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Bitstamp Review 2024
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Bitstamp Review 2024

✔ The more you trade, the lower the fees you pay
✔ Provides numerous educational resources
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Risk Warning
Please be aware of the risks involved with any trading or staking done in any cryptocurrency market due to its high volatility. Do not trade or stake with money that you cannot afford to lose. When in doubt, you should consult a qualified financial advisor before making any purchase.
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Meet Thadeus, a trading guru, brilliant writer, and financial fanatic with years of expertise in the industry. Get ready to learn from his wealth of knowledge.

Article was updated: May 13, 2024
Estimated reading time: 6 minutes

Bitstamp serves over 4 million cryptocurrency traders globally. It prides itself on being one of the most regulated crypto exchanges globally.

Pros
  • Hosts over 80 cryptocurrencies to choose from, including Bitcoin, Litecoin, Ethereum, Dogecoin, and more
  • Highly encrypted platform and secures most of the assets on its in-built cold wallet
  • A user-friendly platform compatible with both desktop and mobile devices
  • Low trading fees
  • £10 minimum trade amount
Cons
  • No live chat support
  • No margin trading
  • Deposit and withdrawal fees apply depending on a payment method

Numerous cryptocurrency exchanges are introduced in the financial space as the use of digital currencies increases. One of the leading exchanges today is Bitstamp, which has been providing reliable and secure trading services since its establishment in 2011. With many investors venturing into cryptocurrency, we thought it is best to take a closer look at Bitstamp’s offerings and see how they stack up against the competition. 

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In this Bitstamp review for 2024, we’ll explore the platform’s features, security, fees, and more to help you make an informed decision when choosing an exchange. 

Bitstamp Overview

Bitstamp is one of the oldest and most reputable cryptocurrency exchanges, having been in operation since 2011. It is headquartered in Luxembourg and operates globally, providing a platform for buying and selling over 80 cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, Ripple, and more. 

bitstamp

Although Bitstamp has a history of hacking in 2015, the exchange has taken measures to strongly focus on protecting user accounts from hacks and breaches. It uses a two-factor authentication procedure and secures most of the assets on a cold wallet. Bitstamp’s platform is also user-friendly, any trader can benefit from the platform without experiencing challenges navigating it. 

Overall, Bitstamp serves over 4 million cryptocurrency traders globally. It prides itself on being one of the most regulated crypto exchanges globally. Besides having an office in Luxembourg, the exchange has other branches in the UK, Slovenia, Singapore, and the US.

Compare Bitstamp with Other Exchanges:

Compare with other exchange
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Cryptocurrencies Available
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Digital Wallet
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bitstamp logo
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Risk Warning
Please be aware of the risks involved with any trading or staking done in any cryptocurrency market due to its high volatility. Do not trade or stake with money that you cannot afford to lose. When in doubt, you should consult a qualified financial advisor before making any purchase.
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Android, iOS

Cryptocurrencies Available*

There is a growing list of cryptocurrencies at Bitstamp to buy, sell, and trade. Although the collection is not as comprehensive as what other popular crypto exchanges list, you will never lack an option to invest in. 

Some of the popular cryptocurrencies you will receive, transfer, or store at Bitstamp include:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Ripple (XRP)
  • Bitcoin Cash (BCH)
  • USD Coin (USDC)
  • Chainlink (LINK)
  • Dai (DAI)

The best element about trading or investing using Bitstamp is that it allows you to trade the supported assets using fiat currencies and your already own crypto tokens. Some of the fiats listed for trading include USD, GBP, and EUR. 

*Don’t invest in crypto assets unless you’re prepared to lose all the money you invest.

Fees

Bitstamp is a relatively low-cost exchange when it comes to trading fees. Its minimum trade amount is £10. The charges are based on a tiered system determined by a user’s 30-day trading volume. The more you trade, the lower the fees you pay. There are no fees for trades up to £1000, and expect a 15% commission on your earnings when you use the exchange for staking. 

Note that Bitstamp does not charge deposit fees for cryptocurrencies, Faster Payments, ACH, and SEPA. However, if you deposit funds via international wire, there may be a fee charged by your bank or payment processor. All withdrawals attract a fee except for the ACH payment methods. Other fees to expect on this exchange are currency conversion fees. 

