Bitstamp Exchange Review 2022 Regulated Crypto Platform

To determine crypto exchange rankings, we assessed the features and options offered by nearly 25 exchanges, trading apps and brokerage platforms that offer crypto trading options. Bitstamp also provides additional security measures to ensure the safety of accounts and customer assets. These include two-factor authentication (2FA) and address whitelisting.

Bitstamp is better for folks who directly want to trade crypto with other Bitstamp users. That puts it firmly in the middle ground of cryptocurrency apps and exchanges. It has a good number of cryptos and you won’t lack investing options, but there are some competitors that offer many more. This exchange offers a crypto staking program called Bitstamp Earn.

Please appreciate that there may be other options available to you than the products, providers or services covered by our service. The sum of weighted values across all or some of these key factors was calculated for each ranking to award each brokerage or exchange its overall rank. Margin trading, platform lending, and advanced trading were not considered for choosing the best crypto exchanges for beginners.

  1. Furthermore, as Bitstamp is regulated, customers can rest assured that their information is adequately secured.
  2. As a result, investors that want to trade large volumes of altcoins will need to use larger exchanges such as Coinbase or Binance to reduce slippage.
  3. The cryptocurrency exchange was initially based in the United Kingdom but later relocated to Luxembourg in 2016.
  4. It employs industry-standard security measures and technologies to keep client’s personal data safe and secure.

The BBB rates businesses from A+ to F, reflecting the bureau’s opinion of how well it believes a company interacts with its customers. Bitstamp adds another layer of protection with a crime insurance policy covering theft. Its insurance applies to theft when the exchange itself is breached, but it doesn’t cover your individual account if your login credentials fall into the wrong hands. Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website. Before you can even get started trading on Bitstamp, you have to go through the rigorous verification process (which usually involves proof of identification). The reason for this is Bitstamp’s commitment to certifications, and compliance with regulations and insurers.

Steps to Buy Cryptocurrency Instantly!

Once the trade is complete your account will be credited with the cryptocurrency you bought. You can then sell this late on the exchange, or you can transfer to an external wallet if you choose. After providing the required documents you also need to verify your phone number. This is done via SMS, with Bitstamp sending an OTP code to the phone number you provide.

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It simplifies the crypto buying process (register, fund, and trade) and provides a high level of security on its platform. Coinbase might be a fair comparison as the exchange allows users to buy cryptocurrencies with fiat and also offers fiat trading pairs. Coinbase does offer more trading pairs and has very similar fees. One concern among Coinbase users is the fact that the exchange is based in the USA, which means it has to follow the US state and federal law.

The platform also implements high encryption of personal data to prevent leaks. Furthermore, you can now whitelist addresses and transactions to prevent anyone without proper authorization from making transactions. In February 2014, the exchange suspended withdrawals after suffering a DDOS attack. Furthermore, in January 2015, the platform was hacked, and 19,000 BTC were stolen. All crypto deposits are free of charge, but withdrawals incur different fees depending on which crypto you will be withdrawing. The instant order type allows users to open and close trades in the shortest time possible.

It’s generally well-regarded in the community for its regulatory compliance and security measures. Deposits, withdrawals, and trading fees with Bitstamp are generally pretty cheap compared to most exchanges. The deposit fee for international wire transfers is just 0.05%, which is pretty low.

Bitstamp Pros and Cons

Bitstamp supports ten fiat currencies, and only three (USD, EUR, GBP) are usable as an account currency. While the range of supported fiat currencies could be improved, Bitstamp does offer a reasonable number of ways to deposit. Bank transfers via SEPA, Faster Payments, and ACH are supported, as are international wire transfers. Additionally, customers can use instant purchases via a bank card or Google/Apple pay, but there is a 4% charge for the privilege. Enterprise-level investors can access a 24/7 trade desk, advanced security, deep liquidity, and API connectivity through its institutional trading platform. This is ideal for hedge fund managers, enterprise investors, and even FinTech companies that want to create a custom crypto investing solution for their customers.

Bitstamp is a decent global cryptocurrency exchange for active retail investors to trade popular assets like bitcoin, ether, and dogecoin. However, the platform’s crypto selection is limited compared to competitor sites and some of the best features (like staking rewards and crypto-lending) isn’t available to US residents. Bitstamp has excellent security and is one of the safest cryptocurrency platforms. The exchange keeps 98% of assets offline in cold crypto storage. This is the most secure type of crypto storage, because offline storage protects funds from hackers. The small portion of funds that Bitstamp keeps in hot storage (connected to the internet) are used for everyday trading.

Bitstamp Earn and Staking

With 2FA, you are required to authenticate your login with a password and an additional verification method, like a code sent to your mobile device. Address whitelisting, on the other hand, allows you to designate specific addresses that are authorized to receive withdrawals from your account. There are over 50 cryptocurrencies to choose from for spot trading. Bitstamp charges very competitive fees compared to other cryptocurrency exchanges.

The Trustpilot Experience

Bitstamp is best for beginner crypto traders wanting to invest in multiple different cryptocurrencies on a secure and transparent mobile platform. It’s also a good option for institutions wanting to integrate crypto into their platforms. Bitstamp security measures include cold-wallet storage, crime insurance, access to a global banking network, and a withdrawal address whitelisting. This means that Bitstamp will always put the best interest of its clients before its own. You won’t find a longer-tenured crypto exchange than Bitstamp. Launched in 2011, it was one of the first crypto exchanges, and it has outlasted the competition to become the longest-running exchange.

In contrast, Bitstamo only offers staking options for ETH and ALGO. First of all, all traders must verify their accounts before making any deposits or trades. Moreover, the minimum order size for opening trades on Bitstamp is 10 EUR/GBP/PAX/USD/USDC/USDT for EUR/GBP/PAX/USD/USDC/USDT-denominated trading pairs. A market order allows the traders to buy or sell their preferred cryptocurrency at the current market price. The market order type lets the trader set the amount of cryptocurrency they want to spend.

The spot trading option allows traders to use the different order types mentioned previously to make successful trades. Spot trading also offers a trading chart for traders to analyze their trades before placing their orders. Furthermore, as Bitstamp is regulated, customers can rest assured that their information is adequately secured. As Bitstamp denominates its trading pairs in USD, GBP, EUR, ETH, BTC, and PAX, the range of markets available to trade is significantly better than the supported cryptocurrencies. Users can trade 175 markets on Bitstamp, more than exchanges like Gemini but fewer than platforms such as There are no deposit limits for transfers from a bank account.

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