Available Countries
  • UK, Europe (Show More)
  • Deposit Methods
  • Credit Card, Debit Card, Bank Transfer, Cryptocurrency (Show More)
  • Supported Currencies
    Exchange Type
  • Centralized Exchange (CEX)
  • Supports
  • FIAT to Crypto, Crypto to FIAT, Crypto to Crypto
Margin Trading
  • No
  • Built In Wallet
  • Yes
  • Compensation Scheme
  • No
  • Regulated
  • No
  • Minimum Deposit
  • €25 or $25 minimum deposits & withdrawals. Varies for cryptocurrencies (0.001BTC for Bitcoin)
  • Deposit Fees
  • Varies, EUR/USD/GBP deposit via card 1.5%, bank transfer free (Show More)
  • Withdrawal Fees
  • Varies, 0.00009 BTC for Bitcoin, 0.19999880 USDT for Tether (Show More)
  • Trading Fees
  • Varies, BTC buy @ 1.49%, sell @ 1.29% (Show More)
  • Limits
  • Varies, depending on verification, currency and payment method. Verified users daily deposit limit of €10,000 and €100,000 withdrawal (Show More)
  • Verification
  • KYC Verification (Show More)
  • Jump to page contents

    Bitpanda Exchange Review

    Bitpanda is a trustworthy exchange based within the EU, which lets users buy, sell, and trade cryptocurrencies using fiat currencies and digital tokens. Originally established back in 2014,  under the name of Coinimal GmbH, it was later rebranded to Bitpanda. Today, it remains based in Vienna, Austria and has become the chief cryptocurrency broker in the EU for buying or selling top cryptocurrencies like BTC, LTC, ETH.

    Bitpanda - Landing Page
    Screenshots are shown for illustration purposes only. Actual product may vary.

    Even though Bitpanda is not compliant with any regulatory standard or organisation, it is a reputable exchange, as it has gained the trust of almost one million users worldwide.

    This Bitpanda review will analyse the main aspects of the exchange to provide you with an all-rounded and detailed overview. Although Cryptimi does its best to provide accurate and relevant information, we strongly recommend that you to visit their site, in case of any updates which might occur after the time of writing.

    Is Bitpanda Exchange Safe?

    To provide better security for users’ digital assets, Bitpanda stores them in offline cold storage devices which are not connected to the Internet. It also offers two-factor authentication (2FA) to protect users’ accounts from unauthorized access. In fact, should you need to update your email address, phone number or 2FA, the Bitpanda team might contact you personally by phone to verify said changes. Other security measures in place include DDOS protection and SSL encryption.

    Bitpanda Exchange

    Since Bitpanda is a brokerage service, it directly supplies the coins to users so you don’t need to interact with other traders to trade cryptocurrencies. Over the years, the exchange has developed substantially, and today offers a suite of services, including:

    • Bitpanda To Go – Exclusively available to residents of Austria, this service allows users to buy cryptocurrency using cash. All residents need to do is visit local post offices, buy coupon codes and enter code when prompted, during the online transaction.
    • Bitpanda Savings – Gives users the opportunity to open a cryptocurrency savings account. Every month, users deposit a set value, which is then exchanged into Bitcoin or Altcoins.
    • Bitpanda Metals – Allows users to exchange digital assets for gold and silver, whilst also diversifying investment portfolios with insured precious metals.
    • Bitpanda Swap – Lets you instantly swap one cryptocurrency for another, without limits.
    • Bitpanda Plus – A platform dedicated to high net worth investors, providing them with superior terms and benefits.

    Bitpanda Wallet

    Bitpanda offers an integrated, multi-currency wallet for its members to securely store their digital assets. Even though it has not been involved in any kind of hacks to date, it is highly recommended to use hardware wallets like Trezor or Ledger to store a large number of cryptocurrencies. The integrated web wallet is good to store a small number of cryptocurrencies.

    Bitpanda Exchange Account

    As an individual, you can create an account on Bitpanda by providing your personal information, such as your name, email, etc. If the account is not verified, you’ll only be allowed to deposit or send cryptocurrencies to other wallets. In order to buy, sell or trade cryptocurrencies, the account must first be verified by uploading legal documents.

    How to Sign Up

    Bitpanda Signup Window
    Screenshots are shown for illustration purposes only. Actual product may vary.

