Bitstamp Review 2024

Autor

Revisor

Last update: 9 months ago

Our veredict

Bitstamp, as one of the long-standing cryptocurrency exchanges, has firmly established itself as a reliable and secure platform for trading a variety of digital currencies. Founded in 2011, Bitstamp has built a robust reputation for its adherence to regulatory standards and focus on security, which is highlighted by its implementation of best practices such as two-factor authentication and cold storage of assets. These measures significantly contribute to making it a safe choice for traders, especially those concerned about the security of their transactions.

However, despite its many strengths, Bitstamp has faced criticisms, particularly regarding its customer service, which some users find to be slower than ideal, particularly during peak times. Additionally, the platform’s trading fees, while competitive, may not be the lowest available in the market, which could be a drawback for cost-sensitive traders. Overall, Bitstamp is recommended for its security and reliability but users might experience some delays or higher costs during their trading activities.

Pros

Cons

Investing risks losing your money

4,4

Threenvest Score

Fees

≤0,30%

U.S Legal

Yes

With the confidence of Threenvest

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.

Best Crypto Exchanges

Why can you trust Threenvest?

At Threenvest, we are unwaveringly committed to providing you with unbiased ratings and information. Our editorial team operates independently, free from any advertising influence. We use meticulous, data-driven methodologies to evaluate financial products and companies, ensuring that all assessments are conducted on a level playing field.

To better understand our editorial guidelines and the investment methodology that supports our ratings, you can explore the information in our editorial policy.

About Bitstamp

Introduction

Bitstamp, established in 2011, is one of the longest-running cryptocurrency exchanges globally. It is renowned for its user-friendly platform that caters to both novice and seasoned traders.

What is Bitstamp?

Bitstamp is a digital currency exchange that allows users to securely buy, sell, and store cryptocurrencies like Bitcoin, Ethereum, and Ripple. It operates under high regulatory scrutiny, providing a secure environment for digital transactions.

Background and History

Founded by Nejc Kodrič and Damijan Merlak in Slovenia, Bitstamp was created in response to a lack of European options for buying bitcoin. The platform was moved to the UK in 2013, and later to Luxembourg in 2016 where it became the first nationally licensed crypto exchange, gaining approval from the Luxembourg Financial Industry Supervisory Commission (CSSF).

Founders

Nejc Kodrič served as the CEO until 2020, guiding Bitstamp from a startup to a leading international crypto exchange. Damijan Merlak, although less involved today, played a crucial role in the platform’s early development.

Interesting Facts

Bitstamp was the first exchange to implement multi-sig wallet access and to be licensed in all 28 EU member states.
It handles over $1 billion in daily trading volume, making it one of the top exchanges globally by this metric.

Headlines

“Bitstamp granted virtual currency license by New York financial regulator” — highlighting its commitment to complying with stringent regulations to provide secure and legal trading options.

Why Choose Bitstamp?

Choosing Bitstamp as your cryptocurrency exchange offers several compelling advantages. Firstly, its long-standing reputation since 2011 as one of the first crypto exchanges provides a proven track record of reliability and security. This history not only reflects stability but also Bitstamp’s commitment to complying with regulatory standards and ensuring user protection.

Secondly, Bitstamp’s user interface is designed to be intuitive, making it accessible for beginners while still offering advanced features that cater to experienced traders. This balance ensures that all users, regardless of their trading expertise, can navigate and utilize the platform effectively.

Lastly, Bitstamp’s robust customer support system enhances its appeal as a trustworthy platform. Knowing that you can receive timely and helpful responses to inquiries or issues contributes to a secure and positive trading experience. Whether you’re looking to start trading cryptocurrencies for the first time or looking for a reliable platform that aligns with regulatory standards, Bitstamp presents a solid choice.

Where it falls short

Educational Resources: Bitstamp currently offers limited resources for educating new traders. Enhancing its educational content could help novice users understand the complexities of cryptocurrency trading and risk management better, thus fostering a more informed and engaged user base. Improvement: Bitstamp could develop a comprehensive learning hub that includes tutorials, webinars, and real-time market analysis. This would not only aid new traders but also add value for experienced users looking to deepen their market understanding.

Product Variety: While Bitstamp provides a solid platform for trading major cryptocurrencies, it lacks the variety of financial products found on some other exchanges, such as futures, options, and a broader range of altcoins. Improvement: To attract a wider spectrum of investors and traders, Bitstamp could expand its product offerings to include more derivative products and additional cryptocurrencies. This expansion would cater to traders looking for more sophisticated trading strategies and those interested in newer or less mainstream coins.

