Table of content:
- Bitstamp overview – what is Bitstamp?
- Bitstamp alternatives
- Bitstamp pros and Cons
- Cryptocurrencies on Bitstamp
- BitstampFees & Commissions
- Conclusion about Bitstamp
- FAQ about Bitstamp
Laughter may be the best investment, as the famous saying goes, however, since cryptocurrency trading is like Dungeons and Dragons, which is renowned but only some understand, you want to tread carefully.
To help you buy and sell at a suitable exchange and avoid finding yourself on a crypto night, this Bitstamp review examines the details of its features, trading experience, and available cryptos.
Bitstamp Overview
Bitstamp was founded in 2011 and is headquartered in Slovenia. The crypto exchange has other offices in the US, the UK, Singapore and Luxemburg. While it offers an advanced mode for expert traders, the exchange is well-suited for beginners even though it lacks diversified offerings like margin trading.
The exchange has a global presence and is supported by over 500 employees. Thanks to its advanced trading tools, intuitive trading interface, and affordable fee structure, Bitstamp remains popular among users. It supports over 80 cryptocurrencies and several stablecoins like EURT, USDT, and USDC. A general Bitstamp exchange overview shows that one of its most unique features is the attractive commission policy, which enables high-volume traders to transact without paying commissions.
Bitstamp Alternatives
To appreciate the best of Bitstamp features, it’s good to research some alternatives, including their ease of use and reliability. The following are among Bitstamp’s leading competitors and options:
Huobi
Huobi Global is a leading crypto exchange provider that allows investors to buy, sell, and trade over 700 cryptocurrencies. The platform describes itself as an all-in-one solution for everything crypto, offering various payment methods besides supporting several fiat currencies. The exchange’s competitive 0.2% trading fees have made it popular among users.
Read More on Huobi: Huobi Review – Full Overview of Huobi Crypto Exchange
The platform is renowned for attracting experienced international traders thanks to its feature-rich platform, which can overwhelm newbies. Huobi Global’s trading system enables customers to imitate successful positions used by expert traders, including win rate, stop/loss, etc. While this copy trading doesn’t automatically guarantee profit-making, Huobi uses it to incentivize users to perform well since they get a percentage of the profits.
Binance
With over 120 million registered users globally, Binance remains the leading cryptocurrency exchange worldwide by trade volume. The platform was founded in 2017 by Changpeng Zhao and quickly became popular in the crypto space thanks to its low fees, intuitive user fees, and ease of use, especially for beginners.
Read More on Binance: Binance Review 2023 – Full overview of Binance crypto exchange
Binance offers an extensive range of products and features with its deep liquidity on the over 350 crypto assets it supports. That exchange is regulated in at least 20 countries besides being available in over 150 others globally while supporting numerous fiat currencies and supporting methods. Besides offering access to leading cryptocurrencies like Bitcoin, Ethereum, Binance Coin, Litecoin, and many more, users can avail themselves of different markets like derivatives trading, spot trading, margin trading, and options trading.
Crypto.com
Crypto.com was founded in 2016 and an interesting user interface divided into beginner and advanced versions. They offer numerous features for both groups with the advanced feature-rich serving experts. The platform’s app is ideal for newbies who wish to learn how to buy, sell and trade cryptocurrencies using credit/debit cards while on the move. Crypto.com’s intuitive, user-friendly platform makes it suitable for all and easy to use.
Read More on Crypto.com: Crypto.com Review 2023 – Full overview of Crypto.com crypto exchange
Among the benefits of using Crypto.com is the ability for users to earn interest on their crypto assets. Users who hold their assets within Crypto.com can earn up to 12.5% annually on cryptocurrencies and 6.5% on stablecoins. The exchange pays interest weekly on their Crypto.com Earn program in the coin deposited.
Bitstamp Features
Among the main Bitstamp features include the following:
Bitstamp Earn: Users who wish to earn rewards through crypto staking can avail themselves of the Bitstamp Earn service, which offers a reasonable APY. The platform provides locked staking for Ethereum at 4.5%, while ALGO staking offers a flexible 1.60%.
OTC Institutional Services: The exchange offers enterprise-level investors access to a 24/7 Bitstamp customer support desk with dedicated account managers and an institutional trade desk. Institutional investors can enjoy deep liquidity and API connectivity, making it ideal for enterprise investors, fintech companies, and hedge fund managers.