    Follow the below steps to create an account:

    • Visit their site and click on the ‘Get Started’ button found at the top right-hand corner of the page.
    • Enter your first name, surname, email, and a strong password.
    • Then, select your country of residence from the drop-down box.
    • Agree to the T&Cs and Privacy Policy after reading them.
    • Click on the  ‘Create account’ button.

    You should then receive a confirmation email from Bitpanda. Click the link on that email to activate your account.

    How to Log in

    Bitpanda Login
    Screenshots are shown for illustration purposes only. Actual product may vary.

    To log in, follow the below steps:

    1. Visit their site and click the ‘Log in’ button.
    2. Enter your email address, password, and log in.

    You will be redirected to your account dashboard.

    Bitpanda Account Dashboard
    Screenshots are shown for illustration purposes only. Actual product may vary.

    Enabling 2FA Protection

    Bitpanda 2FA
    Screenshots are shown for illustration purposes only. Actual product may vary.

    To protect your account from unauthorized access, you need to enable two-factor authentication. You can set up 2FA protection for your account via Google Authenticator, Authy, or other apps. Follow the below procedure to enable 2FA protection for your account:

    1. Click ‘Enable Two Factor Authentication (2FA)’ on the right.
    2. Select the ‘Set up’ button, enter your password and click the ‘Continue’ button.
    3. Take note of the recovery code displayed on the screen. This code is needed to connect new devices to your Bitpanda account.

      Bitpanda Recovery Code
      Screenshots are shown for illustration purposes only. Actual product may vary.
    4. Click ‘Continue’.
    5. Scan the QR code displayed on the screen from your desired authenticator phone app.
    6. Get the 6-digit code from the app and enter the same on the provided box.

    Your account is now protected with 2FA and it will not be possible to log in or process any transaction without the single-use authentication code.

    Verification Requirements

    To verify their identity you need to upload identification documents. Doing this will allow you to buy, sell or trade cryptocurrencies on Bitpanda. The documents required vary depending on your country of residence as per the graphic further down in this Bitpanda review. Once all documents are ready, you can choose any of the two providers (IdentityTM, IDNow) to complete a video-based identification.

    Before starting, you should make sure to have the following:

    • Good internet connection with good speed
    • A functioning webcam or smartphone camera
    • A Photo ID
    Bitpanda Verification Documents
    Screenshots are shown for illustration purposes only. Actual product may vary.

    Once completed successfully, you need to make a verification deposit of an amount between €25 and €2,500 using SEPA, SOFORT, GIROPAY or EPS. Then the limits will be increased based on the payment method.

    Apart from the full verification option, Bitpanda lets users from a restricted number of countries sign up with a light verification alternative. The similar procedure replaces the video call with a simple document upload, however, user limits are significantly reduced.

    How to Deposit Funds

    With Bitpanda, users can deposit 4 different fiat currencies (EUR, USD, GBP & CHF) and 20+ cryptocurrencies.

    Depositing Fiat Currency

    The below example shows you how to deposit EUR on Bitpanda. Before following this procedure, you must have verified your account.

    1. Log into your Bitpanda account and click on the ‘Deposit’ button.
    2. Select the ‘Fiat Wallets’ tab.
    3. Select the Fiat wallet (eg. EUR) to which you wish to make a deposit and your payment provider.
    4. Select the deposit amount and click on ‘Go to Summary’.
    5. Click on the ‘Make deposit’ button. You should be redirected to the website of your payment provider. Follow the on-screen instructions to complete the transfer. Depending on your payment provider, you might be required to provide an authentication code received via SMS or a phone call, to authorize the transaction.

    Once your transaction has been processed by the payment provider, the funds should be credited in your Bitpanda wallet.

    Depositing Coins

    Depositing cryptocurrency on Bitpanda is simple, as there is no need for users to verify their account. In this example, let’s see how to deposit BTC on Bitpanda.

    1. Log in to your Bitpanda account and click on the ‘Deposit’ button.
    2. Select the ‘Crypto Wallets’ tab.
    3. Select the wallet of the cryptocurrency (eg. BTC) which you intend to deposit.
    4. The deposit address and the corresponding QR code of the cryptocurrency will be displayed on the screen. You can either copy the address or scan the QR code to share the address to the sender.