Features	Explanation
Minimum Trade	Bitstamp allows users to start trading with a relatively low minimum, accommodating small-scale traders effectively.
Trading and Transaction Fees	Bitstamp’s fee structure is competitive but not the lowest in the market, balancing fairness with service quality.
Number of Cryptocurrencies	Bitstamp supports a robust selection of popular cryptocurrencies, catering well to both mainstream and niche market participants.
Crypto-to-Crypto Trading Pairs	The platform offers a solid range of crypto-to-crypto trading pairs, providing good options for diverse trading strategies.
Website Transparency	Bitstamp is known for its clear, user-friendly website that provides extensive information on fees, policies, and trading options.
Credit/Debit Card	Bitstamp lacks a branded exchange card, which limits its versatility for users seeking integrated payment solutions for everyday purchases.
Storage Offering	Bitstamp offers secure storage options including cold storage, ensuring high security for user funds against potential cyber threats.
Staking and Rewards	Currently, Bitstamp does not offer staking services or rewards, which limits opportunities for earning through investment holding.
Mobile App and Desktop	Both Bitstamp’s mobile app and desktop platform are highly intuitive and reliable, though some users desire additional features.
Customer Service	Bitstamp provides dependable customer service, but response times can vary, especially during high demand periods.
Deposit and Withdraw	Deposits and withdrawals are handled efficiently on Bitstamp with support for multiple payment methods, though some fees may apply.

Investing risks losing your money

Xavier Tarrasó

EIP and Cryptocurrency Investor

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.

Fees

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.

Pros

Tiered Fee Structure: Lower fees for higher trading volumes incentivize frequent trading and larger transactions.
Transparency: Clear and straightforward fee listings on the Bitstamp website make it easy for traders to understand what they will be charged.
Competitive Rates: Starting at 0.50% for low-volume traders and potentially dropping to 0.0% for high-volume traders, Bitstamp's fees are competitive with leading global exchanges.

Cons

Trading Commissions

At Bitstamp, trading fees are calculated based on a 30-day USD trading volume, with fees starting at 0.50% for trades under $10,000, gradually decreasing to as low as 0.0% for substantial trading volumes exceeding $20 billion. This model is particularly advantageous for active traders who can significantly lower their cost per trade as their activity increases.

Hidden Commissions

While Bitstamp is transparent about its main trading fees, users should be aware of other potential costs:

Withdrawal Fees: These vary depending on the asset and can sometimes be a surprise if not checked in advance.
Deposit Fees: While many fiat and cryptocurrency deposits are free, credit card deposits can incur significant charges.

Analysis and Context

Comparatively, Bitstamp’s fees are on par with or better than those of major competitors like Coinbase and Binance, particularly for users with high trading volumes. The transparent, volume-based pricing model not only fosters an active trading environment but also positions Bitstamp as an attractive option for professional traders and institutions looking to minimize costs.

Strategic Implications

For users, understanding Bitstamp’s fee structure is crucial for strategizing trades. High-volume traders can leverage their activity to reduce costs drastically, which is a significant advantage in the competitive crypto trading landscape. In conclusion, Bitstamp’s commission structure is a well-thought-out strategy that aligns with the needs of its diverse user base. By offering competitive rates and rewarding high-volume trading, Bitstamp not only retains its existing customers but also attracts large-volume traders looking for cost-efficient trading platforms.

Product selection

Bitstamp enables users to trade a variety of cryptocurrencies including major ones like Bitcoin, Ethereum, Ripple, and Litecoin, among others. It supports fiat-to-crypto and crypto-to-crypto trading pairs, allowing for direct purchases and sales within a robust, secure trading environment. A standout feature of Bitstamp is its commitment to security and compliance, with robust measures such as two-factor authentication, cold storage for the majority of customer assets, and comprehensive regulatory compliance across multiple jurisdictions. This ensures that user funds and data are protected to the highest standards. Additionally, Bitstamp’s platform is designed with user experience in mind, featuring an intuitive interface that caters to both beginners and experienced traders. It offers real-time order books, charting tools, and a mobile trading app, making trading accessible and efficient, regardless of where the user is located. For deposits and withdrawals, Bitstamp supports multiple fiat currencies including USD, EUR, and GBP, with a range of payment methods such as bank transfer, credit card, and cryptocurrency transfers. This flexibility makes it easy for users to fund their accounts and withdraw earnings according to their preferences.

