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Before you will be allowed to trade on the platform, you must also verify the account by providing your full name, postal address and date of birth. To authenticate this information, Bitstamp requires you to upload a government-issued ID and a no more than three-months-old utility bill to prove place of residence. The document scans should be of high quality colour images, dpi resolution or higher , visible in their entirety and current not expired.

After you submit proof of ID, it takes three days for Bitstamp support to approve your application. In February , it was the target of a compromising distributed denial of service attack.

The exchange suspended withdrawals for some users for two days to prevent hackers from accessing private keys and cashing out. The attackers blackmailed Bitstamp and demanded 75 bitcoins in ransom. The company refused to pay and cited a policy of non-negotiation with criminals.

The news only surfaced six months later when someone leaked an internal report about the hack. Bitstamp declined to acknowledge its authenticity. Instead, they successfully requested the document be taken down from the platform on which it was published. Bitstamp operates through website and mobile applications. The bulk of its traffic comes through the web. Most user reviews of Bitstamp give the website a very good score. Users also have the option to develop their own software to access and manage their accounts.

Bitstamp has made third party apps possible by offering a custom API. A rating on downdetector. Users have also pointed to problems with logging in, especially with not receiving verification codes. The exchange offers a mobile app for both Android and Apple. Mobile users can place orders, make deposits and withdraw funds.

Major issues raised by users-reviews include slow customer support, difficulty in executing orders —especially those involving Ripple —and poor trading chart experience. Personally I have stopped using Bitstamp after support made a very invasive request for personal information. However, Bitstamp seem to take advantage by requesting customers give out information on competitor usage. Take a look for yourself:. I've read many users complaining on forums after receiving similar invasive requests from Bitstamp.

I always give credit to exchanges that strive to make the vetting process as smooth as possible for their clients Kraken does this much better than Bitstamp. Unfortunately, this is a big negative. Please note that most users do not receive this request. Bitstamp charges three types of fees—on deposits and withdrawals, for trading, and for various services. Depositing and withdrawing is free for all cryptocurrencies.

However, withdrawing using BitGo Instant will cost you 0. Also transferring Ripple IOUs between accounts costs 0. It is free to deposit using SEPA, but you will be charged 0. International wire transfers cost 0. Charges for using credit cards to make purchases vary depending on the amount involved.

Trading pairs cost a percentage ranging from 0. The higher the amount traded, the lower the percentage cost you incur. Bitstamp charges for a long list of service and operational fees. Should you like to try something different to Bitstamp, the following are the most popular alternatives:.

September 14, by BestBitcoinExchange — 37 Comments. Buy Bitcoin Now Rank. Buy Now Go to eToro eToro. Have you ever used Bitstamp? Let me know in the comments below.

Read More Buy Now. Thank you for submitting your comment for moderation. Notify of new replies to this comment. I just joined the Bitstamp. It took more than a month for verification process. Now I plan to buy some ripples but saw so many comments about Bitstamp. Recently it was on the news with the loss the customer's deposit.

They are notorious for their KYC procedure, often making clients jump through multiple hoops before deposit and withdrawal is allowed.

Despite this, they are a reputable exchange however patience is advised. For a faster exchange, try the likes of Bittrex. Really bad customer service and insecure platform. I just joined bitstamp. Soon I'll uplaod my vetting docs. I want know can I buy xrp ripple.

Thank you this valuable information. Does bitstamp provide what is equivalent to a prospectus for its investments and if so what is it called? How do they define dormancy? What are the options for waiving the monthly fee? Do they have available human customers support? I am trying to learn more about this type investment. Thank you for your reply. So do people have problems transferring coins out or cashing out?

Hi, Does anyone know how to move XRP from the exchange onto an offline wallet? BitStamp is one of the only ones that allows you to buy Ripple using a credit card but like others on here I get no response from support. Bitstamp is being ridiculous these days. They did not deposit my money for 8 days and counting.

They did not responded my ticket for 5 days and counting. I am not sure how i am going to trust them anymore. I never had any problem before. It used to take hours for deposits being credited. If they are overloaded, they should focus on deposits, not new verifications. It is really sad and frustrating and not legal. I can understand how frustrating it is when you miss a critical trading opportunity.

Do remember, as I mentioned in the above comment reply - all bitcoin exchanges are simply overloaded with new users at the moment. Yes, they could be doing better and should have recruited more staff beforehand. I have a very smooth transaction at the beginning. I have tried so hard after to make purchases and send emails to support nothing is working out.

Not even a response from them! I will not recommend it to anyone. Remember that support teams across all bitcoin sites are overloaded with new users flooding in from all areas since early November The response time delays should clear up, but time is necessary. Who can tell me how many days the bitstamp need to deposit for international wire transfer? My money wired a week ago over 5 business days , so far "o" balance in my account.

The thing is they didn't reply any emails I sent and no one answer the phone International wire takes much longer than normal SEPA days. Be aware that support is currently experiencing high volume of requests from hundreds of thousands of new users. I submitted the docs for verification 6 days back and still the status is pending. Sent an email to support as well and didn't see any action. Do note that Bitstamp have had new users this week.

It may take some time for them to clear the ID verification backlog. You can't login, getting "aaaaa it's gone" message and the customer service is unresponsive. It doesn't get much scarier then that. Does anyone else experience the same problem just a few days ago? Please share your thoughts.

