There's a lot of debate over which of the many cryptocurrency exchanges is the best, and why. Currently, Coinbase is widely seen as the top player, while Bitpanda is running close behind and may take the win. Keep yourself informed or you might fall behind in the crypto game!
Are you trying to choose between investing in Bitpanda vs Coinbase? Read on for helpful insight into the two.
Coinbase Overview
Launched in 2012 in San Francisco, California, this U.S. company is under the thumb of the country's laws and regulations. This includes the Bank Secrecy Act, the USA Patriot Act, and any state laws and regulations surrounding money transmission. Coinbase is also registered with FinCEN (Financial Crime Enforcement) as a Money Service Business.
These laws and regulations, in turn, hold Coinbase accountable for its actions. However, many offshore competitors don't need to follow these strict regulations, making them a bit riskier to work with. This is one of the reasons Coinbase is considered one of the top cryptocurrency exchanges right now (2021).
For more information about Coinbase, check out our comprehensive review: Coinbase Review: What You Need to Know Before Using it.
Bitpanda Overview
The cryptocurrency exchange Bitpanda, which was started in 2014, is used for buying and selling Bitcoins anywhere in the world. Its main focus is to dominate the market within the Eurozone. Bitpanda has grown by leaps and bounds and is now known in Europe to be a huge competitor in the crypto exchange market.
Bitpanda vs Coinbase Fees
Bitcoin fees for withdrawal are at 1.49% to buy and 1.29% to sell through Bitpanda. Bitpanda is currently one of the least expensive exchanges for the instant buying and selling of Bitcoin.
Coinbase fees are around 3.99% for a credit/debit card purchase and 1.49% for a bank transfer purchase. So, in the battle between Bitpanda fees vs Coinbase, Bitpanda wins as the cheapest.
Comparing Buying Limits
New Coinbase users have varying limits depending on things like buying history, account age & verification, and country. If you want higher limits, your identity needs to be verified during your application.
Once your identity is verified, your limits are revealed. A U.S. resident can do a maximum of $50,000 worth of transactions per week. EU customers are allowed to have up to $30,000 in an account at any given time.
Your buying limits are dependent on what account type you hold. Are you "light verified" or "verified"? Buying limits are also dependent on the payment methods.
Coinbase Light Verified Accounts
Users with "light verified" accounts won't be able to withdraw or deposit anything with Zimpler or credit cards. If this is you, you're restricted to bank transfers. You'll have a daily deposit limit of 50k€ and a withdrawal limit of 500k.
Coinbase Fully Verified Accounts
Those with fully verified accounts may deposit a maximum of 10,000 EUR in any 24 hour period using NETELLER and Skrill. Using a credit card, Zimpler, or iDEAL, you have a 24-hour maximum of 2,500 EUR. If you're using Bank transfers (SEPA), you may deposit a maximum of 49,999 EUR in any given 24-hour period.
Supported Countries
Coinbase has a broad reach. It supports exchanges in the countries of Australia, Austria, Belgium, Bulgaria, Canada, and more. Bitpanda supports exchanges in several countries, but Bitpanda USA and China don't exist for regulatory reasons. Here is a list of countries Bitpanda supports.
Supported Coins
Non-Pro users of Coinbase can use Bitcoin Cash, Bitcoin, Ethereum Classic, Ethereum, XRP, USD Coin, Zcash, Stellar, 0x, the Basic Attention Token, and Litecoin.
Bitpanda has an ever-expanding list, but it currently supports Bitcoin, Litecoin, Ethereum, DASH, XRP, Waves, IOTA, EOS, BCH, ADA, Tron, BAT, Lisk, Cosmos, ETC, NEO, XLM, Tezos, ZCASH, Augur, 0x, LINK, OMG and Bitpanda's native tokens Pantos and BEST.
Deposit & Withdrawal Methods
Coinbase supports three payment methods: bank account, debit card, and wire transfer. For withdrawals, Coinbase offers an additional method: using PayPal.
If you're a verified user and you're using Bitpanda to deposit fiat money into your Euro Wallet, you have many options, including GIROPAY/EPS, SEPA, iDEAL, NETELLER, SOFORT, Skrill, Zimpler, Mastercard, and Visa. "Bitpanda To-Go" vouchers can be traded in for crypto.
If you're verified, you can deposit using Skrill, Visa, and Mastercard into your USD Wallet. EURO users are able to withdraw using SEPA, amazon.de, NETELLER, and Skrill.USD users are limited to Skrill.
Comparing Customer Support
Don't try to call Coinbase, because their customer support is strictly handled via email. They are fast, though, usually responding within 24-72 hours. Bitpanda, on the other hand, has a comprehensive support helpdesk.
More Features
The rapidly growing Coinbase is expanding into other areas of the crypto world. Many of its new services are aimed at institutions. These services include Coinbase Staking, Coinbase Prime, and Coinbase Custody. You'll also find that Coinbase has a "Coinbase Pro" platform aimed at day-traders, which gives the trader their own wallet (a Web 3.0 browser).
Bitpanda has followed suit in similar ways to Coinbase and Binance. Bitpanda launched their own signature token with a similar incentive structure to that of Binance's BNB. Additionally, they recently launched Bitpanda Swaps, Bitpanda Staking, and Bitpanda Metals, which cater more to those wanting to grow and manage digital assets.
More Comparisons
When comparing Bitpanda vs Kraken, for example, we see that Kraken offers more value for your money. Kraken also has better customer support.
If you're interested in Crypto.com vs Coinbase, this is a great article. Looking into Bitpanda vs Revolut, you'll see that Revolut supports only 5 coins. This might be a make-or-break for you.
If you're curious about Bitpanda vs Bitpanda Pro, you'll find that Pro isn't just for institutions. It's also enjoyed by experienced traders who want access to more professional tools. Does that sound like you?
Compare with the best alternative exchanges
| Exchange | ||
|---|---|---|
| Nexo | Best overall crypto lending platform. | Go to site → |
| CoinLoan | Best for crypto loan borrowers. | Go to site → |
| YouHodler | Most versatile crypto lending platform. | Go to site → |
| Bit.com | Best crypto derivatives platform. | Go to site → |
| Matrixport | Best for institutional investors. | Go to site → |
| Gemini | Best crypto exchange for U.S. investors. | Go to site → |
| Binance | Best overall crypto exchange. | Go to site → |
| Kraken | Best U.S. crypto exchange for advanced traders. | Go to site → |
Who Wins: Bitpanda vs Coinbase?
Are we comparing apples to oranges, or is there a clear winner? Each has its appealing features depending on your plans and interests. So take into consideration, for example, that Bitpanda has cheaper fees, but they aren't as transparent about them.
Think about supported currencies and countries, Bitpanda having a slight advantage in that they're more quickly adding new ones. Think about regulations: Coinbase is currently on top, but Bitpanda is strongly regulated as well.
Bitpanda vs Coinbase is tied for security and reputation. Bitpanda has more advanced trading features, but Coinbase will likely catch up soon. Draw your own conclusion for your specific situation and you'll be just fine.
Check out our Coinbase card review and explore more of our site!