Bitstamp Exchange Review

bitstamp

March 13, 2019

FrederikNielsen
21

Platform Review – Bitstamp

Bitstamp had become one of the biggest crypto exchange platforms since 2011 when it was founded, by growing first domestically and to other regions. It has users all over the world who buy and sell different types of cryptocurrencies both with real money or coins.

Introduction to Bitstamp

Users need to open up an account on Bitstamp to be able to trade coins on the platform. To do that users have to follow to the main page of the platform and go to Produce section. Bitstamp requires two-step verification to ensure the security of accounts for all users. Similar to other significant exchange platforms Bitstamp validates each account and only after official verification user will be able to manage transactions.

One of the main reasons for the rapid growth of Bitstamp was the function of supporting real money and coins since it made all transactions much easier. The exchange platform accepts most popular currencies and supports most used coins like USD and EURO as well as Bitcoin, Ripple and Ethereum.

bitstamp

Depositing Options

Bitstamp makes everything to make entry to the platform as convenient as possible; it provides many different types of deposit methods. Namely, platform accepts debit and credit cards, bank and wire transfers as well as crypto coin transfers from different wallets.

Commissions on Bitstamp

Much like most of the other exchanges, Bitstamp produces its earnings from the fees it charges its consumers. The larger your trading volume is, the more you will save on paying fees. A few of the fees offered on this exchange include.

Bitstamps profit model is very similar to business models of other platforms; they generate revenue out of commission fees they charge users. As in classic commission system as larger your transactions as less you pay a fee. Platform charges fees on the following steps:

Trading Commissions

The platform allows transactions with the value of at least 5 USD. Users new to the platform or those who have low monthly transactions pay the highest percentage commission fee on a platform which is 0.25%. Commission fee does decrease with the increase in monthly trade value, and the least point is 0.1% for monthly transactions over 20 million USD.

Deposit and Withdrawal Commissions

Depositing on the platform starts at 7.5 USD and more. Users can deposit from a credit card with 5% commission fee and from wire deposit with 0.05% commission fee. If users deposit with coins or SEPA from any other wallet, they will not be charged any fee.

Withdrawals on platforms start with the least amount of 50 USD, and rate for withdrawal to the card is 10 USD for withdrawals under 1,000 USD and 2% for more than 1,000 USD. Other charged options are SEPA withdrawals with 0.9 EUR and for wire 0.09%. Similar to depositing cryptocurrency withdrawals to any other wallet are not charged.

Security Measures

Some countries like Canada and South Korea are trying to become the crypto capitals of the world by providing more secure crypto industry, similarly, most exchange platforms are following the same path. As mentioned before platform requires two-step validation and official approval of the platform to accept a new user. That makes Bitstamp one of the most reliable and secure platforms for coin transactions.

bitstamp

Review Recap

The exchange is among the most dependable cryptocurrency exchanges, especially amongst experienced crypto traders. Provided the widespread availability of the exchange internationally, it assists in the trading of various coins in lots of areas. When you wish to handle an exchange that has been around for long and has preserved great credibility, you must go no even more.

Shortly if you are looking for a trust-worthy, reliable platform with lots of different coins, look no more because Bitstamp is one of the oldest platforms with huge international user base giving a very wide range of traded coin types. Also, this platform is preferred by more experienced professional traders with big transaction values.

Frederik Nielsen
Frederik Nielsen

I’m a freelance writer and full-time curious person. My main interests are philosophy, politics, art, culture, science, and how they’re all interlinked. When I’m not writing, I’m fronting a band, producing records, and making videos. I’m also currently working on launching a YouTube channel that will focus on culture and politics. I think blockchain technology is fascinating because of the huge potential it has to revolutionise not only the financial sector, but society as a whole.

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