Bitstamp Review 2023

Bitstamp Review: Our rating for Bitstamp exchange is 3/5.

Bitstamp is among the oldest crypto exchanges founded in 2011, offering a user-friendly platform and very competitive trading fees. Though Bitstamp has limited crypto selection and lacks advanced features, it’s more than enough to satisfy beginners.

What is Bitstamp?

Founded in 2011, Bitstamp is one of the oldest crypto exchanges in operation, and is also the first nationally licensed Bitcoin exchange in the world. Bitstamp could be a great choice for people who are just starting out in the world of crypto. It offers access to the leading cryptocurrencies and many popular altcoins.

Based in New York, the exchange now has global office in many key financial centers including, the UK, United States, Singapore, and Luxembourg, with over 4.4 million customers worldwide.

Today, it supports more than 80 popular cryptocurrencies with competitive trading fees. Users can choose to trade crypto with Bitstamp’s simple online trading platform, active trading platform, or mobile apps.

Bitstamp Review – Pros & Cons

Pros

• Easy-to-use platform
• Competitive fees
• Long operation history

Cons

• A limited list of supported currencies
• Limited options for staking
• No margin trading or lending features

What Makes Bitstamp a Good Choice?

With over a full decade of exchange history, Bitstamp is one of the oldest crypto exchanges, offering a user-friendly platform and very competitive trading fees.

While Bitstamp’s offering of 80+ cryptos might be a smaller selection than some other exchanges, it’s more than enough to satisfy beginners. And though the platform does not support sophisticated investing strategies, such as margin trading, it does a good job offering basic services and reasonable fees.

These include an easy-to-use instant buy platform and a range of advanced order types that may appeal to more senior traders looking to take advantage of short-term price fluctuations.

• Instant order.Executes immediately at the current market price.
• Limit order. Set a price at which you would prefer to buy or sell a specific cryptocurrency.
• Market orders. Buy or sell at the best available market price.
• Stop orders.Set an entry or exit price point for your trades to limit potential losses stemming from sudden price fluctuations.
• Trailing stop orders. More flexible than a stop order, offers a “trigger price” to stop the order.
• Fill-or-kill orders. Buy or sell the exact amount of crypto at the exact price you specified.

Bitstamp provides phone support, which is pretty rare among other crypto exchanges. If being able to speak with a support agent on the phone is important to you, give Bitstamp a second look.

If you prefer text-based customer support, you may be better served elsewhere. Bitstamp offers no live chat support, but you can send a ticket via email.

What Could Be Improved?

Bitstamp only supports about 80 cryptocurrencies, fewer than other major exchanges. Besides, there is a very short list of coins supported for staking. In fact, only two currencies are available for staking – namely Ethereum (ETH) and Algorand (ALGO), with a top rate of 4.5% APR. Other exchanges offer far more options and higher APRs for staking. Furthermore, this feature is not available to U.S. customers.

Lastly, the platform lacks many more advanced trading features. Unlike some competitors, Bitstamp does not offer margin trading or lending features, which may not be suitable for those seeking an advanced trading experience.

In addition, Bitstamp is not well rated on security ranking site CER.live. The site gave Bitstamp a BB ranking—the highest rating is AAA. To put that into perspective, Bitstamp doesn’t hold a spot among CER’s top 50 best ranked cryptocurrency exchanges.

Alternatives to Consider

If you want to trade on exchange with more advanced features, such as futures trading with high leverage: BTCC has a decent selection of crypto futures and offers high leverage up to 100x for perpetual futures. BTCC is also a good choice if you want to diversify your investments to include stocks, commodities, and crypto.

Founded in 2011, BTCC is one of the world’s longest-running and best known exchanges with over 11 years of stable and secure operating history focused on the Bitcoin and Ethereum trading. BTCC offers trading service in US, Canada, and many other countries in Europe.

Sometimes, users feel more comfortable working with an exchange if they know that the exchange has a footprint in the industry. BTCC has over 1 million registered users, and it has a trade volume (24H) of $12.28 billion.

