Bitpanda

 

 

Every process from buying a cryptocurrency to selling it will be easy thanks to new steps of BitPanda enabling the users to use credit/debit cards and transfers.

Why BitPanda is one of the most secure and popular platforms in the E.U is because the company is in Austuria and providing lots of different ways to traders, investors.

BitPanda started to operate as Coinimal in October 2014, and gave services that are for better selling ways but, the only one able to buy it is European members. We suggest traders paying attention to the development process on the website. So this way, they will learn what can happen next.

What is exactly BitPanda?

BitPanda was really designed on a right way in order to provide buying and selling methods to people who would like to use cryptocurrency platforms. It should be as soon as possible since everyone needs to save time.

It is a reliable brand that has won an award at the beginning of its creation, October 2016. It reflects its quality that members should care about.

What are this platform’s(BitPanda) real/practical PROS AND CONS?

Pros

Fully automated platform with instant transactions
A wide variety of payment options
Good for beginners

 

Cons

Fees are not disclosed publicly
Buying cryptocurrencies are limited to European members
Not open source
Lack of hierarchical deterministic (HD) and multi-signature protocols raises some anxiety over privacy and security

 

A short look at the history of BitPanda

Austrian company Coinimal GmbH built BitPanda. The city was Vienna and built by being founded in October 2014. It was of course after they thought of its creation for a long time with local officials in the country, which means that it was entirely legal and allowed by the government. Christian Trummer, Eric Demuth, Paul Klanschek are some of its founders.

BitPanda was basically known as Coinimal before it was rebranded.

What cryptocurrencies can I buy/sell securely?

The following coins are possible;

If you are the seller of cryptocurrency, it is critical for you to include some fees to your current sale price because you have to be sure that BitPanda will take it important and proceed it.

If you would like to make transactions with no issue, you need to include some fees into your current sale price, which is because BitPanda won’t accept your transaction if there is no fee. Our suggestion at that point is that you should be sure that you added some fee.

How To Create An Account At BitPanda

Bitpanda login
Bitpanda login

Do you have any e-mail address and password? If you do, you are totally able to create a new account on the platform with no problem in less than 20 seconds, and it includes that the time of waiting for the confirmation e-mail to come to your e-mail.

During processing these things, you will be in two-factor authentication (2FA) as a security step which is really good for the members’ security. You will be asked to confirm your phone number as well. There will be a pin number on your phone that you have to use while accessing the site.

BitPanda has a few different account levels, and they are all unique in themselves. We’ll talk about them later in order to not confuse you. It is required for you to realize that you can buy up to 50 EUR worth of bitcoins daily with nothing more than a verified email address and verified mobile number.

How To Withdraw Bitcoins From BitPanda

You can withdraw bitcoins from your BitPanda wallet at your leisure. All withdrawals are processed in EUR.

It is possible for you to withdraw bitcoin by using your BitPanda wallet. They are connected to each other, and that’s why you can manage to do that. There are lots of payment opportunities, which indicates that everything will be easier for you than it was usually. 

Please have a look at the following ways to pay:

  • SEPA (same day)
  • Amazon.de Voucher Code (up to 30 minutes)
  • NETELLER (10 to 30 minutes)
  • Skrill (10 to 30 minutes)

Fees are dependent on the payout method and included in the transaction price.

In What Countries is BitPanda supported or can BitPanda be used by traders?

BitPanda operates inside Europe and has been supporting countries close to the centre of EU. Its creation story is from three people seeing what kind of problems European people have while making transactions on it. Their goal was to fix that problem. They reached many different ways in order to make the issues of selling and buying it non-existed.

Here are some countries where BitPanda can be accessed and used by traders.

Bitpanda Supported Countries
Bitpanda Supported Countries


  • Austria
  • Belgium
  • Bulgaria
  • Croatia
  • Cyprus
  • Czech Republic
  • Denmark
  • Estonia
  • Finland
  • France
  • Germany
  • Greece
  • Hungary
  • Ireland
  • Italy
  • Latvia
  • Liechtenstein
  • Lithuania
  • Luxembourg
  • Malta
  • Monaco
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Romania
  • Slovakia
  • Slovenia
  • Spain
  • Sweden
  • Switzerland
  • United Kingdom

But despite this problem(According to us, it is a problem, not a preference), we would like to inform that you can sell bitcoins on BitPanda from around the world. If your location is in Europe, you can purchase them at the platform of BitPanda.

