Bitpanda review & 2 testimonials for www.bitpanda.com (03.2020)
- Overview: is Bitpanda safe?
- Pros & Cons of Bitpanda
- Services, Bitpanda Provides
- Currencies & Payment Systems
- Bitpanda fees
- Buying and selling limits
- Supported countries
- Customer service
- Verification at Bitpanda
- Deposit/withdrawal speed
- Customers' testimonials
- FAQ about Bitpanda
- Bitpanda vs other exchanges
- Conclusion: is Bitpanda legit or scam?
What is Bitpanda in a nutshell? It's maybe not the most popular, but respectable, well established, exchange service (trading platform) supporting 1 cryptocurrency: you can buy and sell coins using 2 fiat currencies (11 banks & payment systems are supported). Exchange service started the business Jun 2014, it's a fully compliant, licensed financial company. Besides the cryptocurrencies exchange, Bitpanda also provides other services, for example, Payments for Utility Bills, Precious Metals Trading / Investments.
This service works with a number of currencies, banks, and payment systems.
Hence to estimate the fees level we calculated an average fee you'll spend for an exchange here.
Based on this number
(2.87%)
we may say that Bitpanda
charges
considerably low fees, comparing to the local market:
1.29% — 5.09%
(although, according to our statistics
73%
exchanges take higher average fee)
This Trading Platform welcomes customers from
46
countries
(unfortunately, your country: United States is not supported at the moment;
but there are good alternatives).
Due to regulatory restrictions, US citizens and residents are not served by the exchange.
Unfortunately we couldn't yet collect enough data about the order processing speed from the customers of Bitpanda,
although according to the information from the exchange itself, order processing is automated and should be instant.
Depending on the order details, you may need to verify your account
Based on all these facts, our verdict is the following: Bitpanda is a legit, but promising, although not yet reviewed much by our visitors place to buy and sell Bitcoins, an interesting exchange that we believe will get some nice feedback soon!
Overview: is Bitpanda safe?
Bitpanda is the Trading Platform; Bitpanda GmbH (dba Bitpanda) started the business in June 2014. The company is based in the Switzerland with the headquarters located in the Vienna. Official Bitpanda address is Campus 2, Jakov-Lind-Straße 2 1020. The firm is a licensed MSB, regulated by the Finanzmarktaufsichtsbehörde (FMA); it holds the Financial Services license.
Bitpanda was founded by Eric Demuth, Paul Klanschek & Christian Trummer. Bitpanda CEO is Paul Klanschek, Eric Demuth.
Bitpanda also holds PSD2 payment service provider license; the software is compliant with the highest standards of data security.
Bitpanda has quickly grown into a popular trading platform, becoming Europe's leading retail broker: there are over a million users; the team has over 100 members. It has an impressive list of features interesting for the newbies and pro traders alike. It's definitely more than just another crypto exchange! Besides the features described below, there is a native token BEST, holders of which enjoy discounted fees and rewards and get priority access to all the new exciting future products in the ecosystem.
Answering the question how safe is Bitpanda:
We are sorry, our platform has't yet collected enough data, but you can help! We know fairly much about this Trading Platform (please continue reading), but our policies require to collect more testimonials from the users of Bitpanda to draw a conclusion. Do you have any experience dealing with this service? Please add your feedback, this will be a great help! Or maybe you know someone who does? Kindly ask him/her to tell us about it here! We really appreciate your participation.Pros & Cons of Bitpanda
Although Bitpanda is not yet rated by our visitors, common sense tells us it should have both strong sides and some downsides. Let's check it out:
- It's very stable and reliable exchange service operating from 2014.06. Fully compliant and regulated business, service provided by licensed financial company.
- Fees are not high in comparison with other local exchanges.
- Besides the buying and selling, you may trade cryptocurrencies and earn some profit.
- Bitpanda is something much bigger than just another crypto exchange, there are extra services, some of which may be very interesting for bitcoiners.
