Bitstamp, launched in 2011, is one of the oldest Bitcoin exchanges in the crypto space. The platform is famous for its intuitive trading interface, advanced trading tools, and low fee structure. Despite growing competition, Bitstamp has remained one of the top destinations for Bitcoin and altcoin trading.
This Bitstamp review explores the crypto platform, how it works and the fees.
Bitstamp Review: Pros and Cons
Before we dive deeper into what Bitstamp is and how it operates, let’s take a look at some of its pros and cons.
As an investor, it’s important you learn about the strengths and weaknesses of trading on Bitstamp before signing up. Here are a few details to note concerning Bitstamp.
Pros
- Competitive Fees
- Intuitive Platform
- Beginner and Pro Version
- Early Bitcoin Adopters
- High-Flying Mobile App
- Regulated
- Deep liquidity
Cons
- Poor Staking Services
- Low Crypto Selection
- Withdrawal Fees
Your capital is at risk. Cryptoassets are a highly volatile unregulated investment product.
Tradable Cryptos on Bitstamp
Bitstamp is one of the best platforms to buy cryptocurrency. The platform has listed 75 digital assets so far as of mid-2022. These include popular names like the following:
- Bitcoin
- Ethereum
- Shiba Inu
- Ripple (not available in the US)
- Cardano
- Wrapped Bitcoin
- Avalanche
- Polygon
- Litecoin
- Uniswap
- FTX Token
- Chainlink
Bitstamp Fees & Commissions
A trading platform’s fees are one of the most important aspects to consider before using any of the crypto exchanges available. Bitstamp fees are arranged in a tiered system based on users’ 30-day trading volume. On average, you pay less fee when you trade more in a given month. The starting price is a 0.5% fee for trading volumes below $10,000. This drops to a 0% fee for a $20 billion trading volume. While this may sound amazing, such financial prowess can only be exercised by a deep-pocketed investor or institutional client, making the zero-fee system a myth for the average user.
In addition to Bitstamp crypto fees, investors should consider the platform’s deposit and withdrawal fees. This is charged based on the selected payment methods. There are many options available. Investors can buy Bitcoin with bank account or with a debit card. The platform also offers users the option of buying Bitcoin with credit cards. In terms of actual fees, deposits on SEPA, automated clearing house (ACH), and Faster Payments (UK) are free but card purchases are charged 5% per transaction. International wire transfers are charged 0.05% for deposits. However, direct crypto deposits are free.
Withdrawals work in a similar fashion. Fiat withdrawals for SEPA are pegged at €3, while ACH transfers are free. Faster Payments (UK) is charged a base value of £2, while international withdrawals incur a 0.1% fee.
Other fees accruable include a non-standard processing charge of 0.25% for transfer recalls, transfer trace, amendments, receipt, and others.
If you plan to stake your crypto assets on Bitstamp, there’s a standard fee waiting for using the service. Our review of Bitstamp shows that the platform charges a 15% commission fee for locking up the best staking coins. This is meant to cover the costs and fees associated with staking and unstaking assets.
Bitstamp Trading Fees
The Bitstamp fees schedule is itemised in a tiered system. These trading fees cover all tradable assets on the Bitstamp.com platform. Here is a comprehensive table for review:
| 0.5% | <$10,000 |
| 0.25% | <$20,000 |
| 0.24% | <$100,000 |
| 0.22% | <$200,000 |
| 0.20% | <$400,000 |
| 0.15% | <$600,000 |
| 0.14% | <$1,000,000 |
| 0.13% | <$2,000,000 |
| 0.12% | <$4,000,000 |
| 0.11% | <$20,000,000 |
| 0.10% | <$50,000,000 |
| 0.07% | <$100,000,000 |
| 0.05% | <$500,000,000 |
| 0.03% | <$2,000,000,000 |
| 0.01% | <$6,000,000,000 |
| 0.005% | <$20,000,000,000 |
| 0.0% | >$20,000,000,000 |
Cryptoassets are a highly volatile unregulated investment product.
Bitstamp Non-Trading Fees
Aside from its trading fees, our Bitstamp review found that the platform charges for some other services. These fees are under its non-standard processing system.
| Service Type | Euro | USD | GBP |
| Transfer return | 0.25% fee (min fee = €25) | 0.25% (min fee = $50) | 0.25% (min fee = £40) |
| Transfer trace | 30 | 35 | 25 |
| Transfer amendments | 30 | 35 | 25 |
| Administrative costs | 50 | 50 | 50 |
| Transfer recall | 30 | 35 | 25 |
| Transfer receipt | 30 | 35 | 25 |
| Bounced back transfers | Charged like a regular bank deposit | Charged like a regular bank deposit | Charged like a regular bank deposit |
Is Bitstamp User-friendly?