Pros

Robust Security Measures: Bitstamp prioritizes user security with comprehensive measures including two-factor authentication, cold storage of assets, and full compliance with regulatory standards. This makes it one of the safest platforms for cryptocurrency trading.
Wide Range of Supported Currencies: Bitstamp supports a variety of major cryptocurrencies and fiat currencies, allowing users to engage in both fiat-to-crypto and crypto-to-crypto transactions. This versatility caters to a broad user base with different trading needs.
User-Friendly Interface: Both the website and mobile application are designed with the user in mind, featuring intuitive navigation and sophisticated trading tools that accommodate both novice and experienced traders.

Cons

Limited Educational Resources: While Bitstamp excels in many areas, it lacks comprehensive educational materials that could help new users understand the complexities of cryptocurrency trading.
No Advanced Trading Options: Unlike some competitors, Bitstamp does not offer advanced trading options like futures and margin trading, which may deter more experienced traders looking for these specific features.

Read more about product selection in Bitstamp

Bitstamp offers a variety of services and products designed to cater to both novice and experienced cryptocurrency traders. Here’s an extensive look at what Bitstamp provides:

Leveraged Tokens: Bitstamp currently does not offer leveraged tokens, which are a form of derivatives that provide leveraged exposure to the price of a cryptocurrency without the complexities of managing a leveraged position.
Debit Card: Bitstamp does not offer a branded debit card for making purchases or withdrawing funds directly from the user’s exchange account balance.
App: Bitstamp’s mobile app is available for both iOS and Android devices, offering full trading functionality, real-time market data, transaction history, and crypto-to-crypto exchanges.
Own Cryptocurrencies: Bitstamp does not issue its own cryptocurrencies but offers a robust selection of popular coins for trading.
Own Network: As an exchange, Bitstamp operates on existing blockchain networks and does not have its own blockchain network.
Financial Products: Bitstamp provides a straightforward trading platform without the range of financial products like savings accounts or loan services found on some other platforms.
Launchpad: There is no launchpad service at Bitstamp for the initial offering of new tokens or cryptocurrencies, which is a service offered by some larger exchanges.
EARN: Bitstamp does not have an “earn” feature that allows users to gain interest on their cryptocurrency holdings.
Staking: Bitstamp currently does not support staking, which would allow users to earn rewards for holding certain cryptocurrencies.
Loans: The platform does not offer crypto-backed loans, which some other exchanges provide to give users liquidity without selling off assets.
Liquid Swap: This service is not available on Bitstamp, which is typically found on platforms that offer users the ability to swap between different liquidity pools.
Promotions, Referral Codes, Tournaments: Bitstamp occasionally offers promotions and referral bonuses, though these are less frequent than on some other platforms.
Leverage, Demo Account: Bitstamp provides a secure trading environment but does not offer leveraged trading or demo accounts for practice trading.
Futures, Wallet, Derivatives, Research and Education, API, Trading View, Earn Opportunities, Yielding Pools, Bonus Deals: While Bitstamp offers basic trading capabilities and an API for automated trading, it does not offer futures, derivatives trading, or a proprietary wallet. The platform provides limited research and educational resources but is known for its reliability and ease of use.

Conclusion: Bitstamp focuses on providing a secure, reliable, and user-friendly trading environment with a focus on traditional spot trading of cryptocurrencies. It lacks some of the more advanced trading options and additional financial services that other platforms might offer, making it best suited for users who prefer straightforward buying and selling of digital assets.

Account opening

To start trading on Bitstamp, you first need to create an account on their platform. This involves providing some basic information such as your email address and creating a password. Once your email is verified, you’ll be guided through a series of steps to secure your account, including setting up two-factor authentication, which adds an extra layer of security. Next, you’ll need to complete identity verification, a standard requirement to comply with financial regulations. This involves submitting identification documents such as a passport or driver’s license, and sometimes a proof of residence. Bitstamp’s verification process is typically quick, with most accounts being verified within a few hours, though it can occasionally take longer during busy periods. Once verified, you can deposit funds into your account using various methods including bank transfers and credit cards. Bitstamp supports several major fiat currencies like USD, EUR, and GBP, making it convenient to fund your account. Overall, Bitstamp’s account opening process is designed to be as seamless and secure as possible, ensuring that users can quickly start trading while meeting all necessary regulatory requirements.

