Bitpanda Review

Hedge with Crypto aims to publish information that is factual and accurate as of the date of publication. For specific information about a cryptocurrency exchange or trading platform please visit that provider’s website. This information is general in nature and is for educational purposes only. Hedge with Crypto does not provide financial advice nor does it take into account your personal financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own inquiries.

Bottom line:

Bitpanda is a reputable and well-established cryptocurrency platform that excels in bringing together beneficial features in one exchange. It has a good mix of products and services, including a crypto exchange, traditional assets, and a debit card to spend crypto, which is suitable for beginners and experienced investors. However, US investors are prohibited, and the fiat-to-crypto trading fees are expensive. Moreover, there is a lack of trading volume and liquidity for high-net-worth investors.

How We Rated BitPanda

Categories	Hedge With Crypto Rating
Features	4.2 / 5
Supported Fiat Currencies and Deposit Methods	3.4 / 5
Supported Cryptocurrencies and Trading Pairs	3.5 / 5
Fees	2.5 / 5
Ease of Use	4.7 / 5
Customer Support	4.5 / 5
Security Measures	4.4 / 5
Mobile App	4 / 5

Bitpanda At A Glance

Exchange Name	Bitpanda
Fiat Currency	Euro, US Dollar, Swiss Franc, British Pound Sterling & Turkish Lira
Trading Pairs	23
Payment Type	Debit/credit card, SEPA, Skrill, Neteller, Bank Wire, Sofort, Giropay & others
Trading Fee	1.49% per trade
Deposit Fee	Depends on the payment method
TP/SL Orders	Yes
Mobile App	Yes

Bitpanda Compared and Alternatives

EXCHANGE	CRYPTO ASSETS	TRADING FEES	RATING	PROMOTION	WEBSITE	REVIEW
Binance	385	0.1% (spot) and 0.02% / 0.04% (Futures)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.8 / 5	Up to $100 welcome bonus	Visit Binance	Binance Review
Coinbase	241	0.4% (maker), 0.6% (taker)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.7 / 5	$5 BTC bonus (USA only)	Visit Coinbase	Coinbase Review
eToro	79	1%	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.7 / 5	None available at this time	Visit eToro Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MSB.	eToro Review

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Bitpanda's Features We Tested

Crypto, Indices, Stocks, EFTs & Metals

The team at Bitpanda believes that individuals should be able to invest easily and securely in the most popular assets. Bitpanda allows its users to buy and sell over 50 cryptocurrencies, crypto indices, stocks, EFTs, and metals, all in one trading account. Popular stocks & EFTs include Tesla, Apple, Facebook, FTSE 100 and NASDAQ 100. This is similar to platforms like Binance, which offer tokenized stocks.

There are 3 crypto indices offered that contain multiple coins for users to gain exposure to the overall market. Stocks and ETFs can be purchased in fractional amounts from as little as €1. These assets can be one-off purchases or recurring orders.

Customers can also purchase metals such as gold, silver, palladium, and platinum, which have historically been considered an excellent store of value and hedge against inflation. The purchased asset is legally owned by the customer and physically backed in a secure vault that is stored in a high-security facility in Switzerland by Brinks. The overall selection of markets on Bitpanda allows users to diversify their portfolio into several asset classes using one trading platform.

Recurring Purchases

Recurring orders, otherwise known as Dollar Cost Averaging (DCA), are a great tool for investors to accumulate a portfolio gradually. The stress of volatility and asset price is negated through recurring orders to set up an automatic and recurring payment that can be daily, weekly, or monthly to invest in crypto over time. The Bitpanda Savings plan will smooth out price fluctuations and take advantage of cost-averaging benefits. Payments can be set up using a credit/debit card or SEPA direct debit.

Bitpanda Swap

Bitpanda Swap enables the instant swapping of one digital asset into another quickly and easily. The service is also simple, secure, and limit-free. The user interface is fast and responsive, and you can instantly swap any supported coin or token on the exchange using the desktop or mobile app for iOS and Android devices. Swapped coins will arrive immediately in the particular wallet, which can be withdrawn.

Bitpanda Card

Bitpanda offers a good debit card to spend crypto, metals, and stocks linked to the wallet at any time or place. The card is integrated with VISA technology, allowing users to spend funds at over 54 million merchants worldwide in 200+ countries. No card fees or monthly account costs are associated with using the Bitpanda debit card.

