Bitvavo Review
In this Bitvavo review you will learn about the European market leader in the crypto industry. We will explore the pros and cons of this site, but of course the disadvantages. As we exchange Bitvavo and with other parties, we can make a good comparison between different sites.
In other words, you know the following about Pitavao:
Pros and cons of the platform.
Then background information and the security of your funds.
A guide on how to use the platform.
Fees and comparison with other brokers.
Bitvavo Security.
On this page you also have the opportunity to leave your experience through our rating system.
Job 1.000 euro Bitvavo welcome bonus.
5
5 out of 5 rating
5 out of 5 stars (based on 5 reviews)
big 100%
very good 0%
average 0%
not good 0%
awesome 0%
trade 1.000 euro for free
Interpret Bitvavo readings
Bitvavo review summary
Bitvavo was founded in 2017, they started out as a broker, but quickly moved to an actual exchange. It is allowed to offer fixed payment methods such as credit cards and bank transfers with very low trading fees. While some competitors charge up to 3% per transaction, Bitvavo charges a maximum of 0.25% per transaction.
The site is suitable for new users with a basic interface, but also for experienced traders due to the advanced interface. This means you don't need to change sites if you want to trade with advanced orders and tools.
With Bitwavo you can get 10.50% interest on your crypto, your built-in wallet is insured and registered with the Dutch Central Bank.
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Company details |
Bitvavo B.V. Herengracht 450, 1017 CA Amsterdam (The
Netherlands). |
|
Regulation |
Bitvavo is registered with the Dutch Central Bank (DNB). |
|
Offer |
58 cryptos, check out their full offer |
|
Fees |
2%. |
|
Payment methods |
Credit card, Bank Transfer and more. |
|
Suitable for |
Beginners and Advanced traders. |
|
Deals |
Trade 1.000 EUR commission free. |
|
App |
iOS and Android app available. |
|
Contact |
Email and live chat. |
Bitvavo
pros and cons
|
Pros |
Cons |
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Extremely low trading fees up to
0.25%. |
Digital support only (no phone
number). |
|
Staking interest up to 10.5% |
Advanced trading not via the app. |
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Insured wallets up to $255 million. |
Futures/Margin trading not possible. |
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Funds are managed by a separate
foundation. |
|
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High level of safety, |
Temporary Welcome Bonus:
1.000 Free Trade
This agreement is only valid through Crypto Tips and must be activated by clicking on the button below or by clicking on this link: https://account.bitvavo.com/create?locale=en
The bonus will be used only when green text is visible.
What is Bitvavo?
Bitvavo is a Dutch broker and exchange with each other and accepts all investors in Europe. They opened their doors in late 2017 and have gained a good reputation in the crypto community. Their main focus is simplicity and makes it easy to buy, sell and trade cryptocurrency. Combining a broker and an exchange, the platform is ideal for new and experienced crypto traders.
Most investors start out with a broker, but quickly switch to trading. An exchange is cheaper (because you pay for the transaction) and has more order options. You don't need to switch with Bitvavo as you can do everything on a single platform. The integration of the two sites is a great step forward and you can see it on the commercial scale of Bitvavo.
The website and portal look modern and very easy and intuitive thanks to the user-friendly interface.
Unlike most brokers, Bitvavo has a variety of cryptocurrencies and includes even more new plans. Plus, the platform is constantly updated with new features to make it easier for you.
A guide on how to trade
crypto with Bitvavo
Bitvavo currently offers the opportunity to easily buy over 58 different cryptocurrencies with these payment methods:
ideal (free)
Bank transfer (free, available across Europe)
BankContact (Free)
• MyBank (1.5%)
EPS Exchange (1.75%)
Source (2.25%)
Jirob (1.75%)
Credit card payments will be integrated with Visa and MasterCard in the future. We have listed all the currencies available in the overview on the right, check the current assortment on the website: https://bitvavo.com/en/markets.
Buying cryptocurrency is easily done by crediting your account. This can be done by converting Euro, Bitvavo or Litecoin to Bitvavo. You can deposit Euros using a direct payment method or by bank transfer (1 business day). Popular payment methods have no transaction costs and you can start investing from $1.
