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, 0.0001 BTC for Bitcoin, 0.25 USDT for Tether, 10 MIOTA for IOTA (Show More)
  • Withdrawal Fees
  • Varies, 0.00049910 BTC for Bitcoin, 0.09999940 USDT for Tether, 0.0200008 MIOTA for IOTA (Show More)
  • Trading Fees
  • Varies, in real time (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 cryptocurrency exchange in the EU and it allows users to buy, sell and trade cryptos, using fiat currencies. Originally founded in Vienna, Austria back in 2014,  under the name of Coinimal GmbH, it was later rebranded to Bitpanda becoming the chief broker in the EU to buy or sell top cryptocurrencies like BTC, LTC, ETH.

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

    This review will analyse several aspects to provide you with an all-rounded and detailed overview of the exchange and its services. 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 on offline cold storage which is not connected to the internet. It also offers two-factor authentication to protect users’ accounts from unauthorized access. It also provides DDOS protection and SSL encryption. If you might want to update your email address, phone number or 2FA, the Bitpanda team might contact you personally by phone to verify said changes.

    Bitpanda Exchange

    Since Bitpanda is a brokerage service, it directly supplies the coins to users so they needn’t interact with other traders to exchange cryptocurrencies. For residents of Austria, it offers a special feature called Bitpanda go to service where users can buy coupon codes from post offices. Later, the coupon codes can be redeemed on the exchange to buy any of the listed cryptocurrencies.

    Bitpanda Wallet

    Bitpanda offers an integrated wallet for its members to securely store their digital assets. Even though the 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

    Any individual can create an account on Bitpanda by providing their personal information like name, email, etc. If the account is not verified, then the user can only deposit or send cryptos to other wallets. In order to buy, sell or trade cryptocurrencies, the account must be verified by uploading legal documents.

    How to Sign Up

    Bitpanda Signup Window

    Follow the below steps to create an account:

    • Visit their site and click ‘Sign up‘ found on the right.
    • 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 ‘Create account‘ button.

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

    Congratulations! You have successfully created your account on the Bitpanda exchange.

    How to Log in

    Bitpanda Login Window

    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.

    Now, you will be redirected to your account Dashboard.

    Bitpanda 2FA

    Enabling 2FA Protection

    Bitpanda 2FA

    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
    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.

    Great, your account is now protected with 2FA and it will not be possible to log in or process any transaction without said authentication code.

    Verification Requirements

    Users must verify their identity by uploading relevant documents to buy, sell or trade cryptocurrencies. The documents required to verify the identity vary, depending on the user’s jurisdiction. While all countries accept a passport, you need to find your country in the image below to verify the required documents. Once all the documents are ready, users can choose any of the two providers (IdentityTM, IDNow) to complete their video-based identification.

    Before starting, users should make sure they have the following:

    • Good internet connection with good speed
    • A functioning Webcam or smartphone camera
    • A Photo ID

    Bitpanda Verification Documents

    Once completed successfully, users must make a verification deposit of an amount between 25 and 2500 EUR using SEPA, SOFORT, GIROPAY or EPS. Then the limits will be increased based on the payment method.

    How to Deposit Funds

    With Bitpanda, users can deposit 4 different fiat currencies (EUR, USD, GBP & CHF) and 20+ cryptocurrencies. Follow the below steps to deposit funds.

    Depositing Fiat Currency

    Bitpanda allows users to deposit any of the fiat currencies namely EUR, GBP, USD, and CHF. For other fiat currencies extra charges might apply. The below example demonstrates how to deposit EUR on Bitpanda. Before following this procedure, keep in mind that it is assumed the user would have already verified their account.

