BitPanda

BitPanda

BitPanda
In Social Media:
Very basic Ease of use,  Enough secure,  Anonymously trading

BitPanda is a fully automated platform. As soon as payments are confirmed, the user receives the crypto-coins in less than two minutes. The exchange is designed for everyone, from newbies to experienced traders and offers several methods of payment. This technique provides one of the fastest services in the business.

The platform is designed for European users and provides a simple and clean user-interface. All the functions are easy to use and users don't need a technical background in order to use the exchange. The price of the cryptos consists of the market rate and access to full transaction features depends on the user's level of verification.

Crypto Currencies Support

Traditional Currency Support

  • Euros (EUR)

Language Support

  • English
  • German

Country Support

  • European Union
  • Norway
  • Switzerland
  • United Kingdom of Great Britain and Northern Ireland

Platforms Systems

  • Web Interface

Stock Market Options

Interface
customisation:

  • Not customizable

Advanced
Options:

  • Limit Order
  • Market Order

The platform encrypts user-data and uses Trezor cold-storage for assets, while the website and the wallets are kept on different servers. They also provide an SMS verification on every login. The company requires a level verification in order for one to take advantage of all the features available.

Summary:

2 Factor Authentication
Yes
Funds Insured
Funds are not insured
Private Keys Stored On
Exchange platform
Storage Type
They claim to hold user funds in cold storage but are not specific about it.

Advanced Security Features:

  • Email reports of logins
  • Monitor bahavior patterns for suspicious activity

Security Features:

  • SSL

BitPanda is a product of Coinimal GmbH, a company based in Vienna, Austria. The platform started under the name of Coinimal but soon was changed to BitPanda by its founders, Erich Demuth, Christian Trummer, and Paul Klanschek. They aim to offer a more convenient exchange service than what currently exists and to mitigate any risks for their customers by not holding any funds in hot storage.

Summary:

The platform is great and has a lot of positive reviews. We recommend paying attention to the fees they apply as this is not a transparent feature. Their customer support is easy to get in touch with for users and most of customer issues are easily solved. A mobile app would have been a good choice for the platform to keep up with the competition.

Ease of use
Very basic
Transaction Fees
N/A
Deposit/Withdrawal Fee
N/A
Deposit/Withdrawal Fee c For Bank Transfer
N/A
Deposit/Withdrawal Fee For Credit Card
N/A
Deposit/Withdrawal Fee Charged For 3rd party Payments
N/A
Anonymous Trading
Yes

Deposit/Withdrawal Options:

Deposit from bank account, Deposit using credit card, Deposit using 3rd party, Withdrawl funds to bank account, Withdrawal funds to credit card, Withdrawal funds through a third party, Send/Receive Crypto

Functionality:

BitPanda customers worldwide can sell cryptocurrency on the platform. Buying is only available for European consumers. There is a minimum deposit of 0.00100 BTC required and a fee of 0.00010 BTC is charged for deposits below 0.10000 BTC, All the transaction fees are included in the currency price and can be checked before finalizing the purchase.

Most common
customer complaint:

Invasive verification process, no mobile app, slow transactions, high fees