What is Bitstamp?
Founded in 2011, Bitstamp is a cryptocurrency exchange that allows traders to buy or sell more than 80 cryptocurrencies with affordable trading fees. So, if they want, users can trade tokens using the trading platforms or the mobile applications that the exchange provides.
Who created Bitstamp?
According to Wikipedia, the founders of this exchange are Nejc Kodrič and Damian Merlak, with Jean-Baptiste Graftieaux as its CEO.
Where is Bitstamp located?
Bitstamp was initially launched in Slovenia. However, they have since expanded to other key financial centers, like the United States, the UK, Luxembourg, Singapore, and more. Bitstamp globally holds various regulations and licenses—around 51, in fact. This means that you will find the exchange supported in many countries, including the United States. The Bitstamp USA headquarters, for instance, is located in New York.
What Makes Bitstamp Stand Out?
What makes Bitstamp stand out from the rest is the fact that it is the oldest exchange still running, while also being the first in the world to become a nationally licensed exchange for trading BTC. That could say a lot in terms of reliability or trust, and may warrant some interest from newcomers, despite the fact that the features it offers can be a bit basic, with its cryptocurrency selection lacking the variety that can often be seen on other prominent exchanges.
How to Get Started with Bitstamp
In this section, we will cover how one can get onboard with this exchange and use the various features that come with it.
Bitstamp Account Creation
To create an account, simply go to the official website of the Bitstamp exchange and click the Register button at the upper right corner. After, just follow the steps asked of you, which should be pretty straightforward and not that different compared to what you will find on other exchanges.
Verification Process
Simply navigate to the verification page and provide the relevant documentation required of you, like bank statements, utility bills, and more.
Once you have submitted everything, you will get an email once your request has been fully processed by Bitstamp, notifying you of your results. One thing to note here is that, depending on the type of account you open, i.e., personal or corporate, the KYC process, and what will be required within it, may vary.
Funding Your Account
Primarily, there are three ways of funding your account, which include bank transfers, credit or debit cards, and your standard cryptocurrency deposits. Depending on which method you have selected, the steps you will have to follow will be considerably different.
So, if you want to go through with this method, just select the option for it and then the token and the network, which will result in the generation of a deposit address. Simply paste this address into the external platform’s withdrawal field after selecting the same token and network there to initiate the transfer.
Buying & Selling on Bitstamp
Now that you have fully gotten on board with this platform, you might want to know how you can trade here, which we will look at below.
Cryptocurrency Choices
As stated earlier, the exchange offers a little over 80 cryptocurrencies, which is by no means competitive with what you will find out there within this landscape. So, know that you will only be limited to the most popular tokens, like ETH, BTC, BNB, etc., and that you won’t find a lot of the newer tokens here, which isn’t that bad if you want to play it more safely.
Placing an Order
To place an order, just log into your account and click on Tradeview, which will take you on its trading page. Here, you will find that the Limit, Market, Stop Market, and Stop Limit order types are supported. Pick any option you want based on your trading preferences, and select a trading pair that has the token you want to buy.
Following that, just enter the price and amount and click on the relevant button below to place a buy or sell order. Depending on the order you have placed, you may have to wait a while for it to be completed.
Still, if you are a beginner at trading and don’t know much about the different trading options, then you might want to start with placing a Market order first, as that can be the easiest to grasp and the quickest to execute. So simply enter the amount of tokens you wish to buy, and the price that you will have to pay will then be adjusted automatically according to the current market price of the token.
Bitstamp Fees
As far as trading fees are concerned, fees here can be considered a bit competitive. For instance, if your 30-day volume is less than $1,000, then there will be no fees charged. However, once it exceeds that, then you will be charged a maker fee of 0.30% and a taker fee of 0.40%.
Still, you will be eligible for discounts once your trading volume exceeds $10,000, and so on and so forth. As for deposits and withdrawals, deposits will not usually incur any fees whatsoever. Withdrawals, on the other hand, will incur fees, which will vary depending on the method you have chosen and the token.
How Bitstamp Keeps User Funds Secure
Bitstamp claims that the funds held on its exchange are fully backed and can be withdrawn at any time, and also that they are stored 1:1 within custody. This implies that for every token its users hold on the exchange, that token is securely stored with a custodian that is completely licensed and qualified.
