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Bitstamp is an exchange platform, used by thousands of people all around the globe. If you are thinking about the safety of your cryptocurrencies, you do not need to worry anymore as your cryptocurrencies are safe with bitcoin-motion.cloud. On these exchange platforms, 98% of the assets and cryptocurrencies are kept in cold storage wallets. Cold storages are the safest type of storage as they are no risk of hackers and intruders. The funds that are stored in hot storage are comparatively very less, almost 2%. These funds are used for routine trading.
Moreover, Bitstamp has another layer of protection with an insurance policy for crime. The insurance is effective only when the exchange is breached or hacked. It does not cover individual accounts if your sign-up permits are misused by anyone.
Perks of Bitstamp:
Bitstamp is one of the oldest platforms, catering to clients for the longest. Let’s see what makes this platform a leading one in the crypto world.
Reasonable Trading Charges:
Bitstamp is known as one of the best cryptocurrency exchange platforms when it comes to trading charges. This platform offers a straightforward fee structure. The highest trading fee on Bitstamp is just 0.05% for the users that have under $10,000 in 30-day trading volume. If you are trading higher amounts per month, you will get discounts too.
User Friendly:
When it comes to its interface, it is extremely easy to use and simple to understand. Learning crypto trading on Bitstamp is not much of a task. This platform is pretty direct where you can easily learn how to purchase or sell cryptocurrencies here. Especially if you are new to the crypto world, this exchange platform is the one you should go for.
Advanced Platform:
Bitstamp has a regular platform as well as an advanced platform. It offers Tradeview which is an active trading platform. This provides projecting features and trading forms to its clients.
What’s best about this exchange platform is you will not see any changes in the trading charges whether you use a regular platform or an advanced level platform, Tradeview. Many other exchange platforms including Coinbase, Gemini, and Bitcoin Trading Software have slightly lower charges on their advanced level platforms. But when using Bitstamp, there is no difference in the price.
Mobile Application:
Its mobile application is highly rated all over the world. Having a top-notch quality mobile application is a top perk as it facilitates you in many ways. It allows you to check your collection with just a click. Moreover, you can make easy trades even when you are not using the computer. The Bitstamp mobile application offers full trading functionality and has received plenty of positive feedback on the App Store as well as on Google Play.
Strong Crypto Collection:
Bitstamp offers you easy trading of 45 solid cryptocurrencies. Although this number is very less than the majority of the crypto exchanges, it has an appreciable collection of well-known digital currencies including Bitcoin, Ethereum, Uniswap, and many others.
If you are in search of the best exchange platform for Bitcoin and other major cryptocurrencies, Bitstamp is everything you are looking for.
Improvements to Make:
Though this platform is a hit, there are still some factors that need to be improved.
Less Supported Cryptocurrencies:
Bitstamp has a decent number of supported cryptocurrencies that include some notable digital currencies. But still, this platform lacks a lot of major currencies. Three of the most known missing currencies are Solana (SOL), Polkadot (DOT), and Avalanche (AVAX). All of these cryptocurrencies have big market caps but still are not available for trade on Bitstamp. If you are interested in trading some specific cryptocurrencies, you might need to look at Bitstamp before you Sign up.
Security Issues:
Though the platform is using high-level security practices, it was still hacked in 2015. This security mishap targeted Bitstamp employees and stole around 19,000 Bitcoin which was at that time worth $5 million at that time.
Bitstamp is working to rebuild the platform and working on high security. Since then, no such breach had happened.
Bottom Line:
Bitstamp is a platform that is majorly used by beginners for crypto trading purposes. Though the platform is old, the team is still working hard to build advanced security. If considering using this platform, make proper research before using it.
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