- Bitpanda is a well-known and highly regarded "neobroker" headquartered in Austria.
- Customers can trade crypto and precious metals plus set up savings plans and spend crypto with the Bitpanda card.
- Not currently available in America, these alternative brokers and exchanges offer similar services.
The leading neobroker in Europe is Bitpanda. Founded in Vienna, Austria in 2014, BitPanda believes that investing should be easy for everyone and anyone.
In early 2021 the company raised $170 million in funding , allowing it to diversify away from cryptocurrencies, expand into other financial securities, and valuing the company at $1.2 billion. Although it is an established, reliable, and trustworthy company, Bitpanda is not currently available to customers in the USA.
There is no single replacement for Bitpanda offering the exact same combination of services for the US market — investing in crypto and precious metals, debit card access, interest on crypto savings, etc. However, there are many other secure, reliable and low cost platforms that offer some of the main functionality of Bitpanda, each tailored to a certain demographic and with its own pros and cons.
Based on hours of research and our own experience, these are the Bitpanda alternatives you're looking for.
One of the most widely used and trusted fintech companies operating in the cryptocurrency industry is San Francisco-based Coinbase. The platform, founded in 2012, offers users a secure and safe way to buy, sell, and store different cryptocurrencies, including Bitcoin, Ethereum, litecoin, Tezos, and NEM. WIth a user-friendly interface and safe and reliable service, Coinbase is recommended for those looking to buy or sell crypto.
Unlike other cryptocurrency platforms, Coinbase offers its Fiat currency in USD as opposed to the Euro or Pound Sterling. Despite this, the platform is used by an estimated 13.5 million users daily and continues to grow year after year.
- Low minimum required to open an account.
- Cryptocurrency held in your account is insured if the website is hacked.
- Spend your crypto using a Visa debit card.
- Higher fees than other companies.
- Cryptocurrency choices may be limited.
One of biggest innovators in the fintech industry is Robinhood. The company was founded in 2013 in Menlo Park, California and has been changing fintech ever since. Before Robinhood, investors were forced to pay hundreds if not thousands of dollars in commissions and fees to brokerages every month just to buy or sell their stock. Robinhood forever changed the market when they introduced free stock trades, forcing online brokerages, such as TD Ameritrade and E*TRADE, to go commission-free as well.
Robinhood remains one of the most popular investing platforms in the world, not just for stocks and options, but also for crypto. The company has many different types of crypto available for investment, including Dogecoin, Litecoin, Bitcoin, and ethereum. The company also expanded into options, cash management, and margin trading. The website and mobile app are easy to register and even easier to use.
- Free trades.
- No minimum requirement.
- Does not sell bonds or mutual funds.
- Very limited customer support.
eToro is another fintech based company that operates in the stock and crypto industry. Unlike other companies on the list, such as Coinbase and Robinhood, eToro is a leading social trading and investing company, where users can learn about and discuss investing and cryptocurrencies.
Just like Robinhood, eToro charges no account opening, commission, or management fees. Users can invest in a wide range of cryptocurrencies of their choosing.
- Offers 14 cryptocurrencies to trade.
- Social trading allows uses to copy other traders.
- Equity trading is not yet available in the U.S.
- Only available in 42 U.S. states.
Unlike other fintech platforms, Binance is a cryptocurrency exchange that allows users to trade different cryptocurrencies. Founded in 2017 in Seattle, WA, Binance provides users with a safe and reliable platform for crypto trading.
Although competitors also offer cryptocurrencies, Binance has a much broader range with coins such as XLM, Luna, Theta, Vet, KSM, SUSHI, Near, and Tfuel to name a few. To support this extensive list of cryptos, the company charges fees of 0.1% for spot trades and 0.5% for instant selling and buying. Although Binance is one of the few companies that charges fees to support their platform, it’s worth considering due to its customer support, user friendly interface, and extensive crypto offerings.
- Low trading fees when compared to other companies.
- More than 60 cryptocurrencies available to traders.
- Many crypto options to choose from.
- Not available in 7 states.
- Has a trading minimum of $10.
It may be one of the smaller crypto exchanges on the list, but Gemini is growing and expanding its offerings, with over 30 cryptocurrencies available to trade. It also offers its users up to 7.4% interest on crypto stored on their platform, a significantly higher rate than other platforms.
- Higher interest when compared to other companies at 7.4%.
- SOC 1 Type 2 and SOC 2 Type 2 compliant.
- Offers a credit card with 3% bitcoin back on eligible purchases (coming soon).
- Has a complex fee system.
- No ability to trade or invest in precious metals.
CEX.IO is an up and coming U.K.-registered cryptocurrency platform that offers several cryptocurrencies, with a primary focus on being a trusted and secure Bitcoin exchange. The company makes it incredibly easy to purchase crypto with debit or credit cards. The platform offers several options for payments, strong security, reliable 24/7 support, a wide range of API solutions and low commission fees. CEX.IO has established themselves as a powerful exchange, operating since 2013 with more than 4 million users.
- Large, well-established customer base of over 4 million users.
- Cryptocurrency margin trading.
- 24/7 support.
- Not available in 19 states.
- Savings not currently available for US citizens.
- Crypto only. No exposure to precious metals.
1 TechCrunch. "Neobroker Bitpanda raises $170M at a $1.2B valuation to take its trading platform beyond crypto, https://techcrunch.com/2021/03/15/neobroker-bitpanda-raises-170m-at-a-1-2b-valuation-to-take-its-trading-platform-beyond-crypto/". March 16, 2021.