DeutschBitpanda is one of the best-known crypto exchanges and is used by numerous traders, buyers and sellers in Europe, including Switzerland.
The trading platforms for digital currencies in Europe (based in Vienna) - specializing in trading Bitcoin, Ethereum, and many other cryptocurrencies, also offers a free wallet.
Payment options
Pro
- Very good security concept
- Easy to use and register
- German-speaking customer service
- Savings plans available
- PayPal in DE and AT
- Other assets such as metals available
- Provider from the EU
Contra
- Trading fees
- Fewer currencies tradable
96%
5.0 out of 5.0 stars
Sehr gut
Verified provider
Long-standing expertise
Transparent selection
Regulated platform
The offer does not only consist of trading cryptocurrencies, because Bitpanda also provides the possibility to store the purchased coins on a wallet. In addition, Bitpanda offers the possibility to invest in so-called indices (more on this below). There is also the possibility to invest in a Bitcoin savings plan. It was founded in 2014 and the crypto exchange is based in a neighboring country of Switzerland, namely in Austria (Vienna). The founding story is quite interesting, because the three founding members launched the crypto exchange in particular because, in their view, it was very difficult at that time in Europe to buy Bitcoins quickly and easily. Today, in addition to Bitcoin, many other cryptocurrencies can be traded via the Bitpanda crypto exchange. In addition, the people in charge have launched their own token, BEST. This can be used to reduce costs. A very exciting approach.
Our Experiences with Bitpanda Registration: Quick and Easy
The business idea of the Bitpanda crypto exchange is still based on the fact that speed and simplicity are paramount. This is also evident in the registration that customers have to make if they want to register on the exchange. In this case, the Register button is available at the top right of the homepage. After the selection, you only need to enter your e-mail address and choose a password, which you then confirm. This almost completes the first step of the registration process, because you only have to click on the link in the e-mail to complete the registration. Further data will then be required in the course of the verification process – this includes the unique verification (legal requirement).
How Secure is Bitpanda: Good Security System Including Verification Process
The security system on the Bitpanda crypto exchange is characterized by the fact that it can meet requirements that are standard nowadays. These include the following security measures and components:
- SSL encryption
- Continuous system monitoring
- Use of up-to-date anti-virus and anti-spyware programs
- Daily data backup
- 2-factor authentication
Users from Germany may also
The Trading Offer of Bitpanda in the Test
A small drawback is evident on the Bitpanda crypto exchange when we take a closer look at the trading opportunities. Although digital currencies can be bought or sold at any time under the aforementioned conditions. However, there are currently slightly fewer cryptocurrencies (than for example at Binance, but more currencies than at Coinbase) that can be traded via Bitpanda. For one of the leading exchanges in Europe, this offer is actually too limited. But those responsible have announced that they will steadily expand the offer.
Additional Offers from Bitpanda
We would also like to discuss a selection of special features at this point. Because these offers are quite unique and distinguish Bitpanda from the growing number of crypto exchanges.
- At Bitpanda Metals, in addition to a large number of cryptocurrencies, you can also trade or buy and store metals such as gold or silver. This allows you to diversify your portfolio more broadly.
- The “Bitpanda Card”: A VISA credit card issued by the crypto exchange. With it you can make your purchases with Bitcoin, Ethereum and Co. You also receive a cashback in Bitcoin for every purchase.
- The exchange’s own Token BEST, Bitpanda Ecosystem Token. Users who buy this token and have it in their wallet benefit from discounts on trading fees and have other exclusive advantages (votings, promotions, etc.).
- With Bitpanda Pro there is also an offer that is aimed at professional traders.
Bitpanda Fees: Spread as the Main Cost Factor
A positive aspect of the costs (if you can call costs positive) that are incurred on the Bitpanda crypto exchange is above all that they do not depend on any volume. However, you have to search first, because the fees are basically only presented transparently when you place a trade order, i.e. want to buy or sell a cryptocurrency. The amount of the trading fees depends on which of the four aforementioned cryptocurrencies is traded in detail. In this area, Bitpanda charges a spread, i.e. a difference between the purchase price and the selling price of the respective digital currency. On this basis, the average spreads, which can vary slightly from day to day, range between three and eight percent. Trading with Bitcoins is usually the cheapest, because Bitpanda usually charges a spread of an average of three percent there.
If you want to make deposits in order to then buy Bitcoins, for example, this works on the Bitpanda crypto exchange with almost ten payment methods that are offered in total. The offer is therefore pleasingly large, so that you can not only choose between the classic variants, in particular bank transfer and credit card, but the crypto exchange also provides you with various online payment systems, in particular GiroPay, Skrill and Neteller. In addition, deposits in Germany and Austria are possible with Paypal.
Bitpanda Support: Customer Service Available in German
For traders from Switzerland, it is almost always an advantage if the customer service of a crypto exchange is German-speaking. This is the case with Bitpanda, which is not particularly worth mentioning when you consider that the headquarters are in Austria, i.e. also a German-speaking country. You can contact the employees in particular with a so-called ticket. This is a contact form that you can fill out online. Sometimes the contact is unnecessary, however, because the Bitpanda crypto exchange provides a relatively extensive FAQ area in which the most frequently asked questions about the crypto exchange and trading with cryptocurrencies are already answered. If you like to use social media, you can also contact customer service via Facebook or Twitter.
Conclusion of our Bitpanda Test: many Possibilities on a Single Platform
Overall, Kryptocoin Bitpanda provides a very good overall offer. The security concept is coherent, there is a German-speaking customer service and the registration is uncomplicated. However, Bitpanda does not perform quite so well in the area of costs. However, these costs can be noticeably reduced with the purchase of BEST tokens. With an average spread of around five percent and more (depending on the cryptocurrency), the crypto exchange is certainly not one of the cheapest providers. The numerous offers such as a crypto credit card, the establishment of savings plans and the Pro version make Bitpanda very attractive. The fact that this is a regulated European provider is also a major plus. Overall, we draw a positive conclusion and can recommend Bitpanda – also for Swiss.
The trading platforms for digital currencies in Europe (based in Vienna) - specializing in trading Bitcoin, Ethereum, and many other cryptocurrencies, also offers a free wallet.
Payment options
Pro
- Very good security concept
- Easy to use and register
- German-speaking customer service
- Savings plans available
- PayPal in DE and AT
- Other assets such as metals available
- Provider from the EU
Contra
- Trading fees
- Fewer currencies tradable
96%
5.0 out of 5.0 stars
Sehr gut
Verified provider
Long-standing expertise
Transparent selection
Regulated platform
