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If you reside in the EU, finding a reliable cryptocurrency trading platform can sometimes be a bit of a challenge. Sure, there are quite a few amazing options available, but even then, how do you go about picking the best one? Well, in this Bitpanda review, we’ll take a look at and discuss one of the more-interesting options.

Bitpanda has been around for quite some time now, and has managed to build itself a reputation of being a very reliable and trustworthy platform for exchanging crypto. Though, it's not actually a crypto exchange, it's a broker for crypto, stocks, indices, ETFs, and precious metals. Thus, it’s often preferred by advanced crypto traders, simply because of its various trading options that involve traditional and crypto assets.

Of course, that does not mean that a beginner cryptocurrency enthusiast won’t find value within the platform, because it actually is easy to use. However, it's probably safe to say that platforms such as Coinbase and Binance will suit individuals looking for the traditional crypto exchange experience better.

That said, let’s not waste any time and check the site out ourselves!

Matt Zhang

Co-Founder at ZippyChain.ai

Is the use of blockchain technology, with its inherent security features, a reliable solution for protecting user data on crypto exchanges?

Blockchain has provided inherent advanced security features to protect user data on crypto exchanges. However, it's not a standalone system and may still be exposed to various vulnerabilities. For example, the user interface, wallets, or centralized databases can still be vulnerable to attacks.

Pros

  • Beginner-friendly
  • Free deposits and withdrawals
  • Over 400 different cryptocurrencies
  • Multiple payment options
  • A wide variety of additional services

Cons

  • Reports of slow customer support responses

Bitpanda Review: PROS

As per usual, we’ll start off this Bitpanda review by discussing the main benefits of the crypto broker in question. The users of this platform do appear to have some strong opinions about it, and - happily - most of them are rather positive!

By the way, a crypto broker is not the same as a crypto exchange. The former acts as an intermediary between users and crypto markets. Besides, a broker sets its own prices and fees. A crypto exchange, on the other hand, is an online platform that allows buyers and sellers to trade crypto with each other based on current market prices.

Multiple Cryptocurrency Support

One of the first things that are worth noting when discussing Bitpanda is the fact that the platform supports a relatively wide assortment of cryptocurrencies - over 400, to be semi-exact.

That’s rather decent! Admittedly, it’s a smaller number of coins than you’d find on some other crypto exchanges or brokers, but user Bitpanda reviews point out that the platform does allow you to purchase and trade the vast majority of the most-popular crypto coins out there.

This is great for beginner crypto enthusiasts. If you’re just starting out with crypto, chances are that you’re going to want to stick to the more well-known coins and tokens either way. That’s because, if you have no prior knowledge about cryptocurrencies, starting out can be difficult enough as it is - with the most popular coins, you might be able to ease that burden significantly.

Bitpanda review: supported assets.

That being said, though, advanced crypto traders will also find the majority of coins that they’d want to trade on Bitpanda. Unless you’re looking for some very niche cryptocurrency, Bitpanda won’t disappoint - the platform supports BAT, Cardano, IOTA, Lisk, and many other, less-known crypto assets.

If you are looking for a huge variety of less-known crypto assets, there are crypto trading sites out there that offer many more options as far as cryptocurrency count goes.

Naturally, you could also just register on a couple of exchanges and brokers at one time, and use them in accordance with your wants and needs. While it’s surely an option for some, though, it might not be ideal for others! If you don't want to use multiple platforms at once, you could just pick either Bybit, which offers over 1,100 crypto assets, or KuCoin, which offers over 800 assets, and be done with it.

However, let's get back to Bitpanda. As noted before, the platform also allows you to invest in some other assets, too, ones that do not relate to cryptocurrencies. For example, you can invest in gold, stocks, or commodities, among other things! Sure, this isn’t something that would be very relevant to this Bitpanda review, but still - it’s nice to know that such a possibility does exist.

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Reliable Security Features

Security is obviously one of the most important features that you should look into when choosing the right crypto exchange or broker for yourself. Most of the user Bitpanda reviews found online will actually tell you that it should be considered THE most important feature. That makes sense!

Without proper security measures in place, the platform risks being compromised, hacked, or broken-into, which, in turn, would mean that your assets might be stolen.

Not ideal.

