Bitpanda Affiliate / Referral Program

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Bitpanda Affiliate Program Url: https://www.bitpanda.com/en/affiliate

Website Url: http://www.bitpanda.com

How to contact: https://support.bitpanda.com/hc/en-us/requests/new

What is it? BITPANDA is your platform for securely buying, selling and storing Bitcoin, Ethereum, IOTA and more.

Category: Exchange

Affiliate payout in Bitcoin? YES

Which non-Bitcoin payout methods do they support? SOFORT, VISA, MASTERCARD, NETELLER, SKRILL, GIROPAY, EPS, AMAZON, EURO WALLET, BANK TRANSFER

Revenue Share Percentage: 20%

One Time Commission: NO

Lifetime Revenue Share: 20%

Affiliate Referal Commission: no information

Additional Program Info: Receive a 10 € bonus of every person you referred. (Tell-a-Friend Program, no application needed)

Supported Crypto-Coins: Bitcoin, Ethereum, IOTA and more.

US Users / Players allowed? NO

We would like to share our Bitpanda experience with everyone interested in buying Bitcoin in Germany and buying Bitcoin in Austria. Bitpanda is without question one of the most successful Bitcoin start-ups in Austria in recent years. Of course we also take a detailed look at the Bitpanda fees. The founders include Eric Demuth, Paul Klanschek and Christian Trummer, three people who have been closely associated with the cryptoscene, especially Bitcoin, for years. The founding of Bitpanda was preceded by several years of planning, which is why the platform is now one of the largest in Europe and significantly simplifies the trade in crypto currencies within the EU.

Especially in German-speaking countries, brokers are so popular because they are one of the few trading platforms to be completely available in German. In addition, there is an English language version of Bitpanda for international interested parties. Alternative brokers usually present their offers only in English. In addition the fact comes that Bitpanda offers an offer from a hand, whereby investors do not need additional Wallet for the acquisition of Bitcoins, Ethereum, Dash or Litecoin. A wallet service was automatically included in our Bitpanda test. It should be noted that Bitpanda only offers the purchase and sale of crypto currencies, whereas the exchange of one crypto currency into another is not possible.

For this purpose, the Crypto Marketplace provides several deposit and withdrawal options. In addition to the classic bank transfer, these include the payment service providers SOFORTüberweisung, credit card (Visa and Mastercard), Neteller, Skrill and Giropay. Payments can also be made, for example, in the form of an Amazon gift voucher.

The fact that the Bitpanda trading platform is completely available in German has already been mentioned. Of course, this also applies to the extensive help area as well as the support. Whenever German-speaking investors have questions or problems, they can rely on competent support in their native language. Since this is not a matter of course on every trading platform, this point can definitely be seen as an advantage in our evaluation.

Advantages

• all major crypto currencies tradable
• Higher limits for major investors
• fast verification via video chat
• many deposit and withdrawal options
• one of the European market leaders for the purchase and sale of BTC and ETH
• modern safety standards
• Wallet solutions for all tradable digital currencies
• own web trading platform
• mobile app available

Drawbacks

• comparatively few tradable currencies
• up to 7 percent Bitpanda fees
• Verification levels must be unlocked

Bitpanda experience: Stock exchange focuses on key markets

By international standards, there are now numerous marketplaces, stock exchanges and brokers offering countless crypto currencies. Here, trading among each other is often just as possible as trading against a large selection of fiat currencies. According to our Bitpanda crypto experience, however, this provider treads paths that clearly distinguish it from the competition. Thus the trade takes place in principle against euro, other national currencies are not offered. Investors can only avoid this by using payment service providers such as Neteller or Skrill. In this case the deposit in another national currency is possible, with the Bitcoin buy with Neteller or Bitcoin buy with Skrill this amount is exchanged however first against a fee in euro.

Deviations from other stock exchanges can also be found in the number of crypto currencies offered. Our Bitpanda experience clearly shows that the Austrian crypto marketplace concentrates exclusively on the most important – because largest – digital currencies. These include:

• Bitcoin
• ethereum
• dash
• litecoin
• bitcoin cash
• ripple

Small and unknown crypto currencies are not included in Bitpanda’s portfolio, so if you want to trade them, you have to look for an alternative. Furthermore, Bitpanda only offers to buy and sell Bitcoin and various Altcoins for Euro, the trading of the digital coins among each other is also not possible.

