1 Level
5 Review
2 Karma
Review on Bitstamp by Przemek Czajkowski
Review of Bitstamp exchange
Bitstamp exchange allows users to request their immediate offers at the best bid or price, as well as orders for filtering location and other options.
Bitstamp is the world's first to use the best security practices, including MultiSig technology, for its wallet.
Bitstamp has a good mobile app, but this app has a lower rating on the Apple Store. Users complain that the update in this app is slow and does not provide all the features that are available on the site.
The purpose of this cryptocurrency exchange is to eliminate the gap between the cryptocurrency instruments and the traditional financial industry.
Due to the hacking of this cryptocurrency exchange in 2015, the ability to connect to the site with Trezor and Ledger hardware wallets can help ensure users who want to set a certain amount of their cryptocurrency for online exchanges.
Depositing crypto money on the account, then converting them to USD/other fiat money, and then withdraw to a bank account using a credit card.
Pros
- Convinient platform that supports fiat money - you can deposit USD (or other fiat money), convert it to crypto and it can be done in the opposite way - convert crypto money to fiat money and withdraw it to your credit card/bank account.
- Bitstamp API - easy to use and implement in your website or mobile app.
- Low trade fees - comparing to most of the crypto exchanges.
Cons
- Frozen withdrawal of funds - two weeks and no answer from support - that happened many times (in this case - the service has disabled the withdrawal of funds due to the withdrawal of funds to suspicious addresses).
- Withdrawals sometimes are getting canceled after few minutes (it's not problem in my credit card/bank account).
- Bitstamps is not offering a referral program in their platform.
- Small amount of crypto assets to trade - only BTC, BCH, ETH, XRP, LTC.
