Crypto Exchange Explained

Cryptocurrency Exchange Guide: Bitstamp

The Bitstamp exchange founded by Nejc Kodrič (CEO) and Damijan Merlak started its operation in 2011. The Luxembourg based company initially started functioning from Slovenia, then moved to the UK in 2013 due to inadequate legal and financial services. As the exchange wanted better regulations, it finally opted for Luxembourg. The exchange is designed to accommodate the needs of experienced traders who need advanced tools for the successful trading session.

Though the exchange suffered a hack, which resulted in the loss of 19,000 bitcoins to the theft, the exchange has a solid reputation among the public. The customers did not suffer from the money lost as the company reimbursed the coins. The exchange modified its platform again with advanced security features to prevent such attacks. The adequate security measures taken by the company has impressed the people making it more reliable.

The fees of 0.25% while buying or selling the digital coins at the exchange is considered as the lowest in the industry. Depending on the volume of trading, the fees vary between 0.25% (maximum) and 0.10% (minimum). The deposits and withdrawals carry no charge. The international users have to pay 0.05% deposit fee while the SEPA deposits have no charge. The international bank withdrawals are .05% and the SEPA withdrawals cost 0.90 EUR fee.

The exchange offers different payment methods to offer convenience to the users. The exchange offers a chance for the traders to buy the digital coins using the cryptocurrencies, debit and credit cards.

The users must enter their personal information, upload photo, ID document, and proof of residence to get the account verified. For extra security, the users can opt for the phone verification to make the account more secure.

The Bitstamp exchange is supported by 28 EU states and 50 other countries including Australia, Brazil, China, South Korea, US, etc.

This Luxembourg based bitcoin exchange system deals with the currency like Bitcoin, XRP, Litecoin, Ethereum, Bitcoin Cash. Bitstamp uses custom software to access the coin exchange and account control.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Pooja Anoj is a cryptocurrency blogger who covers exciting crypto news stories and crypto guides for OWLT Market.

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