BitPanda

Bitpanda GmbH is an Austrian start-up company that specialises in selling and buying Bitcoins and other cryptocurrencies. It was founded in October 2014 after a long development phase in coordination with the local authorities. It was born between three university students who were passionate about blockchain technology and cryptocurrency. Bitpanda is formerly known as Coinima.

Bitpanda.com is a fully automated platform: once the payment is confirmed, bitcoins and other cryptocurrencies are automatically sent to the buyers.

Security

It supports a high level of security, as well as a fast transaction process. Either you’re buying or selling, BitPanda does not hold your funds. Instead, it sends it directly to the buyer or seller.

BitPanda has a main disadvantage: if you want your account to be secure and have a higher transaction limit, you need to send the ID form and pass the video chat verification. Besides it has Google two-factor authentication and monitors all login attempts in case if someone tries to access your account.

Fees

The platform does not openly display the fees, alternatively, they are included in the cost of cryptocurrency price when you buy or sell your coins.

Exchange tends to offer a higher exchange rate than on average, because you can buy cryptocurrencies using methods that allow chargeback – like bank cards or Skrill.

In general the fee is 2% more than the market rate, it varies depending on the payment method. Nevertheless, there may be additional fees based on the payment method you have chosen.

You can buy Bitcoin, Ether, Ripple and Litecoin or trade the mentioned cryptocurrencies for Bitcoins. It has a lot of options for trading. It is both an exchange and a cryptocurrency wallet. So you can buy your cryptocurrency through it as well as store your cryptocoins in a wallet.

Payment methods

The payment methods are no available in some specific areas. For international customers, the only payment methods available are Skrill and Neteller. That’s why you should check what payment method you want and then see if you can use it from your region.

BitPanda offers to buy/sell (as of February 2018)

  • Bitcoin
  • Ethereum
  • Dash
  • Litecoin
  • BitcoinCash
  • Ripple

 

Depending on the method you choose, the transaction speed can vary from 10 seconds to 3 days.

Pros

  • Fully automated platform with instant transactions
  • A wide range of payment methods
  • Easy in use
  • Low fees for buying bitcoins with a credit/debit card in Europe
  • Fully automated platform with instant transactions
  • A wide variety of payment options
  • Good for beginners

Cons

  • Fees are not disclosed publicly, just included in price
  • Buying cryptocurrencies is limited to European members

 

This platform is popular in Europe. You can sell your coins from anywhere in the world, but you can buy them through BitPanda only from Europe.

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