Bitpanda is a popular choice for people in Europe to purchase popular cryptocurrencies using a credit card or SEPA deposit. Bitpanda supports trading of BTC, ETH, DASH, LTC, BCH, XRP and a few other cryptocurrencies.
Recently, Bitpanda announced a few major changes to the system which caters to a varied audience. In this coverage, you will learn about these new changes, and if you hail from the European region, you have one more reason to rejoice today!
Bitpanda Credit Card Purchase Limit Increases To €10,000
BItpanda is one of the very few European exchanges that lets users purchase cryptocurrencies, including Bitcoin, using a credit card. In a major boost to its users, Bitpanda has increased the purchase limit from €2500 to €10,000. Just so you know, €10,000 is the daily limit, a huge amount, which is expected to further foster the growth of cryptocurrencies.
Outside Europe, there are only a few high-quality crypto exchanges (eg: CEX, Coinmama) that support buying cryptos using a credit card. With the banking sector becoming more cautious with regards to their relationship with cryptocurrency exchanges and services, having an option to purchase cryptos using a credit card and higher limit is a right step for the future of cryptocurrencies.
Along with the increased credit card limit, SEPA deposits and withdrawal (daily) can now be increased up to €500,000 – previously capped at €10,000.
To enjoy the higher limit and avoid fraud at the same time, Bitpanda allows new users to make their first transaction limited to €2500. Only after the first transaction can you enjoy the increased limits.
KYC and AML for larger deposits & OTC Services:
If you deposit a larger amount, Bitpanda may demand proof of funding source to comply with the KYC and AML law. For high volume traders, Bitpanda also offers over-the-counter (OTC) services. OTC services are available for customers with purchasing or selling amounts in excess of €1 million.
As stated in the announcement:
This is a highly specialized and exclusive service and is tailored to individual customers. If you’re interested in trading amounts over €1 million and require specialized service, please fill out this form so we can review your requirements.
This service is referred to as Bitpanda Plus, and interested customers can apply for this service by filling a form here.
As stated on the page, here are some benefits of Bitpanda Plus:
- Europe’s leading digital asset trading platform
- Ability to trade BTC, ETH, DASH, LTC, BCH, XRP and more
- Full wallet integration for all tradable assets
- Industry-leading in KYC/AML
- State-of-the-art security system
Over to you
What do you think of the increase in the credit card limit on Bitpanda?
What other exchanges do you use in the European region to trade cryptocurrencies? Do let me know in the comment section below.
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