A Complete Walkthrough: Getting Started with Bitstamp

Bitstamp Opening its virtual doors in 2011, Bitstamp has grown its reputation as a trustworthy and long-standing player in the cryptocurrency exchange landscape. From small beginnings in Europe, it's acknowledged globally by traders for its reliability and integrity.

Bitstamp, operating with multiple office locations, extends its reach to a broad clientele worldwide. cryptocurrency trading Offering solutions that span across the international scene, Bitstamp caters to a diverse global audience.

Overview

Fueled by the vision of founders Damijan Merlak and Nejc Kodrič, Bitstamp embarked on its journey in 2011. Their goal was to cater specifically to European customers while challenging a market largely led by other giants. Mt. Gox at the time.

Starting out in Slovenia, Bitstamp expanded its horizon by setting up in the UK in 2013 and Luxembourg in 2016. Now, besides its Luxembourg headquarters, you can also find Bitstamp offices in strategic cities like London and New York.

Bitstamp has become popular with both intermediate Many seasoned traders looking to swap established digital currencies with fiat money have turned to Bitstamp for its sophisticated yet simple trading experience.

Striving to maintain its promise of low costs, Bitstamp is among the top exchanges by trading volume, providing users with an efficient way to trade substantial amounts of cryptocurrencies.

Handling daily transactions exceeding $700 million, Bitstamp excels in trading the BTC/EUR and ETH/EUR pairs. Nevertheless, USD transactions for the primary cryptocurrencies dominate over 60% of its trading activity.

Bitstamp Features

• Navigability – Sporting an easy-to-use interface, Bitstamp serves users with essential price data, transaction tools, and updates on charts and balances. A mobile app supports both iOS and Android, enhancing accessibility.
• Fee Structure – Bitstamp’s competitive fee structure features lower than average rates. Depositing internationally accrues a 0.05% fee with tactical pricing on withdrawals and trading fees scaling from 0.25% to as low as 0.10% for higher volumes.
• Safeguards – With its unwavering commitment to regulation compliance and consumer protection, Bitstamp diligently stores digital assets in cold storage and utilizes AWS for online holdings. USD accounts enjoy FDIC insurance, and funds are managed through a bank chartered in New York.
• Customer Support – There is an FAQ The exchange provides a comprehensive Q&A section to address common queries and offers guidance on buying and selling Bitcoin. Email support aims to tackle user questions promptly, typically within a few hours. Furthermore, direct office contact is available for urgent issues.
• Global Reach – Broadening its service beyond the EU and the US, Bitstamp is functional in over 60 countries including Australia, Brazil, China, Hong Kong, India, Japan, New Zealand, Singapore, and South Korea.

Supported Currencies

Bitstamp remains focused on delivering access to prominent cryptos, operating markets centered on the major base currencies. Bitcoin (BTC) , Bitcoin Cash (BCH) , Ethereum (ETH ), Litecoin (LTC) , and Ripple (XRP) The platform currently trades 12 market pairs linked to essential currencies - Euro (EUR), US Dollar (USD), and Bitcoin (BTC).

Acknowledged for its liquidity, Bitstamp processes over $700 million in crypto trades daily, with substantial volumes in both Euro and USD pairings.

Bitstamp Signup & Login

Visit their official site Begin by creating an account. Simply submit your name, email, country, and password. These quick steps will have you set up in no time.

A simple registration on the homepage leads you to enter your name, email, country, and agree to terms. A swift click on 'register' gets you started.

After registering, an email confirmation arrives, equipping you with a client ID and password. You're prompted to customize your password on your first login.

With new logins set, head over to your account page where you can modify your default password and set up 2FA for added security.

To utilize features like bank transfers, verifying your account is essential. Both personal and corporate accounts need these verifications:

Verify your account

Submit a legitimate form of ID such as a passport or driver’s license.

• Provide proof of residency, including a bank statement or government-issued documentation.
• Finalizing verification involves an OTP phone number confirmation. Successful completion unlocks all account features and lets you proceed with transactions.

Initial trading requires funding your account, possible via bank transfer, cryptocurrency, or credit card. Navigate to the Deposit section to proceed.

