Bitstamp exchange: overview of the official website of the crypto exchange, registration, trading, deposit and withdrawal

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The Bitstamp exchange is a trading platform for buying and selling cryptocurrencies for fiat money (dollar, euro). The available cryptocurrencies are Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and Ripple. The platform aims to provide both private users and institutional investors with a safe and easy trading environment. Today Bitstamp is regularly used by more than three million traders from around the world.

The headquarters of the company is located in Luxembourg, and initially the project was focused specifically on Europe, as an alternative to the dominant at that time Bitcoin exchange Mt.Gox. All deposits are made through a single payment area of the European Union, in the form of a mechanism for transferring funds between European bank accounts.

Bitstamp provides an API that allows customers to use custom software to manage their accounts.

Other popular crypto exchanges:

  1. Binance
  2. Exmo
  3. LocalBitcoins
  4. Bitmex
  5. Bitforex
  6. Bitmax
  7. Gate
  8. Huobi
  9. YoBit.

Bitstamp Review: General Info

Stock exchangeBitstamp
Websitebitstamp.net
Russian languageNo
Year of foundation2011
CountriesLuxembourg, UK, USA
Main officeNew York
CEONejc Kodrič
FoundersNejc Kodrič, Damijan Merlak
Affiliated companiesBitstamp Ltd.; Bitstamp USA Inc.; Bitstamp Europe S.A.
Registration number of Bitstamp Ltd. in the Registrar of Companies for England and Wales8157033
Licensed companyBitstamp Europe S.A. (Luxembourg)
VerificationYes
Internal tokenNo
Number of cryptocurrencies4
Number of cryptocurrency pairs15
CryptocurrenciesBitcoin, Litecoin, Ripple, Ethereum, Bitcoin Cash
Margin tradingNo
OrdersLimit, Market, Instant, Stop
Professional chartsYes (Tradingview)
Trading commissionfrom 0.25%
Commission for the introduction of cryptocurrency0%
Cryptocurrency withdrawal commission0% (network commission)
Mobile appYes
Replenishment methodsFiat money (bank transfer, cards); cryptocurrencies
Emailsupport@bitstamp.net
Telephones+44 20 3868 9628; +1 646 568 9784; +352 20 88 10 96
Affiliate programNo
Overall score8 out of 10

Features of the exchange

Ease of Trading:

✅   clear interface

✅   low commissions

✅   it is possible to withdraw to a bank account and buy cryptocurrency from credit cards

High level of security:

✅   98% of funds are kept in cold wallets

✅   personal data is carefully encrypted

✅   internal control of error and access restrictions

Proven reliability:

✅   crypto exchange has been operating since 2011

✅   technical support 24 hours a day and 7 days a week

✅   one of the industry leaders

There is a mobile application Bitstamp with a user-friendly interface and advanced trading tools. Suitable for both beginners and experienced users. In addition, through the application, you can send funds without commission to anywhere in the world.

Official site of the Bitstamp exchange

The main page of the site https://ru.bitstamp.net provides information on the features of the site. At the very top, we see the current Bitcoin to dollar rate (or the ratio of another selected currency pair). Just below the buttons in the menu:

✅  Institutions & Partners. Information for those wishing to implement their own cryptocurrency asset on Bitstamp, thereby expanding the potential user base of their project.

✅  Pro Traders. Information for professionals regarding the markets and trading instruments available on the exchange.

✅  Mobile App. Information and links to download the mobile app (available for Android and iOS).

✅  News and changes in the work of the site.

✅  Directly trading space where you can create orders to buy or sell cryptocurrency.

Registration

If you click the “Register” button in the upper right corner, we will be offered a choice of two types of account. The first is personal. This account is only suitable for non-commercial use. This means that any transfers from it can only be made to a bank account owned by one person. The second is corporate, used by legal entities for commercial purposes.

We choose a “personal” account. Fill in the First Name, Last Name, Email, country of residence. We put a tick that we agree to the terms of use and privacy policy. Click Open Account.

Go to the mailbox, open the letter from Bitstamp and follow the link to activate your account.

After that, registration continues. Create a password (at least 8 characters, at least one number and at least one capital letter.

As a result, the system gave us a User ID. Enter the password and go to the verification page.

Verification

You will need to fill out the proposed form and upload scans of the requested documents.

As soon as the request for verification from the Bitstamp exchange is approved, you need to send the necessary information through a special KYC form. Going through this process will speed up the processing of your funds both when making a deposit and when withdrawing.

An email will be sent to notify you of the results.

