Centralized exchange is one of the good choices for buying and selling digital currencies, which are replaced by decentralized exchanges in some situations. Bitstamp exchange It is also one of these centralized digital currency exchanges that are used for buying and selling.
After creating a user account in this exchange, you can easily trade the digital currencies you want. In the following, we discuss some of the important features of this exchange.
Introduction of Bitstamp exchange
Before getting acquainted with bitstamp exchange, we suggest what is digital currency exchange article? read the Bitstamp centralized exchange It was founded in 2011. Therefore, it is considered one of the oldest digital currency exchanges. Currently, all traders looking to buy and sell top and popular cryptocurrencies with competitive trading fees can use Bitstamp. There are three types of trading methods in this exchange Tradeview, Bitstamp Mobile And Bitstamp.Net are carried out, and in the following, we will introduce each of these transactions to you.
Bitstamp exchange offers great features along with a user-friendly environment. One of these possibilities is the high security of the account and property of the users of this exchange, which is maintained in this high-risk digital currency market. On the other hand, the very simple environment of this exchange makes buying and selling processes in it very quick and easy.
Remember, entering the digital currency market requires high knowledge and experience, and lack of knowledge causes losses. So, make sure that you are aware of digital currencies before starting to invest and buy and sell them.
Bitstamp exchange facilities
To learn more about the Bitstamp exchange, you must familiarize yourself with its features. The facilities available in the digital currency exchange make you do different transactions and use different analyses.
Bitstamp.Net
This section of the Bitstamp exchange allows you to make instant transactions, Limit, Market and stop buying and selling of digital currency. Also, it is possible to purchase at an additional cost from Bitstamp inventory or connect to a credit card. exchange Bitstamp.Net It has a basic chart for cryptocurrency analysis, current buy and sell offers and a simple trading form.
TradeView
Another feature of the Bitstamp exchange is TradeView is the most used Professional traders Placed. This section of Bitstamp features a complete and advanced chart for analysis, live updated order display, depth chart and quick trading forms. As a Bitstamp user, you can perform all types of transactions available in the exchange both through TradeView and Bitstamp.Net.
Bitstamp Mobile
Bitstamp exchange has a mobile version that can be installed on Android and IOS devices. You can download this program through Google Play and App Store. This mobile version has all the features available on the exchange website version. It means that you can do any type of transactions that you do with the web version with the mobile version.
Whenever you have a strong and secure internet connection, you can not only buy and sell digital currency through the mobile version, but you can also send and receive digital currency.
Transaction fees
Generally, trading fees on this exchange start from 0.50% for regular trades on all trading pairs. This amount of fee cannot be considered too cheap or too expensive, but it can be equal to its important competitors.
If your transaction volume is more than $10,000, the fee will be reduced. That is, the higher the volume of traders’ transactions, the lower the fee. Bitstamp exchange only has the possibility of staking 2 digital currencies, and if you intend to stake them, it will receive 15% of the income from this staking. Of course, for this 15%, he does not receive any commission.
security
As you probably know, cryptocurrency transactions cannot be reversed. That is, if you send your asset to a wrong account or wallet, you cannot get it back. Therefore, if your exchange assets account is attacked or hacked, your loss will not be compensated. For this reason, Bitstamp uses methods to increase the security of people’s user accounts. One such security measure is multi-factor authentication performed by a third-party authentication program. You should also use a unique password when creating a user account to increase the security of your account.
One of the other security measures of Bitstamp exchange is keeping users’ assets offline. Make sure to use multi-factor authentication when creating a user account. When depositing or withdrawing from the account, be careful in recording the origin and destination of the transaction.
Support
Another important service and facility of Bitstamp exchange is support. For users inside Iran, it may not be important to use the support email or contact number, but the frequently asked questions section of the exchange is definitely useful. So whenever you have a problem while using the exchange, go to the help section on the site and read the answers to frequently asked questions.
To access support, you can also use the exchange’s support email or contact number, which are answered 24 hours a day. Of course, contacting exchange support is only possible for US customers.
