You’ve probably interested in Bitstamp, so we’ve covered everything you need to know about Bitstamp and its features. Let’s dive in!
Bitstamp was the first platform to facilitate transactions in virtual currencies. The company was founded in 2011 by Damijan Merlak and Nejc Kodrič and is one of the leading cryptocurrency exchanges in Luxemburg.
Bitstamp values quality above quantity and offers a pleasant user experience. It’s among the best choices for users from the E.U. You can trade Bitcoin, Ethereum Ripple and Litecoin or Bitcoin Cash.
Bitstamp Overview: An Introduction
It allows you to buy cryptocurrencies with fiat currencies like USD or EUR. The platform offers a variety of cryptocurrency services for both individuals and businesses. It has high liquidity and reliable order execution. Bitstamp also allows you to withdraw or deposit funds in USD, EUR, Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, SEPA, and international bank transfer. Bitstamp allows you to buy cryptocurrency using your credit card, debit card or bank account. Bitstamp fees usually cost 0.5%, but depending on how much you sell, they can drop to 0.15%.
Continue reading to learn more about our Bitstamp ReviewLearn all you can about this exchange platform.
Bitstamp’s Origin
Bitstamp exchange was founded in 2011 by two friends, Nejc Kodrič and Damijan Merlak, in their native Slovenia. Bitstamp competed with Mt. Gox, the largest cryptocurrency exchange in the industry’s early days. It did, however, have security issues – Mt. Gox suffered a hacker attack in June 2011. It was declared bankrupt by Mt.
Kodric & Merlak set out to make a reliable and safe exchange. They are very secure, thanks to cryptocurrencies. The exchanges that trade them, on the other hand, aren’t necessarily trustworthy. So, Bitstamp’s founders intended to correct this.
Bitstamp relocated some operations to London in 2013. Kodric, Merlak wanted to have their exchange in central European banking. However, the U.K. didn’t have the regulations needed for the sale of cryptocurrency.
According to the duo, one of the significant issues with cryptocurrency trading was that it wasn’t well-regulated. The lack of regulations for cryptocurrency trading platforms meant that they were not able to comply with them. Companies that adhere to the rules are trusted by customers. Bitstamp therefore searched for a country with rules.
Bitstamp received advice from David Marcus (ex-head of PayPal), to think about Luxembourg. Merlak and Kodric had meetings with Luxembourg’s government in early 2016. So, by April, Bitstamp had become the world’s first nationally licensed crypto exchange. This meant that Bitstamp would follow Luxembourg’s financial laws. This also means that Bitstamp is now licensed in 28 European Union countries.
Bitstamp has since formed partnerships with financial institutions worldwide, among them Swissquote, Crédit Agricole, and the Chicago Mercantile Exchange. The exchange has become one of most popular and respected crypto exchanges.
Bitstamp has become very popular
Bitstamp, which is currently the 11th largest and best crypto exchange in the world, accounts for about 1%. Bitstamp has operations in 60 countries. This includes New Zealand, Brazil and South Korea.
Now, let’s talk about how Bitstamp exchange works.
Some Outstanding Bitstamp Features
- Instant deposit:Bitstamp allows instant deposits which can save you time as well as money. With your credit card, you can immediately deposit money to your account. Then start trading.
- Confirmation of transactions:Bitstamp sends push notifications which notify you as soon as a transaction occurs. It ensures you are always up to date with your digital asset collection. Notifications are available via email, text message or mobile app.
- Online storage of assets: Bitstamp provides a “pretty good privacy” (PGP) data encryption policy to ensure that your assets are stored safely and securely online. Data encryption encrypts data using a combination of letters and numbers that requires a PGP encryption key in order to unlock it.
- WhitelistingWith its robust whitelisting capability, the platform protects your data. The platform allows you to make a trusted list to which you can send assets. So the service won’t transfer your assets to hackers, but it will protect you funds.
You can customize: Bitstamp enables you to customize the program to suit your business needs with API capabilities that allow you to alter the product’s source code and establish integrations with external software services for a more unified work experience.
Bitstamp supports crypto exchanges
The following are some of the cryptocurrency exchanges:
- Binance
- Bitfinex
- bitFlyer
- Bithumb
- BitMEX
- Bitso
- Bitstamp
- BTCC
Below are some of the more popular cryptocurrencies Bitstamp can support. The Bitstamp website also has a complete listing of cryptocurrency.
