I found Bitpanda on a search where to buy cryptocurrency, it gave me the interest to write an article about Bitpanda Review. Bitpanda is the most widely used trading and investment platform in Europe.
The exchange is based in Vienna, Austria. Although the most supported company comes from Europe, worldwide users can use Neteller and Skrill or SEPA transfer for payments.
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Contents
What is Bitpanda?
Bitpanda is a platform that offers easy digital access which is increasingly complex nowadays. The Bitpanda platform was founded in 2014 and until 2021 it has been running for 7 years with the achievement of more than 3 million users. Many team members currently reach more than 500 members with nationalities in 50 countries.
The user-friendly Bitpanda trading platform allows you to gain access to financial markets mainly stocks, cryptocurrencies, and metals.
Bitpanda founding team
Bitpanda was present because of the concerns of the founding team consisting of Eric Demuth, Paul Klanschek, and Christian Trummer.
They see digital access as expensive and complex and many have difficulty getting access to digital investments. That’s why they started building Bitpanda in 2013 until finally launching the platform in 2014.
What is Bitpanda offered?
The Bitpanda platform offers to buy and sell digital assets consisting of financial products cryptocurrencies, Crypto Indices, ETFs, and Metals.
Various digital asset options provide easy access to digital set options that are considered profitable. It is an all-in-one platform for financial market products mainly cryptocurrencies.
Cryptocurrency supported Bitpanda
Although not all cryptocurrencies are available on the Bitpanda platform, especially major coins like Bitcoin, Ethereum, Litecoin are available on this platform.
The following are the cryptocurrencies supported by Bitpanda at press time. The list may change at any time.
Bitcoin (BTC). Ethereum (ETH). Cardano (ADA). BInance coin (BNB). Thether (USDT). Ripple (XRP). Solana (SOL). DOgecoin (DOGE). USD Coin (USDC). Polkadot (DOT). Uniswap (UNI),Bitcoin Cash (BCH), Chainlink (LINK), Litecoin (LTC), Terra (LUNA). Internet Computer (ICP). Polygon (MATIC). Filecoin (FIL). Avalanche (AVAX). Stellar (XLM). Vechain (VET). Theta Network (THETA). Tron (TRX). EOS (EOS). Cosmos (ATOM). Aave (AAVE). PancakeSwap (CAKE). Algorand (ALGO). IOTA (MIOTA). The Graph (GRT). Tezos (XTZ). Klaytn (KLAY). NEO (NEO). Elrond (EGLD). Maker (MKR). Waves (WAVES). Kusuma (KSM). BitTorrent (BTT).Compound (COM). Dash (DASH). Chiliz (CHZ). Zcash (ZEC). NEM (XEM). Decentraland (MANA). SushiSwap (SUSHI).Yearn.Finance (YFI). Synthetix Network Token (SNX). QTUM (QTUM). Basic Attention Token (BAT). OMG Network (OMG). IOST (IOST). DigiByte (DGB). Ontology (ONT). Ox (ZRX). UMA (UMA). 1inch (1INCH). Ocean Protocol (OCEAN). Lisk (LSK). Bitpanda Ecosystem Token (BEST). Band Protocol (BAND). AUgur v2 (REP). Aragon (ANT). Komodo (KMD). Pantos (PAN). Kyber Network (KNC).
Crypto Indices
Another digital asset that is Bitpanda’s investment product can be Crypto Indices. This is a collection of cryptos that are averaged in price. There are three digital assets for Bitpanda crypto indices.
- #Bitpanda Crypto Index 25 (BCI25).
- ##Bitpanda Crypto Index 10 (BCI10).
- ###Bitpanda Crypto Index 5 (BCI5).
BCI25 is an average index of the top 25 cryptocurrencies based on market size and liquidity. BCI10 lists 10 cryptocurrencies based on market size and liquidity and BCI5 lists 5 cryptocurrencies based on market size and liquidity.
Stocks
Bitpanda can be a complete platform giving access to the stock market as well. There is a wide selection of stocks including popular stocks like Facebook, Microsoft, Apple, and many more. The following is a complete list of Bitpanda’s stock assets.
