How to create an account on BitPanda

You want to know how to create an account on BitPanda ? You are in the right place !! Although Bitpanda is perhaps best known for its crypto exchange, its offering is not limited to that, providing investors with an opportunity for additional diversification across 1 assets, including stocks and metals.

One of Bitpanda's core principles is ease of use, and to that end they have provided an incredibly user-friendly and easy-to-navigate trading platform.

The platform has a decent range of payment methods which could make this platform one of the cheapest ways to buy.

You will want to know what to expect from this platform for selling and buying cryptocurrencies and traditional assets like stocks and ETFs.

That's why I wrote this detailed review and I will give you my opinion on Bitpanda. In this article, I will also show you how to create an account on Bitpanda.

Let's go!!

What is Bitpanda?

Bitpanda is an Austrian company based in Vienna. Initially a cryptocurrency trading platform, Bitpanda now offers trading in precious metals and stocks.

Today Bitpanda has a valuation of 4 billion with offices in London and soon in Berlin. Bitpanda started as a cryptocurrency exchange to sell and buy cryptocurrencies in 2014.

But later they realized that they can also offer other types of investments to their users. It is now possible to invest in:

• Over 65 crypto assets
• 3 crypto indices
• ≈ 100 fractional shares at from 1 € from companies like Apple, Spotify or Disney
• 7 fractional ETFs from managers like iShares or Lyxor
• 5 precious metals like gold, silver, palladium and platinum

It is therefore a broker with few available assets, but which combines the possibility of being able to invest both in cryptocurrencies and in stocks and ETFs.

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Its main advantage is that its platform is intuitive because it is minimalist and does not saturate the user with advanced features.

What products does BitPanda offer?

Bitpanda's trading platform is excellent in its simplicity and allows you to monitor the price of various assets, manage all your trades and swaps, and get an overview of your crypto portfolio. Additionally, you can access the following features:

Bitpanda Cipher Index

The Crypto Index provides an easy way to automatically invest in the entire crypto market.

Users can choose between the top 5, the top 10 or the top 25 digital currencies and Bitpanda will automatically create a diversified portfolio that will be constantly adjusted according to market movements.

It is a fully regulated product that offers investors a hands-off approach while remaining diversified.

I found this offer to be a good option for crypto newbies and for those who want an automated way to rebalance their portfolio.

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Bitpanda also lets you create a savings plan for automatic deposits to your wallet as well as earn BEST rewards.

There are fees associated with this, including a premium of trading 1,99% every time you buy, sell or trade within your crypto index.

This applies to automatic monthly rebalancing but only to the rebalanced amount and not to the total value of your portfolio.

Bitpanda Savings Plan

There is something to be said for buying assets on a regular basis as it can help overcome market volatility.

Bitpanda has designed a savings plan that allows you to automatically purchase digital assets on a weekly, bi-weekly and monthly basis, allowing you to benefit from the average cost effect.

Bitpanda Exchange

Bitpanda allows you to exchange one digital asset for another, without having to switch to fiat currency first.

All swaps are done instantly without any limits. Using this service means you will pay less premium than if you trade individually.

Bitpanda Pay

Bitpanda Pay allows you to spend your digital currency in the same way as fiat. Customers can pay rent, send money abroad, and make purchases using their crypto. This can be done through the Euro Wallet.

Bitpanda Card

The Bitpanda Card is a debit card that lets you spend your digital assets with Visa. The asset you use to pay for your purchases can be selected in the Bitpanda app.

There are no card fees or monthly account fees associated with the card and of course it is accepted wherever Visa is accepted.

Bitpanda Pro

Bitpanda pro can be accessed from your standard Bitpanda account without the need for further registration and navigating between the two is quite seamless.

A far cry from the simplicity and ease of use you'll find on the basic Bitpanda exchange, the pro version is an intuitive user interface with an eye for detail.

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The plethora of information is well organized and presented on a clean interface that allows traders to place limit and stop orders as well as other complex trades.

Bitpanda Ecosystem Token (BEST)

This is Bitpanda's own native token that can be used to claim rewards and discounts. Inasmuch as BESTVIP, you will be rewarded with BEST every time you trade.

This opens up the possibility of recovering up to 0,25% of your trading volume and is credited instantly. BEST can also offer you a 20% discount on trading and deposit fees, as well as trading premiums.

BEST was first launched in August 2019 and has since grown into a $50 billion token reaching a market capitalization of over €XNUMX billion with over €XNUMX million paid out in BEST rewards.

Fees and commissions on Bitpanda

Bitpanda's commission policy is not that of most brokers. Here, the commissions are integrated into the price in real time.

This is useful from a point of view because you will know the total price you are going to pay for an exchange at this time.

But, on the other hand, it will distort the real price of the currency you are going to operate with, because in most cryptocurrency exchanges, commissions are not directly reflected in the final price as they are in Bitpanda.

