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Bitstamp Crypto Exchange
Cryptocurrency exchanges have really grown since crypto officially began. Bitstamp is one of the oldest exchanges available. It was established in 2011. It was one of the first places you could buy and trade cryptos! Let’s have a look at what this platform offers.
Bitstamp Overview
| Established | 2011 |
| Location | UK, United States, Singapore, and Luxembourg |
| Currencies | 106 |
| Website | bitstamp.net |
- Easy to use
- Competitive fees
- Responsive customer support
- Crypto staking available
- Android and iOS mobile app
- Limited currencies
- Slow verification process
- 2015 security breach
Bitstamp Features
Security
Blockchain technology makes cryptocurrency transactions secure. Bitstamp offers several security measures:
- Two-factor authentication (2FA)
- E-mail confirmation for withdrawals
- Cold storage
- Insurance against crime-related losses
Currencies available
The platform offers 106 assets you can trade, unlike other exchanges which offer thousands of crypto assets. However, these assets cater to the majority of crypto investors as you will find both major and minor projects.
Some of the assets on the platform include:
- Bitcoin
- Ether
- Solana
- Dogecoin
- Uniswap
- Enji Coin
- Stellar Lumens
- Tether
- USDC
- Litecoin
- Chainlink
- Bitcoin Cash
- Gemini Dollar
- Gods Unchained
- XRP (Not available in the U.S.)
Staking on Bitstamp
You can earn prizes on Bitstamp through its crypto-staking program- Bitstamp Earn. Cryptocurrencies available for staking are:
- Ether
- Algorand (not available in the US, Canada, Japan, Singapore, and the UK.)
- Cardano
Bitstamp Earn allows you to retain full ownership of your crypto assets. You’re not subject to any lock-up periods or conditions when you stake independently from the protocol. But, these lock-up periods and conditions may apply and vary depending on the PoS network.
Bitstamp charges a commission of 15% on all rewards received from the underlying protocol.
Trading platforms
You can trade on Bitstamp using three platforms.
- Bitstamp.net: This is Bitstamp’s main trading platform. Here, you will find a basic chart, current offers, and a purchase form. You can also set fill-or-kill orders, limit orders, stop orders, instant, and market. You can purchase directly from your Bitstamp balance. You can also use a card but this will attract an extra fee.
- Tradeview: For advanced traders, Bitstamp offers access to Tradeview. This platform has advanced trading charts and tools
- Bitstamp Mobile: You can download the app on the App Store and Google Play Store.
Trading fees
Bitstamp is very transparent about its trading fees. They’re the same as Bitstamp, Tradeview, and Bitstamp Mobile.
The platform uses a maker-taker fee model for its trading fees. This means that orders adding liquidity have different fees compared to orders removing liquidity. In simpler terms, if you create an order that helps others trade, you might pay less than if you take an existing order.
It also calculates its fees based on the market’s current price when your order is executed. This market price is placed in tiers. the current pricing tier you are in at the time of your order execution. The trading volume is also calculated across all trading pairs, is indicated as USD, and is based on the current exchange rate when trading.
Trading fees for all pairs
| 30 Days USD | Standard Maker Fee% | Standard Taker Fee % | FX Maker Fee % | FX Taker Fee % |
|---|---|---|---|---|
| < $10,000 | 0.30% | 0.40% | 0.060% | 0.080% |
| < $10,000 | 0.20% | 0.30% | 0.040% | 0.060% |
| < $100,000 | 0.10% | 0.20% | 0.020% | 0.040% |
| < $500,000 | 0.08% | 0.18% | 0.016% | 0.036% |
| < $1,500,000 | 0.06% | 0.16% | 0.012% | 0.032% |
| < $5,000,000 | 0.03% | 0.12% | 0.006% | 0.024% |
| < $20,000,000 | 0.02% | 0.10% | 0.004% | 0.020% |
| < $50,000,000 | 0.01% | 0.08% | 0.002% | 0.016% |
| < $100,000,000 | 0.00% | 0.06% | 0.000% | 0.012% |
Staking Fees
Bitstamp doesn’t charge direct fees for staking or unstaking assets but charges a commission from the total reward pool. The commission is set on per asset basis.