Make a Deposit

Depositing funds could take 1-3 business days, though some users report quicker times. Once funds reflect, place orders by selecting your trading pair and executing a buy order.

Trading on Bitstamp

Post-purchase, your account gets instantly credited. You have the choice to trade further or move your assets to an external wallet.

Bitstamp offers varied purchase methods, supporting several payment options:

Supported Payment Methods

Supported cryptocurrencies include BTC, ETH, LTC, XRP, and BCH for exchanges.

• Credit/Debit Card.
• International Wire Transfer.
• SEPA.
• Despite history with security breaches in 2014 and 2015, where 19,000 Bitcoins were lost, Bitstamp is now a beacon of best security practices in the crypto space.

Is Bitstamp Safe?

In response, Bitstamp fortified its security, ensuring a robust system for customers. About 98% of assets are insulated against threats in cold storage and supported by insurance. Features like 2FA, confirmation emails, and data encryption further fortify user accounts.

Bitstamp's transaction fees remain consistent since its 2011 launch, presenting traders with a transparent system that rewards high-volume activity. wallet options Featuring a tiered fee schedule, traders enjoy reduced costs as they trade more, starting from a 0.5% fee scaling down to 0%. Exchange rates for non-USD pairs are updated with each trade.

Bitstamp Fees

Trading Fees

A Look into Bitstamp in 2019: Is it a Trustworthy Platform?

All Trading Pairs (Cumulative)

• < $10K: 0.5%
• < $20K: 0.25%
• < $100K: 0.24%
• < $200K: 0.22%
• < $400K: 0.20%
• < $600K: 0.15%
• < $1M: 0.14%
• < $2M: 0.13%
• < $4M: 0.12%
• < $20M 0.11%
• < $50M: 0.1%
• < $100M: 0.07%
• < $500M: 0.05%
• < $2B: 0.03%
The Bitstamp Mobile App
The Bitstamp Mobile App
How does the Lightning Network work?

Planning to trade on Bitstamp's Cryptocurrency Exchange? Make sure to read our Comprehensive Guide for Beginners to get the essentials.

How does the Lightning Network work?

Complete Overview for Beginners: Exploring Bitstamp

• Conclusion
  Conclusion
  Mt. Gox
  at the time.
  Bitstamp has become popular

with both intermediate

• Bitstamp stands among the early-established and esteemed cryptocurrency platforms, having launched back in 2011. It has successfully expanded its reach beyond its initial European base to captivate crypto enthusiasts worldwide.
• With offices in various cities, Bitstamp facilitates
• services to users far and wide.

How to Connect with Bitstamp's Lightning Node

Bitstamp Features

Customer Support – There is an	FAQ	Supported Currencies
Bitcoin (BTC)	Bitcoin Cash (BCH)	Ethereum (ETH
Litecoin (LTC)	, and	Ripple (XRP)
Bitstamp Signup & Login	Visit their	official site
Verify your account	Make a Deposit	Trading on Bitstamp
Trading View	Supported Payment Methods	Credit/Debit Card.
International Wire Transfer.	SEPA.	Is Bitstamp Safe?
wallet options	Bitstamp Fees	Trading Fees

All Trading Pairs (Cumulative)

Back in 2011, Damijan Merlak and Nejc Kodrič envisioned Bitstamp as a service tailored for Europeans, stepping in as an alternative within a market back then monopolized by others.

Started in Slovenia, Bitstamp spread its wings by setting up a UK branch in 2013, followed by an office in Luxembourg in 2016. Besides Luxembourg, the exchange also established roots in London and New York.

catering to seasoned traders interested in leveraging fiat currencies to invest in prime cryptocurrencies.

The platform strives to provide users with an affordable avenue for trading large volumes of digital currencies, securing a spot among the top ten in terms of trade volumes.

• < $10K: 0.5%

Handling transactions worth over $700 million daily, Bitstamp shines in BTC/EUR and ETH/EUR trading pairs but sees over 60% of its activities dominated by USD transactions of the leading three cryptocurrencies.

