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Bitstamp Exchange Review

By Jinia02/22/2023

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Trading crypto can be difficult, especially if you are just getting started.  There are tons of exchanges to try out, more than a dozen concepts to learn and all sorts of scams to look out for. 

However, getting an intuitive and easy-to-use crypto exchange can be a great way to learn the ropes.  Bitstamp is one of the best choices for investors and traders who are looking for a simple solution to their trading needs. 

This crypto exchange executes orders immediately with a spot market that comes fully loaded with limit and market orders, not to mention trailing stop orders and stop orders.

You also get phone support in case of any technical difficulty, which is great for any beginner in the crypto space. 

In this article, I will take you through some of the top features that come with Bitstamp, their trading fees and security features. 

Let’s dive in.

Pros

  • Comes with in-app support

  • Features an intuitive user interface

  • Licensed to operate in multiple countries worldwide

  • Impressive daily trading volumes

Cons

  • No margin trading

  • Exchange was hacked in 2015

TLDR

If you are in a rush, here is a short version of the article:

•Bitstamp is a pioneer crypto exchange founded in 2011 and remains to be one of crypto’s longest-running exchanges.

•It offers an intuitive user interface with solid trading guides to get you started on your trading journey. 

•You can get access to sophisticated APIs with the advanced version of the exchange.

•While only supporting 70 plus crypto tokens, Bistamp still supports the most popular coins, such as Bitcoin, Ethereum and Litecoin, to mention a few. 

•This exchange doesn’t offer staking opportunities.  However, it boasts some of the lowest trading fees in the crypto space.  You can pay as low as 0.14% with the top trading volume discount.

Bitstamp  Funding Methods

MethodBuySellSpeed
Bank AccountYesYes2-5 Days
Debit/Credit CardYesYesInstant
Wire TransferYesYes2-5 Days

Overview of Bitstamp

Bitstamp is one of the oldest crypto exchanges to ever exist.  In the early days of Bitcoin, most people did not have an easy way of getting their hands on crypto.  Bitstamp was founded in 2011 with the aim of making it easy for mainstream users to get into the crypto space. 

While most exchanges have advanced their structure to a more sophisticated version, Bitstamp still maintains a reputation as one of the most easily accessible platforms for the average joe. 

Security and Safety Features

There are few crypto exchanges that can stand up to Bistamp’s long-standing record of reliability and security.  Bitstamp implements several security measures to protect its users’ assets, including a cold storage feature that stores the majority of the platform’s coins offline.

You also get two-factor authentication as well as SSL encryption that secures all communication between the user, the browser and the exchange’s servers.  Bitstamp also conducts regular security audits that work to fix vulnerabilities within its system. 

Supported Cryptocurrencies

You can trade multiple coins on Bitstamp, including popular options such as the following:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)
  • Stellar (XLM)
  • Chainlink (LINK)

Also keep in mind that, Bitstamp regularly adds new cryptocurrencies to its platform to give its users more options for buying, selling, and digital trading assets.  It’s important to note that the specifically supported cryptocurrencies may change over time and may vary by region.  It’s advisable to check Bit stamp’s website for up-to-date information on the cryptocurrencies supported in your area.

Trading Fees and Limits

Bitstamp charges trading fees for each transaction made on its platform.  The exact trading fees vary based on the trading volume and the coins being traded.

For example, there is a 0.25% fee for maker orders (orders that provide liquidity to the order book) and a 0.25% fee for taker orders (orders that take liquidity from the order book). 

However, these fees may change over time, and it’s advisable to check Bitstamp’s website for the most up-to-date information.

In terms of limits, Bitstamp imposes limits on the amount of crypto that can be deposited, withdrawn, and traded on its platform.  These limits vary depending on a bunch of factors, including the user’s account level and the cryptocurrency being traded. 

For example, the maximum deposit limit for unverified users is $10,000, while verified users may have higher deposit limits.

User Experience

When it comes to user experience, Bitstamp stands out for its intuitive interface.  It features a mobile app designed to operate on both iOS and Android devices. 

Other key features of Bitstamp’s user experience include:

Advanced trading tools

It can be a bit frustrating when all you need is a specific trading tool for your work.  The good news is that while Bitstamp is a simple platform, it comes with some advanced trading tools that more experienced users have come to expect.  These tools include sophisticated options such as margin trading and order types like limit and stop-loss orders.

Comes with Multi-language Support

Customer support is crucial for any online service. This exchange platform features customer support that is available in multiple languages, including English, French, German, Italian, and Slovenian.

High-quality customer support

You also get 24/7 customer support via email, phone, and live chat, making it easy for users to get assistance whenever they need it.

Is Bitstamp Safe?

Bitstamp uses several security measures, such as cold storage, two-factor authentication, SSL encryption, and regular security audits, to protect its users’ assets.  However, all centralized crypto exchanges are vulnerable to cyber-attacks, and Bitstamp is no exception. 

Be sure to keep your coins in a hardware wallet when possible.

What are Bitstamp’s Trading Fees?

As mentioned, Bitstamp charges a fee for each trade made on its platform.  The exact fee depends on the trading volume and the cryptocurrency being traded.  Bitstamp generally charges a 0.25% fee for both maker and taker orders.

Does Bitstamp Have a Mobile app?

Yes, you can use Bitstamp through a mobile app for iOS and Android devices, allowing you to trade on the go and access portfolios from anywhere.

Conclusion: A Great Choice for the Crypto Curious

The bottom line is that Bitstamp is a well-established cryptocurrency exchange that has been in operation since 2011.  The platform offers one of the most reliable solutions for people looking to get their feet wet in the world of crypto.

From its user-friendly experience for buying, selling, and digital trading assets, to its various advanced trading tools, Bitstamp is crypto’s best-kept secret when it comes to exchanges.

While there are exchanges with much lower fees, few platforms match up to Bitstamp’s level of reliability.

Article tags

Exchanges
Jinia

Author

Jinia is a fintech writer focused on the cryptocurrency market and passionate about blockchain technology. With years of experience, she contributes to some of the most renowned crypto publications such as Cointelegraph, Coinmarketcap and others. She also has experience writing about the iGaming industry.

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