Bitpanda vs Coinbase vs Coinsbit [2021]

Bitpanda, Coinbase, and Coinsbit are three major crypto exchanges around the globe. Furthermore, in this article, we will cover almost all the products offered by the three platforms. We’ll also do a deep dive on their fees, security, and trading platforms.

Summary

Bitpanda vs Coinbase vs Coinsbit

What is Bitpanda?

Christian Trummer, Eric Demuth, Paul Klanschek founded Bitpanda in 2014. Bitpanda lets you trade, sell, buy and invest in cryptocurrencies, stocks, ETFs, and metals. Furthermore, the exchange offers a crypto card that you can use to pay for your expenses directly. To know more, you can check out our comprehensive Bitpanda review

Bitpanda

Bitpanda Products

On Bitpanda, you can exchange cryptocurrencies instantly, get higher limits and exclusive discounts. Now, let us talk about all of Bitpanda’s essential features in detail.

Coinbase vs Bitpanda vs Coinsbit: Bitpanda Pro

Bitpanda Pro caters to professionals and businesses. Here, they can not only trade but also connect trading bots to Bitpanda Pro’s API. It is a highly liquid marketplace that provides price matching capabilities, professional trading solutions, and fully automated clearing. On Bitpanda Pro, traders can trade crypto assets everywhere except China and the USA.

Bitpanda Pro
Bitpanda Pro

BEST Reward

You can earn up to 0.50% of your BEST holdings after trading at least once every month. As a result, such rewards assist you in hoarding up to 12.78% of additional BEST Rewards. Furthermore, you can get up to 0.35%, depending on your total amount traded in the previous month.

Bitpanda Pay

Bitpanda payment service offers a euro wallet that allows to transfer of money across almost all IBANs in the European Union and beyond. This service lets you can rent, pay, shop, and even send money. However, you require a fully verified account to use this complimentary service.

Bitpanda Pay
Bitpanda Pay

Coinbase vs Bitpanda vs Coinsbit: Savings Plan

Bitpanda provides a Savings plan service to earn passive income on your crypto HODLings. For example, you intend to purchase shares from a company, but they are too expensive for a one-shot payment. Well, this feature allows you to spread out all of your payments over a given time.

Bitpanda Swap

If you want to instantly exchange one digital asset with another, then “Bitpanda Swap” is for you. There are zero limits on the transaction size of swaps.

Bitpanda Card

Visa backs Bitpanda’s debit card, and you can use this card wherever Visa is accepted. This debit card lets you spend stocks, cryptos, and even metals. There is no monthly cost, and the initial shipment is free as well. Furthermore, if you are the BEST VIP, you can receive a maximum cashback of 2% in Bitcoin and 0.75% to 2.25% off the forex fees. 

You can block and unblock your card with just a tap. Most importantly, Bitpanda utilizes 3DS protection as an extra security layer. Get the Bitpanda mobile app to track any purchases and receive notifications. 

What are the Bitpanda card limits?

€350 is the daily ATM withdrawal limit, and €10,000 is the daily expenditure limit. However, weekly or monthly limits are not present. 

Bitpanda To Go

The Bitpanda To Go service lets you purchase cash-equivalent coupon codes/ vouchers in 400 branches and around 1350 partners throughout Austria. Notably, you require a verified account to access the vouchers. 

Coinbase vs Bitpanda vs Coinsbit: Pantos

The first multi-blockchain system is Pantos. This initiative intends to create token projects independent of a specific blockchain. This is an easy e-money solution for inter-company/ bank payments. For example, Pantos (PAN) withdrawal and deposit features have been implemented successfully by Bitpanda. Therefore, you can deposit and withdraw PAN as an ERC20 token on the Ethereum blockchain.

Pantos
Pantos

BEST Token

Bitpanda’s Ecosystem Token is known as BEST. You can use BEST for paying the trading premiums and thereby benefit from comparatively lower fees. All the other benefits are given below:

  • If you use a credit card, the deposit fee is 20% lower. 
  • Using SOFORT will lead to 25% lower deposit fees. 
  • The company burns 50% of BEST quarterly to ensure that the company has ample cash left after operating expenses. Therefore, Bitpanda can generate positive free cash flow to improve shareholders’ value. 
  • If you have a minimum of 5000 BEST in your Bitpanda wallet, you will receive the BEST VIP votes.

Bitpanda Plus

Bitpanda Plus offers exclusive discounts and higher limits to traders who want to invest big amounts. If you buy or sell more than €1 million, then Bitpanda offers OTC services. 

Bitpanda Plus
Bitpanda Plus

Extraordinary benefits of Bitpanda Plus are as follows:

  • Key Account Managers of Bitpanda Plus offer special support.
  • You get increased withdrawal and deposit limits.
  • You can have a direct impact on upcoming features and asset listings.
  • Get personalized updates on new features and products. 
  • If you request, then payment fees and trading premiums will be reduced. 
  • There is a facility to block certain deposit and payout methods.

