Bitcoin.de Exchange Review

Bitcoin.de Exchange Review
10 Total Score
  • Fully backed by FIDOR Bank AG
  • You can use the offline wallet storage
  • Excellent market rates
  • Low fees involved in transactions
  • eBay style rating system for users
  • Highly secure
  • Regular audits are made public
  • Mobile and Desktop website interfaces
  • Great customer service and FAQ support
  • Ingenious system for trading Bitcoins
  • No need to fund your account before a deal is confirmed
  • Chance to buy crypto below market rates

Bitcoin.de Cryptocurrency Review

Trust Score: 10/10

This is almost like an eBay style cryptocurrency exchange. As there are so many digital currency exchanges out there, Bitcoin.de decided that they should come up with something different to diversify the same old exchange tools and features you would get with your average (DCE).

It is the largest Bitcoin marketplace in Europe. At this time, Bitcoin.de is surpassing the 1 million customer mark and will continue to grow. It is also one of the only Bitcoin marketplaces that trade with audited portfolios that are made public. Furthermore, the majority of portfolios are stored offline.

You can also use Bitcoin.de as a wallet if you wish or you will need to use a Bitcoin client to manage your bitcoin wallet. The best option if you are dealing with bitcoin.de is to use the site as your Bitcoin wallet as it is one of the safest sites to store your Bitcoins in the world, and as mentioned wallets storage is offline.

Ownership of the company comes under the hood of Bitcoin Deutschland AG. The company is tied in with the well-known FIDOR Bank AG, which when you consider the restriction set in the financial industry in Germany, you can bet your bottom dollar that this is a 100% legit exchange and its connection with FIDOR and that the company is highly regulated makes Bitcoin.de a highly stable DCE.

The idea of the platform is to connect buyers and sellers. All you need is a bank account that is connected to the SEPA system, and if it is in Euros, then even better!

There is also a wealth of information on the site, so you can stay up to date with the latest news and trends within the crypto marketplace. This gives members full trust with the ability to find out all the information they want to know about the exchange as well as how it operates.

Even though margin trading is not a feature as the site is mainly for buying and selling, as far as exchanges go, this is the most trustworthy we have come across in all our reviews.

Website main menu:

  • Marketplace
  • News
  • Forum
  • FAQ
  • Contact
  • Investor relations

 

Mobile Apps

Bitcoin.de’s website has been designed to work on all browsers on all devices. When you visit the website from your mobile device, you will be given the option to choose between two layouts which are the ‘Mobile or Desktop’ version.

The desktop version then adapts its code to your mobile browser. From here you can see real-time market prices, customise settings, and log into your account. All in all, it is fully functional as both a desktop and mobile website on the front end as well as the back end where you will be logging into your user account.

There have been no mobile apps developed for the Bitcoin.de site for trading/buying/selling, but you can download a free iOS or Android app on the Google Play or Apple store that gives you currency market prices from the bitcoin.de site. The app has been designed by Dieter Hofmann, and it works in real time. Check it out as the app has a mixture of reviews.

To be honest, as there is no margin trading, having an app for this website would seem a little overkill because you will not be able to trade in real time.

  • Choose desktop or mobile website
  • Access from your mobile browser
  • Fully functional from any mobile browser
  • Third party market data mobile app available

 

Coins Offered

As the name implies, Bitcoin.de deals in Bitcoins (BTC). There are also a few other markets that you can deal with on this marketplace.

Even though USD can be displayed, all Bitcoins on Bitcoin.de are currently traded in Euros only.

 

Trading/Buying/Selling

This is not a website for those looking to margin trade; especially if you are looking to make quick margin trades. All that Bitcoin.de wants to do is provide a platform where buyers and sellers can trade between each other.

There is a slight downside because mostly the trades or buying/selling are not instantly transacted. However, when you look at the trust rating for Bitcoin.de a little delay in transaction time is a small price to pay when you have high a guarantee of high stability.

Delays come from the buyer for the most part, but sellers can also slow the process down. Both parties involved in the transaction need to accept the transaction for it to go through.

