What exactly is Bitvavo

Bitvavo is the largest and cheapest exchange in the Netherlands where you can easily and securely buy, sell, deposit or withdraw various types of digital currencies.

Bitvavo is a digital currency exchange. This crypto exchange is located in Amsterdam and is excellent for both a novice and an experienced trader. You can buy and sell digital coins, also called cryptocurrency, at Bitvavo.

Bitvavo offers a trading platform for digital coins via 3 interfaces. Via a simple interface for novice users, a more advanced interface for advanced users and a clear app for iOS and Android.

3 easy interfaces:

• easy
• advanced
• mobile app

Digital coins are the well-known Bitcoin, but other coins can also be traded here.  Coins other than Bitcoins are named Altcoins. Altcoins is a collective name for all cryptocurrencies other than Bitcoin. The name originated from the word combination of alternative bitcoin, or alternative coin.

Bitvavo also offers Crypto Staking services. This is a kind of interest payment on certain currencies, allowing the user to automatically earn compensation on their purchased cryptos.

Simple interface from Bitvavo

On the homepage you start with your dashboard. This is the simple interface. Below that (not shown on the picture above) you will immediately see all the coins you have with the current value. This value is updated live, so you immediately see what your coins are worth with the current price per coin.

If you now select one of the coins, you will go directly to the interface of that coin. Here you can see how much of that coin you own and its value. You can now directly enter how many euros you want to purchase this coin for and how much of that coin you will receive. 

The current value is continuously updated, so you immediately see what you are getting. Selling is also done that way.

You can also directly select a crypto coin type, so you can buy the selected currency directly with another type of coin. So if you have selected the bitcoin from the homepage, in the next screen you can buy bitcoins with euros from your credit, or you select another currency with which you buy or exchange bitcoins for the current value.

After you have entered the amount, you can complete the transaction with just 1 mouse click. It's that simple! You trade (buy or sell) with the current price of that coin at that time. This is also called the market price.

Advanced Bitvavo interface

You can also trade through Bitvavo's advanced interface. This interface is much more extensive in terms of possibilities and here you can work with current market prices, limit and stop limits.

Here you can indicate per coin whether you want to trade in a euro market ( EUR markets ) or bitcoin market ( BTC markets ).

Trading in the euro market means that you can buy and sell coins against normal euros of your credit. Trading in the bitcoin market means that you buy or sell other coins against your bitcoin balance.

You can also specify a limit at which price you want to buy or sell the coin.

Later we also discuss a third interface, via the Bitvavo app for iOS and Android.

Register for free at Bitvavo

The registration at Bitvavo is very easy. When registering, fill in the requested information and verify your e-mail address. Optional: Verify your phone number and enable two-factor authentication if desired. Then verify your identity by submitting:

1) A scan of the passport (the page with your personal data) or
2) The front and back of the ID

After completing the above steps, your account is ready for use. As soon as you have deposited funds in your account, you can immediately proceed to purchase digital currency.

Bitvavo is available in all European countries

When you register at Bitvavo, you must choose from which country you are from.

You can open a free account on Bitvavo if you are from one of these countries:

Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Great Britain, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and Switzerland.

Limits

Bitvavo does not use daily / weekly / monthly trading limits. Once your account is fully verified you can trade unlimited amounts.

Deposit money into your account

Once registered and verified you are all set to go.

The first thing to do is top up your credit in order to buy digital coins. You can increase the credit on your account with several very common payment methods:

• Bancontact
  
• iDeal
  
• MyBank
  
• Know
  
• GiroPay
  
• Bancontact
  
• Credit Card
  
  After depositing ordinary euros on your Bitvavo credit, you will immediately see the balance in your dashboard. With this you can immediately get started to buy coins.
  

Depositing via Bancontact, iDeal and bank transfers are free. It does cost some money to deposit money into your Bitvavo account via other payment methods.

