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Account Minimum: 1 EUR
Fees: From 1.49%
Best For: All-Inclusive Trading Costs
Warning: Trading in cryptocurrency is highly speculative and carries a high level of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose.
Launched in 2014 BitPanda quickly established a positive name and reputation for being a great place to easily buy and sell bitcoin in Europe. Since that time they have built on their stellar reputation to expand rapidly to where they now offer trading in a broad range of cryptocurrencies alongside the ability to purchase precious metals and a host of other services.
We will take a more in-depth look here at all of these services and everything BitPanda has available to satisfy the needs of all traders.
- Well-respected reputation in Europe
- Regulated in France
- Dozens of Cryptocurrencies to choose from
- Trading in precious metals also available
- Fees in several different areas
- Trading platform lacks advanced features
- USA investors are prohibited
As a cryptocurrency exchange, BitPanda was not directly regulated for many years. This has all started to change recently both with the addition of more financial services within the company, to an increasingly regulated mindset being adopted within the sector. BitPanda is now regulated in France by the AMF regulatory body.
This is a very positive move for an already well-respected and trustworthy EU-based service as BitPanda is. Their willingness to be subjected to regulations in France where KYC checks and compliance monitoring are known to be stringent helps demonstrate the seriousness with which BitPanda considers your security as a trader.
Internally, the company also follows all the required regulations when it comes to AML and KYC checking while trying to keep the registration process as fast and efficient as possible. Their website provides a very secure environment where the latest encryption technology is in place to keep all of your trades safe and secure.
BitPanda has also always retained an excellent standing within the community of traders for being secure, easy to deal with, and very transparent in the manner in which they operate including their fees and charges.
BitPanda provides you with an excellent range of cryptocurrencies to trade in first off. You will find all of the major cryptocurrency names you would expect like Bitcoin, Ethereum, Litecoin, and Ripple alongside a very broad offering of other cryptos.
In total, they offer close to 50 cryptocurrencies you can choose from. This positions them well within the sector particularly among those brokers that facilitate an instant crypto purchase. Included in this range is BEST, a native token that BitPanda themselves has launched.
Another extremely unique aspect of trading with BitPanda is you have the ability to buy more than just crypto. You can now invest in precious metals in the form of gold, silver, platinum, or palladium. All are available to be digitally purchased through BitPanda with all purchases physically backed by the actual asset amount in secure storage in Switzerland at no additional cost.
This is one of several innovations as the service continues to grow. They are now also beginning to offer fractional share trading in many big-name companies through the very same trading platform at excellent rates while you can also start savings plans, redeem coupons, instantly swap currencies, and pay with your crypto holdings in the fiat world through BitPanda Pay and a selection of other services.
Commission & Fees
The main fee you will encounter when trading at BitPanda is the actual transaction fee. This is conveniently already rolled into the price of cryptocurrencies that you are trading. This means the price you see for crypto is effectively the price you pay.
The fee is promoted on the BitPanda website as a 1.49% premium for buying and selling. The reality is though that the total amount of the fee can be difficult to distinguish and could vary based on your payment method. The most accurate way to calculate this fee total will be to have another spot price for the cryptocurrency available so you can cross-reference. The premium on metals trading ranges from 0.5% to 2% on buying, and 1% to 2.5% on selling with a storage fee of 0.025% also charged weekly.
Deposit fees at the service range from being completely free if you use a SEPA bank transfer to an upward limit of around 3.6% with several of the eWallets like Neteller, and Skrill. Visa or Mastercard typically have 1.5% fees. Conversion and withdrawal fees may also apply based on the cryptocurrency you are trading, and the account base currency you are operating in.
BitPanda provides trading through its own web-based trading platform. This trading platform is functional both on desktop and mobile and provides a convenient and very efficient way for you to trade.
It is a trading platform that is very easy to navigate and allows for you to execute trades in a manner that is devoid of any complexity, ideal for new traders. The usability of the trading platform seems to be very popular with the more than 1 million-member trading community at BitPanda although for the more experienced trader the lack of any more advanced charting capabilities and tools could prove a stumbling block.
On mobile, while there is no specifically dedicated app trading platform, the web-based platform remains entirely functional to enable trading on the move in any of your assets.
The first point of customer support you will find with BitPanda is through their large and well-provided infrastructure for FAQs. This help area includes the answer and articles on almost all of the most common issues you may face and solutions as to how you can overcome these issues.
Aside from that, and a very strong educational area to keep you evolving and growing as a trader, the customer support operation runs on a 24/7 basis through a ticketed support system. Here you should find a fast and professional response to any questions you raise, particularly during normal hours of operation.
Overall BitPanda is one of the most impressive trading platforms that we have seen emerge from Europe. They are continuously improving the product, and adding new investment options. They offer easy purchase options for a wide range of digital assets, including the ability to invest in tokenized precious metals. The high level of regulation and a reputation for excellent customer service sets this company apart.