The card can be linked to a mobile device using the Bitpanda app to monitor real-time purchases. VIP users have an added incentive to spend using the card to earn crypto cashback bonuses per transaction between 0.5% and 2%.

Accepted Countries

Bitpanda is widely supported across the United Kingdom, United Arab Emirates, and Europe for users to deposit funds within the SEPA (Single Euro Payments Area) to buy, trade, and sell digital currencies. Therefore, countries outside this region such as Australia, the United States, Canada, China, South Africa, New Zealand, and Singapore will not be able to complete ID Verification to purchase cryptocurrencies on Bitpanda.

Deposit Methods & Limits

Bitpanda offers a safe and secure platform for depositing funds to buy and sell cryptocurrencies and traditional markets. The supported fiat currencies include the EUR, GBP, CHF, TRY, and USD. Cryptocurrencies and ERC-20 tokens can also be transferred to Bitpanda as deposits to swap for other digital assets.

The supported deposit methods for traditional currencies vary per country and include credit cards (VISA and Mastercard), SOFORT, EPS, Giropay, Neteller, Skrill, Online Bank Transfer, and SEPA. For USA customers, the accepted payment method to buy crypto is using a credit card or Skrill, with the latter being the only available withdrawal method for USD transfers.

Payment Type	Deposit Limit (24hr)	Withdrawal Limit (24hr)
Online payment	EUR 10,000	EUR 100,000
Credit card	EUR 2,500	N/A
Bank transfer (SEPA)	EUR 500,000	EUR 5,000,000

Buying Crypto

Bitpanda platform supports 57 cryptocurrencies that can be bought or sold on the exchange at live prices, such as Bitcoin, Ethereum, Dogecoin, XRP, and BEST, the Bitpanda Ecosystem Token. The exchange lists the large market cap coins, stablecoins, and lesser-known altcoins as speculative investments or for portfolio diversification. The selection of cryptocurrencies and three crypto indices offers a wide range of coins for various investors to gain market exposure.

Buying Bitcoin and other digital currencies with Bitpanda is seamless, fast, and easy. The overall process from creating an account, and completing ID verification to depositing funds has been designed to suit beginners. Buying crypto with Bitpanda does not require advanced knowledge of charting or placing price orders. The overall experience is streamlined with a visually appealing interface that does not have complicated options which can be distracting and confusing.

Bitpanda Pro

Bitpanda Pro is an advanced trading platform for speculating on 23 digital currencies paired against the Euro, Swiss Franc, and Turkish Lira. The user interface on desktop and mobile versions is sleek and intuitive, and it offers advanced trading tools and indicators to suit both retail and professional traders.

The chart in the middle of the layout is quite small and will not suit traders who rely on technical analysis. There is the option for full-screen mode. However, it must be minimized to enter an order. The full-screen mode also does not allow charting with drawing tools, patterns, and lines to be overlaid.

Regarding market execution, Bitpanda Pro offers the option to place a market order, limit order, and stop order. These are the 3 basic order types that can be used to enter a buy or sell position. Compared to the top crypto trading platforms we have reviewed, the selection of order types is limited and does not include advanced orders such as One Cancels The Other, Trailing Stop, Iceberg, and others.

In our opinion, Bitpanda Pro is not suited for beginners as they will find the default trading arrangement to be confronted with the order book, market depth charts, and market history data. A simpler method for beginners is using the Bitpanda swap or exchange service.

Bitpanda Crypto Index

The Bitpanda Crypto Index (BCI10) consists of the top 5, 10, or 25 cryptocurrencies by market size and liquidity that can be bought and sold on the Bitpanda exchange. Customers can purchase the Bitcoin Crypto Index using a single order to gain exposure to the most popular cryptocurrencies. Bitpanda will automatically rebalance the user's portfolio each month based on real-time data to ensure the correct allocation of coins within a portfolio.

