Bitstamp and Coinbase are two of the largest cryptocurrency exchanges in the world. Each allows their users to buy, hold and sell cryptocurrencies as well as offering a broad range of additional applications, such as staking crypto to earn interest on cryptocurrency holdings. Both exchanges are regulated. Bitstamp is based in the European Union and is one of the oldest cryptocurrency exchanges in the world as it started trading in 2011. The US-based Coinbase began selling cryptocurrency in 2012.
Bitstamp and Coinbase are two of the five exchanges – alongside Gemini, itBit and Kraken – that provide data to create the Bitcoin Reference Rate, which is used by professional derivatives exchanges such as CME Group for its Bitcoin futures products. As such, both are well-regarded in the industry.
One of the main differences between Bitstamp and Coinbase is the range of cryptocurrencies they each allow people to trade. As of 19 May 2021, Bitstamp only allows trading in 23 cryptocurrencies and stablecoins, while Coinbase offers users 63 coins to buy and sell.
Coinbase is much easier for beginners to use than Bitstamp. Bitstamp is aimed at more professional traders, while the set-up of Coinbase will be familiar to anyone who has used an online banking app.
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At a glance
Bitstamp
Coinbase
Location
Luxembourg
United States
Supports fiat currencies?
USD, EUR, GBP
USD, EUR, GBP, CAD, MXN, HRK, CZK, DKK, CLP, BGN
Range of supported cryptocurrencies
77 cryptocurrencies
239 cryptocurrencies
Features
Instant buy
Staking
High liquidity
You can deposit crypto free of charge
SEPA deposits are free for EU users
Instant buy
Recurring buy
Coinbase Wallet
Coinbase Earn
Staking
Fees
Up to $10,000 per month: 0.5%
Up to $20,000 per month: 0.25%
Up to $100,000 per month: 0.24%
US$10 or less: $0.99
US$10 to US$25: $1.49
US$25 to US$50: $1.99
US$50 to US$200: $2.99
Crypto-to-crypto: 2%
Customer support
Online help centre, email and social media
Online help centre, email and social media
User interface
Intermediate
Differing set-up for beginner and professional traders
You can set limit orders for buying crypto at market
Simplified app for iOS and Android users
Beginner
Many currencies and deposit methods are available
User-friendly interface
Fast and simple crypto buy and sell
Access to sophisticated platform Coinbase Pro, available with the same account
Set up recurring buy for regular purchases
Set-up for new users
New users must provide the following:
Email address
Proof of ID
New users must provide the following:
Email address
Proof of ID
Selfie” photo with current date for verification
Supported countries
Global (some US states may have to provide additional verification)
Global
Learn more
Features
Bitstamp
Instant buy: Buy crypto instantly with a credit card.
Staking: Use Bitstamp Earn to gain interest on your crypto funds.
Trade live: Use the order book to see what prices others are paying.
Coinbase
Recurring buy: Automate your regular crypto purchases.
Coinbase Wallet: Get a free hosting wallet to spend the coins you buy.
Coinbase Earn: Get free coins for watching videos and learning about crypto.
Staking: Earn annual interest on your crypto holdings.
Convert: Swap crypto instantly without having to buy and sell.
Instant buy: Buy crypto with a debit card.
Supported cryptocurrencies and fiat
Bitstamp
Supported fiat currencies:
USD, EUR, GBP
Supported cryptocurrencies:
Approximately 77 cryptocurrencies
Supported cryptocurrencies:
Approximately 239 cryptocurrencies
Supported cryptocurrencies include:
BTC
ETH
XRP
BCH
EOS
FET
LTC
ADA
XLM
DASH
GNO
MTL
TRAC
CRPT
REN
AST
DNT
MLN
DAI
SWFTC
VET
USDT
ETC
ZEC
ZRX
REP
MKR
DOGE
SNT
BAT
PRO
STX
AMP
MUSE
MDT
NMR
NCT
TIME
PLU
AVT
LRC
POLY
KNC
ELA
BNT
MONA
LINK
POWR
MANA
RLC
COVAL
DOT
DAR
XCN
ATOM
CTX
IMX
GMT
UNI
SUPER
REQ
CVC
STORJ
QSP
GTC
ZEN
ANT
ENJ
BLZ
ABT
XTZ
XYO
PAX
KRL
SHPING
FOX
GST
USDC
GUSD
IOTX
*Availability varies by location
Trading Fees
Bitstamp
Like other cryptocurrency exchanges, Bitstamp charges a fee every time users buy or sell cryptocurrency. These fees depend entirely on how much you trade in every 30-day period and are calculated in US dollars. The higher the value of your trades, the less you will pay in fees.
For most casual users, the fee is 0.5%. Bitstamp charges this to anyone who trades between $0 and $10,000 per month. More frequent traders will see their fees decline substantially. For example, anyone who trades more up to $100,000 a month pays 0.24% per trade.
A full list of charges is available on the Bitstamp website. Specific extra fees may apply. For example, as of 12 May 2021, Bitstamp charges a 0.02 ETH fee to withdraw ETH from the exchange. For those buying crypto directly with a credit card, be prepared to pay a 5% service fee on top of any fees charged by your card provider.
Coinbase
Coinbase also offers a sliding scale trading fee structure. On top of a 0.5% fee for buying and selling crypto, users pay either a flat fee per trade, or a variable fee based on the region and payment type used, whichever is the higher of the two.
