Ease of Use
Platform & Account Security
Bitpanda is a cryptocurrency exchange founded in 2014 in Vienna, Austria. This exchange offers a wide range of financial services including trading, their own Bitpand Ecosystem Token, Crypto Trackers, a debit card, and more. Bitpanda also includes a large variety of assets including cryptocurrency, crypto indices, stocks, ETFs, and Precious Metals. Read our complete Bitpanda review now to learn more about this exchange before you sign up.
- Tailored to the simple investor as well as the professional
- Extremely large number of tradable assets, including crypto indices and stock ETFs
- Metals purchased through the exchange are actually owned by the user and stored in a custodial vault
- Large number of supported payment options and deposit methods
- Visa debit card to spend assets like cash, with no attached fees for having the card
- Wellspring of customer resources
- Fees can be a little steep
- Not available worldwide
Diversifying an investment portfolio is often one of the hallmark guidelines for creating a well-rounded investment strategy. As cryptocurrency becomes more widely adopted by mainstream traders, cryptocurrency exchanges within the industry have begun to offer assets beyond what is found in the traditional crypto market. Bitpanda is one of these cryptocurrency exchanges, offering a wide range of financial services to suit nearly any type of investor.
In this Bitpanda review, we will cover each facet of the crypto exchange to help you make an informed decision of whether Bitpanda is the right exchange for you. The topics you will find in this Bitpanda review will include:
- A brief background of the Bitpanda exchange
- The various services that Bitpanda offers
- Bitpanda’s fees
- Exchange security guidelines for those wondering, “is Bitpanda safe?”
- Bitpanda’s customer support and helpful resources
- The process of creating a Bitpanda account
- A rating of Bitpanda compared to other exchanges
As this Bitpanda review is designed to be an informational and educational resource, you should not take the contents within this review as any form of financial advice. You are encouraged to do your due diligence and seek out the advice of a trusted financial advisor before deciding to use any cryptocurrency broker, especially because crypto assets and other tradable assets carry a significant risk that may not be suitable for every person.
A Brief History of Bitpanda
The Bitpanda exchange was initially founded in 2014, in Vienna, Austria, and has gone on to become one of the fastest-growing exchanges in the European continent. The company has strived to implement services on a user-friendly platform that are easily accessible for newcomers and professional traders alike.
Since its introduction in the industry, Bitpanda has grown to have over 600 employees from over 50 different nationalities, with the company supporting over 3 million verified accounts. Bitpanda has made it a mission to establish itself apart from being a standard cryptocurrency broker, and the public has started to take notice of the difference between Bitpanda and other crypto exchanges in the industry.
Is Bitpanda Regulated?
The trading platform is a fully regulated exchange, holding registration with the Austrian Financial Market Authority. The Bitpanda platform is also registered with the French Autorité des marchés financiers. The various payment methods offered by Bitpanda are also licensed with a PSD2 license. If you are interested in having an account on Bitpanda, it is highly suggested that you read through the exchange’s Terms and Conditions, as residents in certain countries and territories (including the US) are not able to use the services that the exchange offers.
Bitpanda Exchange Trading Platform
The Bitpanda crypto exchange has a wide range of assets available to trade on the platform. Whether you are interested in digital assets such as cryptocurrency, or traditional investment vehicles, Bitpanda has you covered.
The crypto exchange features an intuitive user interface that allows you to buy and sell each of the assets directly from the easy-to-use interface. Bitpanda offers the ability to easily swap assets into other assets as well as the option to set up recurring buy orders on digital assets. The interface could be compared to the simple interfaces of other exchanges, such as Gemini, which allow users to execute orders based upon current market price.
Bitpanda also allows you to easily monitor your crypto portfolio and asset investments directly from the user profile via the Bitpanda wallet. Whether you are a newcomer to investing or a veteran trader, Bitpanda has services that will likely suit your individual needs.
If you’re primarily interested in crypto assets, Bitpanda makes it easy to buy and sell the digital assets of your choice. Currently, Bitpanda offers over 80 different cryptocurrencies, including:
- Bitcoin Cash
- Sandbox (SAND)
- PancakeSwap (CAKE)
- SHIBA INU (SHIB)
- USD Coin
Due to the nature of Bitpanda’s intuitive user interface, users can buy and sell cryptocurrencies with a push of a button. Furthering its utility and offerings, Bitpanda also offers the ability to easily swap from one digital asset to another, which helps to save on fees that occur when trading on the platform.