Here are some key reasons why BTCC is also a good choice for you:

• Safe & Secure

BTCC places strong emphasis on security, offering multiple strict measures to ensure the safety of user assets, with no reported hacks or security breaches to date.

• High Liquidity & Volume

One of the largest crypto futures exchange by volume and open interest, dominating the derivatives sector with huge market share.

• High Leverage for Crypto Futures Trading

BTCC offers a wide range of popular trading pairs such as BTC/USDT, ETH/USDT, ADA/USDT with high leverage up to 100x.

• User-Friendly

Simple user-friendly interface and intuitive trading platform, ideal for both beginners and advanced users. It also offers a range of educational resources and market updates to help users expand their understanding of the crypto and trade more easily.

• One-Stop Trading Platform

Apart from large crypto selection, BTCC also supports tokenized futures, allowing users to trade stocks and commodities futures with USDT. With the integration of spot and futures markets, BTCC offers a complete ecosystem to fully utilize crypto/stock/commodity assets and manage portfolio risks.

BTCC Review 2023

If you want a U.S. based full-service crypto exchange: Headquartered in the U.S., Gemini is easy to use and offers a good range of cryptocurrencies, trading features, staking, and rewards.

Bitstamp Review: 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.

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 for 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 with 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 and Tradeview platforms.

Tradeview offers advanced charting tools and other features.

Bitstamp Mobile

Bitstamp features mobile apps for Android and iOS devices available in the Google Play Store and App Store. Its apps include all 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.

Range of coins

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 (Not available in the U.S.)

For a full list of the cryptocurrencies available on Bitstamp, see the company’s Markets page.

Bitstamp Fees

Trading fees at Bitstamp start at 0.40% for regular trades for all pairs. This straightforward pricing is on-par with top competitors’ pro platforms. Fees aren’t the cheapest around but are certainly not the most expensive.

Fees decrease if you trade more than $10,000 in volume over the prior 30 day period. High-volume traders can see fees drop to as low as 0% on volumes of $20 billion per month or more. Moreover, if you trade up to $1000, there is no fee at all.

If you use Bitstamp for staking, it takes 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:

Bitstamp Review: Is Bitstamp Safe?

Regardless of your experience level or your crypto platform of choice, you should be cautious when investing in crypto. Crypto exchanges have some unique security concerns you don’t typically face with traditional banking platforms.

When using Bitstamp or any other crypto exchange, it’s important to use vigorous security practices, including a unique password and multi-factor authentication, ideally using a third-party authenticator app. Always exercise caution when funding your crypto account, withdrawing fiat currency or cryptocurrency, and handling any kind of account maintenance.

Bitstamp experienced a hack in 2015 when a phishing scheme led to the theft of nearly 19,000 Bitcoin (BTC), worth around $5 million at the time. Bitstamp reimbursed users for any losses and appears to have improved its security.

As part of improved security, Bitstamp keeps the bulk of client funds offline in cold storage and all assets are insured against many crime-related cases.

That said, Bitstamp still ranks on the lower side of crypto exchanges in our review regarding security as determined by crypto exchange security evaluator CER.

What are the User Reviews on Bitstamp?

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.

Bitstamp Review: How Bitstamp Compares to Other Crypto Exchanges

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 for trading and staking, which could be improved.

Bitstamp vs Coinbase

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

Read our full Coinbase review.

Bitstamp Review: Final Verdict

Bitstamp does a decent job of making it easy to buy and trade cryptocurrency 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 could result in active traders looking elsewhere.

But for beginner to intermediate traders and those with a more casual approach to crypto trading, Bitstamp may be a good choice. If you’re looking for a long-running and low-fees exchange to buy cryptocurrency quickly and manage a basic crypto portfolio, Bitstamp is worth considering.

As we mentioned earlier, another great choice is BTCC, which has much more advanced trading features such as futures trading and leveraged trading, apart from competitive fees and easy-to-use interface. Moreover, BTCC is also among the oldest crypto exchanges with over 11 years of secure and stable operating history, but unlike Bitstamp, BTCC has no reported hacks or security breaches to date.

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