2023 Bitstamp Review Crypto Exchange + Wallet

Additionally, unlike competitors such as Binance and Kucoin, Bitstamp offers limited staking rewards which limit the ability of users to earn rewards. Bitstamp offers an easy-to-use interface that helps in simplifying the functionalities of the software. They can fund their account through different ways like credit or debit card, bank transfers, etc. Bitstamp is one of the better cryptocurrency exchanges in terms of trading fees. It has a straightforward fee structure, in which your trading fees are based on your 30-day trading volume.

• This will cut your losses and prevent you from incurring further losses.
• US-based investors, however, cannot stake crypto on Bitstamp.
• Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy.
• All in, Bitstamp offers a competitive service at competitive rates.

Bitstamp features mobile apps for Android and iOS devices available in the Google Play Store and App Store. Its apps include all of the features you get with the primary Bitstamp web-based trading experience for a pocket-sized trading experience. bitstamp review Investing in cryptocurrencies, Decentralized Finance , and other Initial Coin Offerings is highly risky and speculative, and the markets can be extremely volatile. Consult with a qualified professional before making any financial decisions.

Bitstamp vs Coinbase

However, those in the USA can use a separate platform called Bitstamp USA. Bitstamp is a very secure site so if you value security and safety then this should be your exchange of choice. However, the company has a separate branch called Bitstamp USA that can operate in the virtual currency business in New York. American users can deposit on Bitstamp US using the ACH deposit route.

On February 24, the exchange suspended all trading, and the site was taken offline. By the time it was shut down, approximately 80% of all bitcoin in existence had gone through Silk Road at some point. Both governments and the public saw that digital currencies can be used as a valid means of exchange and started taking crypto seriously. Ulbricht believed that people have the right to freely offer goods and services in the open market. Like many libertarians, Ulbricht viewed drug use as a personal choice and thought that legalizing drugs would result in a higher quality product which would protect users.

These include brokers, fintech companies, neo banks, hedge funds, banks, proprietary traders, aggregators, and family offices. Bitstamp also allows instant purchases on cryptocurrencies. Plus, it says you can deposit or withdraw from any location in the world, and US customers can make free instant deposits through ACH transfers.

Bitstamp regulation and safety – how safe is the exchange?

Users can buy BTC, Bitcoin Cash, ETH, and other crypto assets via bank cards. It also offers a convenient app where it works on Android devices and iOs devices as well, making it easier for traders to buy and sell crypto. These accounts enable traders to test out trading strategies without needing to invest a single penny.

It’s already a veteran exchange and has provided a reliable way to perform fiat-to-crypto exchanges since 2011. Exchanges were reviewed on points including security, fees, number of cryptocurrencies available, and more. We also considered if the exchange is regulated by a proper agency or entirely decentralized. Our full cryptocurrency exchange methodology, including the review process and weighted data points, is available for review.

Bitstamp’s greatest strength is its security and simplicity when it comes to buying and selling crypto. As the first crypto exchange in Europe, and one of the oldest exchanges around, it has truly become one of the most trusted and reputable exchanges in the world. Image via BitstampI do like to highlight anytime a platform goes out of its way to provide fantastic crypto education. When writing these reviews, I like to thoroughly test out the support team by contacting them multiple times over the span of a few days.

I have already discussed with my lawyer and we have this possibility, considering that the money was deposited from my bank account to my bitstamp account and you retain it without any right. The Bitstamp mobile app claims to offer unlimited access and a seamless experience to users. https://forex-review.net/ With a user-friendly interface, trading on the go using Bitstamp app is hassle-free. 81% of retail investor accounts lose money when trading CFDs with this provider. Bitstamp, on the other hand, has an easy-to-use platform suitable for both beginners and experienced traders.

In terms of platform security, it ranks in the 13th place out of 159 rated exchanges and scores an above-average score of 13.2 out of 20 . Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy.

Binance is popular amongst experienced traders looking to access advanced technical features. It is not quite suitable for new traders as the interface is a little complex to comprehend. Bitstamp Earn allows users to earn cryptocurrency rewards through staking. They can earn more cryptos as rewards by locking up their assets on the blockchain. Deposits from joint bank accounts, sole proprietor business accounts, and payment processors are also accepted but may require users to provide additional information. Bitstamp has a simple, user-friendly, and easy-to-use platform that can be used to buy and sell cryptocurrencies in a hassle-free manner.

Customer Satisfaction

It is always advised to move money from the exchange to a wallet. Bitstamp was hacked back in 2015 in a phishing scheme that led to the loss of about 19,000 BTC worth $5 million at the time. The exchange was able to reimburse the users for their losses however the users didn’t feel quite as secure anymore. Trading Futures and Options on Futures involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources.

Explore Bitstamp’s top competitors to learn more about Bitstamp compared to other major cryptocurrency exchanges. Like most crypto exchanges, Bitstamp receives mixed feedback from current and past users. This is expected as different types of users value and demands different types of features. Complaints surrounding Bitstamp primarily revolve around slow withdrawal times, poor customer service interactions and a lack of advanced trading functionality. Bitsamp offers crypto-to-fiat and crypto-to-crypto exchange services, and supports over 50 available cryptocurrencies including BTC, Ether and others.

One of the great fear in crypto payment is transfer to private wallets. Biometric to log in, 2-step timed Google authicator for the withdrawal and finally an email confirmation to finalize the transaction. I got technical support on a weekend with the issue resolved in less than 6 hours. If you are looking to keep your money safe or even send your crypto as and when you please or just want access to your money don’t even bother. Since last week they’ve stopped me trading or withdrawing any crypto.

Credit card purchases come with a 5% fee plus a percentage charged by your card provider. One slight weakness in Bitstamp’s usability, however, is that users can’t make any trades or deposits without first verifying their accounts. Verification can take a day or two, and even up to two weeks during busy periods. Also, it requires the user to share quite a bit of sensitive info, including passport details and utility bills or bank statements. As such, you should set up your Bitstamp account in advance before making a quick purchase.

Furthermore, Bitstamp doesn’t have a good rating on CER.live. This site gives a score of BB while the highest ranking is AAA which means according to the Bitstamp review, it doesn’t hold a top spot among the top-rated 50 crypto exchanges. For trading, users have to pay up to 0.25% so for example if one is to trade $1000 worth of crypto, they would have to pay $20.50. If professional traders trade more than $20 million in one month, the fee will go down to 0.10% which makes the fees quite high compared to other competitors.

A sell limit order gets executed only at the specified price by the trader or at a higher price. This way, a limit order enables a trader to get a better price for his trades. However, some of the options are not available in certain regions. Set a price at which you would prefer to buy or sell a specific cryptocurrency. Offers major cryptocurrencies and access to popular altcoins. I had issues when sending money from a joint account, but their support team always responded very well within 12hrs or so and helped me through the process.

Supported Countries

The Tradeview looks slightly more complicated than the “Buy / Sell” section, but essentially it provides the same key features and is actually pretty easy to use even for absolute beginners. Advanced traders might enjoy Bitstamp’s Tradeview, where you can see full order books, TradingView charts, place advanced orders, and review your order execution history. According to the latest Exchange Benchmark report by CryptoCompare, Bitstamp exchange ranks 5th in terms of overall exchange quality.

I am a bit torn on how to rate them in this category as Bitstamp offers phone support, which is amazing! You can actually phone them up and speak to a real human, and not just any human, a team that actually knows about crypto and understands the platform. They can also be contacted via email, which is standard, but where I am torn is that they don’t offer chat support which is a bummer. Bonus points for phone support, minus points for no chat support. Aside from the charting block itself, the trading interface is not customizable like some platforms.