Both Bitstamp and Coinbase have been on the crypto exchange market for more than 7 years, making their teams some of the most experienced out there.
This Bitstamp vs Coinbase review will go over both platform’s strong and weak points, helping you decide which exchange better suits your needs.
|Buy/Deposit Methods||Bank Transfer, Credit/Debit Card, Cryptocurrency||Bank Transfer, Cryptocurrency|
|Sell/Withdraw Methods||Bank Transfer, Credit/Debit Card, Cryptocurrency||Bank Transfer, Cryptocurrency|
|Available Cryptocurrencies||5 – Ripple, Bitcoin, Ethereum, Bitcoin Cash, and Litecoin||28, including Ripple, Bitcoin, and Ethereum|
Released in 2011, Bitstamp is the child project of Nejc Kodric and Damian Mertek. Upon release, its goal was to compete with Mt. Gox, who was the leader at the time on the crypto exchange market.
Since then, Bitstamp positioned itself as the top European crypto exchange, serving as the main platform for numerous beginning and expert investors. Read the full Bitstamp Review on XRPNow.
Coinbase is both a top crypto exchange as well as a well-known crypto wallet
Founded in 2012, the primary goal of Coinbase is to facilitate an easy-to-use platform for crypto enthusiasts. It currently operates as an exchange in over 100 countries, supporting 28 cryptocurrencies including Ripple, Bitcoin, Bitcoin Cash, and Ethereum. Read The full Coinbase Review on XRPNow.
Bitstamp vs Coinbase – Getting started
Coinbase is probably one of the easiest-to-use crypto platforms, and this can be clearly observed from the moment you decide to sign up on their platform.
The registration process is one of the fastest I ever encountered, with a user needing only a few minutes to create an account, make a deposit, and start trading. Registering and verifying your account takes less than one minute, and their support of debit/credit cards and PayPal makes it easy to transfer money into your account.
The Coinbase exchange account can be easily linked to your Coinbase crypto wallet, allowing you to quickly transfer funds if you already own BTC, ETH, or other cryptocurrencies.
Bitstamp’s registration process, on the other hand, can be a little complicated. Before you are allowed to start trading, you need to verify your identity using front and back photos of a government-issued ID as well as a bank or utility statement, besides the regular personal information.
But once you sign up, making a deposit is as easy as on Coinbase. Bitstamp also supports credit and debit card payments, so you can easily transfer money into your Bitstamp account and start trading.
Bitstamp vs Coinbase – Trading
When it comes to trading, both Bitstamp and Coinbase provide regular trading options, such as:
The primary approach of these platforms is to provide limited trading options that work very well and give the user more control and confidence in their actions.
However, in addition to the basic trading options mentioned above, Coinbase also provides futures trading. Futures contracts allow you to buy or sell a currency at a predetermined price, in the near or distant future.
This is a great tool for market speculators since it allows them to capitalize on market growths or crashes.
Coinbase has a very user-friendly user interface, similar to that of PayPal or online payment services. Bitstamp, on the other hand, can be a little intimidating to new users with its candlestick charts and advanced graphs.
But once you get used to it, Bitstamp works just as great as Coinbase, and you may find the graphs and charts to be more useful than intimidating.
Bitstamp vs Coinbase – Trading Fees
Generally, trading fees are what convinces people to move from one platform to another.
Bitstamp has a variable fee system, that charges based on a user’s 30-day trading volume.
For a 30-day trading volume below $10,000, Bitstamp charges a 0.50% fee for all trading pairs. As the volume grows, the fee decreases, going as low as 0% for volumes of more than $10,000,000,000.
This comes as a great service for crypto whales and businesses, as it allows them to minimize their transaction costs.
In comparison, Coinbase focuses on smaller trades. The platform charges a spread fee of around 0.50% of the traded value, as well as a fee based on the value of the transaction and a region fee:
- $0.99 for transactions below or equal to $10;
- $1.49 for transactions between $10 and $25;
- $1.99 for transactions between $25 and $50;
- $2,99 for transactions between $50 and $200.
The region fee varies between $0 (in)/$0.15 (out) for SEPA bank transfers from Europe to 3.99% for credit and debit card payments.
