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Bitstamp Exchange Review: Fees, Pros, Cons and Features 2022

Founded in 2011, Bistamp boasts an average trading volume of around $304.10 million per day. While the number of supported currencies was low, Bitstamp has now addressed that issue.
Rating 4.8/5

Bitstamp pros and cons

Pros:

  • Accepts debit/credit cards and bank transfers
  • Available to all countries (if depositing with crypto)
  • 24/7 phone support
  • Good selection of charting tools

Cons:

  • Supports 54 cryptocurrencies, fewer than major exchanges
  • Unable to go-short
  • No live chat facility
  • Limited number of supported countries for debit/credit card deposits
  • Slow verification

Bitstamp is one of the most established cryptocurrency exchanges in the industry. Launched way back in 2011, the platform allows users to buy, sell and trade different cryptocurrencies. Bitstamp is also hugely popular because they allow you to buy cryptocurrencies using fiat currencies such as USD and EUR.

If you’re thinking about opening an account with Bitstamp for your cryptocurrency trading needs, then be sure to read our comprehensive guide first.  We’ll cover everything you need to know, such as fees, security, user-friendliness and more.

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Contents [show]

    If you don’t have the time to read the entire review, then as an overview, we should note that Bitstamp offers an easy-to-use and secure cryptocurrency trading platform but we recommend Coinbase. Keep on reading to find out why.

    What is Bitstamp?

    Bitstamp is a cryptocurrency exchanges that is headquartered in Luxemburg. Although the platform originally focused on E.U. clients, it now offers its services on a global basis.

    The Bitstamp exchange allows you to buy and sell different cryptocurrencies, and you can deposit and withdraw funds using everyday payment methods such as a debit/credit card or bank account.

    As the platform has been in operation since 2011, it is one of the most long-standing exchanges in the Bitcoin trading scene. At the time of writing, Bitstamp averages a trading volume of around $40 million per day. This is significantly lower in comparison to other exchanges such as Coinbase, Bitoasis, or Kucoin.

    How does Bitstamp Work?

    Bitstamp operates in a similar manner to other leading cryptocurrency exchanges in the industry. Once you open an account and deposit funds, you’ll have the option of buying and selling coins. The platform itself is essentially a third party intermediary between buyers and sellers.

    As such, when you buy crypto at Bitstamp, you’re not actually purchasing it directly from the exchange. Instead, you are buying coins from another person, of which Bitstamp facilitates.

    In return for matching buyers and sellers, Bitstamp charges users trading fees. This allows the platform to offers its services without disruption.

    Unlike other leading cryptocurrency platforms, Bitstamp only allows to go-long. This means that while you have the option of making a profit if you think a cryptocurrency will increase in value, you can’t repeat the process if you think the markets will fall.

    This is a major disadvantage, as day trading professionals operating in the cryptocurrency markets like to have the option of going both long and short.

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    68% of retail CFD accounts lose money.
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    Bitstamp alternatives

    68% of retail CFD accounts lose money.
    As prices of digital assets are highly volatile, users could lose all or a substantial portion of the value of any digital asset they purchase.
    74% of retail investor accounts lose money when trading CFDs with this provider.
    The price and value of any investment in digital asset products can fluctuate.
    The traded price of digital tokens can fluctuate greatly within a short period of time.
    Market prices for digital tokens can be volatile and highly unpredictable.
    As with any asset, the values of digital currencies may fluctuate significantly.
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    71% of retail CFD accounts lose money.
    Rating
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    Mobile App Rating
    10/10
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    9/10
    9/10
    9/10
    Mobile App
    Wallet
    Number of Coins
    13410859223412465215
    Trading Fees
    Spreads0.2%Spreads0.1%0.1%0.1%0.1%0.50%Spreads
    Deposit Fees
    N/AN/AN/AN/AN/AN/AN/AN/AN/A
    Withdrawal Fees
    $5N/AN/A0.0005 BTCN/AN/AN/AN/AN/A
    Regulated
    ASIC, CySEC, FCAN/ACySECN/AN/AN/AFCAFCACBI, MiFID
    Min. Deposit
    $50N/A100 EURN/AN/A$10$10$2$100
    Leveraged Trading
    N/A1-200xN/A1 - 100x1 - 100x1 - 10x1 - 100xN/A1 - 30x
    Bitcoin
    $30374.69$40377.55$30493.14$30394.43$40391.88$40393.04$40404.41$40416.27$30477.95
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    $0.44$0.78$0.43N/A$0.23N/A$0.78$0.30$0.43
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    $1.00N/AN/A$1.00$1.00N/AN/A$1.00N/A
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