Bitstamp Review | Features, Pros & Cons, & Pricing

There are plenty of cryptocurrency exchanges these days that you can use to invest in digital assets. But finding the right exchange amidst dozens of options can be overwhelming.

But if you want low exchange fees and advanced trading tools, Bitstamp is one of your best options. This cryptocurrency exchange lets you invest in 60+ popular cryptos, and it supports everyday investors and professional traders alike.

However, Bitstamp doesn’t support as many cryptos as some of the larger exchanges, and it’s not the right fit for everyone. Read our Bitstamp review to learn the features, pros and cons, and pricing so you can pick the right exchange.

Pros & Cons

About Bitstamp

Bitstamp is a popular cryptocurrency exchange that began in 2011. The company originally began in the UK but moved its offices to Luxembourg in 2016. These days, it has over 4 million customers in over 100 countries, making it one of the more globally-friendly crypto exchanges.

While exchanges like Coinbase and Binance have more users, Bitstamp is still a major player in the space. And with competitive fees and robust trading tools, it’s a popular choice for high-volume traders compared to more basic exchanges.

What It Offers

Bitstamp has a range of features that support everyday crypto investors, professional traders, and even institutions. But despite the range of customers it serves, using Bitstamp is fairly straightforward, and it has several core features it offers.

Easy Crypto Trading

Bitstamp lets you invest in 60+ assets, including popular cryptocurrencies like Bitcoin and Ethereum. But it also supports asset classes like crypto gaming tokens like Decentraland and popular altcoins like Chainlink.

Some popular assets you can invest in through Bitstamp include:

• Algorand
• Axie Infinity
• Avalanche
• Cardano
• Litecoin
• Nexo
• Polygon
• Stellar Lumens
• SushiSwap
• The Sandbox
• Uniswap
• Wrapped Bitcoin

There are some notable exclusions, like Solana. But for the most part, Bitstamp supports the assets most investors are probably looking for. And the platform continues to expand support for new cryptos, which is a positive sign.

As for actually trading, you can use the simple markets tab within your account to quickly buy or sell different assets. Account funding options include:

• ACH (for U.S. customers)
• Bank transfer
• Debit and credit card
• Instant SEPA (for Eurozone customers)

Bitstamp also breaks down live best buying offers, best selling offers, and even Twitter sentiment for assets.

Advanced Trading Tools

Trading through the Markets tab is a quick way to spot trade crypto with live pricing information. Overall, it’s fairly similar to placing a trade on an exchange like Coinbase.

However, one advantage of Bitstamp is that it offers professional trading tools for free through its Tradeview platform.

This desktop trading interface has real-time pricing data and a variety of analytics tools to help professional traders make informed decisions.

For starters, you can choose different chart styles, including bars, candles, Heikin Ashi, and lines. Bitstamp also lets you add dozens of technical indicators like:

• Accumulation/distribution
• Average price
• Average true range
• Ease of movement
• Fisher transform
• Price volume trend
• Spread
• Volatility index

It’s a lot of jargon for brand-new traders. But these tools help experienced traders invest with more information. Plus, Tradeview lets you place market, limit, and stop orders so you have more control over when trades execute.

Tradeview is completely free, so choosing between the instant and simple Markets trading option or more complex Tradeview interface is a matter of preference. But if you like exchanges like Binance and FTX for their trading tools, Bitstamp is up your alley.

Bitstamp Earn

Many cryptocurrency exchanges let you deposit coins to earn passive income. This is similar to using crypto savings accounts like BlockFi or Celsius that lend out your crypto and pay you interest.

Currently, Bitstamp Earn supports two assets:

• Algorand: Earn 5% APY.
• Ethereum: Earn 4.43% APY.

This is an extremely poor selection, and it’s not available for U.S. customers either. And while Bitstamp states more assets are coming soon, you shouldn’t use Bitstamp if you’re mostly interested in passive income.

Platforms like Celsius and BlockFi support far more cryptos and pay more competitive yields. And exchanges like Coinbase let you stake several more assets to also earn up to 5% APY.

In short, earning interest on your crypto is one of Bitstamp’s weaknesses, so steer clear of this exchange if that’s your main goal.

Bitstamp Mobile App

Most cryptocurrency exchanges have a mobile app. But Bitstamp’s free app for Android and iOS is an excellent port of its desktop version.

With Bitstamp mobile, you get the same features you do through your desktop account. This includes regular Market trading but also its Tradeview interface. Some crypto trading apps ditch in-depth analytics and force you onto the web version, so this is a perk of Bitstamp’s app.

If crypto trading or checking your portfolio while on the go are important to you, Bitstamp’s mobile app is definitely worth the download.

Institutional Client Support

While this offering isn’t applicable to everyday traders, Bitstamp also provides enterprise-level access to cryptocurrency investing.

