Bitstamp Review 2020
Bitstamp is a Europe-based cryptocurrency exchange that allows traders from all around the world to buy and sell cryptocurrencies online. They provide traders with the intuitive Bitstamp trading platform for the online trading of multiple cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, and Stellar. Clients get access to a range of trading tools and educational resources. However, the broker is not regulated and only offers crypto trading.
Bitstamp Review 2020, Pros & Cons
- Intuitive trading platforms
- A range of trading tools
- Various funding options
- Not regulated
- No MetaTrader platforms
- Cryptocurrency trading only
- No online chat support
In this detailed Bitstamp review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Bitstamp is not ranked in our best forex brokers, best stockbrokers, best CFD brokers, best crypto brokers, or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Bitstamp.
Bitstamp Review: Summary
Operating from the United Kingdom since 2011, Bitstamp is a cryptocurrency exchange that enables millions of traders from around the world to buy and sell a wide range of multiple cryptocurrencies using the Bitstamp trading platform. They provide clients with a good selection of useful trading tools, educational resources, and a dedicated customer support team. There are also multiple account options available to traders.
Bitstamp Review: Regulation
Bitstamp states that 98% of its assets are stored safely offline and have highly encrypted personal data. However, there is no regulatory information on the Exchange’s website at the moment. Most experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can. Please see our best trading brokers for alternative regulated brokers.
Bitstamp Review: Countries
Clients from different parts of the world are allowed to open a trading account with the Exchange if their countries of residence permit online trading with international cryptocurrency exchanges.
Apart from the 28 EU member states, Bitstamp also supports around 50 different countries outside of the EU. The main countries include Australia, Brazil, China, South Africa, South Korea and the USA.
Some Bitstamp features and products mentioned within this Bitstamp review may not be available to traders from certain countries because of legal restrictions.
If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa, best brokers Canada or our best brokers for all other countries.
Bitstamp Review: Trading Platforms
The Exchange provides clients with the intuitive Bitstamp trading platform for online trading of multiple cryptocurrencies. The platform has a user-friendly trading interface, which makes it suitable for crypto-traders of all experience levels. The Bitstamp mobile app offers the full functionality of the Bitstamp trading platform on mobile devices running on Android and iOS. It offers four order types, real-time charts & order book, and a range of analytical tools. Traders are allowed to choose between the simple buy and sell or the advanced Tradeview interface.
Bitstamp Review: Trading Tools
The Exchange provides traders with a good range of sophisticated trading tools, such as the HTTP API, which allows clients to access and control their accounts using custom-written software; Public FIX Interface; WebSocket; Lightning Network that allows bitcoins to handle millions of transactions per second with almost zero fees; and the TradingView.
Bitstamp Review: Education
The Bitstamp website has a limited supply of educational resources. However, there is a News section that gives traders updates on the latest happenings in the financial markets. There is also an FAQ section offering instant answers to clients’ most common inquiries.
Bitstamp Review: Trading Instruments
The Exchange offers multiple cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, and Stellar, for trading online.
Bitstamp Review: Trading Accounts & Fees
The exchange offers the following account options:
- Personal Account
- Corporate Accounts
As broker fees can vary and change, there may be additional fees that are not listed in this Bitstamp review. It is imperative to ensure that you check and understand all of the latest information before you open a Bitstamp broker account for online trading.
Bitstamp Review: Customer Service
Bitstamp offers dedicated 24/7 customer support to all customers worldwide via telephone, email, and selected social media handles — Twitter, LinkedIn, and Facebook.
Bitstamp Review: Deposit & Withdrawal
Clients can deposit and withdraw funds from their trading through any of the following payment methods:
- International wire transfer
- Debit/Credit Card
- ACH Transfer
Bitstamp Review: Account Opening
New traders who wish to open a trading account with the exchange can do so by clicking on the ‘Register’ button, choosing the desired account type — Personal or Corporate account — and completing the form.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree to them.
Bitstamp Review: Conclusion
Bitstamp is a crypto exchange that provides premium access to cryptocurrency trading to both individuals and institutional clients via its proprietary trading platform. They offer a volume-based fee structure, useful trading tools, 24/7 premium support, and industry-leading security practices. However, Bitstamp is unregulated which may be a red flag for some potential clients. You may wish to view our best crypto brokers for regulated alternatives.
The trading of virtual currencies involves significant risk. Price fluctuations can occur which may increase or decrease the value of your assets at any given moment. Any currency whether virtual or not may be subject to large swings in value and may even become worthless. You should not risk an amount you cannot afford to lose.