Bitstamp is one of the oldest and most popular cryptocurrency exchanges that offer a simple-to-use platform with a good selection of cryptocurrencies to buy and sell. The exchange offers a good user experience for new investors, as well as active traders that want access to advanced trading tools. While Bitstamp does not offer as many cryptos to trade as some of its competitors, its longstanding history in the industry and the simple user interface have made it a popular exchange for buying and sell crypto.
This review will cover the details of the Bitstamp platform, including its features, available crypto, fees, trading experience (on desktop and mobile) and security measures so you can make an informed decision if it's the right exchange.
- Well-established and reputable exchange since 2011
- Competitive trading fees of 0.00% - 0.50%
- Supports 54 cryptocurrencies
- 24/7 customer support
- OTC trade desk for institutional investors
- Bitstamp Earn to earn interest on crypto holdings
- Crime insurance to protect users from theft
Bitstamp is a time-tested crypto exchange that offers basic trading services and a simple user interface for new investors. Founded in 2011, Bitstamp gives users access to over 50 cryptocurrencies for buying, selling, trading, and earning interest on certain crypto holdings. Bitstamp also offers an advanced trading platform for seasoned traders, as well as institutional trading services for enterprise-level clients.
Bitstamp is a decent exchange for both crypto newbies and veteran investors alike, and features a discounted fee structure for higher-volume traders (as low as 0.00%).
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What Is Bitstamp?
Bitstamp is a cryptocurrency exchange that allows users to buy, sell, and trade popular digital assets. As one of the oldest crypto exchanges in the market, Bitstamp was founded in 2011 as an alternative to the Mt. Gox Bitcoin exchange that was aimed at European residents. Bitstamp was founded in Slovenia and now is available in over 100 countries with additional offices in the UK, Luxembourg, USA, and Singapore.
Bitstamp At A Glance
Bitstamp is a popular cryptocurrency exchange that is available globally with access to 54 cryptocurrencies for buying, selling, and trading. Bitstamp is designed to cater to both retail and institutional investors with an OTC trade desk and 24/7 customer support for enterprise clients. Bitstamp supports multiple fiat currencies, including Euro (EUR), U.S. Dollars (USD), Great British Pounds (GBP) and Swiss Francs (CHF).
Certain limitations with Bitstamp lower its appeal. These include limited support for altcoins, expensive trading fees for low-volume users and does not have margin or derivatives markets. Given its long-established history, there appears to be a lack of development to keep up with the fast-paced cryptocurrency industry and the services it can bring to benefit its users.
|Fiat Currency||4 (EUR, USD, GBP, CHF)|
|Payment Type||Cryptocurrency, Instant SEPA, ACH, Wire Transfer, Credit Card, Debit Card|
|Trading Fee||0.00% - 0.50%|
|Deposit Fee||Varies per country and deposit method|
|Withdrawal Fee||Varies by withdrawal method and currency|
Pros & Cons
Bitstamp may not be the biggest crypto exchange but does offer useful benefits such as a simple-to-use mobile app, advanced trading terminal, interest-bearing accounts and 24/7 customer support. The downside of Bitstamp is the lack of supported crypto, higher trading fees and does not offer a feature-rich platform compared to the larger exchanges. For example, there are no features like borrowing and lending products, margin or derivatives trading.
- Simple user interface for spot trades
- Advanced trading interface are available
- OTC trade desk for enterprise clients with dedicated account managers
- 24/7 customer support and mobile app
- High fees for credit and debit card purchases
- Some features are not available in the U.S.
- Only 54 cryptocurrencies to buy, trade and sell
- No margin, derivatives, or leveraged markets
Is Bitstamp Safe?
Bitstamp has implemented numerous security options for user account protection as well as institutional-grade security for offline hardware storage. Examples of user account security measures include Two-Factor Authentication (2FA), withdrawal email notifications and the ability to remotely disable the mobile app if misplaced.
Although, Bitstamp did suffer a $5 million hack back in 2015 due to a phishing scam of employee credentials. The hackers stole almost 19,000 Bitcoin, which is worth significantly more today. Bitstamp responded by quickly shutting down the compromised servers and rebuilding the entire server stack from the ground up, outsourcing cold storage to Xapo, and implementing a MiltiSig wallet for all crypto storage.
While a cryptocurrency exchange hack can be unnerving, this was over seven years ago (longer than most other exchanges have even existed) and Bitstamp has not suffered a major security incident since. Overall, Bitstamp can be considered a relatively safe crypto exchange for users and institutional investors alike.
Are US Investors Allowed?
Bitstamp is licensed and regulated by the state of New York and is available to residents of all 50 states in the USA. While U.S. investors are allowed to use Bitstamp’s trading services, as well as directly buy and sell crypto on the exchange, they cannot earn interest on deposits due to strict U.S regulations.
