Will you recommend me to use bitstamp in 2019?

[lizardbtc]

Hey all,

This might be stupid question to ask from my side, but I was out of the loop of crypto which means that I haven't followed any news whats so ever. Basically last thing I remember hearing about bitstamp is that they were sold to another company.

I remember they were okay in the past for buying and selling bitcoin as a reputable exchange over the years. Just before I get in any business with them now I want to make sure if it is still a solid exchange for EU countries? Have they had any problems recently and is it worth it to verify my acc there? As I've used only like LBC in the past and want to get verified with exchanges now for better rates ofc.

Thanks in advance guys!

~lziardbtc

[1714497243]

1714497243

[OmegaStarScream]

I think when it comes to the rates, trading with individuals is better as there are no third party fees.

Bitstamp is still solid but there are other options on the market: Coinbase, Coinmama, BitPanda, Bitfinex. It depends on the payment methods you're willing to use and where you're from.

[lizardbtc]

I think when it comes to the rates, trading with individuals is better as there are no third party fees.

Bitstamp is still solid but there are other options on the market: Coinbase, Coinmama, BitPanda, Bitfinex. It depends on the payment methods you're willing to use and where you're from.

No third part fees but if we look for instance at LBC prices usually what you will get is +/- 100$ depending if you are buying or selling which to my understanding "trusted" exchanges have better rate even with fees if we say they don't seem much other than if there are any hidden fees included ofc.
https://www.bitstamp.net/fee_schedule/ reasonable for me I guess.

Thanks for your input, really appreciate it man 

[BitHodler]

Bitstamp is ok as long as you deal with EUR, not sure how their USD side is. The thing with an exchange like this is that they keep asking you silly questions in order to know more about you.

People are being asked things like how much crypto you plan to trade in the coming months or years, what the source is, if you can point them to addresses your coins are stored in, and the list goes on. It's horrible.

I'm not sure about LBC and their hunger for your information, but at least you're doing peer to peer business, which is better than subjecting yourself to an exchange like Bitstamp or Coinbase.

[lizardbtc]

Bitstamp is ok as long as you deal with EUR, not sure how their USD side is. The thing with an exchange like this is that they keep asking you silly questions in order to know more about you.

People are being asked things like how much crypto you plan to trade in the coming months or years, what the source is, if you can point them to addresses your coins are stored in, and the list goes on. It's horrible.

I'm not sure about LBC and their hunger for your information, but at least you're doing peer to peer business, which is better than subjecting yourself to an exchange like Bitstamp or Coinbase.

Coinbase is not an available option for my country but knowing the reviews of it I don't think I'll go for them even if they were available. Well I can't really tell the sources as seriously I have mixed up everything. Earned crypto by doing services to others then traded them they are all mixed up now xD so I guess it is not worth the hustle. And was thinking to trade with their USD pair as that is what I've got atm.

At least before LBC had not asked for single information, you could go and trade there freely without giving your ID. Ofc some traders might ask for an ID but you don't have to go through them in order to buy or sell.

Yeah my point of view was a bit the same in the past for BIG exchanges but wanted to try something different. Guess it is not worth it.

[Beerwizzard]

What is the problem with LBC? Most of the popular payment methods have a small fee with just 1-2% difference from the exchange rates. Almost the same amount will be charged for making a trade and withdrawal from the exchange. Also there is usually an insane amount of KYC verification needed just to deposit your fiat money to the exchange account and banks (especially in my region) have a pretty high minimum limit for transactions, that are used for deposit.

Ofc some traders might ask for an ID but you don't have to go through them in order to buy or sell.

It usually depends on the payment method.

[rokkyroad]

You should be alright with EUR. They changed hands last fall and payment processing. Lots of trouble with USD and less with EUR. They will ask many Kyc questions and they will threaten you with less than stellar service if you don't comply. I don't know if the new owner fired some of the staff but support became very slow. I pulled out of bitstamp.