Bancontact: free - max amount € 10,000
iDeal: free - max amount € 10,000
EPS Überweisung: 1.75% - max amount € 1000
Giropay: 1.75% - max amount € 1000
MyBank: 1.50% - max amount € 5000, -
SEPA Bank transfer: free - no max amount
SEPA Instant : free - max amount € 15,000
Sofort: 2.25% max amount € 1000

Withdrawing money from your account

Withdrawing real money from your account is easy. You must have a balance on your credit in euros. So you will first have to sell (part of) the digital currency you have in order to top up the balance on your account with euros.

You can withdraw these euros and have them deposited back into your bank account. This usually happens within 1 working day.

Buy cryptocurrency

You can buy almost 200+ types of currencies at the current purchase rate. Buying digital currency is very easy at Bitvavo. The interface is so simple that it hardly needs any explanation. 

200+ digital coins are available on Bitvavo, new coins are added daily!

Sell cryptocurrency

You can sell all types of currencies on offer at the current selling rate. You can indicate in the sales screen whether you want normal euros back or whether you want to sell the currency against another currency. The example below shows how 0.1 Ethereum (ETH) is traded against Bitcoin (BTC).

Costs / transfer fees at Bitvavo

At Bitvavo you pay 0.25% trading costs, if your trading volume does not exceed € 100,000 within 30 days. The more you trade, the less trading costs you pay, so from € 50,000 this becomes lower. 

This applies to taker costs. The maker costs are a lot lower.

Taker fee: Standard transactions that are executed immediately at the current market price.

Maker fee: Transactions that are not executed immediately, but only when the price reaches a certain point.

Bitvavo is the cheapest exchange in the Netherlands in that regard. 

You will get €10.000,- free of trading fees when you trade your first coins in the first 7 days!

Bitvavo Staking

With Bitvavo you can passively earn extra money on the purchased cryptocurrencies and tokens with the help of the Bitvavo Staking service.

With the Bitvavo Staking services, the Proof-of-Stake cryptocurrency under management at Bitvavo will be staked and the fee will be paid to your Bitvavo account.

Digital coins with which you can receive staking at Bitvavo with the percentage of staking per year are:

• Bitcoin  BTC        ~1.22%  
• Ethereum ETH ~ 1.93%    
• Cardano ADA ~ 5.00%    
• ICON  ICX        ~10.50%    
• VeChain Thor VET ~ 0.51%    
• Litecoin  LTC        ~0.79%    
• Tron TRX ~ 3.00%    
• Ripple  XRP        ~0.85%    
• NEO NEO ~ 0.94%    
• Ark ARK ~ 6.00%    
• Bitcoin Cash  BCH    ~0.89%    
• Dai DAI ~ 6.10%    
• Ontology  ONT        ~5.74%    
• Tether  USDT        ~6.10%    
• Tezos  XTZ        ~6.00%    
• USD Coin  USDC        ~6.10%    
• Waves WAVES ~ 5.50%    
  
  Bitvavo also automatically pays out the fees earned from the following cryptocurrencies: NEO (NEO) (Gas distribution), Ontology (ONG) (Ontology distribution), VeChain (VET) (VTHO distribution).

Bitvavo benefits

+ Buying Bitcoins or Altcoins easily, directly and cheaply with a customer-friendly interface. 

+ Bitvavo is a solid and safe company. An important aspect is the fact that Bitvavo has all assets of its customers separated from its activities by adding a separate foundation: Bitvavo Payments Foundation. Your money is safe here, even in the event that Bitvavo BV would be declared bankrupt. All currency transactions and the total assets under management are regulated by this foundation and not by Bitvavo BV itself. In combination with an official registration with the Dutch National Bank, it means that your money and coins are in safe hands at Bitvavo.

+ Another important advantage is that the Bitvavo credits are insured. Bitvavo provides safe and secure storage that meets the highest standards.

+ Bitvavo is neatly designed and very easy to use.

+ The Bitvavo account with wallets are very well-organized with beautiful charts and a sleek dashboard from which everyone can trade from the simple interface or the more advanced interface.

