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Bitso Review

Last Updated on January 31, 2024

James Headshot
Written by
Adam Headshot
Edited by
Bitso logo
3.41
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.
Visit Bitso

The Bottom Line Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Bitso stands out as a crypto trading platform that is committed to fostering a straightforward and effective exchange environment. With its roots deeply embedded in Latin America, the exchange offers a tailored service that resonates with the needs of its users.

By providing a variety of trading options, robust security measures, and dedicated customer support, Bitso has established itself as a noteworthy player in the world of cryptocurrency exchanges.

Table of Contents
Disclaimer: This is not a validation of cryptocurrency or any particular provider, service, or product. It should not be taken as advice to engage in trading or use any services. Please check our terms and conditions.

Pros

  • Offers a variety of cryptocurrencies for trading.
  • User-friendly interface for beginners.
  • Provides advanced trading features for experienced users.
  • Supports fiat deposits and withdrawals.
  • Strong focus on security measures.

Cons

  • Limited geographic availability, primarily focused on Latin America.
  • Fewer altcoins compared to larger international exchanges.
  • Customer support can be slow to respond.
  • Trading fees can be relatively high for low-volume traders.
  • Limited educational resources for new traders.

Quick Summary

Headquarters Location Mexico City, Mexico
Fiat Currencies Supported USD + 4 others (some through third party apps)
Total Supported Cryptocurrencies 52+
Trading Fees 0.10% - 0.10%
Deposit Methods Bank Transfer, Debit Card, Cryptocurrency, Payoneer
Support Facebook, Twitter, Instagram
Mobile App Yes - iOS, Android

Bitso is a digital platform that has been gaining traction in the world of cryptocurrency exchanges. As a bridge between traditional finance and the innovative world of digital currencies, Bitso offers a unique proposition to those looking to trade in this dynamic market.

Bitso homepage

Bitso’s presence in the cryptocurrency realm has firmly established it as a forward-thinking platform, bridging the gap between conventional finance and the burgeoning world of crypto. By capitalising on the surge of digital currency adoption, Bitso has curated an environment where ease of access and trade efficiency are paramount.

This digital gateway has consistently adapted to the evolving needs of the market, ensuring a robust and inclusive financial future.

About Bitso

Bitso commenced its operations with the vision of making cryptocurrencies accessible to everyone, particularly in Latin America. Founded by Daniel Vogel, Pablo Gonzalez, and Ben Peters, the exchange has become known for its role in facilitating the seamless exchange of cryptocurrencies like Bitcoin and Ethereum for local currencies such as Mexican pesos and Argentine pesos.

With a focus on building a reliable and easy-to-use platform, Bitso has grown significantly and has made a considerable impact in countries where it operates.

Bitso features

The trajectory of Bitso has been shaped by pivotal moments and market shifts in the cryptocurrency landscape. Since its inception, the demand for digital assets in Latin America has soared, with Bitso leading the charge in providing a platform tailored to this audience.

Its founders, including Pablo Gonzalez and Daniel Vogel, have navigated the exchange through waves of crypto trends, from the meteoric rise of Bitcoin and Ethereum to the diversification of assets with the inclusion of altcoins like Litecoin and Ripple. Bitso’s growth reflects the increasing appetite for cryptocurrencies in regions with volatile economies, where the stability and innovation of digital currencies offer an alternative financial solution.

Bitso has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, Reddit, Telegram and YouTube.

Bitso has a mobile app on both the Apple App Store and Google Play.

