Bitpanda Card

Bitpanda Card Visa Debit Review: Fees, Rewards & Availability

Basic Information

The Bitpanda Card is a Visa debit card that connects directly to users' Bitpanda investment accounts, enabling them to spend various assets in everyday transactions. Originally launched in 2021, the card was relaunched with a new version that became available for activation on April 1, 2025, bridging the gap between crypto investments and real-world spending.

The card operates as a standard Visa debit product with contactless capability, chip and PIN security, and digital wallet integration. What distinguishes it technically is the backend infrastructure that enables real-time asset conversion without pre-loading a separate card balance.

Rewards and Benefits

Cashback Structure

The Bitpanda Card offers a straightforward rewards program focused on cryptocurrency cashback:

• 1% cashback on all eligible purchases made with cryptocurrency
• Cashback is credited instantly in the same cryptocurrency that was spent
• No cashback when spending from EUR wallet, stablecoins (including USDT, USDC, and EUROCV), precious metals, or stocks/ETFs
• No staking requirements; cashback is available to all cardholders

Previously, higher BEST VIP levels (based on BEST token holdings) earned up to 2% cashback in Bitcoin, but these card-specific VIP benefits have been temporarily unified to a flat 1% cashback for all users. With the transition to the Vision token ecosystem, the BEST VIP program is being phased out, with VIP4 and VIP5 members retaining their status only until the end of 2025, regardless of their current holdings.

Additional Benefits

• Multi-asset spending capability across cryptocurrencies, precious metals, and stocks
• Fallback asset functionality to prevent declined transactions (full amount deducted from fallback wallet if main asset is insufficient)
• Instant transaction notifications through the Bitpanda app
• Offline transaction capability for contactless payments when connectivity is limited
• No card-specific referral program, though Bitpanda has a general platform referral program

Fees and Limits

The Bitpanda Card maintains a relatively straightforward fee structure, though users should be aware of the conversion costs that apply to each transaction.

Merchant Category Restrictions

• Excluded Categories: Automated fuel dispensers (pay-at-pump gas stations)
• Cashback Exclusions: Money transfer services, utility/tax payments, gambling

Card Tiers and Options

Bitpanda offers a single card tier with identical features for all users.

There are no premium tiers or metal card variants available. All users receive the same standard card with identical features and limits. While Bitpanda operated a loyalty program through its BEST token with VIP levels 1-5, these levels are being phased out with the transition to the Vision token ecosystem.

No business-specific card version is currently marketed, though eligible small business users in the euro area could potentially order the standard personal card if they meet the same verification requirements.

Top-Up Methods

The Bitpanda Card does not require pre-loading or manual top-ups; instead, when a purchase is made, the selected asset (from over 200 supported cryptocurrencies, precious metals, or stocks) is instantly converted to euros at the point of sale. Funds are automatically deducted from the user's Bitpanda account asset balance, with no option to top up from external/self-custody wallets or bank accounts—all assets must already be held in Bitpanda's custodial platform. Each transaction incurs a 1-1.5% trading spread as a conversion fee, and there is a €1.00 minimum transaction and a €10,000 daily purchase limit. The process is managed entirely through the Bitpanda app, where users can select or change their payment asset in real time, and custody of assets remains with Bitpanda until the moment of purchase. There are no delays—conversion and deduction occur instantly at the time of transaction, but users should note that only assets held on Bitpanda are spendable and all spending is settled in EUR.

Self-Custody Custodial

The Bitpanda Card uses a fully custodial model, meaning all assets available for spending with the card are held and managed by Bitpanda on behalf of users. Users can select which crypto, metal, stock, or fiat asset to spend via the app, but at no point do they control the underlying private keys or have independent access to their funds outside the Bitpanda platform. If Bitpanda or its card issuer were to cease operations, users would not be able to access their assets without the platform's involvement. This setup offers convenience, seamless real-time conversion, and broad asset flexibility, but comes at the cost of self-sovereign control and exposes users to potential platform risk. Security measures like cold storage and account protections are in place, but users should be aware that their assets are entirely dependent on Bitpanda's continued operation and regulatory compliance.

Supported Currencies and Conversion

The Bitpanda Card supports a wide range of assets for spending, all of which are converted to EUR at the point of sale.

