Bitvavo Review 2023
Table of Contents
- Brokerage Services, Supported Cryptocurrencies & Payment Methods
- The Details
- Bitvavo Wallets
- Deposit & Withdrawal Options
- Trading Platform
- Key features of the Bitvavo platform
- Privacy and Security
- Customer Support
- Additional Information
Bitvavo is a fully regulated EU-based digital asset exchange designed to support the buying, storing, and trading of more than 150 cryptocurrencies. The exchange focuses on delivering a broker-like trade experience with the rates like an exchange.
Founded in 2017 and headquartered in the Netherlands, Bitvavo falls under the regulatory oversight of the Dutch Central Bank (DNB) and the Dutch Finance Ministry (AFM).
Supporting more than 150 cryptos, some of the more popular include Avalanche (AVAX), Binance Coin (BNB), Bitcoin (BTC), Cardano (ADA), Decentraland (MANA), Dogecoin (DOGE), Ethereum (ETH), Pancake Swap (CAKE), Shiba Inu Coin (SHIB), Solana (SOL), Ripple (XRP), the Sandbox (SAND), Terra (LUNA), and stablecoins including Tether (USDT) and USD Coin (USDC).
Bitvavo has a Europe-wide reach, providing services to more than 1 million users across 27 countries.
Bitvavo Platform Attributes
Key attributes of the Bitvavo platform include:
- Reputable and regulated crypto exchange offering services across the EU and the EEA.
- Supports the buying, storing, and trading of 173 cryptocurrencies and stablecoins.
- Accepts 155 supported crypto deposits and fiat deposits in EUR.
- Allows EUR withdrawals and 155 supported crypto withdrawals.
- In addition to buying and trading cryptos, Bitvavo provides custody services and staking.
- Bitvavo offers users off-chain and on-chain staking services, collectively called the Staking Services.
The Pros and Cons
- Crypto Offering: Bitvavo supports the buying, storing, and trading of more than 150 cryptocurrencies and stablecoins.
- Customer Support: Responsive customer support team via Live Chat (Mon-Fri) and by email (Mon-Sun).
- Deposits & Withdrawals: Users may deposit and withdraw EUR or 155 supported cryptos.
- Multi-Client Focus: Bitvavo offers services to experienced traders and institutions via Enterprise Solutions.
- Regulated: Bitvavo falls under the purview of the Dutch Central Bank and the Dutch Finance Ministry.
- Security: 2FA is in place to provide an additional security layer with cold wallets to protect user assets.
- Simple Registration: Easy registration process.
- Staking Services: Currently supports the staking of 17 cryptocurrencies.
- Transparent and Competitive Fees Structure. A dedicated fee page provides users with a breakdown of all fees.
Other positives include
- Affiliate Program: Receive 15% of the trading fees of every transaction executed by referred users.
- No demo account. A responsive support team and easy to navigate platform limits the need for a demo account.
- Bitvavo does not support users in countries outside of the EU and EEA.
- Support team coverage is not 24/7, with Live Chat support only available Monday – Friday, 10:00 – 17:00. There are extended support hours via email, however. When agents are unavailable, users must send an email, with responses usually given within 1 hour.
Bitvavo Video Review
Bitvavo is an online crypto exchange supporting the buying, storing, and trading of more than 150 cryptos.
Regulated in the Netherlands, Bitvavo enables users to deposit Bitvavo supported cryptos or EUR.
In addition to traditional trading, users may earn interest by staking 17 supported cryptos.
Users holding Bitvavo supported cryptos may make deposits via wallet-to-wallet transfers to begin trading. Additionally, users may deposit EUR via Bancontract, Bank transfer, EPS, Giropay, iDeal, Mybank, SEPA, and Sofort.
Bitvavo supported cryptos for deposits include but are not limited to Avalanche (AVAL), Bitcoin (BTC), Cardano (ADA), Decentraland (MANA), Dogecoin (DOGE), Ethereum (ETH), PancakeSwap (CAKE), Polygon (MATIC), Shiba Inu Coin (SHIB), Solana (SOL), The Sandbox (SAND), USD Coin (USD), and Tether (USDT).
To open an account, go to the Bitvavo homepage and click the ‘Sign Up’ icon shown below.
To complete the registration process:
- Select the account you wish to create, personal or corporate.
- Enter your name, email address, password, and country of residence.
