If you’ve ever seen any financial headlines, then you know that cryptocurrency is always making the news. The digital, decentralized currency is a popular choice for traders who want something outside the traditional asset norm. Bitvavo is a cryptocurrency broker with a lot to offer its traders. The exchange has grown, over the years, to become one of the leading digital asset exchanges in Europe.
Launched in 2018 in Amsterdam, Bitvavo’s goal is to connect digital assets with traditional currencies. The platform offers a broker-like, more traditional experience for an otherwise untraditional trading asset. The broker is still growing and expanding, as it is only four years old, but what it has to offer so far is impressive. It has even won awards, including the CashCow Awards’ “Best Crypto Broker (2021) and the “Most Popular Website of the Year” Award from The Web Awards (2021).
Pros and Cons
Pros
- Low Trading Fees
- Proprietary Platform
- Many Trading Pairs
- High Verification Requirements
- Has Official License
Cons
- Only Euros From Fiat Funds
- Extended AML Verification Required
- Limited Country Range
Recommended For
This one is tricky, as cryptocurrency trading itself is not for the faint of heart. Bitvavo caters to experienced and institutional traders, but new traders will appreciate its licensure and accessibility. According to the broker, the proprietary Bitvavo platform, as well as the exchange’s products, are designed to “easily onboard” customers. While you shouldn’t blindly rush into trading crypto with no knowledge, this broker is novice-friendly, in addition to being attractive to experienced and institutional traders.
Top 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. When it comes to crypto brokers, you want to make sure that you’re dealing with verified, legitimate exchanges. Bitvavo fits that bill, as it is regulated and fully-operable in the EU (19 countries).
- 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 will be discussed more below, but it basically means that investors are able to receive access to assets without being the assets’ originators.
- Easy Staking. With Bitvavo, it is easy to stake cryptocurrencies. The main benefit to staking is that you’re potentially able to earn more crypto (up to 10% to 20%). This feature makes Bitvavo a very attractive exchange for crypto traders.
- No Absolute Fees. With this broker, there are no absolute fees—everything is relative and based on the market and trading specificities.
Account Types
|
Basis |
Intermediate |
|
|
Features |
Access information and API |
Advanced trading features like API connections |
|
Account Currencies |
EUR |
EUR |
|
Available Leverage |
N/A |
N/A |
|
Minimum Deposit |
1 |
1 |
|
Starting Spreads |
0.01 |
0.01 |
|
Commission Per Trade |
Taker fee: 0.06%-0.25%, Maker fee: 0.4%-0.15% |
Taker fee: 0.06%-0.25%, Maker fee: 0.4%-0.15% |
|
Decimal Pricing |
N/A |
N/A |
|
Trading Instruments |
155+ Cryptocurrencies |
155+ Cryptocurrencies |
|
Min. Transaction Amount |
5EUR |
5EUR |
|
Demo Account |
No |
No |
|
Swap/Rollover Free |
N/A |
N/A |
|
Copy Trading Support |
No |
No |
|
Pro |
|
|
Features |
Unlimited funding limits, Unlimited withdraw and trade options |
|
Account Currencies |
EUR |
|
Available Leverage |
N/A |
|
Minimum Deposit |
1 |
|
Starting Spreads |
0.01 |
|
Commission Per Trade |
Taker fee: 0.06%-0.25%, Maker fee: 0.4%-0.15% |
|
Decimal Pricing |
N/A |
|
Trading Instruments |
155+ Cryptocurrencies |
|
Min. Lot Size Per Trade |
5EUR |
|
Max Lot Size Per Trade |
No |
|
Demo Account |
N/A |
|
Swap/Rollover Free |
No |
|
Copy Trading Support |
Based on market |
Compliance & Regulation
Bitvavo is a licensed crypto broker under the Financial Markets Authority in the Netherlands.
Pricing
|
Type of Broker |
Cryptocurrency Exchange |
|
Regulation & Licensing |
Financial Markets Authority (Netherlands) |
|
Clients Accepted from |
19 EU Countries |
|
Assets Offered |
155+ Cryptocurrencies |
|
Platforms Available |
Download, Mobile |
|
Mobile Compatibility |
iOS, Android |
|
Payment Types Accepted |
Credit/Debit Card, Bank Wire Transfer, SOFORT, SEPA transfer, SEPA Instant transfer, EPS, Bancontac, Giropay, iDeal, MyBank, 80+ CyrptoCurrencies |
Reliability & Security
Bitvavo uses it own proprietary platform, and it does provide apps for both iPhone and Android. Proprietary platforms are often preferable to alternatives because they are designed in-house and have more flexibility.
When you look at the statistics offered on the broker’s website, you’ll see that there are more than one million active Bitvavo users, as well as a trading volume of over 10 billion. This high volume speaks to Bitvavo’s platform, as it seems well-oiled and smooth-running. Also, according to TrustPilot, users seem to find the broker reliable, as they hav given it a 4/5-star rating (out of 12,014 reviews).
User Experience
Cryptocurrency traders have reviewed Bitvavo, and, judging from the ratings, the broker seems to trend positively. Here are some of the reviews, collected from aggregate sites:
- TrustPilot: 4/5
- CryptoWisser.com: 3.2/5
- TradersUnion.com: 7.4/10
- Revain.org: 3.9/5
- Apple: 3.5/5
- BeleggenVoorBeginners24: 5/5
- Bedrog.com: 5/5
- SourceForge.net: 5/5
Contact Info
Herengracht 450, 1017CA Amsterdam, The Netherlands
FAQs
Q: How do I know what identification documents are supported?
A: You’ll have to go to the FAQ page on Bitvavo’s website in order to see which ID documents are supported, as the requirements vary, based on where you live. To access, click: https://support.bitvavo.com/hc/en-us/articles/4405544476689-Which-identification-documents-will-be-accepted-.
Q: Is two-factor authentication available?
A: You can both set up and reset 2FA with Bitvavo. You can also change your email and password, should you need to.
Q: Can I find my private keys?
A: Because Bitvavo provides hosted wallets, it is not possible to give you the private keys to your individual wallet. But, if you want to manage your private keys, you will need to buy or create your own wallet.
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