A Bitstamp review can help novice parties in getting a good idea of whether the platform is good enough for them to use or not. How can you determine which exchange is good or suitable? Whether you are looking to buy crypto or trade it, you need to define some criteria and know what kind of exchange you want to opt for. If you are a new trader you should also form a proper trading plan. A crypto exchange that matches that criteria or trading requirements the most can be categorized as the best exchange for you.
If you know what your predefined criteria is and what kind of exchange you want to choose then looking for a suitable platform can become easier and less stressful.
It is one of the oldest and most popular crypto platforms in the market and offers some of the best and high-end features to the users. This exchange stands out among its competitors due to the features that are mentioned below in detail.
To know details such as, “is Bitstamp safe and suitable?” you need to have the information that is mentioned below.
Bitstamp Review – What to Know About the Platform
It support various payment methods and offers one an impressive daily traded volume. Even though its trading volume is not as high as its competitors, it outshines them in other ways.
If you are interested in using the exchange then you should know the details mentioned below.
What to Know About its Security?
To know is Bitstamp safe is quite an important query, especially for people who are new to the crypto space. Choosing a platform that prioritizes your security and safety can also help you handle several safety risks and challenges. Therefore, finding and using a highly secure exchange is important not just for novice parties but for every crypto investor and trader.
If you are looking through this Bitstamp review to know about the platform then you should know that it is one of the safest platforms in the market.
With time, Bitstamp has grown to offer a safe and secure crypto investing or trading experience to the users. This is made possible by implementing advanced security protocols some of which are mentioned below.
- Annual account auditing
- Cold storage
- Email confirmations
- Google Authenticator Login
- Know your customer (KYC) verification process
- Two-factor authentication (2FA)
Fee Structure of the Exchange
A unique feature mentioned in this Bitstamp review is related to its fee structure. Unlike several other crypto platforms in the market, Bitstamp does not follow the market maker and taker fee model. Instead it charges a flat fee for the trades that are placed.
As a crypto trader and user of the exchange you should know that if your trades are under $20,000 you will be required to pay a flat fee of 0.25%.
If the monthly trading volume is beyond $20 million, the fee mentioned above can be reduced to 0.10%. While the trading volume of the exchange is higher than other platforms, it is safe from different kinds of frauds and varies based on the deposit and withdrawal method you choose. You should look for an exchange based on what other features it offers.
Licensed and Regulated
This exchange offers numerous features to the users, however, people who want to know is Bitstamp safe can get to know that it is the first licensed and regulated exchange in the world.
The platform originally originated in Slovenia, however, it was later moved to Luxenbourg. Right after the move, the platform was made legit because it was regulated.
This led to the creation of the world’s first regulated crypto exchange. The license of the exchange is valid in 28 countries in Europe.
Versatility of the Exchange
One of the most crucial aspects mentioned in this Bitstamp review is that it is versatile and supports the users to buy crypto assets as well as fiat currencies.
The fiat currencies it supports are U.S. Dollar and Euro and can be purchased by any of the available payment methods.
As a user of any exchange you should always take time to fully understand what the platform has to offer. The more you know about a platform the easier it can be for you to determine if it is suitable for you or not. This is why this Bitstamp review has a lot of significance.