Read this article in German, French, Italian, Turkish, Polish and Spanish.
At Bitpanda, we are on a mission to tear down the barriers to investing and to bring traditional financial products into the 21st century. This means we have set out to scrap the public feeling that investing is only for the rich and knowledgeable.
The Bitpanda platform offers everything you need, you can start investing in digital assets starting from just €1. To get the most out of Bitpanda, make sure you hold BEST to receive 25% off trading fees and more!
To make investing on Bitpanda even more accessible and engaging for everyone, effective immediately, all holders of BEST, the Bitpanda Ecosystem Token, will benefit from special features.
Update: Our users are guaranteed a minimum value of €0.12 when using BEST to pay for trading fees. To make things easier for you, we added a new feature to show you how much you actually save on trading fees as a percentage when you use BEST. Still confused? Don’t worry, we’ll break it down for you now.
So we all know BEST can be used to pay for trading fees. You get 25% off, plus you have a minimum value of €0.12 on trading fees. So when you have BEST worth €0.06, you’re getting 50% off. With our new update it shows you the total amount you save, in this case, 64%.
Here’s how much you save when you use BEST to pay for trading fees:
Let’s say you want to buy some BTC. Bitcoin has low fees of 1.49% (for buying) and 1.29% (for selling). In this example, we want to buy BTC for €100, meaning you pay €1.49 in trading fees if you are not using BEST (deducted from the total amount of BTC you get).
Now imagine you buy some BEST at a value lower than €0.12 (the guaranteed minimum value for trading fees), let’s be specific and say for example, a price of €0.06. You now buy BTC again for €100 but pay your fees using your BEST. This means you now don’t pay the regular €1.49, but instead get 25% off, meaning you pay around €1.2.
In addition, you bought the BEST for half the price we guarantee you (€0.12, the guaranteed minimum value for BEST used to pay trading fees). This means you get another 50% off and you basically just paid €0.56 in trading fees for €100 worth of BTC.
This is what you have to do to get 25% off trading fees:
Step 1: get some BEST
First things first: you need to make sure that you hold BEST on your BEST wallet on the Bitpanda platform or on Bitpanda Pro and then activate the feature, depending on where you want to get the discount.
You can buy BEST on the Bitpanda platform or on Bitpanda Pro. You can also swap any supported cryptocurrency, stablecoin and even digitised gold, silver, palladium and platinum to BEST and take advantage of the best of both worlds.
Step 2: activate paying your trading fees with BEST
On the Bitpanda platform: simply go to your account settings and toggle the slider next to “Pay trading fees with BEST”. Alternatively, you can also activate the feature during the buying process for every digital asset on the platform and it will stay activated.
On the Bitpanda Pro: go to your account settings and toggle the slider next to “Pay trading fees with BEST”. Once activated, you will see the new, reduced maker fee and taker fee.
Step 3: start getting a 25% discount on trading fees
Get 25% off trading fees for every digital asset, including Bitcoin, Ether, digitised gold, silver and more after activating the feature.