Bitcoin to USD transfer
Individuals and institutions can open accounts to buy and sell Bitcoins on Bitstamp provided they verify their identity according to company and European compliance standards.
Bitstamp in general has a very good and responsive customer service and the deposit and withdrawal times are generally within normal parameters of between 2 and 5 business days for dollars, euros, British pounds, and Swiss francs.
Bitcoin vs US Dollar Trading
For now the service only provides trading of bitcoins against US dollars.
How does it work?
Open Account: The first step is to go to and register as a user so you can start the process.
Verify Account: To use the account in any way it needs to be verified. The process is very simple and consists of entering additional identity information including full name, address, date of birth, and scanned copies of your government issued ID and proof of residence.
Send Money: Once your account is verified you can send Bitcoins, euros, dollars, Swiss francs, or British pounds. The Bitstamp account supports dollars and Bitcoins so if you send any of the other currencies they will be exchanged into dollars at no extra charge. The methods to deposit are:
- Bitcoin: Transfer to the Bitcoin address they provide for your account. No fees charged.
- Euros: Transfer through the SEPA system to the account number they provide. No fees charged and they are credited in 1 to 3 business days.
- US dollars, British pounds, and Swiss francs: Wire transfer to their account and then they convert to US dollars if applicable and deposit to your Bitstamp account. They charge in all cases a 0.1% deposit fee on their side with a minimum of and funds are credited within 2 to 5 business days.
Buy and Sell:
Once your money is credited you can start trading bitcoins immediately. The exchange operates 24 hours a day 7 days a week. You can buy and sell to the limit of your account value.
Instant Orders: If you want to buy or sell bitcoins at the current market price you can enter what they call instant orders. They will execute your order at the best price on the exchange.
Limit Orders: If you want to buy or sell bitcoins at a specific price then you can enter the order at that level and they will publish it on the order book and execute it when someone else wants to buy or sell at that price.
Commissions: They charge between 0.50% and 0.20% per trade depending on your monthly volume.
Order Book:
The order book is a great feature because it’s where the exchange shows all the open orders it has from its clients.
