BitPanda positions itself as a cryptocurrency broker. Here we take a look at what makes BitPanda’s services unique and beneficial and whether it is a dependable platform for users to use for trading profitably in cryptocurrencies.
How did it start?
BitPanda was started as Coinimal in the year 2014 when it focused on offering selling services in particular. It positioned itself for offering cryptocurrency brokerage to European countries. It is a company registered in Austria and its initial transactions involved offering Ethereum and Bitcoin tokens mainly. The website, however, provides options for the purchase of cryptocurrencies to European members only.
Features of BitPanda
BitPanda offers certain unique features to the European customers when it comes to buying and selling in cryptocurrencies such as:
The brand even won an award among the several digital exchanges that were set up for cryptocurrencies in the year 2016. That was also a reason that the platform gained popularity across the European market at such a time.
Customer experiences on BitPanda
The fees that the platform charges are put on the cryptocurrency prices. Hence, users of the platform need to pay the fees when they make such purchases. The fees also depend on the kind of payment method the users opt for. Funding your account with a credit card will attract more fees. Transfer limits are placed on the verification level of accounts. The levels of verification include email verification, phone number verification, and ID verification. There are two steps account login processes that ensure that users can keep their accounts securely on this platform.
Should you trade on BitPanda?
With the number of established trader base that this portal has, it is not a risky proposition to trade on this platform beside the inherent risk of cryptocurrency trading. However, only European residents can trade on this platform.