Bitstamp vs. Coinbase: Which Should You Choose?
|Bank Account Purchase||N/A||1.49%|
Withdrawals: 4 EUR
|Deposits and Withdrawals: 0.15 EUR|
|Wire Transfer||Deposits: 0.05% or $7.50 minimum
Withdrawals: 0.1% or $25 minimum
|Crypto Conversion||Varies by currency||Up to 2% spread|
|Trades||0% to 0.50% based on 30-day trading volume, plus an undisclosed spread||Up to 0.50% spread, plus a variable or fixed fee of $0.99 to $2.99 or variable fee, based on amount and payment method|
Bitstamp vs. Coinbase: Ease of Use
Bitstamp and Coinbase are web-based platforms offering mobile apps. The initial account signup and verification processes are similar. Moreover, each makes it easy to buy or sell crypto through their exchange by offering simple website or app navigational tools. However, Coinbase is better for beginners. It provides an array of instructional materials and guides. Its knowledge base and FAQs are comprehensive and cover nearly every topic a new investor would want to learn about.
In contrast, Bitstamp provides a basic FAQ section to help users navigate website functions but doesn’t offer a complete database. Plus, some of the advanced features may be unfamiliar to new users, making it harder to know which transaction type to select.
However, Bitstamp earns a slightly higher rating, as customer service is more responsive than Coinbase. Neither service offers customer support by telephone, but you can contact the companies through email, or Twitter for Coinbase users.
Bitstamp vs. Coinbase: Mobile App
Bitstamp and Coinbase provide mobile apps for Android and iOS users. The Bitstamp app offers complete trading functionality, including four order types, analytical tools, and real-time charts through Tradeview. Users can also view their crypto holds and trade right from the mobile app.
The Coinbase crypto app features a clean dashboard where investors can get automatic price alerts, view portfolio value, and buy crypto on the exchange. Both mobile apps receive high ratings for ease of use, but advanced users will find more features on the Bitstamp app.
Bitstamp vs. Coinbase: Access
Bitstamp and Coinbase operate in about or over 100 countries. While Bitstamp may work in all 50 states, Coinbase isn’t available to Hawaii users. In addition, U.S. residents can’t stake coins on Bitstamp, whereas they have access to most functions, including staking, on the Coinbase exchange.
U.S. residents using Bitstamp can’t buy Ripple (XRP), while New Yorkers using Coinbase can’t buy the following coins using fiat currency:
- 1Inch (1INCH)
- Celo (CGLD)
- Chiliz (CHZ)
- Cartesi (CTSI)
- Dash (DASH)
- Enjin Coin (ENJ)
- Eos (EOS)
- Ampleforth (FORTH)
- Game.com (GTC)
- Augur (REP)
- Shiba Inu (SHIB)
- Tellor (TRB)
- Tether (USDT)
- Tezos (XTZ)
Coinbase and Bitstamp are well-known, trusted cryptocurrency exchanges used by people across the globe. Both offer hot wallets, mobile apps, and store 98% of account funds in cold storage. However, Coinbase is a great fit for beginners and provides an advanced platform for active traders, whereas Bitstamp works for mature investors but may confuse people new to trading.
For many users, Coinbase is the better option. The beginner platform does have high fees, but it’s easy to trade crypto, stake coins, and earn rewards. Plus, when users are ready to move into advanced trading, the Coinbase Pro platform offers a fee schedule similar to Bitstamp’s while still giving users access to perks like the crypto Visa card.
Frequently Asked Questions
What Are Bitstamp and Coinbase?
Bitstamp and Coinbase are centralized cryptocurrency exchange platforms where users go to buy and sell cryptocurrency. Investors can view market prices, deposit fiat funds, and access their accounts through a web browser or mobile app.
Additionally, Coinbase users may take advantage of rewards features to earn crypto, stake cryptocurrencies, or earn interest on certain stablecoins. The company also offers a Visa debit card, allowing investors to spend crypto at millions of online and retail locations worldwide.
How Do Bitstamp and Coinbase Work?
Both platforms are centralized exchanges, meaning they verify accounts and transactions on behalf of investors. Users deposit fiat funds into Bitstamp and Coinbase hot wallets, which means the exchanges have more control over your assets than traders have when using decentralized exchanges.
Bitstamp and Coinbase support funding types like ACH, credit or debit card, and wire transfer. However, Coinbase offers much more information about getting started with trading, their security levels, and their features.
Can You Transfer Crypto From Bitstamp to Coinbase?
Yes, investors can transfer crypto from Bitstamp to Coinbase. Simply select “Withdrawal” from the main menu, enter your Coinbase wallet address, and choose the amount to send. Find your Coinbase wallet address by logging into your Coinbase account and tapping the “Receive” button. From there, you can choose your cryptocurrency type and view the address and quick response (QR) code.
Who Should Use Bitstamp vs. Coinbase?
People new to investing or cryptocurrency should start with Coinbase, as it’s convenient and straightforward. The platform rewards users for learning about crypto and offers basic transaction types. Furthermore, once a beginner learns their way around, they can move up to the advanced Coinbase Pro platform for more features, such as advanced trading options and lower fees.
On the other hand, Bitstamp is good for active traders and not as suitable for new investors. It offers several transaction types that require investing experience and doesn’t offer a large database of instructional guides and tutorials.
We reviewed Bitstamp and Coinbase by checking out features offered on both platforms, including unique offerings, and assessing accessibility for U.S. and international traders. We looked at the overall number of cryptocurrencies, stablecoins, and fiat currencies supported; the amount and types of fees; and security levels. Moreover, we checked out the mobile apps and web-based exchanges to evaluate each one for ease of use and functionality.