- Many countries are not supported, please check if yours is in this list before registering!
- Trading platform business model is based on holding the clients funds at the online wallet; such approach has some risks.
Seems that there are not so many cons, but a lot of pros. We hope you will enjoy your experience exchanging at Bitpanda! Try Bitpanda today and let us know how you like it!
Services, Bitpanda Provides
The platform provides the following cryptocurrency exchange-related services:
- Allows the customers to buy cryptocurrencies with fiat currencies
- Provides the clients with ways to "cash out" the crypto to fiat currency
- Payments for the utility bills (water, electricity, landline, gas, etc.) in cryptos
- Investing and/or trading in precious metals: gold, silver, platinum, palladium, etc.
That's impressive number of features! According to our statistics, 96% of the competition provide less services, many just allow the buying and selling, so this trading platform is among the champions in this field!
Currencies & Payment Systems
Bitpanda provides the service of buying and selling 1 digital currencies using fiat currencies. The following cryptocurrencies are available to buy/sell: Ripple (XRP).
If you are not sure, which one of these electronic currencies you are most interested in, you are welcome to read our guides. For example, these: Cryptocurrencies without proof of work to buy in 2020.
2 fiat currencies are supported to provide crypto purchase and selling: Euro (EUR), US Dollar (USD). The Trading Platform will let you buy and sell Bitcoins using the following payment systems:
- Visa & Mastercard. An international payment system (available worldwide) allowing credit/debit cards payments in various currencies. GBP, CHF, EUR and USD payments are available for purchasing cryptos at the exchange. Visa & Mastercard is a popular way to buy BTC and other cryptocurrencies available at 29 exchanges of various types. You are welcome to find the best rate for buying bitcoin with visa & mastercard at our home page!
- Skrill. An international payment system (available worldwide) allowing e-wallet payments in various currencies. CHF, EUR, GBP and USD payments are available for both buying and selling cryptocurrencies at this exchange.
- SEPA Transfer. An international payment system (it's available in 46 countries) allowing international bank transfers payments in Euro currency. Just the EUR payments are available for both buying and selling cryptocurrencies at this exchange.
- NETELLER. An international payment system (it's available in 202 countries) allowing e-wallet payments in various currencies. CHF, EUR, GBP and USD payments are available for both buying and selling cryptocurrencies at this exchange.
- Amazon. An international payment system (it's available in 11 countries) allowing gift cards payments in various currencies. Just the EUR payments are available for selling cryptocurrency to fiat solely; at the time you can't buy crypto using this payment method here.
- Zimpler. An international payment system (you may use from Germany, Finland, Sweden) allowing mobile payments payments in various currencies. Just the EUR payments are available for purchasing cryptos at the exchange.
- Bitpanda To Go. A local payment system (serving Austria) allowing prepaid cards payments in Euro currency. Just the EUR payments are available for purchasing cryptos at the exchange.
- SOFORT (Klarna). A local bank (it's available in 13 countries) in various currencies. CHF, EUR and GBP payments are available for purchasing cryptos at the exchange.
- GiroPay. A local bank (serving Germany) in Euro currency. Just the EUR payments are available for purchasing cryptos at the exchange.
- EPS Überweisung. A local bank (serving Austria) in Euro currency. Just the EUR payments are available for purchasing cryptos at the exchange.
- iDEAL. A local bank (serving Netherlands) in Euro currency. Just the EUR payments are available for purchasing cryptos at the exchange.
Bitpanda fees
The fees you need to pay at this trading platform during the process of buying and selling cryptocurrencies are easier to understand if you break it down like that (note that you can skip the details, jumping to the conclusion):
-
Deposit/withdrawal fee.
Depending on the fiat payment system and currency, it's as follows:
- Commission for the money withdrawal to Amazon in Euro: 1.29%
- 4.48% to deposit funds by Bitpanda To Go in Euro.
- 3.49% + €0.25 to deposit funds by EPS Überweisung in Euro.
