Review Bitvavo: good and beginner friendly exchange
The Bitvavo platform was launched in 2018, with the aim of bridging the gap between traditional currencies and digital currencies. It is a Dutch platform and ease of use so very suitable to start as a beginner. They could be the market leader in The Netherlands and Belgium. Recently they have won the Cashcow awards 2021 as Best Crypto Broker.
What to look for when choosing a good crypto broker or exchange?
In this short review I will share how Bitvavo works, what I think and what the pros and cons are.
Bitavo has 50+ crypto currencies and keeps expanding. They only have EUR pair cryptos like ETH-EUR so mostly focus on European customers. As said before newbie-friendly with some basic Buy and Sell options. They also have Stop Limit orders.
- Security and safety
- Fees (trading & withdrawal fee)
- Customer support
- High % Staking and launchpad
- Bancontact & iDeal for Dutch & Belgium users or SEPA (transfer free)
- Supported coins
Good start on crypto
You put your well-earned money, so everything needs to be safe. As Bitvavo has (slightly) higher cost on trading (0.25%), I would only recommend to use the fiat currency transfers from/to your bank account. A small trading platform has lower liquidity and difficult to trade if the crypto market is on a fast move especially on a down market. From your Euro deposit you could buy XLM-EUR and transfer (±€0.05 transfer fee) to Binance. From there you could trade (0.1%) to another coin.
If you want to keep it simple, Bitvavo is a platform you could consider as they have stake possibility on different coins. They support staking on stable coins like USDT and USDC and could generate some passive income.
Disclaimer: I am not a financial advisor and cannot give investment advice. All the information contained on this website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on this website is strictly at their own risk. Please consult your financial advisor to associate the risks involved.