Bitvavo Review

If you are looking for a secure and proven exchange that will allow you to trade cryptocurrencies within Europe, you should check out Bitvavo. Below we have prepared some information about this platform for you.

Bitvavo introduction​

Bitvavo is one of the younger exchanges on the market. It was established in 2018, but thanks to its rapid development, it has managed to attract a very wide range of customers. The project has its origins in Amsterdam, the Netherlands and focuses on market expansion in the area of European countries. This allows us to trade on the platform in pairs to the EUR. Bitvavo is a member of Dutch Association of Bitcoin Companies. Membership in this organization is a symbol of the exchange’s transparency which prevents fraud and money laundering.

Bitvavo specs

Below is an overview of Bitvavo’s specifications

Registration & Account

In order to trade on the Bitvavo platform, it is necessary to create a user account. The procedure is very simple and requires an email address in order to proceed.

KYC

Creating an account with Bitvavo is a matter of a few moments. All the necessary information is described in a clear, hassle-free manner. Completing the fields and verifying your account will prompt you to fill in your security details. Two-factor authentication significantly improves your security. The next step to protect your profile is to authorize any devices you use when visiting the exchange. For this purpose, you will receive a verification link to the email address you provided each time. After its approval, the new device will be automatically active in the system.

The last thing that remains is the verification of your bank account, which occurs automatically when you fund your wallet in Bitvavo. This is also done to prevent cashing out to an unknown bank account.

Dashboard

From the moment you complete the verification process, as well as make your first deposit, your account is fully operational. Each time you log in, you will see a window in front of you called the “Dashboard”. Here you will find basic information about the funds in your account. You will also see an option to go directly to the Wallet Funding window as well as to withdrawals. It is worth mentioning the low fees that Bitvavo boasts on its platform, which are visible on the right side and range from 0.00% to 0.25%. More on this later.

Buying & Selling

Both buying and selling in Bitvavo are very intuitive. Simply scroll down the “Dashboard” window and from the alphabetically ordered coins, select any asset. In the example below we have chosen Bitcoin. In the upper left corner there is a buy and sell option. When making either operation, simply enter the desired amount and confirm it with the Buy or Sell button. For clarity of operations, a simple line graph of the selected cryptocurrency is shown on the right. If, on the other hand, you are an advanced trader and want to use the order book, it is worthwhile for you to scroll down even further and choose the “Advanced” option. You will then gain access to all the necessary tools.

Of course, in order to make purchases you will need to fund your account. Depending on your country of residence, you have several options to choose from. Any of these should result in your funds being deposited in no more than one business day. A similar waiting time applies to withdrawals or cash-out to bank accounts.

Address book

While in the “Dashboard” section, you can observe your name in the top right corner of the screen. When you expand the list, you will find the “Address Book” option. This is an option that allows you to set up an address for the crypto assets that you wish to store on the exchange. This option makes short-term trading on the platform much easier. However, if you are a long-term trader, you are encouraged to store your assets in so-called “cold wallets” to which only you have access.

Prices

Earlier we mentioned the low fees that operate within the platform. However, these fees vary. This is because the owners of Bitvavo have decided to reward their users for their own trading volume, settled over the last 30 days. The higher the volume, the lower the fees. For more information please visit: 

Here you will also find data on the cost of withdrawing individual coins from the exchange and data on the minimum amount needed for a transfer.

Bitvavo app

As fits a leading European exchange, it has its own comprehensive smartphone application. It is available for both Android and iOS devices. Its size is relatively small, so it does not take up too much space. The smoothness of its functioning is its considerable advantage.

With the app, you can access your account anywhere and anytime. This way you can easily make purchases and sales of cryptocurrencies, and at the same time keep track of market events and react to them instantly.

Affiliate Program

Bitvavo cares about its current as well as future users. Therefore, it provides them with an interesting affiliate program. Using a link, with a specially dedicated code, you can invite your friends and earn with them an unlimited time commission, equivalent to 15% of their trading fees. In addition, your referral can trade their first €1000 in crypto for 7 days, free of charge, for the first week of using the exchange.

Support

Bitvavo also has an extensive support section. There you will find a number of topics, as well as answers to frequently asked questions. The whole thing is explained in a very clear and transparent way, ensuring that you will get the information you need without any hassle. And if your situation is more complex and the answer in the “Support” section is not enough, you will also find an email address where you can contact Bitvavo for more information. You also have quick access to this option from the “Dashboard” section. In the bottom right corner of the screen, you will find a chat window that will allow you to instantly send a question to Bitvavo support. This is a very convenient and practical solution which we absolutely like.

Staking

Another advantage of Bitvavo is the option to staking selected assets. There are currently 17 independent coins available in this space. Before you decide to staking, you can preview the expected rate of return. Depending on the chosen cryptocurrency, it spreads between 0.49% and 7.50% on an annual basis.

Conclusion

From the first moment you use Bitvavo, you can feel like you are in a very comfortable place. The platform is extremely clear and intuitive. It also has a rich offering of digital assets. It favors both new investors and professionals. Its availability in as many as six languages makes the number of clients constantly grow and with it the liquidity of available assets. It is worth noting that Bitvavo’s domain is security, which manifests itself in both membership in the Dutch Association of Bitcoin Companies and the level of protection of individual accounts. The number of ways you can fund your wallet in the app is also impressive.

The costs of exchanging cryptocurrencies in Bitvavo are very satisfactory. Their regressive nature encourages investment. In a similar way the referral system works, on which we can gain not only ourselves but also our invited friends. Staking, which is very popular recently, is also present on Bitvavo. Depending on the choice of assets it brings additional and at the same time measurable benefits from a long-term investment. The whole supported by a smoothly working mobile application, creates a perfectly functioning space.

So if you are looking for an exchange where you can easily buy the cryptocurrencies of your choice while expecting security and transparency, Bitvavo is a place we recommend.