Apple (AAPL). Microsoft (MSFT). Alphabet (GOOGL). Amazon (AMZN). Facebook (FB).Tesla (TSLA). Tencent (TCTZF). Nvidia (NVDA). Visa (V). Alibaba (BABA). LVMH (C). Paypal (PYPL).Mastercard (MA). Walt Disney (DIS). Adobe (ADBE). Netflix (NFLX). L’preal SA (OR). Pfizer (PFE). Nike (NKE).Salesforce (CRM). Coca Cola (KO) Exxon Mobile (XOM). Intel (INTC). PepsiCo (PEP).Shopify (SHOP). SAP (SAP).MacDonalds (MCD). Moderna (MRNA). Volkswagen (VOW). Qualcomm (QCOM). Royal Dutch Shell (RDSA). Astrazeneca (AZN). Unilever (ULVR).BlackRock (BLK). Siemens (SIE). Starbucks (SBUX). AMD (AMD). Boeing (BA). Square (SQ). Snap (SNAP). JD.com (JD). Airbus (AIR). Deutsche Telekom (DTE). Airbnb (ABNB). Allianz (ALV). Daimler (DAI). Zoom video (ZM).Biontech (BNTX). British Pethroleum (BP). Xiaomi ( 3CP) Uber (UBER).
Adidas (ADS). BMW (BMW). CrowdStrike (CRWD).Infineon Technologies (IFX). DocuSign (DOCU). Bayer (BAYN). Coinbase (COIN). Twitter (TWTR). eBay (EBAY). NIO (NIO).Spotify (SPOT) Palantir (PLTR). Roku (ROKU). Baidu (BIDU). Match (MTCH. Cloudflare (NET). Nokia (NOKIA).Delivery Hero (DHER). Peloton (PTON). Etsy (ETSY). Delta Air Lines (DAL). Draftkings (DKNG). MGM resorts (MGM). Fox Corporation ( FOXA).Royal Caribbean (RCL). Carefour (CA). Just Eat Takeaway.com (TKWY). Gamestop (GME). Dropbox (DBX). American Airlines (AAL). Burberry (BRBY).MAC Entertainment (AMC). Ubisoft (UBI). Norwegian Cruise Line (NCLH). Blackberry (BB). TUI (TUI. Globalstar (GSAT). Overstock.com (OSTK).Trip.com (TCOM). Jumia Technologies (JMIA). GoPro (GPRO). Bionano Genomics (BNGO). RealReal (REAL). Cisco (CSCO).
ETFs
- #iShares FTSE100 (FTSE100).
- iShares S&P 500 (S&P500).
- #iShares EURO STOXX 50 (EUROSTOXX50).
- iShares MSCI Emerging Markets (MSCI-EM).
- #iShares NASDAQ 100 (NASDAQ100).
- Lyxor Core DAX (DAX).
- #iShares MSCI World (MSCI-WORLD).
Metals
- Gold (XAU).
- Silver (XAG).
- Palladium (XPD).
- Platinum (XPT).
Bitpanda payment method
For deposit and withdrawal processes, Bitpanda supports several fiat currencies, namely the Euro (EUR), US Dollars (USD), Swiss Francs (CHF), British Pound Sterling (GBP), and Turkish Lira (TRY).
- Euro deposit supports payment SEPA, SOFORT, NETELLER, GIROPAY/EPS, Skrill, Visa, and Mastercard.
- Euro Withdraw supports Bank Transfer, Skrill, and NETELLER.
- US dollar deposit supports Skrill, Visa, and Mastercard.
- US Dollar withdrawal supports Skrill.
- Swiss Franch (CHF) deposit supports SEPA, NETELLER, SOFORT, Skrill, Visa, and Mastercard .
- Swiss Franch (CHF) withdrawal supports SEPA, NETELLER, and Skrill.
- British Pounds Sterling (GBP) supports SEPA, Skrill, NETELLER, Visa, and Mastercard.
- GBP withdrawal supports SEPA, NETELLER, and Skrill.
- Turkish Lira deposit, as well as withdrawal, supports Bank transfer (EFT/Havale).
For the first time, the user must have a verified account. Making deposits and withdrawals without verified status is impossible.
Bitpanda earn
In Bitpanda, users have opportunities to earn rewards from storing BEST tokens in their Bitpanda wallets. BEST is the Bitpanda Ecosystem token which is Bitpanda’s native token.
This offer is only for verified users and at least once a month trading digital assets in Bitpanda ( not Bitpanda Pro). The total reward generated depends on the VIP level.
Another way to earn through Bitpanda is to become a Bitpanda partner. This platform provides users with a free opportunity in the affiliate program. They provide program 20% commission from every customer who registers via an affiliate link.
