You’ve come to the page because you want to know Bitvavo is a good partner to join. In our Bitvavo Review you can read all our findings and experiences. Bitvavo is one of the fastest growing crypto exchanges in the Netherlands. Not surprisingly, because through this platform you are able to buy and sell digital currencies, such as Bitcoin, super simple.
To help you choose a suitable platform we will look specifically at Bitvavo in this review. Through this article we hope to give you answers to the following questions:
- How does Bitvavo work and what are the experiences?
- How to create an account on Bitvavo?
- How to deposit and withdraw money on Bitvavo?
- How to buy and sell crypto?
Exclusive Bitvavo welcome bonus: trade up to 1000 EUR with 0% commission
What is Bitvavo?
Bitvavo is a Dutch cryptocurrency exchange. The company was founded in 2018 as a crypto broker, a site where you can buy and sell digital currencies. Due to the great ease of use with which one can buy and sell crypto´s on the platform, the site has developed at lightning speed into the cryptocurrency exchange it is today.
Bitvavo is the cheapest exchange in the Netherlands and is fast becoming the market leader in Europe.
Create an account on Bitvavo
If you want to buy and sell cryptos on this exchange, you will need an account to do so. Creating an account is completely free. Browse to Bitvavo’s website and click on the “Sign Up” button on the top right. Enter your real details, because as a part of the signup process, your identity will be verified. The identification is completely automatic. You take a picture of your ID and a selfie video in which you have to name a few numbers. That´s it.
Creating an account is free and 100% secure
How Bitvavo works?
To give you an impression of how Bitvavo works, we will discuss several important features of the platform in this review. We won’t go into too much detail, but we will give you an overall impression of how it all works so you can get started quickly.
Alternatively, you can watch the video below on how Bitvavo works. It will explain step by step how Bitvavo works.
Depositing Euros on Bitvavo
You can add money to your Bitvavo account very easily. Once logged in to the dashboard, click the “Add money” button. In the screen that follows you can enter the amount. Then you can choose from a variety of payment methods. You can add money to Bitvavo in the following ways:
- A bank transfer
- EPS transfer
What is important is that you add the money from a bank account that is in your own name.
Sending crypto coins from a wallet to the Bitvavo wallet
If you already have coins, for example Bitcoin or another altcoin, then of course you can also add them to your Bitvavo Wallet. To send this digital currency to Bitvavo, take the following steps:
- On the dashboard, click on the currency you want to add.
- At the top, click on the ‘Deposit’ button.
- Tick that you have read the notification about depositing currency and click ‘Continue’.
- You will now see the address of the Wallet where you can send the coins. Depending on the speed of the network, it may take a few minutes to hours before the cryptos are credited to Bitvavo.
Placing a buy order
When you have enough credit, you can buy your first crypto coins. Buying digital currency is actually super easy on Bitvavo. On the dashboard you can select the currency you want to buy. You can manually scroll through the whole list or you can use the search bar at the top. Click the currency and the next screen will look like this:
You can choose which currency you want to pay the buy with. You can choose to pay with euros, but also any other currency Bitvavo offers. You can buy the new crypto currency directly with the balance in your wallet. One big advantage is that at Bitvavo you can buy bitcoin with iDeal.
You will immediately see Bitvavo’s trading costs in the picture, as well as the spread. The spread is the difference between the best bid price and the lowest ask price at that moment. Once you press “buy” you will have to confirm the purchase in the next screen.
Below this screen you can see the current price of Bitcoin and the historical price development. You can enter the number of euros you want to invest and see how much bitcoin you will get in return. It is a myth that you can only buy whole bitcoins. If you only want to buy 50 euro bitcoins, you can do that too.
Placing a sell order
Want to sell your digital currency again? Bitvavo’s platform works quickly and efficiently. On the dashboard, click the currency in question and click ‘Sell’. Enter the amount and choose what you want to receive in return. You can receive Euros back, but also any other digital currency Bitvavo offers.
Again, you will see very clearly what transaction fees apply. Press the “Sell” button to finalize the transaction. You can choose to have your funds paid out by Bitvavo.
