Comparison of Bitstamp vs Switchere [ 2024 ]

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

Your expert: Alejandro Borja

Bitstamp

Your expert: Xavier Tarrasó

Switchere

Main points

Fees

≤0,30%

Earns

Yes

Customer service

4/5

only card 3.60%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Passive income

Buy and hold

Comparison of fees

Rating

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

3.9 – Reasonable fees with additional benefits for instant purchases.

Level

≤0,30%

only card 3.60%

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.

Switchere’s fee structure is designed with simplicity in mind, catering to users who value straightforward transactions. The exchange primarily charges a fee on the conversion of fiat to crypto, and this fee is transparently incorporated into the exchange rate displayed at the time of purchase. The typical transaction fee ranges from 1% to 2%, depending on the payment method and the specific currencies involved. This simplicity allows users, especially beginners, to easily understand the costs associated with their transactions without worrying about additional hidden charges.

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.

Switchere

Year Founded: Switchere was established under Estonia's progressive and stringent regulatory framework, enhancing its credibility as a trustworthy platform.
Security Methods: Adhering to rigorous security protocols required by Estonian law, Switchere ensures that user data and funds are protected through advanced security measures, including SSL encryption and compliance with AML (Anti-Money Laundering) policies.
Reputation and Reviews: Switchere has built a positive reputation among its users for its ease of use and reliable customer service. This is reflected in consistently good reviews across various consumer feedback platforms.
Transparency: The platform maintains high transparency in transaction fees and exchange rates. It discloses all costs upfront, ensuring users are not met with unexpected charges.
Customer Service: Switchere offers robust support with quick response times, providing users with a dependable resource for resolving issues and inquiries, which is essential for new entrants in the crypto market.

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Account Minimum

Get started with just $100.

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Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

Bitstamp Ltd.

Unknown

Regulation

Regulated in Luxemburgo

Not regulated

Year founded

2011

2019

Founder

Nejc Kodrič, Damijan Merlak

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitstamp	FEATURES	Switchere
Bitstamp allows users to start trading with a relatively low minimum, accommodating small-scale traders effectively.	Minimum Trade	Switchere offers a low minimum trade amount, making it accessible for beginners or those looking to experiment with small transactions.
Bitstamp’s fee structure is competitive but not the lowest in the market, balancing fairness with service quality.	Trading and Transaction Fees	The fees are relatively high compared to industry standards, which might deter frequent traders or those dealing in larger volumes.
Bitstamp supports a robust selection of popular cryptocurrencies, catering well to both mainstream and niche market participants.	Number of Cryptocurrencies	Switchere supports a limited but essential selection of cryptocurrencies, suitable for those new to crypto but restrictive for diverse portfolios.
The platform offers a solid range of crypto-to-crypto trading pairs, providing good options for diverse trading strategies.	Crypto-to-Crypto Trading Pairs	Offers basic trading pairs; however, it lacks the variety provided by larger exchanges, limiting strategic trading options.
Bitstamp is known for its clear, user-friendly website that provides extensive information on fees, policies, and trading options.	Website Transparency	The website clearly outlines fees, processes, and security measures, providing users with the information they need to make informed decisions.
Bitstamp lacks a branded exchange card, which limits its versatility for users seeking integrated payment solutions for everyday purchases.	Credit/Debit Card	Switchere focuses on direct cryptocurrency purchases with fiat and does not provide additional financial tools like a branded exchange card.
Bitstamp offers secure storage options including cold storage, ensuring high security for user funds against potential cyber threats.	Storage Offering	Offers secure storage solutions, though it might lack some advanced security features available on more specialized platforms.
Currently, Bitstamp does not offer staking services or rewards, which limits opportunities for earning through investment holding.	Staking and Rewards	Limited options for staking and rewards, which could be expanded to encourage longer-term investments and user retention.
Both Bitstamp’s mobile app and desktop platform are highly intuitive and reliable, though some users desire additional features.	Mobile App and Desktop	Both mobile and desktop platforms are user-friendly and reliable, though they may lack some functionalities expected by advanced users.
Bitstamp provides dependable customer service, but response times can vary, especially during high demand periods.	Customer Service	Generally responsive and helpful, but some users may experience delays during peak times.
Deposits and withdrawals are handled efficiently on Bitstamp with support for multiple payment methods, though some fees may apply.	Deposit and Withdraw	The process is straightforward, but the high fees for some operations and limited methods for withdrawal can be a drawback.

Key features

Analysis tools

Basic charting tools, technical indicators

No significant tools, mainly a buying platform

Mobile APP

Security

High 4,9/5

High 4/5

Additional features

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

Instant crypto purchases, staking, Switchere wallet, educational resources

Anonymity

Key points

Available cryptocurrencies

30+

10+

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.

Switchere provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

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

Provides decent value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

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.

Ideal for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

USD, EUR, GBP, BTC

EUR, USD, BTC

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.

Switchere provides a secure platform with easy fiat integration and a decent range of cryptocurrencies. It offers competitive fees but lacks advanced trading 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.

Switchere supports various deposit and withdrawal methods, including bank transfers and cryptocurrencies. Withdrawals are processed efficiently, 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.

Switchere offers a straightforward and user-friendly account registration process. Users need to provide personal information and verify their identity. The process is efficient 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.

Switchere 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 .

Switchere employs robust security features, including 2FA and encryption. However, it is not regulated by major financial authorities, which might 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 a cryptocurrency expert reviewing various platforms, I find Switchere to be a notably accessible exchange for newcomers to the cryptocurrency market. The platform’s straightforward design eliminates the usual complexities associated with crypto transactions, making it exceptionally user-friendly. For anyone looking to start their journey into cryptocurrencies with minimal hassle, Switchere’s ability to process direct purchases through credit and debit cards offers a significant convenience. However, while it’s ideal for beginners due to its simplicity, more experienced traders might find the limited selection of cryptocurrencies and higher transaction fees a bit restrictive. Therefore, I recommend Switchere for those new to the space or for casual users not looking to engage in more complex trading activities.

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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.