Bitcoin.de explained by professional Forex trading experts the “ForexSQ” FX trading team.
Bitcoin.de
Bitcoin.de is a platform, connecting buyers and sellers of Bitcoin. The platform is more similar to eBay than to a traditional digital asset exchange.
The company, security of funds
Bitcoin.de is owned by Bitcoin Deutschland AG, which is a “tied agent” of FIDOR Bank AG. This partnership with an innovative (and perhaps more importantly, highly-regulated) bank does bring a lot of stability to the company. It is worth pointing out that FIDOR Bank is one of Germany’s first “2.0 bank”, focusing primarely on digital assets. also has partnerships with Kraken and Ripple.
As we mentioned in the beginning, Bitcoin.de is a platform which matches buyers and sellers of Bitcoin. In order to fully utilize the service offered by, one must provide the company with a bank account (preferably an EUR one, connected to the SEPA system).
Trading on the platform is not instant (for the most part), unlike the way it is with most exchanges such as Bitstamp. The order book on Bitcoin.de is essentially filled with offers by different sellers, who build up their reputation over time, much like in an online store, like the ones in online stores (eBay comes to mind). While an “express trade” option is available, it only allows real-time trading if you have a bank account with FIDOR Bank.
While this entire procedure appears to create more safety, we feel Bitcoin.de is re-inventing the wheel. That being said, the service is clearly targeting a very specific customer-base – those who are willing to invest in Bitcoin, but want to have a bank connected to the entire project. Additionally, this can be a great gateway company, into the world of cryptocurrencies.
Bitcoin.de has not been hacked yet. On top of that 98% of the coins are kept in cold storage and the company provides two-factor authentication. The community feedback on Bitcoin.de is very positive. While people recognise this is not an altocoin-focused exchange, like Bittrex or Poloniex, they do enjoy the quality of service.
Trading conditions
Trading instruments (cryptocurrencies)
Only Bitcoin (BTC or XBT) and Bitcoin Cash (BCC) are offered at Bitcoin.de. Additionally they are traded only against the EUR.
Minimum initial deposit
While we don’t have any information on the minimum deposit at Bitcoin.de, the minimum transaction size is €60. This may be a high bar for some traders, who may prefer the service of a company like IG, where you can open a forex trading or spread-betting account with as little of a deposit, as you would like. By the way, they also offer Bitcoin and Ethereum CFDs.
Leverage
It should be obvious by now, but margin trading is not available at Bitcoin.de. As we explained earlier, this is only a company which aims to connect buyers and sellers of Bitcoin. If you want to only trade cryptocurrencies speculatively, without actual ownership of the coin, the forex brokers, who offer bitcoin may be a better option for you. The two services are very different and we would advice you to read our comparison, before choosing which one is better for you.
Fees
The fees at Bitcoin.de are split evenly between the buyer and seller. They vary between 0.8% and 1%, depending on your method of payment (i.e. bank account type and type of transaction). While they are a bit higher than the average fee of about 0.20-0.25% at other exchanges, its worth pointing out some companies charge more if a bank or credit card transfer is involved. As mentioned previously, this is a service for those who are willing to buy the actual Bitcoin, where as purely speculative traders may prefer other options. Forex brokers, for instance put all of their fees in the sperad of Bittcoin CFDs.
Trading platform
The trading platform at Bicoin.de is web-based and very simple. This is not surprising, considering the fact it’s more of a listing service than a true speculative trading platform, like MetaTrader4 (MT4), for instance.As you can see there are a few spikes marking transactions at prices differing substantially from the current market. While we are not certain, this may be due to a transaction registering as completed (hence affecting a chart) hours after the market has already moved (as most trades are not instant and require a confirmation).
The unusual aspect about this book, is the fact, there are seller/buyer ratings, represented in the small symbols in the additional info column.
Methods of payment
One can start trading at Bitcoin.de after linking a bank account with the comopany. There are a lot of benefits, like real-time trading, if the account is opened with FIDOR Bank. Alternatively, you can transfer your BTC or BCC to the exchange, but you will still need to provide a bank account in order to withdraw your funds.
Bitcoin.de Conclusion
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