Comparison of Binance vs Bitpanda [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Binance vs Bitpanda comparison!

Your expert: Alejandro Borja

Binance

Your expert: Xavier Tarrasó

Bitpanda

Main points

Fees

≤0,10%

Earns

Yes

Customer service

4/5

0,10%/1,49%

Fees

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

5.0 – The industry standard for low trading fees and discounts.

3.8 – Reasonable fees with some additional costs for non-crypto trading.

Level

≤0,10%

0,10%/1,49%

Brief explanation

Binance, one of the world’s leading cryptocurrency exchanges, is renowned for its competitive and highly favorable commission structure. The standard trading fee on Binance is notably low, starting at just 0.1% for both makers and takers. This fee can be further reduced for users who pay using Binance’s native token, Binance Coin (BNB), which offers a discount, enhancing the utility and attractiveness of holding and using BNB within the ecosystem. Additionally, Binance rewards high-volume traders with a tiered fee structure, which lowers fees significantly as a user’s trading volume increases, dropping the fees to as low as 0.015% for makers and 0.03% for takers at the highest tiers.

Bitpanda’s fee structure is designed to be transparent and straightforward, which benefits users by making it easy to understand the costs associated with trading and transactions. The platform charges a variety of fees, including trading fees, withdrawal fees, and deposit fees, although deposits in some methods like bank transfers may be free. Trading fees vary depending on the asset and can be slightly higher compared to some competitors, typically around 1.49% for buying and selling cryptocurrencies. This is offset somewhat by the convenience and range of services Bitpanda offers, including the ability to trade precious metals alongside digital assets. Overall, while the fees are not the lowest in the market, the high level of service and security provided by Bitpanda may justify the costs for many users.

Binance

Security Methods: Binance employs a comprehensive range of security measures, including two-factor authentication (2FA), SSL encryption, and cold storage of the majority of user funds. These methods ensure a high level of security that protects users against potential cyber threats and unauthorized access.
Trading Volume and Liquidity: Binance boasts one of the highest trading volumes among cryptocurrency exchanges worldwide. This high volume ensures excellent liquidity, making it easier for users to execute trades quickly and at desired prices, even for large orders.
Reputation and Reviews: Over the years, Binance has built a solid reputation in the cryptocurrency community. It is highly regarded for its robust platform, innovative features, and responsive customer service. User reviews often highlight the platform's reliability and the breadth of resources available to traders.
Transparency: Binance is known for its transparency in operations, particularly in how it handles updates and communicates with its user base during both regular operations and in crisis situations. This transparency builds trust and ensures users are well-informed about their investments and the platform's practices.
Withdrawal and Deposit Policies: Binance offers clear and user-friendly withdrawal and deposit policies, with a variety of payment methods available. These policies are structured to facilitate easy access to funds while maintaining tight security to prevent any fraudulent activity.

Bitpanda

Year Founded: Established in 2014, Bitpanda has been operational for nearly a decade, providing it ample time to build a robust platform and gain extensive industry experience. Its longevity is a testament to its reliability and the trust it has cultivated among its users.
Number of Users: Bitpanda serves over a million users, demonstrating widespread acceptance and trust within the cryptocurrency community. A large user base not only reflects customer satisfaction but also adds to the platform's liquidity and overall market stability.
Security Methods: Bitpanda employs state-of-the-art security measures including SSL encryption, two-factor authentication (2FA), and cold storage of funds. These practices ensure that user assets are protected against unauthorized access and potential cyber threats.
Possible Regulation: Adhering strictly to European regulations, Bitpanda is compliant with the stringent legal standards required within the EU. This compliance ensures that the platform operates with transparency and accountability, further establishing its credibility.
Reputation and Reviews: Bitpanda boasts positive reviews and a strong reputation within the financial technology community. It has been recognized for its user-friendly interface, comprehensive educational resources, and responsive customer service, all of which contribute to its high customer satisfaction ratings.

Comparison sponsored by the best exchange

eToro

eToro Special Offer*

Earn up to 4.90% APY on uninvested cash with eToro USA.

Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Token BNB

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Binance Holdings Limited

Bitpanda GmbH

Regulation

Not regulated, but faces regulatory scrutiny in several countries.

Regulated in Austria

Year founded

2017

2014

Founder

Changpeng Zhao (CZ)