 

All members have an order book. Inside there are offers to buy certain cryptocurrencies from sellers. Most of these sellers have taken a long time to build up a solid reputation, which is like an eBay trading platform whereby ratings go a long way when buyers want to confirm your credibility.

  • Buying and Selling Offers

To sell Bitcoins you can make an offer. You just use the sell column on the right-hand side and make an offer to sell your Bitcoin and enter the minimum price. On the other hand, you can use the offers on the left-hand side to buy Bitcoin.

Once both parties have accepted the deal, then Bitcoin.de will send the necessary bank account information of the seller to the buyer to transfer the funds to the seller. There is no need to transfer funds in advance, the monetary transaction will occur after acceptance from both parties has been made.

  • No margin trading
  • Trades made between buyer and seller
  • Highly secure and trusted trading
  • Orderbook contains offers

 

User Trust Levels

Each account on Bitcoin.de comes with a trust level. This is a rating given by other users much like you get on eBay. Traders can reach a higher trust level by making more trades that the buyer rates highly. If a trader receives a negative review, this will be offset against positive reviews for the overall trust rating of the trader.

 

Trading Platform

On Bitcoin.de everything is web-based. Really as you would expect with any exchange (even bad ones), the market data is displayed in real time.

It is perhaps one of the easiest trading platforms to use bearing in mind that this is not for margin trading. In essence, Bitcoin.de is a listing service as opposed to a true speculative platform used for real-time margin trades.

Here is a screenshot directly from their website:

 

If you hover each section where you can see the spikes you will be given further information about the currency/market that you are viewing.

Here you can see Open, High, Low and Close.

 

You may notice that in the charts above the prices are displayed in Euros, but you also have the option to change this to also display in US$.

  • Very simple trading platform
  • Easy to buy and sell
  • Excellent market data graphs
  • de is more of a listing service

 

Funding your Bitcoin.de Account

To buy Bitcoins, you will need to use a payment method that is compatible with SEPA. (Single Euro Payments Area).

For depositing Bitcoins, you will need to request an address from Bitcoin.de. You can then make deposits using your own Bitcoin address.

If you want real-time trading on Bitcoin.de, then you will need to link up a bank account to connect with FIDOR bank. This does cause some delay as you need to apply for an account and the process can take a while, but once again, the additional time for the added safety of your transactions is a small price to pay.

Once you are up and running, you will not regret it. You should note that the minimum transaction is €60. This is quite low considering, but some traders that are looking to trade small amounts just to get a feel for the cryptocurrency marketplace may be put off by this.

  • Minimum trade is €60
  • Real-time trading available with FIDOR bank
  • Added security and safety

 

Countries Supported

There are no listed restrictions on the website for any countries. As we always deal with this site from trusted locations such as the UK, Canada, EU, and the USA, we have never had any issues. That is not to say that other countries may have problems getting an account. However, as the site is there for the purpose of buying and selling cryptocurrency by connecting buyer and seller, we do not see where country restrictions would apply.

Languages on the website include, which means selecting the correct flag in the top right-hand corner of the website:

  • German
  • English
  • Spanish
  • Italian
  • French

For more languages, press the EU flag and you will be presented with a Google Select Language bar – other languages offered include:

  • Danish
  • Dutch
  • Norwegian
  • Swedish
  • Greek
  • Many more…

 

Fees

Fees are shared between the buyer and the seller on Bitcoin.de. The buyer will transfer the fee to the seller plus half the fee. The seller will be credited with the amount of the transfer minus half the fee.

  • 8% fees for express trading
  • 0% fees if the trade is made via SEPA-transfer
  • Withdrawal fees vary according to Bitcoin fees
  • Withdrawal fees average around 0.00165062

 

Customer Support

German managed companies are always run like clockwork. In fact, the Germans have always had a reputation for efficiency and this is why every section of this review is most likely impressing you the more you read. As a result, customer service is also another finely tuned area of the bitcoin.de offering.

