The process of obtaining one’s first bitcoin or other cryptocurrency can be a daunting task. Numerous trading platforms lower the barrier to entry for this industry. Bitstamp, the longest-standing exchange, is one of the more convenient ways to complete this process.
A Proven Track Record
As far as bitcoin exchanges are concerned, dozens of companies have come and gone since the project’s inception. The invention by Satoshi Nakamoto has attracted a lot of interest in the past few years. During the initial stages, however, it was not all that easy for existing trading platforms to remain relevant and operational.
Bitstamp is one of the handful of companies to successfully go through the motions in the cryptocurrency industry since 2011. It has survived where others have perished, and continues to push the boundaries of innovation. The company has built up a solid reputation due to its convenience, acceptable fees, and a mature and professional approach to bitcoin and alternative currencies.
What Sets Bitstamp Apart?
The main purpose of a cryptocurrency exchange is to make the trading process simple. Bitstamp does this by providing a clean interface with no unnecessary bells and whistles. There are also no withdrawal limits, which is something both novice and experienced traders will be rather happy with. The convenience factor also extends to the payment methods, for both deposits and withdrawals.
Another crucial aspect for bitcoin trading platforms is security. Bitstamp keeps virtually all assets traded on the platform in cold storage. Utilizing this method keeps it safe from criminals if the platform ever were to go through a security incident.
Bitstamp’s encryption of personal data also ensures user details are kept safe. Combined with regular internal controls, the firm prioritizes security above everything else.
Ensuring the platform remains operational at all times is another factor setting this exchange apart. There are no mysterious hiccups, such as those suffered by other exchanges. Bitstamp also provides dedicated customer support around the clock, which is something other companies can learn a thing or two from.
The Currencies to Purchase
While many people view Bitstamp as a bitcoin exchange, the company provides exposure to other digital assets as well. Customers can obtain XRP, Litecoin, Ethereum, and Bitcoin Cash. All of these assets have a respectable market valuation and are among the most popular offerings globally.
Supported Payment Options
One downside many exchanges face is how users need to go through time-consuming methods to pay for their orders. With Bitstamp, that situation is very different. The company enabled credit card support quite some time ago, a method that can be used to buy digital assets by users globally.
Other traditional methods are also supported, such as bank transfers (SEPA or international wire) for both deposits and withdrawals. Users can also simply withdraw all of the supported digital assets from the platform and move it to a wallet under their control.
Maker and taker fees are a big part of any cryptocurrency trading platform. It will all come down to how much volume one’s account generates over a 30-day period.
High-volume traders will be able to achieve a 0% fee on all trades, yet it requires generating over $10bn in volume. All deposit and withdrawal methods also have their own fees, which can be found here.
The Mobile Application
Utilizing a web interface of an exchange is one thing. A lot of users also want a mobile experience, which isn’t always easy to come by. In the case of Bitstamp, there is a dedicated mobile application that provides all of the core functionality. It even includes analytical tools and advanced order types. There is an Android and iOS version.
What makes this mobile app remarkable is how it lets users buy and sell digital assets from their mobile device. This lowers the barriers en entering the cryptocurrency industry even further. As more and more consumers rely on mobile devices, applications like these can become crucial to keep expanding the cryptocurrency community on a global scale.