Bitpanda Review 2024

Autor

Revisor

Last update: 6 months ago

Our veredict

Bitpanda stands out as a solid choice for European investors interested in a multifaceted platform capable of handling cryptocurrencies, stocks, ETFs, and even commodities. One of Bitpanda’s greatest strengths is its user-friendly design, which makes it accessible to beginners and seasoned traders alike. The platform simplifies the process from signup through trading, ensuring that even those new to investing can navigate with ease. Additionally, Bitpanda offers unique features such as crypto index funds, which allow for diversified investments across various cryptocurrencies without needing to buy each one individually. This could be particularly appealing for users looking to minimize the risk while broadening their crypto portfolio.

However, Bitpanda is not without its limitations. The most significant of these is its geographical restriction; it’s available only to users within Europe, excluding potential customers from the U.S. and other regions. Also, while it offers a low fee structure on its main platform, Bitpanda Pro (targeted at more advanced users) has a limited range of cryptocurrencies and trading pairs, which could be a downside for those seeking more depth in their trading options. Moreover, the platform charges fees for crypto deposits, a practice not commonly found in other exchanges, which might deter some users. In conclusion, Bitpanda serves as a robust and user-friendly option for European investors, though it may not fully satisfy the needs of advanced traders or global users.

Pros

Cons

4,8

Threenvest Score

Fees

0,10%/1,49%

U.S Legal

With the confidence of Threenvest

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.

Best Crypto Exchanges

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At Threenvest, we are unwaveringly committed to providing you with unbiased ratings and information. Our editorial team operates independently, free from any advertising influence. We use meticulous, data-driven methodologies to evaluate financial products and companies, ensuring that all assessments are conducted on a level playing field.

To better understand our editorial guidelines and the investment methodology that supports our ratings, you can explore the information in our editorial policy.

About Bitpanda Exchange

Introduction

Bitpanda is a leading European cryptocurrency exchange known for its user-friendliness and a wide selection of available cryptocurrencies. Positioned as a comprehensive platform, Bitpanda not only offers crypto trading but also includes services for trading precious metals.

What is Bitpanda?

Bitpanda is a digital assets platform based in Vienna, Austria, where users can buy, sell, and hold cryptocurrencies, as well as precious metals. Established in 2014, it has grown rapidly to serve over a million users with its easy-to-use interface and mobile app, providing access to a broad spectrum of digital assets.

Background and History

Bitpanda was founded in 2014 by Eric Demuth, Paul Klanschek, and Christian Trummer, who started the platform with a vision to make investing accessible for everyone. The platform initially focused on Bitcoin trading but has expanded its offerings to include a variety of cryptocurrencies and other digital assets like gold and silver.

Founders

The founders of Bitpanda, Eric Demuth, Paul Klanschek, and Christian Trummer, are known for their expertise in fintech and their commitment to providing secure and accessible financial services. Their background in software engineering and business development helped shape Bitpanda into a trusted name in the crypto market.

Fun Facts and Interesting Tidbits

Bitpanda was one of the first platforms to offer “crypto indices,” which allow users to invest in multiple cryptocurrencies with a single purchase.
The platform is known for its user-friendly design, which has made it especially popular among first-time crypto investors in Europe.
Bitpanda has its own ecosystem token, BEST, which offers users benefits such as reduced fees and rewards within the platform.

Headlines

“Bitpanda Secures over $100 million in Series B funding led by Valar Ventures.”
“Bitpanda Launches Visa Debit Card That Lets You Spend Cryptocurrency.”

These elements highlight Bitpanda’s role as an innovator in the cryptocurrency exchange space, particularly within the European market, making it a significant player that bridges traditional and digital finance.

Why Choose Bitpanda?

Choosing Bitpanda as your cryptocurrency exchange offers several compelling advantages.

Firstly, its user-friendly interface makes it exceptionally accessible for beginners, ensuring that new users can navigate the platform with ease and comfort. This is particularly valuable for those who may feel overwhelmed by more complex trading environments.

