Are you confused between Bitstamp and Coinbase? Don’t worry; we got your back. After in-depth research, we have come up with this comparison in the easiest possible way. We would be focussing on all the features the platforms have to offer while comparing them with each other. So, read on this Bitstamp vs Coinbase review to know more.
Table of Contents
What is Bitstamp?
Bitstamp is an international cryptocurrency exchange platform. Furthermore, it is a bitcoin exchange that is accessible to the U.S. and international investors be it individuals or businesses. However, it accepts FIAT deposits when it is authorized from the Single Euro Payments Area. Moreover, this helps in transferring the cash among European bank accounts. It was founded in 2011, and the company is registered in the UK and located in Luxembourg, London, Slovenia, and New York City. To learn more, read the Bitstamp review.
What is Coinbase?
Coinbase is also known as Coinbase Global, Inc., an American-based public company that deals in cryptocurrency. It was founded in 2012 by Brian Armstrong and Fred Ehrsam. The company serves over 100 countries remotely on a global level. Though initially, the company only traded in bitcoins, now it has added other cryptocurrencies. The company deals with both retail and institutional investors. To learn more, read the Coinbase review.
Furthermore, Bitstamp and Coinbase can prove to be good Binance alternatives. Since Binance has been facing recent regulatory issues these platforms can provide you a place to trade without any issues. To learn more, read Best Binance Alternatives: Is Binance Going Down?
Bitstamp vs Coinbase: Products
The image below shows how many different kinds of products are available for users, be it individuals, businesses, and developers. The website offers more than 20 products to its users. Some products including, Coinbase wallet, Coinbase Staking, Coinbase Pro, Coinbase Card, and Coinbase custody are few crucial and mostly likable products. You can check out the rest of the products available from the below image.
Bitstamp offers mainly two products that are mobile app and trade view. Check out the image given below.
Bitstamp vs Coinbase: Features
Features of Bitstamp
- It’s a savior of both time and money as the transaction process is fast and straightforward. As a result, one can begin their journey of crypto trading by simply using their credit card. Thus, eliminating the time-consuming process of depositing FIAT.
- They have enabled the Application program interface (APIs), which helps you plan your program that best fits your business needs. As a result, they allow you to have a very smooth and easy work operation.
- The safety features enable secure transactions of the users. For example, they allow you to have a selected list of people you exchange currencies with, thus saving you from frauds and hackers. This is also known as whitelisting.
- They also save you from the stress of whether the transaction was successful or not by keeping you updated through emails, apps, and texts.
- In addition, they keep your digital data safe through the unique feature of PGP that is Pretty Good Privacy. Your information remains encrypted through the unique PGP code.
Features of Coinbase
- This platform for trading is available for almost all states in the U.S., excluding Hawaii.
- Users can deposit the crypto in two ways that is either by US dollars or through crypto-to-crypto transactions.
- It’s a begineer friendly cryptocurrency exchange.
- Coinbase primarily deals in liquid assets; hence this saves the users from fluctuations in the market.
- The two percent assets that are in hotwallets are insured, as the rest are protected offline cold storage wallets.
Bitstamp vs Coinbase: Fees
Bitstamp has a series of fees structure that varies with the 30-day volume trading. The more the trading volume, the less the charges will be. Credit and debit card investors will pay 5% at Bitstamp.
If we look at the fees structure of Coinbase, it is a bit complicated. The fees for Coinbase are comparatively higher than Bitstamp. However, the pro feature of Coinbase allows for a fees structure that is similar to Bitstamp. The investors either pay a fixed rate or variable rates depending upon the method of their funding. The prices may vary up to 0.50%. Credit and debit card investors will pay 3.99% on Coinbase.
ACH transactions are accessible on both currencies. Undoubtedly, the best way to save yourself from fees. However, if the investors pay through crypto, then for Bitstamp, it varies from currency to money. In addition for Coinbase, it goes by 2%.
You can also read about Coinbase Fees: Cheapest Exchange in the USA?
Bitstamp vs Coinbase: Cryptocurrencies
Both Bitstamp and Coinbase support currencies like EUR, GBP, CAD, SGD, USDT, BTC, COMP, LTC, XLM, AAVE, ALGO, GRT, and UNI. Besides these common currencies, Bitstamp also supports coins like LINK, MKR, Paxos, PAX, GUSB, AUDIO, and ETH2.
