Bitstamp Review – Reliable Cryptocurrency Platform or Scam?

Bitstamp review: This cryptocurrency exchange platform is suitable for both new and professional traders. While its attractive fees are among its strengths, its crypto offering remains insufficient. Is this a reliable cryptocurrency site? Can it be used to invest in digital currencies safely? Discover the offer in detail in this article.

Bitstamp vs eToro

As part of this Bitstamp review, we compared it with eToro, one of the best crypto platforms that we recommend for its reliability, its complete regulation and the quality of its offer.

Who is Bitstamp?

Before going into details on the offers, it seems essential to us to include in this opinion on Bitstamp all the basic information about it.

His history

Bitstamp is an exchange platform that has chosen to limit its offer to crypto-currencies:

• It was launched in 2011 in Slovenia,
• Damijan Merlak and Nejc Kodric are the initiators of the exchange,
• In 2013, it established its headquarters in the United Kingdom, more precisely in London,
• In 2016, she decided to move to Luxembourg,
• Today, its headquarters are located at 21-25, Allée Scheffer, L-2520, Luxembourg,
• From the beginning, it has been committed to aligning its actions with its desire to be a trusted platform in terms of crypto,
• More than a hundred countries have access to the services of the exchange platform,
• It has offices in Luxembourg, Slovenia, the United Kingdom, Singapore and the United States,
• Today, it has nearly 400 employees,
• It claims around 4 million users worldwide.

Its Specificities

Bitstamp relies on several assets to stand out from the competition:

• It attaches particular importance to safety. For this, it is regularly audited by the 4 largest firms in the world.
• It relies on a fully transparent financial infrastructure,
• Assets are stored offline,
• It provides additional protection through an insurance policy from BitGo. It also offers crime insurance dedicated to online wallets,
• To access its offer, users benefit from an application, an API and Tradeview,
• Its customer support remains accessible 24 hours a day, 24 days a week by email or telephone.

Products and Services available in

The services provided by Bitstamp essentially revolve around cryptocurrencies:

• The platform facilitates the exchange of fiat currencies into cryptos and vice versa. Moreover, it accepts several currencies including EUR, USD and GBP.
• It provides trading on cryptocurrencies,
• It allows the exchange between digital currencies,
• Through Bitstamp Earn, investors have the opportunity to earn passive income from their crypto assets

Its services are aimed at both individual traders and professionals.

Accepted Countries

Bitstamp's offer is accessible in many countries, especially in those where the law is favorable to the exchange of digital currencies. Its services are thus available in Europe and in particular in France.

The Bitstamp Cryptocurrency Offering

On Bitstamp, users can invest in over 45 cryptocurrencies including:

• Bitcoin,
• Ethereum,
• tether,
• Litecoin,
• Ripple,
• uniswap,
• polygon,
• algorand,
• Bitcoin Cash.

They can also trade over 118 pairs including:

• Bitcoin/EUR,
• Bitcoin/USD,
• Ripple/Bitcoin,
• Ripple/EUR,
• Ethereum/EUR,
• Ethereum/USD.

Reviews Bitstamp Payment Methods

Users of the Bitstamp platform have a choice in terms of payment methods.

Payment Methods for Deposits

The Bitstamp crypto exchange platform allows several payment methods:

• Visa, Mastercard or Maestro debit or credit card,
• SEPA transfer for traders residing in France, Belgium, Luxembourg, Germany and other countries in the euro zone,
• International bank transfer,
• cryptocurrency transactions,
• An ACH transfer for US traders,
• eCheck for traders residing in Canada.

Payment Methods for Withdrawals

To withdraw winnings in fiat currency from a Bitstamp account, it is possible to use SEPA or international bank transfer. It is also allowed to directly withdraw crypto-currencies.

Reviews Bitstamp Accounts

The Bitstamp exchange offers only one type of trading account. However, investors have the choice between a personal account or a business account:

• The personal account is reserved for the personal use of the trader,
• The corporate account is for companies that want to use it commercially.

However, it is possible to open sub-accounts:

• The platform allows up to 10 active sub-accounts,
• Their opening is free,
• The fees are the same as those applied on a main account.

One and the same user can have a company account and a personal account at the same time.

Reviews Bitstamp Deposits & Withdrawals

The deposit and withdrawal process makes it possible to form an opinion on platforms such as Bitstamp.

The deposit

To be able to trade with this exchange, it is essential to make a deposit.

The Filing Process

The deposit process varies from one payment method to another.

Purchasing by Card

To buy cryptos by card, the steps are as follows:

• Go to the page reserved for deposit operations,
• Choose the purchase by card option,
• Choose the desired cryptocurrency,
• Select currency,
• Fill in the card details,
• Confirm purchase.

