Bitstamp exchange

Bitstamp is rated as one of the most reliable cryptocurrency exchanges with a relatively low transaction fee.

This trading platform is more suitable for intermediate users (who have used other exchanges) to professional investors with larger capital, this trading platform can be quite complicated for new participants. Join this market a little bit.

General information about Bitstamp

Crypto exchange
Type of website	Exchange cryptocurrencies
User friendly	Is not
Mobile application	Yes
Headquarters	Luxembourg, Luxembourg; Slovenia
Debut year	2011
Deposit method	Bank transfer, credit card, electronic money
Method of withdrawal	Bank transfer, electronic money
Support of cryptocurrencies	Bitcoin, Litecoin, Ethereum, Bitcoin Cash and Ripple
Judging from the community	Good
Security	Good
Charges	Short
Customer support	OK
Webpage	Access Bitstamp

Bitstamp is one of the oldest Bitcoin exchanges and it has been there since 2011. Currently, Bitstamp only focuses on some popular cryptocurrencies like Bitcoin, Bitcoin Cash, Ethererum and Ripple to improve the quality. his service more.

The only thing that is preventing the development of Bitstamp is that the exchange's user interface is not as intuitive as other competitors as well as the limitations of cryptocurrencies (however few but serve well). much more but poor service).

If you are a trader, a major investor in the cryptocurrency market, Bitstamp will be a great place for you. (Please use bank transfer to limit the maximum transaction costs!)

Overview of Bitstamp

Bitstamp was originally founded as a trading platform based in Europe and replacing Mt. Gox, this was considered the most popular cryptocurrency exchange at the time.

If you are not aware of Mt. Gox, it is a large exchange based in Tokyo, handling about 70% of all bitcoin transactions at a time. The story of Mt. Gox ended with the disappearance of 850,000 bitcoins (worth $ 450 million at the time).

Bitstamp, based in Luxembourg, allows transactions between USD and EUR with several cryptocurrencies such as Bitcoin, Litecoin, Ethereum, Bitcoin Cash and Ripple. As a European-based cryptocurrency exchange, Bitstamp seems to be the top choice for many European cryptocurrency investors. This exchange is quite convenient for European users to deposit and withdraw Euros. Bitstamp also provides its API to allow users to create custom software to access and use their accounts (professional traders often use to manage their accounts).

Public opinion

Positive: A lot of users have positive comments about the transaction fee of 0.25% lower. Europeans prefer to use Bitstamp because they can send Euros through SEPA for free. You also do not have to pay transaction fees when withdrawing BTC. There are also many customers who think that Bitstamp is doing well in other exchanges in customer support, but if they improve further on the processing speed, it will be highly appreciated. In addition, Bitstamp is licensed so it is safer for you to trade here.

Negative: It is more expensive to send money via credit card (at any exchange that supports credit cards). Therefore, you should refrain from using your credit card to make transactions. The verification process can be quite time-consuming (something that every cryptocurrency exchange sees). The number of cryptocurrencies supported on Bitstamp is quite limited (BTC, LTC, ETH, BCH and XRP) compared to other major exchanges. One thing that annoys many investors is the fact that European banks do not allow transactions with Bitcoin related companies. This is not Bitstamp's fault, but it affects quite a lot of investors on this exchange.

Is Bitstamp really safe?

Assessing whether a cryptocurrency exchange is safe or not is really difficult because no one can predict what will happen. Previously, Bitstamp had to suspend withdrawals for a few days (in February 2014) because hackers had made DDoS attacks and this group of hackers sent a request to CEO Nejc Kodrič for a ransom. However, Kodrič rejected the request on the grounds that his company would not negotiate with terrorists. Shortly after returning to service and normal operation, Bitstamp had to stop its services for a week after being hacked 19,000 Bitcoins in January 2015. publicized and took away 850,000 Bitcoins (the equivalent of $ 450 million at the time, now it is about $ 4.6 billion).

But you may realize that with security threats coming a new wave of security improvements, the security measures for users' assets are being heavily invested. Since the hacker attack in 2015, things seem to have gotten a lot smoother with Bitstamp. Currently, the exchange holds about 98% of its cryptocurrency in cold wallets and keeps customer assets (money, cryptocurrencies) hidden in a secure wallet. The rest is kept for direct trading via the exchange.

is one of the safest online exchanges.

Bitstamp has set new standards for best practices for cold wallets, two-factor authentication (2FA) and email verification as mandatory requirements. Bitstamp also provides users with email and SMS notifications to monitor accounts for suspicious activity. The exchange also uses PGP (Pretty Good Privacy) data encryption to authenticate all uploaded files.

Transaction fees on Bitstamp

Bitstamp trading fees vary according to the investor's 30-day trading volume (read more here ). When using SEPA, customers who deposit funds into Bitstamp accounts will not be charged, however when withdrawing you will be charged 0.9 EUR.

With bank transfer (international) has a fee of 0.05% with a minimum of 7.50 USD / EUR and you will also have to take 2-5 days. Withdrawals by international bank transfer will have a fee of 0.09% with a minimum of USD 15.00 / EUR. Details you can see more here !

As you can see, Bitstamp will be a better choice for traders with large trading volumes, so please note how much you intend to invest to calculate, choose the broker for suitable offline.

One thing worth noting from Bitstamp platform is that you will not have to pay transaction fees when withdrawing BTC. This is extremely useful if you regularly trade with Bitcoin, which will be a small fee!

Customer support

It seems that the difference between cryptocurrency exchanges now lies only in customer support, if the customer support is good it will really boost the cryptocurrency exchanges. As for Bitstamp's customer support service, there are still mixed opinions, some claim that their request is processed in an hour or two, but there are some who think that they have received feedback all week. anise. It is difficult to evaluate, so it is best to use and feel.

Summary

Overall, Bitstamp is a pretty good option for more professional traders, especially those living in the European region.

If you're new to the cryptocurrency market, Bitstamp may not be the best option for you. Small transaction fees on Bitstamp will become more, look to the exchanges with simpler interface, easier to understand to access the electronic convenience market.

Be sure to read through Bitstamp's policies and fees before creating an account and see some instructions on how to use this broker.