You can choose which currency you want to pay the buy with. You can choose to pay with euros, but also any other currency Bitvavo offers. You can buy the new crypto currency directly with the balance in your wallet. A big advantage, at Bitvavo you can buy bitcoin with iDeal.
You will immediately see the trading costs of Bitvavo, as well as the spread. The spread is the difference between the best bid price and the lowest ask price at that moment. Once you press “buy” you will have to confirm the purchase in the next screen.
Bitvavo – Paying out / withdrawing money
As easy as it is to buy crypto at Bitvavo, it is also very easy to exchange crypto for euro and deposit it back into your account. If this wouldn’t work, the money would be stuck on the exchange and you wouldn’t have any use for it.
For many foreign crypto exchanges it is difficult to transfer money back to your account. Binance used to offer this function but nowadays it is not possible anymore. So if you want to deposit money back from Binance, it is best to first send your crypto back to your wallet on Bitvavo and then deposit it back to your account.
If you are logged in to your Bitvavo account then you will see directly on the screen; Withdraw credit. If you click on it, you can enter the amount there and have it refunded to your account. It will take on average between 1 and 2 working days before the money is back in your account.
Is Bitvavo reliable?
An important point, because you do want your currency to be secure. An important part of the security you do yourself, of course. Choose a good password and secure your account with two-factor authentication.
Based on all the information we have and all the independent reviews we think Bitvavo is reliable. It is a Dutch exchange and is also located in the Netherlands.
Bitvavo itself has also taken various security measures. In any case, the assets are included in a separate foundation that is separated from the company itself. If the company gets into trouble, the assets are safe.
The majority of the digital currency is stored in ‘Cold Wallets’. These are wallets that are managed offline on devices that are not connected to the Internet and are kept in a physically well-protected location.
So you can trust Bitvavo to do what it takes to ensure a secure platform.
account aanmaken is gratis en 100% veilig
Using the Bitvavo App
Bitvavo has its own app for iOS and Android that lets you do the most common things; you can buy and sell crypto currencies, view the prices live, and set price triggers so you get a notification on your smartphone when the currency hits a certain value.
The app works intuitively and quickly. You can use the app to buy and sell digital currency anytime, anywhere via Bitvavo. Unfortunately, the app does not include all the advanced trading features that are available on the website.
What are the pros and cons of Bitvavo
In this review, we’ve looked at the pros and cons of Bitvavo.
The benefits of Bitvavo:
- Bitvavo has very low fees, up to 0.25%.
- At Bitvavo you can buy Bitcoin with iDeal.
- A strike interest rate of up to 10.5%.
- The wallets are insured up to $255 million.
- Customer funds are held in a separate foundation.
- Bitvavo has applied very extensive security. You can read more about it at https://bitvavo.com/nl/security.
The disadvantages of Bitvavo:
- No telephone customer support.
- No advanced trading in the app.
- No futures trading or leverage.
As mentioned earlier in the article, Bitvavo is based in The Netherlands and has Dutch roots. Bitvavo is registered with the Chamber of Commerce and if you want to contact them, you can do so using the details below.
- Bitvavo BV
- Herengracht 450
- 1017CA, Amsterdam
It is an advantage that you can do all communication in English. Also, you can be sure that they are not a scam exchange. All their data is known and that is often not the case with scam websites. The only downside is that they have not provided a phone number so all communication has to go through email.
Bitvavo Review and Experiences
We have been using Bitvavo ourselves for quite some time. We see that they keep developing the platform. They really put the customer first by charging very low fees. Bitvavo is constantly growing, both in the Netherlands and in Europe. They therefore have a much larger volume, especially compared to other Dutch crypto brokers.
The experience we have with Bitvavo is very positive and we expect this company to become even very big in the rest of Europe.
Of course we can be postive about Bitvavo but let’s take a look at what one of the largest review websites in the Netherlands says about this; Trustpilot. On Trustpilot there are already more than 9,000 reviews about Bitvavo and by far the majority are very positive.
Below are some reviews that can be found on Trustpilot about Bitvavo