Bitstamp Cryptocurrency Exchange Review
Bitstamp is one of the oldest and most popular European bitcoin exchanges. It began as a simple fiat currency to bitcoin exchange in 2011, when the cryptocurrency world was still in its infancy. Based in the United Kingdom, Bitstamp still remains the most popular cryptocurrency exchange in Europe. It does noticeable business over there. It was the first exchange to offer a host of services including multi-signature sign ins for its wallet and insured cold storage to its users.
Why choose Bitstamp?
98% of Bitcoin being held in the company’s vaults are in cold storage and off-line. Therefore, you have a lower probability of people hacking into it and stealing your bitcoins. If you are looking for a wallet application from an exchange that offers you great security and liquidity, Bitstamp is one of the best choices in Europe right now. It accepts both Dollars and Euro as funding sources.
The coin exchange is famous because of its competitive transaction fees and charges just 0.25% of the transaction under $20,000 figure. The fee gets lesser as the transaction amount increases with just 0.10% charged for exorbitant transfers above $20 million. So, big corporations who are using bitcoin/other as payment like to pay and receive through Bitstamp due to the decreasing transactions costs.
It’s certainly not the most innovative crypto exchange available as others do put a lot of effort. It works, though, and has the security consciousness in its system that all users prefer over other things. Its monthly trading volume of around 222,000 BTC speaks for itself.
Recently, it has made news along with Coinbase to halt the proceedings of Bitcoin Cash. This happened even though most of the other exchanges are accepting it, at a limited extent. The reason Bitstamp is not allowing to withdraw it’s because it’s not considered an exchange that shifts from its policies so often. Very British of it I have to say!
So, a lot of Bitstamp users with valuable BCH assets still can’t access their new coins. That being the case, they want to sell them off. You can expect them to eventually agree to trading it but that will take a while. You can also expect a significant drop in price of Bitcoin Cash when that happens!
So, letting Bitcoin Cash aside, Bitstamp is a really good exchange option. The company is currently concerned about the backlash of the Chinese government on crypto exchanges and bitcoin holders. You can expect them to continue this policy until the storm subsides.