Bitpanda Fees

Bitpanda’s selling fees are 1.29%, and buying fees are 1.49%. An additional fee will be applied if you pay via any payment method other than a bank transfer. However, there are no fees and limits for sending cryptocurrencies to other Bitpanda users or making any internal wallet transfer. Notably, the trading premiums can be reduced by up to 20% if you pay with Bitpanda’s Ecosystem Token (BEST).

Bitpanda Pro: Fees

The fees schedule of Bitpanda pro is in the below table. Furthermore, there is no trading limit is there on Bitpanda. 

Bitpanda Pro: Fees
Bitpanda Pro: Fees

Buying limits for light and fully verified account on Bitpanda

These are the buying limits for different types of verification statuses:

  1. If you only have a verified email, you can’t purchase Bitcoin, but you can sell Bitcoin worth 1000 EUR per day.  
  2. Furthermore, if you have a verified phone number, then you can purchase up to 50 EUR per day with any payment method except a credit card. 
  3. Finally, if you have a verified ID, then you can utilize every payment method. Furthermore, you can purchase Bitcoin worth 350 EUR per day with a credit card. Notably, you can purchase Bitcoin worth 5000 EUR per day. If you use other payment methods, then you can buy 350 EUR per day. 

Deposit and withdrawal limit

Bitpanda provides high limits to verified users, which are dependent on their payment methods. In addition, daily limits exist and are relevant within 24 hours. These daily limits start when you make your most recent withdrawal or deposit.

The limits vary depending on your verification status and payment method, but the general limit layout is given here. After complete verification, the daily limits are as follows:

  • Online payments like Ideal, NETELLER, and Skrill- EUR 10,000
  • Credit card deposits- EUR 2,500
  • Online bank transfer deposits- EUR 500,000
What is the minimum amount required for withdrawals and deposits?

The minimum amount required for withdrawals and deposits is EUR 25 (or GBP 25, USD 25, TRY 100, CHF 25). 

What is the minimum amount required for selling and buying?

The minimum amount for selling and buying is EUR 1.00 (or GBP 1.00, TRY 10, USD 1.50, CHF 1.50).  

Bitpanda APP

First, Bitpanda is famous for its neat, straightforward, and intricately designed user interface. So even if you are a beginner, you won’t have any trouble while trading. Furthermore, Bitpanda has a secure, straightforward, and reliable mobile app on Android and iOS.

Bitpanda APP
Bitpanda APP

Supported Cryptocurrencies and Countries

Bitpanda currently supports GBP, EUR, CHF, or USD in fiat currencies. This exchange supports around 50 cryptocurrencies like Bitcoin, Ethereum, Litecoin, Ripple, Dash, Bitcoin Cash, etc.

Bitpanda is based out of Austria and is accessible to everyone across the globe. Users from Europe within Iceland and the SEPA, Monaco, Liechtenstein, Norway, and Switzerland can buy cryptocurrencies. The users out of the regions mentioned above are capable of storing and selling cryptocurrencies. Additionally, they are capable of selling cryptocurrencies and receiving payouts. 

Coinbase vs Bitpanda vs Coinsbit: Bitpanda Security

Bitpanda has now upgraded its local license and received the status of an investment firm, which stands approved by the country’s financial regulator, FMA (Finanzmarktaufsicht). Additionally, Bitpanda got the new license only a few months after registering its services in France with the AMF (Autorité des marchés financiers). 

Security is taken very seriously by Bitpanda, and these are the following steps that it takes to ensure the same:

  • KYC verification is compulsory.
  • Secure offline wallets are used to store your funds.
  • Bitpanda utilizes SSL encryptions. 
  • It provides DDOS protection.
  • It also provides Two-factor Authentication.
  • You can freeze the account whenever you intend to do so. 

What is Coinbase?

Coinbase was established in 2012 by Fred Ehrsam and Brian Armstrong. It is a regulated cryptocurrency exchange. The exchange has improved the platform constantly with the evolution of trading options and crypto-assets. 

Most importantly, this exchange intends to develop a more transparent, fair, reliable, and efficient financial system powered by cryptocurrency. Although this exchange charges high fees, it makes buying crypto-assets pretty easy. To learn more, read the Coinbase review.

Coinbase

Products by Coinbase

Coinbase Wallet

The Coinbase wallets let you store as well as manage your crypto assets. Furthermore, they are not only easy to use but also completely secure. Additionally, you can receive or send money fast by utilizing your friends’ usernames. To learn more, read the Coinbase Wallet review.

Coinbase Wallet
Coinbase Wallet

Coinbase Commerce

On Coinbase, e-commerce merchants can receive cryptocurrencies on their websites from any part of the world. Now, customers can complete transactions on the website effortlessly and safely because of the powerful plugin and advanced public keys.

