Bitpanda Pro – Reviews, Trading Fees & Supported Cryptos
Bitpanda Pro Overview
Bitpanda (previously known as Coinmal) is a well-known crypto exchange that allows its users to easily buy and sell the most popular crypto-assets such as Bitcoin, Ethereum, Litecoin, and many others. The headquarters of the company is in Vienna, Austria and it was founded back in 2014. Bitpanda is considered one of the biggest cryptocurrency exchanges in Europe. The team that runs Bitpanda consists of Eric Demuth (co-CEO), Christian Trummer (CTO), and Paul Klanschek (co-CEO).
Bitpanda Pro is Bitpanda’s parent company and it was founded in 2019. The main goal of the exchange is to offer its users a beginner-friendly interface and easy ways to buy and sell the most popular cryptocurrencies.
In this article, we will go through Bitpanda Pro in detail – services and features, supported cryptocurrencies, deposits and withdrawal methods, fees, onboarding process, supported countries, etc.
Before we start, let’s have a glance at Bitpanda Pro’s overview:
|Supported Fiat Currencies||EUR, CHF, GBP, and TRY|
|Available in the US||No|
|Trading fees||Maker – 0.1%Taker – 0.15%|
|Withdrawal fees||0.00021 BTC|
|Customer support||Decent – FAQs, Help Desk, Social Media Support|
Note: Keep in mind that these are only our opinions based on my thorough investigation of the Bitpanda Pro exchange any case, please do your own research before deciding whether you want to use it or not.
At this point, it is good to note that all opinions and suggestions written in this article are not considered financial advice.
Please read our full review about Bitpanda vs Bitpanda Pro here.
Services & Features
Let’s go through Bitpanda Pro’s two main features – buying/selling crypto and spot exchange.
Buy & sell crypto
Bitpanda Pro offers a fairly easy-to-use interface that is suitable both for desktop and mobile devices. Most importantly it offers fiat and crypto deposits, but keep in mind that you can’t deposit anything on Bitpanda Pro until you verify your account. Have a look at the screenshot below to see what the Bitpanda Pro’s homepage looks like (once you went through the registration process that will be explained a bit later in the article).
Select the cryptocurrency you would like to buy and click on the green “Buy” button (the “sell” button changes the color to red once you click on it).
Alright, so now we move to Bitpanda Pro’s second most important feature – spot trading or spot exchange. Something the majority of traders will like is that the exchange offers a wide range of trading pairs. To be precise, there are over 40 at the time when this article was written.
Bitpanda Pro supported assets
I would say this is where Bitpanda Pro lacks when compared to other popular exchanges since it supports around 20 crypto assets available for buying. However, it does support the most popular cryptocurrencies such as Bitcoin, Ethereum, Ripple, Litecoin, IOTA, Stellar, Chainlink, and Doge.
As mentioned above, Bitpanda Pro supports more than 40 trading pairs including TC/EUR, XRP/EUR, BEST/BTC, ETH/EUR, BTC/CHF, XRP/CHF, PAN/BTC, etc.
Bitpanda Pro deposits & withdrawals
Bitpanda Pro charges fees for both fiat deposits and withdrawals. The credit card deposit fee is flat – EUR 25 while withdrawal fees vary from coin to coin. For example, they are 0.00021 BTC per BTC withdrawal.
Crypto deposits are free of charge.
Bitpanda Pro supports the following payment methods:
- Giro Pay
- Bank transfer (SEPA)
- Credit cards like Visa and Mastercard
- Bitpanda “to go”
Of course, you can deposit crypto if you are already an owner of some crypto asset.
Bitpanda Pro’s limits are shown in the tables below for online payments, credit cards, and bank transfers (SEPA).
|Daily limits (24h)||EUR 10,000||EUR 100,000|
|Monthly limit||EUR 300,000||EUR 2,000,000|
|Total limit||EUR 10,000,000||EUR 10,000,000|
|Daily limits (24h)||EUR 2,500||None|
|Monthly limit||EUR 300,000||None|
|Total limit||EUR 5,000,000||None|
|Bank Transfer (SEPA)||Deposits||Withdrawal|
|Daily limits (24h)||EUR 500,000||EUR 5,000,000|
|Monthly limit||EUR 5,000,000||EUR 5,000,000|
|Total limit||EUR 100,000,000||EUR 999,999,999|
Bitpanda Pro Trading Fees
Have a look at the table below to understand how the Bitpanda Pro’s trading fees look like.
|Levels||Taker Fee||Maker Fee||Trading Volume|
|Level 1||0.1%||0.15%||≥ 0.0 BTC|
|Level 2||0.1%||0.13%||≥ 100.0 BTC|
|Level 3||0.09%||0.13%||≥ 250.0 BTC|
|Level 4||0.075%||0.1%||≥ 1000.0 BTC|
|Level 5||0.06%||0.09%||≥ 5000.0 BTC|
|Level 6||0.05%||0.075%||≥ 10000.0 BTC|
|Level 7||0.05%||0.065%||≥ 20000.0 BTC|
Bitpanda Pro’s trading fees are around market’s average.
Does Bitpanda Pro require KYC?