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For the sale of Bitcoin, the most common transaction with this broker, the commission is 1,49% for the buyer and 1,29% for the seller. Regarding withdrawal and deposit commissions, they are indicated at the time of the transaction.

It is also important to note that for some transaction methods such as credit card, a surcharge is applied for each transaction. You will also see it when you do.

If you invest in precious metals (Bitpanda allows you to trade gold, silver, palladium and platinum), storage fees are applied on a weekly basis.

✔️ Advantages and disadvantages of Bitpanda

To get started, let's first look at what's best and what Bitpanda can improve on.

✅ In favor of Bitpanda:

Intuitive: Its platform is very easy to use, and it is designed so that beginners do not get lost. You have fewer options than other brokers (eg order types).

Quick account opening: Opening an account with Bitpanda is fast. To check it, you just need to open the app on your phone and take some pictures.

Crypto, stocks and ETFs: It is possible to sell and buy cryptocurrencies and other more traditional assets like ETFs and stocks.

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Savings plan: You can create a portfolio with the assets you want to invest in and put the money you save there.

Deposits: It is possible to make deposits in various currencies (for example, in euros, Turkish liras, dollars or Swiss francs), of course you can also deposit cryptocurrencies.

Credit card : Bitpanda will give you the option to give you a card (VISA and debit Mastercard) with your Bitpanda account to be able to make payments and withdraw money using the balance you have or the assets in your account (e.g. Bitcoin, gold or stocks).

24 hour trading: the Bitpanda platform allows trading around the clock. However, if you operate after 24:24 p.m., before 22:00 a.m. (Spain time) or on weekends or holidays, commissions may be higher. By using fractional shares, you can buy and sell shares even on a Saturday at midnight.

But it also has some weak points that you should be aware of.

❌ Against Bitpanda:

Few assets. The truth is that Bitpanda offers plenty of crypto assets to invest in.

Commissions integrated into the prices. When you buy an asset with Bitpanda, you won't see the commission (or the spread) separately, because the price of the asset embeds the commission. It would be nice if when you were investing you could see how much you are going to pay in retail commissions.

Fractional stocks and ETFs. Stocks and ETFs offered by Bitpanda are fractional. This means you can invest with it too little than 1 €. But at the same time you are not the owner of these shares (Bitpanda allows the sale of shares of these shares).

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Not anonymous. Some cryptocurrency buyers seek an anonymous system. Bitpanda complies with current legislation (in Europe) and will not let you open an account without verifying your identity.

Deposit fees. If you want to use methods to deposit money instantly (for example Skrill or Neteller), Bitpanda will only let you do this if you pay a fee.

How to open an account on Bitpanda?

If what you've read so far appealed to you and you want to start trading on Bitpanda. Keep in mind that signing up is really quick, easy and absolutely free. We leave you a brief step by step:

Step 1: Go to BitPanda official website

Go to the official website of the exchanger and click on “ Start ».

Step 2: Fill in your information

The Bitpanda registration process can be started. Click the icon in the upper right corner of the website or application.

You will be asked to create your account using your name, email address and password.

Then it's just a matter of accepting the terms and conditions and the privacy policy. You are ready to begin the verification process. Finally, you must click on “ Create account ».

Step 3: Check and confirm your registration

You will shortly receive an e-mail in your e-mail account. This email has a confirmation link to activate the Bitpanda account.

Step 4: Answer the questions asked by the exchanger

Once activated, you will proceed to the next step. It consists of answering a series of questions about your financial situation (employment situation, annual income, etc.).

Please note that this information is confidential between you and the broker. This is a necessary condition to comply with the regulations to which Bitpanda is subject.

Step 5: Choose the type of account

Once the account is activated, you must choose between a personal or professional account. Then, if you prefer to use the normal interface (recommended for beginners) or the PRO version (recommended for advanced traders).

Step 6: Verify your account

Remember that to start working, it is necessary to verify the account. You have the options of simple version (light) and full version (full).

Although you can rest assured if you don't want the full version, that with the simple version you will be able to perform the vast majority of operations.

Congratulation !!! Your account is successfully created

Other exchanges for investing in cryptocurrencies

You want to know other investment platforms on cryptocurrencies, here is someone:

• Kucoin
• Lato who
• Houbi
• BitMex
• Coinbase
• Paxful
• Binance
• lbank

Faq: How to create an account on BitPanda?

How do I contact the Bitpanda support team?

Unfortunately, Bitpanda does not provide any phone or live chat support. To make contact, you will need to use their email ticketing system accessible through the website.

How do I close my account with Bitpanda?

Accounts can be closed and deleted upon request. Simply create an email ticket and enter the email address registered with your Bitpanda account.

Is Bitpanda regulated?

This has been the source of some controversy lately following Bitpanda's acquisition of Trustology. The latter is a digital asset custody platform regulated by the Financial Conduct Authority.