Known as “Coinimal” during its very early days, Bitpanda evolved into a profitable cryptocurrency broker, adopting a new name to solidify its reputation. Situated in Vienna, Austria, it claims to be the most popular broker within the European market. Bitpanda is known as one of the most trusted online platforms for digital-cash exchange worldwide. In their portal, users can buy and transact all of the biggest known crypto-coins including Bitcoin, Ethereum, Ripple, Tether, and more. Founded in 2014, Bitpanda has grown steadily, reaching over two million registered users to date.
The platform offers the following:
This option allows users to buy coupon codes from post offices within Austria, then browse through their website to claim the equivalent values designated by those coupons.
This allows members to swap one form of cryptocurrency for another. Bitpanda supports the biggest cryptocurrencies, making such swaps easy.
Advanced traders are offered real-time data feeds with charts of market directions. Pro also facilitates the convenient use of order books and Application Program Interface features. This option provides a full trading experience.
This option offers a quick transfer of earnings from a digital wallet to a bank account. Additionally, it also allows users to make direct purchases of crypto coins. While other platforms may require users to transfer money from their bank to their digital wallets, Bitpanda removes the intermediary step and allows users to transfer directly.
The following are the available options to pay for Bitpanda investments:
MasterCard, Visa, Sofort, EPS, Giropay, Neteller, Skrill, and SEPA.
To withdraw Bitpanda earnings, the same options in the payment method section apply. There are essentially two primary withdrawal sources to choose from: digital wallets or bank accounts. If choosing the latter, know that Bitpanda is an Austrian-based company and some of their national holidays may affect the processing speed.
Users are offered three account types, each with a differing amount users can spend or earn.
Bitpanda offers the cheapest options to buy crypto-coins within Europe, charging only a 1.49% flat fee for any purchase, whether via bank or credit card.
The following options are possible alternatives to Bitpanda:
With headquarters situated in San Francisco, California, Coinbase is known as the largest US-based cryptocurrency exchange by trading volume and visitor traffic.
Binance was the largest cryptocurrency exchange in the world based on daily visitors and trading volume. Binance also lists the largest number of tokens and as of 2021 its Binance Coin (BNB) is a Top 10 cryptocurrency in the world.
Unlike most crypto-trading platforms, Localbitcoins takes advantage of advertising and allows users to make a profit from it. The platform is also known for its “over-the-counter method” of processing Bitcoin transactions.
Available in 48 states in the US, as well as in 176 countries, Kraken is one of the most global crypto-platforms. The platform offers a total of 40 cryptocurrencies.
Bitpanda is a champion for crypto beginners. Beginners can opt to only engage in the act of swapping and exchanging currencies without worry over charts, indicators, and analysis required for more advanced users.
Furthermore, the values and prices offered are very competitive, reasonable, and affordable, even for beginners.
99bitcoins.com, one of the most trusted authorities in cryptocurrency analysis, rated Bitpanda with 4.5 out of 5 stars, an excellent rating for both experienced and newbie traders. Trustpilot.com, also a well-known reviewing site, gave a 4-star score. The 2016 Startup Awards gave Bitpanda an award for being one of the best startup businesses in the last decade.
With such recognition, the platform has truly lived up to its name. The only downside of note is the somewhat slow verification process, according to some user reviews.
Overall, Bitpanda is an ideal platform for beginners. For more advanced traders, this may not be the best choice, mainly due to its emphasis on bringing novice crypto-investors into the field of digital cash trading. Those wishing to push the boundaries of trading to a higher level as experienced traders might find that this is not the right place for them.
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