Bitpanda is one of the world’s favorite ways to buy and sell Bitcoin. The platform is always adding support for different altcoins, and sometimes implements feature suggestions from users. Since the announcement of the Bitpanda app, this platform is more useful than ever. Nonetheless, there are a few feature updates we would like to see. Here are our six suggestions about how to make the Bitpanda app even better.
Add Limit Orders
It’s truly annoying to use a platform as clean and intuitive as Bitpanda without the tools to make sophisticated trades. Users are restricted to the market price of Bitpanda’s supported currencies. While we know that Bitpanda is meant to be simple, so as to attract new users to the platform, limit orders would add value to the platform.
Limit orders aren’t complicated. They simply allow an investor to make a trade at a specific price, automatically. By allowing limit orders, Bitpanda users could initiate trades to be completed at some future date. Without limit orders, these customers are driven to Bitpanda’s competitors.
The Bitpanda app has little in the way of charting. Even beginning investors can use charts to learn about coin price histories. Without them it’s hard to make future plans. We know mobile screens are small, but Bitpanda should find a way to fit them on their user interface.
While Bitpanda already supports 13 digital currencies, more is always better. Bitpanda already offers more cryptocurrencies than Coinbase and Gemini. Further additions would help Bitpanda stay ahead of these other exchanges. Perhaps Bitpanda could allow users to vote on new offerings, using an in-app voting system.
Crypto exchanges which accept fiat payments usually charge high fees, but Bitpanda’s 5% is a little much, even by these standards. If Bitpanda could find a way to cut fees below 4%, they’d be cheaper than some key competitors. These levels would also allow them to undercut Coinbase, in some cases.
USA Service/Non-Euro Service
Bitpanda allows users to pay in US dollars but doesn’t allow Americans to use the service. It’s perfectly Ok for a cryptocurrency exchange app to limit its scope to a single world region but there are many people looking for US-based exchanges. After all, adding coverage increases operating costs and requires significant investment. Even so, users around the world want to use the Bitpanda app, and many are not currently able to do so.
While it’s not possible to get rid of all ID data requirements, Bitpanda is a bit demanding of its customers’ personal information. A user can’t unlock basic trading functionality without providing government issued ID and other personal data. If Bitpanda is unable to remove these requirements, they should at least allow users to unlock all platform functionality with a single ID provision.
We love Bitpanda already, but we can imagine an even better Bitpanda App. Hopefully, Bitpanda is listening to user comments, so that their app will be the best it can be for their customers.