Bitstamp exchange: overview of the official website of the crypto exchange, registration, trading, deposit and withdrawal
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 Bitstamp Review: General Info
- 2 Features of the exchange
- 3 Official site of the Bitstamp exchange
- 4 Registration
- 5 Deposit and withdrawal of funds on the Bitstamp cryptocurrency exchange
- 6 Exchange trading
- 7 Commissions
- 8 Advantages and disadvantages
- 9 Conclusion and feedback
Bitstamp Review: General Info
|Year of foundation||2011|
|Countries||Luxembourg, UK, USA|
|Main office||New York|
|Founders||Nejc Kodrič, Damijan Merlak|
|Affiliated companies||Bitstamp Ltd.; Bitstamp USA Inc.; Bitstamp Europe S.A.|
|Registration number of Bitstamp Ltd. in the Registrar of Companies for England and Wales||8157033|
|Licensed company||Bitstamp Europe S.A. (Luxembourg)|
|Number of cryptocurrencies||4|
|Number of cryptocurrency pairs||15|
|Cryptocurrencies||Bitcoin, Litecoin, Ripple, Ethereum, Bitcoin Cash|
|Orders||Limit, Market, Instant, Stop|
|Professional charts||Yes (Tradingview)|
|Trading commission||from 0.25%|
|Commission for the introduction of cryptocurrency||0%|
|Cryptocurrency withdrawal commission||0% (network commission)|
|Replenishment methods||Fiat money (bank transfer, cards); cryptocurrencies|
|Telephones||+44 20 3868 9628; +1 646 568 9784; +352 20 88 10 96|
|Overall score||8 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
✅ 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.
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.
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.
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.
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
You can deposit money in three ways:
- SEPA (Single Euro Payments Area)
- International bank transfer
- credit card
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).
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.
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
- 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.
- 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.
- Market Order. Allows you to buy or sell at the best market rate.
- Stop order. It is usually used to limit potential losses in the event of a sudden rise or fall in price.
- Trailing stop order. More flexible variation of a regular stop order. Follows market movements and adjusts the stop trigger price accordingly.
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
✅ 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.
❌ Bitstamp cannot be used anonymously. Each user is obliged to verify his identity using the KYC system.
❌ 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.