Pros

Straightforward Process: Bitstamp's account registration is user-friendly, requiring only a few steps to set up, which makes it accessible even to those new to cryptocurrency trading.
Quick Verification: The verification process is generally fast, often completed within a few hours, allowing new users to start trading relatively quickly after signing up.
Multiple Funding Options: Bitstamp supports a variety of deposit methods including bank transfers and credit cards, and accommodates several major fiat currencies such as USD, EUR, and GBP, offering flexibility in funding accounts.

Cons

Potential Delays: During periods of high demand, the verification process can be slow, potentially delaying account activation and the ability to start trading.
Documentation Requirements: The need for extensive documentation for identity verification, while necessary for compliance with financial regulations, can be a barrier for users seeking quick access to trading.

Read more about account opening in Bitstamp

The account opening process at Bitstamp is designed to be comprehensive yet user-friendly, ensuring security and compliance with financial regulations. Here’s a detailed guide on how to sign up and start trading on Bitstamp, including the various account types and a basic introduction on how to use the platform:

How to Sign Up on Bitstamp

Visit the Bitstamp Website: Go to Bitstamp’s official website and click on the ‘Register’ button.
Enter Your Information: Provide your personal information, including your name, email address, and country of residence. Set a strong password.
Email Verification: After submitting your information, check your email for a verification link from Bitstamp. Click the link to verify your email address.
Enable Two-Factor Authentication (2FA): For added security, enable 2FA on your account. This will require you to enter a code from your phone each time you log in or make transactions.

Opening An Account

Complete Identity Verification: To fully activate your account, complete the KYC (Know Your Customer) process by uploading government-issued ID documents such as a passport or driver’s license.
Proof of Residence: Upload a recent utility bill or bank statement as proof of residence.

How to Buy Your First Cryptocurrency

Deposit Funds: Once your account is set up, deposit funds using one of the available methods (bank transfer, credit card, etc.). Depending on your region, you might have different options available.
Purchase Cryptocurrency: Navigate to the ‘Buy/Sell’ section. Select the cryptocurrency you wish to purchase, enter the amount, review the transaction details, and confirm the purchase.

Account Types

Personal Account: Suitable for individual traders looking for straightforward access to cryptocurrency markets.
Corporate Account: Intended for businesses and higher volume traders, offering additional services and support.

How to Use Bitstamp?

Trading Platform: Bitstamp offers a web-based trading platform and a mobile app, both featuring a user-friendly interface suitable for beginners and advanced traders.
Placing Orders: You can place market, limit, and stop orders on the platform to buy or sell cryptocurrencies.
Monitoring Your Portfolio: Use the dashboard to track your holdings, transaction history, and market movements.

Registration and KYC

Significance: The KYC process is crucial for compliance with anti-money laundering laws and to ensure the security of transactions on the platform.

Conclusion

Bitstamp’s account opening process is structured to ensure user security and compliance with regulatory standards. It provides a solid foundation for trading cryptocurrencies, catering to both novice users and experienced traders. The platform’s user interface is designed to facilitate an intuitive trading experience, making it easier to navigate and execute trades efficiently.

Security

Security Overview at Bitstamp Bitstamp employs a multi-faceted security approach designed to protect user accounts and assets from unauthorized access and cyber threats. This includes the use of two-factor authentication (2FA), mandatory confirmation emails for withdrawals, and rigorous compliance with AML (Anti-Money Laundering) and KYC (Know Your Customer) regulations to prevent illicit activities. Security Measures Cold Storage: A significant portion of the digital assets on Bitstamp are held in secure, offline cold storage, significantly reducing the risk of theft from online hacks. Encryption: Bitstamp uses PGP (Pretty Good Privacy) data encryption techniques to secure users’ personal information and communication. SSL Encryption: All information on Bitstamp’s platform is transmitted using SSL encryption, ensuring that all data passed between the web server and browsers remain private and integral. Is Bitstamp Legit? Bitstamp is one of the longest-running cryptocurrency exchanges in the industry, established in 2011, and is fully licensed in Luxembourg. It is considered one of the most reputable cryptocurrency trading platforms, known for its adherence to regulatory requirements and high security standards. Bitstamp’s proactive approach to security, comprehensive compliance policies, and continued investment in safety measures demonstrate its commitment to providing a secure trading environment. This makes Bitstamp a trusted choice for traders prioritizing the safety of their investments.