- 3.49% + €0.25 to deposit funds by GiroPay in Euro.
- 3.49% + €0.25 to deposit funds by iDEAL in Euro.
- 5.09% + €0.9 to deposit funds by NETELLER in Euro.
- 5.09% + $0.9 to deposit funds by NETELLER in US Dollar.
- 5.09% + £0.9 to deposit funds by NETELLER in Pound Sterling.
- 5.09% + 0.9 to deposit funds by NETELLER in Swiss Franc.
- Commission for the money withdrawal to NETELLER in Euro: 1.29%
- Commission for the money withdrawal to NETELLER in US Dollar: 1.29%
- Commission for the money withdrawal to NETELLER in Pound Sterling: 1.29%
- Commission for the money withdrawal to NETELLER in Swiss Franc: 1.29%
- Commission for the money withdrawal to SEPA Transfer in Euro: 1.29%
- 1.49% to deposit funds by SEPA Transfer in Euro.
- 5.09% + $1 to deposit funds by Skrill in US Dollar.
- 5.09% + £1 to deposit funds by Skrill in Pound Sterling.
- 5.09% + 1 to deposit funds by Skrill in Swiss Franc.
- Commission for the money withdrawal to Skrill in Euro: 1.29%
- Commission for the money withdrawal to Skrill in US Dollar: 1.29%
- Commission for the money withdrawal to Skrill in Pound Sterling: 1.29%
- Commission for the money withdrawal to Skrill in Swiss Franc: 1.29%
- 5.09% + €1 to deposit funds by Skrill in Euro.
- 3.48% to deposit funds by SOFORT (Klarna) in Euro.
- 3.48% to deposit funds by SOFORT (Klarna) in Pound Sterling.
- 3.48% to deposit funds by SOFORT (Klarna) in Swiss Franc.
- 2.99% to deposit funds by Visa & Mastercard in Euro.
- 2.99% to deposit funds by Visa & Mastercard in US Dollar.
- 2.99% to deposit funds by Visa & Mastercard in Swiss Franc.
- 2.99% to deposit funds by Visa & Mastercard in Pound Sterling.
- 1.99% to deposit funds by Zimpler in Euro.
-
Trading fee.
This trading platform charges the following when you make the funds transfer:
- 0.1% of the exchange amount, whatever fiat or crypto currency you exchange.
-
Cryptocurrency withdrawal fee.
Please note that this fee applies only when you
transfer the crypto 'out': to your own wallet, to someone else, etc.!
- 0.000030 BTC when you purchase Bitcoins
Are Bitpanda fees high or low?
Now it's time to draw a conclusion: considering the average fee the exchange changes for an operation we can state that Bitpanda charges less fees than most of the local competition. According to our statistics, the median (average) fee the local exchanges take from a buyer for the GBP to BTC exchange is currently about ~3.5% that's roughly the same charges Bitpanda does. The exact rate depends on the Bank or Payment System choice. For example, an average fee you pay to buy Bitcoin with Visa & Mastercard in EUR across various exchange brokers, trading platforms, p2p marketplaces and e-wallets is 5%, Bitpanda charges 2.99% for this. A nice opportunity and as you can see, the fee is low enough! Hence we know that Bitpanda fees for certain exchange directions are rather moderate.
Buying and selling limits
This Trading Platform has the following limits, applicable when you buy or sell cryptocurrencies:
-
Purchase limits (when you buy crypto).
- EUR 50 minimal buy and EUR 500 max purchase when using Bitpanda To Go in Euro.
- €10,000 max purchase when using EPS Überweisung in Euro.
- €10,000 max purchase when using GiroPay in Euro.
- €10,000 max purchase when using iDEAL in Euro.
- €10,000 max purchase when using NETELLER in Euro.
- EUR 10,000 max purchase when using NETELLER in US Dollar.
- EUR 10,000 max purchase when using NETELLER in Pound Sterling.
- EUR 10,000 max purchase when using NETELLER in Swiss Franc.
