Review and setup of Bitcoin Wallet Using BitPanda Exchange

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Bitcoin.com features a selection of bitcoin exchanges where you can buy and sell bitcoins (this page must be making a fortune in affiliate marketing fees). Bitcoin.com currently feautures Bitpanda. BitPanda used to be called Coinimal has recently rebranded itself as BITPANDA.

*HINT* Click the UK flag in the top right or you will have to buy your bitcoins in German.

bitpanda-home
bitpanda-home – *HINT – click the English Flag at the top

Clicking on get started takes me to a registration page. So far so good, who knew buying bitcoins could be so simple, nice interface, easy to navigate. The next step was to confirm my Email and choose a password.

Following this I was directed to the dashboard. Here I could see my balance, wallet, history and other options. At this point it feels very much like Paypal.

bitpanda-post-login

My first instinct now is to buy, I am shown current bitcoin prices and trends. There is also an option to buy Etherium but one thing at a time.

bitpanda-buy

After clicking buy I learn the Minimum spend – 25 euros (£21) which buys a few thousand satoshis  (100,000,000 Satoshi = 1Bitcoin). I clicked buy again and was taken to the verification screen.

Verification

Verification was a 3 step comprehensive process and an unusual one if you have trust issues. The first step (Verification bronze) involves a two step phone verification process. I entered my phone number and then was sent a code which I entered to confirm.

The next (Verification Silver) Involved entering personal and address details.

bitpanda-verify

The third step of verification (verification gold) was a bit more complex and required nerves of steel. This step requires a live web chat with a home agent where I was required to show my passport and water bill. As a savvy internet user this immediately rang alarm bells, as a technical blogger I was forced to proceed.

bitpanda-verify3

The situation got more concerning by the minute. For some reason the verification suddenly turned German. I was forced to proceed through a series of confirmation screens where my only clue was knowing that “fortsetzen” means continue in German (hint – right button is always continue, left button is always go back). Through continuous pressing of the right button I was connected to an agent.

bitpanda-verify4

The agent was German but spoke perfect English, he guided me through showing off my private documents. I had to hold up my ID and letter to the screen while he recorded me, confirming my details. The whole time I was assessing this man for signs of fraud but it was all very professional.

After the call I hit refresh on my screen and the account was verified. Feeling very proud for trusting a strange man on the internet.

I accessed my wallet and clicked on “buy” for the value of 25 euros worth of bitcoin. bitpanda-buy25

The payment system was very standard, the exception being that the main payment details form was again in German. Fortunately German has some logic to it and I was able to fill in my details. (long number in long box, security number in small box, hit the right button to continue).

Then success! I have bought bitcoin and am now the proud owner of a Bitpanda account, a bitcoin wallet and 0.044 BTC.

bitpanda-buysuccess

Conclusion

I talked to strangers, took part in a recorded show of my passport and personal details, filled out a form in German and now own 0.044 of a Bitcoin. It was not easy but now it is done I feel confident to become a regular bitcoin buyer and seller. Looking forward to making my first bitcoin purchase.

Robert Morel is a Software Developer and Freelance WordPress Developer at Amarria and a blogger for B.I.S.S. Research. Contact me at robert.morel@bissresearch.com