What is Bitvavo?
Founded in 2018 with the mission to bridge the gap between traditional currencies and digital assets, Bitvavo is a prominent cryptocurrency exchange based in Amsterdam, Netherlands. The platform is continually evolving under the guidance of a dynamic and development-focused team.
Platform Overview
Bitvavo stands as one of Europe's leading digital asset exchanges, specializing in EUR fiat pairs. The exchange is a proud member of the Dutch Association of Bitcoin Companies, contributing to self-regulation efforts aimed at preventing fraud and money laundering.
Regulatory Compliance
Initially registered with the Dutch Central Bank (DNB), Bitvavo has expanded its regulatory footprint and is now also registered in France and Austria. The Netherlands serves as a central hub for cryptocurrency activities in Europe.
Cryptocurrency Variety
Bitvavo provides a trading platform for over 175 different cryptocurrencies, making it a diverse and comprehensive space for crypto enthusiasts.
Trading Volume Metrics
As of the latest update in September 2022, Bitvavo reported a 24-hour trading volume of $126,640,507.80 according to Coinmarketcap, showcasing its robust presence in the market.
Availability to Investors
It's important to note that Bitvavo may not be accessible to US investors, and individuals seeking a new crypto exchange should utilize appropriate exchange filters for guidance.
Trading View and User Interface
Bitvavo offers a variety of trading views to cater to different user preferences. The platform typically includes an order book, price chart, and order history. Users are encouraged to explore the trading view to ensure a comfortable and intuitive trading experience.
Trading Fees Structure
Bitvavo operates on a maker-taker fee model. Takers, who place orders that match existing ones, are charged a fee of 0.25%, aligning with industry standards. Makers, contributing liquidity to the market, enjoy a reduced fee of 0.15%. Trading fees further decrease as trading volumes increase, potentially reaching as low as 0.04% for takers and 0.03% for makers.
Withdrawal Fee Analysis
Bitvavo imposes a withdrawal fee of 0.00005 BTC per BTC withdrawal, consistent with the industry average. As the cryptocurrency landscape evolves, the platform's withdrawal fee remains competitive, aligning with or even undercutting the emerging industry standards.
In summary, Bitvavo's comprehensive features, regulatory compliance, and competitive fee structures contribute to its standing as a significant player in the European cryptocurrency exchange landscape.
Is Bitvavo safe?
While many major CEXes boast stronger firewalls than most governments, history has witnessed numerous instances where exchanges have fallen victim to hacks, resulting in the loss of customer funds. DEXes are generally safer option as you have control over your funds at all times as long as blockchain is up and running. Its all based off contract code so you can clearly look whats behind the scenes, and how their contracts work.
Does have customer support?
Almost all exchanges provide customer support, but the quality, speed and continuity of this service varies from time to time depending on the budget conditions of the companies. We recommend that you experience the support service provided by the stock exchange by asking a question to the support section on its website.
