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Review on Bitstamp by Fabrizio Zampieri

Revainrating 5 out of 5

Bitstamp is one of the oldest (it was founded by Damijan Merlak and Nejc Kodri…

Bitstamp is one of the oldest (it was founded by Damijan Merlak and Nejc Kodrič in 2011, in Slovenia) and most popular cryptocurrency exchanges. It has built upon its European user base. Nowadays Bitstamp has offices in a number of locations and provides cryptocurrency trading solutions to clients located across the globe (London, Luxembourg, New York).
It was also the first fully licensed cryptocurrency exchange in Europe and is currently regulated by the Luxembourg Financial Industry Supervisory Commission (CSSF). This ensures that the exchange periodically files reports with the appropriate agencies and is fully compliant in its practices.
It currently ranks among the top ten for its trading volumes. Bitstamp currently handles over $700m worth of cryptocurrency trades a day, and is one of the top exchanges for BTC/EUR, ETH/EUR trading pairs.
Bitstamp currently focuses on providing access to the most established cryptocurrencies and operates markets featuring Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP). There are currently 12 market pairs being traded on the site which are linked to the 3 base currencies of the Euro (EUR), the US Dollar (USD), and Bitcoin (BTC).



Pros
  • - Functionality: the Bistamp platform is generally well designed and relatively easy to use. The site contains all the key data on prices and orders, whilst also providing constantly updated charts and balances. In addition to this Bitstamp provides a mobile app that is available to both iOS and Android users. - Low Fees: Bitstamp operates a lower fee system than the majority of cryptocurrency exchanges and international wire deposits accrue a fee of .05% fee with a minimum of 7.50 USD/EUR. International wire withdrawals accrue a .09% fee and the minimum you can withdraw via this method is 50 USD/EUR. Trading fees cost .25% for monthly volumes under $20,000 this drops all the way down to .10% for a monthly volume of $20 million. - Security: the exchange places all its digital assets into cold storage, while its online assets are hosted on Amazon Web Services. In addition, its US Dollar Accounts are insured by the FDIC, while its funds are held in a New York-chartered bank. - Customer Support: FAQ section is available to answer the most common questions. Specific user inquiries are handled via email and the support team aims to reply to customer enquiries within a few hours. Members can also call their nearest office for emergency or more specific issues. - International Availability: in addition to be widely available across the EU and the US, the exchange is currently available to over 60 countries. These include Australia, Brazil, China, Hong Kong, India, Japan, New Zealand, Singapore, and South Korea. Fiat money accepted: Bitstamp allows its user to make purchases via a number of different methods. The exchange supports a variety of payment options which include Credit/Debit Card, International Wire Transfer, SEPA. In conclusion, the site is a good for choice for individuals and institutions looking to trade the core cryptocurrencies in either Euros or US Dollars.
Cons
  • - Limited cryptocurrencies supported. - High fees for credit cards deposits (as all exchanges, in general). - No Margin Trading. - Slow support response during busy working periods.

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