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Investing in Bitpanda (BEST) – Everything You Need to Know

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Bitpanda's native cryptocurrency are BEST tokens (Bitpanda Ecosystem Token).  These tokens offer benefits to traders, and is currently the best way to invest in the Bitpanda platform.

What is Bitpanda?

Founded in 2014, Bitpanda positions itself as one of Europe’s leading retail brokers for trading cryptocurrencies, precious metals, and more. You can open a free account in Bitpanda in minutes and start investing in stocks, crypto, and metals from the platform with as little as 1 Euro. Bitpanda facilitates the trading of more than 50 digital assets and is trusted by over 2 million users. As a facilitator, Bitpanda stresses removing complicated financial barriers leveraging the potential of blockchain technology and digitized assets. 

To date, Bitpanda has raised nearly $271 million from three investors. These investors include DST Global, Valar Ventures, and Speedinvest. As far as regulatory authorizations and following compliances are concerned, Bitpanda is a MiFID investment firm and a PSD 2 payment institution. It is fully compliant with AML5, with its funds secured in offline wallets. The native token of Bitpanda is BEST. As Bitpanda’s ecosystem token, BEST enables users with a wide range of rewards and benefits. The BEST holders also qualify for Bitpanda’s loyalty program. 

What Problem Does Bitpanda Attempt to Solve?

The Bitpanda ecosystem helps investors invest in the crypto market. It also assists them in learning about the crypto market, its fees, the trading process, and special products, such as NFTs. 

#1. Bitpanda offers an all-in-one platform for people to invest in cryptocurrencies, crypto indices, stocks and ETFs, and metals. Often, diversified investors suffer from having to deal with multiple platforms for different asset classes. Bitpanda addresses this issue promptly. Leveraging the platform, you can buy, sell, and swap the cryptocurrencies you want anytime, anywhere. If you are looking to invest in the entire market, the crypto indices investment features equip you with auto-investments in the whole crypto market with a single click. You can also invest in stocks and ETFs along with physically-backed precious metals. 

#2. With Bitpanda, you can start investing in tokenized stocks and ETFs with as little as 1 Euro. In effect, the platform removes the barrier to entry created by the constraint of funds. Bitpanda helps invest in fractional shares. With fractional shares, you can invest in stocks and ETFs that cost hundreds or thousands of Euros for a single share with just 1 Euro. This facility gives you the flexibility to invest as much as you want in the companies or ETFs you prefer without worrying about the minimum threshold amount you need for even a single share. 

The Product Development Process at Bitpanda

Bitpanda services are available as an application on both the iOS app store and the google play store. The application uses best-in-class servers, robust API applications, and secure offline wallets. The android app has a fully automated order system, available 24/7. In this application, you can select between multiple payments and payment providers. The list of choices includes credit card, NETELLER, Skrill, SOFORT-Transfer, GIROPAY, Sepa, Amazon, and many more. The iOS application also has almost the same facilities. Using the app, you can send digital assets to other users instantly and completely free of cost. You can also send them to your email address. All the recipient needs to have is a Bitpanda account. 

Bitpanda Products

#1. Bitpanda Card

The Bitpanda Card is a debit card offering you provisions to spend your cryptocurrency, metals, and stocks. You can spend anything, anywhere. It comes with a Visa logo. More than 54 million Visa merchants in more than 200 countries accept the card. You do not need to incur any card fees or monthly account fees. With the Bitpanda card, you also get opportunities to qualify for up to 2% cashback per transaction, and up to 2.25% off on forex fees. The card is backed by Visa security and fraud prevention while blocking and unblocking is as convenient as a tap. The card also comes with an extra 3DS protection for an added layer of security. 

#2. Bitpanda Savings 

With the Bitpanda savings plan, you can build your portfolio for digital assets. The plan enables you to invest automatically. It will buy Bitcoin, Ethereum, or gold for you at the set time. You can create your personal savings plan using your existing Visa, Mastercard, or SEPA debit card. The recurring buys execute themselves automatically afterward. You are free to set up as many savings plans as you want and for any digital asset that Bitpanda supports. To create a personal savings plan on Bitpanda, all you need to do is log in to your account and pay with the currency you want. 

#3. Bitpanda App

The Bitpanda app offers the optimal mix between speed, reliability, and security. The premiums start at 1.49%, which is the cheapest for instant Bitcoin trade. It has diverse payment and payout options that we have already discussed. You can buy Bitcoin, Ethereum, IOTA, and more on your phone, while you can send digital assets free of charge. 

On the Google play store, the Bitpanda app has registered more than 500,000 downloads so far, with a rating of 3.8 out of 5 from more than 13,000 reviews. The rating is a bit higher, 4 out 5, on the iOS app store. However, it has got 229 reviews only in the iOS app store. 

BEST Token

BEST is Bitpanda’s ecosystem token. The holders of BEST get a host of advantages. Everyone who uses BEST to pay trading premiums on Bitpanda and trading fees on Bitpanda Pro becomes eligible for a discount of 20%. In addition to the discount, Bitpanda also guarantees a minimum value for BEST when paying trading premiums on Bitpanda and Bitpanda Pro. For 2021, this minimum guarantee value is 0.132 euros. This value will increase by 10% each year and for the following five years. BEST tokens also bring governance rights once you cross a minimum threshold.

With at least 5,000 BEST tokens in your wallet, you get to access exclusive BEST VIP votes. With this voting right, you can have a say in strategic decisions like which digital assets you want to be added next. If you are the BEST VIP of level 2 or level 3, you get the benefits of 20% lower deposit fees on credit cards and 25% lower deposit fees on SOFORT. Bitpanda burns a part of the BEST tokens spent on trading platforms each quarter until it manages to destroy 50% of the total BEST. To qualify for BEST VIP level 2 and 3, you need to hold a minimum of 50,000 and 500,000 BEST tokens.

The BEST token was launched by Bitpanda in August 2019. The Initial Exchange Offering of IEO fetched more than 43 million Euros. BEST works as an ERC-20 token on the Ethereum blockchain. While Bitpanda created 1 billion BEST tokens, to begin with, it only offered 500 million during the IEO. The circulating supply of Bitpanda is a little more than 394 million tokens now. 

Where to Buy Bitpanda (BEST)

Bitpanda (BEST) is currently available for purchase on the following exchanges.

BitPanda – This is the best option for residents of Europe.  Note: this exchange does not accept residents from outside of this region.

Bitpanda – High Growth Potential

Bitpanda is a service known for its versatility and inclusive offers. You can trade in crypto, stocks and ETFs, commodities, and crypto indexes. Within cryptocurrencies, it offers a wide range of coins for buy/sell transactions. You get to trade in Bitcoin, Litecoin, Ethereum, Dash, Ripple, Bitcoin Cash, Komodo, IOTA, EOS, and more. To supplement, Bitpanda offers you trading opportunities in Fiat as well. It accepts USD, EUR, GBP, and Swiss Franc. Among payment methods, Bitpanda accepts Credit and Debit cards, SEPA, bank transfer, EPS, GiroPay, Sofort, and a lot more. The transaction fees are as low as 1.49% and you can start trading with as low as 1 Euro. 

All of these combined, Bitpanda is a one-stop shop for traders and investors with the minimum possible barrier to entry. With interests in diversified investments, including crypto assets, going up, Bitpanda user volume will only grow in the days to come.

Gaurav started trading cryptocurrencies in 2017 and has fallen in love with the crypto space ever since. His interest in everything crypto turned him into a writer specializing in cryptocurrencies and blockchain. Soon he found himself working with crypto companies and media outlets. He is also a big-time Batman fan.