Bitpanda is an Austrian exchange, which began operations in 2014. The site is a brand of Austrian Startup Bitpanda GmbH. The purchase of coins on this server is available for customers from EU (excluding the Federal Republic of Germany), Switzerland, Norway.
Where is Bitpanda located? It is located in Vienna, Austria. The official site is bitpanda.com.
Is Bitpanda legit? Yes, the exchange is legit, in addition, it was launched in cooperation with the Austrian authorities. Therefore, you shouldn’t suspect Bitpanda scam. Also, there weren’t cases of Bitpanda down.
Bitpanda reviews Bitcoin, as well as some other Bitpanda alternative coins. Such as Ethereum, Dash, Litecoin, BitcoinCash, Ripple. You can also use these types of payments:
- Bank Transfer;
- Credit card;
- Debit card;
- Cash (Bitpanda To Go).
On the site, you will find information that relates to Bitpanda fees. It says that payment for transactions is voluntary, but if you want to be sure that the transaction will be processed, the site advises to pay the transfer fee.
Bitpanda limits the minimum amount of the deposit differs according to the chosen payout or payment method, and the verification status of the user.
Also, there are restrictions on the withdrawal of funds, so the minimum amount is:
- BTC: 0.0015 BTC;
- ETH: 0.02 ETH;
- LTC: 0.05 LTC;
- DASH: 0.01 DASH;
- BCH: 0.01 BCH.
To see all deposit and withdrawal limits for each coin, visit the “Limits” page on the site.
Is Bitpanda safe?
We continue our Bitpanda review and turn to the important issue “Is Bitpanda safe?”. In order to secure the Bitpanda wallet, the exchange’s team proposes to take the following precautions:
1. Protect your account with a strong password;
2. Protect your account with 2FA;
3. Protect your e-mail, you can also use 2FA.
In order to use 2FA, you need to install the Authenticator application on your mobile phone. Also, there were no suspicions about Bitpanda fraud. So we can assume that the digital currency on this server is securely protected.
We would like to note that the site of the platform is convenient and understandable, but we will still touch upon the topic “How to use Bitpanda?”. As on all other exchanges, firstly you need to register and get your Bitpanda login. Verification is present, but it is not required. You need it if you want to have more opportunities at the exchange.
How to buy on Bitpanda? The process of buying and selling is the same. You click on the corresponding button (“Buy” or “Sell”) and follow the instructions that are on the site. For example:
If you have any questions, you can contact Bitpanda support. Most customers are satisfied with their work. Bitpanda phone number is absent.
At the end of our Bitpanda review 2020, we will sum up and note all the pros and cons of this site.
- Many payment methods;
- There is a referral system;
- The platform is fully automated.
- It is not possible to see the fee in advance;
- Only for EU countries and some others.