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BitPanda

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Company Name

Bitpanda

Founder Name

Eric Demuth, Paul Klanschek and Christian Trummer

Name

BitPanda

Wallet type

Mobile, Web

Location

Vienna, Austria

Country

Austria

Two-Factor Authentication

Yes

Multi-factor Authentication

No

Own private keys

No

Overview

Bitpanda is one of the most popular services in Europe, available on the market since 2014, which buys and sells Bitcoins, Ethereum, Dash, Litecoin and BitcoinCash. Cryptocurrencies are stored online, which has its advantages and disadvantages you should know.

 

BitPanda, formerly known as Coinimal, is an online wallet with its own shopping center, which allows users to buy cryptocurrencies for electronic currency (EUR) and receive them in a few minutes.

 

Bitpanda offers 2-factor authentication and several cryptocurrency payment methods for purchases like Visa, Mastercard, Skrill, OKPay, PayPal, SOFORT Überweisung (Sofort AG), NETELLER, SEPA (European Bank Transfer), EPS (Austrian Instant Bank Transfer), Skrill OBT (Online Bank Transfer).  The wallet offers coupons as well and creates special lotteries.

 

How to buy?

Using the BitPanda wallet is free and possible after registration and logging in. However, fees are being charged for transactions, and the amount depends on the network of the cryptocurrency. It’s free to send currency to your BitPanda account.

 

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Advantages

  1. Two-factor authentication
  2. Many payment methods for purchases

 

Disadvantages

  1. Low level of security and anonymity
  2. Not hierarchically deterministic
  3. It is not open source
  4. No multi-signature

 

Conclusion

Bitpanda is one of the greatest names when looking for a reliable exchange to buy cryptocurrencies, and it is no surprise that the same reputation is applied to this wallet. It is also a good thing that they give so much importance to the security of funds for their clients. Their customer service as well as getting good reviews.

Pros & Cons
  • Fast, secure, reliable and low fees
  • There is no Hierarchical Deterministic, Open Source and not Multi-Signature
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