Bitpanda savings plan is periodical purchase of a cryptocurrency or metal on the Bitpanda platform. You can learn more about the benefits of savings plans here.
- VISA card
- SEPA transaction
You can use credit and debit cards issued by VISA and Mastercard that are using 3D-secure technology for savings plans.
After choosing your payment method, you will need to set the amount you would like to spend and this set the frequency of the purchase.
- Daily (only for VISA and Mastercard), Weekly, Bi-weekly and Monthly
- Day and hour of the day
If you are in the European union then you can also set up a savings plan with SEPA transactions which are for free. Keep in mind that setting up a savings plan with SEPA will be free of charge for the transaction from your bank but Bitpanda will still charge you a fee from the purchase on the platform.
It is important to note that the amount might be deducted from your account up to 10 days before the actual purchase date.
Setting up a savings plan using SEPA is possible because Bitpanda uses the SEPA Direct Debit Mandate which allows Bitpanda to collect future payments from your bank account. This is fully legit and there is no risk involved for you as a user as you are protected by the Direct debit.
Below you will find a quick guide on how to set up a savings plan on Bitpanda in a few minutes.
First you have to choose a wallet which you want to set up a savings plan for. In this case we will choose Ethereum.
Next you would have to choose how to pay for your savings plan.
If you haven’t already added a credit card or a SEPA account you will have to add that now.
Next up you will have to input the amount you want to purchase for, as well as the rate of your purchases. Here you also have the possibility to use BEST for a fee discount on your savings plan.
Lastly you will need to confirm your savings plan.
Then you are done. Now you will consistently purchase cryptocurrencies or metals on a regular basis without having to worry about if it is the right time to buy.
You can at any time set your savings plan on standby or cancel it.
Bitpanda is the leading crypto exchange in Europe with more than 1 million users. You can trade more than +30 cryptocurrencies, gold, silver and other metals.