Bitstamp Bitcoin Exchange Review
When going through the sign-up process just like other exchanges they get you onto the dashboard as soon as possible to begin showcasing all the amazing features they’ve baked in. Many exchanges (like Kraken) focus on simple design, and others (like Gemini) focus on analytics/data.
Bitstamp has mastered simplicity through data visualization, and it is beautiful.
It starts with a broad overview of the Bitcoin market cap, ranges, prices, and total 24h volume. With a whopping 32,757 BTC in daily volume or roughly $10,000,000 USD Bitstamp has locked its position as the top dog.
Once you’re on the main dashboard check out the “Show Order Book”( at the top right corner.) For an exchange as large as Bitstamp this is an impressive amount of data.
For data nerds similar to myself, this type of large order book is similar to a kid to Disney World. Watching the transactions of a $10M a day Bitcoin engine is like watching the engine of an aircraft carrier, except much more high tech/cool.
You can scroll through the pages upon pages of successful transactions taking place all over the world in real time.
Jumping back to the main dashboard you can scroll down from the overview and find more trades, the order book, and most importantly news.
Everyone wants to know what is happening in the world of Bitcoin so they feel as though they have the edge. After Mt. Gox exploded in the face of thousands of investors worldwide news feeds are a must have to make everyone feel like they are “in the know.”
Gemini has a similar news feed to help investors know exactly what is going on 24/7/365.
The one con to Bitstamp is the number of currencies provided. I am a fan of altcoins and I feel that exchanges should provide the larger ones. It isn’t vital to the exchanges health as a business but I personally enjoy diversifying investments past Bitcoin.
As an investor, I always look for the deposit and withdraw tabs to make sure that the liquidity is there on exchanges of all sizes. Bitstamp has great options for secure deposits.
I love reviewing exchanges for many reasons, but I am always fascinated by the different ways they visualize the market data.
The Bitstamp “Tradeview” is one that jumps past many exchanges by large lengths. Including custom indicators and tools, the Bitstamp team has done a great job isolating extremely complex data from their simple dashboard.
Many people are intimidated by trading because the data is overwhelming, and others can’t get enough historical data to make decisions.
The benefit of Bitcoin trading (in my opinion) is the currency is wildly volatile and its extremely hard to predict. So simple data is the best to get the ball rolling with newer investors.
All of these previous screens can be viewed BEFORE verifying your identity which, as I said before, is a huge win for exchanges. If they can get you browsing the exchange quickly they will win investors.
Check out this video on Bitstamp Account Verification Explained.
In summary, Bitstamp hold the title for a reason. They have mastered their simple dashboards, their news feed, mobile, and liquidity.
Bravo Bitstamp team.