Bitstamp Review 2019 – Everything You Should Know About Bitstamp

Bitstamp official logo

Overview

In operation since 2011, Bitstamp has been one of the oldest and most reputable cryptocurrency exchange platforms. The exchange is suitable for intermediate and experienced cryptocurrency traders who want to trade Bitcoin, altcoins, and fiat currencies. Bitstamp offers clients competitive fees to exchange digital currencies in large amounts. As the exchange was developed in Luxembourg and now has offices in London, the exchange is particularly popular with Europeans.

Bitstamp coin exchange platform

Currency Supported

Bitstamp focuses on the most established cryptocurrencies and offers pairs featuring Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash. These work with USD and EUR fiat currencies.

Bitstamp provides high liquidity in the cryptocurrencies but it is for all Euro pairs. If you are looking for another Fiat currencies that had a various range of altcoins, other cryptocurrency exchanges are recommended.

 

Payment Method

Bitstamp accepts payments via Bank Wire, Cryptocurrencies and Credit & Debit card. European clients can be accepted via the SEPA system easily. It is faster than the traditional bank transfers, however, the fees would be higher depending on the client’s bank.

 

Fee

Bitstamp offers lower fees than most crypto exchanges for both the depositing and withdrawing of funds, as well as the trading of crypto assets. When trading with low volume, however, the fees are similar to other exchanges. For high volume traders, the fee can be lower.

– Trading fee range from 0.1% to 0.25%.

– Deposit Fee

  1. Free for SEPA
  2. 0.05% for international wire

– Withdraw fee

  1. 0.9 EUR for SEPA
  2. 0.09%

Bitstamp Fee Schedule

 

Please check the below link for the detailed information.

https://www.bitstamp.net/fee_schedule/

 

 

Customer Support

Bitstamp provides an extensive FAQs section where you can find answers for your troublesome, or if you had a specific account question, you can use their ticket system.

It usually takes an hour or two.

Bitstamp Team member

The telephone support service is also available.

 

London: +44 20 3868 9628

North America: +1 646 568 9784

Luxembourg: +352 20 88 10 96

 

Security

Bitstamp has experienced a couple of hacks in 2014 and 2015. Since those hacks, Bitstamp has improved its safety & security system. Bitstamp now has top-tear security due to their implementation of advanced security technologies and they keep the majority of their crypto assets offline in cold storage. 2FA protects clients’ account safely from hacking.

 

 

Conclusion

Bitstamp offers a very simple buy and sell user interface combining with advanced trading tools. The exchange is regulated by the CSSF(Commission de Surveillance du Secteur Financier) in Luxembourg, that is great standards for funds security.

Bitstamp is one of the relatively few exchanges that accept buying of cryptocurrencies using debit and credit cards. On the other hand, Bitstamp supports only four cryptocurrencies and offers few alternative coins. The unusual fees are applied to traders’ accounts as well.

Overall, Bitstamp is a good choice for traders located in Europe.

 

Pros

– Accepts Bank Wire, Credit, Debit Cards

– Competitive fees

– Regulated by the CSSF

– 98% of coins are kept in cold storage

– Telephone support

 

Cons

– Few altcoins

– Hacked in 2014 and 2015

– 5% fee on credit card purchases

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