Bitstamp vs Binance | We Have Compared All Their Features
Jack Moreau
Apr 2024
10 min read
Fact checked
Are you wondering if Bitstamp can compete against Binance? Picking the right exchange can mean the difference between saving a lot of money or paying too much in trading fees. Our comprehensive comparison of Bitstamp vs Binance explores factors such as KYC and trading fees, cryptocurrencies and security, as well as product offerings and user experience!
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Founded in Slovenia in 2011, Bitstamp is one of the oldest operating cryptocurrency exchange in the world. With over 400 employees, Bitstamp offers a secure and transparent platform to over four million customers in over 100 countries.
Bitstamp exchange
Bitstamp supports +80 cryptocurrencies including BTC, ETH, LTC, XRP, USDT, USDC, and others. The exchange has a reputation for being well-regulated and transparent, and its mature approach to the industry has earned it a loyal customer base.
Bitstamp supported cryptocurrencies
Bitstamp has over 4 million users, and its Android app has been downloaded over 500,000 times with a rating of 3.7 based on 12,000 reviews.
Bitstamp app
Binance on the other hand is a newer exchange founded in 2017 by Changpeng Zhao and based n the Cayman Islands. With over 6400 employees, Binance is one of the largest and most popular trading platforms available in 180 countries.
Binance exchange
Binance offers a comprehensive suite of services including spot trading, futures trading, staking with support for over 350 cryptocurrencies and numerous trading pairs. The services of Binance are however not available to users in the United States, Canada and the United Kingdom.
The platform also provides various products, such as Binance Smart Chain (BSC) and Binance Launchpad, a token launch platform to incubate new projects.
Binance spot trading
Binance has over 150 million users worldwide, and its Android app has been downloaded over 50 million times with a 4.4-star rating based on over 1 million reviews. The exchange offers an impressive range of cryptocurrencies, including BTC, ETH, SOL, and more.
Binance app
However, unlike Bitstamp, Binance has faced regulatory controversy in the past and some users may be concerned about its transparency and regulatory compliance.
Bitstamp vs Binance Signup & KYC
When it comes to signing up for cryptocurrency exchanges like Bitstamp and Binance, there are certain requirements that you need to meet in order to start trading. Let's take a look at the signup process and KYC requirements of both exchanges and see how they stack up against each other.
Binance requires users to verify their identity through a Know Your Customer (KYC) process and users can't trade before having completed it. Creating a Binance account takes less than a minute but in order to unlock full account privileges, users must verify their account.
Binance verification levels
Submitting all of the required documents and information for verification such as government ID takes a few minutes tops. Generally, the KYC verification process on Binance can be as short as 15 minutes but can take up to 2-3 business days in some cases to complete.
On the other hand, Bitstamp also requires all of their users to pass KYC to use their services. The signup process takes less than a minute and you have to fill in full name, email, and date of birth and country of residence.
Bitstamp signup
While the signup process is quick and easy, the verification process can take up to 5 days if all the required documents have been received. Overall, Binance seems to have a faster verification process than Bitstamp, but both exchanges require users to go through KYC in order to use their services.
Bitstamp vs Binance Products & Services
Bitstamp is an exchange that offers spot trading for over 80 cryptocurrencies, allowing users to buy and sell popular digital assets like Bitcoin, Ethereum, Cardano and others.
In addition to trading, Bitstamp also features staking and lending services for coins such as BTC, ETH, USDC, USDT and others.
Bitstamp spot trading
These services enable users to earn rewards by holding certain cryptocurrencies in their account or earn interest on their digital assets.
Bitstamp also offers professional trading tools and powerful APIs that cater to more experienced traders who require sophisticated tools to execute their trading strategies.
Cryptocurrencies on Bitstamp
The exchange offers a user-friendly platform that makes it easy to buy and sell crypto either through the exchange or via the app. Overall the website is easy to navigate as the company only offers a limited selection of crypto products.
On the other hand, Binance is the largest exchange in the world and serves a massive user base of over 150 million. It distinguishes itself by offering a comprehensive array of products in order to cater to the needs of beginners, seasoned traders, and institutional clients.
The platform's user interface is designed to ensure ease of navigation, making it user-friendly for those new to the world of cryptocurrency.
The cornerstone of Binance's offerings is its spot trading platform which facilitates the trading of over 350 cryptocurrencies like BTC, ETH, SOL, TIA, ATOM, DOT, ADA and USDT. For those that want to lever up, margin trading is also available with leverage ranging from 3-10X depending on the cryptocurrency.
Binance Spot Trading
Binance goes beyond basic trading functionalities and offers thousands of active strategies through trading bots. These bots cater to various trading styles, including spot trading, Dollar Cost Averaging, auto-invest, and rebalancing, making it an appealing choice for beginners.
Binance Trading Bots
For the more advanced traders, Binance's capabilities extend to futures trading products. This includes perpetual contracts and options with up to 125X leverage.
Binance Crypto Futures
The platform offers a wide selection of USD-Margined futures contracts, ideal for traders aiming to offset the inherent volatility of cryptocurrencies with settlements in stablecoins like USDT or BUSD.
Additionally, Binance provides access to numerous coin-margined futures contracts, allowing for direct settlements in cryptocurrencies.
Options trading on Binance is another popular product that allows traders to hedge their portfolios. It includes options for five underlying assets such as BTC, ETH, and BNB, and over 700 contracts.
Binance Options Trading
The trading experience on Binance is further enhanced by its feature-rich system which includes advanced charting tools for technical analysis and a variety of order types to assist in risk management.
