Bitstamp, a pioneering exchange founded in 2011, has established a reputation as one of the most dependable and user-friendly exchanges on the market. As we discovered while doing research for our Bitstamp review, Bitstamp is an excellent choice for anyone looking to invest in the future of finance, thanks to its selection of over 80 cryptocurrencies and commitment to security.
- Founded in Slovenia in 2011, Bitstamp is now a global exchange serving over 4 million customers worldwide.
- Over 80 cryptocurrencies, including Bitcoin, Ethereum, XRP, Uniswap, and Litecoin, are available for trading on Bitstamp.
- Bitstamp’s intuitive interface and low trading fees make it a great choice for both new and experienced traders.
- Bitstamp has reasonable trading fees and doesn’t charge fees for trades under $1,000.
- Bitstamp offers a range of order types to meet your needs, including fill-or-kill orders, limit orders, market orders, stop orders, and trailing stop orders.
- Bitstamp offers crypto staking, phone assistance, educational materials, and devoted customer care specialists to help its consumers in the realm of crypto trading.
What Is Bitstamp?
Bitstamp is a global crypto exchange with offices in the UK, USA, Singapore, Slovenia, and Luxembourg, serving over 4 million customers worldwide. If you’re looking for a cryptocurrency exchange with a rich history and a strong reputation for security and compliance, Bitstamp is a great choice. Back in the day, Bitstamp was one of the first exchanges to offer Bitcoin trading and quickly rose to prominence as a rival to Mt. Gox.
With its strict regulatory compliance, including being regulated by the Luxembourg Financial Regulator and acquiring the first Payment Institution license in the EU, Bitstamp offers a high level of security for its users.
But another thing we noticed about Bitstamp is that it isn’t just secure; it’s also user-friendly. With an intuitive interface and low trading fees, Bitstamp is a great choice for both new and experienced traders. And with a selection of over 80 cryptocurrencies, including Bitcoin, Ethereum, XRP, Uniswap, and Litecoin, there’s something for everyone on this exchange.
Moreover, Bitstamp has a variety of order types to suit your needs, including instant orders, limit orders, market orders, stop orders, trailing stop orders, and fill-or-kill orders, whether you want to trade actively or invest for the long term.
Bitstamp is committed to assisting its users in the world of cryptocurrency trading by providing crypto staking, phone support, educational resources, and dedicated customer service representatives.
How to Open a Bitstamp Account
- Step 1: To create an account, visit the Bitstamp site and select “Register.” Create a strong password and enter your personal details.
- Step 2: Choose “Personal account verification” and complete the verification form. To establish your identity and address, you must upload a government-issued ID and a utility bill.
- Step 3: Bitstamp will let you know when your account has been approved after receiving your verification request and examining your supporting documentation.
- Step 4: Fill out the KYC form to provide additional information that will help speed up your deposits and withdrawals.
- Step 5: You can start trading on Bitstamp as soon as your account gets verified. You can buy, sell, and exchange cryptocurrencies after making a deposit using a bank account in your name.
To create an account in the new Bitstamp app, simply download and launch the app on your device. From there, enter your full name, email address, and birth date after choosing your country of residency.
Bitstamp will send you a confirmation email to make sure all the information is accurate. Your profile will be created once your email address has been verified, and you will then be able to begin trading cryptos on the app.
Is Bitstamp Safe?
To protect the private information and assets of its users, Bitstamp places a high priority on security. To keep assets secure, the exchange uses cutting-edge security solutions like a MultiSig wallet. An additional layer of defense against hacking attempts is provided by the fact that 95% of all assets are kept offline in cold storage systems.
Although Bitstamp suffered a security breach in 2015 during which hackers stole roughly 19,000 Bitcoin, the exchange has since rebuilt its network and put strong security measures in place to guard against similar incidents in the future. Importantly, Bitstamp made sure that no customers lost money as a result of the security flaw.
Additionally, users must set up two-factor authentication (2FA) when signing up on Bitstamp in order to increase security and prevent unwanted account access. From particular IP addresses and locations, users can also keep an eye on account access and regulate device management.
There was no mention of an insurance fund for user assets that we could find.
What Are Bitstamp Features?
Bitstamp provides more advanced trading tools such as TradeView and its crypto staking program, Bitstamp Earn, as well as a user-friendly trading platform and mobile app. However, Bitstamp does not offer futures trading, margin trading, and other handy features. Let’s go over these key features now:
Through its Bitcoin staking program, Bitstamp Earn, Bitstamp provides users with a simple way to earn rewards on their cryptocurrency holdings. You can earn competitive reward rates by staking your cryptocurrencies without the requirement for technical know-how or setting up staking yourself.
Bitstamp Earn supports two cryptocurrencies for now: Ethereum (ETH) and Algorand (ALGO), with locked staking on ETH at 4.5% APY and flexible staking on ALGO at 1.6%. Although the number of supported assets is now small, Bitstamp intends to increase it in the future to give users additional opportunities to receive rewards.