- Bitcoin
- Litecoin
- XRP (Ripple).
- Ethereum
- Bitcoin Cash
- XLM
- ALGO
- Link
- USD Coin
- OMG Network
- PAX
Bitstamp’s trading pairs include:
- EUR/XRP
- BCH/BTC
- XRP/BTC
- LTC/EUR
- EURO/ETH
- BTC/ETH
- LTC/BTC
- USD / BTC
- BTC/EUR
- USD / BCH
- BCH/EUR
- USD/XRP
- LTC/USD
- USD/ETH
Bitstamp Trading Fees
Bitstamp is free to download and use. However, it charges fees for every withdrawal and transaction that crypto traders make using the product. There are different fees charged by Bitstamp for depositing and trading as well as withdrawing money. They also change depending on which payment method you’re using and where you live, so let’s have a look:
- Purchases with credit cards: For every credit card purchase, a fee of 5% is charged.
- Deposit card withdrawal feeIf you withdraw money using your debit card, there is a minimum of $10 charge.
- SEPA FeesAnyone who lives within the European Union, and has Euros in their possession, will be subject to SEPA (Single Euros Pay Area) fees. SEPA deposits are available for free. For withdrawals, a fee of 3 EUR is assessed.
- Transmit international wires:International wire transfers have a deposit fee of 0.05%. This is quite low. For withdrawing funds via international wire transfer, a fee of 0.1% will be charged.
- Commissions for tradingTrades below $10,000 incur a 0.5% fee. Fees for larger trades are lower, so trades greater than $10,000,000 will only be charged 0.1%.
- Cryptocurrencies: Bitstamp makes it easy to make deposits or withdrawals with the cryptocurrency you choose.
Advantages of Bitstamp Platform – Let Us Look at Some Positive Sides in This Bitstamp Review
Fiat Trading Bitstamp allows you to buy cryptocurrency with fiat currencies such as the Russian Ruble, Chinese Yuan, and the U.S. dollar (USD).
Bitstamp allows you to trade in fiat currencies such as the U.S. dollar (USD) or the Euro (EUR). You can also use Swiss Francs and British Pounds on Bitstamp, but you won’t be able to trade with them. You can then trade with them by converting the USD into EUR or USD.
Security Bitstamp’s 2015 hack resulted in the theft of 19000 bitcoins (BTC), worth approximately 5 million dollars. Many people were curious about this hack. Is Bitstamp safe?
Any trading platform can be hacked. Bitstamp handled the hack well. In 2015’s hack, customers were not able to access their funds and the entire platform was rebuilt in order to stop it happening again.
Bitstamp has many benefits for its users Two-factor verification You can also receive text messages alerts. Bitstamp can also use PGP Pretty Good PrivacyTo keep all information submitted by users confidential.
Let’s find out if Bitstamp is legit. Bitstamp worked tirelessly to be one of the safest exchanges in the world. Most of the funds it holds are in safe custody. Storage in cold The funds of Bitstamp are fully insured. Many Bitstamp reviews indicate that this is one of most trusted and legitimate trading platforms.
Payment Methods Bitstamp lets you deposit funds to your account with bank transfers or credit cards. Some platforms don’t support credit card payments. Bitstamp’s payment method options make trading easier.
Bitstamp Customer Support:Bitstamp has a very good customer support. The company responds within 3 days to all user email. It also has an emergency helpline in the UK. If you need to contact Bitstamp, you’ll need to call the Bitstamp support You can email the team. Furthermore, you can find a detailed FAQ page on Bitstamp’s website.
There are fees Bitstamp fees are pretty low compared to other exchange platforms’ fees. They are also easy to comprehend, making it easier for newbies to use the trading interface. As mentioned above, fees change based on your payment method (credit or debit card) and where you live. Bitstamp has two types of account, corporate and personal, with different fees. Trading fees for individuals are calculated based upon the USD trading volume of 30 days and decrease as trading volume increases.
Bitstamp Mobile Application:The Bitstamp App is rated 4.8 out 5 by the Apple Store. It’s a great rating!
Reputation:Bitstamp has a reputation that is unmatched by other cryptocurrency exchanges. Bitstamp is trusted and highly professional. The platform is connected to many financial institutions around the world. It is wholly licensed and has been audited by Ernst & Young, a Big Four Accounting company. This is a great job for traders.