- Agree to the ts and cs and acknowledge the risks associated with digital assets and using the Bitvavo platform and click the ‘Create Account’ icon.
- Go to your email inbox, confirm your registration, then click ‘Continue’.
- Log into the Bitvavo platform and respond to the questions prompted.
- Enable or disable the staking rewards option and then click ‘Continue’.
You will now need to complete the identity verification process to have full access to the platform features.
Verification requirements are tiered and are as follows:
|Valid ID + Selfie||X||X|
|Proof of Funds||X||X|
The verification level dictates which platform features users can access. These are as follows:
|Withdraw Crypto||Moderate Limits||Unlimited*|
*Limits are determined based on the additional documents provided by you.
Once you have signed up, we recommend that you set up your 2FA to enhance your security settings before making any deposits. See the Security section for details.
Post Registration Deposit
Upon registering, you will need to make a deposit to begin trading.
To make a deposit, users may either:
- Deposit already held Bitvavo supported crypto.
- Deposit fiat currency via Bancontact, Bank transfer, EPS, Giropay, iDeal, Mybank, SEPA, and Sofort.
To deposit externally held crypto, go to the Bitvavo Dashboard.
- Select the crypto you wish to deposit by scrolling down the assets section or searching for the crypto you want to deposit.
- Click the Deposit icon and copy the Bitvavo wallet address to your external wallet.
- Complete the wallet-to-wallet transfer. Deposit times vary depending upon the network.
Upon funding your Bitvavo wallet, you may begin buying, storing, trading or staking supported cryptos. Sending coins or tokens to the incorrect address may result in the loss of funds.
Supported Crypto Currencies
Bitvavo gives users access to an extensive range of cryptocurrencies and stablecoins. These include but are not limited to Aave (AAVE), Algorand (ALGO), Binance Coin (BNB), Chainlink (LINK), Cosmos (ATOM), FTX Token (FTT), Litecoin (LTC), Polkadot (DOT), Ripple (XRP), Stellar (XLM), Tezos (XTZ), and Tron (TRX).
On the Dashboard page, users can select the crypto to buy/sell, deposit, or withdraw.
For more experienced traders, there is also an ‘Advanced’ page giving traders access to a more advanced trading platform to trade, manage risk, and perform technical analysis.
Bitvavo supports the buying, storing, and trading of cryptos. Additionally, users can stake supported cryptos to enhance returns.
Traders can take buy and sell crypto-EUR pairings and use stop-limit features to manage risk.
Bitvavo provides a simple to use platform for novice traders and an advanced trading platform for more experienced crypto traders.
Additionally, Bitvavo allows crypto holders to stake 17 supported cryptos via the staking services offering.
Users need to have staking services supported digital assets within their Bitvavo account, and Bitvavo will do the rest.
To use the staking services feature, users will need to
- Opt-in to Bitvavo Staking Services. If you did not opt-in when signing up, go to your account dropdown menu and select Staking Services to opt-in.
- Users do not need to carry out any other steps to benefit from the staking services feature.
- The services will apply to all available and supported digital assets on a user account.
Staking Services supports the following cryptos, ARK (ARK), Bitcoin (BTC), Bitcoin Cash (BCH), Cardano (ADA), Chainlink (LINK), Dai (DAI), Ethereum (ETH), Litecoin (LTC), ICON (ICX), NEO (NEO), Ontology (ONT), Tether (USDT), Tezos (XTZ), Tron (TRX), USD Coin (USDC), VeChain (VET), and Waves (WAVES).
Bitvavo calculates rewards based on two factors:
- The current rewards rate is seen in your account.
- The amount of the digital assets you hold in individual wallets daily. Bitvavo views the lowest wallet balance on a specific day and includes assets held in open orders.
Users may view estimated reward percentages, estimated reward values, rewards paid, and pending rewards via the ‘Staking’ page.
Bitvavo provides traders access to interactive charts powered by TradingView.
Via the Advanced page, traders can carry out technical analysis using drawings and technical indicators.
TradingView offers users an array of technical indicators. Users may also select from multiple time intervals.
Additionally, users may view charts with candles, hollow candles, Heikin Ashi, bars, line, area, and baseline.
To view the chart of your preferred crypto pairing, go to the Advanced page and select the asset pairing from the ‘Change Market’ dropdown menu located at the top left-hand side of the Advanced page.
