically, this means Bitpanda supplies you with the coins directly, unlike other well-known crypto exchanges where you interact with other traders. Here’s a detailed description for each of them:

Bitpanda Cryptocurrency

Bitpanda’s cryptocurrency investment feature offers a secure and approachable way to trade a wide selection of digital assets, including Bitcoin, Ethereum, and other popular emerging altcoins. Users can start with fractional investing as little as €1, making it easy to diversify their portfolio.

Bitpanda Savings

Bitpanda Savings allows you to commit a certain amount each month and create a savings plan by buying Bitcoin or other cryptocurrencies.

Bitpanda Crypto Index

The Bitpanda Crypto Index (BCI) provides users with an easy way to invest in the top-performing cryptocurrencies by automatically adjusting to market trends. Available in three options—BCI 5, BCI 10, and BCI 25—it provides diversified exposure to the crypto market with regular rebalancing.

Bitpanda Metals

Bitpanda Metals allows you to diversify your portfolio with physically backed and 100% insured precious metals. You can also swap gold and silver with any other digital asset on Bitpanda.

Bitpanda Swap

Bitpanda Swap allows you to swap one cryptocurrency for another instantly. There are no limits on the transaction size of swaps, which puts Bitpanda among the most prominent crypto swap platforms.

Bitpanda Cash Plus

Bitpanda Cash Plus is a secure cash investment option that allows users to earn competitive returns on their funds while maintaining flexibility. It offers daily interest payouts, no lock-in periods, and is backed by regulated money market funds, making it a low-risk alternative for investors looking to grow their cash holdings.

Bitpanda Pay

Bitpanda Pay allows you to connect your account to the traditional fiat world, including paying your rent or sending money to friends.

Bitpanda Card

The Bitpanda Card is a Visa debit card that enables users to easily spend their crypto, stocks, and metals like cash, converting assets in real-time at the point of sale. It provides up to 2% cashback and full integration with Bitpanda accounts. It can be used online and in-store worldwide wherever a Visa is accepted.

Bitpanda Pro

Bitpanda Pro offers a full order book-style trading exchange for advanced cryptocurrency users to trade and connect APIs.

Bitpanda Stocks

Bitpanda Stocks allows users to invest in traditional financial instruments, including fractional shares and exchange-traded funds (ETFs). Users can invest as little as €1 into some of the world’s most popular companies and funds – 24 hours, 7 days a week.

Bitpanda Token

Bitpanda Token (BEST) is a Bitpanda ecosystem token providing customers with better rates on trading and functionality across its platform, similar to Binance Coin.

Bitpanda Staking

Bitpanda Staking gives users the opportunity to earn rewards on their crypto holdings without any hassle, with payouts occurring weekly and automatically. The platform supports a variety of the most popular stakeable assets, offering competitive yields while ensuring full flexibility—users can unstake their assets anytime. 

Pantos

Finally, the Bitpanda team has launched an ICO-backed project called Pantos (PAN), which aims to be an open-source, open-innovation-driven scientific research project. However, this project is outside the scope of this Bitpanda review (more information can be found here).

Bitpanda Currencies and Payment Methods

Bitpanda supports the buying and selling of numerous cryptocurrencies, including some popular new crypto choices:

• Bitcoin (BTC)
• Ethereum (ETH)
• Solana (SOL)
• Dogecoin (DOGE)
• Tether (USDT)
• USD Coin (USDC)
• Ripple (XRP)
• Litecoin (LTC)
• Polygon (MATIC)
• Polkadot (DOT)
• Cardano (ADA)
• Chainlink (LINK)

Bitpanda accepts the following fiat currencies:

• US dollar (USD)
• Euro (EUR)
• British Pound (GBP)
• Swiss franc (CHF)
• Swedish krona (SEK)*
• Polish zloty (ZLN)
• Hungarian forint (HUF)
• Danish krone (DKK)
• Czech koruna (CZK)

*Fees for all deposits and withdrawals in SEK currency are free for both Mastercard and Visa payment methods.

