This review concerns Bitstamp, an online exchange verhoging that offers services regarding cryptocurrencies. The information that you will get from this article will help you choose the best option available to you spil a trader.
The investigation contains private take on the online business, with pros, cons and concluding remarks serving spil a genérico remark on the exchange.
About the Exchange
Bitstamp is a cryptocurrency exchange based te the UK, operated by a Slovenian management team. The company has registered business units te the United Kingdom, Luxemburg and United States, thus has entero market reach. Customers from different parts of the planet can trade with bitcoins, Ethereum, Litecoin, and Ripple.
Bitstamp offers both instant exchange and margin trading services for its clients. Verhoging orients towards both starters and experts, with an adjustable interface that suits different needs of traders.
Bijzonder from web marketplace, crypto investors can download free apps for phones, with both iOS and Android being supported by the company.
Registration and Verification
Registration at Bitstamp takes a different treatment than other exchanges. When creating an account on the toneel, you shall be provided with system-generated username and password. Your email serves spil recovery voorwerp should you toebijten to lose your codes, while password should be switched spil soon spil you loom te.
Verification is mandatory for trade to be available to you, much like ter Coinbase, EXMO, Poloniex, and itBit. Requested documents are scanned ID and proof of address, spil shown te the picture below.
Anyone with a credit card or canap account, linked to his or hier name, is eligible to participate te trade activities at Bitstamp. No matter if you are located te Germany or Mexico, you can use the different trade platforms that company offers. Thus, Bitstamp has a larger market reach than exchanges like Coinbase, which has limited regional coverage.
Deposit/Withdrawal Methods and Fees
At Bitstamp, you can fund your account using canap transfers and credit/debit cards. The canap transfer deposits cost 0.05% if carried out through international wire transfer, while SEPA accounts are free. Credit cards stand at 5%, much like at Coinmama, however higher than at Coinbase, which charges Trio.99% its customers.
The withdrawals are carried out through handelsbank transfers only, with fees standing at 0.09% (ondergrens $15). Chic from deposit/withdrawal costs, Bitstamp implements a single trading system. The fees range inbetween 0.25% and 0.1%, depending on monthly trade volume achieved.
Bitstamp offers several layers of protection for its customers, with functions that you can use being:
– two-factor authentication (2FA)
– email notification system
Speciaal from private protection, the company keeps a large portion of coins te offline cold storages. Bitstamp also provides audited reports on a yearly voet, since it operates spil a government regulated business.
Thus, wij deem the toneel spil more secure than other businesses te the industry, spil P2P platforms opoffering little to no protection and exchanges usually providing 2FA only.
Pros and Cons
+ offers both instant and margin trading
+ globally available services
– somewhat high credit card fees of 5%
– verification is mandatory prior to the trade
Bitstamp offers something for everyone, however at a little bit higher price than its competition. Starters can use instant exchange toneel, while experts might want to attempt out the margin trading at Bitstamp.
Ter both cases, verification of one’s identity is a vereiste while, spil a compensation, security is of better quality than what most competitors have.