BitStamp (bitstamp.net) - REVIEW, TRADING VOLUME AND PAIRS
Bitstamp exchange was launched in 2011. It is considered one of the oldest European cryptocurrency exchanges. The company is registered in the UK, and the main headquarters is located in Luxembourg - the same place as the main financial regulator of the EU. The company also has offices in New York and London, making it one of the most open projects in the crypto industry. Besides, Bitstamp has a license to trade digital assets in the EU and the US.
At the time of writing the review, the daily trading volume on bitstamp.net is 65 million dollars. Despite the solid age and transparent client-oriented policy of the exchange, the number of active users of the platform decreased after 2015, when there was a hacker break-in. However, this incident was a lesson for the company's management. It made them take serious security measures to make the exchange much more secure.
Features of BitStamp exchange
The obvious disadvantage of Bitstamp, according to customer reviews, is the limited choice of cryptocurrencies. Here you can buy BTC, ETH, XRP, and BCH for fiat money. But here's another pro: you can deposit fiat currency, using the usual means of payment, including credit cards.
The benefits of exchange
Among the benefits of Bitstamp we can note:
• Minimum fee when depositing fiat currencies;
• No commission charged when replenishing the balance in cryptocurrency;
• The policy of openness and the availability of offline offices;
• No successful cyberattacks since 2015;
• Reduction of the trading commission at large volumes of trades;
Disadvantages of the exchange
Among the negative sides of Bitstamp we can emphasize:
• High trading commissions in the amount of 0.25%;
• The lack of an affiliate program;
• Limited choice of cryptocurrencies to buy;
• Unresponsive support service;
• Delays in the withdrawal of fiat currencies and cryptocurrency.
About Bitstamp and Korbit
After the merger of Bitstamp with Korbit, many experts talk about expanding the prospects of both projects. The company's management informs that soon they plan to mutually integrate the traditional financial system and the crypto economy. To date, the company's activities are legal in many countries, so the association with fiat payment systems is inevitable. Unfortunately, Bitstamp is in no hurry to expand the list of traded crypto assets, and for this reason, investors are discreetly interested in the platform.
Storage and trading conditions
Should one keep money on Bitstamp's balance? In all reviews, we state that the most reliable way to store cryptocurrency is a hardware wallet. However, if it is more convenient for you to use cryptocurrency exchanges, bitstamp.net will be perfect for you. Firstly, the activity of the exchange is legalized in developed countries, which means that the interests of investors are somehow protected. Secondly, the company's management made conclusions after the 2015 hack, and today serious steps have been taken towards the security of users' funds.
Trading commission on Bitstamp is 0.25% of the transaction amount with the prospect of reducing with the growth of trading volumes. Users, whose monthly trading volume is more than $20 million, work at a preferential commission of 0.1%.
There is plenty of positive feedback about the exchange on the Internet. Security, legality, and user-friendly interface make the Bitstamp project in demand in the European and American markets. As for users from Asia, there are fewer of them here, than on other platforms focused primarily on the Asian market. However, the prospects for the project are serious, especially when you consider that the management intends to actively work on the merger of traditional finance and cryptocurrency.