What is Bitpanda?
Bitpanda is a European-based cryptocurrency exchange and brokerage that allows the buying and selling of cryptocurrencies, commodity metals, and digital assets. It was launched in 2014 in Austria by a group of founders who identified the need to offer a reliable and straightforward platform for retail investors to buy and sell cryptocurrencies with ease. Bitpanda has grown to become one of the leading exchanges in Europe, with users from over 50 countries.
Security
Bitpanda is known for its high-security measures in protecting users' funds and information. It uses a two-factor authentication system, which requires users to confirm their identity through their email or an SMS code before accessing their account and funds. Bitpanda also stores a significant portion of its users' funds in cold storage (offline), minimizing the risk of hacking and theft. The platform is also regulated under the Austrian Financial Markets Authority (FMA), ensuring compliance with the industry's regulatory standards.
Supported Cryptocurrencies
Bitpanda supports a variety of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and Ripple (XRP). Bitpanda also supports several fiat currencies, including the Euro, Swiss Franc (CHF), and British Pound (GBP), enabling users to buy cryptocurrencies using their local currencies.
Buying and Selling on Bitpanda
Users can buy and sell cryptocurrencies on Bitpanda quickly and easily. To buy, users can fund their account using credit/debit cards, bank transfers, or other supported payment methods. Once the funds are available, users can instantly purchase any supported cryptocurrency on the platform. Similarly, selling on Bitpanda is easy; users can sell their cryptocurrencies, and the proceeds are credited to their Bitpanda account in their preferred fiat currency. Users can then withdraw the funds to their bank account or use them to buy other crypto assets.
Bitpanda Fees
Bitpanda charges a fee for each transaction made on its platform, which ranges between 1.49% and 3.6%, depending on the payment method used and the volume of the transaction. Bitpanda also charges a withdrawal fee, which varies depending on the cryptocurrency and the amount being withdrawn.
Bitpanda Plus
Bitpanda Plus is an exclusive service by Bitpanda, available to users with a significant trading volume. Bitpanda Plus offers users reduced trading fees, priority support, and access to exclusive offers and events. Bitpanda Plus also offers users the option to participate in initial exchange offerings (IEOs), enabling them to invest in new and promising blockchain projects.
Conclusion
Bitpanda offers a reliable and secure platform for buying and selling cryptocurrencies. With its wide variety of supported payment methods and easy-to-use interface, Bitpanda is an excellent choice for retail investors and crypto enthusiasts. Its high-security measures, regulatory compliance, and exclusive services such as Bitpanda Plus make it stand out from other exchanges in the market. If you're looking for a trustworthy and user-friendly platform to buy and sell cryptocurrencies, Bitpanda is worth considering.
