BitPanda: The provider is really serious
We have researched for you whether BitPanda is a reputable provider for trading Bitcoin and other cryptocurrencies.
BitPanda cryptocurrency exchange: serious or rip-off?
In order to be able to judge whether BitPanda is a reputable provider, we have put together a few facts:
- Company headquarters: BitPanda was founded in 2014 in Austria, where the company, initially known as Coinimal GmbH, is still based today.
- Security: At BitPanda you decide yourself about your security level. The company relies on the personal responsibility of the customers. A high level of security is guaranteed if you verify your account extensively. In addition to an identification form, verification via video chat is also required.
- Speed: With hardly any provider you can act faster than with Bitpanda. On the fully automated platform, bitcoins and other cryptocurrencies are automatically sent as soon as you have confirmed the payment.
- Trading: Trading cryptocurrencies on BitPanda is very easy. In addition to the function as a cryptocurrency exchange, you can also get your cryptocurrency wallet from the provider. You can also find out what a Bitcoin Wallet is from us. Bitcoin, Ethereum, Litecoin and Dash are traded. As a European company, BitPanda only allows purchases to be made within the EU. However, you can sell your cryptocurrencies from anywhere in the world.
- User experience: The customers of Bitpanda particularly praise the obviously good service of the provider. Questions are answered competently and friendly within a short time.
- Fees: One of the most common criticisms is that Bitpanda does not publicly disclose its fees. These are already included in the cryptocoin price, which is why the Bitcoin prices are significantly more expensive than those of the competition: the fee is included in the exchange rate. BitPanda's average exchange rate is around two percent above the average market price.
Conclusion: BitPanda safe trading with Bitcoin & Co
The cryptocurrency exchange, popular in Europe, can be classified as a reputable provider. What level of security you have depends on you in the end. If you are willing to go through an extensive verification process, trading and your wallets are very safe. The support is quick and competent. The fees are somewhat opaque because they are not shown but included in the exchange rate.
In our next practical tip, we'll compare two providers: Coinbase vs. BitPanda.