Your capital is at risk.
Bitpanda Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- EUR 10
- Web
- Mobile application
- AMF (France)
- BaFin (Germany)
- All popular cryptocurrencies and coins (over 3,000 positions), only EUR participates in fiat trades, trading fees depend on many factors, there is a fast exchange, staking is provided, the trader can participate in the Cash Plus program
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- EUR 10
- Web
- Mobile application
- AMF (France)
- BaFin (Germany)
- All popular cryptocurrencies and coins (over 3,000 positions), only EUR participates in fiat trades, trading fees depend on many factors, there is a fast exchange, staking is provided, the trader can participate in the Cash Plus program
Our Evaluation of Bitpanda
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Bitpanda is a cryptocurrency exchange with higher-than-average risk and the TU Overall Score of 4.8 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Bitpanda clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
Bitpanda is a veteran player in the cryptocurrency market, offering a reliable platform with a wide range of trading and non-trading opportunities. Liquidity is high, and all transactions are executed promptly. Clients operate in very comfortable conditions, using a 1:2 leverage if needed (relevant for cryptocurrencies). Additional options include savings and passive income. The Academy offers approximately 100 lessons for beginners and advanced users alike.
Brief Look at Bitpanda
Bitpanda platform offers cryptocurrencies, crypto indices, precious metals, CFDs on stocks, commodities, and ETFs. In total, there are over 3,000 assets available. Trading is conducted through an in-browser platform or a mobile application for Android and iOS devices. Additionally, the Bitpanda Swap service allows for instant exchange of cryptocurrencies. The trading fee depends on the asset, the direction of the trade (buying or selling), and other factors, such as holding the platform's native token, BEST, in the user’s wallet. Fees typically range from 0.5% to 1.5%. Fiat deposits and withdrawals are facilitated through Visa and Mastercard, bank transfers, Neteller, Paypal, Skrill, GIROPAY, SEPA, among other methods, with potential Bitpanda fees. If a trader initiates a cryptocurrency transfer, only network fees apply. Additional income can be generated through staking, Cash Plus service, and two types of affiliate programs.
- The only cryptocurrency platform offering five other types of assets for trading alongside cryptocurrencies;
- Convenient, multifunctional browser platform and mobile application, allowing for 24/7 financial instrument trading;
- The BEST token from Bitpanda provides a wide range of benefits, including fee discounts on exchanges, cashback on withdrawals, increased staking rewards, and participation in prize draws;
- Staking yields up to 26% annually, up to 4.92% in Cash Plus, and the partnership program can bring in up to $100 for each referred user;
- Traders can order a Bitpanda Visa debit card for EUR 9.90, with global payment availability and quick, low-fee withdrawals;
- The exchange is officially holding European licenses: AMF in France and BaFin in Germany;
- Crypto assets are stored in cold wallets, with infrastructure and systems protected using advanced encryption technologies, employing modern KYC registration and verification procedures.
- Trading fees are not explicitly stated but are included in the buy/sell price, slightly above the average market level overall;
- Limited accessibility outside the European Union, with many services restricted or unavailable;
- Lack of analytical and forecasting tools, despite their claimed presence.
TU Expert Advice
Financial expert and analyst at Traders Union
The Bitpanda brand is owned by Bitpanda GmbH founded back in 2014. The Austrian cryptocurrency exchange primarily targets clients from European Union countries. It guarantees a high level of security and a well-established service, holding 12 licenses.
Clients have the opportunity to trade cryptocurrencies, but that's just the tip of the iceberg. The platform offers crypto indices, precious metals, CFDs on stocks, commodities, and ETFs. As a result, traders can build an extensive, diversified portfolio, thus protecting themselves against unpredictable movements in the quotes of specific assets.
To start trading, a deposit of EUR 10 is sufficient (equivalent in eight other supported currencies). For cryptocurrencies, each has its own minimum deposit, which needs to be clarified on the website. Trades are executed from EUR 1. The leverage is 1:2, but it is not applicable to all assets. Liquidity is always high. Trading can be conducted directly in the browser or via the mobile app, both options being intuitive, functional, and highly demanded.
The platform's trading fees are not directly specified on the website, there are rather vague formulations. The reason is simple – the final fees are determined based on many factors, from the bought (sold) asset to the current market trends. The average fee is 0.5-1.5%, but under certain conditions, it can go up to 5%. There's an excellent way to reduce fees to almost zero - to hold the exchange's BEST token. This asset, created on the Ethereum blockchain, was launched in 2019. The token genuinely brings a lot of benefits to its holders.
Deposits and withdrawals are streamlined to the maximum. The process takes minimal time and often comes with no or minimal fees. Initiating a bank transfer or a transaction using a cryptocurrency wallet is the most advantageous. Bitpanda issues its own debit card, the ordering of which is logical for those aiming to save.
For those prioritizing passive income, staking and the Cash Plus option will be of interest. And within the framework of the referral program, a trader can earn up to $100 per each referral. Joining the Bitpanda Club allows gaining extended support and a range of privileges.
