Bitstamp Review 2024

August 30, 2024 09:00 AM PDT | By Team Kalkine Media

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Who Should Use Bitstamp?

Bitstamp is a good option for those new to crypto trading. The platform provides access to major cryptocurrencies and several popular altcoins, along with an easy-to-use instant buy feature. More advanced traders may also find its variety of order types appealing for managing short-term price fluctuations.

Why Choose Bitstamp?

Easy-to-Use for Beginners
The platform’s simple design makes it accessible to those just entering the world of cryptocurrency, with an instant buy feature for fast transactions.
Range of Order Types for Advanced Traders
Bitstamp offers several order types to suit different trading strategies:

Instant orders: Execute immediately at the current market price.
Limit orders: Set a preferred price for buying or selling.
Market orders: Buy or sell at the best available price.
Stop orders: Set specific entry or exit points to manage risk.
Trailing stop orders: Flexible stop orders with a “trigger price.”
Fill-or-kill orders: Buy or sell a specified amount at an exact price.

Phone Support
One standout feature is Bitstamp’s phone support, uncommon among crypto exchanges, providing a direct way to speak with customer service.

Disadvantages of Bitstamp

Limited Advanced Trading Features
While Bitstamp caters well to beginners, it lacks advanced tools like margin trading and does not offer features such as a rewards card, which are common on other platforms.
Customer Support Options
For those who prefer text-based support, Bitstamp may not be ideal. The platform offers no live chat, only email ticketing for customer queries.
Security Rating
Bitstamp has a lower-than-ideal security ranking, earning a BB rating from CER.live. It is not listed among the top 50 cryptocurrency exchanges on the platform’s security rankings.

Staking Options

Bitstamp allows staking for a few cryptocurrencies, including Ethereum (ETH) and Algorand (ALGO), giving users some passive earning potential, though it doesn't offer as many staking options as some competitors.

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