Supported Assets

• Cryptocurrencies: 600+ crypto assets listed on Bitpanda, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Cardano (ADA), Solana (SOL), and others
• Stablecoins: USDT, USDC, EUROCV (spendable but excluded from cashback)
• Precious Metals: Gold, Silver, Platinum, Palladium (tokenized)
• Stocks/ETFs: Fractional shares of stocks and ETFs available on Bitpanda

Fiat Currencies

• Base Currency: Euro (EUR) only
• Card Denomination: All transactions settled in EUR
• Other Fiat Wallets: USD, GBP, CHF, etc. wallets on Bitpanda cannot directly fund the card

Conversion Process

The Bitpanda Card uses a seamless conversion process:

• Assets are converted to EUR in real-time at the moment of purchase
• Conversion occurs at Bitpanda's current market rate for the asset, with Bitpanda's usual trading premium/fees applied
• No pre-loading or manual conversion required; happens automatically when card is used
• User selects which asset to spend via the Bitpanda app
• If primary asset has insufficient funds for the full payment amount, the system automatically deducts the entire transaction from the designated fallback asset (not a partial split)

Settlement Details

• Merchant Settlement: Standard Visa settlement process in local currency
• User Settlement: Immediate deduction from user's asset balance on Bitpanda
• Refunds: All refunds are always credited in EUR to the user's fiat wallet, regardless of the original payment asset, because the card is denominated and processed in EUR

Geographic Availability

The Bitpanda Card is exclusively available to residents of euro area countries where the Euro (€) is the primary currency. The card is not available to UK residents.

Europe

Euro Area Countries: Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, Spain

Restricted European Regions: Despite Bitpanda operating in some of these markets, the card is not available in non-euro area EU/EEA countries (Bulgaria, Czech Republic, Denmark, Hungary, Poland, Romania, Sweden), the United Kingdom (Bitpanda temporarily paused UK registrations as of 2025), Switzerland, or other European non-EU countries.

Global Markets

The Bitpanda Card is not available in any non-European countries.

Bitpanda explicitly states that card availability is subject to change based on regulatory requirements. Users must maintain a verified residential address in a supported euro area country to keep their card active.

Compliance and Security

Identity Verification

• KYC Level Required: Tier 2 verification (full identity verification)
• Documentation: Government-issued ID and proof of address
• Verification Process: Digital verification through Bitpanda app (typically completed in minutes)
• Residential Requirement: Valid address in a euro area country
• Verification Method Restriction: Users verified via "Bankident" are currently not eligible to order the card

Regulatory Framework

• E-Money Licensing: Card issued by Transact Payments Malta Ltd, regulated by the Malta Financial Services Authority (MFSA)
• Bitpanda Licensing: ISO 27001:2022 certified (March 2025), BaFin-issued MiCAR license (January 2025)
• Visa Compliance: Operates under Visa Europe authorization

Custody Model

The Bitpanda Card operates on a fully custodial model:

• All assets spent via the card are held in Bitpanda's custody
• Majority of crypto assets stored in institutional-grade cold wallets
• Customer fiat funds held in segregated accounts separate from Bitpanda's operational funds
• No external wallet connections possible

Security Features

• Card Security: Standard Visa security features (EMV chip, PIN, 3D Secure for online payments)
• Account Security: Two-factor authentication (2FA), real-time push notifications, instant card freeze/unfreeze in app
• Transaction Monitoring: Visa's anti-fraud detection systems and Bitpanda's own security protocols
• User Controls: Instant card freeze/unfreeze functionality; PIN changes not available online but supported at some ATMs
• Offline Transactions: Card supports offline contactless payments with standard risk of later insufficient-funds issues

Technical Details

Mobile App Integration

The Bitpanda Card is fully integrated with the Bitpanda mobile app, offering:

• Dedicated card management dashboard
• Ability to change payment asset on the fly
• Real-time transaction updates and detailed records (including migrated transaction history from the previous card)
• Instant push notifications for all card transactions
• Security controls including card freeze/unfreeze functionality

Digital Wallet Support

• Apple Pay integration
• Google Pay support
• Re-enabled in May 2025 after brief gap during card transition

Transaction Processing

• Authorization: Standard Visa authorization process
• Conversion: Real-time conversion at the moment of purchase authorization
• Rate Determination: Bitpanda's current market rate for the asset, with Bitpanda's usual trading premium/fees applied
• Execution: Backend "Card Trade" executed on Bitpanda's platform, visible in transaction history
• Offline Capability: Card supports offline transactions when connectivity is limited

User Experience

App Functionality

The Bitpanda app provides comprehensive card management features:

• Asset selection for primary and fallback payment sources
• Transaction history with real-time updates (including historical data from previous card)
• Push notifications for all card activities
• Security controls including freeze/unfreeze functionality

Support Channels

• Primary Support: Helpdesk ticket system and detailed online Help Center
• Response Times: Variable; VIP users report faster service
• Languages Supported: Multiple European languages including English, German, French, Spanish, Italian

User Feedback

Positive Feedback:

• Ease of use and seamless integration with Bitpanda platform
• Reliable functionality for everyday purchases
• Smooth contactless payments and digital wallet integration

Common Complaints:

• Slow customer support response times for card issues
• Hidden costs in the form of trading premiums/fees on each transaction
• Tax implications of frequent crypto-to-fiat conversions
• Temporary technical issues during card transition period

Best Suited For

The Bitpanda Card is best suited for:

