Overview

18/09/18 07:19 UTC-4

Strengths and weaknesses of Вitstamp

Pros and cons of Bitstamp
Pros and cons of Bitstamp

Bitstamp – one of first-ever crypto-platforms and included in TOP-10 the best. The official going into a market and delivery of license passed at the beginning of 2011, in Luxemburg. A platform deservedly earned the trust of clients and justified the reputation, not looking on breaking and fraudulent attacks with that managed very successfully.

Interesting in the section: Crypto-exchanges: guidelines for beginners

An exchange is counted on more experience traders, so that, if you yet novice on this business, you need to seek out something easier. And among the sharks of mining of electronic coins, a platform is very actual and top.

 

Main advantages

Let us be stopped for the main advantages of exchange:

  • Support 11 crypto steam.
  • Favorable commission fee.
  • Guaranteed reliability and honesty, time-tested platforms on the market.
  • It has significant trading volumes and therefore represents a good exchange for major purchases or sales.
  • Supports the purchase of a crypt using credit cards.
  • Regulated by CSSF. Thus ensuring the safety of user funds.
  • Supports Bitcoin Cash trading.
  • Cheaper and more efficient than individual exchanges, such as Localbitcoins.
  • Despite the significant theft of its reserves, Bitstamp has maintained a solid reputation and has not suffered from prolonged trade outages. Similar reputation and customer recovery occurred with Bitfinex (Hong Kong’s main exchange).

 

Weak sides

As for the weaknesses of the exchange, they are as follows:

  • As with all centralized exchanges, private keys are controlled by exchange operators.
  • Unlike the free Coinbase loan, at Bitstamp for new traders a $ 10 fee, the exchange does not offer such a free choice for market promotion.
  • Account verification takes more than three days. Similar waiting times can be observed at Coinbase, CEX and Kraken.
  • Users must share an invasive amount of personal information when transactions reach a threshold (~ $ 10,000).
  • Although additional cities have been added, the service is not available in all countries. The Bitstamp Coinmama competition offers similar purchases for credit cards to users anywhere in the world.
  • It supports only four crypto-conversions and compared to competitors such as Kraken, Bitstamp rather slowly adds new large altcoins, such as Bitcoin Cash & Ethereum.
  • To register user accounts, a long list of unusual fees applies. However, they are much cheaper than on the CEX or Coinmama exchanges.

Interesting in the section: Universal opportunities of Stellar Lumens

Bitstamp will be one of the best options for confident traders, and a license of a company is also a huge plus and worth, for today it is far from being a particular phenomenon among competitive stock exchanges.

Editor: Yuliya Soroka

#bitstamp #cryptocurrencyexchange #exchange #bitcoincash #transactions

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