Bitpanda Review: The Better European Coinbase Alternative
by Team Cryptoradar
Updated: Mar 18, 2025
In this Bitpanda broker review, we delve into the features and offerings of Bitpanda, a leading crypto neobroker based in Vienna, Austria. With over 300 tradable crypto and 2,600+ digital assets available, Bitpanda has emerged as a prominent player in the European cryptocurrency market. Join us as we explore Bitpanda's history, ease of use, verification process, purchasing procedures, mobile app, payment methods, limits, fees, and overall trustworthiness.
Bitpanda: A Hub for Digital Assets
Founded in 2014 by Eric Demuth, Paul Klanschek, and Christian Trummer, Bitpanda has remained under the stewardship of its original management board. This fintech firm is committed to harnessing the potential of blockchain and cryptocurrencies to revolutionize personal finance in the 21st century. A standout feature of Bitpanda is its user-friendly approach, ensuring a seamless experience for all users.
Bitpanda has already amassed a user base of more than 4 million individuals and employs 500+ dedicated professionals. Notably, the company secured a significant investment of 40+ million Euros from Peter Thiel, co-founder of PayPal, in 2020.
How to Buy Crypto on Bitpanda
A Step-By-Step Guide
Verification Process
Before embarking on your cryptocurrency journey with Bitpanda, you must complete a swift identity verification process to comply with "know-your-customer" regulations. Bitpanda's verification process is efficient, taking just minutes. Enter your personal details, keep your passport handy, and initiate a brief video call with a Bitpanda verification partner.
Dashboard
Once verified, you gain access to Bitpanda's user-friendly dashboard. From here, you can monitor digital asset prices, manage purchases, sales, and swaps, and gain insights into your personal portfolio.
The purchasing process – step by step
Step 1: Select your trade
First, click on “Trade” in the navigation bar. A popup will open. If you want to purchase assets click on “Buy”.
Step 2: Select asset
In the second step, choose the asset you’d like to buy. That could be Bitcoin, Ethereum or another cryptocurrency, index or precious metals asset such as gold or silver.
Step 3: Choose amount
The third step is where you choose the amount you’d like to buy. Here you’ve got two options. Either you enter the amount you’d like to buy in a fiat currency, e.g. 500 Euros, or you select a specific amount of the digital asset you want to buy, e.g. 0.1 BTC.
Another option this screen offers you is to pay the trading premium with BEST. But what does this mean? Well, BEST is Bitpanda’s in-house cryptocurrency that let’s you pay for its services. By paying trading premiums using the BEST cryptocurrency, Bitpanda gives you a discount on the usual trading fees.
After you’ve entered the amount and decided whether or not to pay fees with BEST, click “Go to summary”.
Step 4: Finalize the purchase
In the last step, Bitpanda shows you a purchase summary. Once you’ve checked if the transaction is correct, accept the terms, click “Buy now” - congratulations! You’ve bought digital assets on Bitpanda!
Bitpanda's Native Mobile Apps
Bitpanda offers a convenient mobile app for both iOS and Android users. This app allows you to buy Bitcoin and various cryptocurrencies while on the move, providing flexibility and accessibility to traders.
Payment Methods
Bitpanda accommodates a wide array of payment methods for deposits and withdrawals, with options varying based on your account's verification status and preferred currency.
Accepted fiat currencies include
- Euro (EUR)
- US Dollar (USD)
- Swiss Franc (CHF)
- British Pound Sterling (GBP)
- Turkish Lira (TRY)
Payment methods, among others, include
- SEPA
- GIROPAY/EPS
- iDEAL
- Klarna
- NETELLER
- Skrill
- Visa/Mastercard
Limits and Fees
- Trading Limits: There are no trading limits for verified accounts, enabling unrestricted trading opportunities.
- Fiat Deposit and Withdrawal Limits: For bank transfers, a daily maximum deposit limit of 500,000 EUR is imposed, with a 5,000,000 EUR limit for withdrawals.
- Trading Fees: Bitpanda offers competitive trading fees, with a standard 1.49% trading fee. You may encounter additional payment fees when opting for non-bank transfer methods.
- Crypto Deposit and Withdrawal Fees: Bitpanda charges fees for depositing and withdrawing cryptocurrencies, detailed in the comprehensive fee schedule available on their platform.
BEST - Bitpanda's own Ecosystem Token
Bitpanda's in-house cryptocurrency, BEST, offers users the opportunity to reduce trading fees. BEST provides an enticing avenue for cost-conscious traders.
Can You Trust Bitpanda with Your Money?
Bitpanda is a certified professional trading platform, holding a payment service provider license issued by the Austrian financial market authority (FMA) in accordance with European law (PSD2). The company prioritizes information security through SSL encryption, confirmation emails, session management, cold storage of cryptocurrencies, and two-factor authentication (2FA). Backed by prominent investors and employing over 500+ professionals in Vienna, Austria, Bitpanda is a trusted and legitimate entity.
Our Verdict
A User-Friendly Crypto Platform
Having explored Bitpanda's background, purchasing process, payment options, fees, limits, and trustworthiness, you are now equipped to embark on your cryptocurrency journey. Bitpanda stands out as a user-friendly platform suitable for beginners and intermediate traders. Its intuitive interface ensures a seamless trading experience. Take the plunge and try Bitpanda today, and don't forget to share your experience on Cryptoradar.
