Coinbase and Bitstamp are two of the oldest cryptocurrency exchange platforms in the market. Over time, they have both developed a steeling reputation for themselves. As such, it can be hard to determine which one of these platforms is better suited for an individual.
However, in this article, we’ll compare all the vital features and specifications of the two platforms to determine which is better.
PART 1: Bitstamp VS Coinbase Key Features: What’s the Difference?
Coinbase is an ideal exchange platform for beginners. It comes with a clean and easy user interface and it’s almost similar to PayPal or other similar platforms. You can easily start conducting transactions by depositing fiat currency via credit card or bank transfer, or even PayPal if you’re from the US. Once that’s done, you can easily start making purchases.
Bitstamp, in comparison, may be a well reputed site in Europe, but it isn’t as simple to use as Coinbase. The trading screens in Bitstamp look a lot more technical than Coinbase and as such it’s not ideal for beginners. Furthermore, buying cryptocurrency with fiat currency is also a lot more of a hassle. That’s because in order to deposit fiat currency you need to be verified. The verification process in Bitstamp is pretty complicated, as it includes you submitting a scan of your government ID and your utility statement.
So now that you know that their basic difference arises from a difference in demographic, you can go through the table below to gauge their vital differences.
|Exchange Type||Cryptocurrency Exchange||Easy Cryptocurrency Buy-ing/Selling|
|Fees||0.10% to 0.25%||1.49% to 3.99%|
|Cryptocurrencies Supported||Bitcoin, Ethereum, Litecoin, Ripple||Bitcoin, Ethereum, Litecoin|
|Payment Methods||Bank Transfer, Credit Cards, Cryptocurrency||Bank Transfer, Credit Cards, Cryp-tocurrency|
|Reviews||Bitstamp Review||Coinbase Review|
|Limits||No limits||Up to $50,000/week|
|Check Website||Check now||Check now|
PART 2: Bitstamp VS Coinbase Trading: Which one is better?
Coinbase supports cryptocurrencies Bitcoin, Ethereum, and Litecoin. Meanwhile, Bitstamp supports an additional cryptocurrency: Ripple.
Bitstamp only supports Euros and US Dollars in terms of fiat currency. Coinbase also supports British Pounds.
Bitstamp is most easily available in the US and EU nations, where bank transfers and credit cards are allowed. The rest of the world can also use Bitstamp, but they can only make payments through cards. Coinbase supports 32 countries across the world, including the US and all the EU nations.
Bitstamp is one of the most reasonable trading platforms in the market with a transaction fee of 0.10% to 0.25% depending on the trading amount.
However, the transaction fee varies for deposits and purchases from credit card, wire transfer or SEPA. if you’re making a payment from credit card, the transaction fee can also rise up to 8% if the value is less than $500.
In terms of transaction, Coinbase is a lot more expensive at 1.49% to 3.99%.
Coinbase doesn’t have well defined limits. They differ based on several factors in the account. However, it can go up to $50,000/ week.
Bitstamp doesn’t have any limitations.
PART 4: Bitstamp VS Coinbase Trust: Which one is more reliable?
Both Bitstamp and Coinbase are extremely old sites that were established around the time that cryptocurrency exchange started coming up. Bitstamp was founded in 2011 in Luxembourg and Coinbase was founded in 2012 in the US.
Both of these companies come with massive investors backing. Coinbase has investors in Bank of Tokyo and the New York Stock Exchange. Meanwhile, Bitstamp has investors such as Fortress Investment Group and Pantera Capital.
In terms of popularity, Coinbase is far ahead of Bitstamp, which can be attributed to the fact that Coinbase has global reach whereas Bitstamp is more focused on the European markets. You can check it from Google Trends below:
Coinbase is flawless when it comes to security. Despite having been around since 2012 and being the biggest exchange in the market, it has still never been hacked. It abides by strict US security laws and regulations, and they keep most of their funds in cold offline wallets to prevent damage should there be a hack. Furthermore, all their users are FDIC insured so they’ll receive compensation up to $250,000 in case something happens.
Bitstamp also abides by good security measures. However, they did get hacked in 2015 when they lost 19,000 BTC, which amounted to around $5.1 million. However, they regained the public’s faith by absorbing all the losses and fairly compensating all their users.
Coinbase has unrivaled customer support. Their email support responds within 24 to 48 hours. Furthermore, they’ve also included phone support so that you can also talk to their representatives now.
Bitstamp is also prompt with their customer support. They can only be reached via eMail, however most online commentators are satisfied with the customer support service. However, there are also those who have filed complaints about their accounts being shut down for receiving a high sum of deposits. In those cases, those individuals are fairly compensated.
PART 5: Bitstamp VS Coinbase Conclusion
Both Bitstamp and Coinbase are high-end platforms that have gone through a lot in the world of cryptocurrency exchanges, carving out a niche for themselves along the way. However, which one is better would depend a lot on geography.
Bitstamp is roundly considered to be the best platform in Europe. As such, if you’re from any of the EU nations, you should go for Bitstamp, and if you’re from the US, you should go for Coinbase. Furthermore, if you want to avoid the high transaction fees of Coinbase, you can use Bitstamp for trading purposes.
If you want to explore even more options, you can go through the top 20 cryptocurrency exchange platforms in the market. Whatever you decide to do, please feel free to keep us updated by commenting down below!