For fiat fees, deposits on Bitstamp are generally free of charge, charging only a 0.05% deposit fee for international wire transfers.
For withdrawals, Bitstamp has the following fees:
- 3.00 EUR for SEPA withdrawals;
- 0.1% for international wire transfers.
When it comes to credit card transactions, Bitstamp has a 5% fee no matter the amount, with additional fees (possibly) being applied by the user’s bank.
All in all, Bitstamp’s variable fee system is more competitive, as it allows major traders to benefit from 0% fees. With Coinbase focusing mainly on smaller transactions, their fee system makes sense, as it doesn’t require users to constantly make trades in order to benefit from lower fees.
Bitstamp vs Coinbase – Available currencies
In terms of available cryptocurrencies, Bitstamp accepts 5:
- Ripple (XRP);
- Bitcoin (BTC);
- Bitcoin Cash (BCH);
- Ethereum (ETH);
- Litecoin (LTC).
Coinbase goes a little further than that, supporting 28 cryptocurrencies, some of which are:
- Ripple (XRP);
- Bitcoin (BTC);
- Bitcoin Cash (BCH);
- Ethereum (ETH)
- Ethereum Classic (ETC);
- DASH (DASH);
- Litecoin (LTC).
When it comes to fiat currencies, both Bitstamp and Coinbase accept Euro (EUR) and US Dollar (USD).
Bitstamp vs Coinbase – Security
Another crucial aspect of a crypto exchange is the security it provides to its users.
Bitstamp and Coinbase both comply with KYC and AML procedures, requiring users to verify their identity before allowing them to fully use the platform and make large trades.
Coinbase has never been the target of a hacker attack, with them putting a great effort into security measures. Most of the assets are stored in cold wallets. However, one notable incident with Coinbase Pro (known as GDAX) took place in 2018, when the price of Ethereum temporarily dropped the cryptocurrency’s price from $100 to $13.
While Coinbase remains untouched by hackers, Bitstamp suffered a more serious attack in January 2015.
19,000 BTC were stolen from the platform’s wallets, causing damages of more than $5,000,000. During this event, the platform displayed excellent customer care, deciding to pay back all their customers from the company profit.
This turned numerous Bitstamp users into loyal customers, proving that Bitstamp is here to stay.
Following the attack, Bitstamp decided to rebuild its entire platform, putting more emphasis on security in order to gain back the trust of its users.
Another noteworthy thing about Bitstamp is that it became the world’s first nationally-licensed crypto exchange in July 2016.
Bitstamp vs Coinbase – Availability
Bitstamp is available in 50 countries around the world, including Australia, Brazil, China, and the United States, as well as in Europe’s 28 member states.
Coinbase has a wider availability, being accessible from 100 countries around the world, including all of Europe, North America, and South America, as well as various states from Africa, Asia, and Australia.
Bitstamp vs Coinbase – Customer Support
In terms of customer support, Bitstamp allows its users to contact them via email tickets submitted through the website. The response time ranges from 24 to 72 hours, but in case of a more serious issue, Bitstamp also provides its users with an emergency number that is available 24/7.
For more basic support, Coinbase created a chatbot on its website, which can help users with various answers about account creation or management. In addition, they also provide an email ticket support system, with their response time being a little faster than that of Bitstamp - between 24 and 48 hours. Coinbase also recently added a phone customer support line, allowing its users to have a chat with one of their specialists and get help faster with their issue.
So who takes the win in the Bitstamp vs Coinbase debate?
That’s a difficult question to answer, and it greatly depends on what type of crypto exchange platform you are looking for.
Coinbase is more beginner-friendly, has more available cryptocurrencies and crypto trading pairs, and is more accessible on a global level. However, their fees are a bit higher than those of Bitstamp, which may drive away crypto whales and major traders.
The decision may also depend on whether you are an EU or US citizen. For EU citizens, Bitstamp’s fees are pretty low (and sometimes non-existent), while for US citizens Coinbase might be the more cost-effective choice.
Both platforms provide great customer support, and while Coinbase might respond a bit faster, Bitstamp definitely proved excellent customer care following their 2015 attack.