Bitvavo Review: The Real Deal for Crypto Trading in Europe?

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Dive into the world of Bitvavo with an in-depth review. I am here to share my thoughts and the key aspects of Bitvavo as a cryptocurrency exchange, ensuring you understand its safety, reliability, and fit for your trading journey. Think of it as the inside scoop—straight talk, no fluff, and no affiliate links.

My insights come from first-hand experiences with Bitvavo over the past months and background research. I have been immersed in the crypto scene for some time now and have learned how important it is to have guidance when choosing a service. Whether you are a crypto newbie or a seasoned trader, this review is the beginning of making an informed choice about Bitvavo.

About Bitvavo – A Snapshot

Here we go: Bitvavo was founded in 2017 by Jelle de Boer and Tim Baardse, with Mark Nuvelstijn joining later as a co-founder. Bitvavo B.V. emerged as a key player in the crypto exchange arena. Launching its operations in Amsterdam in 2018, it quickly became known for bridging traditional fiat and cryptocurrency markets. With a commitment to transparency, accessibility, and innovation, Bitvavo stands out for its clear trading costs, user-friendly platform, and forward-thinking approach towards the digital economy.

A unique aspect of Bitvavo is its focus on security and customer reassurance. Establishing the Bitvavo Payments Foundation safeguards user funds, separate from the company’s assets. Partnering with Bunq for bank transfers highlights their attention to financial security.

Employing around 200 people, Bitvavo’s growth mirrors its success. The platform serves 27 European countries and caters to a diverse audience with multilingual support, including English, French, German, Spanish, Portuguese, and Italian.

Bitvavo’s Evolution: From Broker to Exchange

Bitvavo, originally a broker from Amsterdam, has evolved. Initially, it served as a middleman in the crypto world, linking traders to Crypto Exchanges. But come March 2019, it transitioned to an exchange, stepping up its game. Bitvavo offers a diverse range of over 200 cryptos compatible with euro trading pairs. However, direct crypto-to-crypto swaps aren’t its thing. Its user-friendly dashboard remains, catering to beginners and seasoned traders with advanced features.

Bitvavo is winning in Euro Cumulative euro trade volume:

In 2023, Bitvavo became the leading platform for EUR spot volumes in the cryptocurrency exchange market, outperforming competitors with over €34 billion in trades, according to Kaiko.

Bitvavo: €34 Billion
Kraken: €25 Billion
Binance: €20 Billion
Bitstamp: €12 Billion
Coinbase: €11 Billion
The other 11 exchanges: €5 Billion

Bitvavo’s DNB Registration

Bitvavo’s alignment with the 2020 Dutch regulatory changes under De Nederlandsche Bank (DNB) underscores its commitment to safety and reliability in the crypto market. The DNB has specific regulations for cryptocurrency firms like Bitvavo that handle funds. It complies with the WWFT and AML regulations and ensures robust identification, transaction monitoring, and asset origin verification. Bitvavo’s membership in the United Bitcoin Companies Netherlands (VBNL) further solidifies its standing as a trustworthy Crypto Exchange.

Verification

For users, Bitvavo offers three verification levels: Starter, Intermediate, and Personalized, each with distinct features and limits. To engage with Bitvavo’s services, users must be over 18 and reside in the European Economic Area (EEA), adhering to these regulatory requirements.

Starter level

The Starter account, which is the initial level, requires basic email verification. This level is more of an introductory stage as it doesn’t allow actual trading activities. Users need to provide their details like first name, last name, and email address and create a password for account creation.

Intermediate

To trade on Bitvavo, the Advanced account is necessary after the Starter level. This involves verifying personal identity using documents like a passport or driver’s license, typically completed on the same day. Users must also link and verify their bank account with Bitvavo. The Intermediate account allows daily transactions of up to €25,000 and monthly transactions of up to €50,000.

Personalized

The Personalized account allows for higher limits but requires additional documentation to verify asset origins. It offers unlimited trading capabilities and features similar to the intermediate account, with personalized deposit and withdrawal limits based on Bitvavo’s metrics. This is especially useful for high-volume traders.

