Bitstamp Review

Bitstamp's continued success in the crypto market

This article highlights what Bitstamp is. It also gives readers insight into the available cryptocurrencies on the platform and the Bitstamp fees. It provides a guide on how to register on the platform as well. Additionally, readers can compare the Bitstamp Investment platform with Coinbase.

What is Bitstamp?

Bitstamp is amongst the oldest crypto exchange platforms. It was founded in August 2011 by Nejc Kodrič and Damijan Merlak. It initially launched in Slovenia but then expanded to the United Kingdom and Luxembourg. It has grown to have several global offices with over 4 million customers.

It offers competitive rates with a user-friendly interface. According to Investopedia, it supports a range of 45 significant cryptocurrencies.

What are the cryptocurrencies available on Bitstamp?

These are the current cryptocurrencies that Bitstamp supports:-

• Bitcoin (BTC)
• Bitcoin Cash (BCH)
• XRP
• IOU
• Litecoin (LTC)
• Stellar Lumens (XLM)
• Algorand (ALGO)
• Ether (ETH)
• Paxos Standard (PAX)
• ChainLink (LINK)
• OMG Network (OMG)
• USD Coin (USDC)
• AAVE (AAVE)
• Basic Attention Token (BAT)
• UMA (UMA)
• DAI (DAI)
• Kyber Network (KNC)
• Maker (MKR)
• 0x (ZRX)
• Gemini Dollar (GUSD)
• Audius (AUDIO)
• Curve (CRV)
• Synthetix (SNX)
• Uniswap (UNI)
• Yearn.finance (YFI)
• Compound (COMP)
• The Graph (GRT)
• Tether USD (USDT)
• Tether EUR (EURT)
• Polygon (MATIC)
• SushiSwap (SUSHI)
• Chillz (CHZ)
• Enjin Coin (ENJ)

Bitstamp Cardano operates on the crypto exchange after the ADA altcoin recently began trading. Biltstamp also expanded its crypto portfolio to include Polkadot Bitstamp and Bitstamp ZRX.

How to register on Bitstamp

Bitstamp offers two types of accounts:-

1. Personal Account: These are for non-commercial use. All transfers are to be through the bank of the account owner
2. Corporate Account: These are for representing a business or corporation

• Fill in an application form relevant to the type of account.
• You then tick the box to affirm that you have read and agreed to the terms and conditions.
• Select register to receive your customer ID and password via email. You use these to log in to the platform.
• Afterwards, you can verify your account.

Personal Account verification

You require ID documentation and proof of residence. The proof of residence documents requires to be at most three months old.

Occasionally, Bitstamp requires you to give more information as part of the AML/CTF regulatory obligations.

Corporate Account Verification

You require the following information:-

• Company name
• Phone number
• Website URL
• Tax ID
• Company registration

Afterwards, you disclose the main purpose of your corporate account. It could be any of the following:-

• Accepting or converting payments from customers for services rendered or goods sold.
• Depositing or withdrawing funds to business bank accounts.
• Managing funds of other individuals.
• Any other business activity that you specify

Bitstamp fees

There are various types of Bitstamp fees that users are aware of. It includes the following:-

Trading Bitstamp fees

Bitstamp fees on trading depend on the trading volume over the previous 30 days. Bitstamp calculates the trading volume from all trading pairs in USD. According to forbes, all trades less than $10,000 receive a 0.50% charge. The higher the trading amount, the fewer fees it charges. 20 million USD or above receives a 0.0% charge.

Staking fees

Bitstamp only charges a commission of 15% of total rewards on its staking nodes.

SEPA Fees

Individuals within the European Union and use Euros are subject to SEPA fees. There are no deposit charges. However, for withdrawals, you are charged 3 Euros.

ACH

There are free deposits and withdrawals on ACH

Card Purchase

There is a 5% charge on all purchases

International Wire Transfer

There is a 0.05% charge on deposits. The minimum amount to pay is 7.5 USD while the maximum amount is 300 USD.

For withdrawals, there is a 0.1% charge. The minimum amount of 25 USD plus other bank charges.

Crypto deposits and withdrawals

Bitstamp does not charge fees on deposits of crypto. However, the following charges apply on withdrawals:-

• Bitcoin Cash (BCH): 0.0001 BCH
• Bitcoin (BTC): 0.0005 BTC. However, if using BitGo Instant it is 0.1%
• Ether (ETH) :0.005 ETH
• Litecoin (LTC): 0.001 LTC
• Paxos Standard (PAX): 20 PAX
• Stellar Lumens (XLM): 0.005 XLM
• XRP (XRP):0.02 XRP
• Chainlink (LINK): 1 LINK
• OMG Network (OMG): 3 OMG
• USD Coin (USDC): 20 USDC
• AAVE (AAVE): 0.07 AAVE
• Basic Attention Token (BAT): 25 BAT
• UMA (UMA): 2 UMA
• DAI (DAI): 15 DAI
• Kyber Network (KNC): 15 KNC
• Maker (MKR): 0.005 MKR
• 0x (ZRX): 12 ZRX
• Gemini Dollar (GUSD): 1 GUSD
• Algorand (ALGO): 0.1 ALGO
• Audius (AUDIO): 10 AUDIO
• Curve (CRV): 7 CRV
• Synthetix (SNX): 4 SNX
• Uniswap (UNI): 0.6 UNI
• Yearn.finance (YFI): 0.0007 YFI
• Compound (COMP): 0.1 COMP
• The Graph (GRT): 22 GRT
• Tether (USDT): 20 USDT
• Euro Tether (EURT): 2 EURT
• Polygon (MATIC): 15 MATIC
• SushiSwap (SUSHI): 1.5 SUSHI
• Chiliz (CHZ): 75 CHZ
• Enjin Coin (ENJ): 9 ENJ
• Hedera Hashgraph (HBAR): 1 HBAR
• Alpha Finance (ALPHA): 30 ALPHA
• Axie Infinity (AXS): 0.15 AXS
• FTX Token (FTT): 0.6 FTT
• The Sandbox (SAND): 6 SAND
• Storj (STORJ): 15 STORJ
• Cardano (ADA): 1 ADA
• Fetch.ai (FET): 20 FET
• Rari Governance Token (RGT): 1 RGT
• SKALE Network (SKL): 98 SKL
• Celsius Network (CEL): 1 CEL
• Smooth Love Potion (SLP): 50 SLP
• Swipe (SXP): 2 SXP
• dYdX (DYDX): 3 DYDX
• Shiba Inu (SHIB): 0 SHIB
• Gala (GALA): 40 GALA
• Perpetual Protocol (PERP): 2.5 PERP

Bitstamp vs coinbase

According to balance, the following are the main comparisons between Bitstamp Investment and coinbase:-

Ease of use

Coinbase offers a more simple-to-use platform to buy crypto for beginners whereas Bitstamp investment is more suitable for active traders with in-depth knowledge.

Security

They are both centralised exchanges with hot wallets and require you to have strong passwords to ensure your wallets are safe.

Number of Cryptocurrencies

Coinbase offers more than twice as many currencies to its users compared to Bitstamp.

Fees

Bitstamp generally offers a lower fee to its traders compared to coinbase.

Summary

From the above text, Bitstamp is the go-to crypto exchange platform for the major coins and popular altcoins.

It offers much lower fees and high security compared to other exchange platforms. It is suitable for active traders and beginners as well. You should sign up to one of the most experienced exchange platforms and profit in the trade.