Bitvavo from Amsterdam is a fairly new broker with a ‘one stop shop’ model for web browser usage only. They are operating in the European market since 2017 with accessible prices, low margins and an extensive crypto portfolio. At Bitvavo, you can trade Bitcoin, Litecoin, Ethereum and 55 other popular crypto directly with your trusted payment methods as iDEAL, Giropay, Bancontact, SEPA, SOFORT, MyBank and for Austrian customers EPS is supported as well.
On the 8th of March 2019 Bitvavo has expanded their services from being a broker to an exchange. The broker functionality and user-friendly dashboard are still there for irregular traders. With the introduction of the new exchange service, they lowered their fees majorly! From 2,50% to 0,25% for the taker fee, if you trade up to € 50,000.- within 30 days. Suppose you want to buy bitcoin for € 1,000.-, the fee would then be € 1,000.- x 0,25% = € 2,50. Instead of paying € 1,002.50, you will buy bitcoin for € 997.50.
Trading costs are visibly included in the transaction and the fee is not added afterwards. The taker fee can even be lowered to 0,10%, if you trade like a whale and spend more than € 10,000,000.-. Who doesn’t want that?!
Currently the exchange supports BTC and EUR trading pairs for all altcoins. It is not possible yet to trade altcoins for altcoins for example, Cardano for Tron as pair ADA/TRX.
Bitvavo offers a clear, transparent and user-friendly support page where any starter or experienced trader can boost their knowledge, as fees, costs, trading margins, tiers, and so many other definitions can be hard to understand. It is clear that Bitvavo doesn’t hold any shady secrets and operate transparent as all subjects are clarified into detail.
Bitvavo is required by law to verify your identity to prevent fraud, money laundering and financing terrorism, when you deposit more than € 5,000.- on your account. However, before you can transfer Euro (fiat), you need to create an account and verify your bank account. You can do this by transferring an amount of € 1.-.
Even though Bitvavo wants to make trading crypto accessible for everyone, there are some age restrictions. For creating an account you need to be at least 18. Are you 16 or 17, than parental permission is mandatory to have an account created.
Still haven’t created an account yet? By using the button below you are guaranteed with fee-less trading up to € 1,000.- in the first week. As there fee is already one of the lowest, this action will still save you money as all little bits help.
Did you know that Bitavo was 2nd in being the ‘all-round’ cheapest broker on CoinCompare in 2019?
Also that most of the time they are the cheapest for the crypto they offer?
All purchases are stored directly in your account’s wallet which can be used to trade directly. Bitvavo also supports the possibility to withdraw the purchased crypto to an external wallet and to deposit crypto to wallets in your account. All offered crypto are supported besides Bitcoin Cash, Cyber Miles and Ethereum Classic. For those it is not possible to deposit to the wallet or withdraw from it.
Keep in mind that you need be verified to do deposits and withdrawals!
Bitvavo provides the following measurements to secure your account, personal data, crypto that is stored in your wallet and to keep you sharp and triggered to not share any personal data:
With these measurements Bitvavo’s security is highly secured and well arranged. Their measurements and related information can be found on their support pages.
Keep in mind, in the end, you as user is the best defense against account breaching and theft! Therefore, CoinCompare always recommends to use a hard wallet to be fully independent from online wallets.
English, Dutch, French, Spanish, Italian.
The support pages are in English and Dutch.
By Jeroen Modified 22/09/2020