Bitstamp Review: Key Features in 2024

7.70 / 10
Cryptocurrency exchange
7.7 / 10
Show more choices Visit Bitstamp
Available in
Reviewed by
Ramsha Naushad
Senior Writer

18+ Only - Gambling in your location may be forbidden – “you are responsible”.
This site contains affiliate links. If you click on one, we may earn a commission.

In this Bitstamp review for 2024, I will talk about what this crypto platform has to offer. 

If you're new to crypto investing and considering Bitstamp as your trading platform, you're in the right place. 

Join me as we delve into everything you need to know, from Bitstamp charges, and features to its safety and user experience. 

Disclaimer: The information provided on this website is for informational purposes only and should not be considered as financial, investment, or legal advice. Cryptocurrency investments are volatile and high-risk in nature. Consult with a qualified financial advisor and/or tax professional before making any investment decisions. We are not responsible for any loss incurred due to the use of information on this website. Do your own research and exercise caution. Don’t invest unless you’re prepared to lose all the money you invest.
 

 

Why Trust Us

Explore Bitstamp with confidence through CryptoManiaks' comprehensive review. Our dedicated team examines Bitstamp's features, security protocols, fees, and overall user experience, offering transparency and precision in our analysis. Benefit from practical insights gained as active Bitstamp users, providing nuanced perspectives on the platform's strengths and considerations.

Trust CryptoManiaks as your reliable source for an unbiased Bitstamp review. With our detailed analysis, navigate the complexities of this exchange confidently, ensuring you optimize your experience with the Bitstamp platform. 
 

Key Takeaways

 

  • Bitstamp, established in 2011, is among the oldest and most reliable cryptocurrency exchanges globally
  • Operating in 27 EU countries and extending to the US and other nations
  • Bitstamp offers a user-friendly interface with intuitive features and multiple trading views
  • Bitstamp employs cold storage, encourages 2FA, and undergoes regular audits, addressing concerns from a 2015 security incident
  • With over 80 cryptocurrencies, various trading pairs, and lending features, Bitstamp caters to a range of users

Bitstamp Pros and Cons 

Here are pros and cons of Bitstamp:

 

Pros and Cons of Bitstamp
Pros Cons
Bitstamp is one of the longest-standing cryptocurrency exchanges, established in 2011 The selection of cryptocurrencies is relatively limited compared to some other exchanges
It has an easy-to-use interface for traders The verification process, although essential for security, may take time for approval
Bitstamp offers a secure trading environment with two-factor authentication Customer support response times can vary, with potential delays during peak periods
Users can trade a variety of cryptocurrencies, including major ones like Bitcoin and Ethereum The platform may experience occasional maintenance periods
Bitstamp complies with regulatory standards, contributing to a trustworthy crypto market Like other exchanges, it's not fully immune to cyber attacks
The exchange allows fiat deposits and withdrawals, enhancing accessibility for users  

 

Exploring Bitstamp: Brief Overview 

Bitstamp is a cryptocurrency exchange that is revolutionizing the digital landscape. This site was launched in Slovenia in 2011. It has global offices in the UK, United States, Singapore, and Luxembourg. 

Bitstamp has built a reputation for itself as one of the oldest and most trusted cryptocurrency exchanges globally.

This platform offers a range of services designed to cater to cryptocurrency enthusiasts. Whether you're looking to buy your first Bitcoin or engage in advanced trading strategies, Bitstamp has you covered. It is a very user-friendly platform.
 

Bitstamp: Background Information

Bitstamp emerged in 2011 as a business, during a time when digital currencies were still in their infancy. It was founded by Nejc Kodrič and Damijan Merlak. It provides a safe and accessible platform to buy, sell, and trade cryptocurrencies.

Bitstamp has consistently prioritized security, establishing itself as a pioneer in the industry. The exchange is known for its robust security measures. This makes it one of the few brokers to somewhat withstand cyberattacks. 

It consistently ranks among the top crypto markets in terms of trading volume and user base. This positioning speaks to Bitstamp's enduring popularity and its ability to adapt. 

