Direct comparison
Two Germany, Austria and Switzerland multi-asset brokers — native crypto with wallet payout vs. ETP depot without coin-off ramp.
Key differences to help you choose, without an overall score.
| criterion |  Bitpanda |  Scalable Capital |
|---|---|---|
| Headquarters | Austria | Germany |
| MiCA licenseMiCA / CASP: EU crypto regulation. CASP = authorized license. Passporting = EU-wide use via an approved entity. Unclear = status not reliably documented. | CASP license (authorized) | Unclear / not proven |
| Deposit | Bank transfer (SEPA), SEPA Instant, card, PayPal | Bank transfer (SEPA) |
| Recurring buys | Yes · from EUR 25 | Yes · from EUR 1 |
| Payout your own wallet | Yes · 0.0001 BTC | ✕ |
| Support | Chat · Email | Ticket system |
| Cost modelCost model: “Order book” = maker/taker fees. “Spread” = markup in the displayed price (typical broker/app) — no classic maker/taker rates. | spread | Spread + EUR 0.99 Flat |
| Order types | Market and limit buying in the app | Broker orders on crypto ETPs (no native spot order book) |
| API + Sub Accounts | API: Yes · Sub: No | API: No · Sub: No |
| EUR spot pairs | > 100 | < 20 |
| Costs (EUR 1,000 one-time purchase) | EUR 14.90 · 1.49% Spread | EUR 10.89 · EUR 0.99 Flat + 0.99% Spread |
| To the offerAffiliate links |
| criterion | Bitpanda | Scalable Capital |
|---|---|---|
| KYC / VerificationKYC (Know Your Customer): How closely the identity is checked. “None / Wallet” = often just Wallet Connect. “Standard” = usual ID check. “Complete” = ID plus proof of address or similar. | Complete (ID + Address) | Complete (ID + Address) |
| app | ✓ | ✓ |
| Staking | ✓ | ✓ |
| Futures / PerpsFutures / Perps: Futures contracts or perpetual perpetuals with leverage. High risk of loss up to total loss — not the same as spot buying. | ✕ | ✕ |
| German tax reportTax report DE: Export for German tax. “Native” = provider report. “CSV” = file import into tools. “API export” = automated retrieval. “No report” = document yourself. | Native | Native |
| Proof of ReservesProof of Reserves: Whether the platform publishes reserves (often with liabilities). “Self-certified” ≠ independent testing; “Third-party attested” = external confirmation. | None | None |
| Maker/Taker baseMaker/Taker: Order book fees. Maker provides liquidity (limit order), taker takes it (market order). Often “n/a” at spread brokers. | n/a (spread) | n/a (spread) |
Conclusion — Strengths, limitations and suitable uses. Your workflow and the functions it requires are what matter.
Bitpanda and Scalable Capital are two Germany, Austria and Switzerland multi-asset brokers with spread pricing logic — no maker/taker order books. Both are suitable for users who want to invest in crypto and other assets via app or recurring investment plan, without a Pro-CEX trading mask. The features table below shows differences in deposit, wallet withdrawal and regulation; The native tax report DE is documented for both and does not separate them. Spread costs appear in the effective rate, not in an isolated fee line.
Bitpanda is documented as an Austrian broker-style crypto exchange (CASP/FMA): PayPal, SEPA and SEPA Instant for euro deposits and withdrawals to your own wallet. API and staking are present; Futures and Perps are missing. The spread between buying and selling is the relevant cost anchor - recurring investment plan conditions belong in the same calculation. Profile: Bitpanda.
Scalable Capital combines stocks, ETFs and crypto ETPs in one securities portfolio - no native spot order book with coin payout. BaFin supervision of the bank entity is documented; MiCA status for crypto related is unclear. Payout to your own wallet is missing from the ETP logic. If you need real coins on-chain, compare brokers with wallet off-ramp, not ETP depots. According to the catalog, FREE costs EUR 0.99 Flat plus 0.99% crypto spread — all-in scenario. Profile: Scalable Capital.
The comparison only makes sense if expectations match: Bitpanda for native crypto with wallet payout and PayPal; Scalable for portfolio investors with ETP exposure without coin withdrawal. No overall grade - the relative classification is derived from the catalog lines.