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The Bitpanda platform arrived in Spain after landing in France and is targeting Turkey

June 10, 2020

The digital investment platform Bitpanda has officially arrived in Spain. Spanish users can create an account and invest at least one euro. This was reported to Cointelegraph on June 9th by a statement in Spanish.

The company was founded in 2014 with the vision of accelerating the transition to a tokenized world. Bitpanda offers access to the world of assets like Bitcoin, Gold and more than 30 digital assets. Now the company is coming to Spain with an expansion strategy after starting in France last month.

As this fintech reports, the company has 1.2 million users across Europe. In March alone, Bitpanda recorded a trading volume of € 200 million and a net profit of € 3 million. The trading volume increased by 200% compared to the previous year.

The Bitpanda platform arrived in Spain after landing in France and is targeting TurkeyThe Bitpanda platform arrived in Spain after landing in France and is targeting Turkey

Eric Demuth, CEO and Co-Founder of Bitpanda, said:

“We have been waiting for this moment for years. The Spanish market is currently one of the most attractive in Europe for investment and fintech platforms. Although thousands of Spaniards do not offer the service in their native language, they carry out all kinds of operations on our platform every day Spaniards are trying to liberalize the use of financial services and have more control over their personal finances. “

Please note that compliance standards in every market comply with the latest financial regulations, including the recently launched AML5. With a PSD2 license for payment service providers from Bitpanda, among others, they claim that it has become a popular investment platform for both beginners and experts.

Before arriving in Spain The Vienna-based company landed in France in May. The next market will be Turkey in August this year.

In this context, Demuth stated:

“Our goal for the coming years is to become the world’s leading neobroker. In the coming months we will include stocks and ETFs so everyone has access to the financial market from all over the world. “

Some information about Bitpanda and Spain

In the statement, they said that Spain was a great opportunity for Bitpanda. “The interest and knowledge about cryptocurrencies, blockchain and investments in general is far superior to other environmental countries. This interest is reflected in the number of Spanish users on our platform, even though they are not in Spanish, ”they emphasized.

“Even at the legal level, there is a favorable environment for fintech companies that work with blockchain in Spain,” they later noted.

On the other hand, they explained how the users are: “While our typical user worldwide is a man between 26 and 35 years, the users in Spain are younger and have an average age between 18 and 25 years. In addition, the number of women using Bitpanda is higher in this country. “

Bitpanda emphasized that the growth of new accounts on the investment platform shows that young and inexperienced users viewed the coronavirus crisis as an entry point into the world of investment.

“The overall volume of the platform and the average operator volume increased dramatically compared to the previous year. Registration of people under 35 has increased on the platform, ”they stressed.

It should also be noted that of the Spanish investors already present on the platform, the assets in which Spanish investors have currently invested the most are gold, bitcoin and ethereum.

Bitpanda operation

To use Bitpanda, you need to download an application that is available for Android and iOS. It can be downloaded on mobile devices and also on laptops. A review process must be performed after downloading. When you complete it, you can already buy, trade and sell digital assets like Bitcoin, Ethereum, as well as gold, silver, platinum and palladium.

About Bitpanda

Bitpanda is a fintech company based in Vienna, Austria, founded in 2014 by Eric Demuth, Paul Klanschek and Christian Trummer. As they found out from the company, they believe in the innovative power of digital assets and blockchain technology. Bitpanda’s mission is to break down investment barriers and bring traditional financial products into the 21st century.

About Eric Demuth

Eric Demuth is an entrepreneur, CEO and co-founder of Bitpanda with experience in eSports. He has had a career in finance in London and Vienna since 2009. As mentioned in the statement, he was frustrated with how difficult it was to buy and sell cryptocurrencies like Bitcoin and was a co-founder of Bitpanda.

Before that, he had traveled around the world as a ship mechanic on Hapag-Lloyd container ships. He later studied economics at WU Vienna and at the London School of Economics Political Science.

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