Secondly, Bitpanda’s commitment to security is exemplary. The platform employs top-tier security measures such as two-factor authentication, cold storage of funds, and compliance with EU financial regulations, providing users with peace of mind regarding the safety of their investments.

Lastly, the diversity of assets available on Bitpanda stands out. Not only does it offer a wide range of cryptocurrencies, but it also allows trading in precious metals, providing a unique opportunity for portfolio diversification. This variety, combined with competitive fees and strong customer support, makes Bitpanda a compelling choice for anyone looking to engage with digital asset trading.

Where it falls short

Fee Structure: Although Bitpanda offers a transparent fee system, its trading fees are perceived to be on the higher side compared to some other major exchanges. This can be a deterrent for high-volume traders who are sensitive to cost efficiencies in their trading activities. To enhance its appeal, Bitpanda could consider revising its fee strategy to offer more competitive rates or tiered pricing that rewards higher trading volumes with lower fees.

Global Availability: Currently, Bitpanda primarily serves the European market and has limited presence outside this region. Expanding its services to include other major markets such as North America or Asia could significantly boost its user base and trading volume. This expansion would involve navigating additional regulatory environments, but it could ultimately drive greater adoption and diversification of its customer base.

Features	Explanation
Minimum Trade	Bitpanda allows small minimum trades, making it accessible for beginners to start with little capital.
Trading and Transaction Fees	Fees are competitive, though crypto deposit fees could be improved.
Number of Cryptocurrencies	Bitpanda supports a solid range of over 350 cryptocurrencies, suitable for most traders.
Crypto-to-Crypto Trading Pairs	Offers a decent selection of trading pairs, but more could be added, especially on Bitpanda Pro.
Website Transparency	High level of transparency regarding fees, security measures, and company information.
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.
Storage Offering	Provides secure storage solutions, including cold storage, although it lacks a dedicated user-controlled wallet.
Staking and Rewards	Offers staking options and rewards through the Bitpanda Ecosystem Token (BEST), adding value for users.
Mobile App and Desktop	Both mobile and desktop platforms are highly user-friendly and well-designed, offering a seamless experience.
Customer Service	Customer service is generally praised for its responsiveness and helpfulness, though availability could improve.
Deposit and Withdraw	Bitpanda supports multiple deposit and withdrawal methods, but could improve by removing deposit fees.

Xavier Tarrasó

EIP and Cryptocurrency Investor

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.

Fees

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.

Pros

Transparent Fee Structure: Bitpanda clearly outlines its fees, helping users to understand costs upfront without hidden charges.
Lower Fees for Higher Volumes: The platform offers a tiered fee structure, rewarding users with lower fees as their trading volume increases.
No Deposit Fees on Certain Methods: For many payment methods, including bank transfers, Bitpanda does not charge any deposit fees, making it economical for users to fund their accounts.

Cons

Relatively High Base Fees: Compared to some other major exchanges, Bitpanda's base trading fees are on the higher side, which might deter frequent traders.
Limited Fee Reduction Options: While there are volume-based discounts, there are fewer opportunities for additional fee reductions compared to some competitors that offer discounts through the use of native tokens or other loyalty programs.

Conclution

In essence, Bitpanda’s fees reflect its positioning as a gateway platform for new entrants to the cryptocurrency market, offering ease and security at the expense of higher fees. For seasoned traders, the costs may be a limiting factor unless they trade in high volumes that qualify for discounts. Users must weigh these costs against the benefits of a highly secure and user-friendly platform. Additionally, Bitpanda’s efforts to expand its services to include educational resources and investment tools for cryptocurrencies and metals provide added value that may justify higher fees for some users. This comprehensive understanding of Bitpanda’s fee structure provides a clear picture for anyone considering the platform, highlighting both its strengths in service and user experience, and the potential drawbacks in terms of trading costs, particularly for those who trade in lower volumes.

