bitpanda

What is bitpanda？

Bitpanda is a European cryptocurrency exchange founded in 2014 in Vienna, Austria. It is a regulated exchange, offering over 100 cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. It also offers a variety of features, such as margin trading, staking, and a crypto debit card. Bitpanda has over 3 million users and a 24-hour trading volume of over $1 billion. The exchange's maker and taker fees are 0.15% and 0.25%, respectively.

Pros and cons

Security & Storage

Bitpanda boasts that it has taken some security measures to protect clients' funds .

• Cold storage: The majority of Bitpanda's cryptocurrency assets are stored in cold storage, which means that they are offline and not connected to the internet. This makes them much less vulnerable to cyberattacks.
• Multi-signature wallets: Bitpanda's hot wallets (which are connected to the internet) use multi-signature wallets. This means that multiple people need to approve a transaction before it can be processed. This makes it much more difficult for unauthorized individuals to access user funds.
• Two-factor authentication (2FA): Bitpanda requires all users to enable 2FA. This means that users need to enter a code from their phone in addition to their password when logging in. This adds an extra layer of security to prevent unauthorized access to accounts.

Cryptocurrencies available

There are over 100 cryptocurrencies available on the Bitpanda exchange. This includes both major cryptocurrencies like Bitcoin and Ethereum, as well as smaller altcoins.

Bitpanda does not have a set coin listing speed. The time it takes for cryptocurrency to be listed on Bitpanda depends on a number of factors, including cryptocurrency popularity, cryptocurrency liquidity, regulatory requirements for the cryptocurrency, compliance requirements for Bitpanda, etc. In general, Bitpanda is relatively quick to list new cryptocurrencies. However, there have been some cases where it has taken several months for cryptocurrency to be listed.

Apart from cryptocurrencies, itpanda also offers different instruments to invest in, such as stocks, ETFs, crypto indices, valuable metals, and commodities.

How to open an account？

The registration process for Bitpanda is relatively straightforward and can be completed in six simple steps:

1. Visit the Bitpanda website and click on the “Register” button to begin the registration process.

2. Provide your email address and create a strong, unique password. This password will be used to secure your account and should be kept confidential.

3. Verify your email address by clicking on the verification link sent to your email inbox. This step is necessary to ensure the security of your account.

4. Complete the identification process by providing your personal information, including your full name, date of birth, and residential address. This information is required for compliance with Know Your Customer (KYC) regulations.

5. Upload the necessary identification documents, such as a valid government-issued ID or passport, to verify your identity. This step is also part of the KYC process and guarantees the security and integrity of the platform.

6. Once your identity is successfully verified, you can deposit funds into your Bitpanda account and start trading cryptocurrencies.

How to buy Cryptos？

To deposit money into your Bitpanda fiat wallet and purchase cryptocurrencies, the process involves a few straightforward steps. Firstly, for depositing fiat currency, you start by clicking on the “Deposit” button located on the navigation bar of the Bitpanda platform, whether on desktop or mobile apps. Select the appropriate fiat wallet for the currency you're depositing and choose a payment provider. You'll then enter the amount you wish to deposit and proceed to a summary page. After agreeing to the terms and confirming the payment method is yours, for certain methods, you'll need to enter an SMS-PIN (not required for bank transfers). Complete the payment on the payment provider's website or follow bank transfer instructions. Once done, you'll be redirected back to Bitpanda, and your fiat wallet will be credited.

For buying cryptocurrency, once you have money in your fiat wallet, you navigate to the “Trade” section and select “Buy.” Choose the cryptocurrency or digital asset you want to buy, and select your fiat wallet as the payment source. Decide on the amount you wish to purchase, and then review your order in the summary. After forgoing your right of withdrawal, confirm the purchase to complete the transaction. This process allows you to quickly react to market changes and make timely investments in various cryptocurrencies.

Fees

On Bitpanda Pro, when you trade normally, there's a fee called a “maker fee” which can be up to 0.15%. But if you do a lot of trading and your total trading volume goes above 100,000 EUR in a month, this fee can go down. The highest fee you might pay for quick trades, called a “taker fee,” is 0.25%.

Deposit & Withdrawal

Deposit and withdrawal terms vary based on the currency you are using, such as USD, EURO, and others.

For EURO deposit and withdrawal:

For EURO deposits and withdrawals, users can select from these payment choices: SEPA, ApplePay, SOFORT, VISA, Mastercard, eps, giropay, Skrill, and NELLER. Similarly, for withdrawals, users have the option to use Skrill, NETELLER, bitpanda payments, or SEPA.

The smallest amount you can use to buy and sell assets is €1.00 or the equivalent in GBP, CHF, USD, TRY, PLN, SEK, DKK, HUF, or CZK.

For USD deposit and withdrawal:

For deposit and withdrawal using this currency, users have the option to make payments using Skrill, VISA, Mastercard, or Bank Transfer, and for withdrawals, you can choose between Skrill or Bank Transfer. The minimum amount for depositing and withdrawing funds in USD via bank transfer is $25.

Compare BitMart with other exchanges

Features
Trading Fees	Taker fees: 0.25%Maker Fees: 0.15%	Maker: 0.04%, Taker: 0.075%	Maker: 0.05% - 0.1%, Taker: 0.1% - 0.5%	Up to 0.40% maker fee and up to 0.60% for taker fee
Cryptocurrencies	100+	500+	11	200+
Regulation	Regulated by AMF	Regulated by NMLS, MAS/FinCEN (Exceeded)	Regulated by FSA ( Japan), NMLS, CSSF, DFI, NYSDFS	Regulated by NMLS , FCA, NYSDFS, SEC (Exceeded), FINTRAC (Exceeded)