Unfortunately, regular users can only contact client service managers through a request on the website. So, high responsiveness to inquiries is often not the case. It's also essential to note that clients from outside the European Union will encounter certain limitations, sometimes even a ban on trading (only instant exchange is allowed).
Despite some drawbacks, the overall impression of the Bitpanda cryptocurrency exchange is quite positive. It is recommended at least for familiarization.
Bitpanda Summary
Your capital is at risk. Your capital is at risk. Cryptocurrency trading can be extremely risky. Cryptocurrency trading can lead to large and immediate financial losses. The volatility and unpredictability of the price of cryptocurrency relative to fiat currency may result in significant loss over a short period of time. Transactions in cryptocurrency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. The nature of cryptocurrency may lead to an increased risk of fraud or cyber attack.
| 💻 Trading platform: | Integrated into the browser, a mobile application for devices with iOS or Android operating systems |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptocurrencies, EUR, CHF, GBP, USD, PLN, DKK, SEK, HUF, CZK |
| 💵 Replenishment / Withdrawal: | Visa and Mastercard cards, bank transfer, Neteller, Paypal, Skrill, GIROPAY, SEPA, and others, cryptocurrency wallets |
| 🚀 Minimum deposit: | 10 EUR |
| ⚖️ Leverage: | 1:2 (for cryptocurrencies) |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | N/A |
| 💱 Commission: | No |
| 🔧 Instruments: | Cryptocurrencies, crypto indices, precious metals, CFDs on stocks, commodities, and ETFs |
| 💹 Margin Call / Stop Out: | N/A |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | N/A |
| ⭐ Trading features: | All popular cryptocurrencies and coins (over 3,000 positions), only EUR participates in fiat trades, trading fees depend on many factors, there is a fast exchange, staking is provided, the trader can participate in the Cash Plus program |
| 🎁 Contests and bonuses: | Yes |
Bitpanda has set an acceptable minimum deposit of EUR 10 (equivalent in 8 other currencies). Funds can also be deposited in supported cryptocurrencies, each with its own initial threshold. Leverage is only provided for crypto assets. Its ratio is 1:2, which is significantly lower than that of most other exchanges. This implies that Bitpanda does not encourage extremely aggressive trading with significant risks. The platform's technical support operates 24/7. It is available through the form on the website, and members of the Bitpanda Club also have the option to contact the concierge service or submit a callback request.
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Commissions & Fees
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | 1.5% | Available in most cases |
Withdrawal/deposit fees are not charged on bank transfers. If Visa or Mastercard cards or online services are used, the exchange fee will be 1.5-3.5% of the amount. In the case of cryptocurrencies, everything depends on the asset. For example, depositing bitcoins will cost 0.0001 BTC, and withdrawal will cost 0.00008 BTC (as of January 21, 2024). These are network fees.
| Broker | Average commission | Level |
|---|---|---|
|
$1.5 | |
|
$20 | |
|
$0.1 |
Investment Options
Additional earning methods are highly sought after by users of cryptocurrency exchanges. In response to their requests, staking and partnership programs are most commonly offered. They are also available at Bitpanda. Additionally, there is the Cash Plus service.
Staking
In staking, a trader locks a certain amount of coins in their wallet, which operate based on the PoS algorithm. They are used to validate transactions on the blockchain network. In return, a reward is paid, which depends on the asset, investment amount, and lock-up period. As of the beginning of 2024, Bitpanda offers staking for 33 coins, both popular and lesser-known. For Ethereum (ETH), the annual reward rate is 3-5%, for Solana (SOL) 4-6%. The highest yield is provided by Axie Infinity (AXS) at 23-26% annually. The trader will get the maximum percentage if they hold the BEST token in their wallet. Funds can be withdrawn from staking at any time without losing the accumulated income. This feature sets the platform apart. Payouts occur weekly.
Cash Plus
This is the second passive income option. Essentially, the trader invests in a money market fund from BlackRock ICS. It focuses on investing in short-term securities with a low level of risk. The income depends on the currency in which the derivative contract is signed. It is 3.10-3.49% for EUR, 4.26-4.79% for GBP, 4.37-4.92% for USD. Once again, the presence of the BEST token affects the profit percentage.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Partnership Program
Everything is standard with the Partnership Program of this broker. The trader submits an application and, upon approval, receives a personal partnership link and various promotional materials to use to attract new clients to the platform. Their earnings amount to up to 20% of the fees paid by those clients. Tracking of statistics is done in the Impact service. The number of referrals is unlimited. Payouts are made monthly.
Invite a Friend
Another option for the partnership program. It involves sending personal invitations to friends or acquaintances. A purchase of cryptocurrencies or crypto indices (only these types of assets are considered) worth EUR 500 by the referred user guarantees a reward of EUR 5 to both parties. And so on. Investing EUR 10,000 or more will provide a reward of EUR 100 for each.
User Satisfaction