Product selection

Bitpanda offers a diverse range of services and products designed to cater to the needs of both novice and experienced investors. The platform allows users to trade over 50 different cryptocurrencies, including major ones like Bitcoin, Ethereum, and Litecoin, as well as precious metals such as gold and silver. This unique combination enables users to diversify their portfolios easily within a single platform. Additionally, Bitpanda provides innovative investment tools such as the Bitpanda Crypto Index, which allows users to invest in a basket of cryptocurrencies that are automatically rebalanced, providing a simplified approach to diversification.

Beyond trading, Bitpanda offers various features to enhance the user experience, such as the Bitpanda Card, which enables users to spend their digital assets and metals anywhere Visa is accepted. The platform also supports savings plans, staking, and rewards, allowing users to earn passive income from their holdings. With a highly intuitive mobile app and comprehensive educational resources, Bitpanda ensures that users can manage their investments conveniently and stay informed about the latest market trends. These extensive offerings make Bitpanda a versatile and attractive option for a wide range of investors.

Pros

Comprehensive Asset Selection: Bitpanda provides a broad array of trading options, not only in cryptocurrencies but also in precious metals like gold and silver. This allows users to diversify their investment portfolios directly through a single platform.
Bitpanda Card: The integration of a Visa debit card that can use both cryptocurrency and fiat balances offers tremendous flexibility for users, making it possible to spend digital assets in everyday transactions just as easily as cash.
Innovative Investment Tools: The platform offers unique products such as the Bitpanda Crypto Index, which simplifies investing in cryptocurrencies by allowing users to invest in a diversified portfolio that is automatically rebalanced. This tool is particularly beneficial for newcomers unsure of which assets to pick.

Cons

Higher Fee Structure: While Bitpanda offers a range of services, the associated fees are relatively high compared to other platforms. This can be a significant deterrent for high-volume traders or those sensitive to transaction costs.
Geographical Limitations: Despite its wide range of services, Bitpanda primarily serves the European market and might not be available or optimized for users outside this region. This limits the global reach of their innovative products and services.

Read more about product selection in Bitpanda

Bitpanda offers an extensive array of services and products that cater to various needs in the cryptocurrency and investment spaces. Here’s a detailed overview:

Leveraged Tokens and Financial Products Bitpanda does not currently offer leveraged tokens directly but provides other investment products like the Bitpanda Crypto Index, which allows users to invest in diversified portfolios of cryptocurrencies, automatically rebalanced to reflect market changes.
Debit Card The Bitpanda Card, a Visa debit card, enables users to spend cryptocurrencies and metals anywhere Visa is accepted. This integration between digital assets and traditional spending avenues makes Bitpanda particularly appealing for users looking for practical uses of their investments.
Mobile App Bitpanda’s mobile app is highly intuitive, offering all the features of the desktop platform for trading on the go. This includes real-time price tracking, buying, selling, and converting various digital assets, providing a seamless mobile trading experience.
Own Cryptocurrencies and Network While Bitpanda does not have its own blockchain network, it does offer the Bitpanda Ecosystem Token (BEST), which provides benefits such as reduced trading fees, regular token burns to increase value, and rewards for holding the token.
Staking and Rewards Bitpanda supports staking for several cryptocurrencies, allowing users to earn rewards directly in their Bitpanda wallets. This is facilitated through an easy-to-use interface, making it accessible even for those new to staking.
Loans Bitpanda also offers a crypto lending service, where users can lend their cryptocurrencies in exchange for returns, adding a passive income element to their investment strategies.
Liquid Swap and Promotions The platform periodically offers various promotions and bonuses for trading specific assets or reaching certain milestones, enhancing the trading experience and providing additional value to users.
Referral Codes and Tournaments Bitpanda includes a referral program where users can earn bonuses for referring new users. It occasionally hosts trading tournaments with prizes, adding a competitive element to the trading experience.
Leverage, Demo Account, Futures, Derivatives, Wallet Bitpanda’s platform includes features like futures and options for more advanced traders. Although there is no demo account, the user-friendly interface helps new users navigate trading easily.
Research and Education Bitpanda invests heavily in educational resources, including a blog and learning hub that cover topics from basic trading strategies to advanced investment concepts. This is aligned with their goal to democratize personal finance.
API and Trading View For technical traders, Bitpanda offers API access for automated trading strategies and a trading view with extensive charting capabilities, suitable for detailed technical analysis.
Yielding Pools and Bonus Deals Bitpanda does not currently offer yielding pools but provides savings plans and other bonus deals for using services like the Bitpanda Card or participating in specific promotions.

