A long time ago in a galaxy far far… distant… I mined a few coins and sold them, I now buy and sell the odd bit of Crypto online and I mainly use BitPanda as a platform to do this. This service review isn’t sponsored, its my ‘cut the crap’ review looking at the good and bad of the service, there are others available so I hope this is part of your research.
- BitPanda is fast and secure. This isn’t just about transactions, which are pretty much instant from deposit to buying crypto or metals, to swaps and transfers and selling. But also about the verification process which is really swift and because BitPanda is EU only adds a great level of security.
- BitPanda has really low buying fees at 1.49% which is the same as coinbase and lower than the big names of coinmama and bitstamp. Selling fee’s are just 1.29% too which is really good, but this comes with a caveat, see ‘the bad’ for this.
- BitPanda offers a wider range of deposit and withdrawal methods from visa card and mastercard to wire transfer to skrill and others. Each has its own fee rate so just be aware of that, but its a superb range of methods.
- I’ve had nothing but great customer service from BitPanda, i’ve had dealings with them a few times around deposits and my verification (i accidentally used an old ID where my address didn’t match) it was really quick and professional. It matches everything you read on their trust pilot about customer service.
- BitPanda offer a savings service, so each month you can automatically save a minimum of £25 and buy crypto or metals to this value, investing safely via the platform. Its a neat little service and handy if you want to know are planning to consistently invest in crypto.
- The platform is not cluttered and really simple to use.
- BitPanda has been around since 2014 and is a trusted name, its not a flakey come lately or a potential scam on the board. Its range of currencies to buy is massive and growing.
- The selling fee of 1.29% mentioned above is pretty low, however its hidden in the prices of the commodity/crypto shown – therefore its really hard to see the true value and compare it to other platforms often. This is sometimes annoying until you get used to it.
- To setup a savings plan you need to make a first payment there and then, even if you are setting up the plan to take a payment in the future. Tip here is to set it up on the date of the month you want to start saving.
- BitPanda only operates in the EU and this means if you are in the rest of the world you can’t use it, sorry. But it does mean they feel much more secure and whilst this feels like a drawback in some ways in others its a positive.
Overall, BitPanda is a really neat platform with very few drawbacks, I like the sleek platform and swift transactions. I’ve used it for a few years and never had an issue.