Website URL:
https://www.bitpanda.com/en
Bitpanda is a leading fintech company headquartered in Vienna, Austria. The company provides a suite of products that empower people to buy and save digital assets, pay for goods and services, trade in precious metals, and exchange digital assets. Bitpanda, which is under the regulation and supervision of the Vienna financial regulator, has more than a million customers from around the world. It also has more than 130 employees.
Bitpanda was started in 2014 by Christian Turner, Paul Klanschek, and Christian Trummer. The company has raised more than €43 million through an Initial Exchange Offering (IEO). The company was originally known as Coinimal.
In a world filled with countless exchanges, Bitpanda has created a platform that sets itself apart. The company has the following advantages:
Unlike other online exchanges, Bitpanda provides a number of additional products and services. All these products help the company create an ecosystem where users can find all the tools they need. The company offers the following products:
All these products are categorized into two: Bitpanda Platform and Bitpanda Exchange.
Bitpanda supports more than 30 digital assets. These include Bitcoin, Ethereum, NEO, Ethereum Classic, Tezos, and Ripple among others. It also offers precious metals like gold, palladium, and platinum. In addition, its other services like savings and pay allow users to use fiat currencies like the USD, sterling, and the euro.
Bitpanda is a digital currencies platform. The benefit of digital assets is that they are transborder. They allow people from all countries to transact. As a result, Bitpanda does not face barriers that other fiat currencies companies face. Users from around the world – except from the US – can create an account with Bitpanda and start transacting. However, all users need to verify their accounts.
The Bitpanda Ecosystem Token is a token that was developed by Bitpanda. The company conducted an initial exchange offering that raised more than 43 million euros. As of this writing, BEST token is valued at more than 27 million euros. This is because the price usually fluctuates because of demand and supply
The process of signing up to Bitpanda is relatively easy and can be done on the website and its mobile apps. On the homepage, you should click the Get Started Now link. This link will take you to the signing up page, where you will be asked to fill your personal details and accepting the terms and conditions. After you accept the terms, you will need to verify your email address. This is the normal process where you click a button or a link that is sent to you.
There will be two options every time you sign-in. You will need to select the account where you want to sign in. You can select either the Bitpanda Platform or the Exchange. This is shown below.
There is a difference between the Platform and the Global Exchange. It is in the platform that you will find your wallets that enable you to save and send money. You can also click the wallets to see your balances. The prices link will show you the prices of all assets. The following shows how the platform looks.
Bitpanda Global Exchange is a platform that enables you to trade in cryptocurrencies and precious metals. The dashboard of the exchange is shown on the image below.
Signing up is not enough without having your account verified. Verification is important because it helps the company operate within the law. It helps it in knowing your customer (KYC) and anti-money laundering (AML). This is a requirement by all regulators.
As mentioned above, the first step to verify your account is to click the link that is sent to your email address. The next step is where you submit your picture, identity card or passport, and your proof of residence. The latter can be a utility bill that has your address. After you submit all this, you can now go on to deposit money and start trading. The verification process takes less than two hours.
After you complete signing up, you need to deposit money into your account. The company accepts deposits in US dollar, euro, Swiss franc, and sterling. You can also deposit your funds using cryptocurrencies like Bitcoin and Ethereum.
As a Bitpanda customer, you can easily withdraw money. You achieve this by clicking the Withdraw option on your account. You should then select the amount of money you want to withdraw and the option you want to use. You can withdraw funds using the same deposit options we have mentioned above.
As mentioned above, Bitpanda also deals with precious metals. These metals are stored in a secured vault in Switzerland. Storing the metals cost money. As such, the company charges holders of these metals storage fees. The weekly storage fee for gold is 0.0125% while that of silver is 0.0250%. That of palladium and platinum is 0.0250%.
After you have deposited money in your account, you can trade using the Global Exchange platform shown below.
The first step is to select the market you want to trade in. The market section has been highlighted in red above. When you pulldown this section, you will see all the tradable instruments that are available.
After selecting the currency pair you want to trade, it is important that you conduct a thorough technical analysis. You do this using the tools that are highlighted in white above. Here, you can adjust the type of chart, use technical indicators, and conduct all types of analysis.
This analysis will help you know the type of trade you want to place. You initiate the trade on the left side that has been highlighted in yellow. In this section, you select the type of trade that you want. This can be a market order that considers the current price or a limit or stop order. The latter two are orders that are placed using future prices. You then select the amount of money you want to trade and place the order. As you do this, you can see how other traders are trading using the order book tab. This tab is highlighted inn purple.
Finally, after you have opened your trade, you can check how they are performing on My Orders tab. This tab is shown in green below.
Bitpanda Pay is a service that allows you to pay for bills and send money conveniently to other people. The process of using this service is very easy. First, visit the website’s Bitpanda Pay option. You will see the option of signing up if this is your first time. After you sign up, you should select the Bitpanda Platform option. If you have funds in your account, you should select the Send Option and enter the details of the recipient.
Bitpanda Savings Plan is an option that enable you to save money. You can save these funds in fiat or cryptocurrency. On the Bitpanda Platform, you will find the Savings Portal as shown below. You should start by adding a new plan. By doing this, the platform will automatically buy crypto for you.
Safety and security are very important things for all people involved in the crypto industry. It is important. Bitpanda, which is one of the best-funded Austrian fintech company has put in measures to improve the two. The website and apps have security features. When registering, the company’s platform will automatically tell you whether your password is strong enough.
Another thing. The company has the option of a two-factor authentication. This allows you to enter a secret code that is sent to your email address or phone number to access your account. With this verification, it becomes extremely difficult for external entities to access your account.
Bitpanda is an Austrian company. It is regulated by the Austrian Financial Market Authority. It is this agency that has also given the company a payment provider license in accordance with the Payment Services Directive 2 (PSD2) law. The company also verifies its users accounts as mentioned above.
Bitpanda has created an academy that teaches students more about cryptocurrencies. The classes are divided into three. The beginner classes are tailored to people who are getting started with cryptocurrencies. The intermediate classes on the other hand are for those who “graduate” from the beginner classes. The Expert classes are tailored for those who advance from the intermediate classes. These classes are mostly text-based with some videos. Having the classes is a good thing because it gives traders the information that they need to become better traders.
Bitpanda has a modern customer service experience. Users can easily get in touch with the company through its chat button that is found on the website. The help button gives users answers on the most common questions. Users can also submit requests in this page. However, Bitpanda has not provided a phone number.