This comprehensive suite of services and products makes Bitpanda a robust platform suitable for a wide range of financial activities, from simple buying and selling to complex investment strategies involving derivatives and futures.

Account opening

Opening an account on Bitpanda is designed to be a straightforward and quick process, catering especially to those new to cryptocurrency trading. The process is user-friendly and can be completed in a few simple steps. Initially, new users are required to sign up by providing their email address and setting up a password. Following this, Bitpanda requires a verification process, which includes submitting identification documents and a selfie to comply with KYC (Know Your Customer) regulations. This verification is necessary to ensure the security and legality of transactions on the platform.

Once the verification process is completed, users can start trading immediately. They can deposit funds using various methods such as bank transfers, credit cards, or even through online payment services. Bitpanda supports multiple fiat currencies, which adds to the convenience, allowing users to fund their accounts in their local currency. Overall, the account opening process on Bitpanda is designed to be as seamless and hassle-free as possible, ensuring that even those with no prior experience in digital asset trading can navigate it easily.

Pros

Simplicity and Speed: Bitpanda's account registration is streamlined and efficient, allowing new users to set up and start using their account quickly. This is especially beneficial for beginners who may be overwhelmed by more complex setups.
Immediate Access to Trading: Once verification is complete, users can immediately start trading, depositing, and withdrawing funds, which minimizes downtime and allows for quick engagement with the platform.
Multiple Verification Options: Bitpanda provides several verification methods to accommodate different user preferences and requirements, enhancing accessibility and convenience.

Cons

Read more about account opening in Bitpanda

When you’re ready to start using Bitpanda, the process involves several key steps to ensure a smooth setup and a secure trading environment. Here’s a detailed breakdown of how to navigate each stage:

How to Sign Up on Bitpanda

Visit the Bitpanda Website: Go to Bitpanda’s official site and click on the ‘Sign Up’ button usually located at the top right corner of the homepage.
Enter Your Details: Provide your email address, choose a strong password, and agree to the terms and conditions.
Email Verification: Check your email for a verification link from Bitpanda and click on it to verify your email address.

Opening an Account

Complete Your Profile: Fill in your personal details such as your name, date of birth, and address.
Identity Verification: To comply with regulatory requirements, upload a government-issued ID and possibly a recent utility bill to verify your identity and address.
Enhanced Security Setup: Enable two-factor authentication (2FA) for an added layer of security on your account.

How to Buy Your First Cryptocurrency

Deposit Funds: Choose from various deposit methods available on Bitpanda, such as bank transfer, credit card, or e-wallets. Deposit some funds to your Bitpanda wallet.
Purchase Cryptocurrency: Navigate to the ‘Trade’ section, select the cryptocurrency you wish to purchase, enter the amount, and confirm the transaction.

Account Types

Standard Account: This is the default account type when you sign up, suitable for most retail investors.
Professional Account: For more experienced traders looking for advanced features and higher transaction limits, you might consider upgrading to a professional account after meeting specific criteria.

How to Use Bitpanda?

Navigating the Interface: Bitpanda’s user interface is intuitive. The dashboard provides a quick view of the market, your portfolios, and easy access to buying or selling.
Trading: Use the trade option to buy or sell cryptocurrencies. You can set market orders or limit orders depending on your trading strategy.

Registration and KYC

Completing KYC: This is part of the initial account setup to ensure all transactions on the platform are compliant with financial regulations.
Security Measures: Regularly review and update your security settings on Bitpanda, such as password changes and 2FA.

