Bitstamp Review

General Information

Operating since 2011 and founded by Nejc Kodric and Damijan Merlak in Slovenia, Bitstamp is one of the oldest and reputable cryptocurrency exchange platforms in the world, putting an emphasis on quality over quantity, given that it offers services only for a limited number of cryptocurrencies. People who are European citizens find Bitstamp to be one of the best choices, especially when it comes to the most popular cryptocurrencies. Let’s examine some of their most important features, in order to asses which type of clients will be the most favored by the services.

Services and Cryptocurrencies Supported

Bitstamp is focused on a cryptocurrency trading platform that allows clients to trade Bitcoin and a handful of other altcoins. Options are limited in terms of order types and tokens, but still their services are high-quality. In terms of order types currently available, clients can choose between market, limit, stop, and instant orders.

At the time of writing, Bitstamp works with Euro and US dollar, when it comes to the fiat currency options. The cryptocurrencies supported are:

• Bitcoin
• Ethereum
• Litecoin
• Ripple
• Bitcoin Cash.

The exchange also allows clients to buy Bitcoin with a credit card, although the daily limit is $1,500 and the associated fee is around 8%.

Payment Methods and Fees

We’ve mentioned that European clients are the most favored since Bitstamp accepts SEPA payments, which are processed relatively fast. Alternatively, clients can make wire transfers, along side with cryptocurrency deposits in any of the cryptocurrencies supported, mentioned above. On top of that, Bitstamp also accepts AstroPay payments.

In terms of fees, deposit, withdrawal, and trading fees are generally more affordable with Bitstamp. For a wire transfer, the deposit fee is as little as 0.05%, but not the same can be said about a credit card deposit, which will be charged with an 8% fee. Deposits and withdrawals in Bitcoin, Litecoin, and Ethereum are free of charge.

Trading fees are variable, Bitstamp favoring clients who trade large amounts. The highest trading fee for a volume lower than $20,000 is 0.25% and can go as low as 0.10% for clients who work with more than $20 million.

Customer Support

In order to be in touch with its clients on a constant basis, Bitstamp had a ticketing system, with the reply time within 24 to 72 hours. On top of that, the company had also provided a customer support phone number, for emergency situations. Lastly, there’s the FAQ page, where clients can find plenty of information about the most common inquiries.

Geographical Restrictions

Bitstamp is an exchange platform that offers its services for all 28 EU countries and a list of other 50+ countries including the United Stated under the subsidiary Bitstamp USA.

Summary

We can summarize that Bitstamp is an important cryptocurrency exchange platform and even though it offers support for a limited number of tokens, fees are low. We must also mention that the exchange had been subject to hacking attacks in the past and that’s been a big drag on its reputation in the short-term.