Check out Bitstamp reviews. Which exchange to choose, account deposit, commissions, fees, and digital wallet. Required verification and registration.
After bitcoin’s recent temporary declines, some investors are looking to invest their money in Bitcoin and are wondering where to buy the cryptocurrency. One of the exchanges with a long-standing and well-established presence in the market is Bitstamp.
Exchange Bitstamp – general information
Bitstamp was established in 2011 in Luxembourg as a licensed Bitcoin exchange. It is called the world’s oldest exchange for this cryptocurrency. This gives many users trading here a sense of security. In 2018, Bitstamp was acquired by a Belgian investment company NXMH. The exchange also enables trading in several popular cryptocurrencies, including Ethereum and Litecoin. Bitstamp offers professional and stable trading, and the range of services offered is transparent. The exchange is developing security features in case of hacking attacks.
Furthermore, the website has ongoing partnerships with respected financial institutions for cryptocurrency storage services. Bitstamp is not a mass exchange or a place that focuses on quantity. The platform is all about quality, predictability, and reliability with customers. It is a reliable cryptocurrency trading intermediary that is constantly gaining new customers.
Browser-based and mobile wallet on Bitstamp
Bitstamp offers a special API to its customers, giving them the opportunity to use custom software. The trading platform is fast, intuitive, and functional thanks to which buying and selling cryptocurrencies is carried out with great success. Trading can also be done using the platform’s mobile application.
Fees and commissions on the Exchange Bitstamp
Using the website and its wallet is completely free. However, some costs, as with other such services, are inevitable. Transaction costs depend on the choice of currency, which will be the primary currency throughout trading. The best decision is to select EUR. In that case, deposits will be free each time and only 3 euros will be deducted on withdrawals. The amount of transaction fees depends on the turnover. The type of account is also important.
Professional users will enjoy lower commissions. Due to ESMA criteria they are entitled to more appealing trading conditions. The highest possible commission you can pay for a single transaction is 0.5%. This is a figure that applies to both the issuer of the trade and the party that processes it. The fees are therefore relatively low and attract new traders to the platform.
Registration, verification, and logging-in processes on Bitstamp
Bitstamp is subject to KYC verification. This means that new users have to go through a process that makes it indisputable that they are not hackers and that their trading will not generate money laundering. To be able to create an account on the website, it will be necessary to send a photocopy or scan of your identity card. Registration is followed by authentication, which in order to increase the level of protection, is a two-step process.
What opinions does the Exchange stock Bitstamp market have? What do they write on the forum?
What do online forums say about Bitstamp? The cryptocurrency exchange receives a lot of positive feedback. First of all, the most important thing is often emphasized – honesty. Customers do not complain about the speed of withdrawals or problems with recovering their money. Also noteworthy is the many years of experience, which has allowed for the greatest possible adaptation to the expectations of customers. The speed and simplicity of transactions are worth mentioning. The level of security, which is very high thanks to many solutions that have been improved over the years, is also appreciated by users. The processing of transactions is very simple and understandable for everyone, thanks to the clarity of the interface and a well-designed platform.
Users of the cryptocurrency exchange also appreciate the professional, courteous, and knowledgeable customer service. Answers to complicated questions, related to tax settlements for example, are provided quickly and clearly. The same is true when it comes to clarifying issues related to money transfers.
Payment and withdrawal to the account – Exchange stock Bitstamp
An amount as little as 5 euros is needed to start actual trading. Bitstamp is a good place for both professional traders and those who are just starting to trade cryptocurrencies and want to practice trading while risking small amounts. Depositing funds can be done in several currencies. USD, EUR, GBP are the traditional currencies in which payments can be made. Apart from that, deposits and withdrawals are also possible using several cryptocurrencies. Withdrawing funds to your account costs 3 euros. Withdrawing directly to a credit or debit card involves a cost of 5% of the transaction value.
Bitstamp is therefore a very profitable exchange from an investor’s perspective. Due to the high fluctuation in the value of bitcoin, you can expect to make big profits here in a short period of time. Declines and increases in the value of Bitcoin sometimes reach 10% in a single day. Trading on Bitstamp is sure to appeal to new traders and bring satisfaction from trading cryptocurrencies.