Payment Methods

Bitstamp is a flexible cryptocurrency exchange that accepts various payment methods for deposits and withdrawals. To transact efficiently, ensure you confirm availability and select the most suitable one for you. Here are the options available at this crypto exchange. 

  • Cryptocurrencies
  • International Transfers
  • SEPA
  • ACH
  • Faster Payments

Unfortunately, you can not transact using e-wallets like Neteller and Skrill on Bitstamp. 

Security

Bitstamp prioritises the security of its users by setting stringent measures to maximise their experience. For instance, the exchange has two-Factor Authentication (2FA) for users to securely log into their accounts and make withdrawals. In addition, it features cold storage, which is not accessible via the internet. This helps to prevent hacking attempts and protects user funds from theft.

When it comes to securing users’ data, Bitstamp is highly encrypted and has a dedicated team of security professionals who monitor the platform for suspicious activity and potential threats. It also complies with international anti-money laundering (AML) and know-your-customer (KYC) regulations, which helps to prevent fraudulent activity and protect users. On top of that, the exchange undergoes regular audits to ensure its security practices and protocols are up-to-date and effective.

Customer Support

Bitstamp’s customer support has gained excellent testimonials from users on Google Play, the App Store, and Trustpilot. The exchange support team is reliable and strives to assist users with any issues or questions they may have 24/7. You can reach out to the team via phone and email. 

Bitstamp also has a comprehensive help centre with articles, FAQs, and guides on a wide range of topics related to using the platform. Users can search for specific topics or browse through the categories to find the information they need. The exchange is also active on its social media platforms, including Twitter and Facebook.

Education

Bitstamp provides numerous educational resources on its “Learn Center” for users who want to learn more about cryptocurrencies and the Bitstamp platform. A wide range of topics are covered in the form of blogs, courses, and webinars. You can also learn more about the cryptocurrency space using website blogs, podcasts, and youtube channels. 

How to Open a Bitstamp Account

BEWARE OF SCAMS

When engaging with cryptocurrencies, it’s crucial to recognise that these digital assets are characterised by their extreme volatility and speculative nature. This can result in swift and substantial price fluctuations. To safeguard your crypto holdings, it is imperative to utilise reputable wallets and exchanges, prioritising the security of your investments. 

Also, exercise vigilance and due diligence to guard against crypto-related scams and fraudulent schemes that can potentially threaten your financial well-being. You can also spread your investments across multiple digital tokens and avoid making decisions based on emotions.

Opening a Bitstamp account is a relatively straightforward process that can be completed in a few simple steps, as below.

  1. Go to the Bitstamp website and confirm whether it hosts your preferred asset to invest in.
  2. Click on the “Get Started” button at the top right corner of the homepage.
  3. On the registration page, enter your name, email address and date of birth. Also, create a strong and unique password for your account and ensure you read and accept the terms of service and privacy policy before proceeding.
  4. Once you have entered your email and created a password, Bitstamp will send a verification email to the email address you provided. Follow the instructions in the email to verify your email address.
  5. After verifying your email, you’ll need to participate in the Know Your Customer (KYC), where you will upload a copy of your original ID, driver’s license, or passport to verify your identity. Bitstamp will also request you to share a copy of a recent utility bill or bank statement as proof of residency. 
  6. Once your account is fully verified, you can deposit funds into your Bitstamp account using one of the supported payment methods.
  7. Start trading with funds in your account. 

Editor’s Note

Based on our review, Bitstamp is a highly respected and reliable cryptocurrency exchange that has been around for over a decade. It provides users with a user-friendly platform, a wide selection of trading pairs, robust security measures, and responsive customer support. For these reasons, we recommend the exchange to new and intermediate investors looking for a reliable platform for their crypto investments. 

We also like the exchange’s comprehensive educational resources, which newbies should take advantage of to learn more about cryptocurrencies and trading strategies. Unfortunately, its inability to support margin trading is disappointing since it will inconvenience professional traders looking to take more risks in the crypto space. It will also be great to see an expanded list of crypto tokens on Bitstamp’s platform and a more powerful active platform for advanced investors. 

