Bitvavo: Comprehensive Review 2022 – Fees, Pros, and Cons

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Bitvavo is a significant crypto exchange that initiated its operations in 2017. The platform has had an extensive reputation for its offerings, providing users with the best trading and convenience for their trading.  While the primary focus of the crypto trading platform is on advanced traders, even beginners can use the platform to trade in cryptos. The user-friendly interface, along with the seamless buying and selling process, makes Bitvavo suited for all.  In addition, there are many other reasons people choose to trade with Bitvavo. Thus, if you’ve been confused about whether or not to sign up with Bitvavo, this review is for you. Continue reading this detailed review of Bitvavo and make an informed decision for your future in the industry.

Pros And Cons Of Bitvavo

Pros

  • High Trading Volume
  • Low Trading Fees
  • Amazing User Interface
  • Security
  • Numerous trading pairs
  • Effectively regulated

Cons

  • Only Euros From Fiat Funds
  • No derivatives or futures trading options

Bitvavo At A Glance

Official Website  https://bitvavo.com/en
Headquarters  Netherlands
Founded in  2017
Native token NA
Number of listed cryptocurrencies  175+
Trading pairs  100+
Supported fiat currencies  EUR
Minimum deposit NA
Trading fees Taker Fee 0.15% • Maker Fee 0.00%
Withdrawal fees Variable
Customer support  Online and phone

Bitvavo: Company Overview

Bitvavo was one of the world’s leading crypto exchanges in May 2017. The company was started by Tim Baardse and Jelle de Boer in Amsterdam. The primary aim behind this launch was to provide Europeans with an easy way to trade their crypto assets. Following this, Mark Nuvelstijn joined the company as a co-founder in 2018.  The Bitvavo platform provides users with a one-stop solution for bridging the gap between cryptocurrencies and fiat money. The lower margins, transparent pricing models, and a wide range of cryptocurrencies further fueled the growth of Bitvavo as one of the largest crypto exchanges in Europe.  What sets Bitvavo apart from others is the Bitvavo Payment Foundation. This foundation came into being when the founders decided to safeguard their traders if things were to go wrong. This, along with support for many languages, was key to fueling the platform’s popularity across the European continent.  The platform supports various languages, including German, English, French, Italian, and Spanish. As a result, it became much easier for Bitvavo to spread its wings and cater to a broader range of customers from all over Europe. Additionally, Bitvavo provides users with advanced and straightforward dashboards to ensure everyone can get into crypto with minimal obstacles.  

Cryptocurrencies Supported In Bitvavo

Bitvavo offers traders an extensive selection of cryptocurrencies and other digital assets. According to its website, the platform offers 175 digital assets making it one of the leading crypto exchanges in the region. So let's check out these cryptocurrencies.   

Cryptocurrency Trading Pair 
Bitcoin BTC/EUR
Ethereum  ETH/EUR 
Cardano ADA/EUR
Reserve Rights RSR/EUR
XRP  XRP/EUR
VeChain VET/EUR
Tether USDT/EUR
Ampleforth Governance FORTH/EUR
Tellor TRB/EUR
Chainlink LINK/EUR
Waves WAVES/EUR
Shiba Inu SHIB/EUR
Avalanche AVAX/EUR
USD Coin USDC/EUR
Cartesi CTS/EUR
IOTA MIOTA/EUR
Litecoin  LTC/EUR
Quant QNT/EUR
Fantom  FTM/EUR
COTI COTI/EUR

  Those mentioned above are just the top twenty cryptocurrencies and trading pairs you can avail of at Bitvavo. Besides these, you can access several other cryptocurrencies and trading pairs through the Bitvavo platform. Lastly, it should be noted that Bitvavo is a spot trading platform that doesn’t offer any derivatives and futures trading options.   

[maxbutton id="3" url="https://bitvavo.com/en" text="Start trading with Bitvavo" ]     

Key Features of Bitvavo

Bitvavo offers a wide range of features and functionalities that allow the platform to stand out in the crowd. Moreover, these features are ideally curated to cater to the needs of both beginner and advanced traders. So let's check out some of the key features that define Bitvavo. 

