Bitstamp Review: A User-Friendly Exchange with Competitive Features
Bitstamp is one of the first cryptocurrency exchanges. It offers a user-friendly platform with very low trading costs. Bitstamp has more than 70 cryptocurrencies, which is less than some other exchanges. However, it is still more than enough for beginners. Bitstamp’s range of cryptocurrencies is limited, but it is still a popular choice for novices. The exchange was founded by Nejc Kodri, and Damijan Merlak earlier this year. In October 2018, the exchange was sold to NXMH (a subsidiary of South Korean holding company NXC). It was sold to NXMH, a subsidiary of the South Korean holding group NXC, in October 2018. The transaction was valued at $400 million. The exchange offers traders the ability to trade cryptocurrencies via its active trading platform, mobile apps, or an internet trading platform. Bitstamp is constantly adding new coins to give clients greater access to the vast cryptocurrency world. Bitstamp has made great strides in this area. Bitstamp may have DeFi-related tokens, as well as popular cryptocurrencies such Bitcoin, Ethereum, and XRP. Chainlink, Uniswap and Aave are just a handful of the names.
Founders: Nejc Kodric; Damijan Merlak
Area served: London and Luxembourg, Slovenia, New York City
Key people: JB Graftieaux, Nejc Kodric (Board member) and Damian Merlak.
Products: Cryptocurrency exchange, digital assets
Revenue: $72.9 Million (2022).
This Bitstamp review will cover the main aspects of the exchange. It will help you decide if it is the right choice for you. Here is a brief summary of the exchange’s advantages and disadvantages.Create Bitstamp accountProsConsDedicated in-app customer supportStill doesn’t list as many cryptocurrencies as some of its main competitorsOffers major cryptocurrencies and access to popular altcoinsA limited list of supported currenciesGreat reputationA very short list of coins supported for stakingStrong trading volume and liquidityNo margin trading or lending featuresSupports U.S. customers2015 hack resulted in the loss of $5.2 million worth of BTCEasy-to-use platformCompetitive feesLong history of supporting cryptocurrency usersFeaturesBitstamp was the first crypto exchange in the world to obtain a national license. Bitstamp was allowed to operate in 28 European countries. However, Bitstamp USA, Bitstamp’s affiliate, is permitted to provide services to US customers. Bitstamp’s 2015 hack resulted in the loss of $5.2 million worth of BTCE. Bitstamp has a long history of supporting cryptocurrency users. The exchange supports spot trading in a growing number of cryptocurrencies. You can also deposit and keep US dollars, British Pounds, and euros. Below is a list of currencies supported by Bitstamp:Bitcoin
XRP (Not available in U.S.
TradingEven though Bitstamp has a well-designed user interface, some people may find it difficult to use at first. Bitstamp supports 5 order types: Market order
Fill-or-kill orders – Buy or sell the exact amount you specify at the exact price.
The exchange furthermore gives users the possibility to place trailing stops and sell at the price of an executed limit order.FeesBitstamp fees are typically relatively cheap, beginning at 0.5% on all pairings, however they can vary according to your 30-day USD volume and can decrease if you generate a lot of trading volume.Purchases made with credit cards incur a flat cost of 5%, and cryptocurrency-specific fees apply to withdrawals. For a complete list, see the official fee schedule for Bitstamp. If you have traded more than $10,000 in volume within the last 30 days, your fees will be lower. High-volume traders may see a 0% fee for volumes exceeding $20 billion. These fees can be incurred while financing and maintaining your account. These expenses could be incurred while financing and maintaining your account. Bitstamp now charges fees based on whether you are taking liquidity from the market (as an investor) or increasing it (as an operator). Particularly for modest volumes, Bitstamp’s pricing structure is more beneficial than some others.30-day volumeMakerTaker$0-$10000 percent0 percent$1,000 – $10,0000.30 percent0.40 percent$10,000 – $100,0000.20 percent0.30 percent$100,000 – $500,0000.10 percent0.20 percent$500,000 – $1.5 million0.08 percent0.18 percent$1.5 million – $5 million0.06 percent0.16 percent$5 million – $20 million0.03 percent0.12 percent$20 million – $50 million0.02 percent0.10 percent$50 million – $100 million0.01 percent0.08 percent$100 million – $250 million0 percent0.06 percent$250 million – $1 billion0 percent0.05 percent$1 billion or more0 percent0.03 percentStakingBitstamp is one of the few cryptocurrency exchanges that allow you to receive staking rewards on your holdings. As compensation for their support of the cryptocurrency, owners receive staking incentives. Staking is the act or placing your money on the