Bitpanda vs Bitstamp | Which One Of These Should You Use?
Jack Moreau
Apr 2024
9 min read
Fact checked
Are you torn between Bitpanda and Bitstamp? Not sure which cryptocurrency exchange is the best fit for you? Look no further. Our team has done the heavy research for you thoroughly examining everything from signup and KYC to trading fees and product and features, user experience, and more. Discover which exchange comes out on top based on our comprehensive comparison!
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Bitpanda and Bitstamp are two of the most popular cryptocurrency exchanges in the market.
While Bitpanda is relatively new, having been founded in 2014, Bitstamp has been around since 2011 making it the oldest continuously-operating cryptocurrency exchange globally.
Bitstamp exchange
Both platforms have their unique strengths and weaknesses, making them ideal for different types of users. Bitpanda is a cryptocurrency broker based in Austria that specializes in buying and selling cryptocurrencies, stocks, ETFs, and commodities like gold and silver.
Bitpanda exchange
It has a wide selection of stocks and ETFs and provides access to its trading platform through its exchange available via browser and mobile app.
Bitpanda primarily services European countries and is available in all the European countries in addition to Switzerland, UK, Turkey, and UAE.
Bitpanda is also popular for its support for over 100 cryptocurrencies, including BTC, ETH, SOL, and fan tokens such as Barcelona FC and Manchester City.
On the other hand, Bitstamp is a UK-based exchange and is available in 100 countries. It has over four million customers and is known for its secure and transparent platform.
Bitstamp supports over 80 cryptocurrencies, including BTC, ETH, LTC, XRP, USDT, USDC, and more. Bitstamp has also been downloaded over 500,000 times with a weak 3.7-star rating based on 12,000 reviews.
Bitstamp app
In terms of usability, Bitpanda has a user-friendly interface, making it accessible to both beginner and advanced traders. Bitpanda has over four million users and over one million app downloads.
Bitpanda app
Bitpanda vs Bitstamp Signup & KYC
Bitpanda and Bitstamp are two exchanges that both require KYC verification before users can access their full range of services. Creating an account on Bitpanda is a smooth process that requires only basic information such as full name, email and country of residence.
Bitpanda signup
Once the confirmation email is approved, users can access their account but won't be able to use it until they complete the KYC process. This involves uploading a passport and a selfie which can be verified within 20 minutes in the best of cases but may take up to 2 business days for some users.
Bitstamp's signup process is equally easy and takes less than a minute to complete. Basic information such as full name, email, date of birth and country of residence is required. Once the account is created, users need to complete the KYC verification process by uploading a government ID and a selfie.
Bitstamp verification
The verification process can take up to 5 days to complete if all the required documents have been received. Overall, both exchanges have a similar process for signing up and completing KYC verification. For those that prefer trading without KYC, we recommend alternative exchanges such as OKX and Phemex.
Bitpanda vs Bitstamp Products & Services
Bitpanda and Bitstamp are two European-based exchanges that offer different products and services to their users. Bitpanda is a one-stop-shop for investing in over 100 cryptocurrencies and 100s of stocks, ETFs, crypto indices, precious metals, and commodities.
Bitpanda products and services
The exchange provides exposure to over 2000 digital assets, and users can also stake their crypto and earn rewards. Bitpanda has done an excellent job when it comes to the user experience, offering a beginner-friendly and easy-to-navigate website. Their Bitpanda card lets users spend their crypto, and they also offer an institutional custody service.
Bitpanda digital assets
On the other hand, Bitstamp offers a more limited range of products, including spot trading and staking for ETH and ALGO. The exchange has a user-friendly platform that makes it easy to buy and sell crypto either through the exchange or via the app.
Bitstamp spot trading
The website is easy to navigate as the company only offers a limited selection of crypto products, and their average daily spot trading volume is $140 million. While Bitpanda offers a wide range of investment options, Bitstamp focuses on providing a simple and easy-to-use platform for mainly buying and selling cryptocurrencies.
When it comes to trading fees, Bitpanda and Bitstamp offer different rates for their services. Let's take a closer look at what each one charges.