Access To Educational Resources

Getting started with crypto trading can be an overwhelming experience unless you start with Bitvavo. While the platform does not offer dedicated educational materials for traders, it makes up for that with an amazing user interface. The user interface is simple and intuitive, which will almost make crypto trading simple for anyone.  This interface is designed for beginners, allowing you to learn more as you go. A few days would be enough for anyone to learn crypto trading without conventional resources. However, Bitvavo must consider providing traders with resources and help people garner more knowledge about cryptocurrencies. 

Trading Platform

Who says crypto trading means sitting by your desk all the time? Gone are those days, and Bitvavo is leading the way with its browser-based and mobile-based trading platforms. Additionally, the mobile app is available for both Android and iOS devices. Thus, you now have the freedom and flexibility to trade crypto even on the go.  You can use your Euros for spot trading or benefit from the numerous crypto-to-crypto trading pairs available on Bitvavo. Furthermore, if you use the Advanced mode of the platform, you also get a granular interface with numerous chart indicators and variations. This ensures you never miss a detail and capitalize on every opportunity that comes your way.  You can also use the standard variant for fast and hassle-free cash purchases. Other than that, you can also have the option to use the Bitvavo dashboard for staking and have a seamless experience while generating passive income through your crypto assets. 

Multiple Bitvavo Accounts

Bitvavo offers three types of trading accounts, helping everyone get the one that best serves their requirements. These variants start with the Starter version, followed by Intermediate, and finally, the Pro version. Signing up without verifying your ID will give you access to the starter version. However, the starter version does restrict you from placing or depositing any trades without ID verification.  Upon verification and KYC formalities, you can access the intermediate version and start withdrawing and depositing money. Further, you can even start trading in cryptocurrencies with ease. However, using this version comes with deposit and withdrawal limits resulting in more prominent traders moving to the pro version. bitvavo Traders need to provide the Proof of Source of Funds (POSOF) to transact larger amounts with the pro version. As long as you are compliant with the POSOF regulation, you can enjoy limitless withdrawals and deposits.  

Trading Options

First things first, you cannot trade futures, derivatives, options, or CFDs on Bitvavo since the platform is a dedicated spot exchange. This might be challenging for some pro traders, but beginners and intermediates will do fine.   You can use the advanced interface to male both market and limit orders which are ideal for most serious traders. On the other hand, the conventional interface is better suited for people who wish to hold on to their cryptos for the long term. But the best thing is that you can access a wide range of cryptocurrencies.  

Additional Features Of The Platform

As mentioned earlier, Bitvavo is the ideal platform to make your crypto trading experience simple. We say so because the platform has some noteworthy additional features you need to know about. So let's check out what these features are all about. 

  1. Semi-Customizable Interface: Bitvavo provides users with a straightforward and user-friendly interface to cater to everyone’s needs. But if that does not work, you can always leverage the customization features. Bitvavo provides collapsible sections, day and night modes, and even chart drawing tools. These features are ideally designed to ensure Bitvavo serves your needs effectively.
  2. Free Hosted Wallet: One of the main reasons that Bitvavo stands out is its free hosted wallet. You can use this wallet to store your crypto assets hassle-free and securely. All you need to do is create a free Bitvavo account, and the free wallet comes with you. No matter the digital currency you are trading, you can store all of them and still get a goodnight’s sleep. 
  3. High Trade Volumes And Low Fees: The other great thing about trading your cryptos with Bitvavo is access to a market with a very trading volume. According to reports, the platform records a trading volume of at least € 25000000 every month. Additionally, Bitvavo offers its traders some of the lowest fees, where maker fees start from 0% and takers fees at a mere 0.04%. Thus it becomes a great platform to start crypto trading with limited resources.  
  4. Seamless Staking: Staking is Bitvavo’s specialty, as you already know it. Thus, the platform makes it very easy for traders to stake cryptos. This gives traders an excellent opportunity to earn a significant return. Many experts suggest you can make up to 10% to 20% returns with a seamless staking experience with Bitvavo. Given these offerings, Bitvavo automatically becomes a fantastic crypto trading platform for traders, irrespective of their experience in the field.
  5. Robust API: API or Application Programming Interface plays a crucial role in enhancing the usability of a platform. But more importantly, the API is responsible for enabling one app to interact and connect with the other. Bitvavo comes with a robust API that seamlessly accepts requests and conveys them to the executing system. With Bitvavo’s API, you need not worry about coming across any complications when trading your cryptocurrencies. Thus, this is a software solution you can trust and ensure a good trading experience.