This comprehensive guide should help you comfortably set up your Bitpanda account and start trading with confidence. Remember, each step is designed to provide security and ease of use, ensuring a positive experience in the cryptocurrency market.

Security

Bitpanda is a legitimate and highly secure cryptocurrency exchange, fully regulated by the Austrian Financial Market Authority and compliant with European Union financial regulations. The platform employs advanced security measures including SSL encryption, two-factor authentication (2FA), and cold storage for the majority of user funds. These robust security protocols ensure that user assets and personal information are well-protected against potential threats.

In addition to its regulatory compliance and technological safeguards, Bitpanda regularly undergoes external security audits to identify and mitigate vulnerabilities. The platform has a strong track record with no significant security breaches reported since its inception in 2014. Bitpanda’s commitment to maintaining high-security standards, combined with its regulatory adherence, makes it a trusted and reliable choice for cryptocurrency trading and investment.

Pros

Regulatory Compliance: Bitpanda is fully regulated by the Austrian Financial Market Authority and adheres to strict European financial regulations, providing a secure and trustworthy platform for users.
Regular Security Audits: Bitpanda undergoes regular security audits conducted by external cybersecurity experts. This proactive approach helps identify and mitigate potential security vulnerabilities, ensuring the platform remains safe against evolving cyber threats.
Advanced Security Protocols: The platform employs state-of-the-art security features including SSL encryption, two-factor authentication (2FA), and cold storage for the majority of user funds. These measures significantly reduce the risk of unauthorized access and theft.

Cons

Complexity for New Users: While necessary for security, the multiple layers of security features, including compulsory 2FA and the detailed verification process, might be overwhelming for new users unfamiliar with such systems.
No Insurance on User Funds: Unlike some other major exchanges, Bitpanda does not publicly advertise any insurance policy on user deposits. This could be a concern for users in the unlikely event of a successful hack or other security breach that impacts their holdings.

Is Bitpanda Legit?

Yes, Bitpanda is a legitimate and reputable cryptocurrency exchange founded in 2014. It is based in Vienna, Austria, and operates under strict European Union financial regulations. Bitpanda is regulated by the Austrian Financial Market Authority (FMA) and complies with all applicable EU financial laws, ensuring a secure and reliable trading environment.

Regulation and Licensing

Bitpanda holds several licenses that allow it to operate legally across Europe. This regulatory framework provides a level of security and accountability that unregulated platforms cannot offer. Compliance with these regulations ensures that Bitpanda adheres to high standards of financial security, operational integrity, and consumer protection.

Is Bitpanda Safe?

Security Methods

Cold Storage: The vast majority of Bitpanda’s assets are held in cold storage, significantly reducing the risk of theft by hackers.
Two-Factor Authentication (2FA): Mandatory for all users, providing an additional layer of security that protects user accounts from unauthorized access.
Encryption: Advanced encryption technology protects sensitive data transmission and stored information on Bitpanda’s servers.
Multi-Signature Wallets: Used for transaction authorization, requiring multiple approvals from authorized team members to execute large transactions.

Platform’s History of Security

Bitpanda’s commitment to security is reflected in its clean operational history, with no major security breaches since its inception. This track record is supported by regular security audits conducted by external cybersecurity firms.

Detailed Security Features

User Account Security: Users are encouraged to implement security measures such as strong passwords, not reusing passwords across different sites, and keeping their software up to date.
Email and Communication Security: Bitpanda verifies all communication through official channels and advises users to be wary of phishing attempts.
API Security: For users who use Bitpanda’s API, extensive security settings allow them to restrict API access based on IP address and require confirmation for withdrawals.

Additional Measures for User Protection

Education on Security Practices: Bitpanda educates its users on best security practices both within the platform and through online resources.
Regular Updates and Patches: Continuous monitoring and updating of its platform to safeguard against new vulnerabilities.
Support and Reporting: Bitpanda provides a dedicated support team to assist with security concerns and to address any potential security issues promptly.

