Comparison of Bitstamp vs Simpleswap [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bitstamp vs Simpleswap comparison!

Your expert: Alejandro Borja

Bitstamp

Your expert: Xavier Tarrasó

Simpleswap

Main points

Fees

≤0,30%

Earns

Yes

Customer service

4/5

≈ 1,20%/2%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.1 – Reasonable fees with discounts for high-volume trading.

4.0 – Competitive fees with a focus on instant crypto swaps.

Level

≤0,30%

≈ 1,20%/2%

Brief explanation

Bitstamp structures its commission fees to accommodate both high-volume traders and casual users effectively. The platform utilizes a tiered pricing model based on the 30-day trading volume, making it highly competitive within the cryptocurrency exchange market. For lower volumes, the fees start at 0.50% per trade and can decrease to as low as 0.0% for substantial trading volumes, making it especially attractive to frequent traders. This fee structure not only enhances trading flexibility but also encourages more significant trading activity by reducing costs as users climb the tiers.

SimpleSwap’s commission structure is streamlined to cater primarily to crypto-to-crypto transactions. It charges a variable fee for each transaction, which typically ranges from 0.1% to 0.5% depending on the specific cryptocurrencies involved and market conditions. This fee is integrated into the exchange rate displayed at the time of the transaction, ensuring transparency. The platform does not impose additional fees for deposits or withdrawals in cryptocurrencies, which is a significant advantage for users looking to minimize costs. However, users should be aware of network fees determined by the blockchain of the cryptocurrency being used, which are not controlled by SimpleSwap but are necessary for processing the transactions on the respective networks.

Bitstamp

Year Founded: Bitstamp's establishment in 2011 makes it one of the oldest cryptocurrency exchanges in operation, demonstrating long-term industry resilience and reliability. This longevity supports trust as it indicates sustained compliance with regulatory changes and evolving market dynamics over more than a decade.
Security Methods: Bitstamp employs robust security measures including multi-sig technology, cold storage of assets, and comprehensive hot wallet insurance. These practices significantly reduce the risk of theft and fraud, ensuring a secure trading environment for users' funds.
Regulation: Bitstamp was one of the first cryptocurrency exchanges to be licensed in Europe, receiving approval as a fully regulated payment institution in Luxembourg. This regulatory oversight assures users of Bitstamp’s commitment to adhering to strict financial and legal standards, enhancing its trustworthiness.
Reputation and Reviews: Over the years, Bitstamp has maintained a strong reputation for reliability and integrity. Positive reviews often highlight its user-friendly platform and responsive customer service, bolstering confidence among both new and experienced traders in the cryptocurrency community.
Trading Volume and Liquidity: Bitstamp consistently ranks among the top exchanges in terms of trading volume and liquidity. This not only ensures that users can execute trades quickly and at desired prices but also indicates a healthy and active trading environment supported by a large user base.

Simpleswap

Security Methods: SimpleSwap ensures security by utilizing standard encryption protocols and security measures, safeguarding user transactions and data from unauthorized access.
Number of Cryptocurrencies: Supporting over 300 cryptocurrencies, SimpleSwap provides a diverse and extensive range of trading options, which speaks to its robustness and adaptability in the dynamic crypto market.
Trading Volume and Liquidity: Although specific numbers on trading volume aren't disclosed, the variety of cryptocurrencies supported and the platform's ability to fulfill swap requests promptly suggest a healthy level of liquidity.
Customer Service: SimpleSwap offers reliable customer support, which is crucial for user trust. Their support is accessible and designed to assist users with any issues or questions they may encounter.
Reputation and Reviews: The platform has gained positive reviews from users for its ease of use and efficiency. These testimonials build credibility and trust among potential and existing users, highlighting SimpleSwap's commitment to user satisfaction.

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Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

Bitstamp Ltd.

