- According to a new survey by KPMG in Germanic countries, all 2400 participants were found to have over a quarter of their portfolios in cryptocurrencies.
- Bison is the largest traditional stock exchange-backed crypto exchange in Germany, followed by BSDEX.
- Bitcoin.de is the oldest crypto exchange in Germany
Germany, a powerhouse in the European economy, has also emerged as a significant player in the cryptocurrency market. The country is a relatively conservative financial market looking to diversify into the crypto arena.
Several banks in the country have shown interest in offering crypto to their customers, indicating that the German market is ripe for centralized crypto exchanges.
A recent survey done on digital investing in Germanic countries found all 2400 participants had over a quarter of their portfolio in cryptocurrencies. With such a high number from a survey sample, it is sufficient to conclude that the interest in crypto investments among German investors is high.
Here are the top crypto exchanges in Germany, where investors and traders can begin their journey into the crypto world.
1. Bitpanda
Bitpanda is a Vienna-based exchange that caters to both beginners and experienced traders. It offers a user-friendly interface and supports a wide range of cryptocurrencies. Bitpanda was founded in 2014 and has over 700 team members.
With over 4 million users, Bitpanda is one of the most successful crypto exchanges in Europe.
Features
- Instant Buy/Sell: Bitpanda allows users to purchase cryptocurrencies instantly using fiat currency (EUR).
- Security: The platform employs robust security measures, including two-factor authentication (2FA) and cold storage for funds.
- Variety of Coins: Bitpanda supports Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and other major coins.
- Savings Plan: Users can set up recurring purchases through a savings plan.
Pros
- Easy-to-use interface.
- Strong security.
- A variety of supported coins.
Cons
- Limited trading options for advanced users.
2. Bison
Bison is a mobile app designed for crypto trading. The platform is powered by Börse Stuttgart Group, the sixth-largest exchange group in Europe. Bison is unique since the company behind it is a traditional stock exchange.
With the Bison app, you do not need a wallet, or even to deposit. All you need is a Bison account and you are good to go.
Bison app registration is free and fast with a video-based KYC procedure.
Features
- Simplicity: Bison aims to simplify crypto trading for beginners by offering an intuitive app.
- Zero Fees: The platform charges no trading fees, making it attractive for cost-conscious users.
- Real-Time Trading: Bison provides real-time price data and allows instant trading.
Pros
- User-friendly.
- No fees.
- Real-time trading.
Cons
- Limited coin selection compared to other exchanges.
3. Kraken
Although not exclusively German, Kraken is a well-established exchange with a strong presence in the country.
Kraken is already very popular in the crypto community as opposed to Bison and Bitpanda. With over 1.5 million followers on Twitter, Kraken
Features
- Advanced Trading: Kraken caters to professional traders with features like margin trading and futures contracts.
- Security: The exchange prioritizes security, including cold storage and regular audits.
- Wide Coin Selection: Kraken supports a vast array of cryptocurrencies.
Pros
- Advanced trading options.
- High liquidity.
- Robust security.
Cons
- May be overwhelming for beginners.
4. Bitcoin.de
Bitcoin.de is one of the oldest crypto exchanges in Germany. In terms of users, it comes in second to Bitpanda, with 1,050,000 customers. Bitcoin.de brags to be the only Bitcoin marketplace worldwide trading with audited Bitcoin customer portfolios by a publically accredited auditing company.
Regular security audits guarantee the safety of customer funds. Unlike other crypto exchanges, 98% of Bitcoin on customers’ portfolios is ‘offline’.
Features
- Peer-to-Peer Trading: Bitcoin.de facilitates direct trades between users.
- Escrow Service: The platform uses an escrow system to ensure secure transactions.
- German Regulation: Complies with German financial regulations.
Pros
- Trusted reputation.
- Peer-to-peer trading is available.
- It is regulatory compliant.
Cons
- Limited coin variety.
5. BSDEX
BSDEX (Börse Stuttgart Digital Exchange) is another crypto exchange offering from Börse Stuttgart. The stock exchange giant has taken a lead in Germany on matters of cryptocurrencies, capitalizing on its advantage of being a native company.
BSDEX has launched its BSDEX academy which will be instrumental in educating Germans about crypto and blockchain.
Features
- Regulated: BSDEX operates under German financial regulations.
- Liquidity: The exchange benefits from Börse Stuttgart’s liquidity.
- Security: Strong security protocols.
Pros
- Regulated by German financial laws.
- Reliable, and backed by a traditional stock exchange.
Cons
- Limited coin selection.
There are other crypto exchanges in Germany, however, they are not native to the country. Most of them are based in other nations like the United States with branches in Germany. These include Coinbase, Binance, Etoro, and Bitstamp among others.
Final Thought
The crypto landscape is evolving and the speed of adoption is increasing these exchanges will continue to adapt and improve their services.
Whether you’re a beginner or an experienced trader, consider user-friendliness, security, or advanced features when choosing the right platform for your crypto journey in Germany.