Bitvavo’s mobile app

Bitvavo’s mobile app, launched in July 2020 for iOS and Android, stands out for its sleek design, simplicity, and speed. It’s particularly user-friendly, offering a dark mode for a comfortable viewing experience. The app’s PIN-code login system is a smart, efficient alternative to the traditional email login, setting it apart from some competitors.

What Cryptocurrencies Can I Trade on Bitvavo?

Bitvavo’s growing selection of euro paired Cryptocurrencies (at the moment of writing more than 200 of them) ensures users have access to both popular coins like Bitcoin and Ethereum and also emerging coins, making it a go-to Exchange for those in Europe looking to trade in a euro pair for these coins. This approach highlights quality over quantity. Catering to both newcomers and seasoned traders. You can discover Bitvavo’s range of Cryptocurrencies by checking out the digital assets page. 

Trading fees and rates

In the ever-evolving crypto market, brokers and exchanges are the big players, each slicing a different piece of the trading fee pie. Brokers are your middlemen, hooking up traders with big guns like Coinbase and Binance. They manage the nitty-gritty of order books, but this convenience comes at a cost. They’ve got to shell out for access to these order books, and guess who pays the bill? Yep, that’s right—traders, through higher fees.

On the flip side, exchanges are the DIYers of the crypto world. They handle their order books in-house, cutting out the middleman. This way of working slashes overheads and reduces users’ trading fees, making it a win-win.

Take Bitvavo’s glow-up in 2019, for instance. They switched routes from broker to exchange, and it paid off. As a broker, their average trading fee was a steep 2.50%. But as an exchange? They slimmed it down starting from a lean 0.25%, varying with the order type. This power move crowned Bitvavo as the top dog in affordability in the European market and as the budget-friendly champ of the Netherlands. And the cherry on top is their fee structure is as clear as day – no sneaky hidden costs, just a straightforward, fair deal for traders.

Order Fees

Bitvavo has two distinct fees: the Maker and Taker fees. Here’s the scoop: Maker Fee – The Setup Artist: Picture this – you’re itching to snag some Bitcoin for €1,000. But the order book’s playing hard to get, with no ready match. What do you do? You play the maker, setting up shop with your order in the book, waiting for a taker to bite. It’s a waiting game, dependent on the price dance. Sometimes, it’s a mix and match – your €1,000 wish might get fulfilled by, say, four €250 orders. Patience is key here.

Taker Fee – The Immediate Matcher: Let’s flip the script. You spot a maker’s €1,000 Bitcoin sell order. Like a crypto ninja, you swoop in with your €1,000 buy order. Bam! You’re the taker, sealing the deal and closing the order book chapter.

Volume discount

It’s simple: the more you trade, the less you pay. How does it work:

  • When you kick off, the maker fees are at a modest 0.15%, and taker fees sit at 0.25% of your transaction’s value.
  • The More You Trade, The Less You Pay: Here’s where it gets juicy. Bitvavo rewards your trading hustle. You could snag some sweet volume tier discounts based on your 30-day trading marathon in Euros.
  • Hitting the High Notes: Imagine slicing those fees down to a slim 0.00% for makers and a mere 0.05% for takers. Sounds good, right? But here’s the catch – you’ve got to be a heavy hitter in the trading ring. I am talking about big bucks to unlock these lean rates.

So, if you’re trading lots on Bitvavo, these volume discounts are your ticket to a more cost-effective crypto journey. Keep that trade train rolling, and watch the savings pile up!

Volume (30d)Maker FeeTaker Fee
€0 +0.15%0.25%
€100,000 +0.10%0.20%
€250,000 +0.08%0.16%
€500,000 +0.06%0.12%
€1,000,000 +0.05%0.10%
€2,500,000 +0.04%0.08%
€5,000,000 +0.04%0.06%
€10,000,000 +0.00%0.05%
€25,000,000 +0.00%0.02%
€100,000,000 +0.00%0.02%
€500,000,000 +0.00%0.02%

Deposit and withdrawal fees

Bitvavo makes funding your crypto journey easy, offering a variety of payment methods to top up your account. But, as with all good things, there’s a bit to unpack regarding fees:

Payment Methods—Choose Your Path: Whether you’re a fan of iDEAL, Bancontact, or good old SEPA bank transfers, Bitvavo has you covered. And here’s the best part—these methods won’t cost you an extra dime—they are free!