Bitpanda accepts the following payment methods:

• Credit card
• Debit card
• Apple Pay
• PayPal
• SEPA
• EPS
• GiroPay
• Sofort
• Neteller
• Skrill
• Cash (Bitpanda on the go).

Keep in mind when we did our Bitpanda review, we noticed that different payment methods have different fees incorporated into them, so make sure to double-check before completing a deposit. Usually, chargeback methods such as credit cards and Skrill will have higher fees than non-chargeback methods such as a wire transfer.

Bitpanda Fees

Transaction Fees

Bitpanda fees for buying and selling cryptocurrencies are up to 1.49%. However, fees are already incorporated into the price in real-time, so they are somewhat invisible to the user.

This is good since you know exactly how much you’ll pay. On the other hand, it sometimes distorts the real price of the cryptocurrency.

Cryptocurrency Deposit Fees

If you deposit money in a currency that is not in the supported currencies, you will be charged a conversion fee by the processing bank (this changes depending on the currency). The minimum deposit and withdrawal amount is 10 EUR. All fees for all currencies are detailed here. 

Fees for all deposits and withdrawals in SEK currency are free for both Mastercard and Visa payment methods.

Fiat Deposit Fees

Bitpanda charges zero deposit and withdrawal fees on all fiat currencies and payment methods, including credit cards. There is a daily purchase limit of €20,000 when using a credit card.

Bitpanda Buying Limits

Bitpanda offers very low limits for unverified users as it complies with standard AML policies. However, verified users have extremely high limits depending on their payment method. For example, verified users can withdraw over €5 million daily via a SEPA transfer.

Obviously, limits differ between deposits and withdrawals. Fiat deposits can’t be made at all for unverified users. Cryptocurrencies aren’t limited to deposit/withdrawal. With credit cards, Bitpanda has a daily limit of €20,000. All limits for different payment methods can be found here.

Bitpanda Security

Bitpanda gives precedence to security by implementing industry-leading measures to protect user funds and data. The platform employs advanced encryption, secure offline storage for digital assets, and continuous monitoring to prevent unauthorized access. Additionally, as already highlighted in this Bitpanda review, the platform fully complies with European regulations, ensuring high security for all transactions.

To enhance account protection, Bitpanda offers features such as two-factor authentication (2FA) and biometric login options. These security measures help safeguard user accounts against potential threats, making it difficult for unauthorized parties to gain access. Even though Bitpanda is unlike other well-known non-KYC exchanges, regular security audits and penetration testing further strengthen the platform’s defense against cyber threats.

Bitpanda also enforces strict verification procedures to avoid fraud and guarantee compliance with anti-money laundering (AML) regulations. The platform collaborates with trusted third-party security firms to improve its protective measures continuously.

Bitpanda Availability

Bitpanda Reviews and Customer Service

Bitpanda offers an online knowledge base for most common questions and dedicated email support for specific issues.

What’s really interesting to see is that in a space where most cryptocurrency exchanges (like what we saw in our Binance review) get an average customer rating at best, Bitpanda reviews are killing it with a 4-star average score on Trustpilot, and that’s not something to take lightly.

The main complaints about the company revolve around long waiting times for support to respond, the verification process, and missing funds. However, it seems that Bitpanda’s support makes it a habit to respond to each reviewer personally, so that’s a good sign.

How to Use Bitpanda?

Getting started with Bitpanda is simple, whether you’re looking to buy crypto, invest in stocks, or manage digital assets. Let’s take you through each step:

1. Create and Verify Your Account

Sign up on Bitpanda with your email and create a password. Then verify your identity by submitting the required documents (for EU regulations). It’ll be great to enable two-factor authentication (2FA) for added security at this stage.

2. Deposit Money and Buy Crypto

You can add funds to your fiat wallet using SEPA, PayPal, or other payment methods on the platform. Users can choose the cryptocurrency they want to buy and complete the transaction.