Coinsbit vs Coinbase vs Bitpanda: Coinbase Everything

Once you log into your account, you can directly go to the ‘For You’ option available on the left sidebar in your dashboard. This is the tab where Coinbase offers useful educational content as well as news related to cryptocurrency.

Coinbase Staking

Customers of Coinbase can make use of these protocols. In addition, users can stake their currencies on the Coinbase platform, and Coinbase will participate in these networks and distribute the profits to those who have staked their coins. To learn more, read Coinbase Staking.

Coinbase Staking
Coinbase Staking

Coinbase Custody

It provides reliable and advanced custody-related solutions in this world and supports every crypto asset that investors admire. Coinbase Custody is an independent NYDFS (New York Department of Financial Services). 

Coinsbit vs Coinbase vs Bitpanda: USDC

USDC is a stable coin, and you can always redeem 1 USDC at the price of 1 US dollar. Furthermore, Coinbase lets potential customers earn impressive awards for holding USDC.

Coinbase Pro

If you are an advanced-level trader, then Coinbase Pro is the perfect option for you. It offers superior options for trading. On Coinbase Pro, limit, market, and stop orders are available with comparably low fees. Furthermore, this exchange has better and innovative charting capabilities with extra trading tools. 

Coinbase Pro
Coinbase Pro

Coinbase Prime

The Prime mode is for large financial organizations and institutional investors. It is compliant, regulated, and safe. Moreover, it has cold storage backed with insurance. Lastly, it can also access the fully-featured Coinbase trading API. 

Coinsbit vs Coinbase vs Bitpanda: Coinbase Card

On April 11, 2019, Coinbase announced the launch of its Visa debit card. It allows you to spend your cryptos wherever you choose without keeping a fiat money balance in your Coinbase account. Instead, it instantly converts crypto to money on demand. This is unusual since few bitcoin exchanges allow you to do so. To learn more, read the Coinbase Card review.

Coinbase Card Review
Coinbase Card Review

Ventures

Coinbase ventures invest in new and rudimentary crypto start-ups with brilliant ideas. You can gather more information on this by referring to the announcement blog post

Coinbase Fees

The fee structure of Coinbase varies, depending on the type of transaction and country. In addition, Coinbase’s deposit fees may vary depending on the payment method you choose. To learn more, read Coinbase Fees.

Coinbase Fee for US customers
Coinbase Fee for US customers

The general overview of Coinbase fees is given below-

  • Spread fees are roughly about 0.50%, and please note that it is approximate. The exact fees do vary according to fluctuations in the price of cryptocurrencies available on Coinbase Pro. 
  • The fiat fees do range anywhere between $0.99 to $2.99. The fiat fees ultimately depend on the number of transactions that you complete. 
  • Please remember that Coinbase does not charge any fees at all for digital conversions. However, the spread margin on such conversions is around 2%. 

Coinbase pro makes you pay a taker fee anywhere from 0.04% to 0.5%, depending on a tiered system.

Coinbase Maker and Taker Fee
Coinbase Maker and Taker Fee

Transaction limits on Coinbase

The buying limit depends on the level of account you own. If you intend to go for higher limits, you must fully verify your identity. For example, a fully verified US trader can make transactions up to $50,000 per week. Furthermore,

  • You can withdraw up to your maximum available balance. 
  • You have to unlock level 3 to send and receive money through Blockchain. In level 3, you need to present a valid state ID.
  • Get more information on levels and limits by visiting Coinbase Help Center.

Coinbase App

Coinbase is well-known for its easy-to-use interface. Each page consists of illustrations, which make it highly engaging to interact with this exchange. Furthermore, Coinbase has an Android and iOS mobile app. It offers a simple and safe way to purchase, sell and manage digital currency.

Supported Cryptocurrencies and Countries

There are 70+ cryptocurrencies on Coinbase. You can check out the list of all the assets by visiting Coinbase supportFurthermore, Coinbase is available in 100+ countries. You can check if Coinbase is available in your country. 

Coinsbit vs Coinbase vs Bitpanda: Coinbase Security

Coinbase is amongst the very few exchanges that offer insurance through FDIC. In addition, Coinbase is from the USA so, it has to comply with US regulatory security standards. Besides all this, Coinbase claims to store 95% of its users’ funds offline in cold storage hardware wallets. Furthermore, the rest of the funds have been insured and stay in hot wallets. 

Also, read Top 5 Coinbase Alternatives.

What is Coinsbit?

Coinsbit was founded by Prilepa Bohdan in 2018 and is based out of Estonia. However, there is no information available about the founders, employees of the company, or the company itself. It has 73 active markets with digital assets such as Bitcoin, Litecoin, and Ethereum. Furthermore, it has a decent collection of stablecoins for trading. Therefore, not only crypto-to-crypto but fiat-to-crypto trading is also available on Coinsbit. 