Conclusion on Security

Overall, Bitpanda’s comprehensive approach to security, from strict regulatory compliance to advanced technological safeguards, establishes it as a highly secure platform in the cryptocurrency space. This enables users to conduct transactions with confidence, knowing that measures are in place to protect their investments and personal information comprehensively.

Customer service

Bitpanda’s customer service is tailored to provide responsive and comprehensive support to its users. The exchange offers 24/7 customer support, accessible through multiple channels including live chat and email, ensuring users can get assistance whenever they need it. The multilingual support team caters to Bitpanda’s diverse European user base, enhancing the overall user experience. Additionally, Bitpanda’s extensive FAQ and Help Center provide detailed guides and articles that help users troubleshoot common issues and navigate the platform effectively.

Customer feedback on Bitpanda’s support is generally positive, highlighting the quick response times and the professionalism of the support team. However, during periods of high demand or market volatility, some users have reported delays in response times. Despite this, the platform’s commitment to user satisfaction is evident through its proactive approach to incorporating user feedback into service improvements and maintaining a strong community presence. Overall, Bitpanda’s customer service infrastructure is robust, providing reliable support to ensure a smooth and secure trading experience.

Pros

Multilingual Support: Bitpanda offers customer support in several languages, making it accessible for a diverse user base across Europe and beyond. This inclusivity enhances user satisfaction by allowing them to receive help in their preferred language.
Responsive Support Channels: Bitpanda's support team is available through multiple channels, including live chat and email. Users appreciate the quick response times, especially via live chat, which helps resolve urgent issues efficiently.
Comprehensive Resources: The platform provides an extensive range of educational resources and a detailed FAQ section. This empowers users to find quick solutions to common issues and learn more about using the platform effectively.

Cons

Potential for Delays During High Traffic: Although generally quick, response times can vary, especially during periods of high demand or market volatility. Some users have reported delays, which could be critical during urgent trading issues.
Limited Phone Support: Bitpanda does not offer a direct phone support line, which might be a drawback for users who prefer speaking to a support agent directly for complex or urgent issues.

Read more about customer service in Bitpanda

In addressing the customer service offered by Bitpanda, let’s delve deeper into the various aspects that outline the quality and efficiency of support that users can expect on the platform:

Customer Support

Overview

Bitpanda prides itself on providing robust customer support aimed at ensuring a seamless user experience. The support team is equipped to handle a range of inquiries, from transaction issues to account security, emphasizing quick resolutions and user satisfaction.

Support Features:

Multilingual Support: Catering to a diverse European user base, Bitpanda’s support is available in multiple languages including English, German, Spanish, and French.
24/7 Availability: Understanding the non-stop nature of cryptocurrency trading, Bitpanda offers round-the-clock support to address user needs at any time.

Reputation and Customer Feedback

General Sentiment: Bitpanda generally receives positive feedback from its users, particularly for its user-friendly interface and the reliability of its trading platform.

Areas of Praise:

Efficient Problem Solving: Users often commend the support team for their effectiveness in resolving issues quickly.
Resource Availability: The comprehensive FAQs and detailed guides available on the platform are frequently highlighted as particularly helpful.

Areas for Improvement:

Some users have noted delays in response times during periods of high demand, suggesting a need for scaling support capabilities in line with user growth.

Methods of Contact

Channels:

Live Chat: Available directly through the website and app, providing instant assistance for urgent issues.
Email Support: For more detailed inquiries or issues that require thorough investigation, users can contact support via email.
Social Media: Bitpanda is active on platforms like Twitter and Facebook, where they also handle customer inquiries and provide updates.

Response Time

Expectations:

Live Chat: Typically, responses are almost instant, providing quick help for users facing immediate issues.
Email: Responses can vary from a few hours to a couple of days, depending on the complexity of the issue and current demand on support staff.

