Comparison of Bitpanda vs Coinsbank [ 2024 ]

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

Your expert: Alejandro Borja

Bitpanda

Your expert: Xavier Tarrasó

Coinsbank

Main points

Fees

0,10%/1,49%

Earns

Customer service

4/5

0,20%/0,50%

Fees

Yes

Earns

2/5

Customer service

Recommended for

Beginners

Yes

Trading

Passive income

Buy and hold

Yes

Beginners

Trading

Yes

Passive income

Buy and hold

Comparison of fees

Rating

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

3.7 – Competitive fees with additional benefits for cardholders.

Level

0,10%/1,49%

0,20%/0,50%

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.

CoinsBank structures its commission model to accommodate both crypto-to-crypto and fiat-to-crypto transactions. The trading fees are notably higher than the industry average, typically around 0.50% for takers, which is double the more commonly seen rate of 0.25% among various exchanges. This elevated fee structure can impact high-volume traders significantly, making it a critical consideration for anyone looking to use CoinsBank for frequent trading activities.

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.

Coinsbank

Year Founded: Established in 2016, CoinsBank has been active for several years, providing a stable and evolving service platform in the cryptocurrency exchange market.
Customer Service: Offers a comprehensive array of customer support options including email, telephone, and live chat, ensuring that users have access to assistance whenever needed.
Security Methods: Implements robust security measures including two-factor authentication (2FA), cold storage of funds to protect user assets, and SSL encryption for data security.
Reputation and Reviews: Despite some challenges, CoinsBank has managed to maintain a mix of positive reviews particularly for its user-friendly interface and multi-functional platform, highlighting its commitment to customer satisfaction.
Regulation: CoinsBank is licensed under the International Financial Services Commission (IFSC) of Belize and is registered with FinCEN MSB in Belize, indicating compliance with certain regulatory standards.

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Account Minimum

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Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

Bitpanda GmbH

CB Exchange LP

Regulation

Regulated in Austria

Not regulated

Year founded

2014

2016

Founder

Eric Demuth, Paul Klanschek, Christian Trummer

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitpanda	FEATURES	Coinsbank
Bitpanda allows small minimum trades, making it accessible for beginners to start with little capital.	Minimum Trade	The platform offers a low minimum trade amount, making it accessible for beginners or those looking to start with small investments.
Fees are competitive, though crypto deposit fees could be improved.	Trading and Transaction Fees	CoinsBank charges higher than average fees, which could be a deterrent for high-volume traders.
Bitpanda supports a solid range of over 350 cryptocurrencies, suitable for most traders.	Number of Cryptocurrencies	Offers a moderate selection of cryptocurrencies including major ones like Bitcoin, Ethereum, Litecoin, and Ripple, but lacks a wider range as seen in larger exchanges.
Offers a decent selection of trading pairs, but more could be added, especially on Bitpanda Pro.	Crypto-to-Crypto Trading Pairs	A decent range of trading pairs is available, though not as extensive as some of the larger platforms.
High level of transparency regarding fees, security measures, and company information.	Website Transparency	The platform lacks some transparency regarding team details and operational insights, which could affect user trust.
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	Dont’ have crypto card
Provides secure storage solutions, including cold storage, although it lacks a dedicated user-controlled wallet.	Storage Offering	Excellent security measures with cold storage options that ensure the safety of digital assets.
Offers staking options and rewards through the Bitpanda Ecosystem Token (BEST), adding value for users.	Staking and Rewards	Offers some staking options, but the rewards and varieties are not as competitive as other top exchanges.
Both mobile and desktop platforms are highly user-friendly and well-designed, offering a seamless experience.	Mobile App and Desktop	Both mobile and desktop platforms are user-friendly and reliable, suitable for trading on the go.
Customer service is generally praised for its responsiveness and helpfulness, though availability could improve.	Customer Service	Provides various channels for support including live chat and email, although response times can vary.
Bitpanda supports multiple deposit and withdrawal methods, but could improve by removing deposit fees.	Deposit and Withdraw	Supports multiple deposit and withdrawal methods including bank transfers and cards; however, the high fees on certain transactions can be a disadvantage.

Key features

Analysis tools

Basic charting tools

Mobile APP

Security

High 4,9/5

Low 2/5

Additional features

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

Crypto debit card, OTC trading, staking, Coinsbank wallet

Anonymity

Key points

Available cryptocurrencies

50+

Few, primarily major 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.

Coinsbank provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

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.

Delivers reasonable value for money with competitive fees and a wide range of supported cryptocurrencies, though it may lack some advanced features.

Countries of operation

Austria, Germany, Switzerland, France, Spain

United Kingdom, Europe, United States, Canada, Australia

Best for

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

Ideal for traders seeking a secure platform with a wide range of supported cryptocurrencies and competitive fees.

Base currencies available

EUR, CHF, GBP, USD, TRY

USD, EUR, GBP, RUB, BTC

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.

CoinsBank provides a secure trading platform with a good selection of cryptocurrencies. It offers additional services like a wallet and card but has higher fees compared to some competitors.

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 .

CoinsBank provides multiple deposit options, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, with competitive 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.

CoinsBank provides a straightforward account registration process. Users need to submit personal information and verify their identity. The process is efficient and usually takes less than a day to complete.

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.

CoinsBank provides support via email and live chat. The support team is knowledgeable and responsive, but the lack of 24/7 support may be a drawback for some users.

Security

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

CoinsBank employs comprehensive security measures, including 2FA and cold storage. However, it lacks regulation from major financial authorities, which might be a concern for some investors.

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 an expert on our website, I’ve extensively evaluated CoinsBank and can confidently share my insights. For individuals new to cryptocurrencies or those seeking a multifunctional platform, CoinsBank stands out with its user-friendly interface and versatile offerings, including wallets, cards, and merchant services. However, it’s crucial to be aware of the higher transaction fees and the limited information about the team behind the scenes. These factors should be carefully considered when deciding if CoinsBank aligns with your trading and investment needs. Overall, if convenience and a variety of services are your priority, CoinsBank could be a suitable choice.

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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.