Bitvavo Review - The Cheapest Crypto Exchange from The Netherlands

Bitvavo Review – The Cheapest Crypto Exchange from The Netherlands

It is finally there; the new and highly anticipated platform of Bitvavo was launched on 8 March. This is the first real Dutch Crypto exchange. The new platform is distinguished by the following features:

  • Lowest trading costs in The Netherlands(0% – 0,25%).
  • Wide range of more than 50+ digital currencies.
  • Suitable for both beginners and experienced traders.
  • Possibility to trade for unlimited amounts.
  • Possibilities for automated trading by means of available API.

Below we will explain further which changes have taken place exactly in relative to the old platform.

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1. The new platform

The new platform consists of two parts, namely:

  1. the basic interface; and
  2. the advanced interface.

After this, the changes and / or the main features of both interfaces will be discussed.

1.1 Basic interface

The following changes have been made to the basic interface:

  • Users must first select a certain digital currency before they can proceed to (a) buy, (b) sell, (c) deposit of (d) withdrawal.
    • This makes the basic interface more transparant.
    • This allows the user to see the graph of the relevant digital currency as it proceeds to purchase or sale order.
  • Users have the possibility to start a live chat directly from the basic interface with the Support department of Bitvavo.

In addition, the following practical points are important:

  1. Euro is used as a base pair on the basic interface:
    1. In the short term, however, it will also be possible to carry out any-to-any transactions which will then be two market orders in a row (From Altcoin A to Euro and from Euro to Altcoin B).
    2. All orders on the basic interface will be executed as a market order.

1.2 Advanced mode

For the experienced traders the advanced interface has been added with the following possibilities:

  1. The trading chart that can be used for technical analyzes.
  2. The order book which is visualized by the depth chart.
  3. Advanced orders.

With the advanced interface, Euro and BTC are the base pairs that can be traded against the other 50+ digital currencies supported by Bitvavo.

1.2.1 Trading Chart

The Trading Chart offers the user a wide range of tools for applying technical analyzes. Thus the user has access to:

  • Several indicators.
  • Candlesticks which illustrate the executed transactions.
  • Different tools with which own analyzes can be made.

The trading chart must help the user to better determine when it is the right time to switch to a transaction.

1.2.2. The order book

An important part of the advanced interface is the order book. Here the user can see exactly which:

  1. orders are all in the order book.
  2. outstanding orders the user still has in the market.
  3. orders from the users are already filled.

The order book is visualized on the basis of the depth chart, where the user can determine for himself how far this is zoomed in or out.

1.2.3. Order types

If the user wants to place a new order, this choice has the following options:

  • Market order
    • The order will be executed immediately at the best available price.
  • Limit order
    • The order will be only executed at a predetermined price, with the user having the following options:
      • Good-til-Canceled.
        • The order remains in the order book until it is filled or canceled.
      • Immediate-or-Canceled.
        • The part of the order that cannot be filled will be cancelled.
      • Fill-or-Kill.
        • The entire order will be cancelled when it cannot be filled immediately.

After launching the exchange, more types of orders will be added, including stop-loss orders.

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2. Trading fees

Trading fees will be significantly reduced, using a ‘maker’ / ‘taker’ structure to which different ‘tiers’ apply. The fee structure will look like this:

€ 0+0.25%0.20%
€ 50 000+0.24%0.15%
€ 100 000+0.22%0.10%
€ 250 000+0.20%0.06%
€ 500 000+0.18%0.03%
€ 1.000 000+0.16%0.01%
€ 2.500 000+0.14%-0.01%
€ 5.000 000+0.12%-0.03%
€ 10.000 000+0.10%-0.05%

To determine the ‘tier’ we look at the traded volume of the user over the past 30 days. In principle, every 24 hours a review is made of which ‘tier’ a user belongs to, but users have the option to have this adjusted in real-time (e.g. if they have recently executed a few large orders).

3. API possibilities

Bitvavo introduces the possibility to use the Bitvavo API. An API (application programming interface) is a basis on which computer programs can communicate with each other. By means of the Bitvavo API it is possible for the user to pass (automated) orders or (automated) request information about the digital currency that can be traded on the renewed trading platform of Bitvavo.

To make the API as accessible as possible, Bitvavo has developed SDK / API documentation that explains exactly how the API works. This SDK / API documentation can be found here.

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4. Closing

With the above developments, we believe that digital currencies are even more accessible to everyone and we also expect to contribute to a maturing market. Hereafter we will focus on:

  • Expanding the possibilities on the exchange.
  • Expanding the trading pairs on the exchange.
  • Developing an app for the exchange.
  • Renew the front-page on the other webpages.
  • Offering our services in the rest of Europe.

We hope to have informed you sufficiently about recent and future developments through this update. If you have any questions, please let us know.