There are so many cryptocurrency exchanges now. If you are a beginner and you want to explore the exchange to get a hold of it, we recommend you to try this exchange as the trading fee is 0.00% for a trading volume of less than $1000. Yes, you read it right. In this review, we will explain the pros, cons, and best staking option of this exchange and the overall rating. Read on then…
| Official Website | https://www.bitstamp.net/ |
| Founding Year | 2011 |
| Head Quarters | British Virgin Islands |
| Trading Volume | $178 Million |
| Trading Options | Spot & Futures |
| Trading fees | Maker fee (0.00-0.30%) & Taker Fee (0.00-0.40%) |
| Total listed Coins | 80 |
| Trading Pairs | 163 |
| Supported fiat | USD, EUR, GBP |
| Withdraw options | Mainnet & ERC |
| Bank withdrawal Supported | Yes |
| Withdraw fees | Varies on cryptocurrencies |
| Deposit methods | SEPA, ACH, Bank Transfer, Debit/ Credit Cards |
| Restricted countries | 10+ |
| Native Token | No native token |
| Mobile app | Yes |
| Support Channel | https://www.bitstamp.net/faq/how-can-i-contact-support-via-bitstamp-app/ |
| Coinpedia rating | 8/10 |
| Security rating | 7/10 |
| User Interface | Easy to use |
| Ease to set up | Easy |
| App store Rating | 3.4 |
| Play store Rating | 3.7 |
| Security | Secured |
| Hacking attempts/Hacks | Hacked in 2015 |
| KYC verification duration | 3-5 days |
| Regulation & Compliance | Compliant |
| Liquidity | Good liquidity |
| Proof Of Reserve | https://blog.bitstamp.net/post/proof-of-reserves-and-transparency-the-bitstamp-way/ |
Bitstamp is a cryptocurrency agency founded in 2011 by Nejc Kodric & Damijan Merlak in Slovenia. In 2013, it moved its headquarters to the United Kingdom and later moved to Luxembourg in 2016 when it was granted a license to operate in all European regions. In 2018, it was acquired by NXMH, a Belgium-based investment company.
They are in 100+ countries with offices in UK, Luxembourg, Slovenia, and USA. The exchange offers spot and futures trading. In addition to that, they offer Staking services also. The maker fee is in the range of 0.00%-0.30% and the taker fee is in the range of 0.00%-0.40%. There are no deposit charges but withdrawal varies for each cryptocurrency.
The exchange has a separate wing for US residents named Bitstamp USA and for global customers they have Bitstamp Global. The CEO of Bitstamp Global is Jean Baptiste Graftieaux and the CEO of Bitstamp USA is Robert Zagotta.
Note that it was founded in a garage with two laptops and 1000 EUR. As of now, they have 4 million active users using its wide services.
The exchange offers more than 70 cryptocurrencies on its platform. Even though it is a minus point for pro traders, it is enough for beginners. There are deposit charges for crypto deposits. The popular cryptocurrencies on the exchange are:
Let us learn how to create an account on Bitstamp
Let us learn how to buy cryptocurrency on Bitstamp
Let us learn how to sell cryptocurrency on Bitstamp
Let us learn how to deposit cryptocurrency on Bitstamp
Let us learn how to withdraw cryptocurrency on Bitstamp
There are no charges for depositing cryptocurrencies and fiat currencies. However, for withdrawal, the charges vary from cryptocurrencies. A detailed breakdown of the fee structure can be viewed here.
The exchange uses a maker-taker fee model to calculate the trading fees. 30-day Trading volume is also considered while calculating the fees. The maker fees are in the range of 0.00% – 0.30% and the taker fees are in the range of 0.00% – 0.40%.
One important thing to note is that it charges no trading fees for a trading volume of lesser than 1000 dollars which makes it appealing for beginners.
The detailed list of trading fees can be seen below in the table.
