Bitpanda Review 2022 - The Vienna Crypto Exchange in Check

Investing has never been easier - Invest in stocks, crypto and precious metals on a single platform. Open a free account within just a few minutes and invest around the clock from as little as €1." With this promising hook, Bitpanda invites prospective customers to open an account. In the following review, you will learn everything about the well-known Austrian crypto exchange, how to open an account, how the login works and everything you need to know about deposits, withdrawals and fees.

Bitpanda - an overview

Bitpanda was founded in 2014 in Vienna, Austria. According to its own statement, the company wants to make investing accessible to everyone. The financial system is difficult to understand, exclusive and expensive, which does not make it easy for the average consumer to start investing.

bitpanda logo

The FinTech company's offering includes trading in cryptocurrencies such as Bitcoin or Ethereum, commodities such as silver and gold, as well as various securities and funds, and everything, as already mentioned, from as little as 1 euro. The buying and selling fees are 1.49%. Gold, silver, platinum and co are offered with different buying or selling fees.

Cryptocurrencies are basically stored in "hosted wallets" at Bitpanda. This means that the platform stores the cryptos for you, which is very convenient for a newcomer in the field, as you don't have to worry about where to keep your cryptos safe.

A special feature: the Bitpanda credit card

Beyond cryptocurrencies and commodities, the company has been offering its own free credit card since January 2021. Especially the payment of Bitcoin and Co is characterized by high volatility, technical hurdles in transactions and few acceptance points. But Bitpanda wants to counter this with its debit card, which was created in cooperation with Visa.

Bitpanda Kreditkarte

This card allows you to pay with all asset classes that Bitpanda offers on a day-to-day basis. So you can easily set in your Bitpanda app what you want to spend - gold, bitcoin, etc. So you can pay at the supermarket with your cryptos or gold just as you can pay your cell phone bill, for example. The conversion of your asstets into "real money" is handled by Bitpanda, Visa is the interface to the merchant. There is also a link for contactless payment via Google Pay and Samsung Pay. When you pay something, you will be notified via push notification.

Design and website

The website is simple and has a user-friendly interface. Thanks to the minimalistic design, the layout is very clear and you can quickly find your way around. If you scroll down further on the homepage, you will get a short version of what Bitpanda has to offer with interactive photos. For further questions, there is then the "Learn" tab.

"Where do I start?"

This question is probably asked by all beginners, because with so many different providers and options, it is easy to get overwhelmed. Bitpanda has immediately included this question as a FAQ. If you click on "Learn" and then on "Where should I start", Bitpanda's helpdesk, which is as simple as it is clear, opens up. However, you can also just click on "Help" on the right, which will also open a dropdown menu with the most common questions. At the helpdesk, a 5-minute video catches the eye that explains to beginners how to buy Bitcoin or other assets at BitPanda. However, the video is in English. But there is also a German step-by-step guide, if you scroll down a little here again.

How does the registration work?

You can open an account with Bitpanda via the website or the smartphone app. On the website, you simply click on the "Get started now" button in the upper right corner. You will then need to enter your name, email address, and place of residence, as well as a secure password.

Bitpanda Konto eröffnen

After that you will receive a verification email (Attention: also check your spam folder!), in which you complete the first step via the link. In the next step, go back to the website or you will be automatically redirected to the Bitpanda page via the link in the email. Here you will see a short list of what to do next.

Bitpanda Konto eröffnen Schritt 2

You will first be asked 6 questions that Bitpanda has to ask due to EU money laundering guidelines, such as where you are sourcing the money you want to invest.  

Afterwards, a video legitimation is necessary. For this you need a secure internet access (please do not use public WLAN), a camera on your device and a photo ID (Attention, your driver's license is not accepted!).


Important: A driver's license does not count as an identification document at Bitpanda. You therefore need a passport, ID card or comparable proof.

Bitpanda Konto eröffnen Schritt 3

Furthermore, you have to enter additional personal data such as address, date of birth and phone number. A pin will be sent to your cell phone to confirm your phone number. The final verification of your person takes place, as mentioned, by means of a selfie video. Here, you have to perform two actions while filming yourself. After that, you will be asked to complete the verification with your smartphone. Here, you have to photograph your ID (identity card or passport). Then you have access to your account.

What is Bitpanda Pro?

Since Bitpanda is committed to being user-friendly and simple, three types of Bitpanda services are offered. Namely Bitpanda, Bitpanda App and Bitpanda Pro.

