Satoshi Nakamoto in the year 2008 came up with the concept of digital currency mainly Bitcoin and since its inception, over the years Cryptocurrency trading has gained much popularity and fame among its users. From different parts of the world, people are engaging in digital trading more and more in numbers and the growth is constant in nature.
There are different companies that are operating from different parts of the world providing Cryptocurrency exchange platform for its users to do smooth trading. Today we take Coinbase and Bitstamp, two of the oldest and most trusted and well-known cryptocurrency exchanges and compare between them in short pointing out the pros and cons of both.
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Coinbase was introduced to the Crypto-market in the year 2012 with its base at California, USA. The company was founded by Brian Armstrong and Fred Ehrsam with zeal to capture a huge amount of traders to its base and prove themselves as one of the best in the industry.
The company is smoothly running its business around the globe for more than five years and currently having more than one million users daily doing business through its platform. The company operates from a website named Coinbase.com.
The company Bitstamp is a cryptocurrency exchange that operates from the location of Luxembourg under Mr Nejc Kodrič as the company’s CEO.
The company came into existence in the year August 2011 with co-founder Damijan Merlak in the country of Slovenia, but the registration was later changed to the United Kingdom in the year April 2013 due to lack of financial as well as legal services available from Slovenia. Like Coinbase, the company also has successfully crossed the five-year mark since its inception and looking healthy and well.
Coinbase generally offers different types of cryptocurrencies such as Bitcoins (BTC), Litecoin (LTC) and Ethereum. The company supports API for both merchants and developers to build on applications and accept payments in digital currency as well. Currently trading with Coinbase is available in 32 countries of the world and 190 countries enjoy the cryptocurrency wallet facility that the company offers to its traders.
Bitstamp like Coinbase also deals in Bitcoin (BTC), Litecoin (LTC), Ripple (XRP) and Ethereum (ETH). The company is planning to add new pairs in the coming days. Bitstamp is available throughout the globe for cryptocurrency trading starting from Hong Kong, China, South Africa to Brazil, Argentina, Dominican Republic, South Korea and many more.
Methods for Buying and Selling
Coinbase generally supports Credit card, Bank transfer, Debit card, Cryptocurrency for both buying and selling through its platform. Paypal is another option by which one can sell or withdraw funds from Coinbase.
Bank Transfer, Cryptocurrency and Credit Card are the three options by which one can do trading in Bitstamp platform around the globe. Unlike Coinbase Debit card option is not available.
In terms of fees, the company Coinbase charges around 3.99% fee for purchases that are done through cards (debit and credit). 1.49% fee is charged for Cryptocurrency purchase made through a bank account or using wallets. The additional network transaction fee is charged by the company while a customer is doing the transaction.
Bitstamp charges zero transfer fees when one is depositing Euros through SEPA. The company charges 0.05% fees and 0.095 withdrawal fees from its traders using its platform. Deposit or withdrawal of Cryptocurrency directly attacks zero fees which can be considered as one of the unique futures that Bitstamp possesses. An 8% charge is attracted when one does a deposit with a credit card.
Safety and Security System
There has been no news of hacking as far as the Coinbase’s reputation is concerned. The company imposes strong and tight security system to safeguard the customer’s fund. The cryptocurrency is locked in the cold storage of the company avoiding any security lapses as such. Thus all in all the company earns a good name when it comes to safety and security of the trade.
In terms of safety measures and security Bitstamp is no less to that of Coinbase. The company has a decent history in terms of safeguarding the customer’s property. Though there has been news in the past about the security breach of the company, the company took the blame on their own shoulder and since then has maintained a clean chit.
Customer Support and User’s Review
Both companies provide a good customer support system to its users. Both the esteem companies have email, telephone and ticket system support to make the support system more active and user-friendly to its customers. They both claim and possesses a good turn around time to customer’s complains and grievances which is always encouraging for traders who are associated with these companies globally.
Coinbase and Bitstamp have both got good reviews from their customers around the world. Due to their user-friendly trading programme and good customer supported added by security and trading platform both the companies are now considered to be one of the best in the business and these reviews are always treated as an asset for both Coinbase and Bitstamp with each passing years.
Coinbase and Bitstamp are very much unique in terms of their trading policy and skills along with what they offer to customers. Both of them have pros and cons but still manage to earn a good repute amongst the cryptocurrency traders.
Coinbase and Bitstamp are both upper-tier exchanges in the cryptocurrency world and will simply come down to whether one is intending to invest in USD or in Euros. If the choice is USD then either exchange is a good option, but Coinbase will gain more preference since it has its base in the US. If contributing with Euros then Bitstamp will gain more priority.
Coming to the conclusion, it is the choice and requirement of traders that would decide which portal is better than the other, but if one tries to dig out the superiority among the two, then the balance remains pretty much even.