Review: Bitstamp

Bitstamp is one of the longest-running exchanges in the world–they’ve kept it simple and as a result have picked up some excellent connections in the industry. They work closely with Coinbase, one of the biggest and best exchanges. They’ve attracted investment from Pantera Capital, a fairly major Bitcoin-specific venture capital investor, owned in part by Benchmark, Fortress Investment Group, and Ribbit Capital.

The short of it? If you’re looking for a good, simple place to buy and sell Bitcoin securely, and you’re Europe-based, Bitstamp is one of the best options you have available.

The downside? They only do BTC and they have slightly high fees if you’re a casual buyer.

The upside? They’re trusted more than competing European exchange BTC-e.

Details:

  • BitcoinWisdom recently switched to using them as the default exchange
  • ~10-20K BTC/day, fairly high liquidity
  • Recently improved fee structure: starting at a slightly-high 0.25% and moving down to an excellent 0.1% as volume increases
  • UK-based with an excellent team and offices in Luxembourg and the US
  • With the fall of MtGox, they’ve taken up the position of banner-bearer–and they’ve carried it excellently so far.

Pros:

  • Reputable, quick withdrawal timers, good KYC/AML work
  • Solid volume and liquidity
  • Works with Coinbase, granting additional legitimacy

Cons:

  • Slightly above-average fees if you’re under $600,000 USD volume per 30 days
  • Only BTC/USD
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