Learn Center: For anyone new to Bitstamp cryptocurrency trading, there’s a crypto educational center whose team has created a comprehensive compilation of materials with topics ranging from “how to send bitcoins” to advanced ones like “how to understand technical indicators.”
Bitstamp Mobile App: The exchange offers an intuitive mobile app for Android and IOS devices, enabling users to enjoy Bitstamp cryptocurrency trading while on the go. The well-designed app provides complete functionality of the web platform.
Bitstamp Pros and Cons
The following is a list of Bitstamp pros and cons:
Pros
Simple and Intuitive: Bitstamp’s platform is easy to use by beginners meaning it’s good for people planning their first investment.
Free trading: Users don’t pay fees for the first $1,000 monthly transactions.
Educational resources: Bitstamp Learning Center offers detailed educational resources with plenty of information on various topics, especially for beginners.
Cons
High card fees: The option to pay by credit/debit card attracts 4% transaction fees, which heavily impacts usability.
A limited number of cryptos: The number of tradable cryptocurrencies is fixed, meaning users can’t access lesser-known coins.
Limited markets: The platform doesn’t offer margin, leverage, or derivatives trading, making it unsuitable for people looking for advanced trading methods.
| Pros | Cons |
| Easy to use | Missing some major cryptocurrencies |
| Competitive trading fees | Bad reputation following 2015 hack |
| Beginner and advanced platforms | Complicated verification process |
| Crypto staking available | Cannot withdraw fiat funds to e-wallets |
| Mobile app available | Leverage only 1:1 |
Cryptocurrencies on Bitstamp
While the Bitstamp-supported cryptocurrencies are reasonable at over 80, other exchanges like Kraken, Binance, or KuCoin easily overshadow it with hundreds of crypto offerings. However, users can trade in over 175 markets, surpassing other leading platforms like Gemini. The supported cryptocurrencies include Bitcoin, Ether, Uniswap, Stellar Lumens, Tether, USD Coin, Litecoin, Chainlink, Bitcoin Cash, Gemini Dollar, and XRP, which isn’t available in the U.S.
Bitstamp Fees & Commissions
Bitstamp fees and commissions are based on a maker/taker fee structure where high-frequency users get rewarded with lower costs. Surprisingly, users trading less than $1,000 monthly enjoy fee-free trading, making it ideal for beginners.
The exchange doesn’t offer discounts or incentives for high-volume traders without a platform token. Competitors like Binance provide up to 25% discounts on fees for holders of its native BNB token.
Moreover, Bitstamp doesn’t charge a deposit fee for fiat or crypto payments. Nonetheless, different Bitstamp deposit and withdrawal methods attract additional fees, and a 4% fee applies for credit/debit card transactions.
Generally, most crypto-based withdrawals are priced reasonably, even though some assets attract slightly higher fees. A good example is the USDT and USDC, where a 2% fee of the respective token applies for withdrawals.
| Payment Method | Bitstamp fee |
| USD Wallet | No additional charge |
| Debit/Credit Card | 4% |
| SEPA | Deposits not charged, 3EUR charged on withdrawals |
| ACH Transfer | No charge |
| Wire transfer | Deposits charges at 0.05% and withdrawals at 0.1% |
| Crypto conversion | Charges applicable when withdrawing to an external wallet |
Conclusion
Given a Bitstamp exchange overview, it seems clear that the platform is a good place for anyone interested in crypto investment, considering its competitive fees and deep liquidity. The exchange offers state-of-the-art trading tools that are also dedicated to spot trading.
Unlike other platforms playing in the same league, Bitstamp scores low for the lack of popular options like leverage and margin trade functionality. However, offering separate basic and advanced trade interfaces and a fully loaded educational center is a plus.
FAQ about Bitstamp
Can I Use Bitstamp in the U.S.?
Yes, you can use Bitstamp in the U.S. Nonetheless, US users can only trade Bitcoin using debit/credit cards.
Which countries does Bitstamp support?
Bitstamp is available in all E.U. member states, but you require additional verification in some supported jurisdictions. Other supported countries include Switzerland, Norway, Monaco, Montenegro, Serbia, Turkey, Andorra, Moldova, Gibraltar, Iceland, and many others.
How long does Bitstamp take to deposit?
Bank transfers take up to 5 days, excluding weekends. However, deposits made currencies other than USD, GBP, or EUR must first be converted before being credited to your account.
How long does Bitstamp take to withdraw funds?
Withdrawals typically take 1 to 2 business days, or 3 to 5 business days for but international transfers.
Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort, HODL FM strongly recommends contacting a qualified industry professional.