Pros

Robust Cold Storage: Bitstamp stores the majority of its digital assets in secure, offline cold storage, which significantly minimizes the risk of theft by hackers, thereby protecting user funds.
Regulatory Compliance: Bitstamp is fully licensed in Luxembourg and adheres to strict regulatory standards, including AML (Anti-Money Laundering) and KYC (Know Your Customer) practices. This compliance ensures a secure and transparent trading environment.
Advanced Encryption: Bitstamp employs advanced encryption technologies such as SSL and PGP to safeguard user data and communications. This comprehensive approach to data security helps prevent unauthorized access and data breaches.

Cons

Past Security Breaches: Despite its strong security measures, Bitstamp has experienced significant hacks in the past, most notably in 2015 when a substantial amount of Bitcoin was stolen. This history may concern some users about potential vulnerabilities.
Limited Security Features for User Accounts: While Bitstamp provides essential security tools like two-factor authentication, it could benefit from implementing additional user-level security features such as IP whitelisting or withdrawal address whitelisting to give users more control over their account security.

Is Bitstamp Legit?

Bitstamp is one of the oldest cryptocurrency exchanges, established in 2011, and has built a reputation for being a trustworthy platform in the crypto community. It was the first fully licensed European cryptocurrency exchange, receiving a license from Luxembourg in 2016, which marked a significant step in its commitment to adhering to traditional financial regulations.

Regulation and Licensing

Bitstamp is licensed in Luxembourg and operates under the regulatory oversight of the Luxembourg Financial Sector Supervisory Commission (CSSF). This license allows Bitstamp to operate across the European Union and in many other countries, providing a regulatory framework that supports secure and compliant trading activities.

Is Bitstamp Safe?

Overall, Bitstamp is considered safe. It has implemented a variety of security measures to protect user funds and data:

Cold Storage: The majority of customer digital assets are stored in cold wallets, which are offline and thus not susceptible to online hacking attempts.
Two-Factor Authentication (2FA): Mandatory for all withdrawals and changes to account settings, adding an extra layer of security.
SSL Encryption: Ensures that all data transferred between users and the server is secure and encrypted.
PGP/GPG Encryption: Used for encrypting the files and emails sent between clients and Bitstamp, ensuring that only the intended recipients can read them.

Historical Security Incidents

Bitstamp experienced a significant security breach in January 2015, where approximately 19,000 bitcoins were stolen due to a phishing attack targeting employees. Since then, Bitstamp has significantly enhanced its security measures, including moving a larger portion of customer assets into cold storage and increasing its investment in security infrastructure and protocols.

Conclusion

Bitstamp has taken considerable steps to improve its security posture since the 2015 incident. With its rigorous compliance with financial regulations, extensive security measures, and continuous improvements in safety protocols, Bitstamp is generally considered a secure platform for trading cryptocurrencies. However, users should remain vigilant and utilize all available security features to safeguard their accounts and assets.

Customer service

Bitstamp provides a range of customer service options, including email support, support tickets, live chat, and social media interaction, ensuring that users have multiple avenues to seek assistance. The platform generally enjoys a positive reputation for its reliability and user-friendly interface, although response times can be slow during peak periods, and the account verification process can be lengthy. Despite these occasional delays, the comprehensive FAQ section and detailed help resources significantly aid in resolving common issues, making Bitstamp a dependable choice for those prioritizing security and regulatory compliance in their trading activities.

Pros

Multiple Support Channels: Bitstamp offers a variety of customer support channels including email, support tickets, social media, and live chat. This range ensures that users can choose the most convenient way to reach out for help according to their needs.
Quick Access via Live Chat: The live chat feature on Bitstamp provides instant access to support for urgent inquiries, which is highly valued by users who need immediate assistance.
Comprehensive FAQ and Help Section: Bitstamp's website includes a detailed FAQ and help section that covers a wide range of topics. This resource is particularly useful for new users and for answering common questions, reducing the need to contact customer support for general queries.

Cons

Slow Response Times During Peak Periods: Some users have reported slow response times from customer support during periods of high demand, such as during significant market movements or outages. This can be frustrating for users needing timely support.
Lengthy Verification Process: The account verification process at Bitstamp can be lengthy and complex, which has been a point of frustration for many users. Delays in verification can hinder the ability to trade promptly, which is critical in the fast-paced crypto market.