Once you have deposited the credit, you can transfer it to the desired crypto on your dashboard. In the same general idea you can sell the cryptocurrency you have bought and convert it to another currency or Euros. You can read about how to buy crypto in the next chapter of this Bitvavo review.
How to buy cryptocurrency in Bitvavo
using the main interface?
Here is a brief description of how you can easily buy cryptocurrencies through the startup site:
1. Credit your account by clicking on Deposit
2. Select the desired payment method
3. Click on the desired cryptocurrency
4. Select the Buy tab
5. Enter how much you want to buy and click Buy
6. On the next screen, click on Confirm to complete the purchase
We have written a step by step guide on how to buy crypto in Bitvavo.
Your dashboard credit has been reduced and the selected cryptocurrency has been added to your account. This process is almost instantaneous.
You can store your crypto in your Bitvavo wallet or send it to your wallet. All coins can be withdrawn from the platform.
How to trade cryptocurrencies
in Advanced Exchange?
It doesn't matter whether you use a basic interface or advanced transactions for business expenses. Trading costs are the same for both business environments. We recommend using Advanced Exchange if you really want to trade.
You have many more features in the advanced interface. You have technical analysis, order book and charts where you can access advanced orders. It is cheaper to become a marker maker than to take one.
chart and order book
The chart is provided by TradingView and a well-known chart provider, where various indicators can be used. You can perform technical analysis on various charts and prices using a variety of tools and indicators. Many professional analysts use the charts provided by TradingView.
You can see which orders have been placed in the order book and you can view your orders. You can also see which orders have been filled.
advanced order delivery
The advantage of the exchange is that you can place advanced orders. This makes it easy to respond to the market and you don't need to look at the map 24/7. The number of orders is still small, but more and more advanced orders will be added in the coming years. Now you can choose from the following commands:
Market order: The order will not end up in the order book and will be processed immediately at the current price. It will be exactly the same when you place the order in the main interface.
Restrict Order: You can set a price in advance and the order will be processed only after this price is reached. Here you have several advanced options:
O-Till-Cancellation: The order will remain in the book till the order is filled or cancelled. There may be more/less than what you mentioned.
o Immediate or Cancelled: If an order is not filled completely at the selected price, the balance will be cancelled.
Fill or Kill: The order can be completely filled or canceled.
Stop Limit Order: The order will be processed only after the included trigger price is reached. After the trigger, a limit command is placed.
euro money in Bitvavo
exchange
We have personally made multiple payments to our verified bank account.
Though the website mentions that it may take up to 1 business day to make the payment, we got it right away. Even on Saturday. The transaction was done by Punk and in our case it was transferred to ABN AMRO (Dutch Bank). Within seconds of the payment confirmation, we received a notification from ABN AMRO that the transaction has been completed.
Payment via Bitvavo is still free. You can see the proof of payment in the attached image. Some personal details have been removed.
From mid-May 2019, the instant payment facility will be launched between major Dutch and European banks. Because of these changes, all payments between (large) European banks will be made within seconds.
trade with Bitvavo b 1.000
for free
New customers can trade up to $1.000 on the Bitvavo exchange for free. The discount is valid for 7 days after registration.
deal work
on offer
Bitvavo online wallet
For each cryptocurrency offered, Bitvavo offers an opportunity to put it in its own context. This means that you do not need a third party wallet and you can store your cryptocurrencies in the same environment. In most cases each crypto requires a separate wallet. The vast majority of cryptocurrency is stored in offline wallets disconnected from the Internet. This method is called cold storage, and those that are not connected to the Internet are theoretically unaffected. Offline storage space is available to select employees only.
It is safe to store the various cryptocurrencies provided by Bitvavo, but of course you are responsible for the security of your account. So always make sure you enable two-factor authentication and don't use the same password multiple times.
Bitvavo fees and costs
Creating an account is free. Bitvavo makes it easy for everyone to buy cryptocurrencies and charges very little for it. This is the revenue model of all the brokers you can find on the internet.
In March 2019 Bitvavo turned the entire site into a real exchange. This means that not only do users fill each other's orders, but fees are also significantly reduced: you pay a maximum of 0.25% for all transactions.
This means that Bitvavo is the cheapest broker in the Netherlands and most of Europe. You will not pay any commission for the first 1.000 through our special link. This action is only valid if the green text is a welcome bonus: the trade is €1000 without commission.