A Small Price for Certain Conveniences: If you opt for EPS, Giropay, or PayPal, remember there’s a small catch. These methods charge a 1.75% to 2% fee on your transaction value. It’s the price for their convenience, so weigh your options.

Now you can use Visa or Mastercard

Bitvavo has recently expanded its payment options, offering even greater flexibility for users looking to deposit funds into their accounts. Starting from March 4, 2024, Bitvavo now accepts payments through Mastercard and Visa, enabling users to make credit card deposits conveniently. This enhancement applies to both the Bitvavo website and the mobile app, ensuring all users have seamless access to this new payment method. For the credit card method, you pay 1% for this new convenience.

Withdrawing Funds

Smooth and Feeless: When it’s time to withdraw your funds, Bitvavo makes it hassle-free. No withdrawal fees mean more money stays in your pocket. In the Netherlands, you will receive the funds in your bank account the same day, depending on the bank.

In a nutshell, Bitvavo’s fee structure is all about giving you choices to manage your funds efficiently and cost-effectively

What is the spread on Bitvavo?

Understanding the spread in trading is crucial, and Bitvavo makes this concept pretty straightforward.

Spread Explained: In the trading world, the ‘spread’ is the difference between an asset’s buy and sell price. It’s like the gap between what you pay for something and what you’d get if you sold it back immediately.

Bitvavo’s Spread – Keeping it Slim: At Bitvavo, the spread hovers around a sleek 0.60% on average. This is a pretty tight spread, which is great news for traders. Why? Because a lower spread means you’re closer to breaking even (or making a profit) right from the get-go.

Trading Fees – The Additional Slice: Remember, Bitvavo’s trading fees start at 0.25%, which adds to the price value. So, when calculating the total cost of a transaction, factor in both the spread and this trading fee.

Why the Spread Matters: You won’t see these big spreads flaunted on Bitvavo’s platform, but it’s important to remember. It’s a key indicator of how quickly you can recoup your investment (or even turn a profit) when the price of your asset goes up.

In short, the lower the spread offered by a provider like Bitvavo, the faster you can potentially earn back your investment following a price rise. It’s a vital piece of the trading puzzle, especially for those looking to make a lot of trades.

The Bitvavo’s hosted wallet Explained

Bitvavo has a great hosted wallet. Buy your crypto on their platform, and it will land in your hosted wallet. Easy peasy. But here’s where you call the shots—either let your crypto sit in Bitvavo’s wallet or move it to your external Crypto wallet.

  • If you’re in it for the long haul, hanging onto your crypto in Bitvavo’s wallet might have you biting your nails. But for the quick-trade crowd, it’s perfect. You’re in, you’re out – it’s like a crypto drive-thru.
  • Do you trade crypto elsewhere? Bring it to Bitvavo, trade it, stake it, and make it work for you.
  • Fancy sending your crypto to another wallet? You can do that. Bitvavo’s like a careful gatekeeper – you must verify the receiving address. So, if you plan to hop wallets like a pro, keep this in mind.
  • One tiny hiccup with Bitvavo’s wallet? No cross-chain transactions. Nobody’s perfect.

Remember that coins held for a long time are sometimes better stored in a secure Crypto Wallet. This approach combines well with using Bitvavo as an exchange for trading your crypto.

The Bitvavo Tradingview

Bitvavo rolls out the red carpet with its trader-focused dashboard. It’s like having your crypto command center. Whether you’re a newbie or a seasoned pro, they’ve tailored their dashboards to fit your style.

The New Kid on the Block – The ‘Beginner’ Dashboard: Calling it ‘beginner’ might be modest. This dashboard is the go-to, even for old hands in the crypto game like us. It’s your straightforward crypto shop – buy, sell, and keep tabs on your digital treasures, all with a few clicks. The layout? Super intuitive. You’ve got your buy and sell zones, a nifty graph showing your chosen crypto’s ups and downs, and a neat roundup of your trading history.