Read more about customer service in Bitstamp

Bitstamp has established a robust customer service system aimed at addressing the needs and concerns of its users efficiently. Here’s a detailed look into Bitstamp’s customer service practices:

Customer Support

Bitstamp provides comprehensive customer support through various channels:

Email: Users can send detailed inquiries and receive support by emailing Bitstamp’s customer service team.
Support Tickets: For specific issues, users can create support tickets through the Bitstamp website. This system helps categorize and track user issues efficiently, ensuring they are addressed in a systematic manner.
Live Chat: For immediate assistance, Bitstamp offers a live chat feature on its website, allowing users to have real-time conversations with support agents.
Social Media: Bitstamp is active on several social media platforms, such as Twitter and Facebook, where they respond to customer queries and post updates.

Reputation and Customer Feedback

Bitstamp generally holds a positive reputation in the cryptocurrency community, known for its reliability and user-centric approach. However, user feedback varies:

Positive Feedback: Many users appreciate Bitstamp for its secure trading environment and the reliability of its platform. The availability of multiple support channels is also frequently praised.
Negative Feedback: Criticisms often relate to slow response times during periods of high demand, such as sudden market drops or peaks. Some users also express frustration with the lengthy verification process, which can delay trading opportunities.

Contact Methods

Bitstamp emphasizes accessibility in its customer support, offering multiple methods for users to reach out:

Direct email for in-depth inquiries.
Support tickets for tracking specific issues.
Live chat for immediate assistance.
Social media for quick queries and updates.

Response Time

The response time can vary:

Live Chat: Immediate responses are typical during operating hours.
Email and Support Tickets: These can take longer, from a few hours to several days, depending on the volume of inquiries and the complexity of the issues raised.

Additional Considerations for Readers

Users considering Bitstamp should be aware of the potential for delayed responses during volatile market periods, which is a common issue across many crypto exchanges. It’s advisable to utilize the FAQ and help sections for general questions to reduce wait times. For urgent issues, using the live chat during operating hours can provide quicker resolutions. New users should prepare for a potentially lengthy verification process and might want to schedule their account setup accordingly to avoid missing critical trading opportunities. Overall, Bitstamp’s commitment to providing a secure and reliable service is evident in its comprehensive customer support structure, although there is room for improvement in response times during peak periods.

Is bitstamp Right for You?

Security and Compliance Focus: If you prioritize security and regulatory compliance in your trading platform, Bitstamp may be an excellent fit. It is one of the oldest and most reputable exchanges in the cryptocurrency market, fully licensed in Luxembourg and adhering to stringent EU regulations. This makes it a trustworthy platform for users who are cautious about the security and legality of their investments.
User Experience and Interface: Bitstamp offers a straightforward, intuitive user interface suitable for both beginners and experienced traders. If you prefer a no-frills trading experience that focuses on essential functionalities without the complexity of advanced trading options like derivatives and futures, Bitstamp’s platform could align well with your needs.
Support for Major Cryptocurrencies Only: Bitstamp might be ideal if you are primarily interested in trading major cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Ripple. However, if your interests include a broader range of altcoins or less common cryptocurrencies, you might find Bitstamp’s offerings limited. It’s a good platform for traditionalists who focus on the most established cryptos but may not satisfy those looking to explore a wider array of speculative altcoins.

By considering these aspects in light of your trading preferences and needs, you can make a more informed decision about whether Bitstamp aligns with your cryptocurrency trading goals.

Bitstamp compared to other crypto exchanges

Threenvest score

4,4

Fees

≤0,30%

US Legal

Yes

Security

High 4,9/5

Investing risks losing your money

Threenvest score

4,9

Fees

0,00%/0,40%

US Legal

Yes

Security

High 4,9/5

Investing risks losing your money

bybit

Threenvest score

4,8

Fees

US Legal

Security

High 4,9/5

Investing risks losing your money

Available cryptocurrencies and countries available

Bitstamp supports a focused selection of cryptocurrencies, catering primarily to the most traded and widely recognized assets in the market. The exchange currently offers trading in around 40 cryptocurrencies including major ones like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP). However, it does not support some popular altcoins such as Cardano (ADA), Polkadot (DOT), and Solana (SOL), which might be a limitation for traders interested in a broader range of crypto assets.
As for geographic availability, Bitstamp serves customers in over 60 countries, including major markets across Europe, parts of Asia, and other regions. However, it is important to note that Bitstamp is not available to residents of certain countries, including some states in the USA due to regulatory restrictions. This limitation can be significant for potential users from these regions looking for a reliable trading platform. Residents of New York, for example, cannot open accounts due to the state’s specific licensing requirements (BitLicense).