    1. Login to your Bitpanda account and click the Deposit button
    2. Select Fiat Wallets tab.
    3. Select the Fiat wallet (eg. EUR) to which you wish to make a deposit.
    4. Select the payment provider.
    5. Then, select the deposit amount and click Go to Summary.
    6. Click Make deposit. Then, you will be redirected to the website of your payment provider. Follow the on-screen instructions to complete the transfer. Depending on your payment provider, you will be required to provide the 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 will 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 account and click the Deposit button.
    2. Select Crypto Wallets tab.
    3. Then, select the wallet of the cryptocurrency (eg. BTC), you need 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. Also, you need to ensure you are using only 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 payment method like a credit card, bank transfer or exchanging other cryptocurrencies. In order to buy cryptos, users must first verify their account.

    How to Buy Bitcoin (BTC)

    Follow the below steps to buy BTC from Bitpanda. It is assumed that the user would have already deposited the particular fiat currency on Bitpanda.

    1. Log in to your account and click Trade.
    2. Click Buy and select the cryptocurrency (BTC)
    3. Next, 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 Buy now to place your order.

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

    How to Buy Ethereum (ETH)

    Instead of using fiat currency, the user can also swap one cryptocurrency to another. Follow the below steps to buy ETH using BTC. It is assumed you would have already deposited BTC in your account.

    1. Login to your account and select Wallets.
    2. Choose the cryptocurrency wallet (BTC) from which you wish to swap and click the Swap button.
    3. Next, select the crypto (eg. ETH) to which you want to swap 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, with the exception of selecting ETC rather than BTC in Step 2.

    How to Buy Litecoin (LTC)

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

    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

    First, users must sell the cryptocurrency and withdraw the equivalent fiat currency to their payment provider.

    1. Log in to your 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. Next, click Wallets under your dashboard.
    6. Select the fiat wallet and click Withdraw.
    7. Select the payout account and follow the on-screen instructions to place the withdrawal request. Then, check your inbox and click the Confirm transaction button to authorize the transaction.Bitpanda Sell BTC Image 2

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

    Supported Cryptocurrencies

    Even though Bitpanda doesn’t list 100+ altcoins or all of the ERC20 tokens on its platform, it allows users to buy, sell or trade the top cryptocurrencies which are given 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).

    Supported Cryptocurrencies on Bitpanda

    Supported Countries

    Since Bitpanda is based out of 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, 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

    Bitpanda Trading Screen

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

    Transaction Costs

    Deposit/Withdrawal Fees

    The Bitpanda website has not stated 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, the deposit will be free, if the amount is greater than the minimum deposit amount. However, the withdrawals always come with a fee, depending on the type of the cryptocurrency and amount of withdrawal.


    The deposit/withdrawal limits depend on two factors: Account (Verified/Unverified) 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:

    Limits in Euro

    For the USD currency:

    Limits in USD

    For the GBP currency:

    Limits in GBP

    Supported Payment Methods

    Bitpanda offers a range of payment methods depend on the currency in question. Said methods include the following:

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

    To understand which payment methods apply to which currency, you scroll up to the above screenshots.


    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

    Help Section Image 2


    Currently, the mobile app is available only for Android, which can be downloaded from here.

    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 less fee 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 cryptos, after verifying the account. Coinbase, on the other hand, supports users from the US.

    Bitpanda vs. Bitfinex

    Bitfinex allows users to trade cryptocurrencies without verification whereas Bitpanda requires users to submit documents to buy, sell or trade cryptos. 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 good 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, CCF)
    • Multiple Fiat payment options
    • Transparent Fee schedule


    • Supports only a limited number of cryptocurrencies
    • No advanced trading options

    Similar Platform Reviews


    As one of the world's largest Bitcoin broker, Coinbase has built itself quite the reputation within the cryptocurrency market. It's available in most countries worldwide, including the US & UK. Security is second to none and its reputation is a force to be reckoned with.

    Rating 5/5
    Full Review

    As a UK based broker, Indacoin is an excellent choice for a novice trader to get involved in crypto as it requires no account registration and supports crypto purchases via a credit/debit card.

    Rating 3.5/5
    Full Review
    cex-promotion etoro-promotion