Platform Design – Bitstamp offers a user-friendly and thoughtfully designed interface. It's loaded with crucial pricing and ordering data, complemented with real-time charts and balance details. Additionally, Bitstamp also offers a mobile app accessible to both iOS and Android users.

• < $20K: 0.25%

Competitive Fees – Compared to many exchanges, Bitstamp boasts of lower fees. International wire deposits come with a 0.05% charge with a minimum of 7.50 USD/EUR. Wire withdrawals are at 0.09%, with a minimum threshold of 50 USD/EUR. Trading fees start at 0.25% for monthly trades under $20,000 and reduce to 0.10% for $20 million monthly volumes. • < $100K: 0.24% Robust Security – Managed by a proficient team, the platform fully aligns with digital asset regulations and consumer protection laws. It stores all digital assets offline for safety, while online assets are safeguarded by Amazon Web Services. Furthermore, US Dollar Accounts enjoy FDIC insurance, with funds held in a New York-chartered bank.

section offering solutions to common queries alongside guiding users on Bitcoin transactions. Direct inquiries are responded to via email within hours by the support team. Users can also ring up the nearest office for urgent matters.

Global Presence – Bitstamp extends its availability beyond the EU and the US to over 60 countries, including Australia, Brazil, China, Hong Kong, India, Japan, New Zealand, Singapore, and South Korea.

Bitstamp primarily focuses on providing markets for the most reputable cryptocurrencies, facilitating

a total of 12 trading pairs connected with three base currencies: Euro (EUR), US Dollar (USD), and Bitcoin (BTC).

• < $200K: 0.22%

• < $400K: 0.20% • < $600K: 0.15% As a longstanding exchange, Bitstamp benefits from high liquidity, managing daily trades surpassing $700 million. Euro pairings account for above €100 million, whereas US Dollar pairings exceed $400 million daily.
To join Bitstamp, initiate by completing the signup process. Simply fill in your name, email, residence country, and a password. These steps enable a swift account creation.

Clicking 'register' on the homepage will lead you to enter your name, email address, and country of residence, followed by agreeing to terms and pressing 'register'.

A confirmation email will follow, containing your unique client ID and password. This initial password is auto-generated and you'll be prompted to replace it upon your first login.

• < $1M: 0.14%

Having updated your credentials, log in to Bitstamp and proceed to the password adjustment page.

• < $2M: 0.13%

• At this stage, you may opt for setting up 2-factor authentication; once done, more features of your Bitstamp account become accessible.
• • < $4M: 0.12%
• To utilize specific functions like bank transfers, account verification is necessary. Both personal and corporate accounts require:
• A valid Citizenship or National ID. Alternatively, passports and driver's licenses are acceptable.
• Proof of residence, such as a bank statement, utility bill, or any government-issued documents.
• • < $20M 0.11%
• • < $50M: 0.1%

The subsequent verification phase involves phone number confirmation through an OTP sent to your device. After thorough verification, your access extends to deposits, purchases, trades, and withdrawals via various methods.

Before engaging in trade or purchase, it's crucial to fund your account. Navigate to the Deposit tab, opting between a bank transfer, cryptocurrency transaction, or credit card to move funds.

1. Deposits typically process in 1-3 business days, though users occasionally report quicker transfers. Once active, proceed by selecting the BUY/SELL button, choosing a trading pair, and placing a market or limit order, specifying the price and quantity to finalize the buy.
   1. • < $100M: 0.07% • < $500M: 0.05%
   2. • < $2B: 0.03% The Bitstamp Mobile App The Bitstamp Mobile App
2. Post-purchase, your account will reflect the cryptocurrency acquisition. You can then either trade your crypto on the exchange or transfer it to a private wallet.
3. Bitstamp presents multiple purchase options, supporting various payment methods like:
4. Cryptocurrency Transacting (BTC, ETH, LTC, XRP, BCH).
5. A leader in exchange security procedures, Bitstamp was once breached and paused trading back in 2014 and 2015 due to hacks. The latter, involving a theft of 19,000 Bitcoin, was notably severe.
6. To counter such events, their team revamped security practices, ensuring all customer holdings are safeguarded.
7. Around 98% of funds are preserved offline in cold storage, shielded against cyber threats. These assets have insurance coverage, complemented by Two-Factor Authentication (2FA), mandatory email confirmations, SMS alerts, and PGP data encryption for enhanced privacy. Since the 2015 incident, Bitstamp has upheld an incident-free status and is regarded as highly secure today.
8. Since its launch in 2011, Bitstamp's fee structure has remained relatively stable. As of August 20, 2019, the unified fee model is highlighted below.

