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It is not only since the entry of large payment service providers and companies that a Investment in cryptocurrenciesa consideration that investors should take into account.
While you used to have to go through your own wallet and complex trading on a crypto exchange, providers such as Bitpanda now a clearly simpler and more transparent access. In the following Bitpanda review, we share our comprehensive Bitpanda experience for Swiss users.
Bitpanda presents itself as Intuitive platformwhere both beginners and professionals can trade cryptocurrencies and precious metals at competitive fees. Founded in Vienna, the financial company now has several million users and a constantly growing range of services.
TIPIf you want to learn more about crypto trading platforms, check out our large crypto exchanges comparison for Swiss an.
Bitpanda is not only a pure crypto trading and custody centre, but also offers other financial products. Our Bitpanda experience shows: The dashboard and the overall user experience are very successful. The ability to manage a diversified portfolio on a single platform offers clear portfolio management.
The User friendliness is evident in all areas - especially when opening an account. An account is opened in just a few steps and you could theoretically start investing immediately.
Bitpanda works together with the provider Ofindo for verification, which also enables without live chatin 24/7 mode and independent of business hours. The process takes place in compliance with all legal requirements.
The fee structure is an important criterion when choosing a crypto platform. How high are the Bitpanda fees?
The following costs are incurred when buying and selling:
Unfortunately, the Transparent presentation of fees a point of criticism. Upon enquiry, we were informed that the fees are often not listed in detail for reasons of simplicity and are usually included as a mark-up.
IMPORTANTThe fees can be reduced by the "Best" reward token. Depending on the level, trading fees can be reduced by up to 20% with BEST reward and up to 100% if BEST is used as a means of payment.
NoteBitpanda Pro was discontinued in 2023. Advanced users can now use Bitpanda Swap or the Trading API trading. These options are aimed specifically at professional traders and institutions with other pricing models. Private individuals can also benefit from these advanced trading functions if they trade frequently.
Bitpanda Best stands for "Bitpanda Ecosystem Token". Users who trade at least once a month receive a percentage of this token in their Bitpanda wallet. The BEST token offers various benefits depending on the level, such as Reduced fees.
This is particularly interesting in combination with the Bitpanda savings planwhich can be applied to the crypto index, for example. ImportantThese savings plans only work via SEPA transfer, not with credit card or TWINT.
Monthly savings plans offer several advantages:
For beginners, Bitpanda works just as smoothly as Relai - but with a significantly larger range of tradable assets. From opening an account and making a deposit to buying/selling cryptocurrencies, everything is designed to be user-friendly.
Currently Numerous cryptocurrencies Some of them are only available in "Trade Only" mode (no withdrawal to the personal wallet possible). The offline storage of coins in a cold wallet is another plus point.
My personal experienceAs an Austrian provider, Bitpanda can boast something that is missing from many international platforms from China or overseas an accessible, German-speaking support team. Especially when it comes to cryptocurrencies, this is worth a lot. Because trust is essential in this asset class. If you have a problem, you can actually reach someone who understands and helps you - unlike some other platforms, where you are often left out in the cold if you have difficulties.
Despite the Criticism of fee transparency our overall experience with Bitpanda has been positive. The one-stop shop solution impresses with its user-friendliness and comprehensive offering.
Tip for crypto beginners: For a comprehensive overview of all relevant trading platforms, I recommend our large crypto exchanges comparison for Swiss. There you will find a direct comparison of all the important providers and can find the platform that is best for you.
Your key to success! Discover our top recommendations from real testimonials.
Bitpanda cooperates with Blockpit for tax reporting, which simplifies the preparation of tax documents. As a Swiss investor, you should declare your crypto assets in the securities register of your tax return. You can use a custody account statement from Bitpanda (as at 31 December) for this purpose. Alternatively, Blockpit offers tax reports for a fee. If in doubt, we recommend consulting a tax advisor.
Yes, the Bitpanda Card is also available for Swiss users. It enables payments with the assets held on Bitpanda.
The 1.49% only applies to Bitcoin. For other currencies, the fees can be between 2-3%, depending on the liquidity of the respective coin. Alternatively, you could buy BEST first and then exchange it, which can reduce the fees.
Hello Eric
Can I also order the Bitpanda debit card if I live in Switzerland?
Kind regards
Antonia
Unfortunately, the fees are even higher than 1.49% :-/
Is (somewhat cryptically) also so deposited in the FAQ, 1.49% applies only to Bitcoin, for the other currencies it was in my experience 2-3%. Alternatively, you could first buy BEST and then swap, with the fees on Best, plus the swap, it probably comes out about the same... Too bad gibts there no transparency...
Otherwise, it was an easy entry into cryptos with Bitpanda, but I will no longer deposit more money there😅
Hello Stefan, the transparency and complexity of the fees could really be higher. But as you say, just for the simple start or to create savings plans Bitpanda is very suitable. Those who work with BEST can drastically save Bitpanda fees.
Hello, Eric,
What do you think of Swissquote for cryptos.
, buy fee for cryptos only 1%.
LG
Arun
Hello, Arun,
I personally feel that Swissquote lacks important features such as savings plans or staking. The selection is also not particularly large and it is not yet possible to invest in CHF. For me personally, there are therefore few arguments in favour of Swissquote as a crypto trading platform - unless you already have a custody account there and don't want to open another one elsewhere.
Of course, if you just want to trade something "for fun", it might be a different story. In my opinion, hodlers will find better places to go 🙂
Kind regards
Eric
Hello Eric
I am looking in vain for an easy way to avoid the annual EUR 199.00 for the "recommended" way with Blockpit.
Now, unfortunately, I haven't found a way on Bitpanda's web application to easily get a simple inventory view of my held cryptos as of 12/31 of each year.
In the "Portfolio overview" in Bitpanda you simply get ALL transactions. However, there is no filter/restriction by date.
How do you do that? Maybe you have another idea 🙂
Thank you already!
Hello Fastman
thanks for your input!
Since I only started testing with Bitpanda at the beginning of the year, there was no compulsion for me to list for tax yet.
A quick Google search led me to this: A tool for importing the route from numerous sources, where an overview for the tax can then be created. The basic version (limited to 100 entries for the tax) is free of charge. In the Pro version, the imports are automatically recorded via the blockchain - costs 11USD per month.
Can't say if this is good, accepted etc. but sounds very very exciting and is cheaper than Blockpit. Also providers like Bitcoinsuisse or Cake are supported 🙂 . https://cointracking.info/pro.php
How would I have to pay tax on Bitpanda's cryptos or declare them in my tax return? The company is based in Vienna and not in Switzerland? Do I get any documents from Bitpanda?
Thank you for the answers 🙂
Good question Elena, I have so directly forwarded to Bitpanda and will post you the answer here 🙂
here is the answer from Bitpanda: they refer to the blogpost about the cooperation with Blockpit https://blog.bitpanda.com/de/kryptowahrungen-und-steuern-werden-ab-sofort-einfacher-feiere-die-partnerschaft-zwischen-bitpanda-und-blockpit-mit-uns/
If this isn't for you, I would just show the assets via custodial statement and screenshot if need be.