- EUR 49,999 max purchase when using SEPA Transfer in Euro.
- EUR 10,000 max purchase when using Skrill in US Dollar.
- EUR 10,000 max purchase when using Skrill in Pound Sterling.
- EUR 10,000 max purchase when using Skrill in Swiss Franc.
- €10,000 max purchase when using Skrill in Euro.
- €10,000 max purchase when using SOFORT (Klarna) in Euro.
- EUR 10,000 max purchase when using SOFORT (Klarna) in Pound Sterling.
- EUR 10,000 max purchase when using SOFORT (Klarna) in Swiss Franc.
- €2,500 max purchase when using Visa & Mastercard in Euro.
- EUR 2,500 max purchase when using Visa & Mastercard in US Dollar.
- EUR 2,500 max purchase when using Visa & Mastercard in Swiss Franc.
- EUR 2,500 max purchase when using Visa & Mastercard in Pound Sterling.
- €2,500 max purchase when using Zimpler in Euro.
-
Withdrawal limits (when you out-exchange crypto to the fiat money).
- €500 maximal withdrawal when receiving money to Amazon in Euro.
- €100,000 maximal withdrawal when receiving money to NETELLER in Euro.
- EUR 100,000 maximal withdrawal when receiving money to NETELLER in US Dollar.
- EUR 100,000 maximal withdrawal when receiving money to NETELLER in Pound Sterling.
- EUR 100,000 maximal withdrawal when receiving money to NETELLER in Swiss Franc.
- EUR 5,000,000 maximal withdrawal when receiving money to SEPA Transfer in Euro.
- €100,000 maximal withdrawal when receiving money to Skrill in Euro.
- EUR 100,000 maximal withdrawal when receiving money to Skrill in US Dollar.
- EUR 100,000 maximal withdrawal when receiving money to Skrill in Pound Sterling.
- EUR 100,000 maximal withdrawal when receiving money to Skrill in Swiss Franc.
Supported countries
Platform allows the users from 46 countries to use the exchange. The following countries are supported by the trading platform:
- Aland Islands (AX)
- Andorra (AD)
- Austria (AT)
- Belgium (BE)
- Bulgaria (BG)
- Croatia (HR)
- Cyprus (CY)
- Czech Republic (CZ)
- Denmark (DK)
- Estonia (EE)
- Finland (FI)
- France (FR)
- French Guiana (GF)
- Germany (DE)
- Gibraltar (GI)
- Greece (GR)
- Guadeloupe (GP)
- Hungary (HU)
- Iceland (IS)
- Ireland (IE)
- Italy (IT)
- Latvia (LV)
- Liechtenstein (LI)
- Lithuania (LT)
- Luxembourg (LU)
- Malta (MT)
- Martinique (MQ)
- Mayotte (YT)
- Monaco (MC)
- Netherlands (NL)
- Norway (NO)
- Poland (PL)
- Portugal (PT)
- Réunion (RE)
- Romania (RO)
- San Marino (SM)
- Slovakia (SK)
- Slovenia (SI)
- Spain (ES)
- St. Barthélemy (BL)
- St. Martin (MF)
- St. Pierre & Miquelon (PM)
- Sweden (SE)
- Switzerland (CH)
- United Kingdom (GB)
- Vatican City (VA)
Does Bitpanda allow the users from United States (US)?
Sorry, but the Bitpanda can't provide the services to the citizens and residents of the United States of America at this time, due to the local regulations and licensing matters, etc. But there are no reasons to get disappointed because of that, there are plenty of great exchanges as well as the ones of Trading Platform type, who warmly welcomes the American people! We can recommend you to look at these:
Customer service
Verification at Bitpanda
The trading platform may require the customers to pass through the user identification (account verification) process. The following procedures should be completed if you desire to buy or sell the cryptos using fiat money here:
- ID verification
- A bank account verification (if you wish to use this payment method)
- A video verification (over a webcam)
Note that the verification is only required for the exchanges with fiat currencies (i.e. buying and selling digital currencies)! You may skip the video verification if you plan to use only the bank transfers. Some fiat withdrawal options are available even without KYC!