Fees are determined by the user's trading volume over the past 30 days, rewarding high-volume traders, both personal and institutional, with reduced or zero fees. All new users face a basic 0.5% fee, diminishing to 0% upon reaching the max monthly trading volume. Note, non-USD trades are converted to USD at current rates per trade. How does the Lightning Network work? .

Accessing Bitstamp’s Network: Exploring the Lightning Node Connection

Minimum order sizes are set at 25 EUR/USD or 0.001 BTC (for BTC-related trades).

Crypto deposits are free; however, withdrawals incur charges as follows:

How does the Lightning Network work?

INTERNATIONAL WIRE – Deposit incurs a 0.05% fee (minimum 7.5 USD/EUR, max 300 USD/EUR); withdrawals at 0.1%, minimum 25.00 USD/EUR plus possible bank fees.

SEPA – Deposits free of charge, withdrawals cost a flat fee of 3 EUR.

CREDIT CARD PURCHASE – 5% fee applies universally (additional fees possible from card issuers).

Charges apply for non-standard financial processes:

Bitstamp boasts a stellar reputation with numerous accolades and partnerships. Not only was it Ripple's initial Gateway, but also a partner in their incentive endeavor. Collaborations with CACEIS (Crédit Agricole SA) and Swissquote further bolster its esteemed status in finance.

Pioneering the move towards regulated digital currency trading, this exchange became the first in Europe to secure a full cryptocurrency license, under the vigilant oversight of Luxembourg’s CSSF. This pivotal status ensures that detailed reports are regularly calendared for submission, underlining their unwavering compliance in financial protocol adherence. Conclusion Aiming to set a gold standard in user satisfaction, the exchange garners largely positive feedback. Though, navigating the waves of user queries can extend from one to three days—an area mostly tethered to the performance of their customer support in handling emails and tickets.

The influx of new account registrations has slowed down the verification timeline, yet Bitstamp continues to deliver a steadfast platform, tailored for efficient trading of mainstream digital currencies. Conclusion Mt. Gox .

at the time.

In a strategic leap this April, the New York State Department of Financial Services awarded Bitstamp a BitLicense, paving the way for the exchange to broaden its operations across the United States, bolstering its presence in the American crypto trading landscape. Bitstamp has become popular with both intermediate Bitstamp Features Winning a BitLicense compels companies to rigorous consumer protection benchmarks, showcasing Bitstamp’s resolve to transparency and regulatory fidelity. They mirror the high bar set by traditional finance sectors, enhancing strategies to engage institutional investors.

Recently, Bitstamp has woven a network of partnerships to expand its service repertoire. Collaborations enhance customer convenience, like the ability to transact in GBP with services from lead digital asset players, among others.

A bridge to traditional finance has been further solidified through a partnership with Dukascopy Bank, empowering their clients to handle Bitcoins with ease, converting into dollars, subsequently facilitating trades on Swiss FX platforms. This synergy lends to improved liquidity and compliance while merging the realms of crypto with classic finance.

Customer Support – There is an

• FAQ
• Supported Currencies
• Bitcoin (BTC)
• The exchange’s propensity for improving trader’s prowess is embodied in their collaboration with Irisium, whose market monitoring systems bolster safety and transparency. With these insights, Bitstamp enhances consumer protection while maintaining the integrity of its exchange.

Bitcoin Cash (BCH)

• Ethereum (ETH
• Litecoin (LTC)
• , and
• Partnering with Cinnober, they have infused their operations with cutting-edge financial technology, replacing the old matching system with TRADExpress Trading System. This implements a dramatic speedy improvement, radically boosting order processing capabilities.