Overview
Bitpanda was founded in 2014 in Vienna, Austria by Eric Demuth, Paul Klanschek, and Christian Trummer. It started as a Bitcoin broker focused on making cryptocurrency accessible to European users and has since evolved into a multi-asset investment platform. Today, Bitpanda allows users to buy and sell cryptocurrencies, fractional stocks, ETFs, precious metals, and commodity-backed tokens, all from a single account.
The platform's primary market is Europe, and its regulatory standing reflects that focus. Bitpanda holds multiple licenses across European jurisdictions, including registrations with the Austrian Financial Market Authority (FMA) and BaFin in Germany. The company was also one of the first cryptocurrency platforms to obtain a MiFID II license, which governs the provision of investment services across the European Economic Area. This regulatory framework positions Bitpanda as one of the more heavily regulated crypto platforms operating in Europe.
Bitpanda operates as a broker rather than a traditional exchange. This means users buy and sell directly from the platform at quoted prices rather than trading against other users on an order book. The broker model simplifies the experience, particularly for beginners, because there is no need to understand order types, bid/ask spreads, or market depth. The tradeoff is that the pricing includes a built-in spread, which can be higher than fees on order-book exchanges.
For users who want a more traditional trading experience, Bitpanda Pro (now integrated as Bitpanda Exchange) offers an order-book-based trading platform with maker/taker fees and standard order types. This gives advanced users an alternative with more competitive pricing for frequent trades.
The Bitpanda Savings feature allows users to set up recurring purchases on a schedule, making it easy to dollar-cost average into Bitcoin or other assets. Bitpanda Staking lets users earn rewards on supported proof-of-stake tokens. The platform also offers a Bitpanda Card (Visa), which enables users to spend their portfolio balance at merchants, automatically converting assets to fiat at the point of sale.
Getting Started
Bitpanda is designed to be accessible for users who may be new to investing, with a streamlined onboarding process.
- Step 1: Visit bitpanda.com or download the Bitpanda app for iOS or Android. Sign up with your email address and create a password.
- Step 2: Complete identity verification (KYC). As a regulated financial services provider, Bitpanda requires full identity verification. Upload a government-issued ID and complete a video or photo verification step. Processing is typically fast, often within minutes.
- Step 3: Deposit funds. Bitpanda supports a wide range of European payment methods, including SEPA bank transfer, credit and debit cards, SOFORT, GIROPAY, Neteller, and Skrill. SEPA transfers are the most cost-effective for larger deposits.
- Step 4: Buy your first asset. Navigate to the asset you want (Bitcoin, stocks, gold, etc.), enter the amount, and confirm the purchase. The platform displays the total cost before you finalize. You can also set up a Savings Plan for recurring automated purchases.
- Step 5: Manage your portfolio. Track your holdings through the Bitpanda dashboard. For cryptocurrencies, you can withdraw to an external wallet if you prefer self-custody. Stocks, ETFs, and metals are held in your Bitpanda account.
Fees & Limits
Bitpanda's broker model uses a spread-based pricing structure for its simple buy/sell interface. Rather than charging a separate commission, the fee is embedded in the price you pay when buying or the price you receive when selling. The spread varies by asset class, with cryptocurrencies, stocks, metals, and ETFs each carrying different spreads.
The Bitpanda Exchange (formerly Bitpanda Pro) uses a maker/taker fee model. Fees are volume-tiered and decrease as your 30-day trading volume increases. This is a more cost-effective option for users who trade frequently and are comfortable with an order-book interface.
Deposits via SEPA bank transfer are generally free. Card payments and other instant deposit methods may carry additional charges. Withdrawal fees for cryptocurrency depend on the asset and current network conditions. Fiat withdrawals via SEPA are typically free or carry a minimal fee.
Bitpanda publishes its full fee and limit information on its website. Limits are tied to verification level, and fully verified users have access to higher deposit and withdrawal thresholds.
Security
As a regulated European financial services company, Bitpanda is subject to compliance requirements that include secure custody of customer assets, anti-money laundering controls, and regular audits. The company stores the majority of cryptocurrency in cold storage, with operational wallets protected by multi-signature authorization and hardware security modules.
Bitpanda has not suffered any publicly reported security breaches resulting in loss of customer funds. The company's regulated status means it is required to maintain certain capital reserves and operational security standards as a condition of its licenses.
User accounts are protected by two-factor authentication (via authenticator apps), session management tools, and email confirmations for sensitive actions. Bitpanda also offers anti-phishing codes and the ability to review and manage active sessions and authorized devices.
For assets other than cryptocurrency, such as stocks and precious metals, Bitpanda partners with regulated custodians to hold the underlying assets. This means that even fractional stock investments are backed by actual shares held in custody, providing a layer of protection that is standard in traditional finance but less common on cryptocurrency platforms.
Pros & Cons
Pros
- Multi-asset platform: Users can invest in cryptocurrencies, stocks, ETFs, and precious metals from a single account, which is uncommon among crypto-focused platforms.
- Strong European regulation: Multiple licenses, including MiFID II, provide a level of regulatory oversight and investor protection that exceeds most cryptocurrency platforms.
- Beginner-friendly: The broker model and clean interface make it easy for new investors to get started without needing to learn exchange trading mechanics.
- Savings plans: Automated recurring purchases make dollar-cost averaging simple and accessible.
- Wide range of European payment methods: Support for SEPA, SOFORT, GIROPAY, and other regional options makes depositing funds convenient for European users.
Cons
- Spread-based pricing: The built-in spread on the broker interface can be higher than fees on traditional exchanges, making Bitpanda less cost-effective for frequent or large trades.
- Europe-focused: Bitpanda is primarily designed for European users. Availability and payment method support outside Europe is limited.
- Limited advanced trading tools: While the exchange offers order-book trading, the platform overall is geared toward casual investors rather than active traders who need advanced charting and order types.
- Smaller crypto selection: Compared to global exchanges that list hundreds of tokens, Bitpanda's cryptocurrency selection is more curated, which means some niche altcoins may not be available.
- Fiat withdrawal processing: Some users report that fiat withdrawals via certain payment methods can take longer than expected, particularly during periods of high demand.