Bitvavo Review 2022: Is It a Secure Exchange?

What Is Bitvavo?

Bitvavo is a leading European exchange platform for crypto traders that facilitates around 100 Billion Euro a month worth of trades in the crypto market. Bitvavo trading platform founds its growth organically, and has attained a stable food print in the EU market. Many Bitvavo reviews also stated that the exchange has more than 120-250 million daily trading volume.

Bitvavo Summary

Official Website https://bitvavo.com/
Headquarters Amsterdam, Netherlands
Found in 2018
Native Token N/A
Listed Cryptocurrency Ripple, Bitcoin, Terra Classic, Ethereum, Cardano, Terra 2.0, Solana, Quant, Voyager Token, Dogecoin, Shiba Inu, Chainlink, Reserve Rights, VeChain Thor, Ethereum Name Service, Tether USD, USD Coin, Polygon, Mirror Protocol, Status, UMA, Cosmos, Hedera, Apecoin, Avalanche, Waves, Chilliz, Polkadot, Fantom, BarnBridge, Akropolis, Fetch.ai, IOTA, DFI Monkey, district0x, Curve DAO Token, Holo, Maker, ICON, Litecoin, Numeraire, Bitcoin Cash, Uniswap, TRON, Stellar, and more
Trading Pairs N/A
Supported Fiat Currencies EUR
Supported Countries Austria, Belgium, Bulgaria, Czech Republic, Denmark, Estonia, Finland, France, Germany, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, and United Kingdom
Minimum Deposit €5
Deposit Fees No Deposit Fees
Transaction Fees Depends on the trade volume
Withdrawal Fees EUR free, Currencies only network fees
Application Yes, API
Customer Support Live Chat, Email, and Help Center Support

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Although Bitvavo is a safe exchange, it only covers the platform’s compliance with Terrorist Financing and Money Laundering Act and the 1977 Sanctions Act. This does not imply that the platform meets all the financial requirements or that DNB monitors the services. Nevertheless, Bitvavo stresses the following values – transparency, accessibility, and forward-looking.

Bitvavo Origin & Background

Bitvavo, the advanced exchange, was established in 2018 in Amsterdam, Netherlands, and it currently operates in around 29 European countries. Bitvavo is registered and regulated with the Dutch Central Bank (DNB). It is registered as a digital asset services provider, making Bitvavo a trustworthy and safe exchange for automated crypto trading. The website is founded by friends Jelle, Tim, and the currently CEOed by Mark Nuvelstijn.

Bitvavo User Interface

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This Bitvavo review will highlight the platform’s regulations, Bitvavo solutions, pros and cons, sign-up process, Bitvavo trading fees, mobile app, and more.

Working of Bitvavo 

The team of developers at Bitvavo exchange is ambitious and development-focused, constantly working on expanding and improving the platform. Innovation and tradition at Bitvavo are followed diligently, allowing the developers to break all grounds while ensuring the platform’s stability, reliability, and security.

The exchange is perfectly integrated with the bank account so that users can deposit and withdraw funds fast. Bitvavo is a good platform that bridges the gap between traditional and crypto users and makes digital assets accessible to novice and experienced crypto traders with transparent and low trading fees, a wide range of digital assets, and an easy-to-use trading platform. The best crypto exchange offers Paypal EPS and SEPA deposits which is ideal for saving plans and sporadically investments. One can say that Bitvavo is a “Mom and Dad exchange”, your funds are safe and sound.

Is Bitvavo Regulated?

As mentioned in this Bitvavo review, Bitvavo’s trading platform is officially registered with the Dutch Central Bank (DNB). It is owned and regulated by its parent company based in Amsterdam, called Bitvavo B.V. The trading platform is fully compliant with the counter-terrorism financing (CTF), and anti-money-laundering (AML) laws in Europe, and it is fully compliant and regulated in all countries where it is operational. This implies new traders at Bitvavo can verify their identities while registering on the platform without reducing the degree of privacy provided to them.

