Bitstamp Review
Bitstamp Review by professional Cryptocurrency trading experts, All you need to know about Bitstamp exchange like how to do Bitstamp login or how to open Bitstamp demo account, Finding out how to download Bitstamp trading platform, You will also know about what is Bitstamp minimum deposit and is Bitstamp app for Android and iPhone available or no.
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Bitstamp Review
| Broker | Min Account Size | Leverage | Spread | US Traders | Review | Open Account |
|---|---|---|---|---|---|---|
| $1000 | EUR/USD: 0.6 | Review | Free AccountDemo |
Bitstamp is a bitcoin exchange based in Luxembourg. It allows trading between USD currency and bitcoin cryptocurrency. It allows USD, EUR, bitcoin, litecoin, ethereum, ripple or bitcoin cash deposits and withdrawals.
The company was founded as a European-focused alternative to then-dominant bitcoin exchange Mt. Gox. While the company trades in US dollars, it allows money to be deposited through the European Union’s Single Euro Payments Area, a convenient way of transferring money between European bank accounts.
Bitstamp is one of the few cryptocurrency exchanges which accepts deposits directly from traditional payment methods. In essence this service can be used to obtain Bitcoin (via a bank transfer or credit card) which you are then free to send.
Bitstamp Ltd. is the company behind this project. They have offices in Luxembourg, London and New York. More importantly, this is the first fully licensed cryptocurrency exchange in Europe. It is regulated by the (Luxembourg Financial Industry Supervisory Commission, known as the CSSF). As we often warn against the risks involved in dealing with unregulated or off-shore forex brokers, it is nice to see a company in the cryptoverse, which is registered with a watchdog.
The CSSF Licensing ensures the company periodically files reports with the appropriate agencies. Bitstamp is registered as a “Payment institution”, which implies you can be sure about the real-money transfers you send to (and receive from them). That being said we don’t know if mandatory policies on fairness of execution are in place. No matter the case, this is much more than, what most other crypto-exchanges provide in terms of regulation.
Bitstamp was hacked in early 2015. Afterwards the company rebuild its entire trading platform. Nowadays they claim to store 98% of their client’s cryptocurrencies on cold storage, while only 2% are directly available on the exchange. This is a major improvement in terms of security.
Bitstamp partnered with Swissquote, in July 2017. The Swiss bank and broker, decided to trust this company, in order to provide Bitcoin trading to its clients. This speaks volumes in terms of Bitstamp’s credibility. At the time of writing of this review, there is no integration with the MetaTrader4 (MT4) platform. Trading is instead done on the Swissquote’s website, with limited functionality. This is bound to change in the future.
The user reviews for Bitstamp are fairly mixed. There are lots of satisfied customers and people claiming dissatisfaction with the support. Similarly to Poloniex, the company may be experiencing more significant traffic than expecting, but the negative comments are not that harsh.
Trading conditions
While we made this Bitstamp Review the Bitstamp.net allows trading cryptocurrencies against the old-fashioned EUR and USD. On the other hand few coins are supported, namely Bitcoin, Ethereum, Litecoin and Ripple. If you want to dive into more exotic altcoins, you can use Bitstamp as a way to convert your cash into one of these three and then transfer it to a different exchange which supports your preferred altcoin.
Bitstamp Minimum initial deposit
There is no information on the minimum deposit at Bitstamp. While this is not that unusual, when dealing with cryptocurrencies, the company does accept traditional payments. There may be a level below, which they would not accept your transfer. We are used to forex brokers disclosing their minimum entry levels beforehand, like easyMarkets, who require $100.
Bitstamp Fees
While we conducted this Bitstamp Review the commissions, charged by Bitstamp go as high as 0.25% for cash to cryptocurrency trades (for the lowest volumes). As is the practice with most other exchanges, they go lower with bigger volumes. The unusual aspect of this offering is that there is no incentive for the market “makers” (people who place orders on the exchange, instead of aggressively buying from the ones which other traders have placed). Most cryptocurrency exchange provide an ever so slightly lower fee for traders who provide liquidity.
