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Bitstamp Cryptocurrency Exchange in Singapore
Background Information about BitStamp Cryptocurrency
BitStamp owns and operates a cryptocurrency marketplace allowing companies and individuals from all around the world to buy and sell digital currency. One of the early players in the crypto exchange scene, Bitstamp was launched to compete against Mt. Gox, the largest cryptocurrency exchange at its peak.
BitStamp offers a cryptocurrency exchange platform with an intuitive and secured way for users for trading crypto assets. It comes with instant deposit capabilities that allow you to purchase coins with your cards. It is also available as a SaaS solution, otherwise known as a crypto-as-a-service solution for crypto exchanges. Known in Singapore for being one of the easiest to use cryptocurrency exchanges, BitStamp has been a leading crypto exchange in Singapore for many years now.
Headquartered in London, United Kingdom, BitStamp was founded in 2011 by Damijan Merlak and Nejc Kodric. In 2018, BitStamp was acquired by NXMH, private equity, and investment firm based in Brussels, Belgium. Julian Sawyer is the CEO at BitStamp. Before joining BitStamp, Julian held the position of managing director at Gemini Europe.
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Pros
- Swift and easy-to-use platform
- Supports multiple payment methods including bank transfers and credit/debit cards
- 24/7 customer support
- App available on iOS and Google Play store
- Supports USD and EUR pairs for cryptos
- Customization capability with APIs
Cons
- Slow account verification process
- Limited number of supported cryptocurrencies
- Slightly higher fees if trading lower volumes
Services of BitStamp Crypto Exchange Platform
Some services of BitStamp in Singapore include:
- Institutions & Partners: This feature of BitStamp enables crypto access for a wide range of institutions including, brokers, neo banks, fintech, family offices, and more.
- Crypto-as-a-service: BitStamp also provides a Crypto-as-a-service solution, which allows you to even develop your own crypto solution. This solution will enable your customers to access crypto markets on your own platforms and apps.
- Pro traders: with this feature, traders can get real-time insights into the crypto markets, a range of analytical tools, and powerful order types to execute a growth strategy.
BitStamp offers you to open both a personal and corporate account; however, you should open each one individually. You cannot use a single account for both personal and business purposes.
How to open a personal account at BitStamp in Singapore?
BitStamp offers companies and organizations to create corporate accounts that are intended for business purposes and used by legal entities. To open a corporate account at BitStamp, you need to follow the below step-by-step process:
Step 1: Visit the official website of BitStamp and click on the “Get Started” button.
Step 2: After you click on the “Get Started” button, you’ll be redirected to a page where you will be provided with options of accounts available on Bitstamp. Click on the personal account option.
Step-3: Once you click on the personal account option, you will be redirected to the signup page for a personal account. Here, you have to fill in details like email address, company name, country.
Step 3: Next, you have to read and accept the terms and policy of the BitStamp, and then click the “Continue” button.
Step 4: After creating your account, you have to select “Personal Account Verification” and then proceed with filling the requested verification form and upload the necessary verification documents. You will receive an email from BitStamp to your registered email address about your account verification.
Bonus
BitStamp Overview
How do I deposit funds to my BitStamp Crypto account in Singapore?
After successfully creating your BitStamp account, you can deposit funds to your account by bank transfer or purchase cryptocurrency directly with a debit/credit card.
Depositing via bank transfer
To deposit funds into your account via bank transfer on BitStamp Singapore, follow the below process:
- First, you need to log in to your BitStamp account
- Go to the “Deposit” option
- Next, you need to select the bank transfer option from the menu
- Now, you have to choose the currency you want to deposit and the amount you want to credit to (note that the balance differs from the currency deposited as the funds will be converted).
- Click on the “Deposit button
- You will see the bank details of “BitStamp” and your personal message number. Here, you need to make a transfer from your bank and also have to write your personal message number for transfer reference.
Kindly note that just opening a deposit at BitStamp will not help in transferring your funds. You also need to transfer the funds from your bank yourself.
Free quently asked questions
1Is BitStamp Cryptocurrency Exchange platform secured?
BitStamp is a secured platform and utilizes advanced security technologies. The platform has implemented Multi-Sig technology to its hot wallet, where it keeps only a small chunk of crypto assets, and the majority of crypto assets are stored in offline cold storage systems.
2 How long does it take for BitStamp to settle my withdrawals to a bank account?
The estimated withdrawal process times vary based on the customer location. For SEPA zone transfers (consisting of 28 European members), the process usually takes 1-3 business days (weekends excluded) to be credited to the designated bank account of the customer after they have been sent from the company. For customers outside the SEPA zone, it usually takes 2-5 business days (without weekends)
3Are there any limits for purchasing crypto with a card at BitStamp?
Yes, BitStamp does enforce some limits for purchasing cryptocurrency with a credit/debit card. The minimum purchase amount is 50 USD/EUR/GBP, the daily limit is 2,500 USD/EUR/GBP, and the monthly limit is 20,000 USD/EUR/GBP.