Bitvavo Exchange Review

Searching for a protected platform to purchase, sell and stock cryptocurrencies? Our Bitvavo Exchange review will give you the rundown on its advantages and services.

Bitvavo offers a secure and user-friendly platform for exchanging cryptocurrencies with a variety of altcoins, low trading costs and speedy transactions. It’s an awesome selection for beginners, experts and experienced traders. So much to offer!

What is Bitvavo

Bitvavo is a trading platform formed in 2018 that offers users easy and efficient ways to buy, sell and store cryptocurrencies. It has become one of Europe’s biggest crypto exchanges.

Bitvavo is a cryptocurrency exchange that appeals to both novice and professional traders.

Before signing up, users should be aware of its advantages and disadvantages:

• One major advantage of Bitvavo is its low transaction fees. The base trading fee is 0.25%, making it one of the lowest on the market. Furthermore, its fees are much lower than Binance or Kraken. This makes it great for cost-conscious traders.
• In addition, Bitvavo offers various features. These include a simple user interface, many payment methods and 24/7 customer support. Moreover, it offers almost all major cryptos plus some more obscure alternatives.

Nevertheless, there are still areas for improvement. For example:

• Deposit times for certain payment options can be slow. There is no clear indication as to how long deposits will take.
• Additionally, users cannot set stop loss or take profit orders.
• Verifications may take up to two days.
• During peak trading hours, customer support can become overwhelmed, meaning users may have to wait longer for a response.

Although there are advantages and disadvantages to using Bitvavo Exchange, the pros outweigh the cons. It could be a good option for novice and experienced traders who want access to cryptos quickly, without lengthy sign ups or verifications processes.

Cryptocurrencies on Bitvavo

Bitvavo is a Netherlands-based cryptocurrency exchange. It has a selection of cryptos to buy and sell. Over 50 coins are supported, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Ripple (XRP). Purchase these using euros with bank transfer or credit/debit card.

Bitvavo Features

Bitvavo has a comprehensive wallet system and a mobile app for on-the-go trading.

This platform is user-friendly and easy to navigate, suitable for both beginners and experienced traders.

It accepts bank transfers and other payment methods, for example iDEAL, SOFORT and SEPA.

What makes Bitvavo special is its support for multi-signature hardware wallets like Ledger Nano S’s. This allows users to store their bitcoins safely while trading easily. This feature is absent in most other exchanges, which only require user passwords or passwords protecting account login credentials.

The app offers lots of features, such as

• the ability to monitor prices
• trade with two clicks
• contact customer service through Live Chat

This saves time and effort, since users won’t have to access the website every time they need help or check market changes.

Bitvavo Trading Options

The exchange has deep liquidity and high trading volumes during peak hours. Also, it has access to the best execution prices in the market, which will attract institutional investors looking for reliable, low latency trade execution. But crypto markets can be unpredictable, so caution should always be used when entering a position.

How to Create and Verify a Bitvavo Account

Creating a Bitvavo account is easy. In a few steps, you can be done:

1. Register on the site. Enter your personal info and confirm reading the Terms and Conditions.
2. Select your preferred currency: Euro (EUR) or Bitcoin (BTC).
3. Choose a bank account or cryptocurrency payment method to deposit funds.

Verifying your Bitvavo account needs a valid government-issued photo ID document, such as a driver’s license or passport. Plus, add proof of residence like a utility bill. After submission, they will notify whether verification was successful.

How to Deposit and Withdraw Money on Bitvavo

Depositing on Bitvavo is simple and hassle-free. You can use any payment option they offer – bank transfer, debit/credit cards, PayPal, or Giropay. Funds must be sent into your account before buying any crypto, since your bank or card info is not stored. Depending on the payment method, a fee could be required; check the Bitvavo website for the payment options and their fees.

When withdrawing money from your Bitvavo account to a different currency exchange or to a bank account, you must select the crypto you’re trading and enter the wallet address and destination wallet type (Bitcoin address, Ethereum address, etc.). Withdrawals via exchange are instant, but withdrawals to a bank account may take longer due to processing and international regulations. Also, some withdrawals include fees, ranging from $0.50 to 0.100% of the amount withdrawn. Some exchanges charge additional fees for some withdrawal destinations.

Bitvavo Fees and Limits

Bitvavo boasts a competitive fee structure with no charges up to €1000 and a fee of 0.25% per trade later on.

Fees are charged for exchanging on Bitvavo. They range from 0.25% to 0.10%, based on the currency and amount traded per month. The smallest transaction cost (in Euros) is €0.05 while the least withdrawal is €2.00 a month.

Using Bitvavo’s affiliated payment methods (iDEAL & SOFORT) gives you discounts for deposits with Euro. But, when withdrawing in Euro, you’ll have to pay a fee up to 2%.

Bitvavo stands out with its sensible fees and deposit/withdrawal limits. This makes it a great option for traders who want to exchange multiple currencies at reasonable rates in a secure space.

Bitvavo Security Measures

Bitvavo takes security seriously. They use advanced measures to protect customers and their funds. Most cryptos are kept in cold wallets, away from hackers. It’s estimated over 95% of assets are kept safe.

It has top security measures, anti-fraud tools, KYC verification, and clear regulations on fees. This ensures users feel safe and informed about their finances.

Bitvavo also uses multi-layered authentication. This includes two-factor authentication, third-party audits, and regular system tests. They comply with Dutch Central Bank regulations, and report suspicious activities.

Data is kept private through encryption, data encryption at rest, SSL certificate verification, firewalls, tokenized authentication tokens, and other safety protocols. This shows Bitvavo can be trusted to keep funds safe. A priority amongst traders!

Bitvavo Customer Support

Bitvavo values customer care and support. As a global exchange, it provides the best support around for customers. They can access multiple customer service channels like live chat, emails, and phone calls.

• The Live Chat feature is open 24/7. It’s great for quick support, especially when signing up, KYC/AML assistance, fund transfers, deposits, technical issues, and withdrawals.
• For more complex queries, customers can email Bitvavo. They are usually replied to within 24 hours.
• Phone support is available 9am – 5pm CET Monday – Friday for urgent inquiries. The hotline helps customers with complicated account and transaction issues that may need extra verification or assistance from other departments.

Bitvavo always offers great customer care. These services guarantee a pleasant experience for any inquiries.

Frequently Asked Questions

Q: What is Bitvavo?

A: Bitvavo is an Amsterdam-based cryptocurrency exchange that enables users to buy, sell, and store cryptocurrencies.

Q: What fees does Bitvavo charge?

A: Bitvavo charges a fee of 0.25% for cryptocurrency purchases and sales. For deposits and withdrawals, Bitvavo does not charge any fees.

Q: What cryptocurrencies does Bitvavo support?

A: Bitvavo currently supports over 50 different cryptocurrencies, including Bitcoin, Ethereum, Ripple, Litecoin, and more.