Over the years, Bitstamp has achieved several notable milestones. It was one of the first exchanges to get a European license. Bitstamp has also forged strategic partnerships in the financial and tech sectors.
 

Bitstamp: Features and Services

Bitstamp takes pride in its user-friendly crypto exchange. It ensures that navigating the exchange is straightforward, even for beginners. It offers access to the leading cryptos and many popular altcoins.
 

Layout and ease of use

Bitstamp boasts an intuitive interface that simplifies the trading process. You can execute instant, market, limit, or stop orders using the platform's layout. The basic trading platform provides a clear chart, current buy and sell offers, and an uncomplicated purchase form. 

For advanced traders, the Tradeview platform offers sophisticated charting features. It also includes a live updated order book, depth chart, and quick trading forms.
 

Available trading pairs

Bitstamp offers a diverse range of trading pairs to suit various trading strategies. While it primarily serves as an entry point for beginners, it still offers an array of intriguing pairs.  

Some of the most common trading pairs include:

  • BTC/USD
  • ETH/USD
  • LTC/USD
  • BCH/USD
  • XRP/USD

The platform also allows users to buy and sell crypto using EUR and GBP. It supports credit and debit card payments as well as bank transfers.
 

Trading options available

Bitstamp offers a variety of order types to cater to the diverse needs of traders. These order types allow users to execute trades with precision and flexibility. Here are the key order types you can utilize on Bitstamp:
 

1. Market Orders

Market orders are straightforward and executed at the current market price. They guarantee immediate execution, making them ideal for traders who prioritize speed over price.

Market orders are commonly used when you want to buy or sell an asset quickly, and you're less concerned about the exact price at which the trade is executed.
 

2. Limit Orders

Limit orders enable users to specify the price at which they want to buy or sell an asset. The trade will only be executed when the market reaches the specified price or a better one.

Limit orders are employed when traders have a specific price point in mind and are willing to wait for the market to reach that level. This order type is useful for setting entry and exit points.
 

3. Stop Orders

Stop orders, also known as stop-loss orders, are designed to limit potential losses. When the market reaches a certain price level, a stop order becomes a market order and is executed at the prevailing market price.

Traders often use stop orders to mitigate losses by automatically selling an asset if its price falls below a predetermined threshold.
 

4. Stop-Limit Orders

Stop-limit orders combine elements of both stop and limit orders. They consist of two parts: a stop price and a limit price. When the stop price is reached, the order becomes a limit order and is executed at the specified limit price or better.

Stop-limit orders are useful for traders who want to set precise entry and exit points while also minimizing potential losses.
 

5. Trailing Stop Orders

Trailing stop orders are dynamic and adjust with the market price. When the market price rises, the trailing stop price increases by a specified distance. If the market reverses and falls by the set distance, the order becomes a market order and is executed.

Trailing stop orders are employed to lock in profits while allowing potential gains to continue in a trending market.
 

6. Iceberg Orders

Iceberg orders are designed to conceal the total order quantity. Only a portion of the order is visible to the market, while the remainder remains hidden. When the visible portion is executed, the hidden portion is automatically released.

Iceberg orders are utilized when traders want to avoid revealing the full extent of their buying or selling activity to the market.
 

7. Fill-or-Kill (FOK) Orders

FOK orders must be executed in their entirety or not at all. If the entire order cannot be filled immediately, it is canceled.

FOK orders are employed when traders require immediate execution of a specific quantity of an asset and are not willing to accept partial fills.
 

Lending and borrowing features

Bitstamp is among the best lending sites, allowing users to participate in crypto lending. The interest rates for lending can vary. It provides opportunities for users to earn passive income. 

Staking periods and limitations are subject to change. It's essential to stay updated with the latest terms and conditions.
 

Supported wallets

Bitstamp offers support for various wallets, ensuring flexibility and convenience for users. While it doesn't have its own wallet, it accommodates a range of wallet options. 

It provides a mobile wallet with all the functionalities of the exchange. We will cover this later in detail.
 

