Bitstamp

Brief overview of the Bitstamp exchange

As the digital coin segment develops, the number of exchanges offering interaction with such assets increases. Despite the huge number of new platforms, experienced users prefer platforms that opened in the early years of the blockchain launch. One such exchange is Bitstamp. Its pros and cons will be discussed in detail below.

Review

This platform was launched for the first time in the UK. The project has been running since 2011. In just a few years, the company’s offices were opened in major European cities. Bitstamp is licensed in Luxembourg. The platform has proven itself well in the cryptocurrency industry.

Registration and verification

The registration process for Bitstamp is not complicated. It provides an algorithm of the following actions:

  • fill out forms with personal data;
  • go to e-mail and find out an individual password;
  • enter a special key, which must be changed after logging in, and complete the registration.

The full functionality of the exchange will open after verification. Only after it will the procedures for withdrawing and depositing funds become available. The exchange requires personal information from users, for example, full name, address of residence, date of birth. Separately, it is necessary to register a phone number, confirming it via SMS. These steps help improve account security.

Bitstamp Cryptocurrency Exchange Review

A little about finance

There are several options for depositing and withdrawing money from your Bitstamp account. The most common is the use of “cold” wallets for further purchases in online stores or playing in online casinos. In addition, you can use the payment systems VISA or MasterCard. Some users prefer to deposit/withdraw funds through SEPA. Procedures are activated in the relevant sections of the site (“Deposit” or “Withdrawal”).

Trade specifics

There are several dozen cryptocurrency pairs on the Bitstamp exchange. Trading operations are carried out in the “Buy/Sell” section. The functionality is available only to verified users. For experienced traders, technical analysis tools are provided. The interface has a classic layout of information. There is a commission for conducting trading operations. It varies depending on the monthly turnover of funds (0.1-0.25%).

To improve account security, the exchange introduced two-factor authentication. Other benefits of Bitstamp include:

  • experience;
  • availability of a license;
  • clear interface;
  • high trading volume (about $200 million per day);
  • compatibility with numerous payment systems.

The list of disadvantages of the Bitstamp cryptocurrency exchange includes: mandatory verification and not the largest number of currency pairs. However, the project remains a good choice for both experienced traders and beginners. The exchange is managed by a team of experienced specialists who promptly resolve the difficulties that have arisen. A high level of protection saved the site from hacking, which increased the level of trust on the part of users.