Key Features of Bitvavo Exchange

Transparent & Low Fees

Bitvavo’s trading fees are transparent and low, including attractive rates for market makers and high-volume traders. Bitvavo’s fees are based on the trading volumes of users. Taker fees start with 0.25% makers are 0.15%. SEPA (wire) withdrawals are free of charge, PAYPAL Euro deposits are inexpensive.

Security & Account Guarantee

Bitvavo Account Guarantee protects traders from malicious activities by insuring the Bitvavo account up to €100,000.

Key Features of Bitvavo Exchange

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Over 180+ Digital Assets

Bitvavo allows traders to trade, store, buy, and sell crypto safely, with over 1 million active users currently on its platform. Many of the assets can be staked or lended to earn extra staking rewards.

Legal Compliance

Bitvavo is compliant with counter-terrorism financing and anti-money laundering laws in Europe. It also helps remove criminality from its system, thereby improving the overall reputation and security of the cryptosphere.

Intuitive Mobile App

Traders can download the Bitvavo intuitive mobile app to buy crypto instantly from their phones on the go. They can also manage their virtual assets from any device, anytime, anywhere.

Staking Rewards

Bitvavo allows traders to earn returns on their digital assets. The staking service that Bitvavo offers comes with a yield of up to 7.5% on staked crypto assets.

Advanced API

Traders at Bitvavo can use advanced API to programmatically interact with the trading account without releasing any account name or password. This is ideal for professional traders. Trading bots or Algo-Trading is therefore possible.

Bitvavo Benefits

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Direct Euro Transfers

Bitvavo has made buying digital assets with European Euros easier than ever with 8 convenient and safe payment methods, including SEPA for bank and instant transfer.

Solutions Offered by Bitvavo

Exchange

The Bitvavo Exchange is suitable for experienced traders looking to buy, sell, and stake cryptocurrencies with multiple order types like limit orders, market orders, and stop-limit orders.

Enterprise

Bitvavo offers several tailored solutions and advanced features for institutional clients and enterprises who can gain direct access to various digital assets using the platform’s time-tested and trustworthy technical architecture.

Bitvavo Enterprise Solution

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Bitvavo Review: Pros and Cons

Pros Cons
Intuitive and clean user interface welcomes both beginners and experienced traders. Extensive AML and KYC checks.
Advanced trading mode caters to professional traders. Exchange not available for US, Asia, Africa and users from other regions.
Additional features like stacking may be essential for power traders. Only EUR-pairs.
Advanced API allows traders to connect with trading dashboards/algo trading. No derivatives, basic trading instruments, no leverage or CFD trading.
Extremely low trading fees (maker fee and taker fee).
Offers Paypal and 9+ localized payment options.
Very low funding fees with paypal. No FIAT-withdrawal fees.
EU-Headquarters, complies with GDPR-regulation.

Bitvavo Sign Up Process

To start investing and trading with the user-friendly, Amsterdam-based company, Bitvavo users must create an account with the platform. Navigate to the official website and navigate the blue Sign Up tab on the right-hand top corner of the landing page.

Bitvavo Sign Up Process

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Enter personal details like country of residence, name, email address, password, and bank account details. Agree to the website’s terms and conditions and privacy policy and click Create Account. A verification email will be sent to the registered email ID. This is an automated process that takes only a minute to complete. Click on the link to verify the account. Next, Bitvavo will require traders to verify their IDs. This is to AML (anti-money laundering) regulations. For verification, users must provide certain documents like a driving license, passport, and proof of address. To start trading on Bitvavo, users must deposit funds and buy crypto from the dashboard to complete the process.