Comparing this to the spreads provided by forex brokers is rather hard, as we have mentioned in our general comparison of the two type of service providers. On the other hand, Bitstamp’s fees are in-line with what other cypto-exchanges are offering.
Bitstamp Deposit Fees
Bitstamp broker operates a unified fee schedule which results in a lower fee system than the majority of cryptocurrency exchanges. The exchange maintains a comprehensive list of all its fees, and some of these include:
- International Wire – 0.05% Deposit fee (minimum fee = 7.5 USD/EUR, maximum fee = 300 USD/EUR)/ 0.09% Withdrawal fee, minimum fee is 15.00 USD/EUR on Bitstamp’s end and may incur additional international bank fees.
- SEPA – Deposits, free of charge/ Withdrawals 0.90 EUR.
- Credit Card Purchases – 5% for all amounts (an additional fee may be charged by the card issuer).
- Debit Card Withdrawals – $10 Fee for loading up to $1000.00, for loading more than $1000.00 a 2% fee is accrued.
- Trading – Costs .25% for monthly volumes under $20,000 this drops all the way down to .10% for a monthly volume of over $20 million. All non-USD trading volumes are converted to USD using a spot exchange rate at the time of each trade.
- Cryptocurrency – Deposits and Withdrawals of the cryptocurrencies traded on Bitstamp are made free of charge.
The minimum allowable trade is 5 Euro for Euro denominated trading pairs. The minimum allowable trade is 0.001 BTC for BTC denominated trading pairs. The value of minimum trades in other trading pairs will be denominated in the fiat currency of the particular trading pair and limited to 5 whole units of that currency (example: $5, £5, etc.).
Bitstamp Withdrawal Fees
Whatever withdrawal method you choose, a withdrawal fee will be deducted from the amount you entered in the withdrawal form.
SEPA WITHDRAWALS
- SEPA withdrawals are charged with a fixed 0.90€ fee once your funds are converted to EUR. In case the withdrawal is requested to be deducted from EUR balance, no currency conversion will take place.
- Minimum amount for SEPA withdrawals is 10.00€.
INTERNATIONAL WITHDRAWALS
- International withdrawals are charged with a 0.09% fee and the minimum fee is $15.00.
- Minimum amount for international withdrawal is $50.00.
- If you are withdrawing via International Wire transfer, your funds can be converted (if you wish) to the currency you want to withdraw: GBP, AUD, CHF, YEN(¥), CAD.
How To Use Bitstamp?
To know How to Use Bitstamp you can easily register with the broker’s website After sign up with the broker’s website then you will get the instructions by email and finding out How Dose Bitstamp Work.
Bitstamp Customer Service
Bitstamp Support is available 24 hours a day, 7 days a week, 365 days a year by phone numbers below:
Bitstamp USA Number for Is: +1 646 568 9784
Bitstamp UK Number Is: +44 20 3868 9628
Bitstamp Supported Countries
Bitstamp offers its exchange services in the United States, United Kingdom, Canada, Singapore.
Bitstamp also supports the following European countries:
Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland.
Bitstamp Address
Bitstamp Europe Address is:
PAYMENT INSTITUTION
Bitstamp Europe S.A.
21-25 Allée Scheffer
L-2520 Luxembourg
Luxembourg
Bitstamp UK Exchange
Bitstamp Ltd.
5 New Street Square
London EC4A 3TW
United Kingdom
Bitstamp USA Office
Bitstamp USA Inc.
99 Hudson Street, 5th Floor
New York, NY 10013
United States
Bitstamp Review Conclusion
By this Bitstamp Review now you know all about Bitstamp.net crypto currency broker, For more Bitstamp Reviews visit TopForexBrokers.com crypto currency brokers comparison website, Tip ForexSQ.com foreign exchange trading experts please by share this Bitstamp Review.
| Broker | Min Account Size | Leverage | Spread | US Traders | Review | Open Account |
|---|---|---|---|---|---|---|
| $1000 | EUR/USD: 0.6 | Review | Free AccountDemo |