Is there any reason to use Bitstamp?
They were the most trustworthy exchange back in the day and in a way still are, but I’ll never use them again.
Overly zealous KYC, poor selection of trading pairs & ridiculous trading rules/fees .. a combo of CDC, Binance & Coinbase beat these guys in all ways
I had £12 worth of BTC left on Bitstamp, they wouldn’t let me trade it for anything as it’s ‘too low’ so only option was to withdraw to another exchange. Bitstamp charged me £10 for the withdrawal so I ended up with £2 worth of BTC. What a waste of time.
They’ve managed to preserve their on/off fiat ramps and they are probably more financially stable than other exchanges …
Just get rid of them this year. Finally.
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Based upon my experience of dealing with Bitstamp – I would go one step further and actively discourage people from using them.
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I was really happy with Bitstamp up to their failure to implement ETH unstaking. We were all told that at the end of May the process for unstaking would start, but we’ve heard no update or expected timeline. If you want staking / unstaking then you might look elsewhere until Bitstamp improve.
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As an American user, I try to avoid foreign exchanges, banks or financial institutions due to regulatory requirements when it comes to even reporting our assets/accounts to multiple U.S. government agencies (there are thresholds that one’s account must meet for such reports).
I use Bitstamp because they are part of a handful of exchanges that allow trading a particular token that I want directly through their platform, and their fees are not outrageous. Ebenfalls, a few simple supports that I’ve needed so far, they’ve done a decent job helping me getting things sorted out.
What I don’t like is that as a U.S. resident, I have to provide PII for their KYC, and since they are not under the U.S. jurisdictions (Vereinigtes Königreich), If my private data is compromised, I’m not sure how it’ll play out for me.
I’ve kept them as one of many of backup exchanges that I might have to resort to in case things get icy here in the U.S..
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