Additional Considerations for Readers

What to Include in Your Inquiry:

To ensure a swift resolution, include all relevant details in your initial query such as transaction IDs, error messages, and a clear description of the issue.

Proactive Measures:

Utilize Bitpanda’s extensive help center to possibly resolve issues without needing direct contact. This includes troubleshooting guides, how-to articles, and security advice.

Emergency Contact:

While Bitpanda does not offer phone support, in cases of account security concerns (such as unauthorized access), it is crucial to use live chat for immediate action and follow up via email for documentation.

Conclusion

Bitpanda’s customer service is structured to provide comprehensive support across various channels, ensuring users have access to help whenever needed. The positive reputation among users highlights the platform’s commitment to effective support, though there is room for improvement in handling peak times more efficiently. For potential and current users, understanding these support dynamics can enhance their trading experience, knowing they have reliable resources at their disposal.

Is bitpanda Right for You?

1. Investment Preferences and Trading Style

Diverse Asset Options: If you’re seeking a platform that offers a wide range of trading options, including cryptocurrencies and precious metals like gold and silver, Bitpanda might be a good fit. This diversity allows for more comprehensive portfolio management within a single platform.
User Experience Level: Bitpanda is particularly suited to both beginners and experienced traders due to its user-friendly interface. Newcomers will find it easy to navigate, while seasoned traders can utilize advanced features like the Bitpanda Crypto Index for diversified crypto investments.

2. Geographic and Currency Considerations

European Focus: Bitpanda is primarily geared towards European users and complies with strict EU regulations, which might make it more appealing if you are based in Europe or prefer an exchange that adheres to these standards.
Currency Accessibility: If you need an exchange that supports multiple fiat currencies and offers various funding methods including credit cards, bank transfers, and online wallets, Bitpanda provides these features. This is particularly advantageous if you want to transact in euros or other supported local currencies without incurring high conversion fees.

3. Security and Regulatory Compliance

Security-Conscious Investors: For users who prioritize security, Bitpanda’s comprehensive security measures and regulatory compliance offer peace of mind. The platform uses state-of-the-art security technologies and follows stringent regulations to safeguard user assets.
Desire for a Regulated Environment: If you prefer trading on a platform that is regulated by financial authorities (such as the Austrian Financial Market Authority), ensuring transparency and operational integrity, Bitpanda meets these criteria. This can be crucial for users who value the accountability and security a regulated entity offers.

These points should help clarify whether Bitpanda aligns with your trading needs and personal preferences. By considering your investment style, geographic location, and the importance of security and regulation in your trading decisions, you can make a well-informed choice about using Bitpanda as your trading platform.

Bitpanda compared to other crypto exchanges

Threenvest score

4,8

Fees

US Legal

Security

High 4,9/5

On the exhange website

Threenvest score

4,9

Fees

US Legal

Yes

Security

High 4,9/5

bingx

Threenvest score

4,7

Fees

US Legal

Yes

Security

High 4,9/5

Available cryptocurrencies and countries available

Bitpanda offers a robust selection of cryptocurrencies, with over 50 different digital assets available for trading. This selection caters to a diverse range of investment interests and includes major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP), among others.

Principal Countries Available

Bitpanda primarily serves users across the European Economic Area (EEA), providing full services to countries including Austria, Germany, Switzerland, and Spain. The platform is especially popular in its home country, Austria, due to its compliance with local regulations and its user-friendly features designed to cater to European investors.

Notable Cryptocurrencies Not Available

Despite its extensive catalog of digital assets, Bitpanda does not currently offer some trending cryptocurrencies such as Cardano (ADA) and Polkadot (DOT), which might be a limitation for users interested in a broader spectrum of newer or more speculative altcoins.

Important Countries Not Supported

Bitpanda does not support several large markets outside of Europe, notably the United States, Canada, and Australia. Residents of these countries are not able to open accounts with Bitpanda due to regulatory and compliance reasons. This restriction can be significant for users in these regions looking for a versatile platform that accommodates a range of cryptocurrencies. This overview provides a snapshot of Bitpanda’s offerings in terms of cryptocurrency diversity and geographical availability, helping potential users determine if the platform suits their trading needs and geographic location.