line in order to verify transactions in a cryptocurrency. In exchange for committing your holdings, and taking on the associated risks, the exchange will pay you cash. The 15% charge is deducted and the net staking reward will be transferred to you. Contrary to other exchanges, the exchange clearly outlines the charges for you. While others may try to hide their expenses by charging a “little fee”, they will not charge you any. Customers from the United States can purchase them, with the exceptions of those in New York and Nevada. International wire transfers are free of charge and have a deposit fee of 0.05%. The minimum charge is 7.5 USD/EUR. Bitstamp allows you to purchase cryptocurrencies using a credit card. However, credit card purchases are subjected to a flat-rate fee of 5%. Mobile appBoth iOS and Android users can download the Bitstamp mobile app. The app has many functions that are available on the desktop, as well as a simple design. The Bitstamp app has received over 5,000 reviews, with an average rating 4.5/5. The software is easy to use and offers extra protection. Users highly recommend the app. The Bitstamp mobile app has received positive reviews on Google Play and the App Store. Both apps are compatible with both Android and iOS smartphones. Bitstamp’s mobile apps are small enough to fit in your pocket. Customers have left mixed reviews about the company. The main complaints are slow withdrawal times and poor customer service. You should expect to manage your account on your own. Bitstamp can be difficult to start with if you aren’t confident in managing your account or don’t have previous experience trading online. Bitstamp’s customer service is what makes it stand out in a highly competitive market. Bitstamp offers what is expected from cryptocurrency exchanges: a self help section on the website as well as a support ticket system and email. Bitstamp also offers phone support every day of the week which is rare among cryptocurrency exchanges. If you value the ability to speak with a support representative by phone, Bitstamp is worth considering. However, if you prefer text-based customer service, you might want to consider other options. Bitstamp doesn’t offer live chat support, but you can email support tickets. Your losses may not be recouvable due to the one-way nature crypto transactions. Bitstamp and any other cryptocurrency exchange requires you to use strong security measures, such as a password and multi-factor authentication, ideally using third party authenticator software. Bitstamp also keeps most customer cash in cold storage and follows strict security procedures. Bitstamp is a secure cryptocurrency platform that offers high security. The exchange keeps 98% of the assets in cold crypto storage offline. This type of crypto storage is the most secure because it protects money from hackers. Bitstamp offers additional security by offering theft insurance that covers daily trading. Its insurance covers theft if the exchange is compromised. However, it excludes your account if your login information has been compromised. Bitstamp also offers additional security measures such as address whitelisting, two-factor authentication (2FA), and address whitelisting to protect client assets and accounts. According to the 2FA, you must log in using your password and another form of authentication such as a code sent to your phone. You may choose which addresses can receive withdrawals from your account using address whitelisting.CompetitorsThere are several cryptocurrency exchanges, therefore, Bitstamp has stiff competition worldwide. There are not many exchanges that will accept fiat payments. Binance, for example, allows customers to buy a few cryptocurrency using money but does not offer trading pairs for fiat. Coinbase, on the other hand, offers trading pairs in fiat currency that customers can use to purchase cryptocurrencies. Coinbase has comparable prices and offers more trading pairs. Coinbase is located in the US, and must adhere to US federal and state laws. This is one of the issues that users have with the exchange. Bitstamp is an established exchange that has a reputation for professionalism, security, and reliability. Bitstamp is an established exchange that accepts a variety of cryptocurrencies. However, it offers EUR and USD trading pairs for all supported cryptocurrencies at very low costs. Bitstamp allows you to trade USD and EUR on all supported cryptocurrencies. It provides access to several well-known altcoins in addition to the top cryptocurrencies.This can be an excellent option if you’re searching for a user-friendly cryptocurrency exchange with reasonable costs or if you want to trade cryptocurrency on your computer and phone.Visit Bitstamp ExchangeDISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comHaroldCoincu NewsTags: #BitcoinBitstampBitstamp ReviewcryptoEthereum