Bitstamp Review – Is Bitstamp Scam or Legit?

Bitstamp Review

Bitstamp is a well-known cryptocurrency exchange that began operations in 2011, becoming one of the earliest sites where users could buy, sell, and trade Bitcoin. It is an excellent option for novice and occasional cryptocurrency investors who want to purchase and sell using competitive rates and an interface that is simple to understand.

Introduction To Bitstamp

Bitstamp is a cryptocurrency exchange founded in 2011 and has been operational ever since. It can accommodate traders seeking to purchase or sell any of 54 different cryptocurrencies at prices that are among the most competitive in the industry. Users have the option to trade cryptocurrencies by utilizing Bitstamp’s user-friendly internet trading interface, active trading platform, or smartphone apps.

Trading bitcoin can be risky and volatile, but Bitstamp performs an excellent job of safeguarding customer accounts and making it simple for customers to trade and invest in the cryptocurrency of their choice.

Cryptocurrencies

The number of cryptocurrencies traded in the spot market on Bitstamp is always expanding. Additionally, you can deposit and hold Euros, United States Dollars, and British Pounds. The following is a selection of the currencies that can be traded on the Bitstamp exchange.

Bitcoin

Uniswap

Bitcoin

Tether

Stellar Lumens

Litecoin

US Dollar Coin

Bitcoin Cash

Chainlink

Gemini Dollar

Trading Experience

Bitstamp is accessible to traders through three platforms: Bitstamp.net, Bitstamp Mobile, and Bitstamp Tradeview. Traders can use Bitstamp to trade cryptocurrencies. Every platform charges the same amount for trading fees.

On the basic trading interface offered by Bitstamp, you can purchase and sell using immediate stop orders and market limits. You will be charged an additional fee if you purchase using the amount on your Bitstamp account rather than a credit card. A straightforward purchase form, as well as a chart with the most recent buying or selling, are available.

Mobile App

Bitstamp offers mobile applications compatible with iOS and Android smartphones and can be downloaded from the App Store and Google Play Store, respectively. Its apps provide all the functionality you receive with the basic Bitstamp trading experience, which is web-based, for a trading experience that fits in the palm of your hand.

You can use the Bitstamp mobile app to transfer and receive cryptocurrency to store it in a Bitstamp account.

Tradeview

Tradeview is Bitstamp’s active trading platform featuring more sophisticated charting features, including a depth chart, live order book, and quick trading forms. More professional traders will likely wish to use  Tradeview. Both the basic and the Tradeview platforms provide you with access to identical order types for your use.

Fees

Trading costs at the Bitstamp exchange start at 0.50 percent for routine trades for all pairings. This pricing structure is straightforward and comparable to leading competitors’ professional platforms. The fees are not the least expensive that can be found, but they are also not much expensive.

Your fees will be reduced if you have traded more than $10,000 worth of volume in the preceding 30-day period. If a high-volume trader conducts transactions of at least $20 billion each month, they may be eligible for fees as low as 0 percent.

Bitstamp will deduct 15% of your total winnings but will not charge you further fees if you choose to stake using their platform.

Opening Account

Creating an account with Bitstamp is a simple and fast process that takes five to ten minutes to complete.

To start, you will need to enter your email address, validate it, and set a password for your account. Pick a one-of-a-kind passphrase to ensure your account’s highest level of protection. After that, you will be requested to link with MFA (multi-factor authentication) tool such as Google Authenticator. Authenticators of this type are becoming increasingly common.

You will be asked to upload a photo of your identification to comply with the KYC standards. Your profile will be placed in a queue for moderation as soon as you upload your images and provide your personal contact information, which may include your Social Security number.

Conclusion

Bitstamp performs a respectable job of making it simple to purchase and trade cryptocurrencies while maintaining acceptable cost structures. There are a larger selection of cryptocurrencies available and a more robust active trading platform.