The numerous aspects of the platform, as well as its advantages and disadvantages, are the main topics of this Bitso review. Additionally, it offers additional pertinent data that is required to assist consumers in making the best choice when it comes to trading on the website.
| Official Website | https://bitso.com/ |
| Headquarters | Mexico |
| Found in | 2014 |
| Native Token | No |
| Listed Cryptocurrency | BTC, ETH, USDT, XRP, DAI, LTC, MANA, BCH, & BAT. |
| Trading Pairs | 20+ |
| Supported Fiat Currencies | USD |
| Supported Countries | Brazil, Mexico, and Argentina |
| Minimum Deposit | N/A |
| Deposit Fees | Depends on currency |
| Transaction Fees | Maker – 0.095% Taker – 0.099% |
| Withdrawal Fees | Depends on currency & Payment Method |
| Application | Yes |
| Customer Support | FAQs, Support Centre, & Social media Support |
Bitso is a first-of-its-kind cryptocurrency exchange platform based in Mexico. In spite of the tense political climate between the two nations, it encourages US investors to trade on its platform. However, US investors should independently examine any specific difficulty that may arise as a result of their domicile or citizenship.
Bitso exchange primarily stands out for five reasons. The first is their process of exchange. It is simple and easy to follow. The second feature is that customers may easily fund and withdraw money from their accounts. The third crucial element is its security, which is powered by the most advanced technology. Its use of multisig wallets is another reason for its popularity. Choose the best online or offline crypto wallet for storing your cryptocurrencies. The powerful Bitso exchange APIs add to its credibility. It indicates that the platform allows people to create effective apps.
The third crucial element is its security, which is powered by the most advanced technology. The powerful Bitso APIs add to its credibility. It indicates that Bitso allows people to create effective apps.
Bitso is not a complicated platform and the process of initiating trade on this cryptocurrency trading site is quite simple. As the first step, users will have to register themselves on the site. Once that is done, they need to complete their KYC and this will enable users to deposit their selected amount in the Bitso exchange and start trading.
Some of the key features of Bitso are mentioned below:
Unlike many reviews on the internet and our research, we can say that Bitso happens to offer a number of attractive products and services to its consumers and are listed below:
| Pros | Cons |
| Bitso offers top-notch customer care services. | The site only supports the usage of the Mexican Peso. |
| The Bitso fees on the site are low in comparison to other platforms. | The choice of available cryptos might sometimes appear limited when compared to other trading platforms. |
| Bitso supports fiat currencies as well. | |
| There are a number of cryptocurrencies to choose from. |
Getting started with Bitso is easy and users have to follow the steps mentioned below:
The first step of using Bitso is registering on the platform. On landing on its website, users will have to click on the ‘Create an Account’ tab. The next step is filling in a few important details like the user’s email address and creating a strong yet easy to remember password. Finally, users will have to click on the ‘Start’ button.
Once that is done, the user will receive an OTP on the provided email address. It needs to be entered in the designated field.
Users won’t be able to deposit or trade anything after registering since the limit is zero. They will need to fill in a few more details to boost the monthly deposit and withdrawal limit to $185.00.Users must fill in their name, date of birth, gender, employment, source of money, PEP status, and phone number.
The limits of monthly withdrawal and deposit can be increased to $750.00 and $1,500.00, respectively. To avail of this feature, users are required to provide a few legal documents to verify themselves.
Once they are done with the above-mentioned steps, users are eligible to start depositing their desired amounts in Bitso. There are two ways to do this:-
One way is to deposit the selected amount through wire transfer, and the other option is to deposit through stablecoin. Selecting a wire transfer will give the user the opportunity to deposit any amount straight from their bank. However, if they select the latter, then they will be able to choose between Binance, Paxos, USD coin, USD, and HUSD as the depositing currency.
Trading fees on Bitso vary depending on the user’s selected trading volume and currency. For users who choose USD as their currency, the maker and taker prices are 0.095 percent and 0.099 percent, respectively. Users who use Bitcoin as their fixed currency must pay the lowest charge of 0.075 percent for the minimum trading volume and 0.098 percent for makers and takers.
The costs for deposits and withdrawals vary depending on the method and currency used. For example, there are no additional costs when depositing Bitcoin, but customers must pay 0.00016442 BTC when withdrawing it. This charge is excessively low in comparison to the market average, making the platform competitive. Know more about its fee structure from here.
Since Bitso primarily deals with the Mexican cryptocurrency, withdrawals and deposits are done through the SPEI banking network of Mexico.
Unlike many exchanges, Bitso accepts a number of payment methods for both deposits and withdrawals. A few of them are International Bank Wire, Ripple, Either Withdrawals, SPEI, etc.
Bitso currently supports customers based in Brazil, Mexico, and Argentina for crypto exchange. However, the company aims to spread its business to other parts of the world. Bitso primarily supports 9 types of cryptocurrencies. They are Bitcoin, Ethereum, TrueUSD, Ripple, DAI, Litecoin, Decentraland, Bitcoin Cash, & BAT.
Besides the website, Bitso also offers a very well-built mobile application for its users to trade smoothly. The application is available on both iOs and Android platforms.
The key benefits of the mobile app in crypto exchanges are:
Since Bitso supports fiat currency trading, verification is necessary to comply with KYC and AML regulations. Bitso provides three degrees of verification, each with its own set of perks. Multisig wallets and two-factor authentication are among the security features implemented by Bitso.
Unlike other cryptocurrency exchanges, Bitso provides high-quality customer support services to its users to ensure that any problems that customers face are solved in a hassle-free manner. The website contains a help center that has necessary information along with helpful videos, social media, and FAQs.
However, in case someone cannot get their queries solved through the material available at the help center, they can create a support ticket and expect help within twenty-four hours.
To sum up, we have discussed how trustworthy this fantastic exchange is in this Bitso review. For high-volume traders, including novice and seasoned investors, it provides complex trading modes and features. It ranks among the top bitcoin exchanges as a result. But it’s crucial to remember that every exchange has its own trading philosophy. Investors can therefore choose their best trading strategy based on their needs.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
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