For those that wish to invest in cryptocurrencies without limiting their investment to one digital asset, Bitpanda has the option for users to invest in 3 different cryptocurrency index funds. These are similar to index funds seen in the traditional stock market, with a basket fund created of different assets bundled together. The crypto indices offered on Bitpanda include a Top 5 index, a Top 10 index, and a Top 25 index.
Currently, the Top 5 Index (BCI5) is comprised of the following assets:
- Binance Coin (BNB)
- Cardano (ADA)
- Solana (SOL)
Including the previously mentioned assets, the Top 10 Index (BCI10) is comprised of the following:
- Avalanche (AVAX)
- SHIBA INU (SHIB)
- Polkadot (DOT)
In addition to the aforementioned digital assets, the Top 25 Index (BCI25) is currently comprised of the following:
- Polygon (MATIC)
- Bitcoin Cash
- Stellar (XLM)
- Chainlink (LINK)
- Axie Infinity Shard (AXS)
- Sandbox (SAND)
- Filecoin (FIL)
- Terra (LUNA)
- Crypto.com Coin
- Uniswap (UNI)
- Fantom (FTM)
- Decentraland (MANA)
- Cosmos (ATOM)
- Algorand (ALGO)
Another offering on the Bitpanda exchange is the ability to invest in stocks. However, it should be noted that purchasing stocks within Bitpanda does not actually purchase a share of said stock, but rather, is a form of contract trading based upon the price movement of the stocks offered.
Despite this difference, this method of trading is still viable for building a portfolio, depending on each trader’s preferences. Users can purchase contracts for full shares within the stock, or opt to purchase fractional shares. Users also have access to stock trading 24/7, without the need to worry about markets closing (as seen with the traditional stock markets).
Currently, Bitpanda has over 840 different stocks on its trading platform, including:
- Berkshire Hathaway
- Home Depot
- Commonwealth Bank of Australia
- China Construction Bank
- Bristol Myers Squibb
Similar to the cryptocurrency indices, the Bitpanda platform also offers ETFs of stocks to further diversify investment portfolios. These ETFs are essentially groups of stocks that are categorized by certain attributes (such as location and industry), with the price movement averaged by the performances of each stock. It should be noted that, like the stocks offered on Bitpanda, ETFs utilize contracts that allow traders to capitalize on price movement (without actual ownership of the ETF).
Currently, there are over 80 different ETFs available on Bitpanda, including:
- Top 100 US Tech Stocks (NASDAQ100)
- Top 500 US Stocks (S&P500)
- Taiwanese Stocks
- Vietnamese Stocks
- Top 40 German Stocks (DAX)
- Top 225 Japanese Stocks (NIKKEI225)
- Top 100 British Stocks (FTSE100)
Another unique offering on the Bitpanda crypto exchange is precious metals, giving traders access to one of the oldest markets in human history. With Bitpanda, precious metals that are purchased on the exchange are investment-grade assets accredited by LBMA. In fact, the precious metals purchased are actually stored in a Switzerland-based vault (similar to cold storage with crypto), meaning you actually own the asset once purchased.
Currently, traders can buy and sell the following assets within this market:
BEST (Bitpanda Ecosystem Token)
If earning interest and having access to trading premiums such as discounted fees are of value to you, you will be pleased to know that Bitpanda has a program in place to reward and incentivize its users. BEST, or the Bitpanda Ecosystem Token (built on the Ethereum blockchain), is a system that not only rewards its holders but has mechanisms in place to ensure that the token increases in value.
Originally launched in 2019, BEST grew to a €1 billion market cap, with over €50 million in rewards paid to its holders. Planned in 2022, Bitpanda is rolling out a weekly rewards program, with a minimum of 10 BEST needed to be held to receive bonuses and reduced trading fees.
By holding BEST, users will also have first access to perks such as initial coin offerings of new digital currencies offered on the platform. As with most crypto exchanges that have a similar program, Bitpanda has a tier of different VIP levels determined by how much BEST is held, with benefits expanding the higher the VIP level. The VIP levels and corresponding benefits can be seen in the following infographic:
To regulate the supply of BEST and increase its value and scarcity, Bitpanda has a regular token burn mechanism in place. 25% of trading premiums that are collected from VIP-level BEST holders will be burned to help regulate the supply. In 2022, the token burn will take place monthly until 75% of the overall total supply (which initially started as 1 billion BEST tokens) has been burned. There have been a number of BEST burn events in the past, which can be viewed below:
Bitpanda Crypto Trackers
A new feature that is being implemented into the Bitpanda crypto exchange is the Bitpanda Crypto Trackers service. This is a service that tracks the price movement of crypto assets and allows investors to buy and sell cryptocurrency through an institutional broker. In fact, Bitpanda’s offering is the first service of its kind that is offered in a denomination of the Euro.
