- Bitvavo, a Netherlands-based crypto exchange, has overtaken Binance as the top platform in Europe for euro-denominated trading volume.
- With over 1.5 million users, Bitvavo’s adherence to Dutch regulations and clear fee structure have positioned it as a top choice for European crypto traders.
The cryptocurrency exchange landscape in Europe has seen a major shift, with Amsterdam-based Bitvavo surpassing Binance in euro-denominated trading volume. Bitvavo, founded in 2018, has climbed to the top spot for European crypto traders, accumulating over €26 billion in trading volume through 2023. This data, released in January 2024 by the analytics firm Kaiko, highlights a decisive trend: as regulatory requirements grow stricter, users are increasingly gravitating towards platforms with localized, secure, and transparent trading environments.
As of 2023, only five major exchanges dominated 97% of Europe’s euro trading volume, with Bitvavo now leading the pack. Kraken follows in second place, while Binance has slipped to third, with Coinbase and Bitstamp completing the top five. This hierarchy underscores the increasing relevance of regulation in European crypto markets.
Bitvavo, regulated by the Dutch Central Bank, fully complies with the European Union’s financial directives. This compliance has positioned it as a stable and trusted platform amid Europe’s shifting regulatory landscape for digital assets.
Bitvavo’s regulatory status in the Netherlands brings a level of assurance that appeals to European users. Unlike exchanges that operate without direct EU-based oversight, Bitvavo offers SEPA payments, which enables smooth and fast transfers across European accounts. For customers, this means not only efficient fund transfer but also an alignment with EU financial laws and protection standards.
With the introduction of the MiCA (Markets in Crypto-Assets) regulation, which seeks to unify crypto asset regulation across the EU, Bitvavo’s early compliance efforts give it a strong competitive edge.
Additionally, Bitvavo’s fee structure is a significant draw for users. Employing a “maker-taker” model, Bitvavo charges zero fees for makers and up to 0.25% for takers. This structure incentivizes higher trading volumes with discounted fees, creating a transparent trading experience without hidden charges—a key factor for attracting users. In addition to its user-focused pricing, Bitvavo emphasizes security.
The platform implements industry-standard safeguards like cold storage, two-factor authentication, data encryption, and even offers a €100,000 insurance fund to cover potential losses due to theft. These measures resonate well with users concerned about security and fraud in the volatile cryptocurrency environment.
The euro’s rising prominence in crypto markets also plays a role in Bitvavo’s success. In 2023, the euro’s share of total crypto trading volumes reached nearly 17.2%, doubling its prior proportion against the U.S. dollar. This increase, particularly in Europe, has benefitted exchanges like Bitvavo that prioritize euro-denominated trades.
Bitvavo offers an extensive selection of over 300 cryptocurrencies and a range of payment methods specifically for European users. Payment options include free bank transfers within Europe, as well as iDEAL, Bancontact, credit cards, PayPal, SOFORT, and EPS transfers, making it exceptionally accessible for a wide European audience.
For new users in the Eurozone, Bitvavo also provides an introductory offer. Eligible registrants who complete identity verification and deposit a minimum of €10 receive a €10 welcome bonus. The platform’s interface and services, including staking, automated investments, and crypto lending, make it an appealing choice for both novice and experienced traders.
Through Bitvavo’s commitment to regulatory compliance, transparent pricing, and comprehensive security, the platform has become a dominant player in Europe’s evolving cryptocurrency landscape, marking a notable shift in user preference away from Binance.