Supported coins

Bitstamp supports over 80 cryptocurrencies for spot trading. From Bitcoin and Ethereum to Uniswap, Stellar Lumens, and Litecoin, Bitstamp covers a wide spectrum of digital assets. 

It's worth noting that XRP is not available for trading within the United States.
 

User Profiles

Bitstamp enables users to access a range of features through their profiles. It doesn't offer direct access to other users. Profiles provide an interface for managing account preferences, settings, and security features.
 

Trading Bots

Bitstamp supports a variety of trading bots that cater to different trading styles. Whether you're interested in automated trading or want to explore copy trading, trading bots provide options for enhancing your trading strategy.
 

Bitstamp Pro

Bitstamp Pro is a specialized web-based platform created by Bitstamp for advanced crypto traders and experts. It leverages Bitstamp's extensive experience as the world's longest-running crypto exchange to offer advanced tools and insights in one central location.

Let me tell you the key features of Bitstamp Pro include:

  • Comprehensive dashboard: Bitstamp Pro provides a consolidated view of essential tools, information, and insights to assist traders in making informed decisions quickly
  • Advanced order types: Traders can access four different order types, allowing for precise control over trading strategies
  • Real-time charts: The platform offers real-time charting capabilities to track crypto market trends
  • Actionable data: Users can access new types of actionable data and analytics to enhance their trading strategies
  • Portfolio management: Bitstamp Pro helps traders manage their crypto portfolios efficiently
  • Competitive fee model: It uses a competitive maker/taker fee model, ensuring cost-effective trading

This platform is tailored for experienced traders seeking to:

  • Identify new crypto opportunities
  • Monitor trades and the overall investment at a glance
  • Have all the necessary tools and information at their fingertips

Crypto cards

Bitstamp doesn't offer its crypto debit or credit cards. Users can explore various means of converting their crypto into fiat currencies or other assets.
 

User Experience

Functionality

Bitstamp generally provides a smooth and reliable user experience. While occasional issues or lags are possible, they are relatively rare. The platform has a reputation for stability and responsiveness. It ensures users can trade without major interruptions.
 

Registration process

The registration process on Bitstamp is straightforward. Let me ease out the process for you:

  • Registration: To get started, you simply need to provide your name, email address, and date of birth
  • Account verification: After registering, Bitstamp requires account verification. This involves submitting a valid government-issued ID and a proof of residency document
  • KYC verification: Bitstamp recommends completing its Know Your Customer (KYC) verification. This step speeds up deposit and withdrawal processes, enhancing security
  • Trading: Once you've completed these steps, you're all set to begin buying and selling crypto assets on Bitstamp

 

Educational resources available

Bitstamp offers educational resources to help users understand cryptocurrency trading better. While the platform may not have an extensive library of blogs or videos, it provides essential information on its website and a helpful FAQ section. 

Additionally, Bitstamp's blog occasionally features articles on cryptocurrency trends and market insights.
 

Is Bitstamp Safe?

Bitstamp prioritizes user security with robust measures:

  • Secure storage: The exchange stores most user funds in cold storage, offline wallets, which are less susceptible to hacks
  • Two-factor authentication (2FA): Bitstamp encourages users to enable 2FA to add an extra layer of protection
  • Regular audits: The platform undergoes regular security audits. This helps to identify vulnerabilities and maintain a high level of security
  • AML/KYC compliance: Bitstamp follows strict Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures to ensure regulatory compliance
  • Regulation: The exchange is regulated in Luxembourg and holds a Payment Institution License

Bitstamp faced a security incident in 2015. A phishing attack resulted in the theft of nearly 19,000 Bitcoin (BTC), valued at around $5 million at the time. However, Bitstamp took responsibility and reimbursed affected users. Since then, the exchange has made substantial improvements to its security measures. 
 

Bitstamp Trading Fees, Interest Rates, and Lending Rates

The fee structure includes:

Trading fee types: Fees start at 0.50% for smaller trades but decrease as the trading volume increases. It is favorable for active traders.

Deposit and withdrawal fees: There are Bitstamp transfer fees deposits and withdrawals. They vary depending on the method used.

