Bitvavo Review
9
(our review)
Dutch cryptocurrency exchange Bitvavo has over one and a half million users. That makes it the largest on in its local market. It offers more than 300 digital currencies, with low transaction fees and an easy way to stake crypto. In our review, we rate it a 9.
Content:
Please note: investing in cryptocurrencies like Bitcoin involves risks. You may lose (some of) your deposit
What characterizes Bitvavo?
In regards to the cryptocurrency exchange market, Dutch broker Bitvavo is one of the biggest platforms in the country. With 34 billion euros, it recorded the highest cumulative volume in euros in 2023. Mark Nuvelstijn, CEO of Bitvavo said: “We are proud to be the go-to market for spot volumes in euros. In December 2023, Bitvavo had the largest market share, with 50.5 percent of the total trading volume.”
Internationally, it is not the cheapest crypto broker. However, it does have low fees. It also does not have the largest product offer, but with over 300 digital assets, it has plenty to offer. Even for professionals. The platform is robust, with a lot of features. It also offers crypto staking. In our opinion, this makes it a complete platform with the best overall score.
Usability
Bitvavo’s website is easy to use for novice traders, as well as for experienced traders. It also has an app, available for Android and iOS. In the app, you can keep track of your crypto wallet. It also enables you to trade cryptocurrencies on your mobile phone.
The platform has a simple interface for novice investors. It also has a more advanced dashboard for the experienced trader. Buying cryptocurrencies at market value is easy, but you can also place limit and stop-limit orders.
Product offer
Bitvavo has a complete product offer, with several options for trading, staking, crypto-lending and limit orders. At the time of writing this review, Bitvavo offered over 300 cryptocurrencies. With almost all of these features, the platform is among the top. The product range is big enough for even experienced traders.
Novice investors can use the simple buy and sell modules in the dashboard. With these, you are trading cryptocurrencies via market orders. The platform also includes its own wallet. Bitvavo also offers an automated investing feature, through which you can invest periodically. This eliminates the need to time your trading.
Bitvavo also has an exchange with more features for experienced traders. It works with the same pricing model. In this dashboard, it is possible to place limit orders and stop-limit orders. It offers the following options:
- Good Til Canceled
- Immediate Or Cancel
- Fill or Kill
Bitvavo fees
The platform has a fixed rate of 0.25 percent per transaction, which is pretty low. It applies discounts for professional traders, but the first discount comes after a minimum transaction volume of 100,000 euros. It only applies if you achieved that volume within 30 days. As a normal investor, it is best to ignore those discounts.
The 0.25 percent transaction fee makes Bitvavo a cheap platform. Withdrawals and cash deposits made through online bank transfer are also free. For payment methods like credit cards or PayPal, it does charge transaction fees.
Reliability
In our opinion, Bitvavo is a reliable platform. With over one and a half million users, it is one of the most popular platforms in the Netherlands. It has also made steps that make it available in other European countries.
The platform has also implemented measures to increase security. Besides solutions like two factor authentication and pre-verifying new devices via email, it works with an anti-phishing code. You have to set this up yourself, but after that, Bitvavo includes the code in every email. This way, you can always verify that an email is actually coming from the platform.
Current regulations for cryptocurrency platforms are limited. Currently, Dutch watchdogs do not yet actively provide supervision of crypto brokers. This means that there is no monitoring of the platform yet.
Review score Bitvavo: 9
In our last review, we rated the platform of Bitvavo a 9. It is currently our preferred platform for crypto trading. The rates are competitive and the product range is big. In addition, Bitvavo offers a lot of extra information. It is a user-friendly platform, both on desktop and in the mobile app. As a result, we gave the platform the highest score in this segment in our last review.