Deposit by Bank Transfer

To deposit by bank transfer, here are the steps:

• Go to the page reserved for deposit operations,
• Choose the bank transfer option,
• Select the currency to deposit,
• Click on Deposit.

The Cryptocurrency Deposit

To make a deposit of digital currency in a Bitstamp account, a few steps are essential:

• Select Deposit,
• Choose the cryptocurrency to deposit,
• Use deposit address,
• Fill in all deposit information.

Deposit Limits

In general, the minimum deposit at Bitstamp is $15. However, credit card payments must not be less than 50 USD/GBP/EUR. As for the ceilings, only bank cards are concerned:

• Daily limit: 2 USD /GBP/EUR,
• Monthly cap: 20 USD/GBP/EUR.

Withdrawal

To take full advantage of the winnings, the exchange facilitates withdrawals.

The Withdrawal Process

To withdraw funds in fiat currency:

• Go to "Withdrawal",
• Choose Bank transfer,
• Select the desired currency,
• Fill in the amount,
• Choose a bank account.

To withdraw cryptocurrencies:

• Select "Withdrawal",
• Choose the cryptocurrency to withdraw,
• Fill in the withdrawal address and other essential information,
• Enter the amount to be withdrawn,
• Click on “Remove”.

Processing Times

Processing times vary depending on the payment method:

• For a SEPA transfer, payments vary from 1 to 2 working days,
• For an international transfer, payments take between 3 to 5 working days.

Withdrawal Limits

Bitstamp does not set any limits on the amount to be withdrawn. However, this must not be less than €15.

Bitstamp Wallet Review

Unlike other investment solutions like eToro, Bitstamp does not have a Wallet. Investors therefore do not have the possibility of holding cryptos on the platform. However, if they wish to transact, the exchange allows the account to be linked to another personal wallet.

Reviews Bitstamp Application & Platform

Alongside its website, Bitstamp has developed a mobile app:

• This is available for both iOS and Android,
• It facilitates real-time monitoring of the user's share price,
• Like the exchange website, it is not available in French but in English.

As for its Platform, the exchange relies on the analysis software TradeView.

Reviews Bitstamp Customer Service

Bitstamp claims to offer premium support:

• Customer support is available 24 hours a day, 24 days a week,
• To get in touch with the advisors, customers have the choice between calling or sending an email.
• For partners, an account manager is dedicated to them.

In the table below, we have collected some customer opinions about the support service.

Source: Bitstamp Trustpilot Reviews

Notice Bitstamp Regulation

Bitstamp seems to do everything in the rules to offer its services legally:

• Within the EU, Bitstamp Europe SA operates as a payment institution.
• It has obtained an authorization from the CSSF or Commission de Surveillance du Secteur Financier acting as the Luxembourg financial regulator. This commission thus regulates its activities.
• As a result, she benefits from a European passport allowing her to practice freely in other EU member countries.

Bitstamp – Avantages and Disadvantages

To complete this opinion on Bitstamp, we have listed its weaknesses and strengths in the table below.

Bitstamp Fees Notice

In this opinion on Bitstamp, it seems essential to us to analyze its fees. The platform also applies different fees. Nevertheless, they remain competitive.

Trading Fees

Bitstamp applies trading fees that decrease as the client's total trading volume increases:

• Fees start from 0,50% if the volume is less than $10. They can go up to 000% for transactions over $0,00,
• The exchange calculates trading volume based on all pairs traded for 30 days,
• The platform expresses this volume in USD,
• It defines it according to the exchange rate applicable at the time of the transaction.

The following table summarizes Bitstamp's trading fees.

Deposit and Withdrawal Fees

For most payment methods used to deposit into the account, Bitstamp does not charge a fee. The exchange does, however, charge withdrawal fees for most payment methods. The table below summarizes the deposit and withdrawal fees.

Is Bitstamp a Safe Crypto Exchange Platform?

Bitstamp seems to do everything within the rules to offer its services legally: - Within the EU, Bitstamp Europe SA operates as a payment institution. - It has obtained an authorization from the CSSF or Commission de Surveillance du Secteur Financier of Luxembourg. - It claims to use the best security practices.

How to Withdraw Money from Bitstamp?

To withdraw winnings in fiat currency from a Bitstamp account, it is possible to use SEPA or international bank transfer. It is also allowed to directly withdraw crypto-currencies.

How Does Bitstamp Work?

Bitstamp is an exchange platform dedicated to cryptocurrencies. To access its services and take advantage of its offer, it is necessary to follow a few steps: - Register on its website or via its mobile application, - Complete the essential steps for account verification, - Make a deposit of at least $15. The platform allows to buy, sell and exchange the most popular cryptos of the moment.

 Have you already used Bitstamp and want to share your experience? Leave us a comment!