Bitpanda

Bitpanda is one of the biggest names that come up when looking for reputable exchanges to buy cryptocurrencies. This post reviews the company’s services and compares it to other exchanges out there. Bitpanda Review Summary Bitpanda is a cryptocurrency broker that specializes in buying and selling Bitcoins within the Eurozone. The company was founded in late 2014 and has since grown to become one of the more popular options to purchase Bitcoins around Europe. If you leave inside the EU it’s one of the cheapest ways to buy Bitcoin with a credit card or SEPA transfe

Bitpanda GmbH (formerly known as Coinimal) is a fintech company based in Vienna, Austria specialises in selling and buying Bitcoin and other cryptocurrencies. It has quickly grown to become Europe’s leading retail broker for Bitcoin, Ethereum, Ripple and more. With over 900K users the company has recently expanded its services to allow users to invest in precious metals (gold, silver) as well.

Bitpanda offers a brokerage service which enables its customers to buy and sell cryptocurrencies. Basically, this means Bitpanda supplies you with the coins directly, unlike a trading platform where you interact with other traders. The company charges a premium above market price for their services. Bitpanda To Go  offers the ability to buy cryptocurrency with cash through their “ service”. This service allows you to purchase cash-equivalent coupon codes in post offices around Austria, and later redeem those codes on Bitpanda for purchasing cryptocurrencies. Bitpanda Savings allows you to commit a certain amount each month and create a savings plan by buying Bitcoin or other cryptocurrencies. Bitpanda Metals allows you to diversify your portfolio with physically backed and 100% insured precious metals. You can also swap gold and silver with any other digital asset on Bitpanda. Bitpanda Swap allows you to instantly swap one cryptocurrency for another. There no limits on the transaction size of swaps. Bitpanda Plus allows high net worth individuals to buy large amounts of Bitcoin or other cryptos with better terms than the regular platform. Bitpanda is scheduled to launch its own trading platform soon. Bitpanda is also conduction an IEO (Initial Exchange Offering) of their token called BEST (Bitpanda EcoSystem Token). Similar to Binance Coin, this token will give Bitpanda users specific discounts on related services. Finally, the Bitpanda team has launched an ICO backed project called Pantos (PAN) which aims to be  an open-source, open-innovation driven scientific research project.

 

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Bitpanda fees for buying cryptocurrencies are 1.49% and 1.29% for selling them. However, fees are already incorporated into the price in real time so they are somewhat invisible to the user. This is good since you know exactly how much you’ll pay. On the other hand, it sometimes distorts the real price of the cryptocurrency.

 

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2 Responses

  1. Bitpanda Blog says:

    You read that right, we’re adding yet another digital asset to Bitpanda! From now on, you will be able to buy, sell and swap Qtum (QTUM) on Bitpanda. And what better way to celebrate this integration than a giveaway? Read on to find out how to win QTUM and BEST!

    What is QTUM?
    Qtum is an open-source cryptocurrency software aiming to combine Etherum’s smart contract functionality with Bitcoin’s security in order to offer an enticing alternative to the Ethereum blockchain. Due to the fact that Qtum offers higher security than Ethereum with a combination of keeping compatibility with Bitcoin, it’s safe to say that this attracts application developers. Qtum’s cryptocurrency, QTUM, is used to pay the fees of those who help manage the network.

    How to win the giveaway
    Now onto the exciting stuff. Our giveaway starts at 00:00 CEST on the 1st of September, 2020 and ends at 23:59 CEST on the 7th of September, 2020. Here are the prizes:

    Prize one: a total of €10,000 worth of BEST
    The top five users with the highest total amount of QTUM purchased will receive €2,000 worth of BEST each.

    Prize two: a total of €8,000 worth of QTUM
    The top ten users with the highest total amount of QTUM purchased will receive €800 worth of QTUM each.

    Prize three: a total of €2,000 worth of QTUM
    Ten users (outside of the top 10 users) who are BEST VIP level 1 and above and who trade any amount of QTUM will be randomly selected to receive €200 worth of QTUM each!

    Good luck everyone!
    Please note that you can only buy and sell QTUM on Bitpanda, deposits and withdrawals are not possible.

    You can read the terms and conditions here and we will credit the winners on their Bitpanda wallets within one week.

  2. Bitpanda Blog says:

    The 7th of August is not only the 1st trading anniversary for BEST, but also another landmark milestone for us as Bitpanda Pro turns one year old. So we put together a recap post to celebrate all our users and team members who accompanied the evolution of the Bitpanda Global Exchange to Bitpanda Pro, and beyond.

    Throwback to the 7th of August, 2019 at 13:00 CET. It is a sweltering day in Vienna. Thousands of users are waiting to start trading. After more than two years of long nights and countless hours of testing, the team behind the Bitpanda Global Exchange is ready to launch the most ambitious and complex Bitpanda project to-date: a European exchange offering crypto-to-crypto trading around the world (excluding the USA and China) and fiat-to-crypto trading in more than 54 countries.

    A reliable and trusted exchange
    Taking an unorthodox approach in the crypto industry, the Bitpanda Global Exchange has been developed 100% in-house, in line with strict EU compliance requirements. Launching an exchange was the next logical step for us after successfully establishing Bitpanda as a trusted broker service.