Admittedly, you should always take security very seriously. Thankfully, though, it’s also not something to be concerned about when it comes to Bitpanda.

The crypto broker in question offers top-tier security features, same as any other high-end crypto trading platform. You have the option to set two-factor authentication, and there are special protections against DDoS attacks in place, too (in addition to all of the protection measures that an SSL certificate offers). Plus, Bitpanda's infrastructure and systems are secured with advanced encryption technologies.

Bitpanda review: regulations and security.

On top of that, Bitpanda does offer yet another amazing crypto asset protection feature - offline storage.

While it’s definitely not something unique to the broker that we’re currently discussing, offline storage is actually one of the best methods of how both you and the platform you're using can protect your assets from hackers and thieves. When you store your cryptocurrencies in cold wallets, you keep them offline - this way, they’re impossible to be reached by a hacker!

By the way, Bitpanda is regulated and licensed all across Europe. It has various VASP registrations, as well as MiFID II, E-Money and PSD II licenses. Also, Bitpanda Payments GmbH has a payment service provider license under PSD2, and the platform's verification processes are fully compliant with AML5.

All things considered, I would definitely agree with most of the user Bitpanda reviews - regarding the matter of security, Bitpanda truly is a top-tier crypto broker!

No Deposit or Withdrawal Fees

When you’re searching for the best cryptocurrency exchange or broker for yourself, fees are undoubtedly something that you’ll have to pay close attention to. It’s important to find a platform that would offer you some amazing security features, sure, but it’s also crucial that it wouldn’t strip all of your potential profits with its fees!

There is frankly only one type of Bitpanda fees that you should look out for - trading fees. Different platforms will have many additional features and fees, sure, but these three are the main ones that you should pay attention to.

As far as this topic is concerned, multiple user Bitpanda reviews will likely inform you that the broker in question is relatively decent with the fees that it employs.

Crypto trading Bitpanda fees reach up to 1.49%. That’s definitely not the lowest fee that you’ll come across (some platforms offer 0.1% trading fees!), but it’s also far from being the biggest, too.

Bitpanda review: zero fee deposits.

When it comes to deposit and withdrawal fees on Bitpanda, they used to vary quite a bit, depending on some specific factors. The fees changed based on whether you were depositing or withdrawing fiat money or cryptocurrencies, the amount, your region of residence, the method of deposit / withdrawal, and so on.

Based on some user Bitpanda reviews, these specific fees were not that much higher than what some other crypto trading platforms offered.

However, all of that is in the past. Now, there are no Bitpanda fees for deposits or withdrawals, no matter the currency or the payment method you're using! That's definitely a huge perk.

Accepts a Wide Variety of Payment Methods

Probably one of the coolest features mentioned in quite a few user Bitpanda reviews is the fact that the crypto broker allows you to utilize a wide assortment of different payment options.

That’s actually really important! You see, with many crypto exchanges and brokers out there, it can be quite difficult to make a simple deposit. For example, if a platform only supports cryptocurrency deposits, you would have to actually purchase that cryptocurrency on some other site, and then come back to that particular platform to make a deposit.

As you can probably tell, this might not only be tedious and annoying, but also very confusing, too.

Bitpanda review: deposit methods.

Yet again, though, it’s not something that you’d need to worry about concerning Bitpanda. This platform does actually offer a vast list of payment options!

The ways that you can make a payment on Bitpanda include, but are not limited to, credit & debit cards, bank transfers, SEPA & Skrill, cash deposits, Sofort, iDEAL, PayPal, and so on.

Truth be told, no matter how you choose to go about it, depositing funds into Bitpanda (making payments) is possible in a wide variety of options. Also, don't forget that there are no Bitpanda fees for deposits or withdrawals, no matter which payment method you choose.

