Bitstamp Overview
Bitstamp was launched by Damian Merlak in 2011. The platform was initially launched in Slovenia but later on moved to Luxembourg, where it has its offices to this day. Bitsamp focuses on offering a safe and regulated crypto environment for users from over 150 countries.
In this Bitstamp review, we will show you everything you need to know, like features, trading options, supported assets, fees, security, customer support, and more.
Bitstamp Pros & Cons
| ✅ Bitstamp Pros | ❌ Bitstamp Cons |
|---|---|
| Available in the US | High trading fees |
| Fully regulated | Poor liquidity |
| Very reliable | Only 80 coins supported |
| Beginner friendly | Lacks advanced features |
Bitstamp Products & Services
Launched in 2011, Bitstamp is one of the oldest crypto exchanges with tons of products and features. Traders can access spot and futures trading for over 86 cryptocurrencies. Aside from cryptos, Bitstamp offers precious metals and Forex trading pairs.
What makes Bitstamp stand out most is its regulatory standing. Bitstamp is regulated in Europe by the Luxembourg Financial Regulator (CSSF) and operates in over 150 different countries.
For passive income, Bitstamp offers staking products with up to 16% APY on staked cryptos.
If you don’t own cryptos yet, you can easily deposit funds on Bitstamp using your credit/debit card or bank transfer. Over 10 fiat currencies are supported for instant purchases. For selected currencies such as Euros, users can even deposit fiat using SEPA transfer.
For mobile users, Bitstamp offers an app called “Bitstamp Pro”. The app is available for Android and iOS phones with a 4.1/5 star rating. After testing over 60 crypto exchange apps, we consider the Bitstamp app to be perfect for beginners, but it is below average for experienced traders.
Bitstamp Trading Features
Spot Trading
Bitstamp offers spot trading for over 86 different coins. The interface is very user-friendly, making Bitstamp a great choice for beginners who want to get started in the crypt market. For more advanced traders, Bitstamp offers a unique interface called “Bitstamp Pro”.
While this is meant for more experienced traders, we don’t consider it a serious option for day traders due to a lack of liquidity and lack of advanced features and order types.
Bitstamp Fees & Costs
Spot Trading Fees
Bitstamp charges different fees for crypto and forex trading:
- Bitstamp charges 0.3% fees for makers and 0.04% for takers on the crypto spot market.
- The forex trading fees are 0.06% maker and 0.08% taker.
Based on your 30-day trading volume, Bitstamp offers additional trading fee discounts. However, Bitstamp has very high fees when compared to other crypto exchanges.
Bitstamp Deposits & Withdrawals
Deposits
Bitstamp supports multiple networks for free crypto deposits.
For fiat deposits, Bitstamp supports over 60 fiat currencies, including USD, EUR, GBP RUB, and more, through the following payment methods:
- Credit/Debit card
- ACH
- SEPA Bank transfer
Fiat deposit fees range from 1% to 3% based on your fiat currency and payment method.
Withdrawals
The Bitstamp crypto withdrawal fees are dynamic and are based on the respective network capacity. Bitstamp supports multiple networks for crypto withdrawals, including:
- Bitcoin
- ERC20
- MATIC
- Litecoin
- XRP
- SOL
For fiat withdrawals, Bitstamp supports withdrawals via Bank transfer.
Bitstamp Customer Support
Bitstamp only offers email support. The average response time is 24 hours. Overall, the Bitstamp staff seems to be knowledgeable and helpful. However, we expect 24/7 live chat support in the crypto industry.
Bitstamp Security
Bitstamp is regulated and licensed by the Luxembourg Financial Regulator.
Bitstamp stores customer funds in multisig cold storage wallets. While we consider Bitstamp to be a secure crypto exchange, we advise you to store your cryptos in a personal wallet.
You can also add additional security features to safeguard your account:
- Two-factor authentication
- Email verification
- SMS verification
- Device & connection security
Bitstamp Signup & KYC
Bitstamp requires KYC verification. Without KYC verification, you can not use Bitstamp. In order to verify your identity, you must submit personal details:
- Personal Details
- Government-issued ID
- Selfie
- Proof of residence
- Utility bill, bank account statement
Bitstamp Review Summary
Bitstamp is one of the oldest and most reliable crypto platforms. The exchange offers over 86 different cryptocurrencies.
Due to high fees and poor liquidity, we can’t recommend day trading on Bitstamp. However, for beginners, we think Bitstamp is an excellent choice due to its user-friendliness and high security level.
Overall, we consider Bitstamp to be a top choice for beginners and passive investors who don’t want to day trade.
FAQ
Is Bitstamp legit?
Yes, Bitstamp is a legitimate crypto exchange with over 5 million users.
Does Bitstamp require KYC?
Yes, Bitstamp requires KYC verification. Without identification, you can not use Bitstamp.
Is Bitstamp available in the US?
Yes, Bitstamp is available in the United States.
What are Bitstamp fees
Bitstamp crypto fees start at 0.3% for maker and 0.4% for taker orders. Forex fees are 0.06% maker and 0.08% taker.