Bitstamp App Review
Bitstamp has two mobile apps for both Android and iOS devices for traders who prefer to trade on the go—Bitstamp and Bitstamp Pro. The standard app includes all of the features available on the web-based trading platform, such as the ability to buy and sell cryptocurrencies, view transaction history, and manage account balances.
In addition to its basic trading features, the app also includes a private mode function that lets users hide their account balances, switch between sub-accounts, and get alerts for open orders and order types.
With an excellent 4.8/5 star rating based on more than 5,000 reviews, the Bitstamp mobile app has earned nothing but positive reviews on the App Store and Google Play. This is evidence of the app’s intuitive interface and extensive capabilities.
For seasoned traders, Bitstamp offers TradeView, an active trading platform with more advanced charting features, a continuously updated order book, and depth charts. Trading on Bitstamp is ideal for those who desire more options and control when it comes to trading cryptocurrency.
TradeView also provides quick trading forms, allowing you to make trades faster and more efficiently, making it a suitable platform for experienced traders looking to capitalize on short-term price fluctuations.
The best part? Trading fees are the same whether you use Bitstamp’s regular platform or TradeView. This is in contrast to other major exchanges that offer lower fees on their advanced platforms. With Bitstamp, you can enjoy the same low fees regardless of the platform you use.
What Are Bitstamp Fees?
You won’t pay fees if your Bitstamp trade volume is under $1,000, and the good news is that its fee structure is quite competitive. There are two types of fees—maker fees, which you pay when you add liquidity to the market, and taker fees, which you pay when you remove liquidity from the market.
The table below shows the fee structure:
|30-Day Volume||Standard Maker Fee||Standard Taker Fee|
When it comes to fees for crypto withdrawals and deposits, all crypto deposits are free, and each currency has its own withdrawal fee, which is displayed in a table on the website. For example, withdrawal fees for Bitcoin are 0.0005 BTC, 0.0006 ETH for Ether, 0.001 LTC for Litecoin, 0.02 XRP for Bitstamp XRP, and so on.
While there are no upfront costs associated with either staking or unstaking assets, Bitstamp takes a cut of the reward pool gathered by its staking nodes. The commission, which covers all expenses related to staking, is set at a substantial amount of 15% of the total profits earned by the staking nodes.
The following table lists the withdrawal and deposit fees for several payment options, all of which are explained on its website:
|Payment Method||Bitstamp Fees|
|SEPA||No deposit charge;
$3 withdrawal fee
|Wire transfer||0.05% deposit fee;
0.1% withdrawal fee
Bitstamp Customer Support: Which Options Do They Provide?
Although the lack of a live chat feature is a little frustrating, you can still get in touch with customer care representatives through multiple emails, an email ticketing system, and phone help. They try their best to reply as soon as possible. The phone line is open from 6am to 10pm CET, Monday through Saturday.
In addition, the Bitstamp website has a comprehensive FAQ section for any queries, as well as Learn and Blog sections where users can access a wealth of useful information and learning tools about all things Bitstamp and cryptocurrency.
Bitstamp Reviews: What Do Customers Say About Bitstamp?
Bitstamp has a 2.3/5 Trustpilot rating based on nearly 700 reviews, but when you consider the platform has over 4 million users, it doesn’t seem all that bad.
Most users have complained about problems with money withdrawals and the time it takes to withdraw funds. However, we can see that Bitstamp representatives have responded to the majority of user complaints, indicating that they care about customer satisfaction.
Final Thoughts: Is Bitstamp Worth It?
Overall, Bitstamp is a solid choice for anyone looking to invest in cryptocurrencies. With a reputation for security, a wide selection of coins, and competitive trading fees, Bitstamp has established itself as a reliable and user-friendly exchange.
In our Bitstamp exchange review we found that It distinguishes itself from other exchanges because of its dedication to innovation, which includes its innovative trading platform and crypto staking program. Although it may not be flawless and lacks certain features, Bitstamp’s commitment to enhancing its platform and solving client issues makes it one of the best choices for crypto trading.
Is Bitstamp legit?
Bitstamp is a reliable cryptocurrency exchange. It has been in operation since 2011 and is regulated by the Luxembourg Financial Regulator.
Is Bitstamp better than Coinbase?
It depends on your personal needs and preferences. Both Bitstamp and Coinbase are reputable exchanges with different features and fees, so do your research before deciding which one to use.
Can I make money on Bitstamp?
Trading cryptocurrencies on Bitstamp has the potential to make you money. However, because cryptocurrency markets are highly volatile, you should conduct research and be aware of the risks involved.
Can I use Bitstamp in the US?
According to our Bitstamp review, Bitstamp is available in the United States and has offices there. However, some states have specific regulations that may limit your ability to use the exchange.