Is Bitvavo a Good Crypto Exchange for Beginners?
It is important for novice cryptocurrency traders to choose the right crypto exchange. Not all companies can be used when you are just starting your path in trading, which is why the success in cryptocurrency trading depends on making the right choice. Beginners often wonder whether Bitvavo is a good crypto exchange to start trading with. In this article you will learn whether Bitvavo is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker Bitvavo
The Bitvavo exchange is one of the most popular platforms for margin trading in cryptocurrencies in Europe. More than 50 cryptocurrencies and tokens are traded on the exchange. In total there are over 70 trading instruments, including fiat funds. On Bitvavo you can trade Bitcoin, Ethereum, Litecoin, and other cryptocurrencies. There is a hot and cold storage method, and convenient input/output channels are provided. There is basic and advanced AML verification, a typical affiliate program with referral payments. The cryptocurrency exchange does not have a mobile application, its own trading terminal is available only in the browser version. Commissions are below the market average: for the entry-level - 0.25/0.15% (for the taker/maker, respectively).
| 💰 Account currency: | EUR, Cryptocurrencies |
| 🚀 Minimum deposit: | No |
| ⚖️ Leverage: | No |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, EUR |
| 💹 Margin Call / Stop Out: | No |
Bitvavo Pros and Cons
👍 Advantages of trading with Bitvavo:
•no minimum deposit;
•many trading pairs, including pairs with fiat funds;
•in the trading terminal there’s not only the crypto exchange but also the exchanger;
•operating commissions are below the market average;
•a serious level of verification to ensure safety;
•suitable for both beginners and experienced traders;
•the crypto exchange operates under an official license.
👎 Disadvantages of Bitvavo:
•from fiat funds there are only euros;
•extended AML verification is required to access the full functionality.
What is a Good Crypto Exchange for Beginners?
In order to choose the right broker for a beginner, you need to consider several aspects.
Here are the main ones:
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Education. It is important for novice crypto traders to learn how to trade. An exchange can offer educational courses, video tutorials, articles, webinars, etc. The more learning opportunities there are the better.
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Availability of a demo account. You will need this account to practice. It provides an opportunity for a beginner to trade risk free and try out trading strategies.
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Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.
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Low fees. The level of income of the trader depends on the level of the fees. Therefore, it is important to choose a company that charges minimum fees. Crypto exchanges mostly use the Maker and Taker fee model. It is important that you study them.
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Instruments for passive investing. In addition to active trading, passive income is also important for beginners. Pay attention to availability of copy trading or staking.
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Trading platform. It is important for a novice trader to choose the simplest trading platform that will be easy-to-use for trading.
In addition to these factors, you also need to consider how customer support operates, as it will also be important. Bonuses for beginners are also a nice perk.
Trading Conditions for Bitvavo Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. Bitvavo offers traders the following conditions.
| 💻 Trading platform: | Own platform |
| 📊 Accounts: | Standard |
| 💰 Account currency: | EUR, Cryptocurrencies |
| 💵 Replenishment / Withdrawal: | EPS Überweisung, MyBank, Sepa, Sofort, Giropay, iDeal |
| 🚀 Minimum deposit: | No |
| ⚖️ Leverage: | No |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, EUR |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | No |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | No data |
| ⭐ Trading features: | All major cryptocurrencies and euros are traded, in addition to margin trading, there is an exchanger, low commissions, AML verification |
| 🎁 Contests and bonuses: | No data |
Commissions and Fees
The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of Bitvavo commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
The Bitvavo crypto exchange charges commission fees on all trades, but fees differ for taker and maker. The amount of fees depends on the trading level, which is determined by the trading volumes. There are nine trading levels in total. At the lowest level, the commission is 0.25/0.15% for the taker/maker. At the highest level, 0.04/0.01% is for the taker/maker.
There are no absolute deposit fees, but there are relative fees that depend on the channel used. For example, there is no commission for Bancontact, while for Sofort it is the highest at 2.25%. Limits on the maximum amount of input also differ. For example, there is no deposit limit for SEPA (bank transfer), but for iDeal, the limit is EUR 10,000.
There are also commissions and withdrawal limits, but in this case, everything is determined by the withdrawn asset. For example, for Cardano, you can withdraw at least ADA 1, the fee is always strictly ADA 0.2. Withdrawal fees are not interest-based but fixed.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | From 0.04% per market order | Yes |
Investment programs of Bitvavo
It is important for novice traders not only to trade actively, but also earn passive income. Passive investing can help you earn extra profit, and also compensate for the losses you may incur as a result of active trading. Bitvavo offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
The Bitvavo crypto exchange does not provide investment programs. Platform users can only earn by buying/selling cryptocurrencies. A referral program can be considered a source of passive income.
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 thedeal and all the steps from signing up to withdrawal of profits.
Bitvavo’s affiliate program
The Bitvavo crypto exchange has a standard referral program. But it still has some differences from most similar programs offered by other cryptocurrency exchanges. The user does not need to take any additional steps, the algorithm is simplified as much as possible:
After registration on the site, a referral link will be available in the user's personal account.
A referral link can be provided to someone personally, placed on your blog, channel, or public venue.
A user who registers by following your link will bring you 15% of the exchange commission for each transaction.
All information on referral payments is presented in the section of the same name of the personal account. The referral status is unlimited and the invited user will bring you income all the time while trading on the exchange.
Conclusion. Is Bitvavo good for beginners?
The Bitvavo cryptocurrency exchange will be an excellent choice for beginners. The exchange offers a convenient trading platform, which a beginner can learn to work with rather quickly. There is an excellent education center with a large number of materials for novice traders. Also, traders can earn passive income on good conditions. Therefore, Bitvavo could be considered as a good cryptocurrency exchange for a start.
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FAQ
What do I need to know about the fees charged by cryptocurrency exchanges?
The majority of cryptocurrency exchanges use the Maker/Taker fee model. As a rule, they use a multi-level system for traders that depends on the trading volume. The higher the trader’s trading volume, the lower the fees.
How do I choose a reliable cryptocurrency exchange?
Crypto exchanges mostly operate without licenses, as the majority of countries haven’t adopted legislation to regulate them. In order to choose a reliable exchange, you need to find out about its reputation and read the reviews about user experiences with it.
How many cryptocurrencies could a crypto exchange offer?
The number of cryptocurrencies on the listing of a cryptocurrency exchange may be very different. Some platforms offer less than 10, while others – several hundreds. It is important that you check the choice of cryptocurrency before registering on the exchange.
What are the risks of investing in cryptocurrencies?
Investing in cryptocurrencies carry high risks due to their high volatility. It could cause substantial losses, which is why it is important to observe the rules of risk management.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.