Bitvavo is a centralized exchange launched in March 2019 in Amsterdam.
Bitvavo was founded as a cryptocurrency broker in May 2017 and began operations in January 2018, and moved from broker to exchange on March 8, 2019. Bitvavo is a member of the Dutch Association of Crypto Companies, a self-regulatory body for the purpose of preventing fraud and money laundering.
It is a Dutch company based in Amsterdam, with more than 100,000 customers in Europe. They have conquered the Dutch market and are growing fast in the rest of Europe. Mostly because of the convenient platform and low trading fees. Another plus of the exchanges is support. The team is available from 09:00 to 17:00 on weekdays and 10am-6pm on Saturday. Support is very responsive and available in English and Dutch.
Bitvavo is not only aimed at experienced traders but also beginners, offering a simple buying and selling system and a user-friendly website. The big advantage of Bitvavo is that it is extremely cheap. So you pay lower trading fees for buying and selling than other brokers.
The Bitvavo website looks very professional. The setting is very minimalistic, making it very easy to navigate and find useful information. This provides a user-friendly website design.
Bitvavo's goal is to make cryptocurrency accessible to everyone.
The uniqueness of the exchange is that they are aimed at both beginners and experienced crypto traders. A convenient shopping system was developed for novice traders, and an expanded exchange with several types of orders was developed for experienced traders.
Bitvavo provides free embedded wallets for every supported cryptocurrency. When buying cryptocurrency, you do not need to install a third-party wallet. This way you will be able to see a clear view of your portfolio on the Bitvavo toolbar.
You can buy, sell, store, withdraw and trade more than 58 cryptocurrencies, and the offer is updated regularly. You can choose from larger coins such as Ethereum and Bitcoin, as well as from smaller projects such as Chainlink or VeChain, and the offer is updated regularly
They have separate pages for each coin where you can check prices and keep up to date with the latest news.
You can sell your cryptocurrency using the same page where you bought it. Bitvavo will convert your cryptocurrency back to fiat and credit this amount to your account.
Whenever your cryptocurrency converts to fiat, you can choose to pay by bank transfer or invest it in another cryptocurrency. Bitvavo will transfer money to your bank account during the day. In most cases, payments occur on the same day (during working hours).
The exchange usually uses an order book and matches buyers and sellers. The exchange platform integrates perfectly with your bank account, so you can quickly withdraw and deposit funds.
If you are new to Bitvavo, you need to confirm your account from May 2020. Under European laws and regulations, parties using cryptocurrency must know exactly who they do business with. This is a sign that the cryptocurrency market is becoming more mature, like stockbrokers, for example.
You will also be rewarded if you trade more on the exchange. The more you trade, the greater the reward will be. This is based on your 30-day volume and will be calculated every 24 hours. Some payment methods are free, while others require funds to be deposited into your account. Withdrawals are always free.
The Bitvavo app is available for Android and iOS users. Reviews about the Bitvavo app are positive and allow you to trade anywhere and whenever you want. Thanks to a convenient interface, you can easily trade, deposit and withdraw funds.
Bitvavo is one of the cheapest brokers in Europe. Bitvavo's fee never exceeds 0.25% per transaction. If you compare that to Bitladon, for example, the average fee could be about 1.75%. The advantage is that these low fees apply to small and large transactions.
Bitvavo has several security measures on the site such as various verification methods, IP whitelist, 2FA, advanced monitoring, special bank vaults and certified processing centers data.
In addition, they are officially registered with the Central Bank of the Netherlands (DNB), with purses insured for up to $255 million.
Bitvavo ensures the security of all customer funds. If Bitvavo B.V. goes bankrupt, the client's funds will remain in the Bitvavo Payments Foundation.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.