[gentlemand]

I'd never put any money in them again. That's not because they're thieves but anywhere that intrusive can fuck off, and anywhere that freezes your money and is even more intrusive even after being 'verified' can quadruply fuck off. And die.

[LeGaulois]

A lot of Europeans citizens are using Kraken and it works like a charm. Bitstamp is good as well but Kraken is faster with banking transactions. You can receive your payment withdraw within a few hours sometimes. Bitstamp is faster when it's about to verify your account with your ID.

[harizen]

... I want to make sure if it is still a solid exchange for EU countries? Have they had any problems recently and is it worth it to verify my acc there?

Different people have different preferences. Bitstamp as of now is still one of the "reputable" ones but we can't hide the fact that there will always be a minor or major problem that will experienced by others which is usual even on much bigger exchanges.

If you are fine and comfortable with deposit methods = OK
If you are fine with the fess = OK

I really can't compare it to other exchanges because of some factors.

About verification, well it's really usual today for a centralized exchange to implement KYC. Is it worth? Yes if you really want to take advantage of account limits.

[bitmover]

Bitstamp is the oldest exchange still online, as far as I know

I used it a lot. It's my favorite exchange.

If you are in the USA coinbase is better probably

[traderethereum]

I think you need to choose the exchange by yourself because you can get two possibilities for choosing bitstamp, yes or no. You need to know that how you feel when you trade on bitstamp, is it comfort or not. Then you can choose with a right. Don't just follow the recommendation from us but you need to feel by yourself.

[crairezx20]

I think you need to choose the exchange by yourself because you can get two possibilities for choosing bitstamp, yes or no. You need to know that how you feel when you trade on bitstamp, is it comfort or not. Then you can choose with a right. Don't just follow the recommendation from us but you need to feel by yourself.

He doesn't need to choose between yes or no if he is living in EU countries because this exchange is the oldest exchange alive for how many years and they are still operating until now.


Here is some other information about withdrawal and deposit fees below.

Withdrawal

Code:

Debit Card - $10 - 2%
SEPA - 5%
International Wire Transfer - 0.09% (minimum fee is 15.00 USD/EUR on Bitstamp's end and may incur additional international bank fees)
BTC - Free or 0.1% (BitGo Instant)
XRP - Free
LTC - Free
ETH - Free

Deposit

Code:

Debit Card - $10 - 2%
SEPA - Free
International Wire Transfer - 0.05% (minimum fee = 7.5 USD/EUR, maximum fee = 300 USD/EUR)
BTC - Free
XRP - Free
LTC - Free
ETH - Free

Just added this info and maybe OP will need this to know a bit information about the fees.

[lizardbtc]

If you are in the USA coinbase is better probably

Read my reply above coinbase is not allowed where I live, nor would I trust them with my money.

I think you need to choose the exchange by yourself because you can get two possibilities for choosing bitstamp, yes or no. You need to know that how you feel when you trade on bitstamp, is it comfort or not. Then you can choose with a right. Don't just follow the recommendation from us but you need to feel by yourself.

The point in my opinion is not to register with every single exchange and do KYC with all of them only to experience how it feels to trade there in order to make my mind. As there are already people who traded before me and will in future I guess it is better to learn from others and get their opinions about the situation than to test everything myself.

Here is some other information about withdrawal and deposit fees below.

Read above, I have already linked their fee structure https://www.bitstamp.net/fee_schedule/ !

A lot of Europeans citizens are using Kraken and it works like a charm. Bitstamp is good as well but Kraken is faster with banking transactions. You can receive your payment withdraw within a few hours sometimes. Bitstamp is faster when it's about to verify your account with your ID.

I might look at kraken yeah they are still pretty old exchange as well.


---------------------------------------------------------------------------------------------------------------------------
Yeah anyways still in that "grey zone" undecided now should I go with any major exchange or use LBC well I guess will read more about before making my mind....

Thanks all for your replies!

The major problem I started to see is that I will have to tell from where did I get my funds such as fiat and crypto as it is an extra hustle going back and forth with support etc...