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BitPanda (formally known as Coinimal) is a fully automated cryptocurrency exchange where users can store, buy and sell their cryptocurrency fast and easy. BitPanda started it live far back 2014, was created by fintech company based in Vienna - BitPanda GmBH. BitPanda have grown ever since to become one of Europe leading reputable exchange for cryptocurrencies like Bitcoin, Ethereum, Litecoin and more with more than 900,000 users.
BitPanda is a centralized exchange, meaning all user asset are held by the exchange.
Pro:
1. Fast And Easy To Use: All payment are fully automated while giving users full control over their asset.
2. Clean Interface: BitPanda has a very clean Interface that is designed to be beginner friendly.
3. Quite Secure: All user asset are held in an offline reserve (Cold Wallet). BitPanda requires verification on detection of new devices and users can also setup two factor authentication (2FA) in order to properly secure their account.
4. Support Buying And Selling Of Major Cryptocurrencies: Currently BitPanda support buying and selling of over 15 major cryptocurrencies which include coins and ERC20 tokens.
5. Support Multiple FIAT Deposit: Once you are verified, you can start purchasing cryptocurrencies by depositing using Bank Transfer, credit card (Visa/MasterCard), Skrill, Neteller and more.
6. Does Not Require Verification To Start Trading: You can trade and make FIAT withdrawal without completing verification but you need to be verified before you can make FIAT deposit. Basically you can transfer your cryptocurrency from your wallet, trade it with FIAT or other cryptocurrencies and make withdrawal without being verified.
7. Reasonable Fee: BitPanda fees are quite reasonable and can even be a bit cheaper when compared with some exchanges.
8. Active Support: According to reports, BitPanda support are quite active and mostly respond to ticket in just few hours.
Cons:
1. It Centralized: All user funds are held by BitPanda and users risk lossing their digital asset if BitPanda ever get hacked. Generally it is advisable to only hold fund you intent to trade in any exchange wallet.
2. Support trading of only a handful major of coins/tokens.
BitPanda also has an affliate system whereby you receive up to 20% revenue share for every referral. All commissions are paid every month to affliate BitPanda account unfortunately i was unable to find out if they is any minimum withdrawal limit.
It is also important to note that you receive commissions from revenue generated from your referral (e.g through service fee) and not from the amount of money they spend on purchases.
What's your experience with this company? share it