Bitvavo traders are rewarded with additional discounts for trading too many. Your plot will be determined based on the size of the last 30 days. In addition, there is a fee for withdrawing coins. Click here for an overview of all costs: https://bitvavo.com/en/fees
Overview of commission
brokers
Brokers charge their clients a fee. The commission is calculated based on the spot price of Bitvavo as on 21-01-2020 and the price of Bitvavo charged by the broker. As you can see, there is a huge difference in the costs that brokers charge.
Many customers are happy to pay for business expenses as they get an easy portal in return and can pay using standard payment methods. Current market prices can be found on the portal and are often lower than the price shown on Coinpaprika.
checks and limits
Bitvavo must comply with Dutch laws and regulations, which means they have to undergo a number of checks. Every crypto company is viewed as an official financial institution in the Netherlands, and they must be registered with the Central Bank. Bitvavo is officially registered with the Dutch Central Bank (De Nederlandsche Bank).
For example, a Know Your Customer (KYC) policy requires that they know who they are doing business with and that they comply with Anti-Money Policy (AML) policies.
To create an account, an email address is required and a first and last name are requested. To deposit or buy anything, the mobile number must be verified. The process is easy and doesn't take more than a minute.
Dutch law requires May 2020 to create an ID verification for each customer. You can do this by sending your ID or passport to Bitvavo. The processes are fully automated and take up to 90 seconds. After verification, the limits will be removed and you will be able to trade in the crypto market.
To withdraw Euro funds, the bank account must be verified by exchanging a small amount. The name of the bank details Bitvavo must know.
customer service
Bitvavo's response time to customer service is very fast. We recommend checking your question on the help page first. Here's the FAQ: If you have a common question, chances are good that your answer is yes.
If it isn't then perhaps you can contact the Bitvavo support group. Reach out to the support team via email (support@bitvavo.com) and live chat. Opening hours are from 09:00 to 17:00 on working days and from 10:00 to 18:00 on Saturdays. Our experience with Bidwao is that we still get email replies after such a long time. Pitavo cannot be reached by phone.
Is Bitvavo safe? Company
Information
Pitavo PV The company is located in Amsterdam, registered with Chamber of Commerce (Chamber of Commerce) on 11-05-2017. In order to do a thorough investigation of the details of the company, we obtained information from Chamber of Commerce. Although such data is publicly available (after payment), we will not display all information on our website as it includes first names and personal phone numbers. Bitvavo PV has two co-accredited directors:
Terranova PV (66790611), in which J. De Boer is an independent accredited director
Fortuna Holding PV (68739087), F.R. Parse is a recognized Independent Director
The travel address is Herringroch 450, 1017 ca, located in Amsterdam. We have done many transactions with Bitvavo and strongly believe that Bitvavo is safe.
Security is very important to Bitvavo and they have taken a number of steps to keep the platform and users safe. Here are some examples of why this company is safe:
User security is recognized by two factors, device and IP management, API extraction and licensing, protection against phishing and security information.
Hot and cold wallets are used. Hot wallet to send cryptocurrencies quickly without long waiting times. Cool wallets for most cryptocurrencies are there to ensure security. The purse is spread at different places.
Cold Wallet is insured up to $255 million.
Crypto Type 4+ (Banking Standard) securities are stored and monitored 24/7.
Personal information such as passports, identity cards and other data is stored and encrypted.
Stitching Bitvavo Payments (Trust) is established to ensure that clients' assets are protected in the event of loss.
All currencies are controlled by a third party (Stitching Bitvavo Payment Trust), so nothing is subject to Bitvavo PV.
Only certified data centers are used.
Audit is done on regular basis and all employees are screened.
Conclusion
Bitvavo is a secure crypto broker and one of the exchanges. By 2020 Bitvavo will become the market leader in Europe and the team will continue to build the platform. The major credit of Bitvavo is its growth in association with exchanges and brokers by charging low trading costs. So far no broker has been able to match the low price of Bitvavo.
In addition, Bitvavo offers a number of unique services such as the option of registering your interest in crypto, separate foundations for funds, insurance for wallets, and an automated trading API.
Are you sure? Register a Bitvavo account today: https://account.bitvavo.com/create?locale=en.
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