Bitstamp is one of the oldest exchange platforms on the market. In operation since 2011, the platform was founded in Slovenia to offer a European alternative to the American giant of the time Mt. Gox. The service then migrated to the United Kingdom in 2013, then to Luxembourg in 2016 to finally be acquired by the Belgian company NXMH last year.
Over the years, the firm has managed to establish itself among the most important marketplaces in Europe with a daily volume of around 70 million euros. Since its inception, Bitstamp has enjoyed a good reputation in terms of regulation and security, although the platform was the victim of a 19,000 Bitcoin hack in 2015. It offers exchange services between the most popular cryptocurrencies, as well as the purchase and withdrawal by card and by bank transfer.
Bitstamp: a complete and competitive service
The registration procedure is fast and efficient although it requires proof of identity to access the service, and meet European requirements. The exchange platform only supports 5 cryptocurrencies: Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash. Each of these can be exchanged for euros or dollars only. To convert one cryptocurrency into another, it will be necessary to go through a fiat currency.
The platform offers the possibility of making deposits and withdrawals in cryptocurrency, but also in euros or dollars by transfer or bank card. The service is completely secure, 98% of its cryptocurrencies are cold stored, and therefore remain inaccessible from the internet. To control access to your account and verify your transactions, it has a two-factor authentication method and an email validation system.
The fees charged are among the lowest on the market with the exception of the deposit by credit card with a minimum of 5%. Cryptocurrency and currency deposits by wire transfer are free, and withdrawal fees vary depending on the asset. Regarding trading, they are variable depending on the monthly volume, and start at 0.5% of the transaction.
Bitstamp: An ergonomic interface available only in English
The platform is aimed at all types of user by offering excellent ergonomics and various interfaces adapted to the level of its customers. Basic forms make it easy to place an order. The exchange supports “instant”, “market”, “limit” and “stop” order types to quickly trade or take a position at a price you set. For more seasoned clients, Bitstamp offers a comprehensive trading view that gathers information about a pair.
It provides in particular the chart of the price and the volume of trade, the order book, the list of the last transactions, as well as a wide choice of indicators and drawing tools to conduct a technical analysis. Finally, the services and functions of the platform are accessible from a mobile application available on Android and iOS.
Bitstamp: User review
The cryptocurrency exchange platform benefits from serious advantages to attract European customers, particularly in terms of regulation and security. Bitstamp is subject to European requirements and offers a high level of security for both its customers and its infrastructure. Buying and selling cryptocurrency for fiat currencies is made easy with easy-to-learn forms and the availability of popular payment methods, such as cards and wire transfers. Aside from the rather high bank card deposit fees, the platform is in the low average of the market.
The Bitstamp interface is suitable for all types of users by offering simple tools to obtain cryptocurrencies, but also a complete trading view within particular everything necessary to carry out the technical analysis of an asset. The more experienced will nevertheless regret the limited choice of cryptocurrencies. The platform only offers Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash. Finally, if you are completely closed to the language of the Beatles, go your way, Bitstamp is only available in English.
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