According to its website, Bitstamp offers industry-leading API connectivity. This lets it provide crypto investing support for clients like:

• Aggregators
• Banks
• Brokers
• FinTech companies
• Hedge funds
• Neo banks

The bottom line is that Bitstamp has offerings for new crypto investors, professional traders, and institutions. Overall, it’s one of the older companies in the space and services these three unique customer groups well.

Pricing & Fees

Fees are an important consideration when choosing a crypto exchange so you’re not getting dinged every time you place a trade.

Luckily, trading fees are one of Bitstamp’s strengths, particularly if you’re a high-volume trader:

For comparison, Coinbase Pro starts at a 0.60% taker fee, so Bitstamp is cheaper for beginner traders. And the more you trade, the lower your trading fees.

Other Bitstamp fees depend on your payment method:

• ACH Deposits and Withdrawals: Free.
• SEPA Deposits and Withdrawals: Free deposits, 3 Euro withdrawal fee.
• Card Purchases: 5% of total trade.
• International Wires: 0.05% for deposits and 0.1% for withdrawals.

Crypto deposits are free. However, you pay crypto withdrawal fees, and you don’t get one free monthly withdrawal. Fees vary by crypto but include amounts like 0.005 ETH and 0.0005 BTC, which is a small downside of Bitstamp.

Bitstamp Alternatives

Bitstamp is an excellent exchange if you want comprehensive trading tools and low fees. However, it doesn’t support as many cryptos as some of its competitors. Additionally, it has a very weak earning program that’s not useful if you want to generate passive income.

Here’s how Bitstamp compares to Binance and Coinbase, two other popular crypto exchanges that also offer in-depth trading tools.

Binance is a better choice than Bitstamp from a fee and staking perspective. And if you want a beginner-friendly exchange that’s comparable in fees, you can try Coinbase.

Unfortunately, Bitstamp has some catching up to do for crypto support. It also has a lackluster crypto earning program, so this needs development.

Its mobile app and Tradeview platform are excellent. If you want in-depth trading tools, compare Bitstamp to Binance and Coinbase Pro to see which interface you prefer.

Account Opening Process

Opening a Bitstamp account is similar to other exchanges, and you start by providing your name, email, and date of birth. Next, you enter your country of residence and confirm your email address.

From there, you complete know your customer requirements by verifying your identity. Bitstamp’s process is slightly more rigorous than some exchanges and you provide:

• Government ID
• Basic financial information
• Proof of residence (like a utility bill or bank statement)

Verification usually takes one to two days and Bitstamp’s team emails you if it needs additional information or encounter issues.

Overall, the process is what you’d expect from a centralized exchange. If you want to maintain your privacy, decentralized exchanges like Bisq and Uniswap are better alternatives.

Safety & Security

Bitstamp stresses its commitment to security and uptime on its website. And the good news is, there are several features and practices in place to improve security.

For starters, Bitstamp holds most assets offline in cold storage. It also uses a multisig wallet for the small amount of crypto it holds in hot storage. Users can also enable features like two-factor authentication and email withdrawal confirmation requirements to secure their account from unauthorized access.

Additionally, Bitstamp added crime insurance in 2020 through Paragon International Insurance Brokers. This covers Bitstamp’s assets from events like employee theft, fraud, or loss. Funds are also protected by BitGo’s digital asset insurance policy, which is the same insurance provider many exchanges use.

Overall, Bitstamp is a safe and secure exchange. It did suffer a $5 million hack in 2015, but with its new crime insurance policy and improved security, the exchange has improved since then.

But if you want complete control over your own security and private keys, you need to use your own crypto wallet. Many serious crypto investors use hardware wallets like Ledger or GridPlus, so consider moving your crypto if you’re not actively trading it.

Customer Service

There are several ways to contact Bitstamp customer service. The simplest is to email [email protected] to get in touch. You can also open a support ticket on its website.

Additionally, Bitstamp has three different customer service phone numbers you can call depending on the office you want to reach:

• United States: +1-800-712-5702
• UK: +44-20-3868-9628
• Luxembourg: +352-20-88-10-96

However, the company has a 2.1 star rating on Trustpilot with over 500 reviews. Many negative reviews complain about account locks, slow customer service responses, and issues with account verification.

It seems like if Bitstamp works for you, it’s a great exchange. But some users have their accounts blocked from trading and then have to deal with the hassle of contacting Bitstamp to become unblocked.

The Bottom Line

Bitstamp is one of the older crypto exchanges out there, and it does many things right. Low trading fees and its robust Tradeview interface are two examples. Plus, it has one of the best crypto trading mobile apps.

However, Bitstamp falls short in the number of cryptos it supports. And if you want to deposit crypto to earn passive income, you’re better off with companies like Celsius or BlockFi. Exchanges like Binance also have lower fees and support more cryptos if you’re outside the United States.

Overall, Bitstamp is worth trying because of its Tradeview platform and competitive fees. But don’t be afraid to try other exchanges to see which trading tools you prefer.

Bitstamp Features