Bitvavo Fees

Trading Fees

Most exchanges and brokers charge trading fees for the transactions performed on the platform. Fortunately, the Bitvavo trading platform is one of the cheapest exchanges available in Europe that offers extremely competitive trading fees that decrease as the trading volume increases. Bitvavo makes money just like other crypto exchanges, where the main source of revenue comes from the taker fees and maker fees based on the trading volume of the investors in the previous 30 days. The staking interest may go up to 10.5% on the exchange. The full fee structure, including the maker fees and taker fees, has been shown below:-

Trading Volume Taker Fee Maker Fee
€0+ 0.25% 0.15%
€100 000+ 0.20% 0.10%
€250 000+ 0.16% 0.08%
€500 000+ 0.12% 0.06%
€1 000 000+ 0.10% 0.05%
€2 500 000+ 0.08% 0.04%
€5 000 000+ 0.06% 0.04%
€10 000 000+ 0.05% 0.03%
€25 000 000+ 0.04% 0.03%

Deposit Fees

Bitvavo’s exchange charges a nominal fee to deposit credit into the exchange account. Customers can use 8 different payment methods including Bancontact, Giropay, iDeal, MyBank, PayPal, and more. The absolute fees, relative fees, and the maximum amount of deposit that can be made are mentioned below:-

Direct Payment Method Absolute Fees Relative Fees Maximum Amount
Bancontact €0 0% €10,000
EPS Überweisung €0 1.75% €1000
Giropay €0 1.75% €1000
iDeal €0 0% €10000
MyBank €0 1.50% €5000
PayPal €0 2% €10000
SEPA Bank Transfer €0 0%
SEPA Instant Transfer €0 0% €15000
Sofort €0 2.25% €1000

Withdrawal Fees

Withdrawal fees for cryptocurrencies at the Bitvavo exchange can vary due to congestion in the blockchain network. Traders can deposit and withdraw their funds in any supported cryptocurrencies, but they will be charged a small Bitvavo fee. While deposits are free of any charges, Bitvavo charges variable withdrawal fees. To know more about the deposit and withdrawal fees charged by Bitvavo, visit the official website.

Bitvavo Payment Methods

According to this Bitvavo review, the crypto trading platform is one of the most convenient and safe exchanges. Several payments and transaction methods are available to deposit Euros on the exchange with variable trading fees, transfer speeds, and limits. The following are the 8 payment methods available at Bitvavo:-

Payment Methods Minimum Deposit Minimum Withdrawal Transfer Speed
SEPA Bank Transfer €30 €25,000 per day 2-5 business days
iDeal No Limit 0/2 BTC per day Instant
SoFort €5 €10,000 Instant
Giropay €5 €1,000 Instant
MyBank €5 €5,000 Instant
Bancontact €5 €10,000 Instant
EPS Überweisug €5 €1,000 Instant
SEPA Instant Transfer €30 €25,000 per day 2-5 business days

Bitvavo Mobile App

Bitvavo mobile application is neat with the most user-friendly interface. All the important features and functions of the web terminal, including depositing, withdrawing, completing ID verification, managing staking activities, and performing trades. The mobile app, however, does not offer advanced trading features, which can be disappointing for experienced traders who need to manage their trades on the go. Apart from this disadvantage of not having an advanced interface, the Bitvavo mobile app is excellent and perfectly optimized for all iOS and Android users.

Bitvavo Affiliate Program

Anyone registered with Bitvavo can become an affiliate and get a permanent, uncapped commission starting at 15% on trading fees paid by the users that have been referred. Apart from the permanent commission rates, affiliate partners can also enjoy the most trusted trading environment and generate passive income as the digital ecosystem grows. To become an affiliate at Bitvavo, members must create an account and share the referral link among friends or on social media pages. When they start trading, the affiliates start earning.

Bitvavo Affiliate Program

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Other benefits of the Bitvavo affiliate program include the following:-

  • Promotional Assets – Affiliates can use a variety of promotional assets, including trading widgets, screenshots, chart widgets, logos, content, and banners.
  • Outstanding Reputation – All affiliates can confidently share their referral links with their friends without worrying about losing trust, as the website has a great reputation. The transparent pricing, easy-to-use exchange, clear communication, low trading fees, reliable bank connections, and security standards allow affiliates to bring traction with full confidence.
  • Dedicated Support Agents – Affiliates also access efficient and committed support agents that result in fruitful returns in conversation optimization feedback, special marketing actions, customized promotional content, rapid troubleshooting, and more.