For a sophisticated platform, Bitstamp is easy to use and highly intuitive. The required steps to buy Bitcoin on Bitstamp are properly arranged at the top of the row, ensuring easy navigation.
The Bitstamp app also follows closely in the footsteps of the platform. Traders can move from funding their accounts to placing trades in minutes. The Bitstamp login process involves either a biometric scan or a passcode reference.
Users can easily buy Bitcoin on Bitstamp by typing the ticker symbol and clicking on ‘Buy BTC’. Knowing how to sell on Bitstamp is also beneficial to investors who day trade. The Bitstamp platform offers a plethora of withdrawal options that are easy to use and configure.
Your capital is at risk. Cryptoassets are a highly volatile unregulated investment product.
Bitstamp Charting, Analysis & Trading Tools
Bitcoin exchanges are weighted according to the number of sophisticated trading tools they offer. Bitstamp is not lagging in this department. The crypto exchange offers a fleet of high-performance tools.
First on the list is its algorithmic trading strategy that helps users automate buy and sell orders. One of Bitstamp’s most renowned algorithmic system is its copy trading service. Bitstamp is widely regarded as one of the best copy trading platforms around.
This feature is employed by investors to mirror the trades of more established traders. This strategy is popular with beginners. Established traders also utilise it to automate their trading strategies. Bitstamp’s copy trading service is easy to use and set up. Once funds are allocated, the platform will automatically mirror trades initiated by the selected trader in the user’s own portfolio.
Bitstamp also offers a sophisticated charting system comprising technical tools like relative strength index (RSI), exponential moving averages (EMAs), and Fibonacci retracement levels. Asset analysis is done using an in-house analytical tool which can be expanded or reduced, as the case may be.
Next after the analysis section is the order book, which automatically updates an asset’s purchasing price by the second. A depth chart is also available for measuring the liquidity of the underlying asset alongside an open order record for trades made with stipulated buy or sell limits.
The Bitstamp platform is top-tier when it comes to sophisticated trading tools and charting systems. Also, Bitstamp offers an API service across all platform offerings. This comes with real-time data streams, insights, as well as powerful analysis tools to fast-track the decision-making process.
There is also no standalone Bitstamp wallet aside from the exchange storage facility.
Bitstamp Account Types
Bitstamp offers only two account types for clients. That is the personal account and corporate account.
The personal account is mainly for individual users, who mostly transact low to mid-level trade volumes. This segment of users most times falls within the 0.5% trading fee segment. However, they also have access to the most advanced trading tools.
The corporate account is dedicated to professional traders and institutional investors. It is largely meant for business purposes and used by top financial houses to interface with the crypto space.
Users in this section usually fall within the $600,000 to $20,000,000,000 range and enjoy cheaper trading fees on average.
Your capital is at risk. Cryptoassets are a highly volatile unregulated investment product.
Bitstamp App Review
As we pointed out earlier, Bitstamp’s crypto app is available for both Android and iOS devices. In terms of design, the mobile app is clean-cut and visually attractive. The fonts are bold, well-placed and easy to work with.
The Bitstamp app scores high for usability. The mobile app is easy to navigate. Users can begin by clicking on the transfer-like icon to either trade, earn, deposit, or withdraw their gains. The mobile app is highly responsive and loads in seconds, making it easy for orders to be placed easily.
Our review of Bitstamp shows that its mobile app is beginner-friendly as it is intuitive and easy to place trades.
Bitstamp Payment Methods
Before you invest in cryptocurrency, one of the key details to check out is the number of payment solutions it supports. Most platforms support a limited number of payment gateways, making it hard for investors to enjoy flexibility and convenience in funding their accounts. Bitstamp is different.
Bitstamp checks these boxes as it offers access to multiple payment methods alongside direct deposits of three major fiat currencies: EUR, USD, and GBP.
Here are the platform’s payment methods:
- Bank wire transfer
- International wire transfer
- ACH
- Credit or debit cards
- Crypto deposits
- SEPA
- Faster Payments (UK)
Bitstamp Minimum Deposit
Bitstamp’s minimum deposit is 10 EUR/USD/GBP for the relevant fiat currencies. Direct Bitcoin deposits start at 0.0002 BTC, and ETH deposits are pegged at 0.002ETH for individual investors. However, institutional investors have a higher bar to meet, although this is not explicitly stated on its platform.
