Bitstamp Trading Signals - TU Expert review
Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of Bitstamp trading signals. You will learn what kinds of trading signals Bitstamp offers and what the conditions for using them are.
Short introduction of Bitstamp
Bitstamp (bitstamp.net) is one of the oldest cryptocurrency exchanges. The company was founded in 2011 in Luxembourg. The exchange offices are located in Luxembourg, London, and New York. Bitstamp net is focused primarily on clients from the European Union. It provides cryptocurrency trading and exchange services. The company provides clients with TradeView software, detailed information, and analytics of the cryptocurrency markets. One of the features of the exchange is an attractive commission policy for clients with large trading volumes, and for some high-volume traders, there are no commissions at all.
| 💰 Account currency: | EUR, USD, GBP, and cryptocurrencies |
| 🚀 Minimum deposit: | 1 USD |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, pairs fiat/crypto |
| 💹 Margin Call / Stop Out: | No |
Bitstamp Pros and Cons
👍 Advantages of trading with Bitstamp:
•the possibility of investing cryptocurrencies in gold;
•minimum deposit of 1 USD;
•TradeView terminal.
👎 Disadvantages of Bitstamp:
•was hacked in 2015;
•complicated verification;
•cannot withdraw fiat funds to e-wallets;
•there are fees for withdrawing funds;
•leverage is only 1:1.
What are trading signals?
Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.
A broker can provide signals in several ways:
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Copy trading.
-
Email alerts.
-
Signals through a blog on the website.
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Recommendations of a personal manager, etc.
When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.
Bitstamp Trading Signals
Experts at Traders Union have analyzed the fees of Bitstamp cryptocurrency exchange. The main parameter on which the size of the commission depends is the trader’s turnover. The more a crypto trader works, the fewer fees he pays. The maximum commission is 0.5% per trade if the trading volume is <10,000 USD. If a trader’s trading turnover exceeds 20,000,000,000 USD in 30 days, transactions in the company are carried out without commission. The minimum amount to open a transaction on Bitstamp is 20 USD or the equivalent in other currencies and cryptocurrencies. Also, the cryptocurrency exchange charges a fee for withdrawing funds. Detailed information on all commissions can be found on the exchange website.
| Account type | Spread (minimum value) | Withdrawal commission |
| Individual | 0.5% | Yes |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that Bitstamp does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.
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FAQs
Can trading signals depend on the account type?
Yes. As a rule, they are provided for certain account types, but may also be available for the standard account.
Can I reject a trading signal?
Yes, you can. However, if the signals are provided as a part of copy trading with automatic closing of positions, you need to monitor the platform.
For what assets can trading signals be provided?
Brokers may provide trading signals for any asset, for example Forex, stocks, cryptocurrencies, etc.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.