Multiple Services Available

While Bitpanda is primarily a cryptocurrency broker, the platform actually offers a very wide assortment of features and services that it can provide you, with different tags attached to each of them. Take a look yourself:

  • Bitpanda Swap - a limitless service that allows you to swap one cryptocurrency for another.
  • Bitpanda Saving - a service that allows you to create a crypto saving plan, and stick to it on a monthly basis.
  • Bitpanda Metals - as mentioned earlier, you can also invest in some of the more traditional markets on Bitpanda, namely - precious metals. This service allows you to do just that.
  • Bitpanda Crypto Index - allows you to automatically invest in the top-performing cryptocurrencies.
  • Bitpanda Ecosystem Token - a token that’s native to the platform, and frankly allows you to receive better trading fees and rates on the platform itself.
  • Bitpanda Pay - a payment system that allows you to make payments for certain services (whether it be personal payments to friends, or some of the more-official ones, such as monthly payments for a designated service).
  • Bitpanda Plus - if you’re a cryptocurrency “whale”, you’ll be able to purchase large amounts of crypto via Bitpanda Plus, and get better deals while doing so.
  • Bitpanda Tell-a-Friend - refer friends to the platform and receive rewards based on their investments.
  • Bitpanda App - a mobile app for the broker.

In the past, it also offered Bitpanda Pro, a professional version of the crypto broker based in Europe, and Bitpanda To Go, which allowed you to purchase cryptocurrency with cash money. However, these features are no longer available.

Nonetheless, as you can probably see for yourself, Bitpanda truly does offer a very wide variety of services to its customers and clients. There are quite a few user Bitpanda reviews that seem to appreciate this, too!

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Bitpanda Review: CONS

Now that we’ve covered most of the important aspects and touched on some reliable user Bitpanda reviews, let’s also take a look at the more-notable complaints that the platform receives, too.

Some Reports of Slow Customer Support

One of the more prominent complaints expressed in several user Bitpanda reviews online appears to relate to the platform's customer support.

Quite a few users note that the customer support responses appear to be relatively slow. This, in turn, leads to a lot of frustration, since, if you’re experiencing some sort of a technical or billing-related issue, you’d probably want to receive some help as soon as possible.

Bitpanda review: customer support.

Now, it’s worth pointing out that I myself did not experience any issues with Bitpanda’s customer support. My experience was quite pleasant, and the responses were actually pretty quick! Besides, the support works 24/7 and covers various languages.

So, it’s obvious that this is something that falls into the “case-by-case scenario” section. Meaning, each and every single person is going to have a different experience with the customer support of Bitpanda!

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How to Use Bitpanda?

Now, to finish off our Bitpanda review, let’s try out the platform, and see how long (or tedious) the registration process is, and also, how to purchase your first cryptocurrency on the site.

How to Register on Bitpanda?

For starters, the registration process.

Step 1: Go to the Bitpanda official website.

Step 2: Press Sign-up. You will be redirected to a signup page and asked to fill in your name and email, as well as create a password.

Bitpanda review: account creation window.

Step 3: Then, you’ll be asked to confirm your email address. You can do that by pressing the link in the email that you should have just received.

Bitpanda review: email confirmation.

Step 4: Upon first logging into your account via the link in your email, you’ll be asked to do two things - answer some legal questions, and verify your identity. The questions are very straightforward, and quite necessary for the company to verify your account and identity.

Bitpanda review: answering questions and verifying identity.

You can choose to do the verification a bit later, but in both cases, you will be redirected to your dashboard once you finish the above-described processes. The registration process on Bitpanda is truly very simple and fast.

How to Trade on Bitpanda?

Trading on Bitpanda is, admittedly, very self-explanatory.

All that you need to do once you’ve verified your identity is navigate to the Deposit button at the top-right corner of your screen, and deposit some money into your account (this can be crypto, fiat currencies, or else). The initial minimum deposit amount is €10, though. After this initial deposit, you can invest as little as €1 into crypto.

Bitpanda review: buying crypto with just €1.

Once your account is credited, you should then go to the Trade option, and upon selecting the cryptocurrency and amount that you want to trade, just do so!

The process is fast and simple, especially if you’ve already confirmed your identity with the platform prior to trading.

Binance Review
Pros
  • A very well-known crypto exchange platform
  • More than 500 different cryptos available
  • Two-factor authentication
Main Features
  • Over 500 different cryptocurrencies available
  • Strong security
  • Small withdrawal fees
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Pros
  • Very low trading fees
  • Exceptional functionality
  • Mobile trading app
Main Features
  • Very competitive trading fees
  • An intuitive mobile app
  • Up to 100x leverage available
Kraken Review
Pros
  • Secure and reliable
  • Low fees
  • A good amount of fiat currencies accepted
Main Features
  • Reputable exchange
  • Multiple fiat currencies are accepted
  • Relatively low trading fees

Conclusions

Most of the user Bitpanda reviews found online are quite positive towards the broker. Admittedly, I would tend to agree with them - Bitpanda truly does have a lot to offer!

