Support for the ERC20 token standard used by tokens running on the Ethereum blockchain coming to Bitpanda in July.
We are very pleased to announce that our engineers laid the groundwork for adding a lot more cryptocurrencies in the future and therefore be able to offer you more flexibility than ever.
Edit: Note that ERC20 support means that Bitpanda will add specific tokens using this standard. Please do not send tokens, which are not officially supported by Bitpanda via a full wallet (deposit and withdraw). If you do so, these tokens will be lost and are not refundable.
What ERC20 support means for Bitpanda users
ERC20 support on Bitpanda means that we will be able to quickly integrate tokens running on the Ethereum blockchain. The range of tokens supporting this standard is very wide and includes some of the most interesting projects in the crypto space.
This is an important step for us, as our goal is to strengthen the industry by offering direct buy and sell options for as many cryptocurrencies as possible, including tokens based on the ERC20 technical standard.
As soon as ERC20 support is implemented, we will start adding Ethereum based tokens. The first batch of ERC20 tokens coming to Bitpanda will include 0x (ZRX), Augur (REP) and OmiseGo (OMG).
What is ERC20?
ERC20 is a standard which tokens running on the Ethereum platform must follow. It is basically a smart contract with a predefined set of rules, which have to be met in order to successfully run on Ethereum’s blockchain.
Most tokens issued by ICOs were and still are ERC20 based. Some of the most popular tokens listed on coinmarketcap.com are based on this token standard (you can see them here).
Komodo (KMD) full wallet integration
Recently we also announced that our engineers successfully integrated full wallet support for Komodo (KMD). This means that the trade only option (buy and sell) has been changed to a fully functional wallet, which additionally includes the options to deposit and withdraw from or to any other wallet supporting KMD. And you can of course send KMD to any other Bitpanda user or email address for free and instant.
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At Bitpanda our goal is to offer our users not only a feature rich experience, but also a wide selection of the most popular cryptocurrencies on the market.
Kind regards from Vienna,