Best Cryptocurrency Exchange Fees

Bitstamp Review 2022

Bitstamp Review 2022
Written by publisher team

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Pros explained

  • User-friendly platform: Bitstamp offers a simple and easy to use platform that makes it easy to buy and sell cryptocurrencies.
  • Competitive fees on the main platform: Fees start at 0.50% and go down with higher trading volumes, you don’t have to use an advanced trading platform to get the lowest platform fees.
  • Long History Supporting Cryptocurrency Users: Bitstamp is one of the oldest exchanges, with a full decade of cryptocurrency exchange history.


Cons explained

  • Limited list of supported currencies: Bitstamp supports only 45 currencies, less than other major exchanges.
  • Limited storage options: Only two coins are available for storage, with a higher interest rate of less than 6% APR. Other exchanges offer more options and higher stock APRs.
  • No margin trading or lending features: Unlike some competitors, Bitstamp does not offer margin trading or lending features.


an introduction

Founded in 2011, Bitstamp is one of the oldest cryptocurrency exchange platforms in operation. Today, it supports traders looking to buy and sell a list of 45 cryptocurrencies with competitive trading fees. Users can choose to trade cryptocurrencies using Bitstamp’s simple online trading platform, active trading platform or mobile apps.

While cryptocurrency trading is risky and volatile, Bitstamp does an excellent job of keeping clients’ accounts secure while providing an easy-to-use cryptocurrency trading and investing experience.

As with any cryptocurrency exchange, Bitstamp may expose you to volatile and high-risk assets. Invest with caution.


Company Profile

Bitstamp was launched in Slovenia in 2011. The exchange expanded to the UK in 2013, Luxembourg in 2016, and now operates multiple global offices. Bitstamp USA is headquartered in New York. The exchange now has more than 4 million clients around the world.

Through the Bitstamp platform, you can buy and sell 45 of the most popular cryptocurrencies, including Bitcoin, Ethereum, Uniswap, Litecoin, Stellar Lumens, and others. Bitstamp features both basic and active trading platforms, although its relatively short list of coins will likely make it better for beginners and casual traders.


Cryptocurrencies are available on Bitstamp

Bitstamp currently supports a growing list of cryptocurrencies for spot trading. You can also deposit and hold USD and EUR. Here is a partial list of currencies available on Bitstamp:

  • Bitcoin
  • ether
  • Uniswap
  • Excellent lumen
  • pregnancy
  • USD . coin
  • Litecoin
  • chain link
  • Bitcoin Cash
  • Gemini dollar
  • Ripple (not available in the US)


Trading experience

Traders can use Bitstamp through three different platforms: Bitstamp.net, Bitstamp Tradeview, and Bitstamp Mobile. Trading fees are the same on all platforms, which is not the case for some competitors like Coinbase.

The trading fees are the same on Bitstamp and Tradeview, so you can use whichever platform suits you the most and not have to worry about paying more.

Bitstamp.net


Stellar Lumens trading page at Bitstamp.

You can buy and sell on Bitstamp’s core trading platform with spot, market, limit and stop orders. You can make a purchase from your Bitstamp balance or from a connected card for an additional fee. The central platform includes a basic chart, pending current buy and sell offers, and a simple buy form.

Tradeview

More advanced traders will likely want to migrate to Tradeview, Bitstamp’s active trading platform with more advanced charting features, live updated order book, depth chart, and quick trading forms. You get the same types of orders available on both the platform and Tradeview platform.


Tradeview offers advanced charting tools and other features.

Bitstamp Mobile

Bitstamp features mobile apps for Android and iOS devices that are available on the Google Play Store and App Store. Its apps include all the features you get with a basic Bitstamp web 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 it in your Bitstamp account.


Outlay

Bitstamp trading fees start at 0.50% for regular trades of all pairs. This direct price is on par with the professional platforms of the major competitors. The fees are not the cheapest but certainly not the most expensive.

The fee goes down if you traded more than $10,000 in volume in the previous 30-day period. High-volume traders can see fees drop as low as 0% on volumes of $20 million per month or more.

If you use Bitstamp for storage, it takes 15% of your earnings but does not charge any other fees. In addition to trading fees, you may incur these costs when funding and managing your account:

Payment method or payment Bitstamp Fee
US dollar wallet There are no additional fees
Debit / Credit Card 5%
ACH . conversion no charge
wire transfer 0.05% deposit fee, 0.1% withdrawal fee
Cryptocurrency exchange 0.50% or less
Purchases 0.50% or less
character 0.50% or less
Any other fees mentioned Fees apply when withdrawing cryptocurrency to an external wallet


protection

Cryptocurrency transactions are one-way, so if your account is hacked or hacked, your losses may not be recovered. When using Bitstamp or any other cryptocurrency exchange, it is important to use strong security practices, including a unique password and multi-factor authentication, ideally with a third-party authenticator app.

