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Bitstamp Review

A Well-Regulated Crypto Exchange with 10+ Years Experience

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Overall Rating

4.3/5

FAST FACTS

Fees: Up to 0.5% Trading Fee

Best For: Excellent Licensing and Regulation

Warning: Trading in cryptocurrency is highly speculative and carries a high level of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose.

Bitstamp was founded in 2011 and is one of the longest-standing cryptocurrency exchanges in the industry. Based in Luxembourg, the company offers services to traders in over 100 countries including the United States although some states including Alabama, Hawaii, Idaho, Louisiana, Nevada, and New Jersey are restricted. 

The exchange now has more than 4 million users worldwide and offers a wide range of cryptocurrencies to choose from. In this review, we take a closer look at all the key aspects of Bitstamp in order to offer the most insight possible when making your trading selection.

Pros

  • Longstanding reputation
  • Easy to use trading platform
  • Free ACH deposits and withdrawals
  • Excellent customer support

Cons

  • Limited range of assets available
  • Relatively high trading fees

Trust

4.7/5

As one of the longest-running exchanges in the world, Bitstamp has already garnered a very trusted reputation among traders industry-wide. To back this up, the company has a number of licenses in place including a “payment institution license” in the EU under their European entity and a BitLicense in the US under their US entity as well as being regulated by the CSSF in Luxembourg since 2016.

When it comes to trading security, this is an area BitStamp has really focused on in recent years. A number of protective measures are in place including keeping as much as 95% of assets in cold storage offline and having all assets fully insured. The company also uses 2FA alongside email confirmation of withdrawals. Multi-signature hot wallets are also used and the firm is routinely audited by one of the “big four” accounting firms to ensure compliance. 

These steps demonstrate that Bitstamp treats user security with the utmost respect and seriousness and is willing to do what is necessary to provide the most possible protection.

Investment Products

4.2/5

There are over 50 cryptocurrencies to choose from for spot trading. This is not the largest selection when compared with some other major crypto exchanges, but still provides a good deal of choice for the majority of traders with new cryptos also being added periodically. 

Some of the most popular assets you can expect to find include:

Bitcoin (BTC), Ethereum (ETH), Uniswap (UNI), Litecoin (LTC), Solana (SOL), Tether (USDT), Cardano (ADA), Bitcoin Cash (BCH), SushiSwap (SUSHI), Chainlink (LINK), Polygon (MATIC), Stellar Lumens (XLM), Aave (AAVE), Gemini Dollar (GUSD), and Celsius (CEL). 

All available assets can be paired with USD, EUR, GBP, and BTC. Ripple (XRP) is also available to trade at the exchange but not for US users. With an average daily volume of more than $2 billion across all assets, traders can be sure of good liquidity in all of the markets offered.

Most importantly, unlike some competing exchanges they don’t list every token under the sun, instead they focus on choosing the best and most legitimate projects.

Commissions and Fees

3.9/5

Starting with trading fees, these operate on a tiered basis at Bitstamp. The fee you will pay depends on your trading volume. For those who trade less than $10,000 monthly, the fee will be 0.5%. More than $10,000 but less than $20,000 monthly trade volume and the fee is 0.25% with further decreases as volumes increase. The fee structure is simple in this regard even though trading fees tend to be a little higher than some other major exchanges. 

There are also some other fees to consider. Making a deposit or withdrawal for US traders by ACH transfer using your bank account is free, so too are SEPA transfer deposits in Europe with a 3 EUR fee on withdrawals. There are charges in place though for making deposits and withdrawals via other methods. 

A 5% fee is in place when using your debit or credit card while other international wire transfers attract a deposit fee of 0.05% or a withdrawal fee of 0.1% with a minimum of $7.50 and a maximum of $300. There is also a minimum $25 fee on outgoing transfers. Bitstamp is not the cheapest when it comes to fees and charges, but many options are available.

Trading Platforms

4.4/5

The trading experience at Bitstamp is intuitive and user-friendly with something to offer both new and more experienced crypto traders. There is the standard Bitstamp web-based trading platform which can be accessed through your browser and offers all of the available assets to trade and instant, market, limit, and stop orders. This is combined with basic charting and indicators to provide a positive and in-depth enough experience for most traders on the exchange. 

BitStamp Tradeview then offers a more detailed and in-depth experience for active traders or those with more experience who want to make use of more advanced charting features, a depth chart, and a live order book as well as some additional features. All the same order types are available as with the standard trading platform.

Mobile trading with Bitstamp is also available through their mobile trading platform which is accessible both on iOS and Android. This mobile platform functions well and provides all of the features and capabilities of its web-based counterpart.

Customer Support

4.4/5

Bitstamp with all its years of experience does well in offering several customer support options. These include a well-resourced FAQ page that is available to answer most of your questions related to the service. 

If you can’t find the answer here, then the company also offers direct email support through support@bitstamp.net and complaints@bitstamp.net. This service is available 24/7. They also offer a phone support service with numbers in the UK, US, and Europe. There is no live chat function available from the exchange.

Summary

4.3/5

Overall, as a highly experienced exchange, Bitstamp provides a thorough and user-friendly trading environment that is secure and with enough choice to satisfy most traders. The global nature of the company and the trusted regulation and licensing put in place is also a positive aspect for many new or experienced users. 

Though the fees on trading and other charges may be a little higher than some competing companies, the overall experience is positive, and with Bitstamp continuing to develop and grow year on year, they are almost certain to remain as one of the major names in the industry going forward.

Founded in 2011, Bitstamp is one of the oldest & most trusted exchanges in the world. They currently accept Canada, UK & USA residents excluding the states of Alabama, Hawaii, Idaho, Louisiana, Nevada, & New Jersey.

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ESMA: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Investment advice disclaimer: The information contained on this website is provided for educational purposes, and does not constitute investment advice.

Trading Risk Disclaimer: There is a very high degree of risk involved in trading securities. Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies.

This risk is higher with Cryptocurrencies due to markets being decentralized and non-regulated. You should be aware that you may lose a significant portion of your portfolio.

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