Bitpanda Pro is aimed at advanced traders who understand the basic concepts of trading and already know trading in their sleep. The costs for buying and selling differ accordingly in their amount. Thus, the Maker fee is 0.1% and the Taker fee is 0.15%.

What is Bitpanda BEST?

There are tokens that are issued by crypto exchanges themselves. Bitpanda BEST, short for Bitpanda Ecosystem Token, is Bitpanda's homegrown token. Basically, the token gives you benefits and discounts from the Bitpanda ecosystem, such as discounts on trading surcharges at Bitpanda or other non-monetary benefits. All users who hold BEST in their Bitpanda wallet, trade at least once a month, and accept the monthly pop-up will receive 0.5% of their BEST holdings. But there are other VIP tiers where you get even more percentages of your BEST holdings. You can read the details here:


For a better overview, Bitpanda's fees are included in the purchase price, so they are not shown separately. For buying and selling, they correspond to 1.49%. In addition, there are fees for certain payment methods. SEPA transfers are free of charge, but credit card use incurs 1.5% and SOFORT and GiroPay 2%. For precious metals, separate fees apply in each case:

  • When buying gold, the markup is 0.5% and when selling it is 1%.
  • For silver and platinum you pay a premium of 2.5% when buying and 2% when selling.
  • For palladium you pay a premium of 2.2% when buying and 1.8% when selling.

There are generally weekly storage fees for precious metals. They amount to 0.025% (gold 0.0125%) of the total amount, which become effective only from 20 g (silver from 200 g).

Deposits and withdrawals

At Bitpanda, there is a separate wallet for each currency. The following fiat wallets are currently available:

  • Euro (EUR)
  • US Dollar (USD)
  • Swiss franc (CHF)
  • British pound sterling (GBP)
  • Turkish lira (TRJ)

In the desktop you proceed as follows:

  1. Click on the deposit button and select the wallet of the currency in which you want to deposit.
  2. Choose your preferred payment method
  3. Enter the amount you wish to deposit and click on "Go to summary". Please note that all deposits and withdrawals are subject to a minimum amount of 25 euros.
  4. Waive your right of withdrawal and confirm that the payment method is the right one. Click on Make a deposit, then you will receive - except for bank transfers - a pin via SMS, which you have to enter.
  5. You will then be redirected to your payment provider or receive the payment details for bank transfers.
  6. Once you have completed everything, you will be redirected back to Bitpanda and the amount will be credited to your wallet.

You can also transfer money via standing order, but Bitpanda itself advises against it, as they do not guarantee that their bank details might change in the future.

You can also withdraw your assets at any time.

This is how the payout works at Bitpanda

  1. To do this, click Portfolio and Currencies on your dashboard.
  2. Select your desired fiat wallet to withdraw from and click "Withdraw".
  3. Choose a withdrawal account. If you haven't done so already, you will need to create a new withdrawal account.
  4. Then enter the amount you wish to withdraw and click on "Go to summary". Note that the minimum amount of 25 euros applies to all deposits and withdrawals.
  5. Check carefully if everything is correct. If so, click on "Confirm".
  6. After that you will receive a confirmation email. In this email click on the button "Confirm transaction".
  7. After that, you will be redirected to a confirmation page from Bitpanda.  

By the way: Withdrawals are free of charge with SEPA bank transfer. Withdrawals via Skrill or Neteller are subject to a fee of 1.50 euros + 2% of the amount.

Payout limits

Bitpanda also has withdrawal limits. They depend on your verification status and your chosen deposit or withdrawal method, or whether it is the daily, weekly or total limit. For example, a withdrawal with light verification is possible only with Bank Transfer, Skrill or Neteller. With a full verification Rapid is added.

Bitpanda Limits

Trading limits are unlimited in their amount in the verified status.


Bitpanda offers an easy entry into the crypto world. Registration and verification are comparatively easy and fast. Many cryptocurrencies are offered and the range is rounded off by precious metals and stocks. Usability is very important at Bitpanda and absolute newbies will find their way around very quickly. If you have questions, most of them are answered in the FAQs or you can contact the provider directly. The fees are not the lowest, but if you have more experience, you can switch to your own marketplace Bitpanda Pro and save a lot. However, this is only recommended for advanced users and professionals.


Can I buy Shiba Inus from Bitpanda?

Yes, Shiba Inu can be purchased on Bitpanda after registering and making a deposit.

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