Review: Bitcoin.de

Bitcoin.de is a fairly major European bitcoin marketplace, based in Germany, in association with FIDOR Bank. They are not an exchange Bitfinex or Bitstamp or are they a centralized broker . Instead, they are operate under an eBay-like model, similar to LocalBitcoins. Buyers and sellers offer prices, much like on a traditional exchange, but fulfillment is slower.

Overall, Bitcoin.dewill provide a user experience similar to that of Coinbase, but with lower liquidity, albeit in a different environment. I’d suggest that most people would be better off using Bitstamp.

Details:

  • German-based
  • BTC to and from Euros only
  • ~2-3% higher priced than BTC-e (mostly due to lack of Euros on BTC-e)
  • Several day clearing process

Pros:

  • Fairly easy to use
  • Enough liquidity for a normal person, nowhere near enough for a major investor or trader
  • Fairly solid security for both buyers and sellers

Cons:

  • Fees of about 1%, split between buyer and seller
  • Completely unusable for traders–this is for small, occasional purchases
  • Fraud prevention process can be slow
  • Basically not an exchange
  • Fairly high slippage and low liquidity / volume–it’s hard to buy more than 3 bitcoin without experiencing at least 1% slippage.
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