Bitpanda
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Kryptos (153)
Bitpanda Review
What is Bitpanda?
Bitpanda is a cryptocurrency exchange from Austria that has been active since 2014.
Bitpanda Advantages
This exchange prides itself with having strong API-applications, high-end servers and a real-time, fully automated order system, which makes them able to provide you with 24/7 service and a secure environment to make your first steps into the crypto world in the best way possible. Two other main advantages they emphasize on its website are that the platform is “easy and convenient” and that you have many different payment methods to use when depositing money to the exchange.
Regulated in France
Bitpanda is registered with the AMF and therefore regulated in France, meaning that the services of Bitpanda are registered with the Autorité des marchés financiers (AMF), the Financial Markets Authority of France. As a registered Digital Asset Service Provider with the AMF, Bitpanda proves that they are a legitimate entity entitled to operate in France and that they care about being as transparent and compliant as possible, thus increasing user confidence and trust.
US-investors
Unfortunately for US-investors, Bitpanda prohibits US-investors from trading on its exchange. So if you are a US-investor and want to trade at Bitpanda, you’ll have to look elsewhere for one of the other top crypto exchanges.
Bitpanda Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the trading views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. As we have not deposited any assets to our Bitpanda-account, we have not been able to access the trading view. This is however the home screen (so you get a sense of the general layout of the platform):
Bitpanda Fees
Bitpanda Trading fees
Always check the trading fees of an exchange you are interested in trading at.
This exchange is different from most top crypto exchanges in the way that it does not offer trading between cryptocurrencies. The only service offered is buying and selling BTC. Buyers pay 1.49% and sellers pay 1.29%. Compared to ordinary centralized exchanges, these fees would be high, but seeing as BitPanda is a bit of another creature (more focused on its fiat-to-crypto channels), such comparisons might be perceived as unfair.
Bitpanda Withdrawal fees
Another fee to consider before choosing which exchange to trade at is the withdrawal fee. The withdrawal fee is usually fixed (regardless of the amount of cryptocurrency units withdrawn), and varies from cryptocurrency to cryptocurrency. The global industry average withdrawal fee is arguably around 0.0008 BTC when you withdraw BTC, but we see more and more changes that have started charging 0.0005 BTC per withdrawal. 0.0005 BTC is thus establishing itself as the new industry average.
Here, at BitPanda, you only have to pay the network fees, meaning the fees that miners receive to confirm transactions. Only charging network fees is competitive.
Deposit Methods
Bitpanda accepts deposits through both wire transfer and credit cards. Many crypto investors of course view this as very positive. You can use SOFORT Überweisung, VISA, MasterCard, Skrill, Neteller, Online-Überweisung, SEPA-payments etc. You can, however, not deposit cryptocurrencies, so the service is more focused on people taking their first steps into the cryptocurrency world.