    Only a few days earlier, Bitpanda not only crossed the milestone of one million users but also sold out its Initial Exchange offering (IEO) for the Bitpanda Ecosystem token (BEST). The amount of €43.6 million, that was raised with BEST in the scope of the IEO, was and is being used to drive the expansion of the Bitpanda ecosystem. The launch of the Bitpanda Global Exchange was an important first step on this journey.

    A new world
    Fast forward five days to the 12th of August. More than 1,000 traders have actively been trading on launch day, with others watching the overall performance. During the first 24 hours, trading volume reaches €1.722 million. Over the next few days users generate a respectable general volume for a brand-new exchange of around €0.5 to €2 million a day.

    While the team is proud that there haven’t been any technical hiccups, it becomes evident that some of the existing Bitpanda user base will need more time to familiarise themselves with trading cryptocurrencies and knowledge on how to trade on an exchange. We addressed this in an open letter by our CEOs shortly after launch.

    New features
    Right after the launch, no fewer than 15 smaller updates including new features to increase API performance and to improve the UI are rolled out by the exchange team.

    As the size of the Bitpanda team grows, BEST also gains traction over the course of autumn as an increasing number of traders are onboarded. During an AMA, Bitpanda CEO, Paul Klanschek, announces further new products, new features, new digital assets, new trading pairs and the first BEST incentive: the upcoming activation of trading fees payment on Bitpanda Pro with BEST.

    Payment with BEST on the Bitpanda Global Exchange
    And the promise is delivered. Starting from the 30th of October, users are able to pay their trading fees on the exchange using BEST and receive a 25% reduction on their fees. In addition, Bitpanda guarantees users that one BEST will have a minimum value of €0.12 when used to pay fees until the end of 2020. Shortly after, the first BEST token burn is announced for after the first quarter of 2020, to continue on a quarterly basis.

    FinTech Austria Award
    In November, Bitpanda receives the FinTech Austria Award as a testament to actively shaping the growing Viennese Fintech scene, December sees the successful launch of a partnership between the Bitpanda Global Exchange with trading bot platform HaasOnline, allowing traders on the exchange to deploy customised crypto trading bots with manually fine-tuned strategies within minutes.

    Burning for the burn
    As an increasing number of traders use BEST to pay their trading fees on Bitpanda Global Exchange and in light of the tremendous popularity of BEST in the Bitpanda community, the date of the first BEST burn is moved forward to the 30th of January from the end of April in another step towards Bitpanda’s growth strategy for BEST and the exchange.

    In the meantime, while volume and liquidity of the exchange rise sustainably and the Bitpanda Global Exchange team grows in numbers, additional features are offered to traders with a focus on increasing solid development. The publication of new and in-depth public API documentation is met with great trader interest on the front of algorithmic trading, as Bitpanda enters into further partnerships with trading bot providers.

    Bitpanda Global Exchange becomes Bitpanda Pro
    It wouldn’t be Bitpanda though if we weren’t always challenging the status quo. After thorough analysis, Bitpanda announces the re-positioning of the Bitpanda Global Exchange for the beginning of March 2020 to offer new users and institutional clients even better trading. And hence, not even nine months after the launch of the asset exchange product, Bitpanda proudly presents the adaptations – and a brand-new name. Who says we aren’t full of great surprises?

    From March 2020, Bitpanda Global Exchange is now Bitpanda Pro with a focus on crypto-to-fiat markets with European currencies (EUR, CHF and GBP), and providing users with the most secure go-to-place for digital asset trading with European fiat currencies.

    The BEST trading experience
    Behind the scenes, Bitpanda Pro keeps working to deliver on another promise made to traders – soon, the start of the first trading competition on Bitpanda Pro is announced for the 22nd of April.

    Bitpanda and Bitpanda Pro are increasingly garnering the attention of international media with the announcement of expansion plans to offer services to users in France, Turkey and Spain. For exchange users, the service range is expanded further by the Bitpanda Pro partnership with NapBots and a Bitpanda blog article series on how to get started on Bitpanda Pro as a novice trader.

    The BEST exchange
    In the middle of May 2020, Bitpanda scores a double victory, when Boerse-online.de, a subsidiary of finanzen.net, publishes its analysis of all established broker and exchange platforms with high Euro trading volume.

    Bitpanda and Bitpanda Pro both finish on top, with Bitpanda Pro coming in on top overall as Börse Online deems Bitpanda Pro Europe’s exchange with the most competitive fees, best service and security – after launching just nine months earlier!

    The end of May sees another update with over 100 improvements added to Bitpanda Pro including advanced order types and a reworked mobile user-interface, a partnership with trading bot service provider Cryptohopper and the integration of the CCXT library function for advanced exchange users.

    A hot summer birthday
    Fast-forward to the 7th of August, 2020, another sweltering day in Vienna. The exchange is busier than ever with traders enjoying a sizzling summer of trading competitions hosted on Bitpanda Pro. From trading as much as possible across all Bitpanda markets, to pushing the prize pool “To the Moon”, to reaching new trading peaks by Going Swiss and the biggest competition still to come, traders have been offered the chance to participate in new challenges on Bitpanda Pro, every few weeks, all summer long.

    Because this is just what we do at Bitpanda: we work hard and we have fun – and we couldn’t have done it without the loyal support of Bitpanda and Bitpanda Pro users!

    Happy Birthday!

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