| 30 Days USD Volume | Standard Maker Fee % | Standard Taker Fee % | FX Maker Fee % | FX Taker fee % |
| < $1,000 | 0.00% | 0.00% | 0.00% | 0.00% |
| > $1,000 | 0.30% | 0.40% | 0.06% | 0.08% |
| > $10,000 | 0.20% | 0.30% | 0.04% | 0.06% |
| > $100,000 | 0.10% | 0.20% | 0.02% | 0.04% |
| > $500,000 | 0.08% | 0.18% | 0.02% | 0.04% |
| > $1,500,000 | 0.06% | 0.16% | 0.01% | 0.03% |
| > $5,000,000 | 0.03% | 0.12% | 0.01% | 0.02% |
| > $20,000,000 | 0.02% | 0.10% | 0.00% | 0.02% |
| > $50,000,000 | 0.01% | 0.08% | 0.00% | 0.02% |
| > $100,000,000 | 0.00% | 0.06% | 0.00% | 0.01% |
| > $250,000,000 | 0.00% | 0.05% | 0.00% | 0.01% |
| > $1,000,000,000 | 0.00% | 0.03% | 0.00% | 0.01% |
Staking fees
There are no direct fees for staking and un-staking. However, when the reward is distributed the exchange takes 15% of the reward
| Cryptocurrency | Fee % | Reward |
| ETH2 | 15.00% | 4.50% |
| ALGO | 15.00% | 1.6% |
Fiat Payments
If you are purchasing cryptocurrencies using instant purchase methods (Debit/ credit cards, Google Pay, Apple Pay, PayPal), the exchange will charge 4%. The card issuers may carry an additional fee also
| Transaction Method | Deposit Fee | Withdrawal Fee |
| SEPA | Free | 3.00 EUR |
| ACH | Free | Free |
| Faster Payments (UK) | Free | 2.00 GBP |
| International Wire | 0.05% | 0.10% |
Bitstamp offers an affiliate program where you can earn up to 50% of trading fees as commission for the first 4 months. If you are a content creator or influencer, you can definitely try this program as this is advantageous.
Bitstamp mobile app is available on both Google Play Store and Apple App store. With more than a 3.4-star rating, the app is accessible to the eye and easy to navigate and place orders. It allows you to select and put cryptocurrencies in your watch list for easy tracking of prices. If you are an advanced trader, you can easily place different order types, analyze the market trends and inspect the entire order book. If you have any problems with the app you can mail to support@bitstamp.net which will be replied to in 24 hours.
In order to contact customer support you need to log in to your Bitstamp account. In the profile section, you can see the support link. Click on the link and raise an email ticket with a screenshot if necessary. The email will be replied to in 24-48 hours. There is also phone support and chat support. You can also contact us them +44 20 3868 9628 or +1 800 712 5702. There is also a generic help section where you can find general responses to the queries related to your account.
Apr 2023 – After the Ethereum Shanghai upgrade is integrated, users will be able to withdraw their staked ETH and rewards via Bitstamp Earn
Oct 2022 – Bitstamp is one of the top CEXs as per CryptoCompare’s report
May 2022 – Bitstamp announces new CEO as Jean Baptiste Graftieaux
Bitstamp is one of the oldest and most successful running exchanges in the world offering trading and staking services for cryptocurrencies. It offers 70+ cryptocurrencies on the exchange which is the ideal number for beginners. One of the plus points of this exchange is that it charges no trading fees for a trading volume of less than $1000. So for beginners who want to try out crypto exchanges, Bitstamp definitely stands out from other exchanges
It has a nominal trading fee for high-volume traders. The other earning programs include staking and affiliate program. It supports major fiat currencies and there are no deposit charges for crypto deposits. Note that, only verified users can trade, deposit and withdraw cryptocurrencies on its platform.
Coming to security, the firm stores 98% of its assets in cold storage, and the rest is made available for daily transactions. Other security features include whitelisting, email confirmation, 2FA, device restriction, etc
We recommend this agency for beginners as it has a competitive trading fee and supports major cryptocurrencies which are necessary for beginners.
Bitstamp stores 98% of the cryptocurrencies in cold storage. It also has industry-standard features like 2FA, device restriction, whitelisting, email confirmation, etc. However, it was hacked in 2015 where it lost 19,000 BTC.
Bitstamp was hacked in 2015 and employees fell prey to phishing attacks. The hackers stole around 19,000 BTC which was valued at $5 million at that time. The withdrawal was temporarily suspended following the attack.
Bitstamp was hacked in 2015 and employees fell prey to phishing attacks. The hackers stole around 19,000 BTC which was valued at $5 million at that time. The withdrawal was temporarily suspended following the attack.
In order to use the full features of Bitstamp users need to verify their identity. They can submit government-issued photo ID proof like driving license, passport, etc. They also need to upload a selfie video to verify their identity. Verified users have full access to buy, sell, deposit, and withdraw cryptocurrencies from the exchange.
Bitstamp has an exclusive exchange for US residents named – Bitstamp USA. It follows all US regulatory guidelines and is audited by the Big 4 accounting firm in the world.
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