According to the customers surveys results, the average time to verify an account at Bitpanda is the following:
Sorry, we haven't yet collected enough data. Do you know, how fast Bitpanda does account verification? Kindly let us know, too. Thank you very much!
Deposit/withdrawal speed
Bitpanda processes the orders automatically, that's definitely a good thing and the process should take no time. Although we know that some exchanges require various forms of staff approval, etc. for the specific orders; such ones generally take longer. Even fully automated platforms sometimes delay the funds delivery, so if you know that it's the case here at this trading platform, let us and the community know about it, please!
Is Bitpanda instant?
So, what can we see? In accordance with the data we know about the trading platform, orders at Bitpanda should be instant. Although we don't have enough information about the order delivery speed from actual customers yet, sorry.
Customers' testimonials
Our users left 2 testimonials about their experience dealing with Bitpanda, 100% of the testimonials are positive, 0% are neutral and there are 0 negative ones. Feel free to read as many of these as you like!
Very good and professional service. Used it couple of times and was very impressed. THANK YOU!
Bought some coins using Klarma instant payment from my bank account, so far so good. I will surely come back for more!
Overall result if great! 100% positive testimonials is something the business owners are very proud of, such a rating is hard to get and even harder to maintain! It means the community really trusts and likes the Bitpanda services, so most likely, you'd enjoy it too!
FAQ about Bitpanda
Does Bitpanda holds my funds?
Yes, it does. Although you can always withdraw the funds to your e-currency wallet "by default" Bitpanda holds your balance at it's own hot storage wallet. This is the standard practice for all the trading platforms, although we recommend to keep only the funds you need for the trading at the exchange.
Is Bitpanda a good trading platform?
Although we have not enough users' reviews yet, we analyzed the information we have. Feel free to get acquainted with the details reading this review or just jump to the conclusion!
Is Bitpanda licensed? Does it hold e-money license?
Yes, Bitpanda GmbH (entity doing business as Bitpanda exchange) is licenced and regulated financial company. It holds Financial Services license and is regulated by the Finanzmarktaufsichtsbehörde (FMA) of the Switzerland.
Is Bitpanda a ripoff?
It is not a ripoff, although we have not rated Bitpanda yet due to lack of user testimonials, it complies with our standards. Feel free to read the whole this review to understand why or check our conclusion: is Bitpanda legit or scam.
Bitpanda vs other exchanges
Let's compare Bitpanda to other similar exchange services with similar features: others of trading platform type mostly. Besides, seems reasonable to compare the platform with the exchanges having similar rating and serving (mostly) the same geographic, etc. Remember that if you wish to find the exchange offering the best price to buy/sell Bitcoin and 33 other cryptos, check the best rates to buy bitcoin and crypto in United States!
Bitpanda vs Binance
Let's compare the key features of these two platforms to see which one suits you best:
- Binance is a trading platform Bitpanda is a trading platform, both are using the same business model.
- Binance had started the business April 2017 Bitpanda started the business June 2014 (Bitpanda operates 2 years and 10 months longer).
- Binance has all the required business licenses and permissions Bitpanda has all the required business licenses and permissions (both exchange services operate using the same approach to the business, utilizing a same legal model).
- Besides the crypto to crypto exchange, Binance provides the following extra services: Mobile wallet, Lending and the Margin Trading Bitpanda provides the same number of services as Binance: it allows us to purchase and sell digital currencies, and besides that: Payments for Utility Bills and the Precious Metals Trading / Investments.
- Binance supports 31 cryptocurrencies Bitpanda allows to exchange 1 cryptos (Bitpanda supports 30 cryptocurrencies less).
- Binance doesn't have any fiat currencies supported You'll be able to use 2 fiat currencies to swap with digital ones at Bitpanda (Bitpanda supports 2 fiat currencies more).