The Bitpanda fees are relatively low, and it even offers completely free deposits and withdrawals. Besides, the platform is very simple to use, has a decent coin choice, and is very secure. Overall, Bitpanda is often considered to be one of the better options for European cryptocurrency traders.

If the platform didn’t impress you, though, you could also check out our list of the best crypto trading sites and brokerages, in general - perhaps you’ll find a great alternative there, such as Binance or Kraken?

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

About Article's Experts & Analysts

By Matt Zhang

Co-Founder at ZippyChain.ai

Matt Zhang is the co-founder/CTO of ZippyChain, which builds the Web3 foundation for AI. It is a novel Layer-1 public blockchain that is EVM compatible and utilizes state sharding and parallel EVM. It provides decentralized & collaborative AI ...

By Aaron S.

Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era. W...
Aaron S. , Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
Matt Zhang , Co-Founder at ZippyChain.ai
Matt Zhang is the co-founder/CTO of ZippyChain, which builds the Web3 foundation for AI. It is a novel Layer-1 public blockchain that is EVM compatible and utilizes state sharding and parallel EVM. It provides decentralized & collaborative AI on the blockchain through crowd-sourcing GPUs through Layer-2 edge computing. Matt got his Ph.D. in information security from a top engineering graduate school in the US and has 15+ years of industrial experience in Silicon Valley in areas including big data, information security, cloud, and Web3. He has worked with big companies like Google and built multiple startups in the past in Silicon Valley and China.

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Recent Bitpanda User Reviews

Jan Strohecker

5.0/5.0 - Bitpanda User
13/06/2024

4 years

Been a customer for like 4 years now. Never had any issues

Evaluation

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Ease of Use
Experience
Features
Safety

Southern gent

5.0/5.0 - Bitpanda User
02/06/2024

Incredible!

Friendly app, and BEST TOKEN I see a bright future

Evaluation

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Ease of Use
Experience
Features
Safety

jazzgirl

5.0/5.0 - Bitpanda User
15/04/2024

Best support

In my experience the fastest and friendliest customer support I've gotten, straight to the point, no stalling or running around in circles

Evaluation

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Ease of Use
Experience
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Safety

Fluttergirl

5.0/5.0 - Bitpanda User
21/06/2024

ON TOP!!!

Super fast answer. I always get very quick response. Top team!

Evaluation

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Ease of Use
Experience
Features
Safety

Clayton Shepherd

4.2/5.0 - Bitpanda User
24/05/2024

Quite satisfied

I find Bitpanda very easy to use and I would recommend it to anyone

Evaluation

Price value
Ease of Use
Experience
Features
Safety

Cloe Pham

4.2/5.0 - Bitpanda User
25/05/2024

high fee

Transaction fees are high

Evaluation

Price value
Ease of Use
Experience
Features
Safety

Chelsie Browne

4.0/5.0 - Bitpanda User
04/05/2024

Easy and Fast! But still not perfect!

It's very easy to register and make the first investments. But sometimes I have problems with login

Evaluation

Price value
Ease of Use
Experience
Features
Safety

Jaydn Greene

4.4/5.0 - Bitpanda User
08/05/2024

Haven't received answer

2 weeks passed by, no reply…

Evaluation

Price value
Ease of Use
Experience
Features
Safety

slimy.jaime

4.6/5.0 - Bitpanda User
05/04/2024

Good but not enough

Fees and exchange rates are rather high and not as good as on Binance.

Evaluation

Price value
Ease of Use
Experience
Features
Safety

rollcole

4.0/5.0 - Bitpanda User
02/04/2024

Proble

sometimes the whole site and app is not usable for a few minutes

Evaluation

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Ease of Use
Experience
Features
Safety

happy96

2.6/5.0 - Bitpanda User
23/04/2024

saw a ytube vid

for the log in and registrating i thought there were long wait times and too strict requirements to be fair

Evaluation

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Ease of Use
Experience
Features
Safety

Robert Hanson

3.0/5.0 - Bitpanda User
02/05/2024

The prices are rly low.

Nice.