  • FAQ should be your first port of call

There is an extensive Frequently Asked Section that will answer most of your questions should you have any. This can be found instantly on the top bar menu of the desktop site and in the drop-down menu for the mobile version of the website. If you need to get in contact with bitcoin.de, then head over to the FAQ section titled: “Service” and click on ‘Who can I contact if I have any questions?’ for more information.

  • Contacting Customer Support

To reach out to the customer support team you will need to click on the “Support” button, which is located in the top left-hand corner of the screen. You can also choose the “Contact” option from the main menu to send a query via the contact form.

 

Safety

Undoubtedly this is one of the safest Bitcoin marketplaces to trade. 98% of all customer portfolios are in offline storage, so there is very little chance of hackers ever penetrating the system. The company also releases regular audits that are publicly available. Many of the audits are performed by trusted and highly reputable third-party experts.

All the servers are stored in highly secure data centres dotted around Germany for disaster recovery purposes with a team of risk managers always making sure that there is a 0% chance of any data being corrupted or lost.

Then the biggest advantage is that all your funds are stored in your bank account. That means you will always be covered for fraud by statutory deposit insurance.

On the contrary, other exchanges will store your funds within their exchange, which is why with some exchanges we hear of hackers penetrating the systems and stealing large sums of Bitcoin.

This also means there is a high risk of losing all your investments if the exchange becomes insolvent. Bitcoin.de have revolutionised the way their trading system works so there is literally a 0% chance of losing your investments via hacking or bad management.

To top all of this off, there are highly encrypted connections using financial grade security encryption for connections, email, trades, transmission, and a lot more. There has been no expense spared when it comes to the safety of the bitcoin.de marketplace.

  • 97% of portfolios stored offline
  • Data centres around Germany for redundancy
  • High encryption on all areas of the site
  • Protected by statutory deposit insurance

 

Why Choose Bitcoin.de?

Primarily most people choose Bitcoin.de because it is the most trustworthy Bitcoin marketplace online. Security is top notch; the company is fully backed by FIDOR Bank AG and your transactions are always protected.

One of the thrills of using Bitcoin.de is that it has the eBay style trading system along with user ratings. You can check the user rating you are dealing with to make sure that the person you are dealing with is going to follow through with the agreed price.

You also get the flexibility to set your own prices. This means if you want to offload a lot of cryptocurrencies quickly and you don’t mind selling for below the market rate, then this is always an option for you. On top of this, as a buyer, you can seek out some amazing deals whereby sellers are offering to offload bitcoins and a lower rate than the current market price.

Finally, the ease of use of buying and selling is a major factor. Although we have mentioned dealing with fiat currencies when selling crypto on Bitcoin.de can be a little complicated because you need to deal in Euro and have a SEPA. (Single Euro Payments Area), once you have the financial requirements needed to trade in place, buying and selling crypto could not be easier.

It is also quite enjoyable when you are scouting the marketplace for deals that could see you buy Bitcoin at a low rate, transfer them to another exchange with real-time margin trading and make a quick profit.

Overall, we highly recommend giving Bitcoin.de a try if you do get the chance

 

Pros and Cons of Bitcoin.de

There are few cons at all. In fact, this is one sire is nearly all pros, but of course, no exchange or digital currency trading platform is perfect.

Here is a list of pros and cons:




10 Total Score

PROS
  • Fully backed by FIDOR Bank AG
  • You can use the offline wallet storage
  • Excellent market rates
  • Low fees involved in transactions
  • eBay style rating system for users
  • Highly secure
  • Regular audits are made public
  • Mobile and Desktop website interfaces
  • Great customer service and FAQ support
  • Ingenious system for trading Bitcoins
  • No need to fund your account before a deal is confirmed
  • Chance to buy crypto below market rates
CONS
  • Trades can be quite slow
  • A little complicated to understand to begin with
  • Dealing in fiat currency from your bank account is confusing
  • No margin trading
  • Limited to just Bitcoin and Ethereum
  • Only Euro currencies can be used
  • Can take time to build up a trustworthy user rating
Add your review  |  Read reviews and comments

We will be happy to hear your thoughts

Leave a reply

Register New Account
Reset Password