Purchasing cryptocurrency can be quite easy, if you know the right platform. With the help of brokers, such as Bitvavo, it is easy. Bitvavo was founded in October 2017, and since then, it has grown into one of the most largest European exchange. Bitvavo focuses not only on experienced traders, but also on beginners by offering an easy buying and selling system and user-friendly website. A big advantage of Bitvavo is that it is extremely cheap. You therefore pay low trading fees per purchase and sale than with other brokers. Learn everything about this broker / exchange in this Bitvavo review.
First impression of Bitvavo
I think we can all agree on that the Bitvavo website looks very professional. The set-up is very minimalistic which makes it very easy to navigate and find useful information. You can view all the relevant information without any unnecessary details. It ensures the user-friendly design of the website.
Bitvavo goal is to make cryptocurrency accessible to everyone. The slogan is seen on the website: ”Trade the Future”. Unique about Bitvavo is that they target both novice and experienced crypto traders. An user-friendly buying system has been developed for novice traders and an advanced exchange with multiple order types for experienced traders.
It is a Dutch in Amsterdam-based company with over 100.000 clients in Europe. They’ve conquered the Dutch market, and they are growing fast in the rest of Europe. Mainly because of the user-friendly platform and the low trading fees. Another pro of the exchange is the support. The team is available from 09:00 to 17:00 on workdays and from 10:00 to 18:00 on Saturday. The support is very responsive and available in English and Dutch.
We’ve partnered up with Bitvavo and we are allowed to give our readers a special welcome bonus. Whenever you use our link you can trade up to 1000 EUR without any commission. This makes the platform cheaper than it already is.
If you want to use this promotion, use the link or click the button below: https://account.bitvavo.com/create?locale=en
The promotion will apply if the green text is displayed (see the screenshot).
Exclusive Bonus: Trade up to 1000 EUR commission free
Bitvavo provides free built-in wallets for every cryptocurrency they support. You don’t need to install a third party wallet when you buy crypto. This way you can see a clear overview of you portfolio in your Bitvavo Dashboard.
This is very convenient, but we always recommend to store your crypto safely in a wallet where you manage your own private keys. Preferably a cold wallet, like a hardware wallet. We will take a more detailed look at trading, exchange, limits, and costs in this Bitvavo review.
Key features of Bitvavo
- Bitvavo is one of the cheapest European exchanges. The maximum trading fee is 0,25% (compare prices).
- Bitvavo is registered with The Dutch Central Bank (DNB).
- Earn interest on your cryptocurrency (up to 10.5% on an annual basis).
- Wallets are insured for up to $ 255 million.
- Trade more for extra discount: https://bitvavo.com/en/fees.
- Basic user-friendly interface for beginner traders.
- Advanced exchange for experienced users.
- Over 190+ cryptos to choose from. Check: https://bitvavo.com/en/markets
- High level of security. Check: https://bitvavo.com/en/security
- All funds are stored in a separate fund: Stichting Bitvavo Payments, so no funds will be lost in case of a bankruptcy.
- No transaction fees for a lot of payment methods.
- Automated trading via the API.
They do have one minor drawback. Customer Support is not available by phone. However, they are very responsive via live chat and e-mail.
|Fees||Max. 0.25% + discount based on trading volume|
|Payment methods||SEPA Bank transfer, Bancontact, iDEAL, MyBank, EPS, Giropay or Credit Card|
|Staking||Yes, earn interest up to 7.5% APY|
|Built-in wallets||Yes, for all cryptos|
|Insurance||Ja, wallets are insured up to 255 million dollar|
|Bonuses||Trade the first 1000 EUR commission free|
|API||Yes, automatic trading is possible|
|Support||During business hours|
Bitvavo Pros and Cons
|Broker and exchange in-one||No phone support (all digital)|
|Low trading fees of max. 0.25%|
|Big offer + built-in wallets|
|Earn interest on your holdings|
You can buy, sell, store, withdraw and trade over 190 cryptocurrencies and the offer is regularly updated. You can choose from the bigger coins like Ethereum and Bitcoin, but also smaller projects like Chainlink or VeChain.
Since the offer is updated regularly, you can check out their current offer here: https://bitvavo.com/en/markets
They have dedicated pages for every coin where you can check the prices and stay informed of the latest news. You can compare the current crypto prices of Bitvavo in our pricing overviews. Compare their Bitcoin prices over here or check here which coins we compare.
Buy crypto with Bitvavo
The first step is to create an account. Bitvavo has a simple and easy registration process.
You only need an e-mail address, password, and name to create an account. After you’ve entered all your real information, you will receive an e-mail with a confirmation link, your account is ready.
Due to the new Dutch crypto law which is active from May 2020, all users must be verified with an ID. This is an automated process and takes only 1.5 minutes. You can start purchasing crypto after successful identification only.
After your registration you can deposit funds in your account to buy cryptocurrency. You can choose from:
- SEPA Bank transfer (free)
- Bancontact (free)
- iDEAL (free)
- PayPal (2%)
- MyBank (1.5%)
- EPS (1.75%)
- Giropay (1.75%)
- Credit Card
Make sure that the account holder of your bank is the same as the account holder of your Bitvavo account.
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.
- Select the desired currency.
- Indicate the amount for which you want to buy crypto. The system will automatically calculate how much crypto you will receive.
- Bitvavo trading fees are transparent, and you will immediately see how much fees you pay.
- Click Buy.
The order is processed immediately, and your credit will be deducted based on the order you make. You will find crypto in your personal wallet within seconds. You can use the Withdraw tab to send your crypto to an external wallet.
You can sell your cryptocurrency using the same page you used to buy it. Go to the Trade page and choose to sell the currency instead of buying (the tab on top). Bitvavo will convert your cryptocurrency back into euros and will credit this amount into your account.
