Bitstamp Bitcoin Exchange Review

It’s easy to find out what reliable bitcoin exchange. If you want to get Bitstamp bitcoin exchange review in this guide to safely buy bitcoin, then keep reading!

Summary: Buying Bitcoin on Bitstamp Exchange

  1. Go to Bitstamp.
  2. Register your account.
  3. Verify your account with an ID and your phone number.
  4. Go to the “Deposit” page and choose the deposit method.
  5. Confirm the buy order is correct.
  6. Get your bitcoins.

What Is Bitstamp?

Licensed in Luxembourg, Bitstamp Ltd. is the first fully licensed BTC exchange broker in EU that offer bitcoin trade in different currencies (USD and euro).

Bitstamp bitcoin exchange review

Founded in Slovenia, the exchange grew to be one of the most stable BTC brokers that offer its services globally. The exchange is available on Windows, Linux, Mac and on mobile apps.

Is Bitstamp Exchange Safe?

Is Bitstamp safe? Being one of the first licensed bitcoin platforms, the site is safe for bitcoin trading. It offers two-factor authentication security through phone number and password, which needs to be changed every three months.

Bitstamp exchange safe

How Does Bitstamp Work?

After the account registration and verification which takes about 2 hours, you would be able to instantly purchase and sell BTC, XPR and LTC. You could also use an order book, where you can limit the price purchase or sale to the price margin you want to get.

Bitstamp Payment Ways

The payment methods that are accepted at Bitstamp cannot be viewed as numerous but they do cover the most widely used ones:

  • credit card purchase (done in both EUR and USD);
  • SEPA (EUR only);
  • coupons from other websites;
  • international wire (USD).

Choose a payment method on Bitstamp

Fees and Commission

The trading fees stand at 0.25% for a volume of less than $20,000 monthly though it would drop to 0.1% should traded volumes rise to $20 million monthly.

Additionally, deposit fees are charged for USD/EUR transactions of 0.2% while different purchase methods and withdrawal options have their own rates:

  • credit/debit cards – 2% for withdrawals; 8% to 5% depending on volume;
  • international wire – 0.05% withdrawal and 0.09% purchase;
  • SEPA transfers – free (withdrawal has a commission of 0.9 EUR).

Fees for purchasing bitcoins

Bitstamp Comparison

In this section of the tutorial, the Bitstamp will be benchmarked against two competitors: Coinbase and Kraken.

Bitstamp vs Coinbase

Both brokers are considered as being the top of their game when concerned with the safety of the accounts. The main difference lies in wallet services in which Coinbase offers wallet services while Bitstamp does not.

Bitstamp vs Coinbase
Bitstamp, on the other hand, offers order book services for clients, while Coinbase does not have such service. The Coinbase USD bank transfers are mostly used by US clients while Bitstamp offers SEPA solutions for European clients.

Bitstamp vs Kraken

Kraken exchange is considered as one of the top players in the bitcoin markets, as it accepts various currencies and has low fees compared to competitors. When compared to Bitstamp, two exchanges are very similar in terms of fees (up to 0.25% for bank transfers), payment methods and support.

Bitstamp vs Kraken

The only real difference lies in the fact that Kraken accepts a greater number of currencies, while Bitstamp offers order books while Kraken does not.

Bitstamp in Different Countries

Bitstamp could be used by clients that have a credit card and bank account. EU countries like Italy and UK can use SEPA transfers, while international wire transfer could be used globally, examples being Australia and USA. No matter if you live in London or New York, you can use your bank transfer or credit card to purchase and sell bitcoins at Bitstamp.

Bitstamp in different countries

Limits

The only limitation is the minimum purchase amount which currently stands at a value of $5. The purchase amount is unlimited.

How Fast Can I Get My Bitcoins?

You can get BTC instantly if the purchase is done with a credit card, while bank transfers would take between 2 to 5 business days.

Get your bitcoins

Additionally, the Bitstamp’s API can handle large amounts of requests for a small amount of time, giving traders ability to quickly analyze the public book and ticket information, while WebSocket provides full-duplex communications channels over a single TCP connection, speeding up the information flow.

