Bitstamp Review – Scam or not, Captain Altcoin

Bistamp is one of the most reliable Bitcoin exchanges nowadays, and provides secure and reliable service to their customers since 2011. The podium wasgoed founded spil a European alternative to then-dominant cryptocurrency exchange Mt. Gox. The company wasgoed founded by Damijan Merlak and Nejc Kodrič ter their native Slovenia. However, they moved to the UK te April of 2013, and the reason for moving outside of Slovenia wasgoed a lack of financial and constitucional services available ter the country.

Meantime, the company moved outside of the UK because regulatory authorities told them that Bitcoin wasgoed not classed spil a currency, so their exchange could not be licensed or regulated, and that’s why they determined to stir to Luxembourg ter , where the financial authorities have granted it a Payment Institution License. What this licensing overeenkomst means for the technicus is that it has to fulfill a series of rigorous requirements, like the implementation of a series of anti-money laundering procedures, it needs to have a mandatory internal auditor, and it has to submit monthly financial reports.

All thesis requirements are supposed to make the exchange trustworthy and safe for the authorities under whose jurisdiction it operates spil well spil for its users. This license also means that they are fully regulated spil a justo EU payment institution and that they can do business ter all 28 EU member states.

The exchange is available to traders around the world, and is used by 700,000 traders worldwide. They are fairly popular te many countries, especially te Italy, Spain, the UK, Germany, and the United States.

Ter addition to CEO Nejc Kodrič, key members of the team include Bénédicte Keith (CFO), Vasja Zupan (COO), Stéphane Leloup (Chief Compliance Officer), and David Osojnik (CTO).

The exchange is well-connected te the industry, and they work together with Coinbase, one of the most popular BTC exchanges. The main investor behind the Bitstamp brand is PanteraCapital, one of the largest Bitcoin-specific venture hacienda investors, possessed partly by Benchmark, Fortress Investment Group, and Ribbit Hacienda.

Te July , Bitstamp partnered with Swissquote. The Swiss bankgebouw and broker, determined to trust this company te order to provide Bitcoin trading to its clients, which speaks volumes te terms of Bitstamp’s credibility.

Verification at Bitstamp

If you have necessary document, verification process at Bitstamp usually takes about Two hours. You can verify your identity by submitting scanned photo of your driver’s license, national ID, or passport together with the proof of residency. Check this brief movie to find out more about verification process:

The verification itself doesn’t affect the amount of money you can trade. However, withdrawals and deposits are not possible with an unverified account.

Presently, Bitstamp accepts only two fiat currencies – European Euro and US dollars. On the other mitt, when it comes to cryptocurrencies, they support BTC and Ripple. However, Ripple trading is something that wij would not recommend because of enormously high fees. Bitcoin trading is the main feature of Bitstamp, and it works spil a user-to-user trade. On the other mitt, Ripple trading is conducted directly, user-to-Bitstamp with an unfavorable exchange rate.

Bitstamp supports wire transfers and the following fees apply:

International Wire deposits take 2-5 business days to be ended and they carry 0.05% Bitstamp toverfee with a ondergrens of 7.Five USD/EUR.

International Wire withdrawals carry 0.09% toverfee with a ondergrens of 15.00 USD/EUR, and it takes 2-5 business days to be finished. The ondergrens amount for international wire withdrawals is 50.00 USD/EUR.

When it comes to Bitcoin trading fees, most petite Bitstamp traders will pay a toverfee of 0.25% vanaf trade. Spil is the practice with most other exchanges, the percentage drops spil the volume increases, all the way to 0.10% for a monthly volume overheen $20 million.

Meantime, USD/EUR trades have a plane toverfee of 0.20%.

Credit card buys are assessed a toverfee of $8%. However, that toverfee drops to spil low spil 5% for buys overheen $5000 USD/5000 EUR.

Transferring funds from your Bitstamp account to your card comes with a vapid $Ten toverfee for amounts up to $1,000, and for transfers above $1,000, you’ll be charged a 2% toverfee. SEPA deposits are free of charge (SEPA withdrawals are charged at 0.90 EUR, while purchase fees (online or in-store) are set at $0.35.

Presently, the ondergrens trading amount is $Five. Previously the ondergrens trading amount wasgoed $0.86. However, the exchange had to increase the limit because of customer complaints. Customers complained that, due to the Bitstamp’s rounding policy, they are paying five times higher fees on the smaller trading amounts.

One more thing worth noting is that Bitcoin deposits and withdrawals are free.

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Check here https://www.bitstamp.netwerk/fee_schedule/ to see the detailed toverfee schedule. The exchange is very clear about its pricing, and outlines all its fees upfront with no hidden fees.