Bitstamp uses strong security practices and stores the bulk of client funds offline in cold storage. When you sign up for a new account, the platform requires you to set up and use multi-factor authentication for added security.

As with any other crypto exchange, it’s a good idea to be careful when funding your Bitstamp account, withdrawing fiat or cryptocurrency, and dealing with any kind of account maintenance.


Open a Bitstamp account

Opening a Bitstamp account is a quick and easy process that takes about five to ten minutes.

To get started, you have to enter and verify your email address and set a password for the account. Choose a unique password to keep your account as secure as possible. Next, you will be asked to connect to a multi-factor authentication app such as Google Authenticator.

To meet your Know Your Customer (KYC) requirements, you will be required to upload an image of your Photo ID along with a short video of you reading a three-digit code. Once you submit photos and personal contact information, including your Social Security number, your account goes to a queue for review, which takes about 5 to 15 minutes.

While cryptocurrency is known to be semi-anonymous, your activity on Bitstamp and other exchanges that require a Social Security number may be reported to the IRS.

Once you receive your activation mail, you can log in and fund your account using a bank account. You can also buy cryptocurrencies directly with a debit card for an additional fee or deposit cryptocurrencies from an external wallet to get started.

In general, the registration process is very similar to other cryptocurrency exchanges.


Customer service

Bitstamp’s email customer service is available 24/7, and you can get 24/7 phone assistance as well by calling 1-800-712-5702 (for US customers). There is also a comprehensive Help section where you can read answers to frequently asked questions about opening and using a Bitstamp account.


customers satisfaction

Like most crypto companies, Bitstamp receives mixed feedback from current and past users. Complaints mainly focus on slow checkout times and poor interactions with customer service.

As with most cryptocurrency exchanges, Bitstamp support is limited and you should expect to handle most account needs on your own. If you are not comfortable managing your account and do not have experience with online trading, such as a brokerage account, you may struggle with the learning curve when getting started with Bitstamp.


Account management

You can manage your Bitstamp account with a simple online dashboard that displays your wallet contents, transaction history, current trading fee layer, and other account balances.


Bitstamp cryptocurrency withdrawal form.

Through the dashboard, you can easily deposit funds via a bank account, credit or debit card, or make transfers and withdrawals for cryptocurrency. Note that Tradeview does not include any account management features other than entering and tracking trades and orders.


How Bitstamp Compares To Other Cryptocurrency Firms

Bitstamp’s combination of low trading fees and an easy-to-use platform make it a good choice for a wide range of users. However, it offers a relatively small list of cryptocurrencies to trade and risk, which could be improved.

Bitstamp vs Coinbase

Bitstamp and Coinbase both offer beginner-friendly platforms and a range of cryptocurrency services. Here is a head-to-head comparison of several key features:

Bitstamp Queen Piece
Trade Fee 0.50% or less Transaction fees plus 0.50% price difference on the main platform
Currencies available for trading 45 100+
Coins available for storage 2 6
Customer Service Options Help page, email Help page, email ticket, phone, chatbot

Read our full Coinbase review for more information.

Final verdict

Bitstamp does a good job of making it easier to buy and trade cryptocurrencies while keeping fees reasonable. It would be great to see an expanded list of currencies and a more powerful active trading platform. Bitstamp’s lack of options and features may cause active traders to look elsewhere.

But for beginner and intermediate traders and those who take a more casual approach to cryptocurrency trading, Bitstamp may be a good choice. If you are looking for a safe option to quickly buy cryptocurrency and manage a basic crypto wallet, Bitstamp is well worth considering.


methodology

Investopedia is dedicated to helping those interested in investing in cryptocurrency make informed and secure decisions. We are committed to providing our readers with unbiased reviews of the best cryptocurrency exchanges for investors of all levels.

Exchanges are only considered for review if they are safe, secure, liquid and either regulated by an appropriate agency or fully decentralized.

Correction, Dec 10, 2021 – A previous version of this article indicated that Bitstamp does not have 24/7 phone support.


Investopedia requires writers to use primary sources to support their work. These include white papers, government statements, original reports, and interviews with industry experts. We also refer to original research from other reputable publishers where appropriate. You can learn more about the standards we use to produce accurate and unbiased content in our editorial policy.

  1. Bitstamp. Fee Schedule. Accessed November 12, 2021.

  2. Bitstamp. Markets. Accessed November 12, 2021.

  3. Bitstamp. Is it safe to use Bitstamp? Accessed November 12, 2021.

  4. Trustpilot. “Bitstamp.” Accessed November 12, 2021.



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