In general for transactions between $10 and $200, the flat fee ranges from $0.99 to $2.99 per trade.
Converting crypto-to-crypto comes with a 2% fee, although this amount can change slightly depending on the price difference between the two cryptocurrencies at the time of conversion.
Payment methods
Bitstamp
Bank transfer
Credit card
Cryptocurrency
Debit card
SEPA
Faster Payments (FPS)
Coinbase
Bank transfer (ACH)
Debit card
PayPal
Wire transfer
Apple Pay
Google Pay
Volume
According to Coinmarketcap.com, Coinbase is the third-largest cryptocurrency exchange in the world, with a 24-hour trading volume of over US$9 billion as of 21 May 2021. Bitstamp is much smaller, with around US$1 billion changing hands every 24 hours, but it still ranks in the top 10 largest cryptocurrency exchanges.
Bitstamp claims that it has around 4 million users at last count, while Coinbase is much bigger, with 43 million total users as of May 2021, and around 2.8 million people actively trading on the exchange every month.
Security
Bitstamp requires users to provide ID verification in the form of a driver’s licence or passport, as well as proof of residency such as a utility bill or bank statement, in order to start trading.
Coinbase asks users to upload pictures of the same kind of ID documents (a passport, driver’s licence or other government-approved ID), as well as taking and uploading a “selfie” photo of their face before they can open an account. Coinbase may also request that users verify their identity from time to time after they have opened their account.
Both Bitstamp and Coinbase offer two-factor authentication (2FA) for an extra layer of security when logging in.
In terms of how funds are stored, Bitstamp says that it holds only a very small proportion of cryptocurrencies in its “hot” (online) wallet and that it is secured using multi-signature technology to stop hackers from gaining access to user funds. It also says that the vast majority of coins are held in a “cold” (offline) wallet, although it does not give a percentage figure for this.
Coinbase reports that 98% of customer cryptocurrency funds are stored offline in cold storage, and the other 2% that is held in online storage is insured, so that if it were ever breached by thieves, customers would be able to get their stolen cryptocurrency reimbursed.
Bitstamp does not offer a free cryptocurrency wallet, so users have to connect their own external wallet to the exchange to trade and use the service.
Coinbase, by contrast, does offer a free hosted wallet service as part of its basic free package for everyday users.
Of the two exchanges, only Bitstamp has been hacked. In 2015, hackers managed to access Bitstamp’s hot wallet and steal 19,000 BTC. At the time, they were worth around US$5 million. Today the same amount would be worth US$774 million! Coinbase has never been compromised by hackers.
Regulation
Bitstamp is regulated in Luxembourg and holds a licence under EU law to act as a payment institution. This gives it the right to do business in all 27 EU member states. Because of Brexit, and the UK leaving the EU, Bitstamp has been temporarily registered in the UK as a cryptoasset business until 9 July 2021, while it waits for its application to the UK Financial Conduct Authority to be approved.
Coinbase is headquartered in San Francisco in the US and is registered as a money services business with the United States regulator FinCEN. This means that it has to follow a set of guidelines and laws around protecting consumers, and keep a record of customer IDs. Coinbase is also authorised to issue e-money in the UK by the Financial Conduct Authority.
Verdict: Should you use Bistamp or Coinbase?
Bitstamp
Bitstamp’s user interface may be confusing for first-timers, but it has a lot of functionality under the hood for more experienced traders.
Its fees are demonstrably lower than on Coinbase. Some might be put off by its uncertain regulatory status, and it is more suited to sophisticated or high-value traders than the average cryptocurrency buyer.
Coinbase
Coinbase offers more features than Bitstamp, is easier to use for beginners, offers a wider variety of coins to trade, and also offers a free hosted wallet to everyone who signs up. So it has lots of things going for it. That said, the fees that Coinbase charges are much higher than Bitstamp and can quickly add up if users are doing a lot of trading.
Coinbase is also now a public company, having listed on the NASDAQ stock exchange on 14 April 2021, so it has to be transparent with its finances, its regulatory status and its ownership.
All in all, Coinbase is a solid choice for beginners and casual users dipping their toe into the crypto pool for the first time.
What to consider before using Bitstamp or Coinbase
Bitstamp
Pros
Well regarded in the industry
Used by lots of professional traders
Good customer service
Relatively low fees
Cons
Limited number of coins to trade
Interface can be off-putting and difficult for beginners
Regulatory status uncertain
No wallet provided with your account
Coinbase
Pros
User-friendly set-up for first-timers and novices
Free wallet provided with all accounts
Trusted brand that’s registered with regulators
Large number of coins to buy and sell
Cons
Relatively high fees
Extensive ID requirements and verification can cause delays
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.
James Edwards is the global cryptocurrency editor at Finder. He coordinates a distributed team of journalists to help further Finder's mission of helping people make better financial decisions.
He has been using Bitcoin since 2013 and began working in the industry in 2017. He takes pride in boiling down complex topics into language his parents can understand.
His expertise has seen him called on to report at events such as TechCrunch Disrupt, CoinDesk Consensus and IBM Think and has coordinated a vast number of high-profile interviews with the industry's brightest minds.
He is a regular contributor to Nasdaq, The Street and is frequently called upon for market commentary in Australia and abroad.
Every 3 months, Finder empanels a range of industry specialists to get a pulse on what the future holds for crypto. This is a summary of those findings.
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