Moreover, Coinbase also supports currencies that can not be found in Bitstamp. Currencies like USD, 1INCH, ANKR, BAND, ADA, ATOM, DASH, DOGE, ETC, LOOM, DOT, STORJ, and SUSHI.
Bitstamp vs Coinbase: Mobile App
Bitstamp and Coinbase offer mobile app services. Anyone with access to the internet and smartphone can download it on Android and iOS and start trading. However, both of these apps showcase different features for the benefit of the users.
Bitstamp Mobile App
- They have a technically advanced functionality of trading.
- They offer a few modern and active analytics tools that help in the better understanding of the trading.
- Just with the help of the app on the phone, the traders can view their real-time charts.
- Download the App on both Android and iOS devices.
Coinbase Mobile app
- They offer a dashboard on the app that helps the investors understand their portfolio of trading.
- The app has features of reminders and alerts too.
- Download the App on both Android and iOS devices.
Bitstamp vs Coinbase: Security
- Both Bitstamp and Coinbase abide by the U.S. rules and regulations.
- They follow the KYC (know your customer), the Bitstamp two-factor authentication, Coinbase two-factor authentication, and other self-signature procedures.
- They store only 2% of assets in hotwallets and keep the rest 98% in offline protection. However, 2% of online purchases subjected to fluctuations in the market are insured from fraud.
- The money deposited on the platforms is insured by The Federal Deposit Insurance Corporation (FDIC).
Detailed information is provided on the security policies and measures of Coinbase on its website.
On the other hand, Bitstamp provides its knowledge that, on the one hand, through a column of frequently asked questions.
Bitstamp vs Coinbase: Ease of Use
Both cryptocurrency exchange platforms offer a very comfortable zone of use for their investors. Plus, both of them make trading easy through their mobile applications.
On the one hand, Coinbase is a beginner-friendly application, while Bitstamp can be complicated for newcomers. However, Bitstamp does offer a FAQ guide section to help its users.
Bitstamp has highly advanced features that can confuse consumers who are not well versed with its features. While Coinbase provides an excellent informative guide and FAQ covering almost all queries, the features and tools are simple and easy to understand.
If you look at the rating scale, then Bitstamp wins here because of its responsive customer care providers.
Bitstamp vs Coinbase: Conclusion
After an in-depth search and analysis of both the currencies, we conclude that both the platforms are trustworthy. If you look at their security policies, app features, ease of use, and various coins that they offer to their investors, they have many similarities. The only difference here is what kind of investor you are? If you are a beginner, you may opt for Coinbase, while if you have some experience in investing, you may seek Bitstamp. You can even go for both to analyze and choose the best that perfectly suits your needs.
Frequently Asked Questions (FAQ)
Is Bitstamp better than Coinbase?
Both crypto exchanges offer almost the same level of security to their users. If the fee is your constraint, then Bitstamp is a better choice. However, suppose you are a beginner in investing. In that case, Coinbase is a better option, though this can get expensive when it comes to fees. However, Coinbase offers a comprehensive and informative guide to trading.
Is Bitstamp same as Coinbase?
However, you will find many similarities between Bitstamp and Coinbase; Bitstamp is a cryptocurrency that allows fiat pair trading and coin exchanges. At the same time, Coinbase allows its investors for fiat trading through itself.
Is Bitstamp safe?
Yes, Bitstamp is safe and offers an informative FAQ on its official website regarding its security policies. In addition, they follow all the rules and regulations set by the U.S. authorities and maintain the KYC, two-factor authentication, and self-authorized signatures. As a result, 98% of the investment is kept safely offline, and the rest, 2%, which is online, is secured from theft and frauds by insurance.
How much does Bitstamp charge per transaction?
Bitstamp charges 0.1% as its minimum fees per transaction. The charges may vary considering the mode of transaction and your bank.
Is Bitstamp a wallet?
Bitstamp is a cryptocurrency exchange, but it can be used as a hot and cold wallet.
How long does it take to withdraw from coinbase?
To withdraw cash from coinbase via SEPA will take 1-2 business days. While if you start via wire, the transaction completes within a day.
How to trade on Bitstamp?
Register yourself and create the proper account, and get verified. Then, purchase using a credit card and debit card, and you have your Bitstamp trading started.