Main cryptocurrencies available

Bitcoin (BTC)
Ethereum (ETH)
Litecoin (LTC)
Ripple (XRP)
Bitcoin Cash (BCH)
Dash (DASH)
Chainlink (LINK)
EOS (EOS)
Tezos (XTZ)
Ethereum Classic (ETC)
Stellar Lumens (XLM)
Cardano (ADA)
NEO (NEO)
IOTA (MIOTA)
Zcash (ZEC)
VeChain (VET)
TRON (TRX)
Cosmos (ATOM)
Algorand (ALGO)
Uniswap (UNI)

Main countries where you can open an account

Austria
Germany
Switzerland
France
Spain
Italy
Netherlands
Belgium
Poland
Sweden
Norway
Denmark
Finland
Portugal
Ireland
Czech Republic
Slovakia
Slovenia
Hungary
Croatia

FAQs

How do I start trading on Bitpanda?

To begin trading, sign up for an account on the Bitpanda website, complete the verification process by submitting the required documents, and then deposit funds using one of the several payment methods available. Once your funds are credited, you can start buying, selling, or exchanging various cryptocurrencies and precious metals.

What cryptocurrencies can I trade on Bitpanda?

Bitpanda offers a diverse selection of cryptocurrencies, including major coins such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and many others. You can also trade precious metals like gold and silver directly on the platform.

What are the fees for trading on Bitpanda?

Fees vary depending on the type of transaction. For cryptocurrency purchases and sales, Bitpanda typically charges a fee that is included in the displayed price. Detailed information on specific fees for various transactions can be found directly on their website’s fee schedule.

Is Bitpanda available in my country?

Bitpanda primarily serves countries within the European Economic Area (EEA). If you are outside of these areas, such as in the USA or Canada, you will need to find another exchange due to regulatory restrictions.

What should I do if I encounter an issue on Bitpanda?

If you experience any problems, you can contact Bitpanda’s support team via live chat or email. Additionally, the Help Center on their website provides extensive resources and FAQs that might help you resolve common issues quickly. For urgent matters, especially those related to account security, using the live chat feature is highly recommended for faster resolution.

Can I use Bitpanda on my mobile device?

Yes, Bitpanda offers a mobile app that is available for both Android and iOS devices. The app provides full functionality, allowing you to buy, sell, and manage your assets just as you would on the desktop version of the platform.

How does Bitpanda secure user funds and personal information?

Bitpanda employs several robust security measures including SSL encryption, two-factor authentication (2FA), cold storage for the majority of the funds, and compliance with GDPR for protecting personal data. These features ensure that your assets and information are safe from unauthorized access.

Final opinion on Bitpanda

At Threenvest, we recognize that choosing the right cryptocurrency exchange is crucial for both novice and seasoned investors. Bitpanda stands out as a particularly strong contender in the European market, thanks to its user-friendly interface, diverse range of tradable assets, including cryptocurrencies and precious metals, and its commitment to security and regulatory compliance. These attributes make it an ideal platform for users who prioritize a seamless, secure trading experience in a regulated environment. However, it’s worth noting that Bitpanda’s trading fees are slightly higher compared to some of its global competitors, which might be a consideration for cost-sensitive traders.

While Bitpanda provides robust support and a wide array of services, its geographic limitation to primarily European countries might be a drawback for potential users outside this region. Nevertheless, for those within its operational boundaries, Bitpanda offers a comprehensive trading solution that balances ease of use with advanced features suitable for diverse trading strategies. At Threenvest, we recommend Bitpanda as a reliable option for users looking to explore the cryptocurrency markets, provided that its platform aligns with their specific financial needs and geographic location. Overall, Bitpanda continues to build on its strong foundation, aiming to enhance its offerings and expand its reach within the confines of rigorous European regulations.

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.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.