Bitpanda is the trading name of the Austrian crypto exchange, payment processor, and merchant service provider Bitpanda Payments GmbH.
The Austrian regulator FMA granted Bitpanda an e-Money Institution (EMI) license in March 2022. Additionally, Bitpanda is authorized by the French AMF.
BitPanda is one of the new crypto unicorns. The start-up focuses on European markets, with offices in eight cities across the region, including Vienna, Barcelona, Berlin, Krakow, London, Madrid, Milan, and Paris.
In August 2021, Austria’s first crypto unicorn announced a $263 million Series C, led by Peter Thiel’s Valar Ventures, at a valuation of $4.1 billion.
Bitpanda offers its clients trading and investing in various assets – crypto, stocks, and ETFs. It expanded into the B2B market and operates a white label platform offering that lets other fintechs and banks offer trading to their own clients.
In August 2022, users repeatedly reported that customer service had very long waiting times, accounts were frozen or deactivated, or customers were threatened with police/legal action.
Customers repeatedly report that Bitpanda requires them to provide proof of funds to access their assets, but after successfully providing this proof, the assest are still blocked for no reason.
We put Bitpanda on our watchlist due to the increasingly bad reviews and rank them in our “Orange Compliance” list.