FAQs

Is Bitstamp a US exchange?

No. Bitstamp is not a US-based exchange. It is headquartered in Luxembourg and has offices in the UK, the US, Singapore and Slovenia.

Is Bitstamp crypto exchange safe?

Yes. Although Bitstamp had a hacking history back in 2015, the exchange takes several security measures to ensure the safety of user funds and data. These include setting a two-factor authentication procedure, having cold storage for most assets, and conducting regular security audits.

Where is Bitstamp exchange located?

Bitstamp is headquartered in Luxembourg, and serves global clients. You can access its services by signing up for an account through its website. However, ensure it fits your trading requirements for maximum experience.

Is Bitstamp regulated in Europe?

Yes. Bitstamp is regulated in Europe by the Luxembourg Financial Industry Supervisory Commission (CSSF). The exchange is also registered with regulatory authorities in the UK and Slovenia. This proves its credibility, and you can trust the exchange with your funds.

How much are Bitstamp fees?

Bitstamp’s trading fees vary depending on the trading volume and the trading pair. Although we consider the fees low, it is advisable to visit the exchange’s fee section to fully understand its fee structure.

Is Bitstamp insured?

Yes. Bitstamp is insured against losses due to cyber attacks and other events that may lead to the loss of user funds. However, the insurance coverage is not comprehensive, and users are encouraged to take their own precautions to protect their funds.

Which countries can use Bitstamp?

Bitstamp is available in most countries worldwide, except for a few countries subject to international sanctions or restrictions. However, some features and services may not be available in all countries. The exchange service UK clients and offers the best resources and affordable fees for maximum experience.

Has Bitstamp ever been hacked?

Yes. Bitstamp was hacked in 2015, leaving it with a loss of $5 million. However, this shouldn’t be a determining factor when considering the exchange for crypto investments since Bitstamp has since taken measures to safeguard its platform.

Thadeus Geodfrey logo
Thadeus Geodfrey

Is a regular dad trying to be smart about how we play and win in this big game of life. He has worked within the very best of the financial industry producing numerous training resources. He is an experienced copywriter with immense financial background. Now earns a full time living as a Trader, and as our writer.

His articles help everyday families build sustainable wealth, stop stressing about their financial security, and start living the life they’ve always wanted.
If he is not trading or writing, he is at the gym.

TradingGuides Rating:
✔ The more you trade, the lower the fees you pay
✔ Provides numerous educational resources
Visit Site
Risk Warning
Please be aware of the risks involved with any trading or staking done in any cryptocurrency market due to its high volatility. Do not trade or stake with money that you cannot afford to lose. When in doubt, you should consult a qualified financial advisor before making any purchase.
4.0
Customer support
5.0
Commissions & Fees
5.0
Platform & Tools
5.0
Research
4.8 Overall Rating

2 Replies to “Bitstamp Review 2024”

  • Danielle_Danielle says:

    Would you recommend this provider?

    Fees

    Account opening

    Customer service

    Deposit and withdrawal

    Exceptional support and a trustworthy exchange with a strong focus on security. User-friendly interface and diverse crypto options. Seamless fiat deposits via bank transfer and credit cards.

    Exceptional support and a trustworthy exchange with a strong focus on security. User-friendly interface and diverse crypto options. Seamless fiat deposits via bank transfer and credit cards.

  • Emma says:

    Would you recommend this provider?

    Fees

    Account opening

    Customer service

    Deposit and withdrawal

    Since 2020, I have been using Bitstamp, and it has consistently been a reliable platform with a user-friendly interface. The app maintains this ease of use. They exhibit high vigilance and meticulously prioritize security. Knowing that your assets are safeguarded by such a security-conscious company instills confidence. Their customer support is always ready to assist, and trading with them is consistently straightforward. I highly recommend them.

    Since 2020, I have been using Bitstamp, and it has consistently been a reliable platform with a user-friendly interface. The app maintains this ease of use. They exhibit high vigilance and meticulously prioritize security. Knowing that your assets are safeguarded by such a security-conscious company instills confidence. Their customer support is always ready to assist, and trading with them is consistently straightforward. I highly recommend them.

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