Bitstamp is an established cryptocurrency exchange. It is one of the world’s longest-running cryptocurrency exchanges which supports investors and trade and financial establishments.
Despite being founded in 2011 in Luxemburg it was not until 2016 that Bitstamp was fully regulated in the EU as a payment body and accepted to be used in the 28 EU member states. As of today, it is located in London, New York City, Luxemburg, and Slovenia.
Bitstamp plays an important role in buying and trading cryptocurrency. While retaining a reasonable fee in a more powerful and active trading platform, Bitstamp enables its buyers to access and effectively execute trades using their crypto assets.
It provides extra security and a better networking connection. The Bitstamp featured app enables both Android and iOS users to safely store and receive Bitstamp transactions in their respective accounts with 24/7 customer support for the individual as well as corporate accounts.
In terms of security, the system promotes digital security with excellent privacy on data encryption functionalities which maintains users’ systems against cyber threats.
Cryptocurrency transactions are one-way, therefore, if a user account is hacked or breached, the user may not be recoverable. Likewise, when using Bitstamp or any other cryptocurrency exchange, it’s important to use strong security practices such as using a unique password and multi-factor authentication or third-party authenticator app.
Features they offer:
- Bitstamp exchange has been a fast-growing financial company with a customer base of over 4.4 million worldwide.
- Unlike any other cryptocurrency exchange service, Bitstamp has instant deposit facilities to make the process simply effortless for its users.
- Instead of purchasing crypto via external exchanges and importing it into the system, the user has the ability to instantly deposit cash even with a credit card and begin trading instantaneously, and the transaction is alerted to the user through push notifications, which as well sends updated via email, or text messages.
- Moreover, this platform secures user information via whitelisting facility by enabling the user to create a list of entrusted recipients with their transactions ensuring the assets are shared with the right recipient.
Product Features and Trading Instruments:
Over the years, the number of employees of Bitstamp has grown up to 400+ individuals globally to offer a smooth and entrusted service to its customers worldwide.
It is possible to trade over 30 listed cryptocurrencies on the Bitstamp exchange. Bitstamp trading can be done through three unique platforms, i.e., Bitstamp.net, Bitstamp Tradeview, and Bitstamp Mobile.
The importance here is that the trading fees are the same on all three platforms and the users are not compelled to pay any extra amount. Bitstamp offers a more flexible, and easily reachable module for buying and selling cryptocurrencies using credit and debit cards and international wire transfers as an authorized crypto exchange.
Buying cryptocurrencies on Bitstamp exchange is upfront, and US residents specifically could use the Automated Clearing House (ACH) payment method to deposit funds to their respective Bitstamp trading accounts.
Bitstamp technically allows its users to buy cryptocurrencies by fiat currencies.
The fiat currencies that can be traded with on Bitstamp are the US Dollar (USD) and the Euro (EUR). One can also use Swiss Francs and British Pounds on Bitstamp, but it is impossible to trade with them. They should be converted into USD or EUR before the trading process.
In addition, Bitstamp doesn’t charge deposit fees for crypto-to-crypto transactions, but a withdrawal fee is applied, and it depends on the crypto asset the user is withdrawing.
Extra Features Offered:
Bitstamp is developing into one of the world’s most trusted crypto exchanges. Bitstamp is partnered with TradingView to give its users the option to execute trades on the Bitstamp exchange directly through the TradingView interface.
Users are given the opportunity to register or log in on TradingView, connect their account with Bitstamp by entering the Bitstamp credentials, and obtain a comprehensive array of deep crypto insights in split seconds.
TradingView is a charting platform and a lively social network used by more than 30 million traders and investors worldwide to position prospects across global markets. In brief, their service consists of charts, tools, and social networking for casual traders as well as seasoned investors.
Bitstamp’s services also empower businesses and merchants to elevate their businesses through cryptocurrencies. With this feature, businesses can offer crypto trading services on their ready-made apps and accept cryptocurrencies as a means of exchange.
Bitstamp forces intuitive products and software to facilitate this offering. Some of the benefits enjoyed include:
- Payment services
- Special account managers
- High security and cybersecurity controls
- Insurance services
- Reliable order matching and execution, etc.
There are few educational tools available on Bitstamp; they include Bitstamp direct Blog and Medium pages.
The blog section, alternatively known as “Bitstamp News,” contains various information and announcements about Bitstamp team activities, updates, and instant integrations.
Subsections are neatly outlined so that the users can visit to get further insights into cryptocurrency market activities and Bitstamp products and features.
The Medium blog section offers additional information on the exchange and the market activities of cryptocurrencies and how they connect to Bitstamp.
The growing importance of bitcoin for payments and investments is dependent on an efficient transfer of bitcoin for other currencies on cryptocurrency exchanges.
While trading has become relatively common in cryptocurrencies, the liquidity of these markets is difficult to decisively determine. The lack of a consolidated feed, coupled with the excessive variety of exchanges and the authorities makes it tough to calculate high-frequency bid-ask spreads thereby weighing down the evaluation of liquidity across cryptocurrency exchanges.
Differentiating the liquidity across exchanges is important for investors, traders, and enclosing strategies that use cryptocurrencies that can be negatively affected by the costs of illiquidity.
Additionally, cryptocurrency prices are not incorporated across exchanges and the decision to trade on an exchange is binding as orders cannot easily be relocated to exchanges that are more liquid or offer better prices.
With little information about individual exchanges, traders may have to rely on transaction data such as the daily high, low, and closing prices to evaluate market quality.
Bitstamp allows USD, EUR, bitcoin, litecoin, ethereum, ripple or bitcoin cash deposits and withdrawals. Bitstamp has a reported a volume of $339 093 356 with an Estimated Real Volume of $339 093 356. It is a centralized exchange that offers 33 currencies and has a 80.15% Confidence Score based on general algorithms.
More in depth statistics could be researched via Bitstamp Statistics (vig.io) for further comprehensive references.
The crypto platform’s record is so far fairly free of any major scandals or lawsuits.
But in January 2015, hackers stole approximately $5 million worth of bitcoin from Bitstamp.
This forced the investment company to temporarily suspend its services, later repositioning with high-security measures on user privacy ensuring a reliable service to its customers.