Investing in small or unknown crypto currencies – so-called exotics – is not possible with Bitpanda. The stock exchange concentrates exclusively on the purchase and sale of the best-known crypto currencies and does not offer any other national currency apart from the euro. Only by the use of different payment service providers investors have the possibility of realizing the purchase with another currency.

Bitpanda fees depending on selected payment method

Those who invest their money on the Internet are automatically interested in possible fees. Therefore, we would like to take this opportunity to discuss our experience with Bitpanda with regard to fees. On a positive note, there are no additional costs for using the trading platform and managing your securities account. However, these are incurred by investors when buying and selling, and the provider has unfortunately opted for a very non-transparent model. Buying Cryptocoins is a three-step process:

1. Select the desired coin
2. Select payment service provider
3. Select desired amount

After an amount has been entered in step 3, the prospective buyer is immediately shown the amount of a crypto currency he receives for it. In this amount, fees are already taken into account, but are not explicitly shown. The buyer can only find out that the individual payment methods are associated with different fees – but not the exact amount. A similar practice is applied to the sale, here too the amount to be received already contains the fees. But at least the Crypto Börse Bitpanda points out in its help section that it is always anxious to charge as little Bitpanda fees as possible.

When looking at the Bitpanda fees it should always be mentioned that the stock exchanges have no influence on some costs and only pass them on to the users. To accuse Bitpanda of fraud, because the fee can vary between 3 and 7 percent, depending on the chosen combination of payment method and crypto currency, would therefore not be appropriate. When buying and selling Bitcoin, Ethereum and the other digital currencies, the costs incurred by the payment providers and transactions within the blockchain must always be taken into account. Bitpanda also points out that buying Bitcoin with a VISA credit card or Mastercard can involve a cash advance fee in addition to the amount sent. This, however, is recorded in an additional withdrawal, over which the stock exchange has no influence.

BitPanda payment methods

The purchase and sale of Bitcoin and Altcoins is always subject to fees, as is the case with Bitpanda. In contrast to many other trading platforms, Bitpanda, which is based in Austria, has decided not to show the fees per trade separately. These are automatically taken into account in the purchase amount. The same procedure is used for sales.

• Fees from 3 percent
• Purchase and sale against Euro
• Stock exchange and wallet for crypto currencies
• Minimum amount 25 EUR
• fixed disbursement fees
• outside Europe only sale of coins possible
• high security through 2-factor authentication

Is Bitpanda serious? Everything you need to know about security

In particular, trading Bitcoins can involve large sums of investment. Therefore, both the investor and the trading platform should attach even greater importance to the topic of security. Our experience with Bitpanda shows that Bitpanda is serious and uses standard methods to increase the security of the customer account. This includes, for example, that investors can set up two-factor authentication (2FA). Authentication is then performed using a smartphone or tablet with the Google Authenticator app at each login. Anyone wishing to enter the investor’s account in the future would not only need the combination of password and e-mail address chosen by the investor, but would also need to be in possession of the device via which the 2FA was set up.

Bitpanda also meets the highest standards with regard to further safety precautions. Part of the security concept is the authentication, which every user has to go through if he wants to use the service of the trading platform without restrictions. For example, the daily, weekly and monthly limits for deposits and withdrawals increase with each verification level. The individual levels are called bronze, silver and gold and can be achieved by transmitting various data to the provider. This includes, for example, address, telephone number or an official photo ID. The verification for the gold level takes place via video chat and is usually completed within 10 minutes.

BitPanda attaches great importance to security

Verification is now necessary on all reputable trading platforms for crypto currencies and serves to protect all registered users on Bitpanda. Fraud is therefore largely ruled out, as no fraudster is interested in transmitting all his or her personal data beforehand. However, our Bitpanda crypto experience also shows that one essential aspect of crypto currencies is lost through verification: anonymity. This must be accepted by anyone who performs Bitpanda verification and then trades on the Bitcoin, Ethereum, Litecoin and Co. stock exchanges.