Balances and Trading History
Bitvavo provides users with a detailed overview of all active, pending, and historical transactions on the platform.
Via the Transaction History Page, users may view all transactions, including trade deposit, withdrawal, affiliate commission, internal transfer, withdrawal cancelled, manually assigned, and rebate. Go to your account dropdown menu and select ‘Transaction History’ to view account activity.
Here, users can filter by transaction type, asset, and status, either pending or completed.
Users can view open, order fills, and all markets via the advanced page. The details are as follows,
- Open Orders: Market, Side, Type, Status, Open, Filled, Trigger, and Price.
- Order Fills: Time, Market, Side, Amount, Price, and Fee.
- All Markets: Market, Side, Type, Status, Open, Filled, Trigger, and Price.
Dashboard and Wallets
On the Dashboard page, users may view portfolio level credits, digital asset balances, and total balances in Euro.
Additionally, users may also scroll down and view individual asset balances. Bitvavo provides users with the amount of each digital asset owned and its value in EUR equivalent.
Fees and Charges
Bitvavo has a dedicated “Fees” page with a detailed breakdown of all trading, deposit, and withdrawal fees.
Crypto Deposit and Withdrawal Fees
Bitvavo does not charge deposit fees for cryptocurrencies*. However, there are withdrawal fees.
The fees for digital asset withdrawals can vary due to blockchain congestion. Minimum withdrawals and withdrawal fees for supported cryptos include:
|Cardano||0.2 ADA||1 ADA|
|Avalanche||0 AVAX||0 AVAX|
|Bitcoin||0.00002 BTC||0.00001 BTC|
|Dogecoin||0 DOGE||0 DOGE|
|Decentraland||4 MANA||4 MANA|
|Shiba Inu Coin||400,000 SHIB||400,000 SHIB|
|USD Coin||11 USDC||11 USDC|
*While Bitvavo does not charge crypto deposit fees, customer support advises that users will need to pay mining fees to deposit crypto.
Fiat Withdrawal Fees and Limits
Fiat currency withdrawals fees and limits vary by Bitvavo partner. These are as follows:
|Payment Method||Absolute Fees (€)||Relative Fees||Maximum Amount (€)|
|SEPA Bank Transfer||0.00||0.00%||–|
|SEPA Instant Transfer||0.00||0.00%||15,000|
Bitvavo does not charge EUR deposit fees.
Trading fees are based on trading volumes for the previous 30-days and are as follows:
|Volume (30-days) (€)||Taker Fee||Maker Fee|
Users may locate their crypto wallets on the Bitvavo Dashboard.
You may deposit, withdraw, stake, or trade crypto. Additionally, users may view:
- Individual wallet balances in asset value and EUR equivalent.
- View trade, deposit, and withdrawal histories for each asset.
- Trade cryptos directly from each crypto wallet.
Bitvavo supports the deposit and withdrawal of crypto and EUR.
Users may deposit EUR via Bancontact, Bank transfer, EPS, Giropay, iDeal, Mybank, SEPA, and Sofort.
To make a EUR deposit,
- Go to the Dashboard page and click on the ‘Deposit Credits’ icon.
- Enter the amount you wish to deposit and choose your preferred payment method.
- Complete the deposit and begin trading crypto.
To withdraw EUR from your Bitvavo account,
- Go to the Dashboard page and click ‘Withdraw Credits’.
- Enter the amount you would like to withdraw to your bank account.
- Complete your transaction.
Your bank details are linked to your Bitvavo account during the verification process. You may only withdraw EUR to a bank account in the same name as the Bitvavo account.
To make a crypto deposit, go to the Dashboard page and select the crypto that you wish to deposit.
- Click the Deposit icon.
- For cryptos where Bitvavo only supports the ERC-20 network, you need to type ‘ERC-20 understood in the text box and click ‘Continue’.
- Copy the address to your external wallet and complete the deposit.
To make a crypto wallet to wallet transfer to an external wallet,
- Go to the Dashboard page and select the crypto to withdraw.
- Click the “Withdraw” icon.
- Enter your external wallet address and click ‘Continue’
- Then, enter the withdrawal amount and click ‘Continue’.
- Confirm your withdrawal request by email to complete the transaction.
Sending crypto via the blockchain network incurs mining fees. Network congestion will result in higher withdrawal fees.
Bitvavo supports the trading of crypto and EUR pairings via the Dashboard and Advanced pages.