A unique strength of Binance is its unparalleled liquidity across spot and futures trading with more than $60 billion in 24-hour trading volume, leading to minimal spreads and cost savings for users.
Binance Crypto Markets
Binance also ventures into the realm of digital asset earnings with its Binance Earn platform where users cansave, stake and liquidity farm. Here users can earn on assets like BTC, ETH, and USDT, with flexible or fixed durations. For those inclined towards more speculative investments, the Binance Launchpad presents early access to new tokens and projects.
Binance Earn
The platform's reach extends to the NFT market with a dedicated section for buying and selling NFTs on popular blockchains like Bitcoin, Ethereum, and BNB. It also caters to larger transactions through its OTC Trading service, designed for individual and institutional clients seeking private and market-neutral executions.
Binance OTC
Binance has also developed it's very own blockchain with the launch of the Binance Smart Chain. BNB enables developers to build DeFi applications and users to interact with non-custodial wallets. The acquisition and continuous improvement of Trust Wallet have further solidified Binance’s position in the non-custodial world by offering a versatile wallet used by millions.
Binance Web 3 Wallet
Security is a paramount concern for Binance. It addresses this through the Secure Asset Fund for Users (SAFU) and the implementation of proof of reserves, ensuring clients can confidently verify the security and availability of their assets.
When it comes to trading fees, Bitstamp and Binance offer different rates for spot and futures trading. Let's take a closer look at each of them.
Binance charges a spot maker fee of 0.1% which is slightly lower than Bitstamp's fee of 0.30%. However, if we compare the spot taker fees, Binance charges 0.10% while Bitstamp charges 0.40%.
Binance spot fees
This means that if you're looking to buy or sell cryptocurrencies frequently, Binance is the more more cost-effective option. Moving on to futures trading, Binance charges a maker fee of 0.02% and a taker fee of 0.04%. Meanwhile, Bitstamp does not offer futures trading at all. If you're looking to trade futures contracts, Binance is clearly the better option.
It's worth noting that both exchanges offer certain rebates for higher trading volumes or for holding specific tokens. For example, Binance offers lower trading fees if monthly trade volumes exceed $1 million or if users hold at least 25 BNB tokens. Bitstamp, on the other hand, offers trading fee rebates for those whose trades exceed $1,000 during a 30-day period.
When it comes to deposit options, Bitstamp and Binance offer a variety of choices for their users. Bitstamp supports fiat deposits in USD, EUR and GBP, and they can be made via Wire, ACH, SEPA, Faster Payments (FSP) or with a debit/credit card. While ACH, SEPA and FSP deposits are free of charge, instant purchases come with a 4-5% fee, and Wire Transfer incurs a minimum $7.5 fee.
Fiat deposits on Bitstamp
On the other hand, Binance supports 26 different fiat currencies, including EUR, AUD, GBP, PLN and many others. Binance offers a range of deposit methods, such as Bank transfers via Swift, Signet, SEPA and Faster Payments (FSP), Visa, Mastercard, PayID and Advacash. However, the fees for deposit methods vary.
Binance fiat deposit
For instance, fiat deposits made with Visa and Mastercard incur a 1.8% fee while bank transfer via SEPA come with a 1 EUR fee. Deposits via Advacash account, however, can be made with a 1.5% fee. Both Bitstamp and Binance offer deposit options that cater to different types of users.
Bitstamp offers more flexibility with its deposit methods and doesn't charge fees for ACH, SEPA and FSP deposits, while Binance offers a more extensive range of fiat currencies and deposit options.
When it comes to withdrawing your funds from Bitstamp or Binance, there are some similarities and differences to keep in mind. Let's start with Binance. The popular exchange offers multiple methods for withdrawing fiat currencies including SWIFT for USD, SEPA for EUR, and Faster Payments for GBP.
However, there is a 1.8% withdrawal fee for Visa and MasterCard transactions and a 1 EUR fee for SEPA withdrawals. On the plus side, many bank withdrawals are free for other fiat currencies. As for withdrawing cryptocurrency on Binance, the fees are quite reasonable. It's only 0.0002 BTC for Bitcoin, 0.000768 ETH for Ethereum and 0.008 SOL to withdraw Solana.
Now let's move on to Bitstamp. This exchange also offers fiat withdrawals via various methods such as Wire, ACH, SEPA, and FSP. While ACH and FSP withdrawals are free, SEPA withdrawals will cost you 3 EUR and Wire withdrawals will set you back $25.
When it comes to cryptocurrency withdrawals on Bitstamp, the fees are slightly higher than Binance. You'll pay 0.0005 BTC, 0.0006 ETH, and 0.01 SOL to withdraw Bitcoin, Ethereum, and Solana respectively. USDT withdrawals will cost you 20 USDT which is way too high to make any sense.
Bitstamp is one of the oldest exchange with a main focus on the European market and basic spot trading services for 80 cryptocurrencies. Binance is younger than Bitstamp but has quickly grown to become the biggest exchange in the world.
Binance offers a comprehensive suite of services and supports over 350 cryptocurrencies and numerous trading pairs. Both exchanges offer competitive trading fees but Binance wins by offering alow 0.1% maker and taker fee for spot trading.
When it comes to deposit options, Bitstamp and Binance offer a variety of choices for their users. Bitstamp supports fiat deposits in USD, EUR, and GBP while Binance supports 26 different fiat currencies. When it comes to withdrawing your funds from Bitstamp or Binance, both exchanges offer reasonable withdrawal fees and a variety of options for withdrawing fiat currencies.
Unfortunately for Bitstamp, this is not a close competition. Binance is the better exchange across pretty much every category ranging from number of cryptocurrencies, range of products and services, trading fees and even the overall user experience.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