Bitvavo Security Measures

According to this Bitvavo review, keeping funds and personal and financial information safe is a top priority at Bitvavo. To do this, the website follows strict security practices while handling its clients’ funds. Customers can protect their accounts using the 2-factor authentication method, managing their enabled devices, and setting up anti-phishing codes. Moreover, if the company ever goes bankrupt, the funds will be available in a segregated account, known as Stichting Bitvavo Payments. They can also protect their funds by managing their address whitelist and controlling API access using IP whitelisting and permission-based access.

Traders can also gain an insight of the security measures used by Bitvavo to protect data, client funds, and the platform’s overall availability including advanced monitoring and logging, a strong organizational setup, multi-signature cold wallet storage, regular external penetration tests, coding audits, and screening.

Most of the crypto assets are stored in cold wallets and the access to these wallets is monitored and regulated by strong security protocols. There are bank-grade wallets that back up vital information of the clients with 24×7 monitoring. Last but not least, large transfers at Bitvavo can be processed only by a selected group of executives and they always require approval and manual verification from several people.

Bitvavo Customer Support

Bitvavo has an efficient customer support team and a dedicated support page with resources and documentation covering every topic that any customer would want to know. The support page answers all the frequently asked questions on account creation, account management, deposit and withdrawal processes, the exchange platform, security practices, API private keys, and corporate-related topics.

Bitvavo Customer Support

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In addition, Bitvavo has 24×7 live chat support that can be accessed from the bottom right corner of the webpage. All customers need to do is provide their name, registered email ID, and preferred language, followed by the query. Customers can also send their queries to [email protected] and get a response within 24 hours.

Bitvavo Review: Conclusion

To conclude this Bitvavo review, it is undoubtedly an excellent option for both new and advanced traders and investors based in Europe. It is completely affordable and compliant and offers a wide range of crypto assets. The Bitvavo platform is extremely easy to use and transparent, having low trading fees, high-security standards, unparalleled customer support, quick transfers, and the most advanced trading features that make Bitvavo a premier option for all European traders.

The Bitvavo wallet is also available to store digital currency or send assets to other wallets. Some of the security settings available on the Bitvavo app and website are also worth mentioning, such as a withdrawal whitelist, and IP management. The developers have put in additional efforts to protect client information and funds.

Nevertheless, like any other crypto exchange in the industry, Bitvavo also has certain disadvantages. Future trading, leverage trading, or margin trading are not available for advanced traders, and the exchange platform is allowed only in Europe. Hence, traders from the US and Asia can not use the exchange platform.

FAQs

Is Bitvavo Safe to Use?

Bitvavo’s 2FA or two-factor authentication helps customers to keep their exchange accounts safe and secure. This protocol adds a layer of security over and above the use of a username and a strong password. Bitvavo also utilizes industry-standard security measures like anti-phishing coding, SSL encryption protocols, client data protection, cold wallets, crypto storage insurance, and a user-friendly and dedicated support system that ensures customers’ safety.

Who Owns Bitvavo?

Bitvavo is owned and operated by its parent company Bitvavo B.V., based in Amsterdam, Netherlands.

Is Bitvavo Suitable for Beginners?

Yes, Bitvavo’s crypto exchange is suitable for both beginner investors and experienced traders due to its regulatory status, easy-to-use interface, competitive trading fees, a great reputation, and a variety of crypto tokens.

What is the Minimum Investment at Bitvavo?

The minimum trade and investment value at Bitvavo are €5.

In Which Countries is Bitvavo Available?

Bitvavo is available in the following countries – Austria, Belgium, Bulgaria, Czech Republic, Denmark, Estonia, Finland, France, Germany, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, and United Kingdom.

Is There Any Tax Charged by Bitvavo on Your Profits?

The answer varies depending on where the traders live. There is a chance of paying capital gains tax on profits made through Bitvavo. To know more about taxes, consult the local tax laws.

Can You Use Bitvavo Anonymously?

No, since Bitvavo exchange complies with European AML regulations, customers must verify their identity before placing trades or depositing fiat money.

Risk Warning: Trading in the financial markets offers huge risks. All information does not constitute financial advice. Consult a financial advisor while making financial decisions and invest money you can afford to lose.

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