• Existing Bitpanda Users who want seamless access to their crypto investments for everyday spending
• Euro Area Residents who prefer a card with no FX fees from the provider for international travel and purchases
• Multi-Asset Investors who hold various cryptocurrencies, precious metals, and stocks on the Bitpanda platform
• Convenience-Focused Users who value instant liquidity over maximizing rewards or minimizing conversion costs
• Frequent European Travelers who benefit from the card's 0% FX fee policy from Bitpanda across different countries

Pros and Cons

Pros

• No monthly or annual fees for card maintenance
• 1% crypto cashback on eligible purchases
• 0% foreign exchange fees from Bitpanda (though Visa mark-up fees may apply)
• Seamless integration with Bitpanda's investment platform
• Flexibility to spend from multiple asset types (crypto, metals, stocks)
• Wide acceptance at over 54 million Visa merchants worldwide

Cons

• Limited to euro area residents only
• Bitpanda's usual trading premium/fees applied to each transaction reduce effective rewards
• 2% ATM withdrawal fee (minimum €2)
• Each transaction creates a taxable event in most jurisdictions
• Fully custodial model with no option for self-custody
• Only one active card permitted per user
• Users verified via Bankident cannot order the card

Conclusion

The Bitpanda Card effectively bridges the gap between crypto investments and everyday spending, offering euro area residents a straightforward way to utilize their digital assets, precious metals, and even stocks for daily purchases. Its standout features include the multi-asset spending capability, instant conversion at point of sale, and the absence of monthly fees or foreign exchange surcharges from Bitpanda.

The card's most significant limitations are its geographic restriction to euro area countries, Bitpanda's trading premium/fees applied to each transaction, and the potential tax complications from frequent crypto-to-fiat conversions. These factors should be carefully weighed against the convenience of instant liquidity.

While the card offers 1% cashback, the effective benefit is reduced by the conversion costs, potentially resulting in a minimal net reward for each transaction. This trade-off is acceptable for users who prioritize convenience and immediate access to their crypto assets, but may be less appealing to those focused solely on maximizing rewards.

For existing Bitpanda users in the euro area who value flexibility and ease of use, the Bitpanda Card represents a practical solution for accessing the value of their digital assets without the traditional multi-step process of selling crypto, waiting for settlement, and transferring to a bank account.

Additional Information

Tax Implications

Using the Bitpanda Card triggers taxable events in most jurisdictions, as each transaction involves selling crypto assets for fiat. The tax treatment varies by country:

• In Germany, crypto gains are tax-free after a one-year holding period
• In Austria, crypto-to-fiat conversions are generally subject to capital gains tax
• Most EU countries treat each card transaction as a disposal of the underlying asset

Bitpanda does not provide tax advice or automated tax reporting for card transactions. Users must maintain their own records for tax purposes, which can become complex with frequent card usage.

Fee Minimization Strategies

• Use EUR for Large Purchases: To avoid conversion costs on significant transactions, consider manually converting to EUR first at a more favorable time
• Maximize Cashback: Use crypto assets (not stablecoins or EUR) for all eligible purchases to ensure 1% cashback
• ATM Strategy: Minimize the 2% fee (minimum €2) impact by making fewer, larger withdrawals rather than multiple small ones

Transition from Previous Card

In early 2025, Bitpanda transitioned from its previous card issuer to Transact Payments Malta Ltd. The new card became available for activation on April 1, 2025, with the old cards deactivated on March 31, 2025. The transition included temporary disruption to Apple Pay and Google Pay integration, which was resolved by May 2025. Bitpanda migrated transaction history from the old card into the app for continuity.

Some users reported confusion during this period, highlighting the importance of following Bitpanda's communications regarding service changes.

Token Ecosystem and VIP Changes

In March 2025, Bitpanda announced a major overhaul of its token ecosystem, merging the BEST and PAN tokens into a new unified token called Vision (VSN). This change has significant implications for the Bitpanda Card and its benefits structure:

Vision Token Merger Details

• Conversion Rates: Fixed at 1 BEST = 4.91 VSN and 1 PAN = 0.89 VSN, based on 30-day averages ending March 25, 2025
• Timeline: Trading for BEST and PAN stops permanently on July 16, 2025 at 10:00 CEST
• New Token Launch: VSN trading begins on July 16, 2025 at 14:00 CEST
• Impact on Card Benefits: The transition affects the VIP program that previously offered enhanced card benefits

VIP Program Phase-Out

• Current Status: BEST VIP levels (1-5) that previously offered up to 2% cashback are being phased out
• Transition Period: BEST VIP4 and VIP5 members at the time of the merge announcement will retain their Bitpanda Club status until the end of 2025, regardless of their current holdings
• Future Structure: From 2026 onward, VSN holdings will not grant automatic Club access, though users can still qualify through trading activity
• Card Rewards: During this transition, all users receive a standardized 1% cashback on eligible crypto purchases

This token ecosystem change represents a significant shift in Bitpanda's loyalty program structure, with implications for long-term card benefits. Users who previously enjoyed enhanced rewards through higher VIP levels should note that these benefits are being standardized, with the possibility of new reward structures being introduced after the complete transition to the Vision token ecosystem.