Verification at Bitstamp
Verification process usually takes about 2 hours, if you have all the necessary documents. You can verify identity by submitting scanned image of your passport, national ID or driver's license together with the proof of residency. All you need to know is explained in this short video:
The verification itself doesn't affect the amount of money you can trade, but deposits and withdrawals are not possible with an unverified account.
Bitstamp currently accepts just two fiat currencies - US dollars and European Euro. When it comes to cryptocurrencies, they support BTC and Ripple, but Ripple trading is something that we would not recommend due to extremely high fees. Bitcoin trading is the main feature of Bitstamp, and it works as a user-to-user trade, while Ripple trading is conducted directly, user-to-Bitstamp with an unfavorable exchange rate.
Fees at Bitstamp.com
The trading platform supports wire transfers and the following fees apply:
International Wire deposits carry 0.05 percent Bitstamp fee with a minimum of 7.5 USD/EUR and it takes 2-5 business days to be completed.
International Wire withdrawals carry 0.09 percent Bitstamp fee with a minimum of 15.00 USD/EUR. The minimum amount for international wire withdrawals is 50.00 USD/EUR, and it takes 2-5 business days to be completed.
When it comes to Bitcoin trading fees, Bitstamp starts a bit high with 0.25 percent for a monthly volume lower than $20.000. The percentage drops as the volume increases; all the way to 0.10 percent for a monthly volume over $20 million.
USD/EUR trades have a flat fee of 0.20 percent. You can see the detailed fee schedule here - https://www.bitstamp.net/fee_schedule/
The minimum trading amount is currently $5. Previously the minimum trading amount was $0.86, but the exchange had to increase the limit due to customer complaints. Customers complained that they are paying five times higher fees on the smaller trading amounts due to the Bitstamp's rounding policy.
Bitstamp.com Trading
Bitstamp allows users to execute instant orders at the best bid currently available, to ask price as well as to place limit orders.
Buying of Bitcoins is available to businesses and individuals 24/7 through the Tradeview interface and a well-documented API. The API gives users complete access to their accounts, as well as a quick way to analyze the public book and ticket information.
The company also has mobile apps for both Android and iOS, which allow easy trading on the go.
The exchange does not support trading of derivate and futures. Altcoins and margin trading services are not supported too.
Ease of Use
The website's interface looks simple and clean. It's very easy to find your way around even if you are the first-time visitor. Bitstamp also has one of the best live trading view interfaces and a great Fiat/BTC graphs.
Customer Support at Bitstamp.com
Bitstamp's customer support typically responds within an hour and they are ready to go an extra mile to help resolve user's issues. They have earned the respect of many users by giving honest replies to support tickets and working overtime as well as hiring additional staff to handle the workload in times of need. More than decent support - everyone loves them, including us.