The Bitpanda Crypto Indexes offered include:

• Bitpanda Crypto Index 5 (BCI-5) includes the top 5 coins
• Bitpanda Crypto Index 10 (BCI-10) includes the top 10 coins
• Bitpanda Crypto Index 25 (BCI-25) includes the top 25 coins

The benefits of investing in the Bitpanda Crypto Index fund include automatically investing in the best digital currencies within the market and reducing exposure to price volatility. The index can be bought, swapped, and sold like any other cryptocurrency on the exchange. There are zero performance-related fees or fees for assets held by Bitpanda; however, a trading premium of 1.99% is applied for each buy, swap, or sell transaction.

In addition, there is a 1.99% fee to rebalance the coins within the Bitpanda Crypto Index each month. Overall, the Bitpanda crypto index is suitable for beginners who want to easily and safely invest in cryptocurrencies and maintain a well-diversified portfolio. The biggest downside is the trading fees, which are quite high. However, they can be cheaper fees compared to individually buying each coin on Bitpanda.

Bitpanda To Go

Bitpanda collaborated with the Austrian postal office to make cryptocurrency accessible to everyone by establishing a Bitpanda To Go voucher. In Austria, one can get a voucher with cash or other accepted payment methods from any of the 1,750 partnered postal branches.

The voucher codes can be redeemed from a verified Bitpanda account, and the coins will be directly deposited in the person's wallet. Also, when one purchases cryptocurrencies through Bitpanda To Go, the customer gets a significant reduction.

Bitpanda Fees

Individuals who buy and sell cryptocurrencies using fiat money on Bitpanda will be charged a transaction fee of 1.49% per order. The fee can be reduced by 20% by paying with BEST, the utility token of Bitpanda. Overall, the spot fees for buying and selling Bitcoin and other cryptocurrencies are quite expensive when compared to other fiat-to-crypto exchanges. For example, popular crypto exchanges in Europe such as bitFlyer and EXMO have instant trading fees between 0.2% and 0.3%. 

Bitpanda Pro Fees Simplified

Bitpanda Pro uses a maker-and-taker model to determine the transaction fees on the exchange. The highest maker-and-taker fees on Bitpanda Pro are 0.1% and 0.15%. The trading fees on Bitpanda Pro are competitive compared to similar platforms such as Binance, KuCoin, and FTX. However, the exchange liquidity on Bitpanda Pro is average, which can result in slippage and higher spread costs on pairs with low trading volume.

Precious Metals Fees

Buying precious metals on Bitpanda, such as Gold, Silver, and Platinum, has additional fees in addition to a storage fee. For Gold, the buy-and-sell fees are 0.5% and 1%, respectively. The fees for Silver are 2.5% and 2% for buy-and-sell orders. The storage costs for holding the physical assets within a secure vault depend on the metal, which is either 0.0125% or 0.025% of the total amount per week. 

In our opinion, the fees for buying, storing, and selling metals on Bitpanda do not seem to offer high value for money, particularly when investors can buy Bitcoin as a store of value for a much lower fee and store it on a secure hardware wallet for free.

Metal	Storage Fee
Gold	0.0125%
Silver	0.0250%
Palladium	0.0250%
Platinum	0.0250%

Customer Support Info We Found

Bitpanda provides a comprehensive support helpdesk with an online knowledge base. Hundreds of articles within the Help Section answer most of the topics related to getting started with crypto on Bitpanda. In addition, a FAQ section on the website answers the most commonly asked questions about fees, limits, withdrawals and deposits, payment methods, and ID verification. 

For specific queries or troubleshooting issues, Bitpanda has a live chat system to speak with a team member or a contact ticket to send a query. Responses to the ticket system can take more than 48 hours to obtain a return email, which can be expected for a large crypto exchange with over 2.5 million users worldwide but is generally unacceptable for everyday users.

According to Trustpilot, Bitpanda has a 4.5/5 star rating based on 5,882 customer reviews. An estimated 79% of all customer reviews are in the EXCELLENT category. However, the most recent feedback has numerous negative reviews on customer support, which make up most of the complaints on Bitpanda. Long waiting times for support to respond, missing funds, and issues with the ID verification process are the most common frustrations on the exchange.

Mobile App Is Rated Well

The Bitpanda App is available for Android and iOS mobile devices to provide users with an easy way to transact Bitcoin and invest in stocks or ETFs. The app is fast, intuitive, and safe for buying, storing, trading, and selling digital currencies with Bitpanda. The trading app has received positive reviews from customers with a 4.8/5 star rating on Google's Play Store with a total of 16,438 votes.