First up is Bitpanda, which only offers spot trading but has a maximum maker fee of 0.15% which can be lowered if a user's trading volume exceeds 100,000 EURO during a 30 day period. The maximum taker fee is slightly higher at 0.25%, but can also be lowered for with higher trading volumes. For being a beginner friendly exchange, Bitpanda has really done a great job pushing down their spot fees.
Bitpanda spot fees
On the other hand, Bitstamp charges a higher spot maker fee of 0.30% and taker fee of 0.40%. Similar to Bitpanda, Bitstamp also offer rebates for higher trading volumes during a 30-day period. For example, users would need to trade for more than $10,000 during a 30-day period to be eligible for lower fees.
Bitstamp spot fees
In short, Bitpanda has quite a bit lower trading fees than Bitstamp while both exchanges have volume based discounts.
When it comes to deposit methods, Bitpanda supports bank deposits for a wide range of European fiat currencies such as EUR, GBP, CHF as well as others. Fiat deposits can be made either via bank transfers (SEPA) with a minimum deposit of EUR 25, or via credit card (Visa and Mastercard), as well as Neteller and Skrill. There are different fees associated with each method, ranging from free deposits with SEPA to a fee of 1.8% for Visa and Mastercard deposits.
Bitpanda fiat deposits
On the other hand, Bitstamp supports fiat deposits for USD, EUR and GBP via Wire, ACH, SEPA, Faster Payments, and via debit/credit card. ACH, SEPA and Faster Payments deposits are free of charge, while instant purchases come with a 4-5% fee and Wire Transfers have a minimum $7.5 fee.
Bank deposits on Bitstamp
Both Bitpanda and Bitstamp has done a great job providing cheap to free fiat deposit options for a wide range of European currencies.
Bitpanda and Bitstamp offer a variety of withdrawal methods for their users. Let's take a closer look at the withdrawal methods offered by each exchange and their associated fees.
Bitpanda allows users to withdraw their fiat money from their wallet via bank transfer (SEPA) for EUR, GBP, and CHF. The minimum withdrawal amount is EUR 25 and comes free of charge.
In terms of crypto withdrawal fees, when withdrawing Bitcoin, Bitpanda charges a 0.00006 BTC fee, and a 0.0011 ETH fee when withdrawing Ethereum. Withdrawing SOL comes with a 0.0001 SOL fee,while withdrawing ERC-20 USDT comes with a 4.44 USDT fee. These are nice and low withdrawal fees, well done Bitpanda.
On the other hand, Bitstamp offers fiat withdrawals via Wire, ACH, SEPA, and FSP. Users are charged 3 EUR for SEPA withdrawals, 2 GBP via FSP, no cost via ACH and $25 for Wire withdrawals. Moving on to crypto fees, Bitstamp charges a 0.0005 BTC fee when withdrawing Bitcoin, a 0.0006 ETH fee when withdrawing ETH, and a 0.01 SOL fee when withdrawing SOL.
In conclusion, both Bitpanda and Bitstamp offer a good range of withdrawal methods for fiat money and cryptocurrencies. Bitpanda's withdrawal fees are generally lower than Bitstamp's both for fiat and cryptocurrencies.
In conclusion, Bitpanda and Bitstamp are two popular cryptocurrency exchanges that cater to different types of users.
Bitpanda offers a wider range of traditional financial products, including over 100 cryptocurrencies, 100s of stocks, ETFs, crypto indices, precious metals, and commodities, making it ideal for those who want to diversify their portfolio all in on place. Like Bitstamp, Bitpanda requires all of it's users to KYC in order to use it's services.
Bitstamp on the other hand provides a simple (too simple in our opinion) and easy-to-use platform mainly for buying and selling cryptocurrencies a selection of +80 cryptocurrencies. This is really a very basic exchange tailored to beginners. When it comes to trading fees, Bitpanda has lower fees for spot trading than Bitstamp while both exchanges offer rebates for high volume traders.
In terms of deposit and withdrawal methods, both Bitpanda and Bitstamp provide support for easily and cheaply moving big fiat currencies such as EUR, GBP and others in and out of their exchanges. Overall, we are very impressed by Bitpanda for having created a fantastic users experience with a wide range of financial products while keeping the trading fees low. Unfortunately, Bitstamp is just too basic for our liking.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