Downsides of Bitstamp – Let Us Look at Some Negative Sides in This Bitstamp Review
User-friendliness: Bitstamp, a professional trading platform platform can prove confusing for newbies. While this platform may seem complex to some, its design and functionality is impressive. Coinbase should be preferred over Bitstamp because it is easier for beginners to trade crypto currencies.
Choose the right coinThere are only five cryptocurrencies that can be traded on the platform. There are five cryptocurrencies available for trading on this platform: Bitcoin Cash (BCH), Bitcoin Cash (BTC), Litecoin(LTC), Ripple [XRP], and Ethereum (ETH).
As a beginner, this isn’t a problem, but advanced traders would prefer a better selection. Bitstamp offers only 11 options trading pairsYou can find more information at www. For comparison, Binance, for instance, has over 100.
Bitstamp doesn’t offer leverage or margin trading for trading with cryptocurrency.
You are now ready to trade crypto with Bitstamp.
How to sign Trade in Bitstamp – Sign up now
To get started with Bitstamp, follow our step-by–step guide.
Step 1. Create a Bitstamp profile
Go to Bitstamp and click Register. Next, enter some personal information such as your legal name and email address. This information will be used to confirm your identity.
Step 2: Verify your email account
You’ll need to validate your email address before moving on to the next step of the registration process. You will need to go into your inbox, and then click on the Bistamp verification link. You’ll be given your unique account I.D. once you’ve done so. Make a note of it and save it somewhere safe since you’ll need it to log in to your Bitstamp account. You’ll also need to create a secure password.
Step #3: Boost your account’s security
Enable two-factor authentication (2FA) to enhance the security and safety of your Bitstamp bank account. You will need to input a code that is sent to you by your mobile phone every time you withdraw money or log in to Bitstamp. You’d have to download Google authenticator and add the key. You can activate your email confirmation to further enhance account security.
Step 4: Verify your identity
Bitstamp has one of the easiest verification processes, but before you begin, make sure you have all the relevant documents (a government-issued photo I.D., such as a passport or driver’s license, a copy of your proof of residence. It would suffice to have a utility bill with your name on it, or a bank account.
To begin, log into your Bistsamp account and select “verify account.” Unless you are a business client, choose personal account verification.
You’ll have to wait for Bitstamp to confirm your documents after you’ve completed the verification steps. Once your account is validated, you can deposit fiat currencies.
Step #5: Make a deposit
Click ‘deposit’ on the top of the screen and select a payment method.
Enter the desired deposit amount, and click ‘confirm.’ If you pay with a debit or credit card, your Bitstamp account should be credited immediately.
Step 6: Invest In Cryptocurrencies
A credit card is the best way to start your crypto trading career. Simply click the Buy/Sell symbol and select Credit Card Purchases. Once you’re on the trading page for the cryptocurrency you want to buy, simply enter the amount you wish to trade, and choose whether you want to purchase or sell.
Bitstamp is a Regulated Stock Exchange
Bitstamp received a Luxembourg Commission de Surveillance du Secteur Financier license for payment institutions.
Cold storage of Bitstamp
You’ll need to be able to access your cryptocurrency now that you’ve purchased it. The code used to access cryptocurrency is stored in wallets. Bitstamp allows you to use your wallet as a cryptocurrency exchange. Bitstamp provides both. Hot Cold Storage
A combination of hot and cold storage is best. A hardware wallet is recommended. The Ledger NanoS is a well-known hardware wallet.
Note: A wallet has public and Private keys. Your public key can be shared with anyone. They can also send you crypto currency. You should not give your private keys to others.
Bitstamp Works Best For
Bitstamp offers a safe and reliable platform that has thousands of satisfied users. It may be difficult to use for beginners. Bitstamp’s professional design and functionality are great for more experienced users, but they might be confusing for newbies.
However, if you’re a beginner who likes challenges and learning new things, then Bitstamp could be a great place to start your crypto adventure.
Bitstamp also offers credit card purchase and fiat trading. It makes it easy to get started.
Conclusion
Bitstamp, an intuitive platform that lets users trade cryptocurrency coins in a safe and secure way is Bitstamp. The platform allows you to easily buy crypto coins using your credit card. It also protects your investment with data encryption, whitelisting and strong data encryption. Bitstamp may be the right choice for you if you’re looking for cryptocurrency exchange software that is fully customizable and supports APIs.
However, while Bitstamp is one of the popular cryptocurrency exchanges, you need to answer for yourself if it’s the right platform for you.