Type Bitcoin exchange Website www.bitstamp.net | Currency Bitcoin Founded 2011 | |
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Location Luxembourg, Luxembourg; Slovenia Key people Nejc Kodrič (CEO and co-founder) Founders Damijan Merlak, Nejc Kodrič Profiles | ||
Automatic bitcoin trading bot v4 6 for btce bitfinex bitstamp etc updated 07 july
Bitstamp is a bitcoin exchange based in Luxembourg. As of 2016 it was the world's second largest by volume. It allows trading between USD currency and bitcoin cryptocurrency. It allows USD, EUR, bitcoin or Ripple deposits and withdrawals.
Contents
- Automatic bitcoin trading bot v4 6 for btce bitfinex bitstamp etc updated 07 july
- How to buy bitcoins using bitstamp
- History
- Service disruptions
- References
The company was founded as a European-focused alternative to then-dominant bitcoin exchange Mt. Gox. While the company trades in US dollars, it allows money to be deposited through the European Union's Single Euro Payments Area, a convenient way of transferring money between European bank accounts.
Bitstamp offers an API to allow clients to use custom software to access and control their accounts.
How to buy bitcoins using bitstamp
History
The company is headed by CEO Nejc Kodrič, a widely known member of the bitcoin community, who co-founded the company in August 2011 with Damijan Merlak in his native Slovenia, but later moved its registration to the UK in April 2013, then to Luxembourg in 2016. Bitstamp outsourced certain operations to the UK due to the lack of adequate financial and legal services in Slovenia.
When incorporating in the United Kingdom, the company approached the UK's Financial Conduct Authority for guidance, but was told that bitcoin was not classed as a currency, so the exchange was not subject to regulation. Bitstamp says that it instead regulates itself, following a set of best practices to authenticate customers and deter money laundering. In September 2013, the company began requiring account holders to verify their identity with copies of their passports and official records of their home address. In April 2016, the Luxembourgish government granted a license to Bitstamp to be fully regulated in the EU as a payment institution, the first for a bitcoin exchange, allowing it to do business in all 28 EU member states.
In December 2016 Bitstamp started a public funding campaign on the BnkToTheFuture investment website.
Service disruptions
In February 2014, the company suspended withdrawals for several days in the face of a distributed denial-of-service. Bitcoin Magazine reported that people behind the attack sent a ransom demand of 75 bitcoins to Kodrič, who refused due to a company policy against negotiating with “terrorists”. Days after restoring service, Bitstamp temporarily suspended withdrawals for some users as a security precaution due to increased phishing attempts.
In January 2015, Bitstamp suspended its service after a hack during which less than 19,000 bitcoins were stolen, reopening nearly a week later.