    Before starting to make the deposit, make sure that the deposit amount is greater than or equal to the minimum deposit amount. You also need to ensure that you have selected the right wallet to deposit coins. For example, you cannot deposit ETH on a BTC wallet.

    How to Buy Digital Currency On Bitpanda

    Bitpanda allows users to buy cryptocurrencies by using a fiat currencies method, such as a credit card, eWallet or bank transfer. In order to buy digital tokens, users must first verify their account.

    How to Buy Bitcoin (BTC)

    Follow the below steps to buy BTC from Bitpanda.

    1. Log into your Bitpanda account and click on ‘Trade’.
    2. Click on ‘Buy’ and select the cryptocurrency (BTC).
    3. Select the fiat wallet and the amount of crypto you would like to buy.
    4. After going through the summary displayed on the screen, click on ‘Buy now’ to place your order.

    Once your transaction has been processed, the Bitcoin will be credited to your BTC wallet.

    How to Buy Ethereum (ETH)

    Instead of using fiat currency to purchase Bitcoin or Altcoins you can swap one cryptocurrency for another. The below steps guide you to buy ETH using BTC.

    1. Log into your Bitpanda account and select ‘Wallets’.
    2. Choose the cryptocurrency wallet (BTC) from which you wish to swap and click on the ‘Swap’ button.
    3. Select the desired cryptocurrency (eg. ETH) which you want to swap with, and enter the amount.
    4. Click ‘Swap now’.

    Once the transaction gets completed, ETH will be credited to the corresponding wallet.

    How to Buy Ethereum Classic (ETC)

    Repeat all the steps mentioned in the How to Buy Bitcoin section of this Bitpanda review, with the exception of selecting ETC rather than BTC in Step 2.

    How to Buy Litecoin (LTC)

    Just like in previous chapters of this Bitpanda review, all you need to do is follow the instructions in the How to Buy Bitcoin section, replacing BTC with LTC.

    How to Buy Bitcoin Cash (BCH)

    Repeat all the steps mentioned in the How to Buy Ethereum section, with the exception of selecting BCH rather than ETC in Step 3.

    How to Cash Out on Bitpanda

    Bitpanda Sell BTC Image 1
    Screenshots are shown for illustration purposes only. Actual product may vary.

    First, you need to sell the cryptocurrency and withdraw the equivalent fiat currency to your payment provider. These steps will help you accomplish this:

    1. Log in to your Bitpanda account and click ‘Trade’.
    2. Click ‘Sell’ and select the cryptocurrency you would like to sell.
    3. Select the fiat wallet and enter the amount.
    4. Click ‘Sell now’ and follow the on-screen instructions to complete the transaction.
    5. Click ‘Wallets’ on your dashboard and select the fiat wallet.
    6. Click ‘Withdraw’.
    7. Select the payout account and follow the on-screen instructions to place the withdrawal request. Check your inbox and click the ‘Confirm transaction’ button to authorize the transaction.

      Bitpanda Sell BTC Image 2
      Screenshots are shown for illustration purposes only. Actual product may vary.

    Congratulations! Your funds should have been successfully withdrawn to your payment account.

    Supported Cryptocurrencies

    Even though Bitpanda doesn’t list hundreds of Altcoins or all of the ERC20 tokens on its platform, it allows users to buy, sell or trade the top cryptocurrencies, including the below:

    Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ethereum Classic (ETC), Tether (USDT), Dash (DASH), Ripple (XRP), Bitcoin Cash (BCH), IOTA (MIOTA), EOS (EOS), Stellar (XLM), 0x (ZRX), Tron (TRX), Zcash (ZEC).


    Bitpanda Supported Cryptocurrencies
    Screenshots are shown for illustration purposes only. Actual product may vary.

    Supported Countries

    Since Bitpanda is based in Austria, it accepts users from all the 28 countries within the EU.


    Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Iceland, Italy, Ireland, Hungary, Latvia, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, United Kingdom of Great Britain and Northern Ireland.


    Currently, Bitpanda is not available to the residents or citizens of the US and verification from Australian citizens is also not supported.

    Exchange Fees & Limits

    Every cryptocurrency exchange will have its own fee structure and limits, and Bitpanda is no exception.

    Trading Fees

    As the trading fee is also included in the real-time price of the cryptocurrencies, it will be invisible to users. However, based on the information given on Bitpanda’s official website, the fees to buy and sell cryptocurrencies are 1.49% and 1.29% respectively.