Customer satisfaction
Like many other digital currency exchanges, Bitstamp exchange has many positive and negative feedbacks. Primarily, most of the negative reviews for Bitstamp are centered around slow withdrawal speeds and poor customer service interactions.
Bitstamp, like many other exchanges, is a bit limited in customer support and you should focus on your activities in the exchange first. It is even possible that if you have never worked with any other exchange before, you will be a little confused when using Bitstamp.
User account management
Bitstamp user account has a Online dashboard which allows you to manage the contents of your account. Management includes transaction history, portfolio contents, current transaction fee row and other account balances. This dashboard allows you to deposit through a bank account, credit or debit card, with which you can transfer or withdraw digital currency. Note that Bitstamp’s TradeView section has a more limited account management section.
Positive and negative features of Bitstamp exchange
To summarize the introduction and familiarity with the Bitstamp exchange, we want to review some examples of its positive and negative features together. Keep this feature in mind and choose Bitstamp according to your need for a digital currency exchange.
Positive features of Bitstamp exchange
- This exchange has a simple and user-friendly environment that simplifies the process of buying and selling digital currency for you.
- The trading fees of this exchange are competitive. That is, the fees start from 0.50% and as the volume of transactions increases, the amount of fees decreases.
- Bitstamp is an old and reliable exchange that has been offering digital currency buying and selling services to its users for more than a decade.
Negative features of Bitstamp exchange
- Bitstamp exchange supports more than 54 digital currencies, which is relatively less than other digital currency exchanges.
- Only 2 digital currencies can be staked in this exchange, whose rates are above 5%. For this reason, the possibility of staking in this exchange is a little limited. Other exchanges offer more staking options and higher APR rates.
- Bitstamp Exchange, unlike other competitors, allows you to make margin transactions Lending does not have
Registering and making transactions in the Bitstamp exchange
You will definitely be interested in using the Bitstamp exchange after checking the features and positive features. To use this exchange, you must first register in it and then learn the steps of making a transaction in it.
Register
To register in Bitstamp exchange, follow the steps and pictures below.
- Enter the main page exchange Bitstamp and from the top right, option Get started Choose.
- On the page that appears, enter the required information, including your name, surname, email address and date of birth, and finally, click on the option Continue click.
- To use this exchange and most foreign exchanges, it is better to turn on your filter and choose your location in a country other than Iran.
- Now, after completing the information, an account confirmation email will be sent to your email address, which you must confirm.
- Your account in Bitstamp exchange is ready and you can start trading.
Conduct transactions
To start trading in this exchange, you must first top up your account. Since foreign exchanges do not support Toman, you have to convert Toman to a fiat currency such as USD or a stablecoin in Iranian exchanges such as Valex. USDT convert Finally, transfer it to your Bitstamp wallet to enable cryptocurrency transactions.
From the top menu of the main page of the exchange, option Market Choose.
- On the page that opens, find the digital currency you want and click on it.
- After checking the price chart of the desired digital currency, pay attention to the box on the right side of the page.
- To buy, on Tab Buy And for sale on Tab Sell click.
- Enter the desired trading pair along with the buy and sell amount and finally, complete it by specifying the type of trade.
Bitstamp exchange allows its users to do spot and futures transactions, which is one of its important features.
Coinbase vs Bitstamp
Generally, Coinbase exchange It is better than not only Bitstamp exchange but also many other exchanges. Coinbase supports more than 150 digital currencies, but Bitstamp supports more than 54 digital currencies for buying and selling. For this reason, Coinbase can be considered a more complete exchange for buying and selling digital currency. Of course, for us Iranian users, using Iranian exchanges such as Valex is a better choice. Because it directly supports Toman and it is possible to connect an Iranian bank card to this exchange. On the other hand, with existing sanctions for Iranian users, we cannot use foreign exchanges without a VPN.
Written by Bitstamp Exchange; Introduction of Bitstamp exchange and its features for the first time on Wallex blog. appeared.