Bitpanda, like all reputable trading platforms for crypto currencies, attaches great importance to security. Users are not only advised to choose a combination of e-mail address and password that is as secure as possible, they can also protect their account using two-factor authentication. Verification in several steps also ensures that fraudsters hardly have a chance on the platform.

The trading conditions in the detailed Bitpanda test

Our experience with the Bitpanda trading conditions is ambivalent. On the one hand it must be mentioned positively that of the largest crypto currencies in terms of market capitalization, all important ones are represented. On the other hand, however, investors have no chance of making profits through targeted investing in up-and-coming crypto currencies. Currently it does not seem to be also the case that the Bitpanda team extends the offer in foreseeable time. If you want to trade digital currencies that have caused a sensation in the last weeks and months (IOTA, Cardano, Stellar – to name only a few examples) or if you are interested in the exotic ones, you have no chance to buy or sell them at Bitpanda.

If you compare Bitpanda with other stock exchanges, you will also notice that the stock exchange processes transactions extremely quickly. This is another reason why Bitpanda has become one of the most popular trading platforms in Europe since its inception. This may confirm the team’s commitment to making the purchase of Bitcoin and Ethereum significantly easier within the EU. However, investors must accept the comparatively high Bitpanda fees, some of which are significantly higher than those of their competitors. As already explained these are not separately shown however, but are already contained in the purchase and selling price.

The Bitpanda trading conditions should be given special interest in a Bitcoin Broker comparison. This is where the Austrian trading platform differs from other stock exchanges. The concentration on the most important currencies is countered by the lack of interesting alternatives and the high transaction speed by the above-average fees. In the case of Bitpanda, it is also evident that a previous comparison can pay off for investors.

Bronze, silver and gold – this is how Bitpanda verification works

According to the trading platform, it is legally obliged to require all users to undergo verification. Reason enough to take a closer look at this process and go into the individual verification levels in detail. This is the only way for interested parties to find out whether the effort to be made is worth it or whether trading with another provider can be initiated more quickly.

The first step is to register with Bitpanda. Interested parties in trading with Bitcoins must first enter a valid e-mail address, to which a message with a link to confirm the registration will then be sent. New users can use this to select the password, which must have at least ten characters, including at least one number, one uppercase letter and one lowercase letter. Once this has been done, investors can log in with the selected login data; their account now has the “Starter” level. Below is an explanation of the individual levels:

• Starter: This level is held by each newly registered investor. The purchase of crypto currencies is not yet possible, only the deposit of digital coins on the wallet. Payout options include Euro Wallet, Bank Transfer, Amazon Voucher, Skrill and Neteller.
• Bronze: To reach this level, a valid mobile phone number must be entered in the profile. A code is sent to this number, which in turn must be entered on the website. The monthly and daily limit for the purchase of crypto currencies is 50 EUR for online payments and SEPA transfers. Payment by credit card is not yet possible.
• Silver: As of March 2018 this is not yet available, only some details are known. For example, the limits are increased for all payment methods. However, it is not yet known which requirements must be met.
• Gold: In order to achieve gold status, investors must carry out verification using IDnow. This is an identification procedure via video chat in which an official photo ID must be presented to an employee. As soon as the employee has confirmed the verification, the advantages of the Gold Membership are immediately available. The limits are now up to EUR 10,000 per day for deposits and up to EUR 50,000 per day for withdrawals.

Bitpanda offers a special service for those who are not satisfied with the limits of the gold level. Via the menu item “Plus & OTC” on the main page, interested parties can access two exclusive programs. One is Bitpanda Plus with significantly higher limits than the Gold Level. On the other hand Bitpanda OTC, which

Conclusion

It is part of a detailed test report to point out the weaknesses of a crypto exchange. In the case of Bitpanda, the lack of transparency in the fees as well as the above-average level of these fees should definitely be mentioned in this context. The fact that only the largest crypto currencies are in the provider’s portfolio, however, we do not see as a point of criticism, since there is also the greatest demand for these. The fact that transactions are carried out within a very short time should definitely be praised. Due to the speed advantage, the slightly higher price should certainly be acceptable for one or the other investor. For many investors it should also be very pleasant that Bitpanda offers its own wallet solutions and that they do not have to deal with this topic. Thus a generally very good impression results, with however some weaknesses.