Whenever your crypto is converted to euros, you can choose to do a bank transfer payout or invest it in another crypto. To do a bank transfer payout, you can click on Withdraw Credits. Select the amount you want to send to your bank, select your bank account, enter your 2FA code and hit Confirm.
Bitvavo will transfer the money to your bank account within a day. Most of the time we have a payout within the same day (during business hours).
Bitvavo makes sure all customer funds are secured. If Bitvavo B.V. goes bankrupt, the customer’s funds will stay with the Bitvavo Payments Foundation. We have made several payments to our bank account. You can see one of the payment transactions on the screenshot.
Exclusive Bonus: Trade up to 1000 EUR commission free
The Bitvavo exchange
Bitvavo exchange platform is available since March 2019. An exchange is a trading platform where you can exchange different cryptos. The difference between a broker and exchange is that a broker is mostly targeting beginner investors who wants an user-friendly platform.
An exchange usually uses an order book and matches buyers and sellers. The Bitvavo exchange platform works perfectly for experienced traders and for beginners who want to learn more about an exchange. It is perfectly interegrated with your bank account, so you can withdraw and deposit funds fast.
Bitvavo definitely stands out with this feature. Thanks to the launch of the exchange platform, Bitvavo can charge low trading fees.
Verifications and Limits
If you’re new to Bitvavo, you are required to verify your account since May 2020. According to European laws and regulations, crypto parties must know exactly with whom they are doing business. This is a sign that the crypto market is becoming more mature, just like stock brokers, for example.
You can verify your Bitvavo account with a copy of your ID or a passport. From our own experience, it takes about 2 minutes. It appears to be an automated process, so all the data on the ID needs to be clearly visible.
It is also mandatory to have your phone number verified. This is needed to be able to buy and sell cryptocurrency. Once your ID and phone number are approved, you can trade, deposit, and withdraw without any limits.
Fees and other costs
You might be aware that brokers and exchanges charge a fee for every transaction that you do on the platform. Luckily, Bitvavo is one of the cheapest brokers available in Europe. You can compare the Bitcoin prices over here.
The Bitvavo fees will never exceed 0.25% fee per transaction. If you compare that with, for example Bitladon, the average fee can be around 1.75%. Even with smaller investments, choosing the cheaper broker can save you some money. If you plan to invest in cryptocurrency, this difference can save you a lot. The advantage of Bitvavo is that these low fees applies to small and large transactions.
View the full fee structure on the website: https://bitvavo.com/en/fees
You will also get a reward when you trade more on the exchange. The more you trade, the bigger the rewards. This is based on your 30 day volume and this will be calculated every 24 hours. Some payment methods are free and other require a payment to deposit funds into your account. Withdrawing is always free.
The Bitvavo app
The Bitvavo app is available for Android and iOS users. The Bitvavo app reviews are positive and allows you to trade anywhere and anytime. An user-friendly interface ensures you can trade, deposit, and withdraw funds easily.
Use the code CRYPTOPRIJZEN via the app to receive the free 1.000 euro trading welcome bonus.
The app has a disadvantage, because the advanced interface is not available. We’ve been told this will be implemented as soon as possible.
Exclusive Bonus: Trade up to 1000 EUR commission free
Is Bitvavo safe?
Bitvavo is major player in The Netherlands and is growing fast in the rest of Europe. They offer unique features like an exchange and broker platform in one. This makes it interesting for both beginners and experienced users. Bitvavo is definitely the broker we can recommend to everyone, if you’re from Europe. We make almost all our trades with this exchange. Bitvavo can now proudly call itself the largest exchange in the Netherlands. In 2020 they reached a trading volume of 3 billion euros and the year is not over yet.
Bitvavo has several security measures on the site, such as different verification methods, IP whitelisting, 2FA, advanced monitoring, special bank vaults and certified data centers. On this page, you can see how Bitvavo applies these security measures: https://bitvavo.com/en/security
On top of that, they are officially registered with The Dutch Central Bank (DNB) and the wallets are insured up to a loss of 255 million dollars. The staking functionality that allows you to earn interest on your holdings is a very nice addition. Compare an interest rate of 10.5% on an annual basis with that of your current bank.
Since we’re using Bitvavo a lot, we can assure that Bitvavo is safe. But please keep in mind that you also have to take security measurements. Always enable 2FA, use a strong password and an unique email address.
The conclusion of this Bitvavo review is that we are very positive about this exchange. They are most of the time the cheapest broker in our comparison tables, and they offer a platform, that is suitable for every type of trader.
Frequently asked questions about Bitvavo
What are the Bitvavo fees?
A maximum of 0.25% is charged per transaction on the platform. Based on the trading volume, you can get an extra discount. The discount is applied automatically and depends on the trading volume of the last 30 days.
Is it Bitvavo safe to use?
Bitvavo does everything it can to secure its platform, such as periodic audits, 24/7 monitoring, certified servers and cold storage of cryptocurrency. In addition, you can protect your account with 2-factor authentication, device management and a strong password. You are therefore also responsible for your own security. Should Bitvavo B.V. go bankrupt, all funds are still available in a separate foundation (Stichting Bitvavo Payments).
Which payment methods are supported by Bitvavo?
You can use MyBank, EPS Überweisung, Giropay, iDEAL, Bancontact and bank transfer.
What is the minimum investment?
You can start investing from 1 EUR.
How can I contact Bitvavo?
Bitvavo is available on business days from 09:00 to 17:00 and Saturdays from 10:00 to 18:00. The customer service can be reached at email@example.com or the live chat.
Can I trade automatically with Bitvavo?
Yes, Bitvavo has full integration with CryptoHopper. You can trade automatically using the APIs.