Bitstamp is a well-established cryptocurrency exchange that has been around since 2011. It's based in Luxembourg and is known for its robust security measures.
The exchange offers a wide range of cryptocurrencies to trade, including Bitcoin, Ethereum, Litecoin, and many others. You can check out their full list of available cryptocurrencies in our article.
One of the key security measures Bitstamp has in place is two-factor authentication, which adds an extra layer of protection to your account. This means that even if someone gets your password, they won't be able to access your account without the second factor.
Bitstamp also has a strict verification process in place, which helps to prevent identity theft and other types of fraud. This process involves verifying your identity through various means, including government-issued ID and proof of address.
Bitstamp Fees and Charges
Bitstamp Fees and Charges are structured in a flat fee schedule, with tiers based on the user's 30-day USD trading volume. This is a departure from the common maker-taker model used by many other exchanges.
Trading fees are incurred when an order is filled by Bitstamp's matching engine, and there's no fee charged if an order doesn't execute immediately. However, if an order is filled at a later point or canceled, the fee will be applied.
For high-volume traders, Bitstamp's fee structure can be a disadvantage, as it doesn't offer lower fees for market makers. In fact, Bitstamp charges the same fees for both makers and takers, which can be a drawback for market makers.
Here's a breakdown of Bitstamp's tiered fee structure:
Bitstamp Security and Compliance
Bitstamp takes the security of its users' assets very seriously. They store assets safely offline and offer protection through BitGo's insurance policy, as well as additional crime insurance for online wallets.
Bitstamp uses multi-sig technology for its hot wallets, keeping only a small portion of total crypto assets online. The majority are stored safely offline in cold wallet storage systems.
To secure user accounts, Bitstamp offers 2-FA, address whitelisting for withdrawals, and withdrawal email confirmations. These measures are in place to protect users from unauthorized access.
Sub-accounts are also available, giving users more advanced control over their trading. This can be useful for dedicating a sub-account to a particular trading strategy or bot.
Bitstamp has a security record that includes a single hack in 2015, where $5M worth of BTC was stolen via a targeted phishing attack on some of its employees.
Crypto Security
Bitstamp stores assets safely offline, providing an extra layer of protection for its users. This approach ensures that a significant portion of total crypto assets are not vulnerable to online attacks.
The exchange also employs BitGo's insurance policy, which offers an additional layer of security against potential losses. This policy provides a safeguard against unforeseen events.
Bitstamp uses multi-sig technology for its hot wallets, keeping only a small portion of assets online while the majority are stored safely offline in cold wallet storage systems. This approach minimizes the risk of online attacks.
The exchange offers 2-FA (2-factor authentication) for securing user accounts, adding an extra layer of security to prevent unauthorized access. Address whitelisting for withdrawals is obligatory by default for customers of various jurisdictions, further enhancing security.
Withdrawal email confirmations are turned on by default, providing an additional step to verify user identities. Sub-accounts are also offered, giving users more advanced control over their trading activities.
As for its security record, Bitstamp has been hacked once in 2015 for a $5M sum of BTC via a targeted phishing attack of some of its employees. This incident highlights the importance of robust security measures.
FCA Registers 42 Firms
The FCA has registered 42 crypto firms, including Bitstamp, which is a significant milestone in the company's expansion in the European market.
Bitstamp's registration has raised its licenses and registrations globally to 52. This is a testament to the company's commitment to complying with AML/CTF regulations.
Bitstamp already operates in Luxembourg and the Netherlands, and the approval in Spain enables it to expand its services, including electronic custody services.
Bitstamp Markets and Listings
Bitstamp offers a wide range of cryptocurrencies for trading, including Bitcoin, Litecoin, and Tether.
The platform supports over 20 different cryptocurrencies, with new listings added regularly.
Some of the most popular cryptocurrencies listed on Bitstamp include Ethereum, Polygon Token, and Shiba Inu Token.
Here's a list of some of the cryptocurrencies listed on Bitstamp:
Bitstamp's listings are reviewed at least once a week to ensure the list remains up to date.
Coins Supported
Bitstamp's extensive list of supported coins is a major draw for traders and investors. The exchange currently supports over 50 digital assets.
Bitcoin, the pioneering cryptocurrency, is naturally supported by Bitstamp, with its ticker symbol BTC and launch year 2009. Litecoin, another well-known cryptocurrency, is also supported, with its ticker symbol LTC and launch year 2011.
Tether, a stablecoin pegged to the US dollar, has been supported by Bitstamp since its launch in 2014. Other stablecoins, like USD Coin (USDC), launched in 2018, are also listed on the exchange.
The list of supported coins includes various Ethereum-based tokens, such as Uniswap Token (UNI), launched in 2020, and Ethereum Name Service Token (ENS), launched in 2018. Other notable Ethereum-based tokens include Wrapped Bitcoin (WBTC), launched in 2019, and Yearn.finance Token (YFI), launched in 2020.
Here's a list of some of the coins supported by Bitstamp:
This is not an exhaustive list, but it gives you an idea of the variety of coins supported by Bitstamp. The exchange regularly reviews and updates its list to ensure it remains current and relevant.
Markets
Bitstamp's markets are quite diverse, with over 150 trading pairs available. This includes a wide range of cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin.
The platform supports major cryptocurrencies like Bitcoin, Ethereum, and Litecoin, which are among the most widely traded coins. Bitstamp also lists smaller market cap cryptocurrencies, giving users access to a broader range of assets.
Bitstamp offers a variety of trading pairs, including BTC/USD, ETH/USD, and LTC/USD, among others. These pairs cater to different user preferences and trading strategies.
The platform's listing process is rigorous, with a focus on ensuring the security and integrity of the listed assets. This means that only high-quality, reputable cryptocurrencies are added to the platform.
Listing Schedule
Bitstamp is gearing up to add some exciting new trading pairs to its platform, and we've got the inside scoop on when you can expect them to go live.
The transfer-only mode is the first stage, where deposits and withdrawals will be open, but trading won't be enabled yet. This stage is scheduled for SXP on Tuesday, November 9 at 9:00 AM UTC, and for CEL on Wednesday, November 10 at 9:00 AM UTC.
The post-only mode is the next stage, where you'll be able to place and cancel limit orders, but they won't be matched, so no trades will actually be completed. This stage is scheduled for SLP on Thursday, November 25 at 9:00 AM UTC.
In the limit-only mode, order matching will start, and trades will be executed normally, but only limit orders will be available. This stage is scheduled for CEL on Wednesday, November 10 at 1:00 PM UTC, and for SLP on Thursday, November 25 at 1:00 PM UTC.
Here's a breakdown of the new trading pairs being added, along with their scheduled listing times:
Finally, once the order books gather sufficient liquidity, Bitstamp will enable all order types and card purchases for the new trading pairs, allowing for full trading.
Sources
- https://www.cryptowisser.com/exchange/bitstamp/coins/
- https://whiteboardcrypto.com/bitstamp-review/
- https://coinranking.com/exchange/b_T97fQvy+bitstamp/markets
- https://blog.bitstamp.net/post/were-listing-sxp-and-cel/
- https://www.financemagnates.com/cryptocurrency/bitstamp-joins-fcas-list-of-registered-crypto-companies/
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