Trading Experience

Bitvavo is a crypto trading platform designed with everyone in mind. Thus, the platform comes with two different crypto trading interfaces for both beginner and advanced traders. These dashboards offer different trading options to suit the requirements of crypto traders. 

Standard Trading With Bitvavo

This is the default dashboard of Bitvavo, ideally designed to help you buy and sell cryptocurrencies in no time. Apart from that, the standard dashboard comes with many other dedicated sections, such as the graph section, trading section, trading history, price section, and even an option to shift to the advanced version.            You can use this dashboard to buy and sell cryptos with a smooth and more or less self-explanatory process. You can even set the graphs in hours, weeks, days, years, and even months to search for prices. The dedicated trade history section will also give you an extensive overview of your trade history with unmatched granularity. 

Advanced Trading With Bitvavo

Bitvavo also offers its users an advanced dashboard best suited for experienced traders. The dashboard has many noteworthy functionalities that make it much better than the standard version, with limited trading options. The possibilities on this dashboard are limitless as it features a wide range of modules not available in the standard version.  For instance, the advanced dashboard can show you all EU markets, Tradeview graphs, trade overviews, and in-depth differences between the average buy and sell. Apart from that, the dashboard also offers buy and sell limits, stop and market limit functionalities, and run market orders with spreads.

[maxbutton id="3" url="https://bitvavo.com/en" text="Start trading with Bitvavo" ]     

Fee Structure

Low trading fees are one of the most vital points of Bitvavo relative to most other crypto exchanges in the market. Besides, your lees will only decrease with increased trading volume. As a result, traders with very high trading volumes will only have to pay a fee of just 0.03% on their trades.  However, beginners starting crypto trading will have to pay a higher fee of 0.25%. Bitvavo allows traders to view the spread and fees they need to pay before completing any trade. This ensures unmatched transparency.        Nonetheless, the platform also charges fees based on the method you use to deposit and withdraw your funds. So let's simplify this with the table below:  

Mode of Payment  Withdrawal  Deposit
SoFort:
  • max/min
  • Speed
  • Fees
  • €10,000
  • Instant
  • Variable
  • €5
  • Instant
  • Free
SEPA Bank Transfer: 
  • Max/Min
  • Speed
  • Fees
  • €25,000 per day
  • 3-5 business days
  • Variable
  • €30
  • 2-3 business days
  • Free
Giropay
  • Max/Min
  • Speed
  • Fees
  • €1000
  • Instant 
  • 1.75%
  • €5
  • Instant
  • Free
iDeal
  • Max/Min
  • Speed
  • Fees
  • 0/2 BTC each day
  • Four hours max
  • Blockchain charges 
  • No limit
  • Instant 
  • Free
MyBank
  • Max/Min
  • Speed
  • Fees
  • €5,000
  • Instant
  • 1.50%
  • €5
  • Intant 
  • Free
EPS Uberweisung
  • Max/Min
  • Speed
  • Fees
  • €1,000
  • Instant
  • 1.75%
  • €5
  • Instant
  • Free
Bancontact
  • Max/Min
  • Speed
  • Fees
  • €10,000
  • Instant 
  • Free
  • €5
  • Free
  • Instant

  However, Bitvavo does not charge any fees for deposits made using EUR. Now that you have a transparent view of the platforms’ deposit and withdrawal fees, let’s check out the details about trading fees. Bitvavo charges trading fees based on the 30-day trading volume of the trader.   

