BitPanda is an Austrian Start-up company which was founded in 2014 and it is known for its legitimacy and a wide range of payment options. BitPanda is a completely automated platform which means as soon as payment is confirmed Bitcoin will be transferred to you. In this post, we will share the detailed review of BitPanda to give you better insight.
Does BitPanda offer its services in your country?
BitPanda offer its services in Austria, Germany, Portugal, Spain, France, Italy, Poland, Croatia, Ukraine, Austria, Sweden, Norway, Czech Republic, Belgium, Iceland, Cyprus, Denmark, Finland, Hungary, Monaco, Montenegro, Luxembourg, Romania, Bulgaria, Slovenia, Serbia and many other European countries. BitPanda doesn’t offer its services to US, Canada, Asian and African countries.
Privacy
BitPanda requires your ID before buying Bitcoin but their verification process is the fastest and very innovative. You can easily verify your account using Video call with BitPanda Representative. This process takes less than 10 minutes and you are all set to buy & sell Bitcoin.
Limit & Liquidity
BitPanda has different account levels which are based on the information you verify.
Starter account can sell up to 1000 EUR worth of Bitcoin per day and maximum selling limit is 7500 EUR per month. You can get Starter account by verifying your email. Starter account can’t buy Bitcoins.
The bronze account can buy up to 50 EUR worth of Bitcoin daily and monthly limit is 50 EUR. Bronze account holders can sell up to 1500 EUR worth of Bitcoin daily and monthly limit is set to 10000 EUR. You can get Bronze Account by verifying your mobile number.
The gold account can buy up to 10,000 EUR worth of Bitcoin daily and monthly limit is set to 300,000 EUR. Gold account holders can sell up to 100,000 worth of Bitcoin daily and monthly limit is set to 2,000,000 EUR. You can get a Gold account by verifying your identity using IDnow.
Transactions
Transaction in BitPanda is very fast because most of the payment methods are very fast. You can get instant using Credit/Debit card, plus SOFORT, NETELLER, EPS or OBT. SEPA transfers take one day to complete which mean you will have to for 1 day to transfer the Bitcoin in your wallet.
How to create BitPanda Account and Buy Bitcoins?
Creating an account on BitPanda is very easy. You can follow the following steps to create your account.
- Enter your email address and solve the captcha.
- An email will be sent to your email address with your password.
- Use the email and password to login to your account.
- After the login, you will be asked to enter your phone number.
- The 6-digit pin number will be sent to your number.
- Verify your number and you are all set to buy up to 50 EUR worth of Bitcoin.
- To unlock the Gold Account level, you will need to do a short video call with BitPanda representative who will verify your identity. This process takes less than 10 minutes.
How secure is BitPanda?
BitPanda is regulated company and it follows the rigorous verifying procedure to ensure that sellers and buyers are genuine. BitPanda also uses 2 Factor Authentication to make sure that users’ accounts are secure. The company also follow the state of the Art security measures to keep your fund safe but we will recommend you to move your funds in your offline wallet if they are not in use.
Transfer Fee
BitPanda transfer fee isn’t mentioned on the website. It is included in the Bitcoin price when you buy it from BitPanda. However, in our observation BitPanda charge ~5% of the amount as a Transfer fee.
Customer Support
BitPanda customer support is very responsive and they get back to you in few hours depending on the volume of requests. You can contact customer support via email at support@bitpanda.com. You can also submit a ticket on the BitPanda website.
Conclusion
BitPanda is one of the most trusted Bitcoin Exchange in Europe and if you are from Europe we will recommend you to try BitPanda. Their verification process is very fast and you can start trading Bitcoin in no time. A vast range of Payment method makes it easily one of our Favorite Bitcoin Exchange. It is very easy to use so we also recommend it if you are a beginner. However, there is a room for improvement in the customer support department, they should extend it to a more direct option like a phone call and video call. Overall we are impressed with BitPanda and recommend it. If you are out of Europe then you can check reviews of other Bitcoin exchanges on our website.