Maker-taker model: Bitstamp uses a maker-taker fee model. Makers (liquidity providers) enjoy lower fees than takers (liquidity consumers).

Interest rates: Bitstamp does not offer direct lending or interest-bearing accounts. 
 

30 days USD volume Standard
Maker fee %
Standard
Taker fee %
FX
Maker fee %
FX
Taker fee %
< $1,000 0.00% 0.00% 0.000% 0.000%
> $1,000 0.30% 0.40% 0.060% 0.080%
> $10,000 0.20% 0.30% 0.040% 0.060%
> $100,000 0.10% 0.20% 0.020% 0.040%
> $500,000 0.08% 0.18% 0.016% 0.036%
> $1,500,000 0.06% 0.16% 0.012% 0.032%
> $5,000,000 0.03% 0.12% 0.006% 0.024%
> $20,000,000 0.02% 0.10% 0.004% 0.020%
> $50,000,000 0.01% 0.08% 0.002% 0.016%
> $100,000,000 0.00% 0.06% 0.000% 0.012%
> $250,000,000 0.00% 0.05% 0.000% 0.010%
> $1,000,000,000 0.00% 0.03% 0.000% 0.006%

Trading fees (all pairs)

Bitstamp's fee structure is competitive, particularly for higher-volume traders. Users should be aware of deposit and withdrawal fees when transferring funds.

Please note that while Bitstamp has a strong security track record, no exchange is completely immune to a data breach risk or hack. Users should exercise caution to protect their accounts and funds.
 

Supported Countries

Bitstamp has established a global presence, catering to users in various regions. The exchange's services are available in the 27 European Union (EU) countries. Bitstamp extends its reach to several other nations like:

  • Switzerland
  • Norway
  • Hong Kong
  • Singapore
  • Australia
  • South Korea
  • Japan

For users in the United States, Bitstamp operates through its subsidiary Bitstamp USA. It ensures compliance with local regulations. 

However, I would suggest you verify the current list of supported countries on Bitstamp's official website. Regulatory changes may impact service availability in certain regions.
 

Deposit and Withdrawal Methods

Bitstamp minimum deposit depends on the deposit method. For example, it allows users to deposit various cryptocurrencies and cash with no specified minimum deposit amount.

For fiat currency deposits (such as USD, EUR, GBP, etc.), the minimum deposit amount can vary depending on your location and the specific payment method. A bank wire transfer, for example, may have higher minimum deposit requirements compared to other methods like credit card deposits or SEPA transfers.

To fund your Bitstamp account or withdraw your funds, the exchange offers a range of options to suit your preferences. Here's a breakdown of the deposit and withdrawal methods, along with some key details:

Fees:

  • Bitstamp does not charge any costs for a transaction made through bank transfer. It includes SEPA and international wire transfers
  • However, if you choose to deposit funds using a credit or debit card, a 5% fee applies
  • Withdrawal fees for bank transfers vary based on your location and the currency used. Crypto withdrawal fees depend on the specific cryptocurrency you're withdrawing
  • Accepted currencies:
  • Bitstamp supports a variety of fiat currencies, including U.S. dollars (USD), euros (EUR), British pounds (GBP), Swiss francs (CHF), and more
  • You can also deposit and trade with various cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and others

Deposit/Withdrawal methods:

  • Bank account transfers: Bitstamp allows users to deposit and withdraw funds through SEPA transfers. International wire transfers are also accepted for users outside the EU
  • Credit/debit Cards: You have the option to deposit funds using a credit or debit card. Note that a 5% fee is applicable. Withdrawals to cards are not supported
  • Cryptocurrency deposits/withdrawals: Bitstamp supports various cryptocurrencies for both deposits and withdrawals. You can transfer popular cryptocurrencies like BTC, ETH, XRP, and more to and from your Bitstamp account

Limitations:

  • Be aware of withdrawal limits and fees associated with bank transfers. They can vary based on your location and the currency used
  • Credit/debit card deposits incur a 5% fee, so it's advisable to consider this cost

 

Customer Customer Service and Feedback

Bitstamp provides multiple channels for customers to get help. Investors can access a helpful FAQ page on the platform's website. It offers in-depth information to address common questions. Additionally, 

