Bitpanda makes buying and selling cryptocurrency quick and easy through a credit card, bank transfer and several payment options.
Bitpanda is an Austria-based exchange that allows users to buy and sell cryptocurrencies as well as other assets - including equities, commodities and ETFs.
The exchange’s beginner-friendly user interface, its competitive fee schedule and the fact that it supports four major fiat currencies help the exchange to achieve its goal of making investment accessible to everyone.
On the downside, since January 2020, Bitpanda has required that all of its users go through the Know Your Customer (KYC) process and has made its services available to only European residents.
| Product Name | Bitpanda Cryptocurrency Exchange |
| Fiat Currencies | EUR, GBP, CHF, USD |
| Cryptocurrencies | BTC, ETH, BNB, USDT, SOL, ADA, XRP, DOT, USDC, DOGE & 70+ more |
| Deposit Methods |
Cash Credit card Cryptocurrency Debit card Neteller Bank transfer (SEPA) SOFORT |
| Trading Fee | Fees vary |
| Deposit Fees |
Cryptocurrency: None if your deposit is larger than the minimum required for no fee; fees vary if your deposit is less than the minimum; blockchain fees may apply Bank transfer: None; bank fees may apply Debit card transfer: 1.5-1.8% Credit card: 1.5-1.8% |
| Withdrawal Fees |
Cryptocurrency: None if your withdrawal is larger than the minimum required for no fee; fees vary if your withdrawal is less than the minimum; blockchain fees may apply Bank transfer: None; bank fees may apply |
Finder Score
★★★★★Bitpanda was founded in 2014 in Vienna, Austria.
The goal of the company was to make investment accessible to everyone.
The company currently has 730 employees and 3.5 million users, and it’s one of the fastest growing fintech firms in Europe.
Bitpanda supports over 82 cryptocurrencies, but some notable assets are missing. Namely, BNB, Lido Staked Ether and Toncoin, which are in the top 20 cryptos by market cap. In total, 14 of the top 20 cryptos are available on Bitpanda.
Popular assets on Bitpanda| Transaction type | Fee |
|---|---|
| Deposit funds | Cryptocurrency: None if your deposit is larger than the minimum required for no fee; fees vary if your deposit is less than the minimum; blockchain fees may apply Bank transfer: None; bank fees may apply Debit card transfer: 1.5-1.8% Credit card: 1.5-1.8% |
| Withdraw funds | Cryptocurrency: None if your withdrawal is larger than the minimum required for no fee; fees vary if your withdrawal is less than the minimum; blockchain fees may apply Bank transfer: None; bank fees may apply |
Before you can even get started trading on Bitpanda, you have to go through the rigorous verification process (which usually involves providing proof of identification). This can take time. The reason for this is Bitpanda's commitment to certifications and compliance with regulations and insurers.
Bitpanda boasts an immaculate security history, with no recordings of breaches or hacks. The exchange is regulated in Austria.
Past hacks. Bitpanda has never reported having been hacked.
Security audits. Bitpanda is regularly audited by third parties, and its security is one of its unique selling points. It has undergone financial audits by KPMG. While KPMG audits its financials, there have been no audits of the exchange’s security itself.
Insurance. Bitpanda offers no insurance for its users.
All centralised exchanges, including Bitpanda, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 1,000+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $149 |
Price (USD) $49.99 |
See more of the best crypto wallets
Bitpanda’s customer service is standard, and with regards to other cryptocurrency exchanges, does not excel nor is it below average. The company does offer a very extensive help desk, with a wide variety of categories that cover nearly all issues that a customer might have.
However, there are no phone support or live chat options. You can access a contact form via Bitpanda’s website, but will likely be waiting over 6 hours for a response. If you need an answer quickly, it’s probably best to head to community social media channels such as Reddit, Twitter or Telegram.
Frank Finder
Writer
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Jhezelyn Finder
February 18, 2019
Hello Peter,
Thank you for your comment.
There are some cryptocurrencies that can be bought using prepaid cards. A prepaid card is very different from a bank account debit card. You are spending money you loaded onto the prepaid card in advance. With prepaid cards, you are allowed to purchase crypto without providing proof of ID, however, they aren’t widely accepted, and it’s a time-consuming way to buy crypto. You must also watch out for high fees.
You can use a prepaid card to trade on a platform that doesn’t require proof of ID. You can compare exchanges that do not require ID verification. You may click Go to Site button or View Details to see more information about the exchange.
As per the Bitpanda website, they do not indicate that the prepaid card is not one of their payment options. You can freely choose between SOFORT-Transfer, Visa / MasterCard, NETELLER, Skrill, GIROPAY / EPS, Amazon.de Voucher, Euro Wallet, and Bank Transfer.
You are advised to kindly get in touch with Bitpanda directly to verify if a Mastercard prepaid card is acceptable.
Regards,
Jhezelyn
Peter
February 17, 2019
I have a prepaid MasterCard. I loaded the card from my personal bank account. Can I buy cryptocurrencies with this card? How fast do I get them into my BitPanda account?