The Advanced Dashboard – The Deep Dive: The advanced dashboard is where the trading magic can happen for those who want to dial up their trading game. More tools, data, and control – it’s like upgrading from a bicycle to an electric bike.

In essence, Bitvavo gets it right with its dual-dashboard approach. Whether you’re dipping your toes or diving headfirst into crypto trading, their platform adjusts to your pace.

Bitvavo Tradingview Advanced

Bitvavo steps up its game with an advanced dashboard like a treasure chest for the savvy trader. Am I not diving into every nook and cranny here? Let’s spotlight the cool stuff that differentiates it from the simple dashboard.

  • Advanced Means Business: This isn’t your average trading playground. It’s for those who’ve got their crypto boots laced up tight and are ready to tango with more intricate trading moves.
  • The Power Tools: The advanced dashboard is like a Swiss Army knife for crypto trading. You’ve got:
  • Buy and sell options that aren’t just your basic moves. We’re talking limit, market, and stop limit functions – the whole shebang.
  • Access to all EUR markets. It’s like having a VIP pass to the whole Euro crypto party.
  • A live market order book. Here’s where you see the spread in real time, giving you a bird’s eye view of the market pulse.
  • Depth chart action. This one shows you the tug-of-war between average buy and sell prices. Tradeview graph. It’s not just a graph; it’s a crystal ball showing you the ups and downs of your chosen crypto.
  • A dashboard for your current orders and their history. Keep track of your crypto conquests and strategies.
  • A detailed overview of your trades.
  • The advanced dashboard is Bitvavo’s saying, “Welcome to the big leagues.” It’s perfect for traders who want to go beyond the basics and dive deep into the crypto ocean if you’re ready to play in the major league of crypto trading.

    Bitvavo trading-dashboard-

    Bitvavo’s dual-dashboard

    Bitvavo’s dual-dashboard setup caters to different crypto trading styles, each with unique advantages and drawbacks. Here’s a breakdown of what the advanced dashboard brings to the table compared to its simpler counterpart:

    Pros of the Advanced Dashboard

    • Limit Orders, Including Stop Limit: This feature is a game-changer, offering precision control over your trades. It’s like having an autopilot for your buy and sell orders.
    • Quick Crypto Swaps: Switching between cryptocurrencies is swift, making it easy for those who want to manage multiple coins.
    • Live Order Book: Get real-time insights with a live view of buy and sell orders. It’s like having a crystal ball for market movements.
    • Tradeview for Analysis: This is a biggie for analysis buffs. Tradeview charts provide in-depth market insights, perfect for crafting your trading strategy.

    Cons of the Advanced Dashboard

    • Language Barrier: Sorry, Dutch speakers, this one’s English only.
    • Tradeview Loading Lag: Patience is key, as Tradeview can be sluggish when loading up.
    • Fixed Layout: Do you like your workspace a certain way? The modules here aren’t movable, so customization is limited.

    Choosing Your Dashboard

    Deciding between simple and advanced dashboards boils down to your crypto journey. If you’re in it for the long haul (the HODL life), the simple dashboard is your go-to for ease and convenience. But, if you’re all about the daily hustle of day trading, the advanced dashboard packs all the tools for your trading toolkit.

    Bitvavo’s advanced dashboard is like a high-tech cockpit for crypto trades. It has the gadgets and gizmos for the hands-on trader, though it’s not without its quirks and learning curve.

    Is Bitvavo the real deal?

    That’s the million-dollar question. When you’re about to dive into crypto trading, you don’t want to end up in hot water because the platform gave you the cold shoulder or worse.

    I have highlighted Bitvavo’s respectable history in Europe’s crypto exchange domain. However, no journey is without its bumps, and Bitvavo encountered 2022 an unexpected challenge that raised some eyebrows. This incident with 280 million stored at the Digital Currency Group (DCG) was somewhat of a curveball, prompting the question if it was foreseeability for Bitvavo as a company. This moment tested the resilience and adaptability of Bitvavo, underscoring the importance of continuous care and transparency from companies like Bitvavo with our funds. Today, there is a plan to return all the funds to Bitvavo.

