Cryptocurrency frequently makes the news, as you may have noticed if you’ve ever read any financial headlines. The digital, decentralized currency is a popular choice for traders who want something outside the traditional asset norm. Having a lot to offer its clients, Bitvavo is a cryptocurrency broker. The exchange has developed over time to rank among the top digital asset exchanges in Europe.
The Bitvavo platform is very transparent and easy to use, and it has the most cutting-edge trading features in addition to low trading fees, high security standards, unmatched customer support, and quick transfers.
In this Bitvavo review, we’ll examine trading, exchange, limits, and costs in greater detail.
Introduction
To support the purchasing, storing, and trading of more than 150 cryptocurrencies, Bitvavo is a fully regulated digital asset exchange with a base in the EU. The exchange focuses on providing a broker-like trade experience with rates like an exchange.
Bitvavo, a 2017 startup with its head office in the Netherlands, is governed by the Dutch Finance Ministry (AFM) and Dutch Central Bank (DNB).
Supporting more than 150 cryptos, some of the more popular include Avalanche (AVAX), Binance Coin (BNB), Bitcoin (BTC), Cardano (ADA), Decentraland (MANA), Dogecoin (DOGE), Ethereum (ETH), Pancake Swap (CAKE), Shiba Inu Coin (SHIB), Solana (SOL), Ripple (XRP), the Sandbox (SAND), Terra (LUNA), and stablecoins including Tether (USDT) and USD Coin (USDC).
Bitvavo has a Europe-wide reach, providing services to more than 1 million users across 27 countries.
Top Bitvavo Features
- Broker-Like Experience. Though some features are, necessarily, different with Bitvavo because it only deals with cryptocurrencies, this exchange still keeps as true to the broker-like experience as possible.
- Regulation. You want to ensure that you’re dealing with reputable, verified exchanges when it comes to crypto brokers. Since Bitvavo is legal and fully functional in the EU (19 countries), it meets this criteria.
- Strong API. API stands for “Application Programming Interface,” and it refers to a software program that lets one app interact with another. Essentially, API acts as a messenger. It takes your requests, and reports them to the system that executes them. Bitvavo’s API is strong, meaning you’ll have a smooth trading experience, as far as the software goes.
- Asset-Backed Trading. This is essentially what it means when it comes to the ability for investors to access assets without creating the assets; it will be explained further below.
- Easy Staking. It is simple to stake cryptocurrencies with Bitvavo. Staking has the main advantage of allowing you to earn more cryptocurrency (up to 10% to 20%). Bitvavo is a very alluring exchange for cryptocurrency traders because of this feature.
- No Absolute Fees. Since everything with this broker is relative and dependent on the market and the particulars of each trade, there are no absolute fees.
Step-by-step How to Buy Crypto on Bitvavo
- Make sure you are fully verified.
- Click on Deposit credit to deposit credit with your preferred payment method.
- Decide which currency you want.
- Indicate the amount for which you want to buy crypto. The system will automatically calculate how much crypto you will receive.
- The fees you pay when trading on Bitvavo are transparent, and you can see them right away.
- Click Buy.
Your credit will be used in accordance with the order you place after the order has been processed immediately. You will find crypto in your personal wallet within seconds. You can use the Withdraw tab to send your crypto to an external wallet.
Bitvavo Fees
Trading Fees
The majority of exchanges and brokers impose trading commissions on actions taken through the platform. Fortunately, the Bitvavo trading platform is one of the cheapest exchanges available in Europe that offers extremely competitive trading fees that decrease as the trading volume increases. Bitvavo generates revenue similarly to other cryptocurrency exchanges, with taker fees and maker fees determined by the volume of trades made by investors over the previous 30 days. Staking interest on the exchange may increase to 10.5%. The full fee structure, including the maker fees and taker fees, has been shown below:-
| TRADING VOLUME | TAKER FEE | MAKER FEE |
|---|---|---|
| €0+ | 0.25% | 0.15% |
| €100 000+ | 0.20% | 0.10% |
| €250 000+ | 0.16% | 0.08% |
| €500 000+ | 0.12% | 0.06% |
| €1 000 000+ | 0.10% | 0.05% |
| €2 500 000+ | 0.08% | 0.04% |
| €5 000 000+ | 0.06% | 0.04% |
| €10 000 000+ | 0.05% | 0.03% |
| €25 000 000+ | 0.04% | 0.03% |
Deposit Fees
The exchange on Bitvavo levies a small fee for adding funds to the exchange account. Customers have access to eight different payment options, including Bancontact, Giropay, iDeal, MyBank, PayPal, and more. The absolute fees, relative fees, and the maximum amount of deposit that can be made are mentioned below:-
| DIRECT PAYMENT METHOD | ABSOLUTE FEES | RELATIVE FEES | MAXIMUM AMOUNT |
|---|---|---|---|
| Bancontact | €0 | 0% | €10,000 |
| EPS Überweisung | €0 | 1.75% | €1000 |
| Giropay | €0 | 1.75% | €1000 |
| iDeal | €0 | 0% | €10000 |
| MyBank | €0 | 1.50% | €5000 |
| PayPal | €0 | 2% | €10000 |
| SEPA Bank Transfer | €0 | 0% | – |
| SEPA Instant Transfer | €0 | 0% | €15000 |
| Sofort | €0 | 2.25% | €1000 |
Withdrawal Fees
Due to network congestion, Bitvavo exchange withdrawal fees for cryptocurrencies can differ. Investors will be charged a small Bitvavo fee, but they can deposit and withdraw their money in any supported cryptocurrency. While there are no fees for deposits, Bitvavo charges varying fees for withdrawals. Visit the official website of Bitvavo to learn more about the deposit and withdrawal fees that are assessed.