- Binance doesn't allow any fiat payments Bitpanda allows the user to utilize 11 various fiat payment systems and/or banks (Bitpanda supports 11 fiat payment systems and banks more).
- Binance charges 0.0% fee Bitpanda charges the client 1.29% — 5.09% fee, depending on the currency, payment system, etc. (Bitpanda has higher fees, generally).
- Binance allows registrations from 255 countries; United States is among the supported ones You may register at Bitpanda if you reside in one of 46 countries; unfortunately, United States is not among the supported ones (Bitpanda supports less countries).
- During the account verification Binance usually asks for 1 document / procedure: (selfie) User identification at Bitpanda usually consists of 3 different procedures: id verification, a bank account verification, additional information upon compliance staff decision (Bitpanda 's compliance program requires the client to take more actions or to provide more data).
- Our users left 17 testimonials about Binance, 94% of which are positive We've collected 2 users testimonials about Bitpanda, 100% are positive (Bitpanda has better testimonials from the clients
Although the final decision, which exchange — Binance or Bitpanda — is better is up to you, we'll try to help you with the decision. Both exchanges are great, since at least one of them is not yet rated at our platform, we recommend you to look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
Bitpanda vs BitBay
Let's compare the key features of these two platforms to see which one suits you best:
- BitBay is a trading platform Bitpanda is a trading platform, both are using the same business model.
- BitBay had started the business March 2014 Bitpanda started the business June 2014 (BitBay is working for 2 months longer time).
- BitBay has all the required business licenses and permissions Bitpanda has all the required business licenses and permissions (both exchange services operate using the same approach to the business, utilizing a same legal model).
- Besides buying, selling and exchanging cryptocurrencies, BitBay provides the following extra services: Merchant Services, OTC trading and the Fiat to Fiat Currencies Trading & Exchange Bitpanda provides us with less services, related to the crypto exchange: it allows us to purchase and sell digital currencies, and besides that: Payments for Utility Bills and the Precious Metals Trading / Investments.
- BitBay supports 15 cryptocurrencies Bitpanda allows to exchange 1 cryptos (Bitpanda supports 14 cryptocurrencies less).
- 4 fiat currencies are available at BitBay You'll be able to use 2 fiat currencies to swap with digital ones at Bitpanda (Bitpanda supports 2 fiat currencies less).
- BitBay accepts deposits from and allows withdrawals to 5 fiat payment systems / banks Bitpanda allows the user to utilize 11 various fiat payment systems and/or banks (Bitpanda supports 6 fiat payment systems and banks more).
- BitBay charges 0.25% — 2.0% fee Bitpanda charges the client 1.29% — 5.09% fee, depending on the currency, payment system, etc. (Bitpanda has higher fees, generally).
- BitBay allows registrations from 254 countries; we are sorry, but United States is not supported this time You may register at Bitpanda if you reside in one of 46 countries; unfortunately, United States is not among the supported ones (Bitpanda supports less countries).
- During the account verification BitBay usually asks for 2 documents and/or procedures: (id verification, phone confirmation) User identification at Bitpanda usually consists of 3 different procedures: id verification, a bank account verification, additional information upon compliance staff decision (Bitpanda 's compliance program requires the client to take more actions or to provide more data).
Although the final decision, which exchange — BitBay or Bitpanda — is better is up to you, we'll try to help you with the decision. Both exchanges are great, since at least one of them is not yet rated at our platform, we recommend you to look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
Bitpanda vs CEX
Let's compare the key features of these two platforms to see which one suits you best:
- CEX is a trading platform Bitpanda is a trading platform, both are using the same business model.
- CEX had started the business July 2014 Bitpanda started the business June 2014 (Bitpanda operates 1 months longer).
- CEX has all the required business licenses and permissions Bitpanda has all the required business licenses and permissions (both exchange services operate using the same approach to the business, utilizing a same legal model).
