BitPanda Review – Buy Bitcoin with Skrill, SEPA or a Credit Card

Last updated on January 2nd, 2018 at 12:00 am

Bitpanda (formerly known as Coinimal) is a Bitcoin broker that specializes in buying and selling Bitcoins within the Eurozone. The company was founded in late 2014 and since has grown to become one of the more popular options to purchase Bitcoins around Europe.

BitPanda’s exchange rate is higher than your average exchange due to the fact that they allow you to buy Bitcoins with methods that allow chargeback (i.e. credit cards, Skrill, etc.). BitPanda’s base price consists of the market rate plus a small surcharge. The payment option you choose determines how much fee you pay for the order. While SEPA, EPS, Giropay and Sofort have very low fees, the e-wallets like Neteller charge a bit higher fees.

For example, at the time of writing the exchange rate on Bitstamp is 1129.00 EUR per Bitcoin while on BitPanda it’s 1152.82 EUR. This means there’s a 2.1% premium on the Bitcoin price. However, that’s not all, depending on your payment method you’ll pay an additional fee.

Using a credit card / SOFORT transfer has an additional fee of ~%2 (which is relatively low). Skrill has an additional fee of ~3.77%, Neteller is a bit lower than Skrill and the cheapest methods for buying Bitcoins on BitPanda are using a voucher or Giropay.

In order to buy Bitcoins with BitPanda you’ll need to verify basic verification. The lowest verification level requires only a phone number. This will allow you to buy 50 Euros’ worth of Bitcoins a month up to a total of 600 Euros. Higher verification levels require a government issued ID.

If your account is verified the limit is 2,500€ daily (75,000€ monthly) for credit card purchases. For other options, there’s a 10,000€ daily (300,000€ monthly).

bitpanda buy bitcoins

The user interface of BitPanda is pretty sleek and very intuitive. Even newbies will have an easy time navigating through it and buying Bitcoins. Other online reviews suggest BitPanda is doing a pretty good job with customer service as well. Finally, it seems that the company has won a startup award in late 2016, however, I can’t really tell what this award was all about.

Click here to visit BitPanda

To conclude, BitPanda seems like an excellent option for buying Bitcoins inside the EU for people who are looking to use Skrill, a credit card, or any other option. The company has been around long enough, charges relatively low fees and has good support going on.

Bitpanda

Bitpanda
8.7

Fees

8.8/10

Ease of use

9.2/10

Support

8.3/10

Reputation

8.5/10

Pros

  • Wide variety of payment options
  • Relatively low fees
  • Beginner friendly

Cons

  • Not available Worldwide
  • Fees aren't stated explicitly

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21 Comments on "BitPanda Review – Buy Bitcoin with Skrill, SEPA or a Credit Card"

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Alex
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Alex

They are scam. Mostly the website owners write positive reviews about themselves (pretend that they are customers). Their website is a trap. They actually close your account when you start having profits and afterward start making stories. They even manipulate your data. They do not have any phone number for support! Never trust them. Never buy from or sell to them.

Bah!
Guest
Member
Bah!

Bad Experience for me. Bought 0,0040 BTC (50€) but they ask me 40$ to withdraw. Crazy!
I totally agree with Rob. So high hidden costs.

Leo
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Member
Leo

Thats just the bitcoin transaction fees, nothing to do with them that for everybody, its at about 30$ right now but its been as high as 55$ https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

Thats the downside of bitcoin its a holding currency, like gold, not a currencie for small transaction ammounts

Rob Moen
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Member
Rob Moen

My experience with BitPanda: Nice and smooth. I did like the verification process through a video conference call. I bought BTC and my purpose was to move this to an exchange (Poloniex) to buy other coins. What did surprise me was the huge fee they charge when transferring the BTC to another wallet. Not very transparent as I could not find it on the website. Will not use BitPanda again for this reason of hidden costs.

Nat
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Member
Nat

This is most likely because of high Bitcoin mining/transfer fees, nothing to do with Bitpanda. Any bitcoin transfer – between any wallets and exchanges, will incur high charges at present time. This, and the long wait for the transfers to complete, is the main reason why many people are switching to other cryptocurrencies for payments and transactions. Bitcoin is becoming like gold, for long term keeping in one place.

Babs
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Member
Babs
I am gutted by the actions of Bitpanda’s verification agent. Absolutely gutted by the agent making mokery of me simply because of my Nationality (NIGERIAN) despite the fact that I told the agent I am a UK resident. I was told that they cannot register me because I hold a Nigerian passport and a UK driving license is not allowed so I asked to speak with a superior agent but I could see from reflections of the window that both the agent and the superior was not just interested. The agent rudely terminated my call but I do not blame… Read more »
Speng
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Member
Speng

It’s a European exchange. They can verify EU passports only, they are clear about this.

Guille
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Member
Guille

I’m happy with bitpanda, in general.
I just don’t get why ETH EUR selling rate is +646 when market price is ~624 and dropping.
Fees seem to be too high for short.
Advice? Ideas?
Thx

Steven Hay
Member
Member
Steven Hay
Hey Guille, Well, prices across exchanges often diverge. It’s mostly based on volume. If there aren’t a lot of traders for a certain coin on a certain exchange, then you can expect these kind of divergences. Sometimes they’re an good opportunity, for example when price rises very quickly elsewhere but remains cheap on a slow exchange. I suggest that you find a different exchange for trading ETH but continue to watch BitPanda for these kinds of opportunities, at least if you’re interested in arbitrage trading. If not, just find an exchange with more ETH liquidity so that you always get… Read more »
Stefan Smiljkovic
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Member
Stefan Smiljkovic

I got scammed by Bitpanda, don’t recommend to anyone, except wanna lose ETH.

Ghias
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Member
Ghias

I am happy with the overall service of Bitpanda. The verification process was smooth and the purchase was straightforward. I’m based in the UK and the only issue I faced while paying via Credit Card that my card issuer charged me a Cash Advance fee of 5% of the transaction and that’s on top of the non-sterling exchange fee. According to my card issuer, BitPanda is set up as a Cash Merchant (Quasi Cash Merchant) and not a Retail Merchant, hence the cash advance fee of 5%. Best to either use a Debit Card or via Bank Transfer.

David
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Member
David

Bit Panda is a scam. I was charged £315 in fees (near 9%) because apparently 3rd parties also have fees which are not visible when purchase.

georgi
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Member
georgi

Bad experience with them. Rejected my online verification saying I’m a Romanian national??1 No other explanation and acted like I had fleas or something. No smile, no good-bye no nothing. Just this angry looking guy speaking in a robotic tone and with an unintelligible English. And here I was thinking I can support a local business…I live in Vienna where they are based.

Jerôme
Guest
Member
Jerôme

Hello! I had terrible experience with Bitpanda, cannot get help from them in 2 month trying to sort out a loss of Ethereums, now it has been weeks they do not respond to my e-mails, I lost trust in that company.