Yes, Bitpanda Pro is one of those exchanges that require a mandatory KYC (Know Your Customer) verification process in order to deposit or withdraw any currencies on the platform. The process itself is fairly easy – first, you have to enter some of your personal information (such as an address for instance) and then provide some of your valid ID documents (such as an ID card or passport).
On Bitpanda Pro’s website, it says that “We require this data because of EU anti-money laundering regulations.”
Bitpanda Pro supported countries
Below is the list of countries Bitpanda Pro supports for the onboarding and verification process.
- Czech Republic
- the United Arab Emirates
- the United Kingdom
Are US investors allowed on Bitpanda Pro?
Unfortunately no. US investors are banned from using Bitpanda Pro. The US market is still the biggest crypto market globally so this is a negative side of Bitpanda Pro.
Moreover, Chinese traders are also forbidden on the platform.
How to start with Bitpanda Pro? (steps like registration, activation, verification, etc)
Starting with Bitpanda Pro is pretty much straightforward since the whole process should not last more than a few minutes.
In order to start the onboarding process, click on the “get started” button on the top right corner of your desktop screen. The first step is to choose whether you want to create a personal or business account. The main difference between these two accounts is that you are trading with your own funds on your personal account while on the business account you are trading with funds of your registered business.
Then you have to type your first and last name, email, and your country of origin. Of course, you have to click on the confirmation email they sent you immediately to your inbox.
Bitpanda Pro then prompts you to answer some of their questions mostly about your salary, how much you plan to invest in trading, etc.
Verification is the final step of the onboarding process, although you have an option to “verify later” here. However, please keep in mind that the KYC (Know Your Customer) verification process is mandatory if you want to deposit fiat or crypto on Bitpanda Pro.
Does Bitpanda Pro have a Native Token?
Bitpanda Pro does have a native token of its ecosystem – Bitpanda Ecosystem Token or BEST. There are several benefits on the platform if you are a holder of BEST such as discount on trading, perks based on the amount of the tokens you are holding, and priority access to Bitpanda’s launchpad.
Is Bitpanda Pro legit and safe?
When you take into account that Bitpanda Pro is one of the leading cryptocurrency exchanges in the world at the moment, then it’s safe to say that the platform is completely legit and safe. Moreover, it’s trusted by hundreds of thousands of users.
Because of its credibility and strict regulations, Bitpanda Pro has become one of the most trusted cryptocurrency platforms over the years. An interesting fact about this exchange is that it has never been hacked since it offers a few security protocols which protect users’ funds and privacy.
One of the security features of Bitpanda Pro is that all users’ funds are stored safely in cold wallets. Bitpanda Pro is trusted by several very successful organizations from the EU starting from family offices and private banks to crypto ATM operators.
Is Bitpanda Pro Regulated?
Yes, Bitpanda Pro is a completely regulated platform. The exchange is regulated under the European Union laws. That’s why Bitpanda Pro is mostly suitable for European institutions and businesses looking to invest in crypto.
Bitpanda Pro vs Bitpanda
Bitpanda is a super easy-to-use crypto exchange where you can buy and sell cryptocurrencies in just a few clicks. So, it is suitable for inexperienced crypto traders. On the other hand, Bitpanda Pro offers professional trading solutions, price matching capabilities, and fully automated clearing, settlement, and netting processes.
Even though Bitpanda Pro has a beginner-friendly interface and newbies in the crypto world are more than welcomed on the platform, it’s still turned more to experienced crypto traders who already traded for some time and know the basic concepts of trading.
When you trade on Bitpanda, you benefit from a price guarantee lasting for 60 seconds. While on Bitpanda Pro you have to pay for trading fees that do not go over 0.1% (maker) and 0.15% (taker) respectively.
To be completely honest with you, it was a pleasure writing this article about Bitpanda Pro since this is a platform all experienced crypto traders will like. It offers a beginner-friendly interface that can be used by new crypto traders. However, my most sincere suggestion here is – if you are new in the crypto universe, you should probably avoid Bitpanda Pro until you become more experienced. You should use Bitpanda instead.
What I liked about Bitpanda Pro is that the exchange is trusted among crypto traders which increases its credibility and safety at the same time. Moreover, the team around the exchange is doing whatever they can to protect users – the main thing here is that users’ funds are stored in safe cold wallets. Bitpanda Pro supports a wide range of payment methods which is another thing a lot of crypto traders will like since it gives them the flexibility to invest and trade on the exchange.
However, Bitpanda Pro does have a few drawbacks and negative sides as well. I would say the biggest one is that there are a limited number of cryptocurrencies supported. Moreover, there is a mandatory KYC (Know Your Customer) verification process.
To conclude, Bitpanda Pro is one of the leading cryptocurrency exchanges and it’s trusted by hundreds of thousands of experienced traders. Therefore, if you know the basic concepts of crypto trading, Bitpanda Pro is a type of platform you should definitely consider.
Let’s have a look at some frequently asked questions about Bitpanda Pro.
- Beginner-friendly interface
- A variety of payment methods supported
- Established and well-known exchange in the crypto universe
- Offers advanced API
- Considered legit and safe
- Mandatory KYC
- US Investors are banned from using the exchange
- The limited number of cryptocurrencies supported
- Fees are around the market’s average
- Turned mostly to experienced traders, so if you are new in the crypto world, Bitpanda Pro is probably not the platform you should use
- No margin or futures trading
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com