BitPanda Review – Pros and Cons of the Crypto Exchange

BitPanda Review

This BitPanda review is brief but it addresses some of the major aspects of the exchange every potential or new user should know about. This is one of the most popular crypto exchanges in Europe and offers some of the best features to the users.

This is a straightforward crypto platform where users can easily buy and sell digital assets that they are interested in. BitPanda is also one of the best exchanges for people who are new to the crypto space, which makes it a suitable option for you if you are a beginner.

This exchange is primarily focused on digital currencies, however, it also offers access to other assets such as stocks and metals. BitPanda aims to offer one of the best experiences of buying or trading crypto, which is ensured by the fact that it has a team of professionals, extremely talented developers and more.

This brief BitPanda exchange review talks about some of the pros and cons of the platform that can help you decide if it is a suitable exchange for you to use or not.

BitPanda Review – Benefits of Using the Exchange

Every well-known crypto exchange makes it mark in the crypto space, thanks to the benefits it offers to the users. These are high-end features and services that are offered and make crypto buying or trading easier and less stressful. Similarly, BitPanda also has some pros as mentioned below in detail.

Vast User Base

The user base of an exchange is one of the factors that can help in determining how successful it is. Fortunately, if you are interested in using BitPanda, you should know that it has one of the largest user bases, which more than 2.5 million active users. This includes novice crypto investors and traders as well as professionals.

BitPanda Pro

As mentioned earlier in this BitPanda exchange review, the platform is ideal for new crypto investors. However, it aims to make crypto trading easier for every interested party, including experts. This is why it offers a BitPanda Pro feature that has advanced tools and makes it easy for professional to trade crypto.

Impressive Security

Security offered by an exchange is one of the most crucial aspects that should never be overlooked, especially by people who are new to the crypto space. The level of security offered by an exchange can determine the kind of experience one can have while using it. This BitPanda review addresses this factor and also explains that BitPanda is one of the safest exchanges in the market. It makes use of leading-edge security protocols that keep users’ assets and privacy out of harm’s way.

Fiat Currencies

This might be one of the unique features of the BitPanda exchange as not many platforms offer support to fiat currencies. BitPanda, however, offers supports to five different fiat currencies, which is also why it has an expanded user base that keeps growing.

Small Investments

Another benefit mentioned in this BitPanda exchange review is the possibility to make small investments. This is especially useful for people who are new to the crypto space. If they do not want to dive in completely into crypto trading they can make small investments.

Drawbacks of the Exchange

There are several crypto platforms in the market and none of them are perfect. Each of them have pros and cons to offer. However, it is not necessary that the drawbacks of an exchange may be monumental, they can simply be unsuitable according to one’s criteria.

Therefore, if you are looking to use BitPanda then this BitPanda review mentions some of its drawbacks as well.

High Fees

A fair and transparent fee structure is one of the major factors that needs to be considered before crypto investors or traders choose an exchange. People often look to use a crypto exchange that has a low fee. BitPanda, however, does not have a low fee but instead charges a higher fee as compared to its competitors.

Unavailability of Staking

Another drawback mentioned in this BitPanda review is for the people who are interested in an exchange’s staking feature. As a potential user of BitPanda it is important to know that this exchange does not support the staking feature, which can be considered a drawback of the platform.

Extra Charges

The BitPanda exchange offers support to several payment methods, which is a top feature many users look for. However, it also comes with a drawback, which is extra charges users have to pay based on the payment method they choose.

Key Takeaways!

Being familiar with the advantages and disadvantages of an exchange is the best way for new users to determine how suitable an exchange is for them. Different investors and traders may have different criteria and trading requirements. Therefore, the more you know about a platform the easier it can be for you to make an informed decision.