Coinsbit

Coinsbit Products

OTC Platform

You can purchase and sell cryptocurrency safely and quickly. OTC transactions can now be carried out on OTC Coinsbit. Notably, every transaction is carried out based on the escrow principle. This guarantees the reception of fiat funds or cryptocurrency. 

Bitpanda vs Coinsbit vs Coinbase: CNB token

CNB is Coinsbit’s token, and its benefits are listed below:

  • This token can fetch you a higher cashback rate and reduce commissions up to 50%. This service has to be paid in CNB coins. 
  • You can receive higher payouts or referrals by keeping a minimum deposit balance in CNB coins, which is 1000 CNB. 
  • Receive unique offers while using Coinsbit products: special interest conditions on a P2P lending platform secured by cryptocurrency; increased interest on special offers.
Benefits of CNB
Benefits of CNB

Coinsbit store

Coinsbit store is the world’s first online store that lets you buy goods with cryptocurrency. In addition, Coinsbit has assembled the greatest offers from the largest online stores in the world. Use your exchange account to buy goods from anywhere in the world. 

Coinsbit store
Coinsbit store

Staking Pool

Staking Pool allows you to avoid risks and earn a passive income on your crypto by staking coins that are not in use. In addition, the Staking Pool lets developers promote their projects and allows the users to make safe profits.

Also, read Staking Crypto – An Ultimate Guide on Crypto Staking.

Bitpanda vs Coinsbit vs Coinbase: P2P Loans

Coinsbit allows you to not only take loans but also act as a lender. You can receive or create P2P loans on Coinsbit. 

Bitpanda vs Coinsbit vs Coinbase: Coinsbit P2P Loans
Bitpanda vs Coinsbit vs Coinbase: Coinsbit P2P Loans

Coinsbit Fees

Coinsbit Trading fees

On Coinsbit, the fee is 0.2% of the order value. This fee (0.2%) is in line with the industry or even below the industry average.

Withdrawal Fees

Coinsbit charges a withdrawal fee of 0.0012 BTC per BTC. Notably, this is slightly above the industry average, which is 0.000812 BTC per BTC withdrawal. You can check the fee for the deposit, withdrawal, minimum deposit, and minimum withdrawal of each crypto asset by visiting the Coinsbit Fee Schedule

Withdrawal Limits

You have to check what limit your account falls under: 

  1. New Accounts: 0 USD (or equivalent) is the withdrawal limit for newly created accounts.
  2. Basic Accounts: 500 USD (or equivalent) is the withdrawal limit per 24h for basic accounts.  
  3. Enhanced Accounts: When two-factor is enabled, 100,000 USD (or equivalent) is the withdrawal limit per 24h. Verification is required. 

Coinsbit App

Coinsbit has a convenient and straightforward user interface. Furthermore, the platform has mobile apps for iOS and Android. Therefore, join the trade quickly with simple charts, an intuitive order system, and an elegant interface.

Coinsbit App
Coinsbit App

Supported Cryptocurrencies and Countries

Coinsbit has 60+ listed cryptocurrencies. Furthermore, the exchange is available all over the world except the USA and Canada. However, you should check availability in your country at the time of signing up.

Bitpanda vs Coinsbit vs Coinbase: Coinsbit Security

Coinsbit received a security evaluation certificate from HackControl LLC, which states that this exchange is highly secure. Coinsbit strives very hard to maintain and improve the level of security. It has a WAF (Web Application Firewall), which detects and blocks hackers’ attacks. Furthermore, Coinsbit has the latest security systems and technologies. Lastly, more than 95% of assets are stored in cold wallets. Coinsbit also provides two-factor authentication for added security. 

Bitpanda vs Coinsbit vs Coinbase: Conclusion

All of the three platforms have their own perks. For instance, Bitpanda offers various services in Europe such as Bitpanda Pro, Swap, BEST tokens, Bitpanda Pay, Crypto debit card, etc. Furthermore, Coinbase is a US-regulated crypto exchange that provides products such as Coinbase Crypto card, Staking, custody, wallet, etc. Finally, Coinsbit also offers various features such as P2P loans, Coinsbit store, staking pools, etc. Hence, you can go with any one of the platforms that fit your needs perfectly.

Frequently Asked Questions

Is Bitpanda trustworthy?

Bitpanda is based out of Austria. This exchange is trustworthy because it is a registered digital asset provider Austrian Financial Market Authority (FMA), and holds a PSD2 license. 

Where is Coinbase located?

Coinbase has no headquarters as it is a decentralized company. 

Does Coinbase have a mobile application?

Yes, Coinbase has an app for both iOS and Android. 

Does Coinsbit have a token? 

CNB is Coinsbit’s token. There are many perks of using CNB. 

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