| Cryptocurrency | Fee% |
|---|---|
| ETH | 15.00% |
| ALGO | 15.00% |
| ADA | 25.00% |
Lending fees
Bitstamp charges a commission from the total rewards before sharing them with its customers.
| Cryptocurrency | Fee% |
|---|---|
| BTC | 27.27% |
| ETH | 23.08% |
| XRP | 20.00% |
| USDC | 20.00% |
| USDT | 20.00% |
| APE | 20.00% |
| BCH | 20.00% |
| LINK | 20.00% |
| LTC | 20.00% |
| SOL | 15.50% |
| MATIC | 19.35% |
| XML | 20.00% |
| AVAX | 15.50% |
Transaction Fees
Most deposits on Bitstamp are free but withdrawals attract a fee.
| Payment Method | Deposit | Withdrawal |
|---|---|---|
| Instant Purchase | $4 *Card may charge extra | |
| International Wire | 0.05%(min fee = 7.5 USD/EUR, 5 GBP, max fee = 300 USD/EUR, 250 GBP) | 0.1%(min fee = 25 USD/EUR/GBP. Your bank may charge additional fees.) |
| Faster Payments UK | Free | 2 GBP |
| ACH | Free | Free |
| SEPA | Free | 3 EUR |
Other Fees
Bitstamp charges non-standard processing fees as seen below.
| Service Type | EUR | USD | GBP |
|---|---|---|---|
| Transfer Return | Wire transfer return: 0.25% (min fee = 50 EUR) SEPA transfer return: 0.25% (min fee = 25 EUR) | Wire transfer return: 0.25% (min fee = 50 USD) | Wire transfer return: 0.25% (min fee = 40 GBP) FPS transfer return: 0.25% (min fee = 40 GBP) |
| Transfer Trace | 30 | 35 | 25 |
| Transfer Amendments | 30 | 35 | 25 |
| Administrative Cost | 50 | 50 | 50 |
| Transfer Recall | 30 | 35 | 25 |
| Transfer Receipt | 30 | 35 | 25 |
| Bounced Back Transfers | Charged like a regular bank deposit | Charged like a regular bank deposit | Charged like a regular bank deposit |
Supported wallets
Bitstamp provides a mobile wallet but also provides support for different wallet options, which is convenient. Some of the wallets supported include Ledger, Metamask, and Trust Wallet.
Customer service
Bitstamp’s customer support is available for any queries not answered in their FAQ page. You can contact support via:
- Emails: info@bitstamp.net, press@bitstamp.net, support@bitstamp.net, complaints@bitstamp.net
- Phone: +44 20 3868 9628, +1 800 712 5702, +352 20 88 10 96
Unfortunately, Bitstamp doesn’t support live chat support. You will only be able to access support through the methods above.
Opening a Bitstamp account
The registration process on the platform is simple. To open an account:
- Click the “Get Started” button
- Enter your details and click continue.
- Verify your email and create a strong unique password.
- Follow the prompt to connect 2FA.
You’ll need to meet the Know Your Customer/KYC requirements. Bitstamp will send a verification prompt. Yours it to fill in the form, and upload a pic of your ID. When the verification is approved, submit the required information in a KYC form, and you’re done! You can deposit your funds after the account is verified. Shouldn’t be that hard tho!
Finally
Bitstamp has been around for over ten years! The platform is very easy to use, especially for newbies. In the rise of cryptocurrency, security is a priority. Bitstamp had a breach recently. This made them work on creating even better security which is great. Obviously, there’s always room for more improvements.
FAQs
Bitstamp is available in EU, Switzerland, Norway, UK, Turkey, Greenland, South Korea, Australia, Bahrain, Bahamas, Jamaica, India, Taiwan, Kuwait, Qatar, Saudi Arabia, and several US states.
It takes up to 5 business days. Depends on the withdrawal method.
The daily limits for buying crypto with a credit or debit card are 2,500 USD/EUR/GBP and monthly 20,000 USD/EUR/GBP.
The minimum buying amount is 25 USD/EUR/GBP
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