Bitvavo is a Netherlands-based exchange with the mission to make digital assets accessible to everyone.
Bitvavo Review
Bitvavo, launched in 2018, is a high-end exchange where users can easily and securely buy, sell, trade, and withdraw digital assets. Based in the Netherlands, this exchange offers users more than 180 tradable assets with low fees.
Differences from Competitors
The Bitvavo platform has positioned itself differently from its competitors since its inception and claims to have six different features on different topics. These six features are as follows:
- An intuitive platform that is both suitable for beginners and experienced traders.
- A ‘one-stop shop’ where it is possible to trade, withdraw, deposit, and store your digital currency.
- An extremely competitive fee structure that allows us to be one of Europe’s most competitively priced exchanges. Customers even can get ‘rebates’.
- A highly secure platform where most of the digital currency is saved on cold wallets.
- A multifunctional API that can be used to build numerous applications.
- A secure account was due to two-factor authentication.
History of Bitvavo
Launched in 2018 in Amsterdam, the Netherlands, this exchange has a daily trading volume of approximately USD 100,000,000. The exchange operated in 29 European countries and was regulated and registered by the Dutch Central Bank (DNB) in November 2020.
Since its inception, the company has emphasized the following values:
- Transparency – aiming to be as transparent as possible in fees and other communications.
- Accessibility – building a platform and products that can onboard anyone.
- Forward-looking – believing in the digital economy and the future it is aiming to bring.
Exchange Fee Charges
Serving the European region, this exchange offers its users low fees compared to its competitors. New users of the exchange are charged 0.25% for taker trades and 0.15% for placing maker offers, but they can also reduce their fees by increasing their trading volume and moving to a higher trading fees tier.
Bitvavo mainly uses a transaction fee system, which is based on the cumulative trading volume of its users in the past month, divided into nine tiers. For example, when a user’s monthly trading volume exceeds EUR 25,000,000, the transaction fee drops to 0.04% for purchases and 0.03% for maker orders.
As for deposits and withdrawals to Bitvavo, cryptocurrency deposits to this exchange are free of charge, and users can pay through eight different payment channels.
Registering on Bitvavo
It should be noted that there is a KYC/AML check, which is a bit challenging for users who want to register on this exchange. Users who will register can register through both the exchange’s web platform and mobile application. As of the time of writing, the countries where Bitvavo operates are as follows:
- Austria
- Belgium
- Bulgaria
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Hungary
- Ireland
- Italy
- Latvia
- Liechtenstein
- Luxembourg
- Lithuania
- Malta
- Netherlands
- Norway
- Poland
- Portugal
- Romania
- Slovakia
- Slovenia
- Spain
- Sweden
- Switzerland
- United Kingdom
This exchange, which is an institution serving entirely in the European region, does not serve users outside the countries listed above, including the United States.
Bitvavo’s Security System
When we look at the security system of this exchange, we can easily say that this organization is one of the most secure exchanges among crypto exchanges. Frankly, in retrospect, we see that there was no security breach of this exchange other than minor identity theft. In fact, when visiting the official website of the stock market, it is underlined that it has strict security protocols and scanning procedures.
Additionally, in case of misfortune, Bitvavo offers a “Bitvavo Account Guarantee,” which promises to reimburse its users for up to EUR 100,000 in case someone manages to access their funds without proper authorization.
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