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Author Topic: How safe is Bitstamp for Americans?  (Read 8917 times)
Bitcoinn_Kingg
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July 12, 2017, 01:04:17 AM
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Im looking to buy my first bitcoins and looking to wire to bitstamp. After taken into consideration all the fees, deposit, withdrawal, international bank fees, trading fees, and safety, it looks like bitstamp is the winner. Kraken is a close call for me since it is based in America and has similar low fees, but bitstamp seems to have a better reputation unless someone can vouch for kraken.

Im looking to do a somewhat sizeable transaction at about $35,000 so im kind of paranoid sending money to just any exchange. Has anyone here used BitStamp? How was the deposit? How was the withdrawal? Did they try to freeze your funds when it came to withdraw? Im worried that at the time I want to withdraw they might try to hold my funds? How realistic is that? Im also looking to transfer my bitcoins to a TREZOR hardware wallet for additional safety after i buy the coins. Has anyone had any experience transferring large amounts of bitcoins to a hardware wallet such as TREZOR from bitstamp? They seem to have a partnership now so it should be somewhat easy.

Hopefully someone can clear this all up. Just want a safe exchange that I can rely on sending 35k to. Thanks in advance
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July 12, 2017, 01:40:54 AM
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Now a days bitstamp accepts credit cards also for the purchase of bitcoins. For the time being, the Simplex gateway is only available to customers in the US, though.  Users can buy Bitcoin with their Visa or Mastercard debit and credit cards alike. Customers in the EU and various other countries have been using a similar feature for quite some time now. It is evident this traditional payment method has been rather successful in those parts of the world.

All of this shows demand for Bitcoin will continue to increase. Even though the price is correcting itself right now, there is nothing to worry about yet. The 8% fee is quite steep, although the BTC price can [easily] gain a similar or higher value to offset the costs. An interesting move by Bitstamp, to say the least.
Bitcoinn_Kingg
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July 12, 2017, 01:57:46 AM
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Well i forecasted this drop in price because the RSI chart is so predictable. Right now its around 35RSI and could go to about 25-30 putting it around $2,000 or even 1900. I dont want to use a credit card due to the high fee. Do you know anyone who has successfully deposited and withdrawn large amounts from bitstamp?
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July 12, 2017, 10:56:18 AM
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Why aren't you considering GDAX, Gemini or Itbit?

Kraken's USD uses a piece of shit third party that has a habit of losing or locking your money. Bitstamp are legit but they're so anal about KYC there's no way I'd use them any more.

As an American you have some great options denied to people elsewhere. Make use of them.

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July 13, 2017, 02:33:43 AM
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gentle, do you know anyone who has withdrawn and deposited large amounts at gemini or itbit? Also what has been your experience or others with GDAX, i believe the trading is free? Isnt it part of coinbase?
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July 13, 2017, 06:14:56 AM
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I have deposited (mostly) thousands euros on Kraken and trust them for that, using SEPA, it's quick and free, so I never sent more than 1000€, rather I sent dozens of less than 1000€ wires.

From following the Kraken thread it seems things are less easy for USD transfers, which I find strange, but I guess the CIA or NSA has something to do with it.

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gentlemand
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July 13, 2017, 09:25:34 AM
 #7

gentle, do you know anyone who has withdrawn and deposited large amounts at gemini or itbit? Also what has been your experience or others with GDAX, i believe the trading is free? Isnt it part of coinbase?

I'm not American so can't use either of those, but Gemini and Itbit are designed for large players so I assume they're set up for decent amounts. You certainly hear far fewer moans about Gemini than most places. Itbit is pretty mysterious in comparison so I'd stick to Gemini.

GDAX is Coinbase owned. Trading isn't free anywhere other than Japan these days.

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