Bitvavo Payment Methods
This Bitvavo review cites the cryptocurrency trading platform as one of the most practical and secure ones. Several payments and transaction methods are available to deposit Euros on the exchange with variable trading fees, transfer speeds, and limits. The following are the 8 payment methods available at Bitvavo:-
| PAYMENT METHODS | MINIMUM DEPOSIT | MINIMUM WITHDRAWAL | TRANSFER SPEED |
|---|---|---|---|
| SEPA Bank Transfer | €30 | €25,000 per day | 2-5 business days |
| iDeal | No Limit | 0/2 BTC per day | Instant |
| SoFort | €5 | €10,000 | Instant |
| Giropay | €5 | €1,000 | Instant |
| MyBank | €5 | €5,000 | Instant |
| Bancontact | €5 | €10,000 | Instant |
| EPS Überweisug | €5 | €1,000 | Instant |
| SEPA Instant Transfer | €30 | €25,000 per day | 2-5 business days |
Bitvavo Mobile App
The most user-friendly interface can be found in the Bitvavo mobile application. The majority of the web terminal’s key features and capabilities, such as depositing and withdrawing money, verifying your identity, managing your staking activities, and making trades. However, the lack of sophisticated trading features in the mobile app can be disappointing for seasoned traders who need to manage their trades while on the go. The Bitvavo mobile app is fantastic and perfectly optimized for all iOS and Android users, with the exception of this drawback of not having an advanced interface.
Bitvavo Affiliate Program
Anyone registered with Bitvavo can become an affiliate and get a permanent, uncapped commission starting at 15% on trading fees paid by the users that have been referred. As the digital ecosystem develops, affiliate partners can benefit from the most reliable trading environment in addition to the fixed commission rates and generate passive income. Members at Bitvavo must register for an account and disseminate the referral link among their contacts or on social media. When they start trading, the affiliates start earning.
Bitvavo Security Measures
According to this Bitvavo review, keeping funds and personal and financial information safe is a top priority at Bitvavo. The website handles its customers’ funds in accordance with stringent security procedures to achieve this. By managing their enabled devices, setting up anti-phishing codes, and using the 2-factor authentication method, customers can protect their accounts. Moreover, if the company ever goes bankrupt, the funds will be available in a segregated account, known as Stichting Bitvavo Payments. Additionally, they can safeguard their funds by maintaining their address whitelist and limiting API access through IP whitelisting and permission-based access.
Traders can also learn about the security measures taken by Bitvavo to safeguard information, client funds, and the platform’s overall availability, including sophisticated monitoring and logging, a solid organizational structure, multi-signature cold wallet storage, routine external penetration tests, coding audits, and screening.
The majority of cryptocurrency assets are kept in cold wallets, and access to these wallets is controlled and monitored by strict security protocols. There are wallets of bank-grade that provide clients with constant monitoring and backup of important information. Last but not least, large transfers at Bitvavo can only be handled by a select group of executives and always need approval and manual verification from several people.
Bitvavo Customer Support
Bitvavo has a competent customer service team and a support page with materials and documentation on every subject a customer might be interested in. The support page addresses all frequently asked questions about setting up an account, managing it, making deposits and withdrawals, using the exchange platform, security procedures, managing API private keys, and corporate-related issues.
Bitvavo Review: Conclusion
This Bitvavo review will come to a conclusion by saying that it is unquestionably a great choice for European traders and investors who are both experienced and novices. It is completely affordable and compliant and offers a wide range of crypto assets. With its low trading fees, high security standards, unmatched customer support, quick transfers, and most cutting-edge trading features, Bitvavo is a top choice for all European traders. The Bitvavo platform is also incredibly transparent and easy to use.