Bitso Supported Cryptocurrencies

Bitso supports trading on over 52 cryptocurrencies on their platform. This exchange currently supports 20 of the top 30 market cap cryptocurrencies.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether USDt (USDT)
  • BNB (BNB)
  • Solana (SOL)
  • XRP (XRP)
  • USDC (USDC)
  • Cardano (ADA)
  • Dogecoin (DOGE)
  • Avalanche (AVAX)
  • Shiba Inu (SHIB)
  • Chainlink (LINK)
  • TRON (TRX)
  • Polkadot (DOT)
  • Polygon (MATIC)
  • Bitcoin Cash (BCH)
  • Toncoin (TON)
  • Uniswap (UNI)
  • Litecoin (LTC)
  • Internet Computer (ICP)
  • Dai (DAI)
  • Ethereum Classic (ETC)
  • Filecoin (FIL)
  • Cosmos (ATOM)
  • Immutable (IMX)
  • NEAR Protocol (NEAR)
  • UNUS SED LEO (LEO)
  • Aptos (APT)
  • Stacks (STX)
  • Optimism (OP)

View all cryptocurrencies Bitso supports

  • AAVE
  • ADA
  • ALGO
  • APE
  • ATOM
  • AVAX
  • AXS
  • BAL
  • BAR
  • BAT
  • BCH
  • BTC
  • CHZ
  • COMP
  • CRV
  • DAI
  • DOGE
  • DOT
  • DYDX
  • ENJ
  • ETH
  • EUR
  • FTM
  • GALA
  • GRT
  • LDO
  • LINK
  • LRC
  • LTC
  • MANA
  • MATIC
  • MKR
  • NEAR
  • OMG
  • PAXG
  • PEPE
  • PSG
  • QNT
  • SAND
  • SHIB
  • SNX
  • SOL
  • SUSHI
  • TIGRES
  • TRX
  • TUSD
  • UNI
  • USDC
  • USDT
  • XLM
  • XRP
  • YFI

Trading Experience

The trading experience at Bitso is crafted to be both user-friendly and comprehensive. Whether it’s through Bitso’s standard platform or the advanced Bitso Alpha, users have access to an intuitive interface that supports efficient trading.

With a focus on lessening the learning curve for new traders while providing experienced traders with the tools they need, Bitso ensures a smooth trading journey.

Bitso’s trading experience is a culmination of thoughtful design and technological prowess, offering an Intuitive interface for traders at all levels. With features that cater to the seasoned traders seeking advanced features for their strategies, to the new entrants looking for a straightforward path to trade turnover, the exchange presents a well-rounded platform.

The Bitso Alpha, for instance, is an avenue for those who seek a more enriched trading experience with detailed transaction information, allowing for a greater analysis of trading patterns and market movements.

Bitso exchange marketing

Bitso Fees

The fee structure at Bitso is designed to be competitive and caters to both casual and experienced traders. Fees are based on a tiered system that aligns with the user’s trading volume, ensuring that costs are kept relative to the activity.

While specifics aren’t discussed here, Bitso’s approach to trading fees, deposits, and withdrawal charges aims to provide users with a fair and transparent pricing model.

Bitso’s fee structure stands as a balancing act, designed to align with the diverse financial behaviours of its users. Without delving into specifics, the platform’s fee schedule is built to be as attractive to a person dabbling in their first transactions as it is to a professional with monthly trading volumes in the higher echelons.

It’s a fee model that rewards active trading and maintains adequate commission fees, which vary depending on the trade’s size and nature, whether it’s crypto-crypto or crypto-fiat trading.

Type Fee
Deposit Fee (Bank Transfer) 0%
Deposit Fee (Debit Card) 0%
Trading Fee 0.10% - 0.10%
Withdrawal Fee (Bank Transfer) 0%

Bitso supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.0000215 BTC compared to the industry average of 0.000075 BTC. So Bitso has a fee that is below the industry average by 71.33%.

Bitso has a maker/taker fee schedule which you can see below.

MAKER % TAKER % YOUR VOLUME USDT
0.095% 0.099% < 500,000
0.090% 0.099% > 500,000
0.084% 0.099% > 1,000,000
0.080% 0.095% > 1,500,000
0.075% 0.090% > 3,000,000
0.069% 0.080% > 5,000,000
0.060% 0.069% > 10,000,000
0.050% 0.060% > 15,000,000
0.040% 0.050% > 20,000,000

Security - Is Bitso Safe?

