Pros Explained

• Easy-to-use platform: Bitstamp offers a simple, user-friendly platform that makes it easy to buy and sell cryptocurrency.
• Competitive fees on main platform: Fees start at 0.30% and go down with higher trading volumes, and you don’t have to use an advanced trading platform for the platform’s lowest fees. For rehabilitation creditors of Mt. Gox, Bitstamp has announced a fixed 0.1% trading fee on all volumes for the first three months.
• Long history supporting cryptocurrency users: Bitstamp is one of the oldest exchanges, with over a full decade of cryptocurrency exchange history.

Cons Explained

• Limited list of supported currencies: Bitstamp only supports 80 cryptocurrencies, fewer than other major exchanges.
• Limited options for staking: Only two currencies are available for staking, with a top rate of 4.5% APR. Other exchanges offer more options and higher APRs for staking. Furthermore, this feature is not available to U.S. customers.
• No margin trading or lending features: Unlike some competitors, Bitstamp does not offer margin trading or lending features. 

Introduction

Bitstamp is one of the oldest cryptocurrency exchanges in operation and is also the first nationally licensed Bitcoin exchange in the world. It supports traders looking to buy and sell a list of 83 and counting cryptocurrencies with competitive trading fees. Users can choose to trade crypto with Bitstamp’s s🌼imple online trading platform, active trading platform, or mobile apps. While cryptocurrency trading is risky and volatile, Bitstamp does an excellent job of keeping customer accounts ꦚsecure while providing a user-friendly cryptocurrency trading and investing experience.

Company Overview

Bitstamp was launched in Slovenia in 2011. They have global offices in many key financial centers, including the UK, United States, Singapore, and Luxembourg. Bitstamp USA is based in New York. The exchange has over 5 million customers worldwide as of April 2023.

Through the Bitstamp platform, you can buy and sell over 80 popular cryptocurrencies, including Bitcoin, Ethereum, Uniswap, Litecoin, Stellar Lumens, and others. In the aftermath of FTX and Celsius, the exchange has disabled new orders and canceled existing orders for all FTT and CEL trading pairs. Bitstamp features both basic and 澳洲幸运5官方开奖结果体彩网:active trading platforms, though its relatively short list of currencies likely makes it better for beginners and c♎asual traders.

Cryptocurrencies Available on Bitstamp

Bitstamp currently supports a growing list of cryptocurrencies for spot trading. You can also deposit and hold U.S. dollars, British pounds, and euros. Here's a partial list of currencies available on the Bitstamp platform:

• Bitcoin
• Ether
• Uniswap
• Stellar Lumens
• Tether
• USD Coin
• Litecoin
• Chainlink
• Bitcoin Cash
• Gemini Dollar
• XRP
  

Trading Experience

Trade𓆉rs can use Bitstamp through three different platforms: Bitstamp.net, Bitstamp Tradeview, and Bitstamp Mobile. Trading fees are the same on all platforms.

Bitstamp.net

You can buy and sell on Bitstamp’s basic trading platform with instant, market, limit, and stop orders. You’re able to make a purchase from your Bitstamp balance or a connected card fo🌠r an added fee. The central platform includes a basic chart, current buy and sell offers outstanding, 🐷and a simple purchase form.

Tradeview

More advanced traders will likely want to navigate to Tradeview, Bitstamp’s active trading platform w🌱ith more advanced charting features, a live updated order book, depth chart, and quick trading forms. You get the same available order types on both the basic anꦦd Tradeview platforms.

Bitstamp Mobile

Bitstamp features mobile apps for Android and iOS devices available in the Google Play Store and App Store. Its apps includeꦏ a♈ll of the features you get with the primary Bitstamp Web-based trading experience for a pocket-sized trading experience. In addition to buying and selling anywhere you have a secure internet connection, you can use the Bitstamp app to send and receive crypto to store in a Bitstamp account.

Fees

Trading fees at Bitstamp start at 0.30% for regular trades for all pairs. This straightforward pricing is on-par with top competitors' pro platforms. Fees aren't the cheapes♔t around but are certainly not the most e♌xpensive.

Fees decrease if you trade more than $10,000 in vo💟lume over the prior 30-day period. Moreover, if you trade up to $1,000, there is no fee at all. 

If you use Bitstamp for staking, it takes a 15% commission on your earnings but doesn't charge any other fees. In addition to trading fees, you may run into these costs when funding and managing your account:

Security

Cryptocurrency transactions are one-way, so if your account is hacked or breached, your losses may not be recoverable. When using Bitstamp or any other cryptocurrency exchange, it’s important to use vigorous secur🐠ity practices, including a unique password and multi-factor authentication, ideally using an authenticator app.

