Bitstamp Exchange Review
Bitstamp is a cryptocurrency exchange that enables users from around the globe to purchase and offer their favorite coins using either fiat or virtual currencies. Considering that its inception in 2011, the exchange has grown to reach other regions and later on turning into one of the Big Four exchanges.
How to open an account on Bitstamp
To purchase or offer cryptocurrencies on Bitstamp, one must create an account. When you go to the exchange’s homepage, click the Produce button. The two-factor authentication ensures your account is safe and secure. As a managed cryptocurrency exchange, Bitstamp validates all the accounts. Once your account has been verified, you can trade away.
What can you trade on Bitstamp?
The cryptocurrency exchange supports both fiat and virtual currencies. This function has boosted its popularity, as it has become simple to deposit or withdraw money on to the platform. The exchange allows for USD and EUR. Apart from Bitcoin, the exchange supports other coins like Ripple and Ethereum.
How to deposit money to Bitstamp
Bitstamp supplies its consumers with various deposit approaches to make it easy for them to enter the crypto space. They consist of a credit card, debit card, bank transfer (SEPA), wire transfer, and cryptocurrency which includes sending out coins from another external wallet.
What are the fees on Bitstamp?
Much like most of the other exchanges, Bitstamp produces its earnings from the fees it charges its consumers. The larger your trading volume is, the more you will save on paying fees. A few of the fees offered on this exchange include.
The least amount you can trade on the exchange is $5. New members and those with the low regular trading volume per month on the exchange pay a fee of 0.25%, which is the highest on the platform. The fees reduce with a boost in the trade approximately the least expensive charge of 0.1 percent to those with a month-to-month trading volume of over $20 million.
If you deposit funds to your accounts with cryptocurrencies (or SEPA), then you’re not charged anything. Credit card and wire deposits bring in charge of 5% and 0.05%, respectively. The smallest deposit is 7.50 USD.
The smallest amount you can take out from your account is 50 USD. Withdrawals in cryptocurrency don’t attract any fee. However, the company charges SEPA withdrawals EUR0.90 and wire 0.09 percent. Withdrawing under $1,000 through debit card draws a $10 fee while quantities more than $1,000 are charged 2 percent.
How safe is Bitstamp?
Countries like Canada and South Korea are searching for ways to make the crypto sector more safe and secure; exchanges are doing the same too. To improve the security of their clients’ accounts, the exchange utilizes a 2-factor authentication technique. The exchange is among the most secure platforms to purchase or sell various altcoins.
The exchange is among the most dependable cryptocurrency exchanges, especially amongst experienced crypto traders. Provided the widespread availability of the exchange internationally, it assists in the trading of various coins in lots of areas. When you wish to handle an exchange that has been around for long and has preserved great credibility, you must go no even more.