Backpack vs BSDEX Comparison
| 0.08/0.10% spot, 0.02/0.05% futures; 0.85% swap | Fees | 0.35 % |
| ~€5.75 | Cost for €1,000 | € 4.50 |
| ~50+ | Cryptos | 10 |
| Card, bank via Banxa; SEPA limited | Payment Methods | SEPA Transfer |
| VARA (Dubai); EU rollout via FTX EU only now | Regulation | Custodian of cryptocurrencies (Boerse Stuttgart Digital Custody GmbH) has a BaFin license. |
Cost comparison
The basis is a Bitcoin purchase worth €1,000, including all fees and spreads.
| ~€5.75 | Cost for €1,000 | € 4.50 |
| 0.08/0.10% spot, 0.02/0.05% futures; 0.85% swap | Fees | 0.35 % |
| Not disclosed | Wallet transfer | € 0 |
| No; tiers + hidden swap costs | Cost transparency | Yes |
| Unclear | Minimum Amount | € 10 |
| Card, bank via Banxa; SEPA limited | Payment Methods | SEPA Transfer |
Pros & Cons
- Low maker fees starting at 0.08% and taker fees starting at 0.10%
- Staking is available
- Wallet and exchange in one ecosystem
- VARA license in Dubai
- Cost transparency is seen as room for improvement – hidden costs occasionally criticized
- Wallet transfer fees are not disclosed
- No savings plan available
- Swap fees of 0.85% occasionally criticized
- BaFin-licensed custodian (Boerse Stuttgart Digital Custody GmbH)
- Trading fees of 0.35 % are considered low
- Wallet transfer always free (0 € withdrawal fees)
- Total costs of 4.50 € per trade
- Transparent fee structure
- Selection with only 10 cryptocurrencies is room for improvement compared with other exchanges
- No savings plan and no staking available
- Only SEPA bank transfer as a payment method – additional options are room for improvement
- 2FA only via SMS – TOTP support is occasionally criticized
User Experiences
AI AnalysisNot enough reviews available.
User reports on BSDEX overall paint a mixed picture: the clear layout, easy usability and low fees are mentioned frequently, while technical hurdles with login and app usage are also noted in the reviews.
This analysis is based on 578 user reviews evaluated by AI from the Apple App Store, Trustpilot, and Google Play Store. The total number of reviews on the respective platforms may be higher — the platform ratings shown (star ratings) refer to all reviews available there. The reviews presented reflect user experiences and do not represent the site operator's own assessment. All information is provided without guarantee. As of: March 2026. This comparison does not constitute investment advice.
Features
| ✓ | Savings plan | ✓ |
| ✓ | Staking | ✓ |
| ✓ | Wallet transfer | ✓ |
| ✓ | Cost transparency | ✓ |
| ✓ | 2FA security | ✓ |
| ✓ | SEPA transfer | ✓ |
| ✓ | Credit card | ✓ |
| ✓ | Minimum amount | ✓ |
| ✓ | Mobile app (iOS/Android) | ✓ |
| ✓ | Web platform | ✓ |
| ✓ | SEPA bank transfer | ✓ |
- Maker fees starting at 0.08% are considered low
- VARA license in Dubai
- Wallet and exchange on one platform
- Börse Stuttgart trading venue – Made in Germany
- Free wallet withdrawals for all supported cryptocurrencies
- BaFin-licensed custodian for crypto holdings
- Transparent fee structure starting at 0.35 %
The five areas head to head
AI AnalysisFees & Costs
Not enough reviews available.
Many users respond positively to the fees and costs. Low fees are highlighted several times in the reviews. Overall, the cost structure is perceived positively from the user perspective.
Usability & User Experience
Not enough reviews available.
Users often describe BSDEX as clear and easy to understand, and the intuitive app is also mentioned positively in reviews. At the same time, users report technical hurdles when using the platform, for example when logins are not possible, users have to log in again repeatedly, or the app occasionally freezes.
Features & Offering
Not enough reviews available.
Regarding features and the offering, the user data shows a rather reserved picture. Users mainly want more coins and more altcoins; a savings plan, a profit-and-loss display and a dark mode are also mentioned occasionally. According to reviews, a chart display is also sometimes requested.
Stability & Security
Not enough reviews available.
Regarding stability and reliability, users report in part positively about dependable everyday use. At the same time, reviews mention update problems, app startup difficulties, FaceID errors and repeated logouts. The fact that withdrawals are not possible is also occasionally mentioned in the user data.
Customer Support
Not enough reviews available.
The support is described by users in several reviews as fast, helpful and competent. Users particularly praise the prompt assistance in direct contact. In individual cases, users would like even more support for specific issues.
Details
| Trek Labs (FTX ties) | Company | Baden-Württembergische Wertpapierbörse GmbH |
| Dubai (VARA) | Headquarters | — |
| 2023 | Founded | 2019 |
| VARA (Dubai); EU rollout via FTX EU only now | Regulation | Custodian of cryptocurrencies (Boerse Stuttgart Digital Custody GmbH) has a BaFin license. |
| Unclear | Minimum Amount | € 10 |
| Yes | KYC | VideoIdent |
Verdict
In our overall rating BSDEX leads with 4.1 against 2.1 for Backpack.
For most investors BSDEX is therefore the better choice.
Backpack is operated by Trek Labs, a team that also includes former FTX employees. The exchange holds a VARA license in Dubai, but does not have EU regulation – according to comparison data, EU access is provided via FTX EU. 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, coin selection, and regulatory coverage in the EU.
BSDEX is valued as the official crypto trading venue of Börse Stuttgart and is considered one of the most trustworthy platforms in the German market. With custody licensed by BaFin through Boerse Stuttgart Digital Custody GmbH, trading fees of 0.35 % and free wallet withdrawals, the platform is viewed positively by security-conscious investors.
The selection of only 10 cryptocurrencies is clearly room for improvement compared with other exchanges. The absence of a savings plan, staking and alternative payment methods beyond SEPA is also occasionally criticized. The 2FA protection via SMS only instead of TOTP is likewise seen as needing improvement.
BSDEX is considered particularly suitable for investors who value a German, regulated infrastructure connected to Börse Stuttgart and want to focus on the main cryptocurrencies such as Bitcoin and Ethereum.