Eric Demuth, Paul Klanschek, Christian Trummer

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Binance	FEATURES	Bitpanda
Binance allows trading with small amounts, accommodating users who wish to start with minimal investments.	Minimum Trade	Bitpanda allows small minimum trades, making it accessible for beginners to start with little capital.
Binance offers some of the lowest fees in the industry, with further reductions available when using Binance Coin (BNB).	Trading and Transaction Fees	Fees are competitive, though crypto deposit fees could be improved.
Supports a broad selection of over 500 cryptocurrencies, catering to a wide range of trader interests.	Number of Cryptocurrencies	Bitpanda supports a solid range of over 350 cryptocurrencies, suitable for most traders.
Extensive offering of crypto-to-crypto trading pairs, providing users with great flexibility and trading options.	Crypto-to-Crypto Trading Pairs	Offers a decent selection of trading pairs, but more could be added, especially on Bitpanda Pro.
The website provides detailed information about fees and policies although some users might find it overwhelming due to the sheer amount of data.	Website Transparency	High level of transparency regarding fees, security measures, and company information.
Binance Card offers seamless crypto-to-fiat conversion with up to 8% cashback on purchases, making it a top choice for crypto users.	Credit/Debit Card	The Bitpanda Card offers seamless integration with the platform, providing flexibility and convenience for everyday spending and access to various benefits like cashback and easy conversion between different asset types.
Offers secure storage options with an integrated wallet that supports both cold and hot storage methods.	Storage Offering	Provides secure storage solutions, including cold storage, although it lacks a dedicated user-controlled wallet.
Provides competitive staking options and rewards, enhancing user engagement and investment returns.	Staking and Rewards	Offers staking options and rewards through the Bitpanda Ecosystem Token (BEST), adding value for users.
Both the mobile app and desktop platforms are highly intuitive and fully-featured, suitable for traders of all experience levels.	Mobile App and Desktop	Both mobile and desktop platforms are highly user-friendly and well-designed, offering a seamless experience.
Offers multiple channels for support; however, response times can vary, sometimes leading to delays.	Customer Service	Customer service is generally praised for its responsiveness and helpfulness, though availability could improve.
Binance facilitates easy and fast deposits and withdrawals, though some users have reported delays with fiat withdrawals.	Deposit and Withdraw	Bitpanda supports multiple deposit and withdrawal methods, but could improve by removing deposit fees.

Key features

Analysis tools

Advanced charting tools, a wide range of technical indicators

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

Additional features

Futures trading, margin trading, staking, Binance Launchpad, Binance Earn, BNB token rewards

Stocks and ETFs trading, metals trading, savings plans, Bitpanda Pro exchange

Anonymity

Key points

Available cryptocurrencies

500+

50+

User-friendliness

Binance is a highly popular platform known for its comprehensive features and user-friendly interface. While it offers advanced tools for experienced traders, its basic version remains accessible and easy to use for beginners.

Bitpanda is known for its clean and intuitive interface, making it an excellent choice for beginners. The platform is easy to navigate, and the process of buying and selling cryptocurrencies is straightforward.

Value for money

Offers excellent value for money with some of the lowest trading fees in the industry and a vast array of supported cryptocurrencies and features.

Offers good value for money with competitive fees and a wide range of financial products, making it suitable for both beginners and experienced traders.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany

Austria, Germany, Switzerland, France, Spain

Best for

Perfect for all types of investors, from beginners to advanced traders, due to its low fees, vast array of cryptocurrencies, and extensive features.

Great for European investors looking for a user-friendly platform with a wide range of financial products and competitive fees.

Base currencies available

USD, BTC, ETH, BNB, USDT

EUR, CHF, GBP, USD, TRY

Account

Trading

Binance is one of the largest and most popular exchanges, offering a vast selection of cryptocurrencies, advanced trading features, and high liquidity. Its security measures are top-notch. However, the platform can be overwhelming for beginners.

Bitpanda is user-friendly and supports a wide range of cryptocurrencies. It is particularly good for European users, offering easy fiat integration and competitive fees. However, it lacks some advanced trading tools.

Deposit and withdrawal

Binance supports a wide range of deposit methods, including bank transfers, credit/debit cards, and a variety of cryptocurrencies. Withdrawals are processed quickly, usually within a few hours, with minimal fees .

Bitpanda offers a variety of deposit options, including bank transfers, credit/debit cards, and e-wallets. Withdrawals are processed within a day, with competitive fees .

Account opening process

Binance offers a seamless account opening process. Users need to provide personal information, complete KYC verification with identity documents, and typically get their account approved within a few hours to a day. It’s secure and efficient.

Bitpanda offers a seamless and user-friendly account opening process. Users need to provide personal information, verify their identity, and typically, the account is approved within a day.

KYC required?

Yes

Customer Service

Binance provides extensive customer support through email, live chat, and a detailed help center. Support is available 24/7, and the response times are quick, making it reliable for users globally.

Bitpanda provides extensive support through email, live chat, and a help center. The response time is quick, and support is available 24/7, making it reliable for users globally.

Security

Binance employs comprehensive security measures, including 2FA, SSL encryption, and cold storage. It is regulated by several financial authorities and has a strong track record, making it a secure choice for investors .

Bitpanda offers comprehensive security measures, including 2FA, encryption, and cold storage. It is regulated by Austrian authorities, ensuring high security for investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert in the crypto market, I highly recommend Binance for its comprehensive range of features and user-friendly interface. The Binance Card, in particular, stands out by allowing seamless crypto-to-fiat conversions and offering up to 8% cashback on purchases, making it an excellent choice for both new and experienced crypto enthusiasts. Its security measures and vast selection of cryptocurrencies further enhance its appeal.

Xavier Tarrasó

As an expert at Threenvest, I highly recommend Bitpanda for investors seeking a versatile and user-friendly platform, especially those based in Europe. Bitpanda’s broad range of assets from cryptocurrencies to precious metals, combined with its intuitive interface, makes it an excellent choice for both newcomers and seasoned traders. However, do consider the platform’s regional availability and fee structure to ensure it aligns with your investment strategies and geographic location.

Read Binance review

View all comparisons against Binance

Read bitpanda review

View all comparisons against Bitpanda

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.