Bitstamp Review 2024 |

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Bitstamp

Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.16/5

Account Minimum

$0 ($10 minimum to start investing)

Fees

0-0.3% trading fee; 15% ether and algorand staking fee

Pros

Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum to set up an account; low minimum to start trading
Check mark icon A check mark. It indicates a confirmation of your intended interaction. 80 cryptocurrencies
Check mark icon A check mark. It indicates a confirmation of your intended interaction. Lots of trading pairs; platform accepts fiat-to-crypto exchanges
Check mark icon A check mark. It indicates a confirmation of your intended interaction. Pro platform for advanced traders
Check mark icon A check mark. It indicates a confirmation of your intended interaction. 24/7 customer support

Cons

con icon Two crossed lines that form an 'X'. Staking rewards only available for ether and algorand; staking not currently available for US traders
con icon Two crossed lines that form an 'X'. Limited educational resources for beginners

Insider’s Take

Bitstamp is a decent global cryptocurrency exchange for active retail investors to trade popular assets like bitcoin, ether, and dogecoin. However, the platform's crypto selection is limited compared to competitor sites and some of the best features (like staking rewards and crypto-lending) isn't available to US residents.

Product Details

If someone refers you, you can earn a $20 cash bonus when you place a trade of $100 or more

Bottom line: Bitstamp is best for crypto traders solely interested in exchanging a set selection of assets with other Bitstamp users. The platform also offers corporate services, so it could be ideal for institutions looking to weave crypto into their platforms. However, it doesn't offer the largest crypto selection, its staking rewards are not available to US residents, and it doesn't offer asset classes outside of crypto.

About Bitstamp

Bitstamp is a global fiat-crypto exchange that offers two mobile trading apps, staking rewards, and crypto lending for individuals and institutions. The exchange accepts fiat-to-crypto transactions (meaning you can exchange currencies like USD or EUR for crypto assets).

Bitstamp is focused on providing reliable and transparent crypto trading to investors through advanced security features, 24/7 customer support, reliable order execution, and real-time market data streams. The platform values regulation and compliance so that investors are given adequate guidance and info on cryptocurrency trades.

The exchange allows trading of 80 cryptocurrencies, including bitcoin, ether, tether, solana, and dogecoin. Investors can only earn staking rewards on ether (4.50% APY paid monthly) and algorand (1.60% APY paid quarterly). Similarly, users can access crypto lending on select assets up to an 8.00% APY until December 21, 2023. However, staking and lending features aren't available to folks in the US, UK, Canada, Singapore, or Japan.

Bitstamp security measures include cold-wallet storage, crime insurance, access to a global banking network, and a withdrawal address whitelisting. Moreover, the exchange complies with fiduciary standards. This means that Bitstamp will always put the best interest of its clients before its own.

There's no minimum deposit requirement to open an account with Bitstamp, but there is a $10 minimum order size.

Is Bitstamp Right for You?

Bitstamp is best for beginner crypto traders wanting to invest in multiple different cryptocurrencies on a secure and transparent mobile platform. It's also a good option for institutions wanting to integrate crypto into their platforms.

Expert crypto traders can also benefit from the advanced version of the platform called Bitstamp Pro. The Bitstamp Pro dashboard provides additional investing tools, order types, real-time market data, charts, and analytical tools.

If you're looking to trade other assets, like stocks or ETFs, Bitstamp isn't right for you.

If you don't want to use your crypto exchange's built-in wallet to hold your investments, the best bitcoin wallets offer secure storage for your digital assets and various other additional features (including low fees, customer support, bitcoin features, and educational resources).

Bitstamp: Overall Rating

Bitstamp Pros and Cons

Is Bitstamp Trustworthy?

Bitstamp USA Inc. currently has a C rating from the Better Business Bureau. The BBB rates businesses from A+ to F, reflecting the bureau's opinion of how well it believes a company interacts with its customers.

The bureau lists two reasons for this rating. The first is the number of customer complaints filed against Bitstamp USA on the BBB site, and the second is that not all of the complaints have been resolved.

September 25, 2023, Bitstamp stopped offering staking rewards to US users after the SEC started cracking down on platforms like Kraken and Coinbase for allowing trading and staking of allegedly unregistered securities. In response, Bitstamp decided to stop its staking reward feature for US residents.

Ways to Invest with Bitstamp

Self-Directed Brokerage Account

A Bitstamp crypto account gets you access to 80 cryptocurrencies for trading. This includes popular digital currencies like bitcoin, ether, litecoin, dogecoin, and tether. Certain coins and tokens may not be available depending on your location.

Bitstamp is unique in that investors don't buy crypto assets from Bitstamp itself. Instead, Bitstamp essentially facilitates trading between you and other customers. This means that you're always either buying assets from one customer or selling your assets to another.

Another thing worth noting: Bitstamp allows you to fund these transactions with fiat currencies (e.g., USD, EUR, or GBP) or cryptocurrencies. And if you need to exchange one asset for another, the platform offers a complete list of its crypto trading pairs here.

Bitstamp also allows instant purchases of cryptocurrencies. Plus, it says you can deposit or withdraw from any location in the world, and US customers can make free instant deposits through ACH transfers.

If you're a fan of staking (staking pays you regular interest rewards for holding certain assets for a period of time), Bitstamp currently offers it for ether and algorand. But staking isn't available for folks in the US, UK, Canada, Singapore, and Japan.