Another program that earns you is Tell a Friend. Users can invite friends using a special affiliate link. You will get a reward of 10 euros if a friend registers then verify the account then completes a minimum deposit of €25 and trades at least €25.
Education material
Bitpanda provides impressive educational materials. Learn about personal finance, education for beginners, intermediate, and soon to come for experts.
All these materials are written in articles in Bitpanda academy. At the time of the press, there were 23 lessons for personal finance, 25 lessons for beginners, and 24 lessons for intermediate.
What’s even more interesting is that while learning it is possible to receive the BEST coin worth €5 rewards from completing quizzes.
Bitpanda Fees
Bitpanda divides the transaction fee for Premium and Bitpanda Pro. Bitpanda’s premium fee is 1.49%, but users can reduce the fee by up to 20% by using the BEST coin.
For transactions on Bitpanda Pro, use levels for the fee structure for both Maker and Taker. Available levels from 1 to level 7. The level refers to the transaction volume, the higher the level, the larger the transaction volume, the lower the transaction fee.
- Level 1 structure for volumes > 0.0, Maker fee 0.1000%, Taker fee 0.1500%.
- Level 2 volume >100 BTC Maker fee 0.1000%. Taker fee 0.1300%
- #Level 3 volume above >250 BTC, Maker fee, 0.0900% Taker fee 0.1300%.
- #Level 4 volume >1000.0 BTC, Maker fee 0.0750%, Taker fee 0.1000%.
- $Level 5 volume >5000.0 BTC, Maker fee, 0.0600%, Taker fee 0.0900%.
- Level 6 volume >10000.0 BTC, Maker fee, 0.0500%, taker fee 0.0750%.
- Level 7 volume 20000.0 BTC, maker fee 0.0500%, taker fee 0.0650%.
Bitpanda wallet
In general, wallets are divided into four types of wallets, software wallets, cold wallets, web wallets, and hardware wallets. Bitpanda wallet is one of the web wallets provided by the exchange.
They emphasize the safety of funds as securely as possible in an offline wallet that uses state-of-the-art technology. Users are advised to enable 2-factor authentication to protect accounts. Bitpanda wallet also comes with SSL and DDOS protection.
The Bitpanda cryptocurrency address format has a unique character for each token, so users should check that the token address format is correct.
Bitpanda ecosystem token (BEST)
Bitpanda issues the BEST token which is an ERC-20 token running on the Ethereum blockchain. The number of tokens created is 1 billion tokens and will not be increased.
By using the BEST token in the Bitpanda ecosystem, you will get several advantages, including low trading fees. The paid BEST tokens will be burned after three months which will cause scarcity and add value to BEST tokens.
BEST token holders also have different uses for each VIP level. For level 1 having at least 5000 BEST can claim +0.05% additional BEST every month with at least one trade. Leve; 2 needs 50.000 BEST token to right claim +0.10% in BEST, and level 3 needs 500.000 BEST to right claim +0.15%.
Is Bitpanda regulated?
Referring to the official Bitpanda blog page on December 18, 2020, this company will register regulations at the Autorité des marchés financiers (AMF). This is the Financial Markets Authority of France.
Bitpanda is also licensed by the MiFID II investment firm. PSD 2 payment institution, which license page can be seen here.
Where is Bitpanda located?
Bitpanda is located in the heart of Vienna, a city in Austria. All team members work in that city which was agreed upon during the interview.
This company does not offer freelance work and all they offer is for contract employees. Currently over 500 team members.
Is Bitpanda safe and legit?
To say Bitpanda is legit or a scam then the best way is to research how the user experience while using the platform. When referring to a regulated company, this is a serious company and should be a trusted platform.
To research this we used a source from Trustpilot. There Bitpanda received 6,432 reviews up to the time of writing with the following values.
- Excellent review 80%.
- Great review 7%.
- Average review 2%.
- Poor review 2%.
- Bad review 9%.
Getting a 4.5-star rating is a good score. Although there are problematic user experiences about technical errors. But it seems the team is trying to resolve the problem. And the experience of other users who lost funds due to an error in writing the wrong address, it’s not entirely the company’s fault.
Conclusion
Bitpanda is a well-known financial products trading platform mainly in Europe. Cryptocurrency is one of the digital assets traded on the Bitpanda platform.
Although it is based in Vienna Austria, global users can avail of the service using a credit card or global payment methods such as Skrill and Netteler.
Note: This article is for informational purposes only and does not constitute investment advice. Crypto trading, CFD, and forex trading are risky assets, each investor is responsible for their own investment.
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