    The Trust Signals: Bitvavo isn’t playing hide-and-seek.

    • Annual Results? Check. The Chamber of Commerce displays Bitvavos cards for everyone to see.
    • Social Butterflies. You can catch them on multiple social media channels, not shying away from the spotlight.
    • Money’s Safe and Sound. Stichting Bitvavo Payments keeps your funds tucked in tight.
    • Regulation’s Bitvavo B.V. plays by the rules regulated by the Dutch Central Bank.
    • Trustpilot’s Big High-Five. With a score of 4.1 out of 5 from a whopping 16,766 reviews, it’s like a crowd of fans cheering them on.

    So, is Bitvavo trustworthy? From what I could find, they’ve got their act together. But as with any big decision, compare other Crypto Exchanges and see if Bitvavo fits your taste and style, or consult a financial advisor if you are unsure.

    Bitvavo’s Security

    When I am talking about the safety and security of Bitvavo, it’s like asking if you can trust a bank with your gold. In crypto, security isn’t just about keeping the bad guys out. It’s also about ensuring you don’t accidentally leave the door open. Bitvavo is like a digital Fort Knox, coupled with a ‘don’t-share-your-keys’ mantra.

    Bitvavo’s Security Arsenal:

    • The standard username and password are the mandatory first lines of defense. Your email address and a strong, personal password are your gatekeepers and should always be uniquely created.
    • Two-factor authentication (2FA) is like having a double lock on your door. Even if someone guesses your password, there’s still another barrier.
    • Device and IP Management: Bitvavo monitors who’s logging in and from where like a digital bouncer checking IDs.
    • Insured Cold Wallets are ultra-secure vaults offline and out of reach from cyber thieves.
    • Multi-Signature Storage: This isn’t your average lock and key. It takes multiple keys to open this treasure chest, adding an extra layer of security.
    • SSL Technology: It’s like wrapping your application in a digital armored jacket.
    • Allowlist Management: Control who receives your crypto, like a VIP list for your digital assets.
    • Email Verification for Withdrawals: Every time you want to record a transaction, you must give it the nod via email.
    • Anti-Phishing Code in Emails: This is Bitvavo’s secret handshake, ensuring the emails you get are legit.
    • Dedicated Support for Security: A full page just for security advice.
    • Crypto withdrawal lock: The Bitvavo Crypto Withdrawal Lock allows users to block cryptocurrency withdrawals from their accounts, enhancing security against hacks or scams. It can be deactivated quickly and securely by verifying identity through a 1 euro payment that will be credited to the account balance.

    With these measures, Bitvavo isn’t just playing it safe; they did everything you could expect and more. It’s a two-way street, though. As a user, your vigilance is key. Always be on guard, just like Bitvavo is, with your crypto.

    Bitvavo Account Guarantee

    The Bitvavo Account Guarantee ensures users are eligible for reimbursement up to EUR 100,000 if unauthorized access leads to fund misappropriation, despite Bitvavo’s high-security measures. This program covers unauthorized crypto and euro withdrawals but excludes incidents like incorrect transactions, regretted trades, or losses due to user negligence. It’s a non-regulatory, exclusive offer by Bitvavo to boost user confidence in digital asset trading.

    In short, Bitvavo’s security is more than just a locked door; it’s a comprehensive, multi-layered fortress. They’ve got your back and even insure it, but remember to do your part. Stay sharp, stay secure!

    My Conclusion about Bitvavo

    My experience with Bitvavo has been positive overall. The website is user-friendly and straightforward, making navigation a simple task. The trading platform is also easy to navigate, a significant plus for users. Bitvavo offers a diverse range of cryptocurrencies, often at competitive prices. I have found that transactions for both buying and selling are executed swiftly, and the fees associated with these transactions are transparent and known upfront. Regarding security, Bitvavo appears to have implemented thorough measures, as detailed earlier and on their wallet review, ensuring high safety for customer data and assets.