- Besides buying, selling and exchanging cryptocurrencies, CEX provides the following extra services: Margin Trading Bitpanda provides the same number of services as CEX: it allows us to purchase and sell digital currencies, and besides that: Payments for Utility Bills and the Precious Metals Trading / Investments.
- CEX supports 15 cryptocurrencies Bitpanda allows to exchange 1 cryptos (Bitpanda supports 14 cryptocurrencies less).
- 4 fiat currencies are available at CEX You'll be able to use 2 fiat currencies to swap with digital ones at Bitpanda (Bitpanda supports 2 fiat currencies less).
- CEX accepts deposits from and allows withdrawals to 4 fiat payment systems / banks Bitpanda allows the user to utilize 11 various fiat payment systems and/or banks (Bitpanda supports 7 fiat payment systems and banks more).
- CEX charges 1.0% — 5.0% fee Bitpanda charges the client 1.29% — 5.09% fee, depending on the currency, payment system, etc. (Bitpanda has higher fees, generally).
- CEX allows registrations from 224 countries; United States is among the supported ones You may register at Bitpanda if you reside in one of 46 countries; unfortunately, United States is not among the supported ones (Bitpanda supports less countries).
- During the account verification CEX usually asks for 3 documents and/or procedures: (id verification, phone confirmation, selfie) and it takes a day or two in most of the cases User identification at Bitpanda usually consists of 3 different procedures: id verification, a bank account verification, additional information upon compliance staff decision (Bitpanda 's compliance program requires the client to take more actions or to provide more data).
- Our users left 16 testimonials about CEX, 94% of which are positive We've collected 2 users testimonials about Bitpanda, 100% are positive (Bitpanda has better testimonials from the clients
Although the final decision, which exchange — CEX or Bitpanda — is better is up to you, we'll try to help you with the decision. Both exchanges are great, since at least one of them is not yet rated at our platform, we recommend you to look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
Bitpanda vs CoinFalcon
Let's compare the key features of these two platforms to see which one suits you best:
- CoinFalcon is a trading platform Bitpanda is a trading platform, both are using the same business model.
- CoinFalcon had started the business October 2017 Bitpanda started the business June 2014 (Bitpanda operates 3 years and 4 months longer).
- CoinFalcon is an ordinary company without licenses, etc. Bitpanda has all the required business licenses and permissions (Bitpanda utilizes a safer and more stable business model).
- Besides buying, selling and exchanging cryptocurrencies, CoinFalcon provides no extra services Bitpanda provides more exchange-related services: it allows us to purchase and sell digital currencies, and besides that: Payments for Utility Bills and the Precious Metals Trading / Investments.
- CoinFalcon supports 9 cryptocurrencies Bitpanda allows to exchange 1 cryptos (Bitpanda supports 8 cryptocurrencies less).
- 1 fiat currencies are available at CoinFalcon You'll be able to use 2 fiat currencies to swap with digital ones at Bitpanda (Bitpanda supports 1 fiat currencies more).
- CoinFalcon accepts deposits from and allows withdrawals to 3 fiat payment systems / banks Bitpanda allows the user to utilize 11 various fiat payment systems and/or banks (Bitpanda supports 8 fiat payment systems and banks more).
- CoinFalcon charges 6.0% fee Bitpanda charges the client 1.29% — 5.09% fee, depending on the currency, payment system, etc. (Bitpanda has lower fees in general).
- CoinFalcon gives the gifts to the customers Bitpanda has neither gifts or cashback available (Bitpanda offers less bonuses for the clientele).
- CoinFalcon allows registrations from 252 countries; we are sorry, but United States is not supported this time You may register at Bitpanda if you reside in one of 46 countries; unfortunately, United States is not among the supported ones (Bitpanda supports less countries).
- During the account verification CoinFalcon usually asks for 2 documents and/or procedures: (id verification, additional information upon compliance staff decision) User identification at Bitpanda usually consists of 3 different procedures: id verification, a bank account verification, additional information upon compliance staff decision (Bitpanda 's compliance program requires the client to take more actions or to provide more data).
