Home News Crypto exchange Bitstamp clocks 11 years

Crypto exchange Bitstamp clocks 11 years

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Bitstamp is currently the longest-standing crypto exchange platform in the world. The industry forerunner is celebrating 11 years of operation, an uncommon feat in the business. 

But it might be worth mentioning that things did not always come on a platter for Bitstamp. Its early years were plagued with uncertainties as scams and hack attacks were as rampant as they get. One notable such incident was that of Mt. Gox in early 2014. At the time of the hack, Mt. Gox was arguably the biggest crypto exchange. However, it never recovered from the hack, but rather plunged into implosion thereafter. 

Bitstamp crypto exchange: The Journey

Little drops of water make the mighty ocean, they say. And so, in 2011, two budding Slovenian businessmen Nejc Kodrič and Damijan Merlak teamed up to form what is called Bitstamp today.

One of its milestone achievements so far includes becoming the first-ever crypto exchange to secure a European payment license. Even more impressive is the fact that at the time, crypto was still a business that not so many wanted to delve into.

By October 2018, Belgium-based investment company NXMH acquired Bitstamp exchange in a deal that reportedly ran into millions of dollars. However, following the deal, NXMH also said in a statement that Bitstamp shares its long-term goals and ambition, hence the decision to pull through with the acquisition.

Certainly, Bitstamp’s long-term strategy appears to be working perfectly for it, and it’s no wonder that the firm is still a force to reckon with in the industry today. 

As of press time, Bitstamp remains the largest crypto exchange in the EU in terms of trading volume. Recently, the exchange finally listed the popular meme coin Shiba Inu (SHIB), following earlier postponements. Meanwhile, there are also reports of a possible Dogecoin listing. However, those reports have already been dismissed by ex-CEO Julian Sawyer.

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