Comparison of Bitpanda vs Phemex [ 2025 ]

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

Your expert: Alejandro Borja

Bitpanda

Your expert: Xavier Tarrasó

Phemex

Main points

Fees

0,10%/1,49%

Earns

Customer service

4/5

0,10%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

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

4.1 – Low fees with a focus on derivatives trading.

Level

0,10%/1,49%

0,10%

Brief explanation

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.

Phemex implements a transparent and competitive commission structure, which is one of its standout features. The platform offers zero-fee spot trading for premium members, a unique model that encourages active trading and enhances affordability. For non-premium users, the fees remain competitive with the industry average. The fees for futures trading are also attractively low, with maker and taker fees structured to incentivize liquidity provision on the platform. This setup allows traders to manage their costs effectively, which is especially beneficial in a market where margins can be tight.

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.

Read bitpanda review

Phemex

Robust Security Measures: Phemex employs comprehensive security protocols, including cold wallet storage, two-factor authentication, and advanced encryption technology to protect user assets and data.
High Trading Volume and Liquidity: With significant daily trading volumes, Phemex offers high liquidity, facilitating quick and efficient execution of trades without significant price slippage.
Transparent Withdrawal and Deposit Policies: Phemex provides clear and concise policies regarding withdrawals and deposits, ensuring users understand the terms of service and any associated fees clearly.
Strong Reputation and Positive Reviews: Since its launch, Phemex has built a strong reputation in the cryptocurrency community, supported by positive user reviews that praise its reliability, customer service, and platform stability.
Effective Customer Service: Phemex offers responsive and helpful customer support, ensuring that users' queries and issues are addressed promptly, which is crucial for maintaining trust and user satisfaction.

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Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Full name

Bitpanda GmbH

Phemex Financial Pte. Ltd.

Regulation

Regulated in Austria

Not regulated

Year founded

2014

2019

Founder

Eric Demuth, Paul Klanschek, Christian Trummer

Jack Tao

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitpanda	FEATURES	Phemex
Bitpanda allows small minimum trades, making it accessible for beginners to start with little capital.	Minimum Trade	Phemex allows trading with relatively low minimums, making it accessible for beginners who wish to start small.
Fees are competitive, though crypto deposit fees could be improved.	Trading and Transaction Fees	Offers competitive fees with several fee-free options for premium members, though slightly higher for regular users.
Bitpanda supports a solid range of over 350 cryptocurrencies, suitable for most traders.	Number of Cryptocurrencies	Supports a wide range of cryptocurrencies, providing ample trading opportunities for users.
Offers a decent selection of trading pairs, but more could be added, especially on Bitpanda Pro.	Crypto-to-Crypto Trading Pairs	Extensive selection of trading pairs, allowing users to diversify their trading strategies.
High level of transparency regarding fees, security measures, and company information.	Website Transparency	The website provides essential information, although some users may find details on fees and terms could be clearer.
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.	Credit/Debit Card	Phemex does not provide an exchange card for in-store purchases. It focuses on trading features and derivatives.
Provides secure storage solutions, including cold storage, although it lacks a dedicated user-controlled wallet.	Storage Offering	Offers secure cold storage options, enhancing safety for user funds against potential cyber threats.
Offers staking options and rewards through the Bitpanda Ecosystem Token (BEST), adding value for users.	Staking and Rewards	Provides staking options with competitive rewards, though options are more limited compared to specialized staking platforms.
Both mobile and desktop platforms are highly user-friendly and well-designed, offering a seamless experience.	Mobile App and Desktop	Both the mobile app and desktop platform are highly user-friendly and robust, suitable for trading on the go.
Customer service is generally praised for its responsiveness and helpfulness, though availability could improve.	Customer Service	Generally responsive customer service with multiple channels available, but some reports of delayed responses during peak times.
Bitpanda supports multiple deposit and withdrawal methods, but could improve by removing deposit fees.	Deposit and Withdraw	Offers multiple deposit and withdrawal methods, but some users have experienced delays and higher fees for certain methods.

Key features

Analysis tools

Basic charting tools

Advanced charting tools, technical analysis

Mobile APP

Security

High 4,9/5

Additional features

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

Margin trading, futures trading, staking, Phemex Earn

Anonymity

Yes

Key points

Available cryptocurrencies

50+

Primarily derivatives, few direct cryptocurrencies

User-friendliness

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.

Phemex provides a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

Value for money

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

Offers good value for money with competitive fees and advanced trading features, suitable for both retail and institutional traders.

Countries of operation

Austria, Germany, Switzerland, France, Spain

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

Best for

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

Suitable for both retail and institutional traders interested in derivatives trading with competitive fees and advanced features.

Base currencies available

EUR, CHF, GBP, USD, TRY

USD, BTC, USDT

Account

Trading

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.

Phemex offers extensive trading options including spot, margin, and futures trading. It provides advanced tools suitable for experienced traders but might be overwhelming for beginners.

Deposit and withdrawal

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 .

Phemex supports multiple deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

Account opening process

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.

Phemex offers a seamless and fully digital account opening process. Users need to submit personal information and verify their identity. The process is quick and usually completed within a day.

KYC required?

Yes

Customer Service

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.

Phemex offers extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

Security

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

Phemex provides extensive security measures, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some users.

Which of these exchanges is for you?

Alejandro Borja

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.

Xavier Tarrasó

As one of the experts reviewing cryptocurrency exchanges on our website, I find Phemex to be a highly compelling choice for traders. The platform impresses with its robust security features and a wide array of trading options, catering to both newcomers and seasoned traders. Personally, I appreciate the platform’s user-friendly interface and the fact that it offers high liquidity, which is crucial for executing trades swiftly and efficiently. I would recommend Phemex to anyone looking to dive into the world of cryptocurrency trading, especially those who value security and a diverse range of trading instruments.

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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.