RESEARCH & ANALYSIS
FOR THE CRYPTO ECONOMY.

Bitstamp

Bitstamp Exchange Review

Centralized

Bitstamp Exchange Rating Analysis

  • Bitstamp is arguably the longest running fiat to bitcoin exchange in operation today - initially starting operations as early as 2011. Since then, it has managed to experience everything the wild crypto market has to offer, including a $5M dollar hack (in BTC) in early 2015, and has lived to tell the story and eventually become one of the most respected fiat-crypto on/off-ramps today, with high liquidity and high regard. Here, we will closely examine this exchange and try to understand how much we should value it in the current landscape of fiat-to-crypto exchanges. Spoiler: it's one of the good ones.

    Starting off with User Experience, the Bitstamp platform is among the simplest ones out there - in a good way. The interface is not too flashy yet inviting and easy enough to understand, and will be welcomed by both seasoned traders & technologists, who will feel at home in the exchange Pro Trader interface, and casual investors, who will let out a sigh of relief when they understand that on Bitstamp buying and selling cryptocurrencies is as simple as a few clicks - using its intuitive and simple Buy & Sell interface. Bitstamp provides a high quality customer service, although it sometimes takes longer to respond - our request remained unanswered for more than two full days, but they also offer direct support through the phone, if you call during business hours. We should also mention Bitstamp has one of the easiest verification processes we've seen - we were managed to be verified in less than 5 minutes, start to finish (bear in mind we had all the relevant documents at hand prior to starting the process). Bitstamp has proven that simple is king, if done right.

    On the performance metric, Bitstamp has also excelled - and what has given it the most credibility here is the fact that it houses very high liquidity for the modest number of assets it offers, alongside low spreads and average fees. Bitstamp is also consistently regarded as one of the highest quality markets, and was listed in Bitwise's recent "Real 10" Bitcoin liquidity benchmark, which placed it along the ten exchanges whose reported trading data is the most transparent and trusted. We at Cointelligence adopt this view, and certainly believe all ten of these exchanges report their trading data in a correct and non-misleading way - Bitstamp included.

    Where Bitstamp shows its weaknesses is the Features side - with only 5 cryptocurrencies listed on its platform, two allowed fiat currencies and one payment method (bank transfer). Virtually all points Bitstamp has gained in this category is due to its top-of-the-line API with excellent functionality and performance.

    Moving on to Team, Bitstamp has pretty much proved its team is more than capable of successfully running the business, aside from the unfortunate phishing incident of early 2015, in which a directed attack on company employees resulted in a Bitcoin theft worth $5M at the time. Nevertheless, today the team is respected and appears publicly not only to promote their exchange but also the entire crypto market, and their credibility has received yet another tailwind in the form of the acquisition made by NXMH - in which the conglomerate acquired the Bitstamp exchange & company for an undisclosed amount in October 2018.

    After a deep dive on the exchange's security mechnisms we feel comfortable giving it a very high trust score, simply because it does everything it can to empower the user (and incentivize right security practices), for example a direct option to withdraw cryptocurrencies to a hardware wallet. True, it was hacked in the past (see mentioned phishing attack above) but it has no doubt learned from the incident, and currently keeps a very high percentage of user funds in cold storage. Finally, regulatory-wise, the company is incorporated in Luxembourg and has a license to operate in 28 member states of the EU, a fact which reduces regulatory uncertainty and increases not only user trust in the exchange, but also the reliance upon continued banking cooperation - sadly, not an obvious reality with some other exchanges.

    To conclude, Bitstamp is an old giant: it has remained in continued operation for 8 years, houses high amounts of real volume to a small amount of high-cap cryptocurrencies, and focuses on the quality of current features instead of endlessly adding half-thought ones. It does little, but does it well, and manages to instill trust in its high amount of returning customers, and have also managed to win over our rating - which holds very high standards.

    Bitstamp Exchange Review, Trading Fees, Deposit and Markets

    • 24h Trading Volume

      5,396.456 BTC

      • Bitstamp Total Trading Pairs

        15

        • Bitstamp Margin Trading

          No

          • Bitstamp Deposit fees

            Free

            • Bitstamp Fiat Deposit

              Yes

              • Accepted Payment Method

                Crypto to Crypto, Crypto to FIAT

                • Bitstamp Native token

                  true

                  • Native token smart contract

                    N/A

                    • Bitstamp Trading Markets
                      • Bitstamp Stablecoins trading

                        N/A

                        Bitstamp Markets Data

                        Market Price Volume(24h) Change(24h) Last update
                        BCH/BTC Ƀ 0.03060 BCH 376.76