Bitstamp now offers a lending feature called Earn Lend by partnering with digital asset lending company Tesseract. Tesseract can lend out your crypto assets to reputable institutions. In exchange, you can receive up to 8.00% APY on the amount lent. Unfortunately, Earn Lending is also not available for people in the US, UK, Canada, Singapore, and Japan.

As mentioned earlier, Bitstamp also provides mobile trading access for those who need to trade on the go. Its mobile app gives you access to real-time data charts, multiple order types, and secure wallet protection for your assets and any crypto transfers.

Bitstamp Pro

The Bitstamp Pro platform could be a good option for traders in need of more advanced trading tools. It offers multiple application programming interfaces (APIs) — including FIX, HTTP, and Websocket APIs — that give you efficient and stable access to the crypto market.

If you're big on security, you may appreciate that Bitstamp provides BitGo-sponsored institutional-grade storage for your assets. And you'll have access to 24/7 customer support, plus an account manager if you need to place high-volume trades.

Bitstamp Fees

Bitstamp has a $0 minimum to open an account, but there is a $10 minimum order size.

Bitstamp has a fairly transparent fee structure. It's a tiered system based on an investor's 30-day trading volume. It ranges from a 0.30% fee (for a trading volume below $10,000) to 0% (for a trading volume of more than $100 million). Generally, the more an investor trades in that 30-day window, the lower the fees.

The crypto exchange also charges lending fees and staking fees that vary by cryptocurrency. Lending fees range from 20.00% to 27.27%. Ether and algorand both have a 15.00% staking fee.

Bitstamp Frequently Asked Questions (FAQs)

Yes, Bitstamp is a legitimate global cryptocurrency trading platform for active investors. The company opened in 2020.

Bitstamp is available to USA users. However, certain features like staking rewards and lending are not currently available to residents in the US, UK, Canada, Singapore, or Japan.

A con of Bitstamp is that it does not offer staking rewards and lending features to users in the US, UK, Canada, Singapore, or Japan. Bitstamp also doesn't offer margin trading, IRAs, custodial accounts, or other investment options to choose from. Moreover, beginners seeking a large selection of educational content should look elsewhere.

If you have an open order in your Bitstamp account that is waiting to be executed, you may be unable to withdraw funds. Make sure to check your open orders before attempting to withdraw funds.

Bitstamp isn't better than Coinbase, typically since Coinbase is the overall stronger platform with more account options, a larger cryptocurrency selection, margin trading, and more. Bitstamp is better for folks who directly want to trade crypto with other Bitstamp users.

How Bitstamp Compares

Bitstamp vs. Coinbase

Coinbase is one of the top cryptocurrency exchanges for experienced investors looking for easy access to trading and storing multiple coins and tokens. It has a $2 minimum requirement. Coinbase is similar to Bitstamp in that it offers active crypto trading strategies, charting tools, staking rewards, and a Pro version of the platform.

Coinbase is the stronger platform overall as it offers multiple account options (including IRAs and custodial accounts), more than 250 cryptocurrencies for trading, margin trading, and a large selection of educational content like guides and tutorials.

Coinbase users can also earn up to 4% back in crypto on purchases with the Coinbase Visa debit card. Bitstamp, on the other hand, does not offer its users a card.

If you're more interested in trading crypto with other platform consumers, Bitstamp is the better choice.

Coinbase Review

Bitstamp vs. Kraken

Kraken is another popular crypto exchange platform offering over 200 cryptocurrencies and services for individuals and institutions.

Like Bitstamp, Kraken is best for active investors. Both platforms offer educational resources, but Kraken offers a larger catalog of content including webinars, blog posts, and its Crypto 101 video series. Kraken also offers more features than Bitstamp, such as account management, one-on-one consultations for institutions, and over-the-counter (OTC) trading.

However, Kraken does not offer staking. Bitstamp may be the better option for investors wanting to earn staking rewards (as long as you don't live in the US, UK, Canada, Singapore, or Japan).

Kraken Review

Related Terms

Cryptocurrency: Cryptocurrencies are a form of digital, decentralized currency that is bought and sold using blockchain technology. Crypto is not issued by the government or other financial institutions.
Staking: People can lend certain assets, like cryptocurrencies, to institutions in exchange for earning additional funds.
OTC: An over-the-counter market (OTC) refers to the decentralized market. OTC trading refers to buying and selling assets directly with another trader, as the asset is not currently listed on a major US exchange.

Why You Should Trust Us: How We Reviewed Bitstamp

We examined Bitstamp crypto exchange using Personal Finance Insider's rating methodology for investing platforms to compare and examine account types, pricing, investment options, and overall customer experience when reviewing investing platforms. Platforms are given a rating between 0 to 5.

Cryptocurrency exchanges typically offer multiple cryptocurrencies, trading tools, fees, and other resources. Some investing platforms are better for more advanced investors or active investors, while others may better suit beginner investors and passive investors. Bitstamp was evaluated with a focus on how it performed in each category.

Rickie Houston

Senior Wealth-Building Reporter

Rickie Houston was a senior wealth-building reporter for Business Insider, tasked with covering brokerage products, investment apps, online advisor services, cryptocurrency exchanges, and other wealth-building financial products. Before Insider, Rickie worked as a personal finance writer at SmartAsset, focusing on retirement, investing, taxes, and banking topics. He's contributed to stories published in the Boston Globe, and his work has also been featured in Yahoo News. He graduated from Boston University, where he contributed as a staff writer and sports editor for Boston University News Service.

Bitstamp Review 2024