Subaccounts

The Bitstamp exchange allows you to create and manage sub-accounts. These accounts provide extended control over trading, allowing, for example, to separate a part of assets for working with a specific currency. The use of such accounts is optional and absolutely free. When trading with them, the same conditions and commissions are observed as with ordinary ones. With the help of such subaccounts, it is convenient to test different strategies, robots, etc.

Subaccount creation is available in your personal account. You can choose a custom name for it, or you can choose not to. You don’t need to fill out any information either, since all the information of the main account is automatically applied to the subaccount.

Deposit and withdrawal of funds on the Bitstamp cryptocurrency exchange

Deposit

You can deposit money in three ways:

  1. SEPA (Single Euro Payments Area)
  2. International bank transfer
  3. credit card
  4. cryptocurrency

For any of the methods, first select the “Deposit” section in your personal account. All possible ways to fund your account will be listed on the side of the menu. Follow the instructions of the payment system (in some cases, you may be required to create and confirm an account there too).

Output

In your Bitstamp personal account, find the Withdrawal item, and on the side, also select the desired method of receiving money. This could be a bank account or a cryptocurrency wallet. The cryptocurrency will be credited to the account as soon as the transaction receives a sufficient number of confirmations from the miners. The duration of the receipt to the bank account depends on the speed of processing the application by the bank itself.

Exchange trading

To start trading cryptocurrency, you will need to verify your account and deposit funds into your account using any preferred deposit method.

Then, in the upper left corner of your account (on the trading page), you can select the market of interest. The default is BTC / USD.

Select the type of order you want to place, enter the desired cryptocurrency amount and place a buy order through the buy / sell page. Bitstamp-supported cryptocurrencies can also be bought directly using the Visa or MasterCard credit card deposit option.

Types and features of orders

  1. Instant Order. The easiest to use, since it is executed directly with the current price level. Recommended for users who want to make a deal immediately.
  2. Limit Order. Provides the ability to set a specific price for which you want to buy or sell cryptocurrency. Done automatically when the course reaches this value.
  3. Market Order. Allows you to buy or sell at the best market rate.
  4. Stop order. It is usually used to limit potential losses in the event of a sudden rise or fall in price.
  5. Trailing stop order. More flexible variation of a regular stop order. Follows market movements and adjusts the stop trigger price accordingly.

Commissions

Deposits via SEPA are commission-free, bank transfers are charged 0.05% with a minimum deposit of 7.5 USD / EUR. All cryptocurrencies are commission-free.

Withdrawal fees depend on the specific withdrawal method. Withdrawal of SEPA is carried out with a fixed commission of 0.90 € (before that, the funds are converted into euros). The minimum SEPA withdrawal fee is € 10.00.

International withdrawal of funds is carried out with 0.09 percent of the commission; the minimum commission is $ 15.00. The minimum withdrawal amount is $ 50.

Now about the commissions for trading. For all trading pairs, commission fees are initially 0.25% of the transaction amount. If you trade in total for $ 20,000 at Bitstamp, they will drop to 0.24%, and so on. The minimum commission is 0.1%, but for this you need to make a turnover of $ 20 million.

Advantages and disadvantages

Pros:

✅  The Bitstamp crypto exchange has existed since 2011, it is one of the most reliable and well-known exchanges in the cryptosphere.

✅  Acts in accordance with the law, has licenses, is guaranteed to keep users’ funds safe.

✅  Very large trading volumes, which provides high liquidity. It is not difficult to make any desired purchase or sale on this site.

✅  Fiat is supported. There are several ways to deposit and withdraw money, including credit / debit cards.

✅  Simple and straightforward user interface.

Cons:

❌  Bitstamp cannot be used anonymously. Each user is obliged to verify his identity using the KYC system.

❌  Small selection of currency pairs. The exchange only supports the very top cryptocurrencies, ignoring most altcoins and promising coins.

❌  There is no Russian version of the site (and indeed none other than the English one). However, even this is not difficult to deal with the functionality, especially for those who have already dealt with cryptocurrency exchanges.

Conclusion and feedback

Bitstamp is a solid exchange with an excellent reputation built over the years. Everything speaks about its durability and focus on user comfort. The site is suitable for those who are just taking their first steps in the world of cryptocurrencies. Similar to Coinbase or Kraken, it makes it easy to use fiat currencies to purchase digital coins. If you need to purchase popular currencies like Bitcoin, Ripple, Ethereum or Litecoin, then Bitstamp is a good option. In addition to the fact that the exchange is fast and safe, there are also fairly low fees.

Of course, there is always room for improvement. In this case, it would be nice to introduce more cryptocurrencies, connect tech support chat, add interface languages.

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