Review on Bitstamp by Fanuel PORPORTY
One of the oldest Bitcoin exchanges, created in 2011 to end the fiery hegemony of MtGox.
Bitstamp is a cryptocurrency trading platform created in 2011 by Nejc Kodrič and Damijan Merlak. The company was originally established in Slovenia, before relocating to the United Kingdom in 2016 to complete its trip to Luxembourg. However, the company kept its London office, and opened an additional one in New York. The co-founders of the exchange intended to offer an alternative to Mt Gox for European customers. This bet was successful, since the exchange has established itself as a major stock market after the hack and the fall of Mt Gox.
Bitstamp currently ranks 11th in daily volumes with $ 220 million in transactions per day, which allows it to benefit from decent liquidity even in bear market times. Finally, Bitstamp provides its API to allow users to use custom software to perform their operations and access their account. However, be careful when using third-party software containing the APIs of your exchange accounts, as they can lead to security breaches. After this brief presentation, let's get to the heart of our opinion on Bitstamp.
Pros
- a clear and inexpensive fee and commission structure, transparent practices and in compliance with existing regulations.
- The exchange also offers its services through a completely secure mobile application available on Android and iOS
- Finally, 98% of the funds are in cold storage in a secure warehouse, which necessarily encourages confidence.
Cons
- we can blame Bitstamp for not offering a wider choice of cryptocurrencies. But also, the absence of margin trading, effectively excluding the possibility of carrying out leveraged transactions, which is very popular with experienced traders.
- the length and intensity of the audit.