This geographic and cryptocurrency offering profile makes Bitstamp a suitable option for traders in supported regions who are primarily interested in the most established cryptocurrencies but may not cater to those seeking a more diverse portfolio or residing in restricted jurisdictions.

Main cryptocurrencies available

Bitcoin (BTC)
Ethereum (ETH)
Ripple (XRP)
Litecoin (LTC)
Bitcoin Cash (BCH)
Chainlink (LINK)
Stellar (XLM)
USD Coin (USDC)
Cardano (ADA)
Ethereum Classic (ETC)
Uniswap (UNI)
Algorand (ALGO)
Cosmos (ATOM)
Maker (MKR)
Aave (AAVE)
Compound (COMP)
Dash (DASH)
Tezos (XTZ)
Zcash (ZEC)
Polygon (MATIC)

Main countries where you can open an account

United Kingdom
Germany
France
Italy
Spain
Netherlands
Belgium
Austria
Portugal
Sweden
Finland
Denmark
Norway
Australia
Canada
Japan
South Korea
Brazil
South Africa
New Zealand

FAQs

How do I start trading on Bitstamp?

To begin trading, create an account on the Bitstamp website, complete the required KYC verification process, and then deposit funds using one of the supported methods such as bank transfer, credit card, or cryptocurrency transfer. Once your funds are credited, you can start trading by selecting from various available cryptocurrencies.

What are the fees for trading on Bitstamp?

Bitstamp uses a tiered fee structure based on your 30-day trading volume. Fees start at 0.50% for trades of $10,000 or less and can decrease to as low as 0.0% for extremely high volumes. Detailed information on fees is available on Bitstamp’s official fee schedule on their website.

Can I use Bitstamp on my mobile device?

Yes, Bitstamp offers a mobile app available for both iOS and Android devices. The app provides full trading functionality, including the ability to place trades, check real-time prices, and manage your account on the go.

What should I do if I forget my password?

If you forget your password, you can reset it by clicking on the ‘Forgot Password’ link on the login page. You’ll need to enter your email address, and Bitstamp will send you instructions to reset your password securely.

Is Bitstamp available in my country?

Bitstamp serves customers in over 60 countries. However, due to regulatory restrictions, it does not operate in certain regions including some states in the USA such as New York. Check the latest list of supported countries on Bitstamp’s website or contact their support for more information.

How can I withdraw funds from my Bitstamp account?

To withdraw funds, navigate to the withdraw section on your account, choose your preferred withdrawal method, fill in the necessary details, and submit the request. Keep in mind that withdrawal methods and limits may vary based on your account type and verification level.

Final opinion on Bitstamp

At Threenvest, we strive to provide our users with comprehensive and unbiased reviews of cryptocurrency exchanges, and Bitstamp stands out as a platform with a strong foundation in security and regulatory compliance. Established in 2011, Bitstamp has positioned itself as one of the longest-running cryptocurrency exchanges, offering a reliable trading environment that appeals especially to those new to the cryptocurrency market as well as seasoned traders. Its user-friendly interface, integration with TradingView for advanced charting tools, and a straightforward fee structure make it an attractive option for a wide range of users.

However, compared to some of its competitors like Binance or Kraken, Bitstamp offers a more limited selection of cryptocurrencies and lacks features such as futures and margin trading, which may deter users looking for more diverse trading options. Furthermore, the platform’s past security breaches, although comprehensively addressed, might still be a concern for potential users. In conclusion, while Bitstamp presents several strengths such as high operational security, a straightforward user interface, and strong regulatory compliance, it also shows room for improvement in expanding its asset offerings and enhancing its educational resources. For clients of Threenvest looking for a reliable and simple exchange with a focus on core cryptocurrencies, Bitstamp provides a solid option, though it may not fully satisfy those seeking broader trading capabilities.

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.

Do not invest unless you are fully prepared to lose the entire amount of your investment. This is a high-risk activity, and you should not rely on any guarantees of protection if something goes wrong.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.

Investing risks losing your money