To trade crypto, go to the main Bitvavo Dashboard.
- Select the crypto you wish to buy or sell.
- Click on the ‘Buy’ or ‘Sell’ icon.
- Enter the amount that you wish to buy (€) or sell (crypto value).
- Click ‘Buy’ or ‘Sell.’
- Once you have entered into the trade, the trade details will appear within the crypto wallet ‘Trades’ section, located below the crypto chart.
For more experienced traders, Bitvavo offers an Advanced interface with additional trade parameters to manage risk. To trade on the Advanced page,
- Go to the Advanced page.
- Select the crypto pairing you wish to trade from the ‘Change Market’ dropdown menu.
- Click on the Buy or Sell trade option.
- Select trade type, either Limit, Market, or Stop Limit.
- Enter the quantity you wish to purchase in the number of cryptos.
- Review the information entered and complete the trade.
- Once you have entered into the trade, the trade details will appear under the Open Orders and then Order Fills located under the Chart section.
Key features of the Bitvavo platform
Crypto Trading: A simple to use platform allowing investors to trade supported cryptos.
Limit/Stop-Limit Trading: Traders may also manage their positions by placing stop-limit or limit trades.
Buy Crypto: For more novice traders, users may purchase supported crypto on the Dashboard page.
Charts: Via the Advanced page, traders may view charts and perform technical analysis to identify entry and exit points.
Trade History: Via the Transaction History, Advanced, and Dashboard pages, users may view trading histories.
Wallet Balances: Users may view individual wallet balances on the Bitvavo Dashboard. In addition to individual wallet balances, total fiat and total digital asset balances are available in EUR.
Wallets Activity: Via the Transaction History and Dashboard pages, users may also view all wallet activity.
Affiliate Program: Bitvavo offers affiliates 15% of the trading fees of every referral trade.
Stake Services: Bitvavo offers staking services for 17 supported cryptos. Users need to hold supported cryptos in their Bitvavo wallets to earn daily.
SUPPORT: Users may contact customer support via the ‘Chat’.
Chat support is available Monday to Friday, between 10:00 and 17:00.
Additionally, users may contact customer support by email at firstname.lastname@example.org.
Email support is available Monday to Friday, between 09:00 and 21:00, and on weekends, between 10:00 and 18:00.
Social Network Platforms: Bitvavo has a presence on Twitter, LinkedIn, and Facebook.
Bitvavo has appropriate security and privacy measures in place.
Privacy and security features include,
2FA: Ensures account security.
To protect user assets, Bitvavo has the following security measures in place,
- Stichting Bitvavo Payments: Bitvavo stores customer digital currencies in an omnibus account issued by Stichting Bitvavo Payments, a separate entity from Bitvavo B.V. Bitvavo B.V cannot impact the funds of Bitvavo users.
- Cold Wallets: Bitvavo stores most users’ digital currencies in cold wallets.
- Multi-signature wallets: Bitvavo cold wallets are multi-signature wallets, limiting access.
Additionally, users can view account activity logs and linked devices via the account dropdown menu.
Bitvavo provides support via live chat and by email. There is also a help center where users can search for instructions and view promoted articles.
Social Media: Bitvavo also has a social media presence.
Some of the more frequently asked questions available on Bitvavo include:
Why is it necessary to verify my identity?
Bitvavo is obliged under European laws and regulations, as supervised by the Dutch Central Bank, to verify your identity before it is possible to use our services. You can easily have your identity verified using your mobile phone.
In almost all cases, the verification process is fully automatic and only takes a few minutes.
How are cryptocurrency prices determined?
Bitvavo brings buyers and sellers of digital currency together, and the principle of supply and demand determines the prices of all digital currencies.
Can I deposit funds using a credit card?
Unfortunately, it is not possible to deposit funds to Bitvavo using a credit card.
Bitvavo is a simple-to-use trading platform giving traders access to a vast number of cryptos.
The platform caters to both novice and experienced traders, with users able to buy and sell crypto-EUR pairings.
As an EU-regulated platform, Bitvavo has the appropriate security measures to protect user assets.
Additionally, Bitvavo supports the staking of 17 cryptos, offering users additional income streams for idle cryptos.
In conclusion, Bitvavo is a go-to platform for European investors and traders looking to gain exposure to the broader crypto market in a secure and regulated trading environment.
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