Denmark based CASP4.8/5Penning vs Bitvavo — the MiCA-licensed Danish alternative
Bitvavo is the largest Dutch crypto exchange and one of Europe’s biggest euro spot venues, MiCA-authorised by the Dutch AFM. Bitvavo and Penning are both MiCA-licensed, so the comparison is about model and rails. Bitvavo is a custodial, EUR-only exchange authorised in the Netherlands. Danish customers weigh its low headline fees against a Danish counterparty that settles in DKK, delivers crypto to their own wallet, and can manage a portfolio.
Bitvavo is a MiCA-licensed Dutch exchange (Bitvavo B.V., AFM) and one of Europe’s largest by euro volume. For Danish customers, Penning is the closer fit: a Danish CASP that settles in DKK, delivers crypto to your own wallet rather than holding it, and is authorised for portfolio management — which Bitvavo’s license does not cover.
Comparison
Penning vs Bitvavo — feature by feature
Bitvavo is based in Netherlands. The comparison below reflects published information about each platform's product offering.
| Penning | Bitvavo | |
|---|---|---|
| Regulatory status | CASP authorised by the Danish FSA (FTID 10902), MiCA across the EU | CASP via Bitvavo B.V. (Netherlands AFM), authorised June 2025Source: ESMA CASP register + CoinDesk · checked 25 Jul 2026 |
| Who holds your crypto | Not held — delivered to your own wallet on every trade | Custodial — client assets held via third-party custodians (Coinbase Custody International, Copper), mostly cold storage, insured up to $755mSource: Bitvavo custody help pages · checked 25 Jul 2026 |
| Fiat rails | DKK via a Danish bank + EUR via SEPA | EUR only via SEPA (non-EUR payments are auto-refunded); serves Danish customers in EURSource: Bitvavo help pages · checked 25 Jul 2026 |
| Pricing model | Transparent fee shown pre-trade; no monthly fee | Low headline maker/taker from 0.15%/0.25%, down to 0.00%/0.02% at high volumeSource: Bitvavo fee schedule · checked 25 Jul 2026 |
| Assets | 190+ assets, delivered to your own wallet on 28+ chains | 275+ assets (per Bitvavo)Source: Bitvavo support · checked 25 Jul 2026 |
| Portfolio management | The only Danish CASP authorised for MiCA service (i); offered as Penning Invest | Staking and lending — which Bitvavo states are not regulated under MiCA — but no managed portfolio productSource: Bitvavo staking / earn disclosures · checked 25 Jul 2026 |
| Native cross-chain swap | Native Swap — settles in the destination asset on 28+ chains | Not offeredSource: bitvavo.com · checked 25 Jul 2026 |
| Who you contract with | Penning Financial Services ApS, Copenhagen — supervised by Finanstilsynet | Bitvavo B.V., Amsterdam; market leader in NL/BE, serving the SEPA zone including DenmarkSource: Bitvavo / AFM register · checked 25 Jul 2026 |
Good fit
Who Penning is a good fit for
Penning fits if you want a Danish counterparty, DKK in and out, crypto delivered to a wallet you control, and a managed strategy from the only Danish CASP authorised for portfolio management. Bitvavo remains a strong, cheaper choice for self-directed EUR spot trading with a large asset menu — if you’re comfortable with a custodial, Amsterdam-regulated model.
Frequently asked questions
FAQ
Yes. Bitvavo B.V. holds a MiCA CASP license from the Dutch AFM (granted June 2025) and can passport across the EEA, including Denmark.
Alternatives
Other comparisons
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