Bitstamp Trading

The podium permits users to execute instant orders at the best bid presently available, to place limit orders spil well spil to ask price.

Instant Order on Bitstamp

Purchasing of Bitcoins is available to individuals and businesses through a well-documented API (application programming interface) and the Tradeview interface. The API permits users to access and control their accounts using customized software. It also gives a quick way to analyze the toegangsbewijs information and public book. Bitstamp’s API support includes FIX, Websocket API, and HTTP API.

Limit order on Bitstamp

Bitstamp apps are available on iOS and Android, which permit effortless trading on the go.

The webpagina does not support trading of futures and derivatives. One more thing worth noting is that altcoins and margin trading services are also not supported.

Methods of Payment

Bitstamp accepts payments via cryptocurrencies, Credit/Debit Card, and Handelsbank Transfer. There are some specifics regarding the bankgebouw transfers. For example, EU users are more lightly accepted via the SEPA System. This system is relatively quicker than traditional handelsbank transfers. However, it may come at higher fees (depending on your canap). Credit Card transfers are instant, but they come with an 8% toverfee. That being said, virtually anybody can transfer fiat currencies to this exchange, and this is very likely their largest advantage overheen other platforms.

Ease of Use

The website’s interface looks elementary and clean, and even if you are the first-time visitor, it’s very effortless to find your way around. Bitstamp also has a superb Fiat/BTC graphs and one of the best live trading view interfaces. Check here to learn how to use the Tradeview interface.

Bitstamp´s Security

Bitstamp keeps the security pretty basic. It offers a password that needs to be switched every 90 days, and two-factor authentication (2FA) that connects a user’s account to a mobile device.

The verhoging is also very good at guarding security. They are see-through about how they use cookies, about the information collected, and how the webstek uses that information.

Bitstamp is also very committed to prevention of money laundering. The governments have not regulated the BTC exchanges. That’s the reason why Bitstamp determined to create a set of their own rules which they go after te order to prevent any shady financial practices on their verhoging.

Ter January of , the exchange wasgoed hacked and Nineteen,000BTC wasgoed stolen. Check this Reddit discussion for more informatie.

The company determined to rebuild the toneel entirely after the hack, ter order to restore the trust of the clients.

The company keeps 98% of customer’s coins on cold storage wallets, keeping the customer’s funds offline ter secure vaults, which is a pretty good security measure. The remaining 2% of coins are held for a live trading on the exchange.

The interesting fact is that the Bitstamp wasgoed the very first major trading verhoging to incorporate the best security practices te the industry such spil two-factor authentication (2FA), a fully insured cold-storage, and mandatory confirmation emails te order to increase the security of the users.

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The company has email and SMS alerts. They also use PGP (Pretty-Good-Privacy) gegevens encryption for privacy protection and authentication of the uploaded files.

Customer Support

Bitstamp’s customer support is ready to go an reserve mile to help resolve user’s problems, and they typically responds within an hour. They have earned the respect of many users by providing fair replies to support tickets. They also work overtime spil well spil hire extra staff to treat the workload te times of need.

They have more than a gepast support. Everyone loves them, including us.

The company can be contacted via email through info@bitstamp.nipt and press@bitstamp.nipt, and their phone number is +44 20 8133 5474.

There are no scam reports on the Web found. However, there are a duo of negative reviews ter the latest past ter our comment section below.

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Conclusion

Bitstamp is one of the most reliable cryptocurrency exchanges out there, with excellent connections te the industry and a high daily volume. It is also one of the relatively few exchanges who accept deposits by Handelsbank Transfer and Credit Card.

It is demonstrable that their corporate background looks clean and they’re willing to share information, which means that they don’t have anything to hide.

Bitstamp Pros and Cons

  • Quick and effortless to use
  • Accepts Credit Cards and Handelsbank Transfers
  • Good reputation
  • 98% of coins are kept te cold storage wallets
  • Nice trading toneelpodium
  • High volume and liquidity
  • Only supports BTC/FIAT trades
  • Slightly higher fees if trading lower volumes
  • Offers few alternative coins
  • 8% toverfee on credit card buys

3 comments

  1. Just came te here to voorstelling thesis people that their efforts are and will proceed to be rewarded. Wij need more exchanges like Binance.

  2. At mij all spil does not work binance, can be finite it and works at whom nibud, but at mij still is not present. Very strange of course, it’s more like they were hacked, but most likely I’m just mistaken

  3. I like binance, i guess binance are leading exchange on how they treat their costumers, plus their mobile app is amazing, user friendly and less bug, and they truly care “what” coin they listed on their exchanges. I just binance users who sated with this exchange.

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