Bitstamp Exchange

If you are interested in cryptocurrencies, you definitely want to find the most profitable and convenient platform. This Bitstamp exchange review will help you to figure out your future strategy. Without further ado let's just dive into it right away.




Is bitstamp a wallet or exchange


Bitstamp is a cryptocurrency exchange platform. It is considered one of the most reliable. At the same time, the fees are indeed the lowest.


The service is well suited for advanced traders. It can be difficult for a amature user to figure out how to act. In addition, not all payment options are accepted. Also, high deposit fees are charged for small money amounts.


Bitstamp exchange location is Luxembourg. The service has offices in London, Slovenia, Berkeley (California). The countries' list where the platform supports its services: USA, China, South Korea, South Africa, Brazil, Australia.


The registration is simple, you just need to fill out a form on the site.




Keep in mind however, that the account verification may last up to 3 days.


    Bitstamp currency exchange explained


    The main pair for this exchange is BTC/USD. The commission charged on each transaction is initially 0.5%. 


    With the trade volume growth, the percentage decreases. Is bitstamp a good exchange? Undoubtedly, it has some advantages. For example, the work is relevant to both short and long positions.


    The basis for the strategy choice is the analysis:


    1. Charts.
    2. Orders for buying and selling.
    3. Transaction`s history.
    4. Trades' volume.


    Strategy tips for newbies:


    1. Replenish the balance on the stock exchange choose Bitcoin.
    2. Choose the currency pairs suit you by the order's volume. Then analyze the graph. It is more convenient to look at 15- and 30-minute intervals.
    3. If the chart is constantly moving down by 5-15% per day, this currency pair is for you. If the fall is more than 25%, investor's confidence in the currency has fallen.
    4. Fill the order for the currency's purchase. We set the market rate or slightly lower.
    5. Buy currency in the yours capital 50% or less.
    6. In the sale order specify an amount greater than the purchase amount by 5%.


    Difference between trading and exchange on Bitstamp


    In the usual exchange you can get one cryptocurrency instead of another or fiat money via Bitstamp currency exchange. Trade also involves the market's study, building a strategy and profit from the cryptocurrency implementation.


    Bitstamp exchange review


    Pros and cons




    Simple interface is among the advantages. All trading pairs are reflected at the main page of the platform.


    Selecting one of them, you will see the Bitstamp exchange rate. You can also see all the buy/sell order`s history. At the bottom of the page is a schedule broken down by weeks and months. By clicking on the "Tradeview" button you will see "Japanese candles" graphical analysis.




    The advantages include a fairly fast withdrawal procedure. The process takes from 2 to 5 days. Keep in mind that Bitstamp also offers its API for the convenient use of it. This means that users can create their own software to use their accounts. 


    As the disadvantages of Bitstamp is the high commissions for replenishing an account with a credit card. The most profitable way here to top up the account is a bank transfer. Being compared with the competitors such as Coinmama, Kraken - small cryptocurrencies' selection is also one of the disadvantages.


    Is it safe?


    Bitstamp has European license. 

    In addition, Bitstamp stores 98% of its coins in cold wallets. The rest is used for trading on the exchange.

    For security reasons, they are used by:


    1. Cold storage.
    2. Two-factor authentication.
    3. Emails and SMS with confirmation.
    4. Encrypt PGP (Pretty Good Privacy) data to authenticate all uploaded files.


    An email will be sent with the client ID and password to your inbox after completing the registration form. You use the ID as your username and you must immediately change your password.


    Before you can trade on the platform, you must also confirm the account with your full name, mailing address and birth date. To authenticate this information, Bitstamp requires you to download passport data and utility bill for 3 months to prove your residence place.


    Scanning documents must be in colored images with the resolution 300 dpi or higher. After that you have to provide your ID.


    Supported cryptocurrencies


    Bitstamp allows you to trade Fiat US dollars and euros, and also cryptocurrencies such as Bitcoin, Litecoin, Ethereum and Ripple.


    Bitstamp trading fees


    Bitstamp has the commissions of 0.25% and less. It is possible to deposit euros with SEPA for free, however. There is also no transaction fee when withdrawing BTC. More about Bitstamp fees here.


    International bank deposits have 0.05 fee ($7.50 US minimum).


    International payments' cost is 0.90% (but not less than $15).


    Bitstamp security


    It's a rare situation when Bitstamp exchange is not responding. Is it even possible? Well, there have been only 2 negative cases in the entire history of Bitstamp :


    1. In February 2014, Bitstamp had to suspend withdrawals for several days due to DDOS attacks threats.
    2. In January 2015, Bitstamp decided to suspend its service about a week after it was hacked into 19000 Bitcoins.


    Bitstamp vs Coinbase exchange comparison


    What about Bitstamp vs Coinbase comparison? How to choose better exchange?


    Coinbase is a beginner-friendly platform. You can top up your account with credit cards and bank transfers.


    Pros:


    1. Wallet is available for CIS countries.
    2. Referral program allows you to make a profit by attracting new customers.
    3. Deposit insurance.


    Cons:


    1. The site is not Russified.
    2. Freeze transactions.
    3. Slow technical support.


    Bitstamp Alternatives


    Want to find better exchange than bitstamp? Let's consider additional options:


    Coinmama is an exchanger works in 216 countries. Supports only Bitcoin and Ethereum purchase. There is only an English version.


    CEX - the site is translated into 6 languages, including Russian. 15 cryptocurrencies and 4 fiat are available for trading.



    Conclusions


    The world exchange Bitstamp is most friendly to advanced and mid-level traders. It is the best choosing if you are going to work with large bets. Platform provides special privileges for the Europeans.


    1. Charts.
    2. Orders for buying and selling.
    3. Transaction`s history.
    4. Trades' volume.
    5. Strategy tips for newbies:
    6. Replenish the balance on the stock exchange choose Bitcoin.
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