Bitstamp Top Features
Supports The Major Cryptocurrencies
Bitstamp supports 54 cryptocurrencies including major assets like Bitcoin (BTC), Ethereum (ETH), XRP (XRP) and Cardano (ADA). The exchange lists several stablecoins including Tether (USDT), US Dollar Coin (USDC), Dai (DAI) and Paxos Standard (PAX). The valuation and performance of each coin can be shown in USD, EUR, GBP and BTC which is a useful feature.
In comparison to similar trading platforms, Bitstamp has a limited range of listed crypto projects and does support some popular coins by market capitalization such as Solana (SOL), Avalanche (AVAX), Terra (LUNA), and even Dogecoin (DOGE). Moreover, XRP is also not available to U.S traders which is disappointing and should be considered for inclusion. For traders that want access to a larger selection and some of the more popular altcoins on the market, they will want to check out larger exchanges such as Binance, Huobi, FTX and Coinbase.
Beginner & Experienced Trading Platform
Bitstamp offers two platforms for spot trading that comprises of a basic platform available under “Markets” where beginners can perform basic trades, buying or selling cryptocurrency. Individuals with more experience will be able to exchange fiat for crypto or trade crypto-to-crypto directly.
The advanced platform is called “Tradeview” and features TradingView charts with multiple indicators and advanced charting tools. Users can view live order books, place instant, market, limit, and stop orders and see a depth chart for each trading pair.
On review of the trading experience, serious crypto traders will find the lack of advanced orders (e.g. One-cancel-the-other) and inability to trade with margin or leverage to be a major limitation and will seek competitor platforms.
OTC Institutional Services
Enterprise-level investors have access to a 24/7 trade desk, advanced security, deep liquidity and API connectivity through its institutional trading platform. This is ideal for hedge fund managers, enterprise investors and even FinTech companies that want to create a custom crypto investing solution for their customers. Bitstamp also offers 24/7 customer support with a dedicated account manager for all institutional customers.
To compete with popular lending and borrowing services, Bitstamp offers the ability for its users that hold certain cryptocurrencies on the platform to earn interest. The two cryptocurrencies that are supported are Ethereum 2.0 and Algorand with estimated rewards of 5.11% APY and 0.78% APY. While the selection of interest-yielding coins is very limited, it is assumed the number of supported coins to earn interest on will increase in the future. For a list of platforms that offer a greater selection of assets to earn interest, read our article on the best places to earn crypto interest.
A simple platform, access to advanced trading features and reasonable fees for traders make Bitstamp a quality crypto exchange to use. The table below compares Bitstamp to HedgewithCrypto's top-rated platforms in terms of supported crypto assets, trading fees and overall rating.
|Exchange||Crypto Assets||Trading Fees||Rating||Promotion||Website||Review|
|Up to $100 welcome bonus||Visit Binance||Binance Review|
|319||0.02% / 0.07%|
|5% off trading fees||Visit FTX||FTX Review|
|Up to 500 USDT in bonuses||Visit KuCoin||KuCoin Review|
|54||0.00% - 0.50%|
|None available at this time||Visit Bitstamp||Bitstamp Review|
According to the Bitstamp website, the exchange is available in over 100 countries around the globe including the United States. While there is no stated list of prohibited countries on the Bitstamp website, the anti-money laundering (AML) policy states that “Bitstamp is prohibited from transacting with individuals, companies and countries that are on prescribed sanctions lists.”
Bitstamp mandates a Know Your Customer (KYC) process on all accounts to comply with local regulatory authorities and prevent money laundering and fraudulent activities. Users cannot place trades, make deposits, or withdrawals on Bitstamp without going through the verification process.
Verification will require a legal name, address and personal identification number (such as a social security number). In addition, the exchange will require an image of a Government-issued ID, selfie and proof of residence.
Funding & Limits
Bitstamp supports 3 different fiat currencies and 6 payment methods to fund an account. The payment methods include Instant SEPA in European countries and ACH in the United States. There is the option to make a deposit using debit or credit cards but there is a hefty 5% additional fee.
There are no deposit limits for transfers from a bank account. However, purchases with debit or credit cards are limited to 2,500 per day (USD/EUR/GBP) and 20,000 per month (USD/EUR/GBP). Most withdrawal methods are not restricted except for ACH and Faster Payment System (FPS). ACH withdrawals are limited to $50,000 per transaction 250,000 GBP per transaction for FPS.
Volume and Liquidity
Bitstamp has reasonable trading volume for Bitcoin and Ethereum that is comparable to top exchanges such as Crypto.com Exchange, Gemini and BitFlyer. The exchange reportedly trades over $200 million in daily trading volume, more than half of it in Bitcoin and Ethereum trades. The BTC/USD trading pair on Bitstamp has a liquidity score of 639 based on CoinMarketCap’s liquidity rating, which measures slippage on various order sizes. This score is out of a potential score of 1,000, and is one of the higher ratings for an exchange.
While Bitstamp offers decent liquidity and deep order books for Bitcoin and Ethereum, the depth of liquidity on the lesser-known assets is lacking. Investors that want to do VERY large volumes of altcoins will need to use larger exchanges such as Coinbase or Binance to reduce slippage. Therefore, Bitstamp may not be ideal for high net-worth investors and professional day traders that trade altcoins due to the low liquidity.
