Bitstamp Review

Bitstamp Ratings at a Glance

The platform offers more than enough coins to satisfy most beginners, and its simplified and competitive fee structure makes it an easier point of entry for new investors. However, Bitstamp’s lack of margin trading, lending features and limited cryptocurrency selection are notable drawbacks that may frustrate advanced traders. Additionally, unlike competitors such as Binance and Kucoin, Bitstamp offers limited staking rewards which limit the ability of users to earn rewards. 

Though Bitstamp doesn’t offer more sophisticated investment options, it focuses on delivering basic services in a straightforward manner. These include four different order types and an easy-to-use instant buy platform. Traders can use Bitstamp through three different platforms; Bitstamp.net, Bitstamp Tradeview and Bitstamp Mobile (trading fees are the same on all platforms, so you can choose whichever platform you are most comfortable with).

1. Bitstamp.net - this basic trading platform allows users to buy and sell with instant, market, limit and stop orders. The central platform includes a basic chart, current buy and sell offers outstanding and a simple purchase form

Source - BitStamp

Bitstamp Mobile features on Android and IOS devices are available in the Google Play and App Store. The app serves as a fast and secure window to easily and quickly trade crypto. Effectively, the mobile app provides all of the features of the primary Bitstamp web-based platform in a pocket-sized trading experience.

Overall, Bitstamp offers notable customer support. Customer service is available 24/7 via email and you can utilize a phone support line to access phone assistance for immediate inquiries. This level of support is a major selling point of Bitstamp, so if you value support agent accessibility, you may want to give Bitstamp a second look.

With that said, Bitstamp doesn’t offer text-based support. Unlike other platforms, there is no live chat if you have an issue. Generally speaking, support staff will get back to you via email in between 24 to 72 hours. However, there is an extensive Help Section where you can read answers to common questions relating to Bitstamp features and processes. 

Trading fees at Bitstamp start at 0.5% for regular trading pairs. This puts Bitstamp on par with many top competitors. Whilst the fees aren’t the cheapest among crypto exchanges, they are certainly not unreasonable. However, unlike many other exchanges, Bitstamp charges one flat fee percentage, regardless of whether your order is a maker (creates liquidity on the exchange), a taker (reduces liquidity), or whether your order is made using the instant buy feature.

It is important to note that fees decrease if you trade more than $10,000 in volume over the prior 30-day period. High-volume trades of $20 billion per month or more can result in fees dropping to as low as 0%. 

In addition to trading fees, below is a table showing additional costs associated with the funding and managing your account:

The primary ways in which Bitstamp benefits the user are as follows:

1. Institutional-grade Security -  98% of assets are stored safely offline, personal data is highly encrypted and there is an emphasis on whitelisting and transaction confirmations.

Like most crypto exchanges, Bitstamp receives mixed feedback from current and past users. This is expected as different types of users value and demands different types of features. Complaints surrounding Bitstamp primarily revolve around slow withdrawal times, poor customer service interactions and a lack of advanced trading functionality. 

Nonetheless, whilst Bitstamp’s features may be designed in a straightforward manner, many new users still struggle to deal with the cryptocurrency learning curve when starting with Bitstamp. That said, It is not up to Bitstamp to hold the hand of each investor. Each user has the responsibility to do their own research and take advantage of the learning resources available to them. 

Bitstamp vs Competitors

Overall, Bitstamp outperforms many competitors in terms of its easy-to-use platform and simplified fee structure. However, Bitstamp’s lack of margin trading, limited staking options, and limited cryptocurrency range make many other exchanges more desirable for intermediate and advanced traders and investors. Explore Bitstamp’s top competitors to learn more about Bitstamp compared to other major cryptocurrency exchanges. 

With over a decade of experience, Bitstamp is a widely recognized crypto exchange across the globe. Bitstamp does a decent job at providing an easy-to-use interface while keeping fees reasonable. 

Overall, Bitstamp is a good option for those just wading into the world of crypto and looking to stick to the more popular altcoins. In the future, it would be great if Bitstamp could expand its list of currencies and provide a more powerful active trading platform. 

Bitstamp YouTube Tutorial

Frequently Asked Questions