Photo courtesy of Coindesk.
I was scrolling through my email today and I got a great update from Bitstamp, Ethereum will be trading on Thursday, August 17th. It will have trading pairs of USD, EUR, and BTC. Not only that, there will be no trading fees through October 1st, 2017! And it will be heavily discounted through January 1st 2018 (note the picture below). The point of these trade discounts is to try to drive traffic from other exchanges due to no or low fees through the end of the year.
Ok, I'm a big fan of Bitstamp I must say. I think it is one of the better exchanges out there and it is also the first fully licensed Bitcoin exchange (licensed in Luxembourg). They store 98% of their digital assets offline, protecting them from hackers. Not only that, it is subject to yearly audits by one of the Big Four. For those who don't know the Big Four are the four largest accounting firms in the world which are Deloitte, PricewaterhouseCoopers, Ernest & Young, and KPMG. One of the big reasons I like them is the ease of use to get fiat onto Bitstamp. All you need is a credit or debit card. Bitstamp uses Simplex, a third party who provides online businesses with a fraudless, fully protected way of accepting credit cards. This process is very simple and fast.
Bitstamp was hacked back in January, 2015 for 19,000 Bitcoins, or $5 million in value at the time. Though Bitstamp also covered the loss to it's customers who were effected. This is why it is always recommended to store your coins in cold storage off exchanges if you are not trading.
I'll be sure to cover the volume Bitstamp brings in once Ether starts trading. As of right now Bitstamp has about $62 million in volume across it's current three digital assets, Litecoin, Bitcoin, and Ripple. Ethereum will surely increase this, especially while it has no trading fees, that's a no brainer.
Bitstamp volume courtesy of Coin Market Cap.
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