Bitpanda Wallet Review 2020
Europe’s largest trading platform for crypto currencies, has recently carried out a new redesign. In this update I would like to show you all the essential points to buy and sell cryptocurrencies at Bitpanda.
The Bitpanda Fees at a glance:
When buying a crypto currency 1.49% fee will be charged. If you want to sell your coins, a compensation of 1.29% will be taken.
Payouts are possible in the following currencies:
Another advantage is that you can send crypto currencies for free to users of Bitpanda and e-mail addresses worldwide. I also like the new presentation of the portfolio and the coinslider, which shows all coins beautifully and clearly.
What is Bitpanda?
Bitpanda (Coinimal GmbH) is an Austrian start-up company specializing in the sale and purchase of Bitcoin & Co. Bitpanda was founded in October 2014. The founding members are Bitcoin fanatics, who initially had to overcome many hurdles in order to buy and sell Bitcoins in the EU. Bitpanda is a fully automated platform. As soon as a payment has been confirmed, Bitcoins & Co. will be sent automatically. Because of this technology it is possible to offer the best and fastest service to its existing customers. As of today, Bitpanda has over 850,000 users and is Europe’s leading trading platform for crypto currencies. As soon as a payment is confirmed, crypto currencies are automatically forwarded to the buyer. This high technology enables the users of the trading platform to offer one of the best services in the industry.
Bitpanda Wallet Test
The Bitpanda Wallet (electronic wallet) was very easy to register and the operation of the platform is very straightforward and easy to understand. I immediately made a trial purchase where I made the minimum investment of 0.02 BTC. The next day, I ordered a payout to get to know the whole process. The Bitpanda payout took me 3 days.
Payout methods are:
SOFORT-Transfer (Works in Austria, Belgium, Germany, Italy, the Netherlands, Spain and Switzerland)
Fiat Wallet (EUR, GBP, USD, CHF)
Insight into the back office of Bitpanda
The user-friendly menu is immediately noticeable. A quick orientation is also given. You can find an excerpt of what the back office looks like below.
First I made a test amount of converted 50 €. With this amount no verification is necessary. If you want to deposit more, you can’t avoid a verification.
Nowadays you are not able to deposit anything, if you are not verified.You are probably wondering how the Bitpanda Limits look like. I have provided you with a small overview of the limits.Below you can see the unverified and verified limits.
What Bitpanda fees do I have to pay?
Unfortunately there is no clear listing of fees on the homepage. Therefore I did the work to research the internet for you. I noticed the following that the selling price is lower than the purchase price. In the technical language this term is also called „spread“!
This merit belongs to the Exchange platform. On average the spread for Bitcoin is about 3% and for Ethereum about 5-6%. For Litecoin the spread is 6% and for Dash approx. 8%. Recently there is also a Eurowallet, which serves as a hedge, if the crypto currencies make a correction downwards, so that one can convert his investment immediately to the Eurowallet. The cheapest way is to buy by bank transfer immediately.
You also have the possibility to create and manage personal contact lists at Contacts. The improved user experience is absolutely great, which can be seen in the speed and the new features. The support has also improved significantly and a quick answer to a question is also given in the Help Desk for example.
Cryptocoins you can buy at Bitpanda
Currently, the purchase and sale of the following crypto currencies is possible:
- Bitcoin (BTC)
- Ethereum (ETH)
- IOTA (MIOTA)
- Litecoin (LTC)
- Ripple (XRP)
- Komodo (KMD)
- Bitcoin Cash (BCH)
- Pantos (PAN)
- Ethereum Classic
New coins are constantly being added. At the moment there are twenty three of them.
Bitpanda to Go
In Austria, prepaid crypto currencies can be purchased at over 1,800 post offices and postal partners. Without verification you can deposit directly into your wallet, just enter your e-mail.
In 3 easy steps from EUR to a crypto currency of your choice:
In every post office in Austria you have the choice to buy codes for 50 €, 100 € and 500€. Create an account and simply enter your e-mail address and that’s enough!
Login to your BitPanda account and buy crypto currencies
The excellent balance of security, speed and reliability is reflected by state-of-the-art servers with powerful API applications. In addition, it must be said that the offline wallets are also completely secure!
On the way to work or on the train?
Verification, fast buying and selling with a fully automated ordering system, available around the clock, 7 days a week.
You must be wondering what Bitpanda Swap is? The latest invention of Europe’s leading platform for crypto currencies, Bitpanda Swap allows users to instantly exchange crypto currencies in a fast and convenient way. The mission of the founders and developers is to make digital assets accessible to everyone in the world through usability and trustworthiness.
What security does Europe's largest trading platform for crypto currencies offer?
Of course, the platform has an SSL encrypted website and DDoS protection. Customer credit is stored in Cold Storage. An integration of the two-factor authentication offers additional security. Another bonus is a session tracker that shows you when you have logged in and logged out. The website is in English and German. The customer support usually speaks: English, German, Italian, Dutch and French.
A serious company which has a secure branch in Austria. All in all I can only recommend BitPanda to you, I will not use other providers, because I am more than convinced of this provider. The verification takes some time and only serves to protect the contributors. Plan some time in advance. If you have further questions you can contact me via e-mail.