Spot test: Can beginners use exchanges? Part II: Bitstamp
CoinTelegraph’s test series for exchanges continues with a report on using Bitstamp as an entry level user to see how its user experience matches its reputation. The test is part of a practical report following publication of our exchanges reviews series earlier this year. As Bitcoin becomes more and more appealing to mainstream consumers, it is likely that more will need to use an exchange in order to perform various transactions. As such, we wanted to see if the five leading exchanges from our review really are equipped to deliver a user experience which is easy and enjoyable to navigate....
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As an everyday consumer, can you rely on exchanges to facilitate a positive overall experience when discovering Bitcoin for the first time? This is a question we at CoinTelegraph have been asking ourselves a lot recently. Following publication of our extensive reviews series, which evaluates 10 of the most well-known exchanges in detail, we thought it was only reasonable to test our own data. As such, this series of articles will test the top five exchanges under review anonymously, allowing us to see if the user experience matches their credentials. As well as performing some basic....
Mr. Mix is a regular commentator at Zero Hedge, an influential financial website. He writes a blog on subjects of interest to him, recently including Bitcoin, a controversial topic. As a beginner, he wanted to take a good look at the Bitcoin ecosystem for himself with the help of a couple of experts, as well as explore some parts of Bitcoin that beginners do not typically see. A man of many interests, he is happily married to a wonderful Peruvian-born lady. Mr. Mix has been involved in international business (buying ball bearings and similar products for their company in Peru) for over 20....
Mr. Mix is a regular commentator at Zero Hedge, an influential financial website. He writes a blog on subjects of interest to him, recently including Bitcoin, a controversial topic. As a beginner, he wanted to take a good look at the Bitcoin ecosystem for himself with the help of a couple of experts, as well as explore some parts of Bitcoin that beginners do not typically see. A man of many interests, he is happily married to a wonderful Peruvian-born lady. Mr. Mix has been involved in international business (buying ball bearings and similar products for their company in Peru) for over 20....
So I've been talking a lot about Bitfinex recently, since I started using it about 2 weeks ago. Up until now, I've been using a variety of exchanges including Bitstamp and BTC-E to trade my Bitcoin. I just want to point out that there is a big distinction between exchanges, and trading platforms like Bitfinex. On exchanges, all I could do was sell Bitcoin at a high, and buy them back at a low, or hold some USD in the hopes of snatching up some cheap Bitcoin. In fact, I'm sure all of you reading this have been trying to do exactly that for the last few months. If you haven't heard of Margin....
Anyone in the Bitcoin community who has looked at charts for longer than a few minutes has noticed that traditionally, Mt. Gox's price tends to be higher than the other exchanges. In fact, in the past months, it hasn't been uncommon to see a different of $100 USD between the two Bitcoin exchanges (with BitStamp being the lower of the two). Today, the prices per Bitcoin on the exchange are just about equal, with the price on Mt. Gox being about $767, and $767 on BitStamp. In fact, the price per Bitcoin at BitStamp has surpassed the price at Mt. Gox today. The amount was rather insignificant....