3. Sell Crypto and Withdraw Funds

Select the crypto you want to sell and convert it into fiat currency. You can also select the withdraw money option to transfer funds to your linked bank account.

4. Send and Receive Crypto

Deposit crypto to your Bitpanda wallet by transferring from another wallet. This option is available 24/7, so you can send crypto to other wallets whenever needed.

5. Invest in Stocks, ETFs, and Metals

Buy fractional shares of stocks and ETFs directly on Bitpanda.

Trade gold, silver, platinum, and palladium backed by real assets.

6. Set Up a Savings Plan

Automate your investments by creating a recurring purchase plan for crypto, stocks, or metals.

7. Pay with the Bitpanda Card

Use your crypto, metals, or fiat funds to make everyday purchases with the Bitpanda Card.

Bitpanda vs. Other Exchanges

Bitpanda vs. Kraken

Bitpanda and Kraken serve different types of users. Bitpanda is a brokerage platform that simplifies buying crypto by selling directly to users, while Kraken is geared toward more experienced traders, as outlined in our Kraken review. This explains why Kraken’s prices are generally lower, with a max fee of 0.26%, compared to Bitpanda’s 1.49%. However, Bitpanda Pro offers lower fees between 0.10% and 0.15%. For beginners, Bitpanda’s simplicity makes the extra cost worthwhile, while experienced traders can benefit from Bitpanda Pro’s cheaper rates.

Bitpanda vs. Coinmama

Coinmama is a service very similar to Bitpanda. As highlighted in our Coinmama review, Coinmama’s advantage is that it caters to most countries worldwide, unlike Bitpanda, which is restricted to the EU. However, Coinmama’s services are more expensive than Bitpanda’s. How much more expensive? A lot. Their processing fee is 5.9%, almost four times Bitpanda’s fee. If you have the option, it’s better to use Bitpanda.

Bitpanda vs. Bitstamp

While Bitstamp is also a trading platform (like Kraken), it also offers a brokerage service. From what we saw in our Bitstamp review, if you compare its brokerage service to Bitpanda’s, you’ll find that Bitstamp charges 5% – more than 3 times what Bitpanda charges. On the upside, Bitstamp is available almost all around the world. So, if Bitpanda supports your country, we believe you will get a much better deal on Bitpanda than on Bitstamp.

Regulation and Compliance

The Bitpanda Group operates in full compliance with European laws and regulations, holding multiple licenses and registrations across key markets. It is authorized as a Virtual Asset Service Provider (VASP) by financial authorities in Austria, France, Spain, Italy, the Czech Republic, Sweden, and Norway. In 2022, Bitpanda achieved a significant milestone by becoming the first European retail investment platform to receive a full crypto custody and trading license from Germany’s BaFin.Additionally, Bitpanda Payments GmbH is licensed as an E-Money Institution and payment service provider under PSD2, while Bitpanda Financial Services GmbH holds a MiFID II investment firm license. These authorizations emphasize Bitpanda’s commitment to regulatory quality and operational integrity.

Bitpanda Pros and Cons

Conclusion – Is Bitpanda a Good Choice?

In brief, this Bitpanda review highlights why it’s a game-changer for today’s investors. Bitpanda provides a secure and easy-to-use platform full of innovative features like the Bitpanda Card, staking rewards, and competitive trading fees, with access to over 400 cryptocurrencies, stocks, ETFs, and precious metals. It also offers a great balance of accessibility and advanced tools, even for newbies and experienced Bitcoiners alike. Although customer support can be a bit slow at times, Bitpanda’s strong security, regulatory compliance, and a significant amount of investment options make it a top choice for European investors.

FAQs

Bitpanda

8.9

Fees

9.5/10

Ease of use

9.2/10

Support

8.3/10

Reputation

8.5/10

Pros

• Wide variety of payment options
• Relatively low purchase fees
• Beginner friendly
• Zero fiat deposit or withdrawal fees

Cons

• Not available worldwide
• Fees aren't stated explicitly

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