Cryptocurrency Exchange Review: Bitstamp
4 stars based on
32 reviews
Follow us on Twitter or join our Telegram. Registered in Luxembourg and headquartered in the UK, Bitstamp is bitstamp day trading of the oldest cryptocurrency exchanges still in operation.
It caters to beginner and more experienced traders alike, and allows users to exchange bitcoin, ripple, ether, litecoin and bitcoin cash with each other or with fiat currencies USD, EUR, GBP.
Although it was hacked in Januaryits security has improved markedly since then, with it now following such practices as multi-signature authentication for transactions. And while its trading and currency dashboards are spread across a bitstamp day trading of separate pages, these are clearly laid out and generally easy to use.
Cryptocurrency deposits and withdrawals are free. Bitstamp day trading only exception to this is when customers withdraw bitcoin using BitGo Instant — which costs 0.
With fiat currencies, customers are generally charged for deposits and withdrawals. International bank transfers have a deposit fee of 0. This is cheaper than Bitfinex, for example, but compared to exchanges which charge a flat fee for wired withdrawals it can work out as more expensive depending on the amount being transferred.
Things are different with euro transfers using SEPA. As for trading fees, Bitstamps charges sit somewhere in the middle compared to other exchanges. Its trade bitstamp day trading start at 0. To put this in some perspective, GDAX also charge 0. Bitstamp is one of the oldest cryptocurrency exchanges currently in operation. Launched in August and now based primarily in Luxembourg, it occupies an bitstamp day trading middle ground between advanced trading and trading for beginners.
It allows users to perform a variety of trade types no margin trading thoughand it trades in bitcoin, ripple, litecoin, bitstamp day trading, and bitcoin cash as well as in USD, GBP, and EUR. However, in contrast to other platforms for more serious traders it also lets users deposit and withdraw funds using their credit and debit cards, although this is usually more expensive than using a bank bitstamp day trading.
Given that it has been going for so long, its security is generally solid. That said, it was subject to a couple of cyberattacks in and then inwhen nearly 19, bitcoins were stolen. Bitstamp has come a long way since its relatively high-profile hack inwith the exchange using a variety of measures to ensure that accounts remain safe.
Users are able and encouraged to turn on two-factor authentication, bitstamp day trading works using Google Authenticator. Added to this, email confirmation for all withdrawals is required, while password changes also require two-factor authentication.
The bitstamp day trading also bitstamp day trading pretty good privacy PGP for encrypting the files users need to send in verifying their accounts. On the system side of things, Bitstamp also takes a number of measures to ensure that its platform remains secure as a whole.
Bitstamp day trading is one of the longest running crypto exchanges currently in operation, and this age is apparent in the slight clunkiness of its user interface. Compared to exchanges which put almost all relevant info and action buttons on a single dashboard, Bitstamp divides different currencies and trade types among different pages.
This means that users often have to go from one place to another if they want to trade in a different market or if they want to see their account and order details. Despite this slight inconvenience, each page is laid out clearly and actions are easy to execute.
Verification can take up to two weeks to be confirmed, and it requires the user to share quite a bit of sensitive info, including passport details and utility bills or bank statements. One strength Bitstamp has over many other advanced cryptocurrency exchanges is the wide variety of deposit and withdrawal methods it offers.
These are listed below:. Pros Credit and debit card payment and withdrawal options Competitive fees Fully licensed and regulated in the EU Cons Smaller range of cryptocurrencies User interface is a bit sprawling Verification requires more personal info than with some other exchanges.
Exchange rates and other info.