Yeah many of these bitcoin exchange are simply buckling under the huge waves of new users coming in at high trading times. Should you like to try something different to Poloniex, the following are the most popular alternative cryptocurrency exchanges:. September 01, by BestBitcoinExchange — 25 Comments. Buy Bitcoin Now Rank. Buy Now Go to eToro eToro. Read More Buy Now. Thank you for submitting your comment for moderation. Notify of new replies to this comment.

I made the mistake of not doing my due diligence on poloniex. I signed up using their exhaustive verification process and never received any confirmations after submitting quite personal information. I also subsequently submitted support ticket regarding the matter with no response as well.

Hopefully the information disappeared into the ether, but I remain very suspicious. Thanks for getting in touch, we are beginning to see more and more comments like this, we will re-evaluate soon and see if it stands by this feedback. Apparently they have stolen my coins. And stolen coins from hundreds of others. I made a deposit to the correct address and nothing has appeared in my account.

I have full documentation including screenshots of the entire process and 's of confirmations on the blockchain. The deposit does not show up in my account after several weeks and Poloniex does not even acknowledge support tickets.

I posted the full documentation and have requested updates, but not even a single response from Poloniex. I made a complaint the the Better Business Bureau, but the the BBB says they cannot get in touch with them and it appears that they are out of business. I don't know why the authorities have not shut this down yet. People should be going to prison over this. We are hearing more and more of feedback like this. Their Bytecoin wallet is faulty at the moment as it's not letting users send Bytecoin to external wallets.

Far from ideal, thanks for sharing. Wow, this place has interesting reviews. I'm glad I read these as I will never use Poloniex. There are plenty of alternatives to Poloniex that are very trusted by the community.

Has anyone but me had their BTC stolen while using Poloniex and then got no response when desperate for help? It took them 4 months to respond to me and the only reason they did is because I was able to locate the attorney that represents Poloniex.

Of course I was told it was my fault and that they were not responsible. They even went so far as to blame me for logging into a fake Poloniex website.

I am going to offer this information on as many forums that I can involving Poloniex and based on your responses I am considering a class action lawsuit. It's not so easy to sweep a group of people under the rug as it one person.

I am prepared to offer up Poloniex attorney information. Just trying to determine my next steps. Who is the attorney that represents them?

Eager to get my issues resolved! Need more people on the support. My ticket has 30 days pending. Poloniex are notorious for not answering support questions. I think they missed the opportunity to reassure the community and bring on more agents.

People have left and sought out other exchanges with better customer support response times. I am having difficulty withdrawing my small amount of XRP. The box instructs me to insert a 'Destination Tag. What is a Destination Tag?.

I cannot get a response. I am being ignored. Bad customer service for such a simple question. If huge volumes are the reason for a lack of response, then why not say so!. Otherwise, I fear for my XRP. I cannot create a ticket at poloniex. I cannot access my email anymore due to a spammer who took over my account so my provider deleted it.

I need to ask for changing my email. What the hell is that support. Coinmama and Poloniex are definitely going to maintain their popularity. While Coinmama provides a very easy way for new and old BTC enthusiasts alike to buy more using debit and credit cards, Poloniex keeps the whole world of cryptocurrencies spinning despite their loss of millions of customers because of withdraw issues.

This is the central marketplace for trading and exchanging digital currencies. Furthermore, this exchange can keep their fees low thanks to the fact that they don't deal with fiat currency.

Until regulators find a clear framework regarding cryptocurrencies alone, Poloniex can keep their user base happy with the current costs. Then again, the mystery behind who owns and runs the biggest exchange is a good and bad thing. On one hand, there is no danger for them to suddenly be raided or put in physical danger.

On the other hand, trust is hard to get if people don't even know the names of the people behind the exchange. How can Poloniex improve trust among the community while remaining relatively anonymous? Well, I think that the trust of people toward Poloniex will remain and even increase even if they do not reveal who the people are behind the exchange.

As noted in the Poloniex analysis, this is the biggest Ethereum exchange that also serves as the best place to look for trendy coins. Yes, we do now know who the founders are, but we can be confident that they are good at what they are doing.

They are hidden, yes, but they also seem smart. Just look at the various Poloniex advantages: Combine that with low fees and active community reps identified through this Poloniex inspection, and you get a feeling that the people behind it are doing whatever they can to keep their users happy. While this article notes that having no known physical offices will count as one of the Poloniex disadvantages, this can also be a strength.

The exchange is quite powerful now, especially financially, so I'd argue that they do need some privacy. Yes it's true that Poloniex are loosing a good deal of their customers in recent times.

Most people just say they have had enough of down-times and absent customer support. It looks like Bittrex has recuperated most of Poloniex's exodus - from the spike in monthly traffic levels. After much anxiety, googling and multiple attempts at re-setting my 2nd Factor unsuccessfully, I then tried to freeze my account.

You've done an interesting review of Poloniex with certain features I was unaware about. Their site is very user friendly but God forbid you run into problems with them. The support is basically non-existent and even several messages to them solicits zero response.

You could be out of pocket for a long-time. I would be very surprised if they are still around in a year or two from now. Probably the poorest service I have ever experienced in my whole life. My account was hacked 10 days ago. At that time I activated 2-factor authentication. Then today I was notified that my password had been changed. If their security is up to snuff how did anyone access my account.

I agree with you Robert they are a very crap company indeed???? How did you lose that money, and did you contact an attorney or law enforcement to get your money back? What the news on these withdraw problems with Poloniex accounts?