Bitstamp Review | Can It Be Considered a Top Exchange?

Bitstamp provides users with two options to purchase cryptocurrencies like Bitcoin and Ethereum. The first option is through spot trading, where users can trade one cryptocurrency for another in real-time.

The second option is by buying with a debit/credit card, which provides users with the convenience of instant purchases. However, it's important to note that this convenience comes with a steep fee of 5% which is a big drawback for users who want to optimize for low fees instead of convenience.

Bitstamp's spot maker fee is 0.30% and their spot taker fee is 0.40% which is quite higher than exchanges such as OKX and Binance. On the other hand, they are competitive with exchanges like Coinbase and Gemini.

Bitstamp like most exchanges also offer a 30-day volume based schedule where the spot trading fees can be lowered depending on how much users trade.

As we can see from the table below, users would need to trade above $100,000 to get the spot fees in line with the more competitive exchanges we outlined above.

If you're looking for a reliable cryptocurrency exchange that also offers fiat deposits, Bitstamp could make sense for you.

The exchange supports three major fiat currencies in USD, EUR, and GBP. They also provide a variety of deposit methods to choose from such as ACH transfers, SEPA transfers, Faster Payments (FSP), and even credit/debit card deposits.

This gives users a lot of flexibility when it comes to funding their account in ways that suits their needs. In terms of fees, Bitstamp is generally quite reasonable. ACH, SEPA, and FSP deposits are all free of charge while wire transfers come with a minimum fee of $7.5.

Credit/debit card deposits incur a higher fee of 4-5% which is above average for the industry. Overall, Bitstamp is a solid choice for anyone looking for an exchange that offers fiat deposits.

Bitstamp offers a variety of fiat withdrawal methods for their users such as Wire Transfer, ACH, SEPA, and Faster Payments (FSP).

SEPA withdrawals incur a fee of 3 EUR, FSP withdrawals cost 2 GBP and Wire withdrawals incur a fee of $25. On the other hand, ACH withdrawals are free of charge.

When it comes to the cost of withdrawing cryptocurrencies, withdrawing Bitcoin comes with a fee of 0.0005 BTC, while the withdrawal fees for Ethereum and Solana are 0.0006 ETH and 0.01 SOL respectively. For withdrawing USDT, users are charged a very steep fee of 20 USDT.

Overall, both the fiat withdrawal and cryptocurrency withdrawal options on Bitstamp come with a higher than average cost. This is definitely something to consider when choosing which exchange to use as each additional fee eats up your profit margins.

When it comes to security, Bitstamp is an exchange that takes it seriously. One of the most important security features offered by Bitstamp is proof of reserves.

This means that the exchange holds all customer assets in 1:1 custody and separate from Bitstamp entity assets.

Additionally, 95% of crypto held at Bitstamp is securely stored offline, and their custodians hold additional insurance for client assets in cold wallets.

Bitstamp also has a 24/7 monitoring and alert program for risks and potential security breaches. All users can enable multi-factor authentication methods for login.

In terms of compliance, Bitstamp complies with AML and KYC regulations globally and has registrations in the US, UK, EU, and MENA.

The exchange was the first crypto exchange to receive a Payment Institution License in the EU and holds 50 licenses and registrations globally.

Overall, Bitstamp is a great option for anyone looking for a secure and compliant crypto exchange. With its proof of reserves, offline storage, and regulatory licenses, users can feel confident that their funds are safe and secure.

In conclusion, Bitstamp stands out as a reliable and trustworthy cryptocurrency exchange with a long-standing reputation in the industry.

With over 4 million users across the globe and support for 100 countries, Bitstamp offers a decent selection of over 80 supported cryptocurrencies.

The platform's trading interface is user-friendly, and they facilitate spot trading and limited staking services.

While Bitstamp's product offering may be limited compared to other exchanges, their simplicity make them a good option for beginners. The exchange also offer spot tradibg fees of 0.30%-0.40% which are not too shabby.

For those looking for an exchange that provides access to fiat deposits and withdrawals, Bitstamp provides a variety to choose from including wire transfers, ACH transfers, SEPA transfers, Faster Payments (FSP), and credit/debit card deposits.

Bitstamp's security features, such as proof of reserves and offline storage, make them a reliable and compliant exchange.

Overall, Bitstamp is an excellent choice for crypto traders who prioritize security, transparency, and a wide range of digital assets for trading.