Trading Volume in 30 days Maker Fee Taker Fee
€0 and more 0.15% 0.25%
€100,000 and more 0.10% 0.20%
€250,000 and more 0.08% 0.16%
€500,000 and more 0.06% 0.12%
€1,000,000 and more 0.05% 0.10%
€2,5000,000 and more 0.04% 0.08%
€5,000,000 and more 0.04% 0.06%
€10,000,000 and more 0.03% 0.05%
€25,000,000 and more 0.03% 0.04%

  If you’re a trader with a massive volume of funds, you might want to sign up with the Bitvavo platform as the maker-taker fees significantly reduce the charges over volume.

 

How Secure is Bitvavo?

Its traders' security has always been the highest priority for Bitvavo. As a result, the platform is well-equipped with a wide range of security features to ensure you have a fruitful crypto trading experience. Some of its effective security measures include:

  1. Cold Storage: Bitvavo stores most of your crypto assets safe and sound in cold storage. Since cold storage can be accessed without the internet, your cryptos remain safe from hackers and fraudsters. Besides, the platform has strict protocols for accessing cold storage. 
  2. Vaults: The Bitvavo platform will back all your important data and information in a safe vault that is constantly monitored without fail. These vaults meet safety category 4+, the highest security category in the Netherlands. 
  3. Multi-Signature: The other innovative security feature in Bitvavo includes the multi-signature mechanism. One cannot initiate large transfers without the approval of executive members responsible for ensuring security. In addition, manual verification and approval are mandatory for multiple people. 
  4. Custody: Bitvavo platform has recently partnered with two custodial services to facilitate the safe storage of digital assets. These assets are stored in cold storage, and one will require multiple signatures to access the funds or make transfers. The best thing is that the custody providers are insured for up to $250 million. 
  5. Account Security: Bitvavo also takes measures to ensure the safety of your account. The platform leverages security measures such as two-factor authentication (2FA). Besides, that one can also benefit from the anti-phishing mechanism paired with device and IP management features. 

How To Open An Account On Bitvavo?

Signing up with Bitvavo or opening an account on the platform requires three simple steps. These steps include Step 1: Creating an account on Bitvavo is easy. All you need to do is click on "Sign Up."  Step 2: Enter all necessary details and credentials  Step 3: Click on Create Account Step 4: Verify your account from the email. Step 5: Verify your identification along with an address proof. Step 6: Make a deposit using any of your preferred ways. Step 7: Buy the cryptocurrency of your choice and start trading in no time. 

Customer Satisfaction

Regarding customer satisfaction, it is safe to say that Bitvavo has done an excellent job of satisfying all its users. The platform is equipped with numerous features and functionalities that make it very easy to buy and sell cryptos. Besides, Bitvavo has a verified license, so there is no question about the authenticity or legitimacy of the platform.  The fact that Bitvavo is experiencing a regular increase in its trading volume is certainly a good indicator of its reliability. But besides that, the platform provides you with a wide selection of crypto assets and trading pairs, so you will never run out of choices. Unfortunately, Bitvavo only accepts EUR as a fiat currency which can be a hassle for some traders.  Bitvavo also provides a referral program where one will be rewarded when others join the platform. In addition, the signing process on Bitvavo is as easy as possible and will only take a couple of minutes to complete. But most importantly, Bitvavo ensures its traders’ security and assets, which fuels customer satisfaction. 

[maxbutton id="3" url="https://bitvavo.com/en" text="Start trading with Bitvavo" ]     

Bitvavo Vs. Competition

Bitvavo is a leading candidate in the list of best crypto exchanges of the present time. However, one cannot help but think that many other crypto exchanges also stand out with their distinct offerings. So it becomes essential to weigh your alternatives before deciding to invest your hard-earned money in cryptos.   Let's check how Bitvavo compares to one of its leading competitors, Coinbase. 