    Pros and cons

    After researching and personally engaging with the Bitvavo platforms, I have refined our insights into a straightforward list of pros and cons for their platform.

    Pros

    • Competitive Pricing: Bitvavo stands out as the most cost-effective exchange in the Netherlands.
    • Customer Support: Their multilingual customer service caters to a broad user base.
    • Extensive Crypto Selection: With over 200 cryptocurrencies available, choices abound.
    • Staking opportunities: Easy staking and lending services for over 24 cryptocurrencies.
    • Convenient Payment Options: iDEAL and Paypal are supported, adding to the ease of transactions.
    • Top-Notch Security: Bitvavo’s security measures are robust and comprehensive.
    • User-Friendly: The platform is designed to be accessible for beginners and advanced traders.
    • Financial Safeguards: Funds are externally managed to ensure safety in the unlikely event of Bitvavo B.V.’s bankruptcy.

    Cons

    • App Limitations: Advanced trading features are not available through the app.
    • Logging on to the app may fail or cause delays during peak usage times.
    • Limited Customer Service Options: There is no option for telephone customer support.
    • No Cross-Chain Transactions: The platform does not support cross-chain transactions.
    • Mandatory Verification: Wallet address verification is compulsory for all users.
    • Lack of Certain Trading Options: Futures and leverage trading are not supported.
    • No Direct Crypto Swaps: The platform lacks trading pairs for direct crypto-to-crypto exchanges.
    • Price Comparison: When benchmarked against global exchanges like Binance, Bitvavo can be more pricey.

    Summary

    The summary of Bitvavo review: Bitvavo brings a lot to the table with its user-friendly interface, extensive crypto options, and strong security measures. However, some limitations, particularly in-app functionalities and certain trading features, might influence your choice depending on your trading preferences and needs. It is one of the best euro pair Exchanges you can use in Europe.

    We value your thoughts and insights. If you believe we overlooked something or have any suggestions, we warmly invite you to share your feedback in the comments section. Your input helps us grow and improve.

    Frequently Asked Questions

    Has Bitvavo been hacked?

    Yes, Bitvavo, which started in 2018, had one data breach in 2024, but no funds were stolen. There’s no information about any other attempted breaches before 2024.

    Is Bitvavo a regulated exchange?

    Yes, Bitvavo is regulated by the Dutch central bank, De Nederlandsche Bank (DNB). This regulation means Bitvavo adheres to strict European anti-money laundering and counter-terrorism financing laws, ensuring high compliance and security in its operations. They are not a bank, and funds can be lost.

    Where is Bitvavo located?

    Bitvavo is based in Amsterdam, Netherlands. It was founded there and operates within the Dutch jurisdiction, aligning its operations with the country’s financial regulations and standards.

    Data Breach 2024

    Bitvavo confirmed on 30 April 2024 that a security incident occurred where certain customer data may have been exposed. Despite the breach, the trading platform has assured users that critical information, including passwords, remains secure. In response, Bitvavo has launched an investigation to determine the scope of the leak, with preliminary findings suggesting that Dutch customers are predominantly affected. The company remains committed to transparency and is actively working to reinforce its security measures to prevent future occurrences.

    Tip: For security reasons, it’s recommended that you change your email and password.

    Disclaimer

    This article is for educational purposes only. We are no financial advisors. The information provided from SmartOptions is for informational purposes only. It should not be considered legal or financial advice. You should consult with a financial advisor or other professional to find out what may be best for your individual needs and risk tolerance.

    Please do your own research and never let anyone trade your account for you. We do not support or advertise Fund Management in any kind of manner. We solely review signal providers, their work/analysis/provided education. Please read this disclaimer and leave the website if you disagree with it.

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    RisingSun
    RisingSun
    A creative entrepreneur in the tech space, whatever that is as long as we keep the human connection. I love to learn new things, Hands-on Crypto and web3 enthusiast with an interest in investing in general. Accepting the world for what it is and learn from its history. Anything you can say has been said already we only change the wording to the times we live in.