Bitstamp Customer Support

The customer support responds within an hour on average. In the majority, the client base is sought to be satisfied, though we did find several negative reviews about Bitstamp’s Customer Support.

FAQ

Can You Buy BTC with PayPal via Bitstamp?

Currently, Bitstamp does not accept PayPal as purchase or withdrawal method.

PayPal unavailable on Bitstamp

Is Bitstamp Scam?

The exchange got a license in 2011 and since then has operated successfully as a trustworthy bitcoin broker. Although stable, the hack attempt in 2015 took away $5 million in BTC stocks, so caution is advised when leaving BTC and funds to the website storage.

Can You Sell Bitcoin on Bitstamp?

Clients can sell BTC for either regular currencies (EUR or USD) or for other cryptocurrencies (LTC and XPR trading, Ethereum not supported).

Sell bitcoin on Bitstamp

Purchase Bitcoin Without Verification

It is quite possible to purchase bitcoins without verification but be aware that deposits and withdrawals would not be possible without full verification process completed.

Can I Stay Anonym During BTC Purchase?

You can purchase BTCs without proof of residency and ID scanned with a credit card.

Buying bitcoin anonymous

Trading Litecoin on Bitstamp

You can purchase LTC with USD or EUR at Bitstamp. You can also trade your bitcoins with LTC and vice versa.

Does Bitstamp Have Bitcoin Wallet?

Currently, Bitstamp does not offer wallet support for its clients.

Bitstamp does not offer wallet

Bitstamp Debit/Credit Card

Debit and credit cards are accepted as purchase methods, while withdrawals can be done only after full verification.

Guide: How to Use Bitstamp

As a first step towards bitcoin purchase at Bitstamp, you need to register your account as with every other exchange.

Register account on Bitstamp

The exchange would send you an email with automatically generated username and password, thus keep both details somewhere safe.

Email with automatically generated username and password

You would also be advised to change password immediately as it is generated from online source. In next step, you would need to verify your account with an ID and a phone.

Verify your account

The verification process might take up to two business days, depending on the traffic within the platform. In next step, go to the “Deposit” page and choose the deposit method from provided options.

Choose the deposit method

As soon as you get your funds on the platform (time needed depends on the method chosen) you can directly purchase BTC and withdraw them to your bitcoin address.

Buy BTC on Bitstamp

XPR trading is available as well, as you can choose what trade process you wish to undertake at upper left corner of the website.

Order XRP with Bitstamp

Buying BTC with Credit or Debit Card at Bitstamp

You can connect your bank’s credit/debit card to purchase bitcoins from anywhere in the world, as long as you have USD and EUR. The fees stand at 8% to 5% depending on volume traded.

Buying BTC with credit or debit card at Bitstamp

The process is very much the same as shown in previous section, as you need to verify your ID first and deposit funds to platform in order to be able to purchase bitcoins at Bitstamp. As a deposit method, choose credit card option and provide amount that you wish to deposit through bank card. Credit card purchases are instantly processed and can be done in USD or EUR.

Bitstamp Exchange Alternatives

Apart from Bitstamp, there are other exchangers that you can use to get BTCs and we have created reviews for several of them (Coinbase, Unocoin and VirWox).

Read Coinbase Review

We have compiled a detailed report on Coinbase’s fees, purchase and withdrawal methods as well as the availability of currencies and coins.

Coinbase review

Read More in Full Coinbase Review

See Details About Unocoin

Unocoin is also a very interesting exchange that offers a wide variety of purchase methods for their clients, thus we made a review about Unocoin to save you time.

Unocoin exchange

Learn All About Unocoin Bitcoin Exchange

VirWoX Exchange Review

If you are PayPal user, then VirWox would be a good choice to make. We compiled a report on how to purchase BTC from VirWox while providing general information about the exchange.

VirWox exchange review

Complete Review VirWox Bitcoin Exchange

Should you have any question concerning Bitstamp that has not been covered by this guide, feel free to contact us at BitcoinBestBuy.

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