    Bitpanda Transaction Costs
    Screenshots are shown for illustration purposes only. Actual product may vary.

    Deposit/Withdrawal Fees

    Bitpanda itself does not charge any fee to deposit/withdraw funds using fiat payment methods. However, your bank or card provider might deduct a transaction fee or an exchange rate fee, if the deposit is made using a currency other than EUR, GBP, USD, and CHF.

    For cryptocurrencies, deposits are free, if the amount is greater than the minimum deposit amount. However, withdrawals always come with a fee, depending on the type of cryptocurrency and amount of withdrawal.


    The deposit/withdrawal limits depend on two factors: Account (Light Verification/Verification) and Currency type. For fiat-based deposits/withdrawals, it offers three types of limits (Daily/Monthly/Total) which depend on the fiat currency. For more information about the exact fee and limits check out the below lists, depending on currency type:

    For the Euro currency:

    Bitpanda Limits
    Screenshots are shown for illustration purposes only. Actual product may vary.

    Similar limits exist for other fiat currencies, namely USD, GBP, and CHF. Verified accounts benefit from one of the highest limits in the industry.

    Supported Payment Methods

    Bitpanda offers a range of convenient payment methods depending on your currency. These include the following:

    • Bank Transfer (SEPA)
    • Credit and debit card (VISA/Mastercard)
    • Zimpler
    • Skrill
    • Neteller
    • Giropay
    • Sofort
    • EPS
    • Cash (Bitpanda To Go)


    Even though Bitpanda doesn’t provide advanced security features, it offers basic features like 2FA. Users can protect their account by configuring 2FA via Google Authenticator, Authy or any of their desired authenticator app. Whenever a login attempt is made from a new device, it will be allowed only if the user authorizes the device by providing confirmation via email. Otherwise, the login will not be permitted.

    Customer Support

    Bitpanda exchange provides 24/7 support to its customers. For general inquiries, users may refer to the articles on the ‘Knowledge’ base section (after clicking on the ‘Help’ section). If a user experiences any issues with the account and/or transaction, they can contact the support team by clicking on the ‘Help’ button on the site’s landing page, and then creating and submitting a request, as shown in the images hereunder:

    Help Section - Image 1
    Screenshots are shown for illustration purposes only. Actual product may vary.
    Help Section - Image 2
    Screenshots are shown for illustration purposes only. Actual product may vary.


    Currently, the mobile app is available only for Android and iOS users. Featuring the same tools and options of the web version, Bitpanda mobile is a convenient way to manage your cryptocurrencies on the go.

    Coming Soon Features

    Bitpanda is tight-lipped about any upcoming features, however, you can be among the first to know of any news by visiting the Bitpanda Magazine. You should also become a fan of their social media pages, as any new features will definitely be communicated through these channels.

    Top Competitors

    Bitpanda vs. Coinbase

    While both exchanges allow users to buy cryptos using fiat currencies, Bitpanda supports more fiat payment options than Coinbase. Bitpanda deducts fewer fees for withdrawal when compared to Coinbase. Regarding the security, both Bitpanda and Coinbase offers 2FA and IP pinning. Both exchanges allow users to buy, sell or trade cryptocurrencies, after verifying the account. Coinbase, on the other hand, supports users from the US and offers a compensation scheme.

    Bitpanda vs. Bitfinex

    Bitfinex allows users to trade cryptocurrencies without verification whereas Bitpanda requires users to submit documents. Both exchanges support fiat-based deposit/withdrawal options. Bitfinex provides advanced trading options and supports several more cryptocurrencies than Bitpanda. Both provide security features like 2FA, withdrawal protection and IP monitoring.

    Bitpanda Review Conclusion

    The best thing about Bitpanda is that it supports a wide range of payment methods using 4 different fiat currencies, to quickly buy or sell cryptocurrencies. It offers basic security features like 2FA and IP Pinning to protect the user’s account from unauthorized access. Even though it doesn’t support advanced trading methods like margin trading, it is still a good option for novice traders.

    Rating Score


    • Supports 4 fiat currencies (EUR, GBP, USD, CHF)
    • Multiple fiat payment options
    • Transparent fee schedule
    • User-friendly interface
    • Helpful resources, including education


    • Only supports a limited number of cryptocurrencies
    • No advanced trading options
    • Users restricted to European nations

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