Bitvavo Vs. Coinbase

Both Bitvavo and Coinbase are more or less similar in many aspects. But there are certainly some noteworthy differences that have caught our attention. So continue treading as we spell out these differences.  

Criteria Bitvavo Coinbase
Supported Cryptos 175+ 125+
Derivative  No No
Maker Fee  0.15% 2.00%
Taker Fee 0.25% 2.00%
Withdrawal Fee Variable Variable
Credit Services No Yes
Educational Resources Yes Yes
Access To US Residents  No Yes
Deposits in USD No Yes
Safety Unmatched  Relative

  Looking at the detailed review, we can see that both Bitvavo and Coinbase lead in their perspective positions. The review shows how Coinbase takes the lead with its market for the US and the credit services that the users can sign up for. However, Bitvavo takes the lead over Coinbase in terms of transaction fees, transaction fees, and security, providing the platform with a major headstart over the competitor.   

Final Verdict

Bitvavo is one of the finest crypto trading platforms for traders of all shapes and sizes. However, unlike other trading platforms, Bitvavo also has a few pros and cons. Therefore, to help you decide better, we have listed them out in a detailed manner in the section below: 

Should You Consider Using Bitvavo?

  1. Amazing User Interface: The user interface in the Bitvavo platform is highly interactive, making it ideal for all traders. Whether signing up for the platform or trading your cryptos, you will certainly have an ideal experience. 
  2. High Trading Volume: The other great aspect of Bitvavo is the trading volumes of the platform. Such high trading volumes are hard to find in most crypto trading platforms currently available in the market. 
  3. Low Trading Fees: The trading fees charged by the platform are very low compared to most other crypto exchanges available in the market. As a result, Bitvavo has become the most preferred crypto trading platform for many traders. 
  4. Security: Security is certainly a strong point for Bitvavo, as the platform has some of the finest security measures. It takes highly effective measures to ensure the safety of its traders and its assets.           

Shortcomings of Bitvavo

Bitvavo also has a couple of shortcomings that somehow hamper the reputation and reach of the platform. Some of these shortcomings include;

  1. Euro Limitation: One of the most noticeable shortcomings of Bitvavo is it only accepts fiat deposits in EURO. This poses many complications for a significant proportion of traders from different regions of the globe.
  2. Lack of Derivatives: These days, almost every crypto trading platform allows its users to trade in derivatives and futures. However, this is a privilege you would have when trading with Bitvavo. 

When looking at the overall offerings of Bitvavo, it is safe to say that you can invest in this platform without any fear or doubt. Especially for the different offerings that the platform has to provide, covering both beginner and experienced investor and traders over the platform. Overall, the platform seems to be a nice option for users to get started with their crypto journey.  Talking of the shortcomings, Bitvavo barrs a couple of shortcomings as it limits the operations inside Europe and lacks derivatives. Ultimately, it is always a wise move to first understand the functionality of the platform and ensure that you’re well-versed with the different fee structures to make an informed and sound decision. All the best! 

FAQs

 Does Bitvavo ensure two-factor authentication (2FA)?

The security of its traders has always been a matter of concern and priority for Bitvavo. Thus, it takes many security measures to ensure that security. Two-factor authentication (2FA) is also one of those security measures.

 Is verification necessary for trading with Bitvavo?

Verification and authentication are very important trading cryptos on Bitvavo. The platform values and prioritizes safety and security over everything else. Thus, verification is also a part of that effort.

 Can I deposit funds using my credit card?

Bitvavo provides its users with a wide range of ways to make deposits on the platform. But unfortunately, the platform does not accept funds using credit cards. However, with so many options, one would hardly need a credit card to deposit funds.

 Where is Bitvavo's headquarters?

Bitvavo is a company started in the Netherlands, and its headquarters still remain in the country to date. Nonetheless, you can still trade your cryptos on the platform no matter where you stay in Europe.

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