Backpack vs Bitcoin.de Comparison

Editorial assessment, November 2026: We have downgraded Backpack to 2.0 out of 5 and make no recommendation. The European entity Trek Technologies SIA (Backpack EU) has been authorised under MiCA since 27 May 2026 and is listed in the ESMA register (file dated 5 November 2026). On cost transparency, coin selection and savings features, however, Backpack falls short of the exchanges we recommend: we found no published fees for withdrawals to your own wallet, the offer covers around 50 coins, and there is no savings plan. MiCA-licensed exchanges are listed in our exchange comparison.

Backpack is operated by Trek Labs, a team that also includes former FTX employees. Its European entity is regulated in the EU: on 27 May 2026, the Bank of Latvia granted Trek Technologies SIA two licences, a CASP authorisation under MiCA and a payment institution licence. For derivatives, the provider names Trek Labs Europe Ltd, an investment firm under MiFID II supervised by Cyprus's CySEC, and there is also a VARA licence in Dubai. The low maker fees starting at 0.08% and the integration of wallet and exchange in one ecosystem are appreciated by users.

Cost transparency is seen as room for improvement; in particular, the undisclosed wallet transfer fees and swap fees of 0.85% are occasionally criticized. The selection of around 50 cryptocurrencies is limited compared with larger exchanges, and the lack of a savings plan limits the options for long-term investors.

The connection to former FTX employees is viewed differently in the market. Backpack is aimed primarily at technically savvy users who are looking for low trading fees and integrated wallet features and are willing to make compromises on cost transparency and coin selection.

Bitcoin.de is regarded as a pioneer among German crypto marketplaces and has been active since 2011, making the platform one of the oldest providers in the German-speaking market; it says it has more than 1.1 million customers. The principle that euro balances remain in the user’s own bank account is viewed positively by security-conscious users.

Trading has largely been suspended since 12 June 2026, and deposits are paused as well. On 6 October 2026 the parent company Bitcoin Group SE announced that BaFin had not granted the application futurum bank AG filed on 27 June 2025 for authorisation as a crypto-asset service provider under MiCAR; this also ends the toleration under which its crypto services had been running. The bank can lodge an objection within one month of notification. For the restart, bitcoin.de is preparing a cooperation with two regulated partners based in Germany, an institution acting as trading partner and a custodian; the provider has not given a date (customer notice dated 7 October 2026). Until the transfer, futurum bank AG continues to hold the crypto assets, and withdrawals to your own wallets remain possible.

The selection of just 10 cryptocurrencies is clearly room for improvement compared with modern exchanges. The limitation to SEPA as the only payment method, the lack of a mobile app, and 2FA protection only via SMS are also occasionally criticized. Some users consider the interface in need of modernization. According to the provider, the new platform with apps for iOS and Android, more than 100 cryptocurrencies, savings plans, swaps and staking is technically complete, but it will only launch with the new operating model.

As long as trading is paused, Bitcoin.de is not an option for new purchases; existing customers can withdraw their crypto assets to their own wallets. After the announced restart, the platform will mainly appeal to investors who want to rely on a long-established German provider; fees and coin selection under the new model have not yet been published.