User reviews on Bitstamp customer support have been generally positive. Many people commend the platform for its quick and helpful customer support services. The most common complaints were related to:

  • Inactivity fees: Some Bitstamp complaints were related to inactivity fees. Bitstamp has responded to this concern by scrapping the inactivity fees and addressing the issue
  • KYC processes: Some users found Bitstamp's KYC processes rigorous. This is a characteristic shared with many compliant crypto exchanges that prioritize following KYC rules. It maintains regulatory compliance
  • Account suspensions: There have been instances of account suspensions related to verification processes. It can be frustrating for users. These measures are often taken to ensure the security and legality of transactions

 

Bitstamp Mobile app 

Bitstamp has a user-friendly mobile app for both Android and iOS devices. Let me highlight some of its key features:

  1. Easy access: You can download the app from the Google Play Store or the App Store
  2. Complete trading: It lets you buy, sell, and trade cryptocurrencies on the go
  3. Send and receive crypto: You can send and receive digital assets
  4. Portfolio management: Keep track of your crypto holdings and transactions
  5. Security: The app is secure with multi-factor authentication
  6. Simple interface: It's easy to use, suitable for beginners and experts
  7. Real-time info: Get live cryptocurrency market data, charts, and more
  8. Cross-platform: Seamlessly switch between the app and the web platform

 

Bitstamp Review: Final Thoughts

If you're new to cryptocurrency and looking for a reliable exchange, Bitstamp is worth considering. With a decade of experience, it offers a good way to buy, sell, and trade over 80 cryptocurrencies.

Bitstamp Pro, its advanced platform, caters to experienced traders. It comes with enhanced tools and insights. Some users may find fees slightly higher compared to other platforms. Security is a top priority, and Bitstamp has made improvements over the years. Still, exercise caution and follow security best practices.

While customer support is generally praised, some have had issues with fees and verification processes.  
 

 

Frequently Asked Questions

How do I open a Bitstamp account?

Opening a Bitstamp account is very easy. Visit the Bitstamp website and click on the “Sign Up” button. Enter your email address and create a password. Verify your email address by clicking on the link sent to you in the confirmation email. Lastly, enter your personal information, including your name, address, and DOB.

Who founded Bitstamp?

Bitstamp was founded in 2011 by Nejc Kodrič and Damijan Merlak, two entrepreneurs from Slovenia. Kodrič and Merlak first met in 2010 while working on a project for a Slovenian startup. After that, they decided to start their own company and began researching the cryptocurrency market.

What are the services offered by Bitstamp?

Bitstamp is a digital currency exchange platform. It offers a variety of services to its users, including the ability to buy and sell digital currencies, deposit and withdraw funds, and set up and manage accounts.

What is the difference between Bitstamp and Bitstamp Pro?

Bitstamp is a crypto CEX suitable for beginners to buy and sell cryptocurrencies securely. The Bitstamp Pro app has all the features of the Bitstamp app, along with more advanced options for experienced crypto traders.

What is Bitstamp USA?

Bitstamp USA is a subsidiary of Bitstamp, one of the oldest cryptocurrency exchanges globally. It operates in the United States and provides a platform for users to buy, sell, and trade cryptocurrencies. Bitstamp USA adheres to regulatory requirements in the U.S., offering a secure and compliant way for Americans to engage in crypto trading.

How secure is Bitstamp?

Bitstamp is highly secure, employing advanced measures like encryption, firewalls, and offline cold storage for user funds. With 24/7 surveillance, regular audits, and vulnerability assessments, Bitstamp ensures a robust defense against unauthorized access, making it one of the most secure cryptocurrency exchanges.

 

About CryptoManiaks
Face 1
Face 2
Face 3
Face 4
Face 5
Face 6

We are CryptoManiaks.  Collectively, we have over 25 years of experience in the crypto world and are all passionate about guiding people through the complex world of crypto investing.

Written by

Ramsha Naushad

They Already Trust Us
 
 
Have some crypto questions?
Find the answers
You might also like