SimpleSwap Ltd

Regulation

Regulated in Luxemburgo

Not regulated

Year founded

2011

2018

Founder

Nejc Kodrič, Damijan Merlak

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitstamp	FEATURES	Simpleswap
Bitstamp allows users to start trading with a relatively low minimum, accommodating small-scale traders effectively.	Minimum Trade	SimpleSwap supports flexible trading with no minimum deposit, making it accessible for casual users and beginners to start trading with any amount.
Bitstamp’s fee structure is competitive but not the lowest in the market, balancing fairness with service quality.	Trading and Transaction Fees	The platform operates with a straightforward fee structure but lacks the transparency of detailed fee breakdowns that might benefit users looking for cost efficiency.
Bitstamp supports a robust selection of popular cryptocurrencies, catering well to both mainstream and niche market participants.	Number of Cryptocurrencies	Offers a wide variety of over 300 cryptocurrencies, providing users with extensive options for trading different digital assets.
The platform offers a solid range of crypto-to-crypto trading pairs, providing good options for diverse trading strategies.	Crypto-to-Crypto Trading Pairs	Supports numerous trading pairs, allowing for versatile crypto-to-crypto exchanges, though it could expand into more niche or emerging cryptocurrencies.
Bitstamp is known for its clear, user-friendly website that provides extensive information on fees, policies, and trading options.	Website Transparency	While the website is user-friendly, it could improve by providing more detailed information about the company’s background and operational logistics.
Bitstamp lacks a branded exchange card, which limits its versatility for users seeking integrated payment solutions for everyday purchases.	Credit/Debit Card	SimpleSwap focuses solely on cryptocurrency exchanges and does not provide additional financial tools like an exchange card, limiting its utility for everyday transactions.
Bitstamp offers secure storage options including cold storage, ensuring high security for user funds against potential cyber threats.	Storage Offering	Provides secure storage options, though detailed information on security measures and storage capabilities could be more transparent.
Currently, Bitstamp does not offer staking services or rewards, which limits opportunities for earning through investment holding.	Staking and Rewards	Limited staking options and rewards are available, which could be enhanced to attract long-term investors.
Both Bitstamp’s mobile app and desktop platform are highly intuitive and reliable, though some users desire additional features.	Mobile App and Desktop	Offers a functional mobile app that is efficient and convenient for trading on the go, although further enhancements could improve user experience and features.
Bitstamp provides dependable customer service, but response times can vary, especially during high demand periods.	Customer Service	Generally receives positive feedback for customer service, but could benefit from extended support hours and faster response times.
Deposits and withdrawals are handled efficiently on Bitstamp with support for multiple payment methods, though some fees may apply.	Deposit and Withdraw	Crypto deposits and withdrawals are supported, but the addition of fiat options and reduction of withdrawal fees would improve this feature.

Key features

Analysis tools

Basic charting tools, technical indicators

No trading tools, primarily a swap service

Mobile APP

Security

High 4,9/5

High 4,5/5

Additional features

Institutional services, staking, Bitstamp Earn program, fiat on/off ramps

Instant crypto swaps, SimpleSwap Earn, loyalty program

Anonymity

Yes

Key points

Available cryptocurrencies

30+

300+

User-friendliness

Bitstamp features a clean and intuitive interface that is easy for beginners to use. The platform is designed to provide a seamless trading experience, making it easy to buy and sell cryptocurrencies.

SimpleSwap features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

Value for money

Offers good value for money with competitive fees and a reliable trading platform, suitable for both retail and institutional traders.

Delivers good value for money with competitive fees and a straightforward swapping service, making it an easy option for quick trades.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Ideal for both retail and institutional traders seeking a reliable exchange with competitive fees and a strong reputation.

Best for traders looking for a straightforward and quick cryptocurrency swapping service with competitive fees.

Base currencies available

USD, EUR, GBP, BTC

BTC, ETH (varies by transaction)

Account

Trading

Bitstamp is one of the oldest and most reputable exchanges, offering high security and a straightforward trading platform. It supports a decent range of cryptocurrencies but has higher fees compared to some newer exchanges.

SimpleSwap is a non-custodial exchange known for its fast and anonymous transactions. It offers a wide range of cryptocurrencies but lacks advanced trading features and tools.

Deposit and withdrawal

Bitstamp offers a variety of deposit and withdrawal options, including bank transfers, credit/debit cards, and crypto deposits. Withdrawals are processed quickly, with competitive fees.

SimpleSwap is a non-custodial exchange known for its fast transactions. It supports various deposit methods, and withdrawals are processed quickly with low fees.

Account opening process

Bitstamp offers a seamless account opening process. Users need to submit personal information and verify their identity. The process is fully digital and usually completed within a day, making it efficient and user-friendly.

SimpleSwap offers an easy and quick account registration process. Users need to submit personal details and verify their identity. The process is fully digital and typically takes less than a day to complete.

KYC required?

Yes

Customer Service

Bitstamp offers extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, making it reliable for users globally.

SimpleSwap offers customer support via email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback for some users.

Security

Bitstamp offers robust security with 2FA, SSL encryption, and cold storage. It is regulated by multiple financial authorities, making it a highly secure platform for investors .

SimpleSwap offers strong security with 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I highly recommend Bitstamp for traders looking for a reliable and secure platform with a good range of cryptocurrencies. Its robust security measures and regulatory compliance make it a trustworthy choice. While its fees aren’t the lowest, the platform’s ease of use, strong customer service, and comprehensive trading options balance the scales, making Bitstamp a solid option for both newcomers and experienced traders in the cryptocurrency space.

Xavier Tarrasó

As an expert on cryptocurrency exchanges, I find SimpleSwap to be a commendable platform for those just starting with cryptocurrencies. Its straightforward and intuitive interface removes much of the complexity typically associated with crypto trading. This accessibility makes it an excellent choice for newcomers who might be overwhelmed by more advanced trading platforms. However, it’s important to note that while SimpleSwap excels in simplicity and ease of use, it may not fully satisfy the needs of more seasoned traders looking for advanced trading tools and features. For those just entering the crypto space, SimpleSwap offers a gentle introduction without the intimidating barriers to entry seen in other exchanges.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.