Bitstamp Withdrawal Times
There are no set times users can withdraw their funds from Bitstamp. However, each payment method has a different transaction verification period for withdrawals.
Bank withdrawals usually take three to five business days while SEPA payments take one to two business days. International wire transfers may also take three to five business days while domestic USD payments are much shorter, with a one to two daily transaction resolution.
Bitstamp Bonuses & Promos
See our full review of the Bitstamp referral program and its sign up bonus.
Bitstamp exchange is also currently running a crypto staking promo for US-based customers. Users who lock 0.1 ETH on Bitstamp will get $10 in ETH tokens, with the offer raised to $50 for 0.2 ETH staked. $100 worth of ALGO staked will earn a user $10 in ALGO, and $500 worth of ALGO will fetch $50 in Algorand coins.
The offer is valid till July 2, 2022. Users must stake their assets for a minimum of 30 days to stand a chance to earn.
Bitstamp Demo Account
There is currently no Bitstamp demo or practice account new users can learn through. However, this shouldn’t pose a problem due to Bitstamp’s intuitiveness.
Users can easily make trading decisions without much practice.
Your capital is at risk. Cryptoassets are a highly volatile unregulated investment product.
Bitstamp Customer Support
Bitstamp offers a 24/7 customer support service for its Pro users.
However, customers can reach out to the support team using either the complaints or support email addresses. There are also dedicated hotlines that users can call for assistance. In addition, a dedicated team of asset managers is on standby.
Bitstamp Licensing & Security
Following all regulatory blueprints, Bitstamp ensures its services are legally recognised in the countries in which it operates. Bitstamp is regulated by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg. And the platform upholds the highest level of anti-money laundering (AML) policies. It also follows a laid-down virtual asset service provider (VASP) in the country it operates.
To ensure security, Bitstamp enables institutional-grade security measures. This includes two-factor authentication (2FA) and multi-sig technology for its hot wallet, where a portion of users’ funds are stored. The vast majority of users’ funds are kept in an offline cold storage wallet. This is the expected standard for most crypto exchanges.
Bitstamp Accepted Countries
The Bitstamp trading platform is accepted in over 50 countries, including the US, UK, Norway, India, Iceland, Australia, Germany, Russia, Turkey, and Nigeria.
How to Start Trading with Bitstamp
Looking to buy Bitcoin on Bitstamp easily? Follow these quick steps to get started.
1. Create an Account
The first step is to register on the Bitstamp website. Click on the ‘Register’ button and fill in your full name, email address, and date of birth.
Click on ‘Continue’ to proceed to the next stage.
Cryptoassets are a highly volatile unregulated investment product.
2. Verify ID
All new users are required to provide a legally-recognised document to unlock the full suite of the Bitstamp experience. Tap on ‘Activate your account’.
Select your nationality and insert your home address, city, and postal code. Then, click on ‘Continue’. Proceed to upload a copy of your driver’s license or government-issued ID card. Click on ‘Verify’ to complete the process.
3. Deposit
The next step is to make a deposit. Investors using the mobile platform are to click on the transfer-like icon and select ‘Deposit’ from the list of popup options.
Select a deposit method and fill in the stipulated minimum of $10 or the applicable crypto amount. Click on ‘Deposit’ to fund your Bitstamp account.
4. Search for Crypto
Proceed to search for the digital assets of choice. Insert the ticker symbol into the search bar and tap on the relevant result.
Investors can also tap on ‘See all coins’ to view all the assets on offer.
5. Buy Crypto
After deciding upon a crypto asset, click on it to access the trading interface. Then, click on ‘Buy’ to open the order page.
Insert how much to invest, and click on ‘Buy’ to complete the trade.
Bitstamp Review – Conclusion
Bitstamp is one of the best places for crypto traders to invest in cryptocurrency due to its deep liquidity and competitive fees. Its trading tools are top-notch and our Bitstamp review extensively explored all the platform’s offerings.
However, compared to its counterparts, Bitstamp still has a way to go. The platform needs to work on its staking program and increase its supported crypto assets. In the areas of user-friendliness, Bitstamp ticks all the boxes, and its long-standing reputation makes it a safe place for investors to buy Bitcoin.
Cryptoassets are a highly volatile unregulated investment product.