It is not hidden information that it doesn’t work in the U.S, Canada, India, Japan and some other countries and regions, which means that you should be careful about where you make transactions. If you are in Europe, there will be no problem.

How fast will my funds be available?

Transfer speeds are totally up to the payment method you are using during transactions. If you purchase bitcoin using SOFORT, Neteller, EPS or an online banking way, your coins will appear in a short time.

SEPA payments usually take one business day in order to complete the transaction.

There is a section there called “History”, which means that members can use it in order to analyze how their progress is.

Are there any transfer limits?

Each BitPanda account has a specific limit placed on transactions. Being similar to the other exchanges, the limit relies upon the verification status you used for security. We can easily say that it is the same for every platform.

Verified email

If your account is accepted because of using e-mail, you can sell up to 1,000EURO per month.

Verified phone number

With this security step, you can buy up to 50 EURO per month.

Verified ID

It is the best way to confirm your account in the platform in order to use it correctly and efficiently. 350Euro and 10.000Euro will be possible to buy and sell per month. Credit card attempts will be rejected.

Can we say that it is indeed safe to use BitPanda?

Bitpanda security
Bitpanda security

BitPanda is with great security protocols, such as 2-factor authentication and ID verification to authorize credit card payments.

What about the better ways? There are more powerful verification steps giving the meaning that the merchant won’t be as private as it is in other platforms. At the same time, a lack of HD capability to decreases BitPanda’s privacy rules.

Customer Support Options At BitPanda

We don’t suggest this approach unless you’ve already submitted a support ticket and haven’t yet gotten it. The reason why we don’t recommend that is because it’s unsure how the company manages emails sent to this address.

When you have problems on your account, making transactions, getting information about something particular, all you have to do is to go to the BitPanda and open a support ticket. But sometimes it is not enough, and at that time, you can use their e-mail =  “office@coinimal.com”

Fee Structure

BitPanda leads to offer exchange rates that are higher than it usually is, which states the reality that you can purchase bitcoins and altcoins and the other coins by using these methods that allow charge back such as credit cards and Skrill. When you are determined to invest some coins with BitPanda¸ you’ll see that the price is with the exchange rate + a minimal fee.

Your fee will range within payment methods since this exchange rate difference isn’t too big, it is normal for such a platform. We are sure that it is possible for you to expect to pay approximately 2% more than the average market exchange rate, though you may pay extra fees based on your payment method (SOFORT and credit cards have a 2% fee, for example, while Skrill’s fee is about 3.8%).

Conclusion

BitPanda is a surprisingly easy cryptocurrency platform that has managed to make it easy for Europeans to purchase and sell some cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Dash. You can start to do that by collecting money by using SEPA, SOFORT, credit cards, or also online Amazon gift cards. Next, please visit the “Buy” or “Sell” page on BitPanda.com and enter the number of bitcoins you want to buy.

BitPanda suggests slightly higher fees than other bitcoin exchanges. But, this is expected when you pay with payment methods that enable chargebacks.

BitPanda leads to giving an exchange rate that’s about 2% higher than the market rate, while specific payment methods are subjected to additional fees between 1 and 4%. All fees are merely described on the sales page.

BitPanda is at the first exchange platform to pay approximately %2 higher than the normal market rates. If you are in need of paying normal fees like %1 and %4, it may not be possible, but despite it, you can reach more information on the sales page. BitPanda.com

Go to BITPANDA

About the author

I am graduated from the faculty of communication. I have worked for major companies in the communication field, and acquire more than 12+ years of experience. I like to read empowering books, traveling and researching useful stuff on the internet. For a few years now, I have cultivated and developed a passion in the cryptocurrency world. I have decided to dedicate my time to create some posts on my blog about cryptocurrencies in general. Cryptocurrency World is growing fastly and will have longevity future however it has just born. I intend to improve myself on blockchain technology and share my knowledge.

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