Evaluation

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Ease of Use
Experience
Features
Safety

Brad Cunningham

3.0/5.0 - Bitpanda User
29/05/2024

very good

valuable information for crypto enthusiasts

Evaluation

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Ease of Use
Experience
Features
Safety

mia holt 23

3.4/5.0 - Bitpanda User
10/06/2024

i HAVE to say::::

having mobile app is a SUPER CONVENIENT way to trade and manage your cryptocurrency portfolio on-the-go

Evaluation

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Ease of Use
Experience
Features
Safety

angry_493

2.6/5.0 - Bitpanda User
30/05/2024

not da best

but ok

Evaluation

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Ease of Use
Experience
Features
Safety

deanna nguyen

2.8/5.0 - Bitpanda User
16/04/2024

bitpanda is alright!!!

article is great!!!! :D

Evaluation

Price value
Ease of Use
Experience
Features
Safety

liam harris

4.4/5.0 - Bitpanda User
03/05/2024

fiat is nice!

its seamless integration with traditional fiat payment methods really sells it for me!!!

Evaluation

Price value
Ease of Use
Experience
Features
Safety

Jack Rodriguez

3.4/5.0 - Bitpanda User
05/06/2024

Hello!

I'm 14, still trying to wrap my head around all of this, but it's all so fascinating! I'm analyzing all that I'm reading so I can be a better investor when I join the market!

Evaluation

Price value
Ease of Use
Experience
Features
Safety

Eleanor Bates

5.0/5.0 - Bitpanda User
27/05/2024

For my use

Sounds great tbh ^-^ !

Evaluation

Price value
Ease of Use
Experience
Features
Safety

rachel austin

2.6/5.0 - Bitpanda User
21/05/2024

not an expert...

but the trading tools on bitpanda... seem... hmmm... outdated...

Evaluation

Price value
Ease of Use
Experience
Features
Safety

FAQ

Is Bitpanda a good cryptocurrency broker?

Judging by the positive user Bitpanda reviews found online, it's safe to say that Bitpanda is one of the better cryptocurrency brokers around, especially for European crypto traders. The platform is popular with both beginners and expert traders, as it does offer features for both groups.

What are the main features of Bitpanda?

Bitpanda is simple to use since it employs a pretty straightforward interface and feature design. Its fees are pretty good, too, especially taking into mind its free deposits and withdrawals. Besides, Bitpanda does offer a decent number of cryptocurrencies to trade and exchange with (over 400), as well as a variety of other assets, like stocks or even precious metals. On top of that, Bitpanda is a secure and regulated crypto broker - that's a very important point to mention, too!

How to pick the best crypto exchange for yourself?

Picking out the best crypto exchange for yourself, you should always focus on maintaining a balance between the essential features that all top crypto exchanges should have, and those that are important to you, personally. For example, all of the best exchanges should possess top-tier security features, but if you're looking to trade only the main cryptocurrencies, you probably don't really care too much about the variety of coins available on the exchange. It's all a case-by-case scenario!

Which cryptocurrency exchange is best for beginners?

Reading through various best crypto exchange reviews online, you're bound to notice that one of the things that most of these exchanges have in common is that they are very simple to use. While some are more straightforward and beginner-friendly than others, you shouldn't encounter any difficulties with either of the top-rated exchanges. That said, many users believe that KuCoin is one of the simpler exchanges on the current market.

What is the difference between a crypto exchange and a brokerage?

In layman's terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person. The exchange platform (i.e. Binance) acts as a middleman - it connects you (your offer or request) with that other person (the seller or the buyer). With a brokerage, however, there is no “other person” - you come and exchange your crypto coins or fiat money with the platform in question, without the interference of any third party. When considering cryptocurrency exchange rankings, though, both of these types of businesses (exchanges and brokerages) are usually just thrown under the umbrella term - exchange. This is done for the sake of simplicity.

Are all the top cryptocurrency exchanges based in the United States?

No, definitely not! While some of the top cryptocurrency exchanges are, indeed, based in the United States (i.e. KuCoin or Kraken), there are other very well-known industry leaders that are located all over the world. For example, Binance is based in Tokyo, Japan, while Bittrex is located in Liechtenstein. While there are many reasons for why an exchange would prefer to be based in one location over another, most of them boil down to business intricacies, and usually have no effect on the user of the platform.

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