BitPanda is a bitcoin broker based in Austria. Its services are catered mostly to Europeans. Here’s our BitPanda review.
What Is BitPanda?
The exchange is based in Vienna, Austria. BitPanda is particularly popular with European bitcoin users, and the platform accepts some of Europe’s most common payment methods – like SOFORT, EPA, and Skrill (along with conventional deposit options like Visa and Mastercard).
In June 2017, BitPanda made headlines for introducing its all-in-one Ether wallet to the platform. The wallet allows users to store ETH and access the funds at any time without leaving BitPanda.
BitPanda was originally known as Coinimal. The developer behind BitPanda continues to operate under the name Coinimal GmbH.
BitPanda advertises the following features:
Buy & Sell Securely
BitPanda lets you buy and sell bitcoin and altcoins securely. The company claims to use “state of the art technology and security standards.”
BitPanda offers strong API applications, high-end servers, and a real-time, fully-automated order system. The company is able to provide customers with 24/7 service and secure environment, making it easy for newbies to take their first steps into the world of cryptocurrency.
10 Deposit Methods Available
BitPanda lets you buy bitcoins and altcoins with 10 different payment methods, including popular European options like SOFORT, Skrill, Neteller, EPS/Giropay, SEPA, Amazon, and more. There are also conventional payment options like Visa and Mastercard.
External Wallet Support
You can use the BitPanda wallet, which will automatically be created for you upon your first purchase. Or, you can attach an external wallet.
BitPanda lets you order your coins in less than two minutes.
BitPanda tends to offer exchange rates that are higher than average due to the fact that you can buy bitcoins and altcoins with methods that allow chargeback – like credit cards and Skrill. When you go to buy or sell coins with BitPanda¸ you’ll notice that the price consists of the exchange rate plus a small fee.
Your fee will change between payment methods. Typically, this exchange rate difference isn’t massive: you can expect to pay about 2% more than the average market exchange rate, although you may pay additional fees based on your payment method (SOFORT and credit cards have a 2% fee, for example, while Skrill’s fee is about 3.8%).
BitPanda was created by Austrian company Coinimal GmbH. The Vienna, Austria-based startup company was founded in October 2014 after a long development phase in coordination with local authorities.
The company’s three founding members are bitcoin enthusiasts who wanted to make it easier to buy bitcoins in the EU. Founders include co-CEO Eric Demuth, co-CEO Paul Klanschek, and CTO Christian Trummer.
BitPanda was originally known as Coinimal before rebranding.
BitPanda is a surprisingly simple cryptocurrency broker that makes it easy for Europeans to buy and sell bitcoin, Ethereum, Litecoin, and Dash. You can get started by depositing money using SEPA, SOFORT, credit cards, or even online Amazon gift cards. Then, you visit the “Buy” or “Sell” page on BitPanda.com and enter the number of bitcoins you wish to buy.
BitPanda offers slightly higher fees than other bitcoin exchanges. However, this is expected when you pay with payment methods that allow chargebacks.
BitPanda tends to offer an exchange rate that’s about 2% higher than the market rate, while certain payment methods are subject to additional fees between 1 and 4%. All fees are clearly outlined on the sales page.
Visit BitPanda.com today to buy or sell bitcoin through your BitPanda online wallet.