The way this works is, the investor sets an order (when buying) with one of the supported partner brokers. The market maker for their broker of choice exchanges the fiat money with the digital assets of choice, which is then examined by an independent administrator. Once the transaction is approved, the funds are stored in a custodial cold storage crypto wallet. The funds will then appear in the user’s portfolio. When the user decides to sell crypto, the process outlined above is reversed, with the exchange depositing the fiat currencies back into the user’s account.
This is especially useful for those who use traditional brokers for stocks that wish to have exposure to the crypto market, without having to have multiple accounts across different platforms. This method also helps to keep the user’s fiat currency in one location, rather than having to deposit fiat money into a number of different platforms. The Crypto Tracker service could also potentially help save on deposit fees that are associated with making bank transfers or a wire transfer to deposit fiat money on the exchange.
Currently, only Bitcoin is supported with the Crypto Tracker service. However, more digital assets are planned to be added and supported, including Ethereum, as well as an index of Bitpanda’s crypto offerings. There are a wide number of brokers already supporting this service (which can be viewed below); it is suggested that if your broker is not currently supported, to contact the broker and see if they will support the Bitpanda service.
While Bitpanda has gone to great lengths to accommodate investors who prefer a simple approach, the exchange does have an offering tailored more to professional traders. This service is called Bitpanda Pro, which is an exchange that allows traders to view the market price in real-time, and create orders based upon the trader’s own individual criteria. Bitpanda Pro is a fully regulated exchange, with an easy-to-navigate interface. All user funds (whether digital currencies or fiat currency) are stored in cold storage for extra security.
Currently, there are over 25 different trading pairs offered with this service, with the majority of the trading pairs denominated in the Euro, with some support for the Swiss Franc (CHF) and the Great British Pound. No matter what fiat currencies the trader uses, there is a minimum of 10 units required to execute a trade. Some of the pairs offered include:
- Bitcoin Cash/Euro
- Ethereum/Swiss Franc
- Bitcoin/Great British Pound
Bitpanda Mobile App
For those that are interested in managing their crypto portfolio and account on the go, Bitpanda’s mobile app will suit your needs. The Bitpanda app features the full capability found on Bitpanda’s desktop website, allowing users to buy and sell cryptocurrencies and other digital assets.
The Bitpanda app also allows a number of different deposit and withdrawal methods with the service. Members can deposit fiat money into their account with a bank transfer, credit card, SEPA transfer, Skrill, GIROPAY, Sofort, and NETELLER. To withdraw money, the same payment options are available, with the addition of Amazon.de vouchers. Users can also send assets to another Bitpanda user free of charge, as well as to friends and family via email (they will have to open an account to claim their funds).
There is also a mobile app available for those that prefer to use Bitpanda Pro. This version of the mobile app consists of the full-functionality found on the desktop website, with the convenience of being able to use it anywhere. Users that opt to go this route can expect to find all of the charting tools and order types that are available on the web-browser based version of the crypto exchange.
Both versions of the Bitpanda app are available for Apple phones (via the App Store), and Android phones (via Google Play). It should be noted that a Bitpanda user that wishes to use both applications only needs to have one verified account, as they can send funds between the different platforms within their account.
Like many other cryptocurrency exchanges in the space, Bitpanda offers a Visa debit card that allows users to utilize their assets to spend like fiat currency. The card can be used anywhere that Visa cards are accepted, with no fees or account fees associated with using the card.
Within the mobile app, the Bitpanda user can assign which assets they wish to have as their primary and secondary spendable assets, as well as view their monthly overview of spent transactions. The cards are protected with Visa’s fraud protection program, with the added ability to activate/de-activate the card with the push of a button.
VIP users who participate in holding BEST can receive Bitcoin for every purchase completed with the card. It should be noted that, because this is a debit card (and not a credit card), no debt can be accrued with using the card. Overall, this can make a great payment method for everyday scenarios, especially for those who enjoy the perks of receiving Bitcoin on all purchases.