Bitstamp Trading & Ease of Use
Bitstamp offers a simple trading interface for new users and a more advanced trading interface for active traders. The basic interface is available under “Markets” and offers a simple line chart as well as an order form that is ideal for new traders. Users can place more advanced orders even in this interface including market, limits and stop orders. The Instant Orders feature is designed for beginners. Here, they will be able to simply input the total amount to spend, select the cryptocurrency and Bitstamp will execute the trade.
Advanced traders can use the “Tradeview” option, which offers more advanced charting and tools for active traders. Included is an interactive TradingView chart with built-in indicators and drawing tools, as well as live order books. For active traders, the same order types are present on the simple interface. The main differences are the candlestick charts, recent trades and market depth charts. Bitstamp has integrated with TradingView chart in the “TradeView” platform which is the "gold standard" for crypto charting software. There are hundreds of indicators and drawing capabilities to customize any trading chart which includes - but not limited to:
- Exponential Moving Averages
- Bollinger Bands
- Relative Strength Index (RSI)
- And many more
In short, while the user interface is comparable to Coinbase Pro, trading on Bitstamp lacks modern and advanced risk management tools for serious crypto traders.
To place an order on Bitstamp, there is a simple order window available with multiple order types to choose from, including Instant, Market, Limit, and stop orders. The advanced TradeView mode shows live order books, as well as a running trade history for each cryptocurrency listed.
The size of the position can be quickly pre-filled using the 25%, 50%, 75% and 100% shortcut buttons which are expected by traders using a modern-day crypto trading platform. The trading fees are automatically calculated depending on the trade amount. Users can execute any order type when buying or selling their selected crypto.
Bitstamp has a maximum trade fee of 0.50% for low-volume traders. There are discounts for trading higher monthly volumes up to 0.00% fees for traders that execute over $20 billion in trading within 30 days. The trading fees are on par with exchanges such as Coinbase Pro and Gemini. However, there are better value-for-money exchanges such as Binance and Huobi that have lower fees at 0.1% and 0.2% respectively.
|Trading Fee||30 day Trading Volume|
Moreover, Bitstamp does not have a platform token to offer trading fee discounts. Given the starting fees are already above market rates, there is no incentive for high-volume retail traders to use Bitstamp when there are limited incentives. Other trading platforms like Bitstamp will offer up to 25% fee discounts for holding the native token of the exchange.
|Exchange||Trading Fee||Token Discounts|
Bitstamp Mobile App
Bitstamp offers an intuitive mobile app for trading on the go that is available for both iOS and Android devices. Users can download the app, create an account, verify their identity, deposit funds, complete trades and make withdrawals, all from the mobile app. Bitstamp’s trading app has an overall 4.1/5 star rating on the Android marketplace based on more than 11,000 reviews.
There are a few complaints from existing users about identity verification and 2FA on the app, but each complaint is responded to by a Bitstamp customer service representative, so at least they are proactive about helping.
Security of Assets
Bitstamp places 98% of all crypto assets in cold storage (in partnership with BitGo), which means they are not connected to the internet and are stored in encrypted servers. In addition, after the 2015 hack, Bitstamp enabled Multi-Sig wallets, requiring multiple digital signatures to access funds on the active hot wallets that hold approximately 2% of all customer funds.
Bitstamp also protects customer funds on the platform with crime insurance, which insures both cold and hot wallet assets. This gives users even more peace of mind when using the platform.
Frequently Asked Questions
While Bitstamp keeps user funds in hot and cold wallets on the platform, Bitstamp is not a wallet service, and does not offer a customer digital wallet. Users that want to transfer funds on and off the platform will need to utilize their own digital hot wallet, or a hardware wallet to secure their assets.
While news of the hack in 2015 might make potential customers nervous, with massive improvements in infrastructure and cybersecurity, as well as insurance against theft, Bitstamp has become a safer place to buy and sell crypto. It also requires identity verification and two-factor authentication just to use the platform, so bad actors will hopefully avoid the platform.
Bitstamp is ideal for users that want access to a simple-to-use platform, combined with 24/7 customer service and global availability. While it doesn’t offer all the bells and whistles of some of the larger exchanges, it does a decent job of providing a place for crypto newcomers and experienced traders alike. Bitstamp is one of the oldest exchanges around, and the fact that it is still around is a testament to the quality and reliability of this platform.Visit Bitstamp
HedgewithCrypto strives to provide independent, factual and unbiased reviews of cryptocurrency exchanges and trading platforms to help readers make an informed decision about picking the right crypto exchange. The review process includes examining the website and external sources, creating and funding an account, demonstrating and experiencing the features of the platform and calculating an overall weight-average rating.
A rating between poor (1 star) and best (5 stars) with 0.1 increments is given. For further information on the criteria and categories that are evaluated, read the exchange review process.