Last Updated on by BBE Research Team
Bitstamp has been operating since 2011. It was registered by the brothers Damijan and Kodric Merlak in Slovenia and became one of the first stock exchanges for the trading cryptocurrency.
Now the top of the company is:
- Nejc Kodrič – the Director of the company;
- David Osojnik – Chief Technical Officer;
- Stéphane Leloup – Director of Internal Control;
- Vasja Zupan – Chief Operating Officer;
- Toki Ralaza – Chief Financial Officer;
- Dan Morehead – Chairman of the Board of Directors;
- Damijan Merlak – Board member.
The official owner of the exchange is Bitstamp Ltd. There are 3 main offices: in London, New York, and Luxembourg. It is regulated by the Luxembourg Financial Industry Supervisory Commission, known as the CSSF, whose licensure guarantees that the company reports to responsible authorities with some frequency.
Bitstamp cooperates with well-known companies such as Ripple, CACEIS, and Swissquote. An important fact is that the exchange constantly publishes its latest news on the pages of popular social networks Twitter, Facebook, LinkedIn, where it promotes its service with great activity.
Many people are interested, is Bitstamp legit? The answer is yes, this is the very first exchange licensed in Europe, which gave it the opportunity to gain an advantage in the first stages of the work and to hold high positions in the ratings even now. With Bitstamp, you can always receive and send money with complete peace of mind and confidence, as it is registered as a payment institution. Is Bitstamp fraud, is Bitstamp scam? Definitely, it in’t.
Is Bitstamp safe?
What can we say about security in this Bitstamp review? Now the exchange is one of the most securely protected. In order to maximize the security of users’ assets a two-factor authentication system is installed, letters always come to the email, when a transaction is attempted to confirm it, verification of a mobile phone with SMS Price Alerts connection and account management by API. Also, if necessary, you can establish contact with specialists via phone or e-mail, which is not available on all exchanges. It is impossible not to say that 98% of all savings are stored using cold storage technology and only 2 are available directly on the stock exchange.
Such serious methods of protection are realized for a reason. In early 2015, the operational wallet of the Bitstamp was hacked, which caused the company’s loss of about 5.3 million dollars (4.4 million Euros). Although it restored its operation quickly enough, it was badly reflected both on its reputation and on the bitcoin course.
On the official site of bitstamp.net, this section is quite informative. Below is a table, where you can see Bitstamp fees in detail.
Unfortunately, the exchange supports only 5 of the most popular crypto-currencies. Bitstamp reviews Bitcoin, XRP, Litecoin, Etherum and Bitcoin Cash and also Euro and Dollar.
The following payment options are offered for input and output on the exchange:
- SEPA – European translation;
- International bank transfer;
- Cryptocurrency deposit.
- Credit card.
The commission for them is differs from free of charge for SEPA to 5% for cards. As the support says, there are no Bitstamp limits for verified users, but the minimum value is 5$ payments .Let’s compare the results of the survey and highlight the main sides of this exchange.
Here you got Bitstamp review 2020 and if anonymity is less important for you than security you should choose this exchange and trade safely.
- The large volume of trades. The exchange takes place at the top 5 of the largest exchanges, so the speed of buying and selling here is always at a high level.
- The exchange is licensed. Is Bitstamp safe? Bitstamp is the first licensed platform. Users shouldn’t be afraid that the website will be blocked by law enforcement agencies.
- Bank transfers and SEPA. You can replenish your wallet with a card. This greatly simplifies the work with the exchange.
- Poor Bitstamp support service. Even with ticket system, they are still unfriendly and slow.
- The limited number of pairs.
- Long Bitstamp verification time. They say that it can take more than 24 hours, but some users have been for weeks.