In this section of the crypto exchange review, we will cover the various fees associated with Bitpanda. Because Bitpanda has a number of different services offered on its platform, the trading fees one can expect to pay vary depending on the service being used. When using the standard version of Bitpanda, the fee will be automatically factored into the price the user sees when making a transaction.
The trading premiums associated with Bitpanda are as follows:
- Standard version of Bitpanda: trading fee of 1.49% to buy and sell Bitcoin and other cryptocurrencies
- Pro version: Maker/Taker fee model, starting at 0.10% (Maker) and 0.15% (Taker), decreasing with higher trading volume over a 30-day period, with the absolute lowest fees possible being 0.05% (Maker) and 0.065% (Taker)
Trading metals has different fees altogether, with each metal having its own unique fees:
- Gold: Buys have a 0.5% fee, with sells having a 1% fee; free insurance and storage up to 20 grams, with holdings above 20 grams accruing a 0.0125% weekly fee
- Silver: Buys have a 2.5% fee, with sells having a 2% fee; free insurance and storage up to 200 grams, with holdings above 200 grams accruing a 0.025% weekly fee
- Platinum: Buys have a 2.5% fee, with sells having a 2% fee; free insurance and storage up to 20 grams, with holdings above 20 grams accruing a 0.025% weekly fee
- Palladium: Buys have a 2.2% fee, with sells having a 1.8% fee; free insurance and storage up to 20 grams, with holdings above 20 grams accruing a 0.025% weekly fee
There are currently no deposit fees when depositing supported fiat currencies (USD, GBP, CHF, EUR, TRY). However, deposit fees may exist when attempting to deposit fiat that is not one of the supported currencies on the exchange, but these are due to having to use a 3rd party platform for fiat on-boarding and do not exist on Bitpanda otherwise.
Similarly, when withdrawing crypto, users will encounter withdrawal fees. However, withdrawal fees are dynamically adjusted based upon network conditions for each cryptocurrency offered on the crypto exchange.
If you’re wondering about the security of Bitpanda, you can be sure that the exchange has gone to great lengths to ensure the safety and security of its exchange. Bitpanda is a fully-regulated exchange that employs the use of offline wallets and custodial vaults for the storage of user funds. The exchange also regularly monitors its systems to thwart off any malicious attacks.
The exchange offers security measures on the user-end as well, with the ability to enable Two-Factor Authentication. This is a method that requires the use of a 3rd party application that broadcasts a unique identifier code, which the exchange will ask for when carrying out tasks such as logging in and withdrawing crypto. Two-Factor Authentication should be implemented to thwart off any suspicious account activity.
Bitpanda Support and Resources
Bitpanda has a number of different customer support resources available for users that may have questions about the crypto exchange or issues with their account. If you should have any issues that require direct assistance, Bitpanda’s support team is available to contact 24/7. Simply fill out a contact form, and the Bitpanda customer support team will contact you via email with a resolution to your issue in a prompt manner.
For those that have a general question, the Bitpanda Helpdesk is a valuable resource containing answers to commonly asked questions, as well as information about every facet on the crypto exchange. An FAQ can also be found within the Helpdesk.
To keep in touch with the community overall, Bitpanda has a blog that is regularly updated. The blog features articles about new events and exchange implementations to help keep Bitpanda customers informed of the latest happenings. The crypto exchange is also active on a number of different social media channels including:
For those that are newcomers to the cryptocurrency space, the Bitpanda Academy is a wonderful resource that features lessons on different cryptocurrencies as well as financial basics. The crypto exchange has incentivized the Academy by offering BEST rewards for completing lessons.
Opening a Bitpanda Account
Opening an account on Bitpanda is very simple and can be completed in a matter of minutes. To start, simply click on the “Get Started” button found on the exchange’s website. From here, you will be prompted to provide your name, email address, and a password. You will also need to agree to several terms and conditions necessary to use the exchange. After the initial step is completed, you will need to submit personal documents to abide by KYC/AML laws for the verification process, as the crypto exchange is a fully regulated and licensed exchange.
Bitpanda Review Conclusion
Overall, Bitpanda is an excellent exchange for the investor that wishes to diversify their investment portfolio with cryptocurrency, stocks, and metals. The exchange makes it extremely easy to use with their easily-navigable interface. The exchange has a large number of incentives and extra services built into the platform that help it stand apart from other cryptocurrency exchanges in the space.