Bitstamp uses strong security practices and stores the bulk of client funds offline in cold storage. When signing up for🅺 a new account, the platform allows you to set up and use multi-factor authentication for added ༒security. As with any other crypto exchange, it’s a good idea to use care when funding your Bitstamp account, withdrawing fiat currency or cryptocurrency, and handling any kind of account maintenance.

Opening a Bitstamp Account

Opening a Bitstamp account is a quick and easy process that takes about five to 10 minutes. To get started, you'll enter and verify your email address and set an account password. Choose a unique password to keep your account as secure as possible. Next, you'll be prompted to connect with a multi-factor authentication app like Google Authenticator.

To meet 澳洲幸运5官方开奖结果体彩网:Know Your Customer (KYC) requirements, you'll be prompted to upload an image of your photo ID and a short video of yourself reading a three-digit code. Once you submit your pictures and personal contact information, including a Social Security number, your account goes into a queue for review.

Once you receive your activation email, you can log in and fund your account using a bank account. You can also b🅘uy crypto directly with a debit card for an added fee or deposit crypto from an outside wallet to get started. Overall, the signup process is very similar to other cryptocurrency exchanges.

Customer Service

Bitstamp customer service is available by email. You can get phon♔e assistance as well by calling 1-800-712-5702 (for U.S. customers). There🌠’s also an extensive where you can read answers to common questions about opening and using a Bitstamp account.

Customer Satisfaction

Like most crypto companies, Bitstamp receives mixed feedback from current and past users. Complaints primarily focus on slow withdrawal times and poor customer service interactions. As with most cryptocurrency exchanges, Bitstamp support is limited and you should expect to handle most account needs yourself. If you’re not comfortable managing꧅ your account and don’t have experience with online trading, such as with a brokerage account, you may struggle with the learning curve when starting with Bitstamp.

Account Management

Y🧸ou can manage your Bitstamp account through a simple online dashboard that shows your portfolio contents, transaction history, current tradin๊g fee tier, and other account balances.

Through the dashboard, you can easily deposit funds via bank account, credit or debit card, or make cryptocurrency transfers and withdrawals. Note that Tradeview may have more limiꦐted account management features.

How Bitstamp Compares to Other Crypt✤ocurrencyꦜ Companies

Bitstamp’s combination of low trading fees and an easy-to-use platform makesꦅ it a good choice for a wide range of users. However, it o෴ffers a relatively small list of cryptocurrencies for trading and staking, which could be improved.

Bitstamp vs. Coinbase

Bitstamp and Coinbase both offer beginner-friendly platforms and a rang♔e of cryptocurrency services. Here’s a head-to-head comparison of several essen☂tial features:

Final Verdict

Bitstamp is a good option for beginner and intermediate traders and those with a more casual approach to crypto trading because it is secure, easy to use, and has reasonable fees. However, its lack of options and features may not be a fit for more serious traders.

Frequently Asked Questions

Is Bitstamp Better Than Coinbase?

Bitstamp and Coinbase are both good options for new traders with easy-to-use platforms and a range of cryptocurrencies. Coinbase offers over 250 currencies to trade, while Bitstamp has over 80 offerings. However, fees are lower with Bitstamp, and it may be a little ꧒less overwhelming (fewer cho♏ices) than Coinbase.

Can I Use Bitstamp In the US?

You can use Bitstamp anywhere in the world. If your bank is in the United States, you can quickly move funds into your bank account using 澳洲幸运5官方开奖结果体彩网:Automated Clearing House (ACH) to make deposits from your Bitstamp account electronically.

Does Bitstamp Have Fees?

Yes. Bitstamp has a 0.30% or less trade fee on transactions.

What Are the Cons of Bitstamp?

There are downsides to Bitstamp, like its limited number of supported cryptocurrencies compared to other major exchanges, and only two of the 80 are available for staking (only for customers outside of the U.S.), plus there are no margin trading or lending features.

Does Bitstamp Report to the IRS?

Bitstamp reports to the IRS and issues 1099-K and 1099-MISC forms to their customers using their platform.

Methodology 

Investopedia is dedicated to helping those interested in cryptocurrency investing make informed and safe decisions. We are committed to providing our readers with unbiased reviews of the 澳洲幸运5官方开奖结果体彩网:top cryptocurrency exchanges for investors of all levels.

Exchanges were reviewed on points including security, fees, number of cryptocurrencies available, and more. We also considered if the exchange is regulated by a proper agency or entirely decentralized. Our full 澳洲幸运5官方开奖结果体꧟彩网:cryptocurrency exchange methodology, including the review process and weighted data points, is available for review.