+ Bitvavo supports trading in USD stablecoins:  DAI-EUR, USDC-EUR and USDT-EUR. 

+ Low commission costs of up to 0.25% on your transaction

+ Excellent customer support in many languages

Bitvavo cons

Of course there are also some drawbacks. 

- Bitvavo does not always have all the tools for a professional day trader. They do not facilitate futures trading and the use of leverage. Bitcoin margin and futures trading is not possible on Bitvavo. If you're looking for futures contracts and leverage, you can do better with Binance, which offers an excellent futures trading platform. 

- At Bitvavo you can trade in almost 60 types of coins. That is only a small part of the many thousands that exist. So if you are looking for a special coin or something very special, chances are that you will not find it at Bitvavo.

Own wallet at Bitvavo

You have your own wallets per coin type in your account. As soon as you have bought crypto you have your own wallet in your account. With your own address. Bitvavo offers you a hosted wallet as it is called. So you do not have to separately create, find or manage a wallet somewhere else. 

You can find your wallet address by clicking on the relevant coin and then clicking [deposit] in that screen. You will then see your wallet address of that coin appear. So if you deposit coins of that type at this address, they will end up in your Bitvavo account.

The wallets are kept in-house and are therefore not accessible from the internet. This makes them safe and resistant to hackers. On the other hand, you must realize that you have your wallets, and therefore your assets, managed by someone else. Only Bitvavo has the keys to your wallet.

Account security

You can secure your account with two-factor authentication (2FA), this is not mandatory but highly recommended. Furthermore, you can rest assured that if you keep your account safe, your assets invested in credits or coins are safe. If something happens on the part of Bitvavo, such as bankruptcy, than it is insured. 

In short, trading cryptocurrency at Bitvavo is safe, as long as you keep your account safe with a difficult password and two-factor authentication.

The Bitvavo app

There is also an app available from Bitvavo so that you can also view your dashboard on your smartphone and trade in coins. Just like the laptop interface, the app is very user-friendly and is build for simplicity.

The Bitvavo app is available for iOS and Android. After installing the app and entering your credentials, you can set your phone to open the app with your fingerprint. This is a very easy and fast way to log into your account. In terms of ease of use, this is one of the best apps to trade in Bitcoins wherever you are.

Download the Android Bitvavo app via the Google Playstore here:

Bitvavo reliability

Bitvavo's reliability is very high. All your assets are insured on your account. The assets are placed under its own foundation. Bitvavo's security is also arranged down to the last detail and they are supervised by De Nederlandsche Bank (DNB). Bitvavo has an official registration with the DNB. (The Dutch Bank)

Language

Bitvavo can be used entirely in almost every European language. However, many terms and names are in English, but that is normal in the crypto world and you quickly get used to it.

Who is Bitvavo suitable for? 

Bitvavo is suitable for both the beginner and the more experienced cryptocurrency trader. Long-term investors who want to buy in large amounts can also go here. So basically for anyone who wants to trade in digital currencies simple but with many options. Bitvavo is very user-friendly, you will understand the interface very quickly.

Reviews

Bitvavo reviews are excellent. They score high on Trustpilot with a 4.5 out of 5, however this is in Dutch. Nevertheless, if (the very critical and honest) Dutch people like it, it must be good. It is.

Customer service

Bitvavo has excellent customer service. 

You can contact the support department in the following ways: 

- Live Chat: on working days: 09:00 - 17:00 - Closed on Saturday and Sunday. 
- E-mail: support@bitvavo.com 
- Contact form on the website 

There is also a very extensive section with frequently asked questions about all subjects and operations on the website. Click on your name in your dashboard and then on [support].

Website

https://bitvavo.com/en

Address / contact / location

Bitvavo BV 
Keizersgracht 281
1016 ED Amsterdam 
The Netherlands

Chamber of Commerce: 68743424 
VAT: NL857572349B01