Summary: Vivid Money is an innovative fintech company that offers its customers direct access to the cryptocurrency market through its digital banking platform. Despite its integrated crypto services, we suggest using external platforms to benefit from lower fees and a wider range of options. This approach adheres to the German Federal Financial Supervisory Authority (BaFin), ensuring a safe and compliant trading environment.
Following our in-depth research, we recommend Bitpanda as the best exchange for Vivid Money clients. Bitpanda is a regulated broker based in Austria that complies with BaFin standards and provides seamless EUR deposits. It offers access to a wide range of over 3,000 digital assets. Furthermore, it enhances the trading experience with exclusive features like KPMG-audited proof-of-reserves, DCA investing strategies, crypto debit cards, and multilingual customer support.
- Fast and free Euro (EUR) deposits from Vivid Money via SEPA, Credit Card, Debit Card and more.
- Trade 3,000+ crypto assets, stocks, ETFs and more in one platform.
- Offers crypto staking on over 100 cryptocurrencies with up to 25% APY in rewards.
Bitpanda is licensed and regulated by The Federal Financial Supervisory Authority (BaFin).
Can I Buy Bitcoin with Vivid Money?
Yes, Vivid Money clients can easily participate in cryptocurrency investments. While direct trading is available through its app, using licensed digital asset exchanges in Germany provides a more comprehensive and efficient experience. After transferring Euros, customers can explore a variety of tokens on these external platforms, including Bitcoin. Choosing exchanges that conform to BaFin standards is crucial for secure and efficient transactions.
How to Buy Crypto with Vivid Money
Vivid Money customers are advised to access the cryptocurrency market via BaFin-approved exchanges. We chose Bitpanda as the leading choice because of its strict adherence to financial regulations, superior security measures, and overall transparency. In addition, the platform supports a broad range of digital assets and offers diverse payment methods, including Mastercard, Visa, Sofort, and SEPA transfers.
If you have no experience but want to start trading, simply follow these steps:
- Register: Create an account on Bitpanda and complete all necessary identity verifications.
- Pick a Currency: Initiate a ‘EUR’ transfer in the ‘Deposit Funds’ section.
- Fund Your Balance: Select your preferred deposit method and specify the investment amount in EUR.
- Complete the Transaction: Explore the platform, choose a cryptocurrency, and finalize your purchase.
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Vivid Money Cryptocurrency Policy
Vivid Money takes a progressive stance, enabling crypto investments on its platform. However, for a broader and more economical experience, we recommend utilizing third-party exchanges that align with the Federal Financial Supervisory Authority. Bitpanda is our top recommendation, ensuring safe and transparent trading. Bitpanda is located at Friedrich-Ebert-Anlage 36, 60325 Frankfurt a.M., Germany, and is governed by the regulations of the BaFin.
Digital Asset Investing Fees
Grasping the financial implications of investing in digital currencies is a key factor for anyone entering this sector. Understanding these costs contributes to the effective management of your portfolio and optimizing your returns. Here's what you can expect in terms of fees on major crypto asset exchanges:
- Deposit Costs: When you add funds to your account, the charges depend on the chosen payment method. SEPA transfers, for instance, are generally cheaper than using credit or debit cards.
- Transaction Fees: The costs incurred while buying or selling tokens are not the same across all platforms. Exchanges like Bitpanda are noted for their affordable pricing, typically charging around 0.1% per transaction.
- Withdrawal Charges: The expense for taking out digital currencies off the platform varies based on the specific coin involved. For instance, the standard rate for Bitcoin is approximately 0.0005 BTC.
Bitpanda is an excellent choice for Vivid Money users. It provides a user-friendly experience and access to a vast range of over 3,000 digital assets, including a range of cryptocurrencies, ETFs, stocks, and precious metals. Its competitive fee structure is especially appealing, catering to both newcomers and experienced investors in Germany.
What is Vivid Money?
Vivid Money is a fintech company based in Berlin, Germany, whose super app allows users to manage their accounts in one place, track their spending, and set goals. Its comprehensive range of financial services includes multi-currency accounts, high-interest savings options, and investment products. Moreover, Vivid Money brings investment opportunities in the form of stocks, ETFs, and digital currencies.
Launched in 2020, the company is part of the wave of neo-bank ventures launched in Europe. The platform is popular for its intuitive interface, zero-fee policy on many services, and cashback rewards program. Overall, by emphasizing flexibility and efficiency, Vivid Money caters to techie clients seeking modern solutions and investment opportunities.
Final Thoughts
In summary, Vivid Money seamlessly integrates cryptocurrencies into its platform. It provides clients with both direct trading options and access to external digital asset exchanges. This dual approach ensures adherence to the regulations of BaFin, establishing a secure and compliant investing environment. Bitpanda is the recommended exchange, offering swift and free Euro transactions and a comprehensive range of over 3,000 digital assets at competitive fees. Additionally, it enriches the user experience with unique features like DCA crypto debit cards and multilingual customer support, catering to a diverse audience.
I fell into crypto during the 2017 mania and have been around ever-since. I now write, research and publish my own reports on the digital asset ecosystem.
