This post is a detailed review of Bitstamp, a cryptocurrency exchange that makes trading easy.
At Bitstamp, both intermediate and experienced traders have no trouble opening and closing trades.
Also, large volume trading is obtainable on this platform with convenient payment options.
Over the years, the founding team has consistently improved its platform to serve users better.
As you read on, you’ll learn more about Bitstamp, its features, services, fees, and more.
Are you ready? Let’s get started!
Post Summary
This review is grouped under the following subheadings:
- Bitstamp Overview
- Features Of Bitstamp
- Bitstamp’s Products & Services
- Supported Countries & Currencies
- Payment Methods & Transaction Fees
- Transaction Limits & Verification Requirements
- Customer Support & Public Opinion
- How To Trade On Bitstamp
- FAQs
- Conclusion
Click on any item above to read its details right away.
Happy reading!
1. Bitstamp Overview
Bitstamp is a cryptocurrency exchange founded by Nejc Kodrič and Damijan Merlak in 2011.
It has physical offices at Slovenia, the U.K., Luxembourg, London, and New York.
As mentioned, this platform makes trading easy for everyone, whether newbie or pro.
Users can trade between fiat currency, bitcoin and other cryptocurrency.
There are about 45 currency pairs available.
Moreover, the platform has other tools that facilitate trading, which you will find out as you read on.
Next, I’ll show you the features of Bitstamp.
Keep reading!
2. Features Of Bitstamp
- Trading charts
- Mobile App
- Wallet
- Institutions & Partners
- Pro Traders
- Lightning network
- Careers
Let’s see the products and services offered by Bitstamp.
Tag along!
3. Bitstamp’s Products & Services
Services provided by this platform include:
a. Trading
The major service provided by Bitstamp is trading. Users have 45 trading pairs to pick from.
Later in this post, I explained how you can trade on this platform (make sure to read to the end).
b. Crypto-as-a-service
Here, Bitstamp enables financial institutions to provide crypto exchange services on their apps and platforms.
Learn more about this service here.
4. Supported Countries & Currencies
Countries
All
Currencies
Crypto
Fiat
- USD
- EUR
- GBP
In the next section, you will find the payment methods and fees charged by Bitstamp.
Read on!
5. Payment Methods & Transaction Fees
Payment methods
- Bank transfer
- Cryptocurrency
- Credit/debit card
- SEPA
Transaction Fees
Trading fees are charged based on total trading volume over the past 30 days. Find more details below:
| Fee % | 30 days USD volume |
| 0.50% | < $10,000 |
| 0.25% | < $20,000 |
| 0.24% | < $100,000 |
| 0.22% | < $200,000 |
| 0.20% | < $400,000 |
| 0.15% | < $600,000 |
| 0.14% | < $1,000,000 |
| 0.13% | < $2,000,000 |
| 0.12% | < $4,000,000 |
| 0.11% | < $20,000,000 |
| 0.10% | < $50,000,000 |
| 0.07% | < $100,000,000 |
| 0.05% | < $500,000,000 |
| 0.03% | < $2,000,000,000 |
| 0.01% | > $10,000,000,000 |
Deposit & Withdrawal Fees
| Payment method | Deposit | Withdrawal |
| SEPA | NIL | 3.00 EUR |
| ACH | NIL | NIL |
| Int’l Wire | 0.05% | 0.1% |
For Crypto trading, there are no deposit charges. The withdrawal fees are as follows:
| Crypto | Fees (units) |
| BTC | 0.0005 |
| XRP | 0.02 |
| LTC | 0.001 |
| ETH | 0.04 |
| BCH | 0.0001 |
| XLM | 0.005 |
| PAX | 3 |
| LINK | 0.25 |
| OMG | 0.75 |
| USDC | 13 |
Then for Card purchase, users are charged 5% of any amount of asset they wish to buy.
You will find further information on fee rounding, non-standard processing, and bank exchange rates here.
Next, we’ll look at the limits of transaction.
Keep reading!
6. Transaction Limits & Verification Requirements
Limits
| Base currency | Min trade amount (units) |
| USD/EUR/GBP/PAX/USDC | 25 |
| BTC | 0.001 |
| ETH | 0.02 |
Verification Requirements
Bitstamp requests users to verify their accounts before they commence transactions on the platform.
To verify your account, you’ll need:
- A government-issued ID e.g. driver’s license, passport, national ID
- Utility bills or bank statements to prove your address.
7. Customer Support & Public Opinion
Bitstamp has an FAQ session where users can find answers to their query.
Also, users can reach the admins through any of these channels:
- info@bitstamp.net
- press@bitstamp.net
- support@bitstamp.net
- complaints@bitstamp.net
- +44 20 3868 9628
- +1 646 568 9784
- +352 20 88 10 96
- Visit a physical office
I checked Bitstamp on TrustPilot and it had a poor rating with 362 reviews. 60% of the reviews were negative.
However, WebOfTrust considers Bitstamp safe to use with a 4.5/5 rating and 6 reviews.
Also, on SCAMADVISER, the platform has a 100% trust score.
Judging from these results, Bitstamp has to work on improving users’ experience with the platform.
Moving on, I’ll show you how to trade on Bitstamp.
Tag along!
8. How To Trade on Bitstamp
a. First, you have to register. Visit Bitstamp.net and click on ‘get started’ on the homepage.
b. Choose your preferred account: personal or corporate
c. Complete the fields that will pop up and hit ‘continue’
d. Check your inbox and click on the link sent to you to confirm your email
e. After that, you’ll be re-directed to set your password.
f. Now, it’s time to verify your account. Follow the instructions provided to upload your documents and the required info.
g. Once your account has been verified, you will be notified via email. At this point, you can proceed to your dashboard to start trading.
h. From your dashboard, click on ‘deposit’ to fund your Bitstamp wallet.
i. Next, you click on ‘buy/sell’.
j. Now, choose a trading pair and place an order.
k. Input the quantity and price you are willing to buy.
l. Once your transaction is processed, you’ll find your newly purchased asset in your Bitstamp wallet. Bravo!
PS. If you don’t understand what I mean by ‘place an order’, you can enroll in our CTmastery course to learn how to trade like a pro. You can also join our Telegram community at https://t.me/ctmastery.
FAQs
I have reasons to believe that Bitstamp is a safe platform including:
– The founders are known
– It has physical offices in different countries
– Bitstamp is licensed by the Luxembourg government
– The platform stores users’ funds in a cold-wallet and insured by BitGo, Amazon web services fund, and FDIC.
Nevertheless, this is just my opinion. Ensure you DYOR before investing your money.
Yes. You can use Bitstamp from the app without having to log in on the web page.
No. You can only open one account for personal transactions.
However, Bitstamp has an option for a corporate account. You can opt for that if you are opening the account on behalf of your company.
Conclusion
Bitstamp is a good start for young traders. It provides relevant services and the platform is easy to use.
We have now come to the end of this review. I hope you enjoyed the read.
Now I’d love to hear from you:
Would you trade on Bitstamp?
Or, are you already a user of the platform? What has been your experience?
Also, what other currencies would you like to be added on the platform?
Let me hear your thoughts in the comments section right now.
Afterward, don’t forget to share this post with your friends, ciao!
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