Other than that, it has also acquired two security certifications, including ISO/IEC 27001 and SOC2 Type 2, which it claims “testify to its security commitment while proving the efficacy of its security controls.”
Bitstamp Customer Support
Other than that, there is an entire help section dedicated to answering common queries that users tend to have, with regards to opening and using their Bitstamp accounts. However, the feedback that it has received, with regards to its customer service interactions, has been mixed, and as with the majority of cryptocurrency exchanges out there, support can be a bit limited, so expect to manage most of your account needs by yourself.
The Future of Bitstamp
As stated earlier, Bitstamp is the oldest cryptocurrency exchange out there that is still in business. Operating for that long in a space as volatile as this can be a testament to its robustness. Therefore, if it has held on for this long despite the extremely bearish sentiments that cryptocurrencies have faced, and are facing, chances are it will continue to do well in the future, and may even see a significant rise in tractions, due to its reputation, once the cryptocurrency market fully recovers.
Conclusion
While Bitstamp may not have as much to offer as Binance or OKX in terms of features, its reputation as the longest-running exchange precedes it and may play its own part in attracting the interest of any newcomers to the space. So, if you are looking to get onboard, then a couple of steps will be involved, as discussed above, and then you will have access to the exchange.
Bitstamp Review
Review and basic information of Bitstamp are as follows.
Crypto Exchange Basics | Bitstamp |
---|---|
Official Name | Bitstamp |
Exchange Representative (Founder) | |
Headquarters Location | |
Bitstamp Launch Date | 2011-07 |
Number of Tradable Crypto Pairs | 190 Pairs |
Weekly Visits | 286,046 Users |
Overall Rating | ⭐ / 5.0 |
Bitstamp Fee 2024
The fees charged to you for transactions at Bitstamp are as follows.
Maker/Taker Fees | Bitstamp Transaction Fees |
---|---|
Spot Maker Fee | 0.30% |
Spot Taker Fee | 0.40% |
Derivatives Maker Fee | 0.060% |
Derivatives Taker Fee | 0.080% |
Bitstamp Trading Volume
Trading Volumes of Bitstamp are as follows. (Based on CoinMarketCap 2024-04-28 14:41:12 data)
Trading Volume Items | Bitstamp Trading Volume |
---|---|
Daily Trading Volume (24h) | 106,193,023,834 KRW |
Weekly Trading Volume (7d) | 2,209,879,582,937 KRW |
Monthly Trading Volume (30d) | 3,234,716,491,695 KRW |
Daily Volume Change (24h) | -58.06% |
Weekly Volume Change (7d) | -45.53% |
Monthly Volume Change (30d) | -73.31% |
Communicate with Bitstamp
You can check exchange's messenger and SNS information in the table below.
Types | URL |
---|---|
https://twitter.com/Bitstamp | |
🎺 Messenger |
FAQs
Who founded Bitstamp exchange?
Bitstamp was founded in 2011 by .
Where is Bitstamp located?
Currently, Bitstamp's headquarters is known to be located in the .
How many cryptocurrencies are tradable on Bitstamp?
If you join Bitstamp, you can trade a total of 190 crypto pairs.
How much is Bitstamp trading fee?
Bitstamp has a spot maker fee of 0.30% and a taker fee of 0.40%. On the other hand, the maker fee for futures trading is 0.060% and the taker fee is 0.080%. Please note that these fees are for regular users, and the higher your membership level within Bitstamp, the lower the fees.
How much is Bitstamp trading volume 24h?
Bitstamp's trading volume 24h is 106,193,023,834 KRW. Furthermore, the daily trading volume is showing a -58.06% change from the previous day.
How much is Bitstamp weekly trading volume?
Bitstamp's weekly trading volume is 2,209,879,582,937 KRW, with a total of 286,046 users. Furthermore, Bitstamp's weekly trading volume is showing a change of -45.53% from the previous week.
How much is Bitstamp monthly trading volume?
The monthly trading volume of Bitstamp is 3,234,716,491,695 KRW. Furthermore, this month's trading volume is showing a change of -73.31% compared to the previous month.