Although the final decision, which exchange — CoinFalcon or Bitpanda — is better is up to you, we'll try to help you with the decision. Both exchanges are great, since at least one of them is not yet rated at our platform, we recommend you to look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
Bitpanda vs EXMO
Let's compare the key features of these two platforms to see which one suits you best:
- EXMO is a trading platform Bitpanda is a trading platform, both are using the same business model.
- EXMO had started the business May 2013 Bitpanda started the business June 2014 (EXMO is working for 1 years and 1 months longer time).
- EXMO is an ordinary company without licenses, etc. Bitpanda has all the required business licenses and permissions (Bitpanda utilizes a safer and more stable business model).
- Besides buying, selling and exchanging cryptocurrencies, EXMO provides the following extra services: Cash codes and the OTC trading Bitpanda provides us with less services, related to the crypto exchange: it allows us to purchase and sell digital currencies, and besides that: Payments for Utility Bills and the Precious Metals Trading / Investments.
- EXMO supports 24 cryptocurrencies Bitpanda allows to exchange 1 cryptos (Bitpanda supports 23 cryptocurrencies less).
- 6 fiat currencies are available at EXMO You'll be able to use 2 fiat currencies to swap with digital ones at Bitpanda (Bitpanda supports 4 fiat currencies less).
- EXMO accepts deposits from and allows withdrawals to 9 fiat payment systems / banks Bitpanda allows the user to utilize 11 various fiat payment systems and/or banks (Bitpanda supports 2 fiat payment systems and banks more).
- EXMO charges 1.95% — 5.95% fee Bitpanda charges the client 1.29% — 5.09% fee, depending on the currency, payment system, etc. (Bitpanda & EXMO charge the customer with the equal fee level, more or less).
- EXMO allows registrations from 255 countries; United States is among the supported ones You may register at Bitpanda if you reside in one of 46 countries; unfortunately, United States is not among the supported ones (Bitpanda supports less countries).
- During the account verification EXMO usually asks for 3 documents and/or procedures: (id verification, address confirmation, selfie) and it takes a day or two in most of the cases User identification at Bitpanda usually consists of 3 different procedures: id verification, a bank account verification, additional information upon compliance staff decision (Bitpanda 's compliance program requires the client to take more actions or to provide more data).
- Our users left 15 testimonials about EXMO, 93% of which are positive We've collected 2 users testimonials about Bitpanda, 100% are positive (Bitpanda has better testimonials from the clients
Although the final decision, which exchange — EXMO or Bitpanda — is better is up to you, we'll try to help you with the decision. Both exchanges are great, since at least one of them is not yet rated at our platform, we recommend you to look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
Conclusion: is Bitpanda legit or scam?
Now it's time to draw a conclusion, is Bitpanda a scam or is it a legit exchange? We hadn't yet collected enough testimonials to assign Bitpanda a rating, but according to our research it's a good exchange. We have found no evidence that this trading platform is a scam so it should be save to deal with. Let's summarize what we like most (and what we don't) about the Bitpanda:
- It is licensed, regulatory compliant financial company
- The trading platform holds users' funds
- This company has being in the business for a long time; exchange was started 6 years and 1 months ago
- Exchange supports 1 cryptocurrencies and 2 fiat ones (totally 11 payment systems / banks are available). Besides buying, selling and exchanging digital currencies, the following services are available: Payments for Utility Bills and Precious Metals Trading / Investments
- It charges competitive fees: from 1.29% to 5.09% depending on the payment method; although the exchange of smaller amounts is rather inexpensive
- Bitpanda accepts the clients from 46 countries; unfortunately, users from United States are not permitted to use the service
- Clients' testimonials are perfect, 100% (2 out of 2) note their positive experience dealing with Bitpanda.
Bitpanda's profile impresses, to say the least! Without a doubt, it's a great exchange and we can recommend you to get acquainted with the service if you are residing in any of the supported countries. Enjoy!