                        Ƀ -0.000055

                        -0.18%

                        2019-09-23 14:30:49
                        BCH/EUR € 273.24 BCH 1,191.11

                        € -4.57

                        -1.65%

                        2019-09-23 14:33:27
                        BCH/USD $ 300.24 BCH 3,536.99

                        $ -5.45

                        -1.78%

                        2019-09-23 14:34:30
                        BTC/EUR € 8,953.30 Ƀ 670.80

                        € -122.31

                        -1.35%

                        2019-09-23 14:34:42
                        BTC/USD $ 9,823.37 Ƀ 3,724.95

                        $ -168.40

                        -1.69%

                        2019-09-23 14:34:48
                        ETH/BTC Ƀ 0.02104 Ξ 6,881.73

                        Ƀ -0.000096

                        -0.45%

                        2019-09-23 14:29:02
                        ETH/EUR € 188.03 Ξ 4,982.31

                        € -3.40

                        -1.78%

                        2019-09-23 14:31:56
                        ETH/USD $ 206.30 Ξ 30,106.5

                        $ -4.37

                        -2.07%

                        2019-09-23 14:33:44
                        EUR/USD $ 1.10 € 94,354.1

                        $ -0.000080

                        -0.01%

                        2019-09-23 14:16:44
                        LTC/BTC Ƀ 0.007360 Ł 1,820.62

                        Ƀ 0.000096

                        1.32%

                        2019-09-23 14:34:25
                        LTC/EUR € 65.66 Ł 6,909.77

                        € -0.090

                        -0.14%

                        2019-09-23 14:31:32
                        LTC/USD $ 72.10 Ł 12,937.5

                        $ -0.32

                        -0.44%

                        2019-09-23 14:32:31
                        XRP/BTC Ƀ 0.00002748 XRP 1,023,957.3

                        Ƀ -4.1e-7

                        -1.47%

                        2019-09-23 14:31:23
                        XRP/EUR € 0.2463 XRP 7,428,632.7

                        € -0.0066

                        -2.61%

                        2019-09-23 14:34:41
                        XRP/USD $ 0.2695 XRP 34,548,498.9

                        $ -0.0085

                        -3.05%

                        2019-09-23 14:32:59

                        Bitstamp Withdrawals

                        • Daily Withdrawal Limit

                          /

                          • Bitstamp Withdraw fees

                            Based on Network fees

                            • Bitstamp Withdraw fees discount

                              Lower fees for higher 30 day USD trading volumes. More information can be found here

                              • Proof of Reserves

                                N/A

                                Bitstamp Overview

                                • Bitstamp is a Luxembourg-based cryptocurrency exchange or Bitcoin exchange that was founded in August 2011 by Nejc Kodrič and Damijan Merlak in Slovenia. Bitstamp’s registration was later moved to the UK (2013) and from there to Luxembourg (2016).

                                  A review of Bitstamp exchange reveals that they serve the crypto space via no less than 14 active markets and trading pairs, both crypto-to-crypto and fiat-to-crypto trading pairs. They also seem to be the first to offer a Ripple Gateway via two XRP trading pairs, namely XRP/USD and XRP/BTC. Other digital assets or cryptocurrencies they offer include Ethereum, Litecoin and Bitcoin Cash.

                                  Bitstamp seems to offer support for all major credit cards, makes use of volume-based pricing and subject themselves to a yearly audit. In terms of security, a Bitstamp review shows that they store the majority of cryptos or digital assets offline (98%). In addition, it seems that one of the leading Swiss online banks, Dukascopy, makes use of what Bitstamp has available when it comes to offering their clients bitcoin account funding. This while one of the leading institutional players, Swissquote, entrusts Bitstamp with their BTC requirements.

                                  A Bitstamp mobile app seems to be available for download via the App Store and Google Play. The app allows users with mobile devices to have the full Bitstamp trading experience available at their fingertips.

                                  In addition, a Bitstamp API is available that enables users to access and control their accounts by using custom written software. No more than 600 requests per 10 minutes are allowed.

                                  Bitstamp offers two account types, personal and corporate, that have different fee schedules. For individuals trading fees are based on the 30 day USD volume and get lower as the trading volume increases. Deposit and withdrawal fees depend on the payment method used. However, depositing or withdrawing cryptocurrencies is mostly free of charge. The minimum trading amount of an order is 5 euro for euro trading pairs, 5 dollar for dollar trading pairs and 0.001 BTC for bitcoin trading pairs. Bitstamp offers various payment methods, including credit card and cashout on a bank account. 

                                  An important feature of Bitstamp is safety for the customer and its funds. It uses security offline cold wallets to store most of the assets and uses a hot wallet to provide constant liquidity that is secured through Multi-Sig technology. Although it has various security measure in place, Bitstamp has risks warning for its clients all over its website. For customer safety and support, it has a 24/7 support system in place. 

                                  The website of Bitstamp provides much information about the company and its security measure, which makes it seem quite transparent. The trading platform offers real-time data that is accessible without scrolling.

                                  Bitstamp Exchange Additional Information