Security is paramount at Bitso, and they’ve implemented various measures to ensure user safety. Two-factor authentication, multi-signature wallets, and cold storage practices for Bitcoin and other major cryptocurrencies are just a few of the security features available.

In addition, Bitso adheres to legal regulations and requires necessary verification for its users, reinforcing its commitment to providing a secure trading environment.

Digging deeper into Bitso’s security apparatus, it’s evident that the exchange does not compromise on protecting its users’ assets. Beyond employing two-factor authentication and multi-signature wallets, the platform utilises a variety of security features that span from advanced encryption techniques to rigorous internal controls.

By safeguarding assets in cold storage – away from online threats – and by rigorously monitoring transaction details for any signs of unauthorised activity, Bitso ensures a secure wallet for its users. This comprehensive security strategy is a testament to Bitso’s commitment to maintaining a safe trading environment amid the dynamic risks present in the digital finance landscape.

Bitso Customer Support

Customer support at Bitso is accessible and responsive. Traders can reach out via email, and can expect prompt and helpful service.

The provision of a knowledge base and frequent updates via email links ensures that users have the information they need to solve common issues, making the overall support experience a positive one.

A crucial pillar of Bitso’s user-centric approach is its customer support system. Traders can utilise the provided email address to initiate a withdrawal request or seek guidance on various aspects of trading.

Additionally, the support transcends basic troubleshooting with a knowledge base that is regularly updated, providing users with the necessary resources to understand the nuances of trading cryptocurrencies. The focus here is not merely on resolving issues but on empowering users with the right tools and information to enhance their overall trading experience.

Bitso support

Bitso Support Channels

  • Facebook
  • Twitter
  • Instagram
  • Live Chat
  • Help Center Articles
  • Support Ticket

How to Sign Up on Bitso

  1. Create Account - Visit the Bitso website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
  2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
  3. Transferring Funds - Once your account has been verified, you can deposit using the deposit methods listed below, including some options through third party apps.
  4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

  • Bank Transfer
  • Debit Card
  • Credit Card
  • Cryptocurrency
  • Paypal
  • Apple Pay
  • Google Pay
  • Payoneer

Bitso Alternatives

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Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

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Fiat Currencies Supported
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Fiat Currencies Supported
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Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

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Fiat Currencies Supported
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Final Thoughts

Reflecting on Bitso, it’s clear that the platform is more than just a place to trade cryptocurrencies. It’s an evolving ecosystem that supports the growing demand for digital asset transactions.

With a range of features designed to cater to both novice and seasoned traders, Bitso positions itself as an exchange that values user experience and financial inclusion.

In scrutinising the broader context of the cryptocurrency ecosystem, it’s clear that the roles of crypto exchanges like Bitso are becoming increasingly critical in the digital finance narrative. These platforms are key players in defining how swiftly and smoothly the general populace transitions into the era of digital assets.

Keeping an eye on future industry trends, we can anticipate that exchanges will continue to refine their offerings, adapting to regulations and technological advancements to meet customer expectations.

Bitso FAQs

Bitso is a cryptocurrency exchange platform that prioritizes security for its users. It employs a range of security measures to protect customer funds and data.

However, as with any online service, it’s essential for users to use strong passwords, enable two-factor authentication, and exercise caution to safeguard their accounts.

Yes, Bitso requires Know Your Customer (KYC) verification to ensure compliance with regulatory standards. This process involves providing personal information and documents to verify one’s identity, which helps in preventing fraud and money laundering.

The monthly withdrawal limit for Bitso can vary depending on the user’s account level, which is determined by the degree of KYC verification completed. Users should check the latest information directly on Bitso’s platform or contact their support for up-to-date limits.

Similar to withdrawal limits, the deposit limit on Bitso may depend on the user’s verification level. Higher levels of verification typically result in higher deposit limits.

Users can find the most current deposit limits by consulting Bitso’s terms of service or reaching out to customer support.

Bitso is a cryptocurrency exchange that primarily operates in Latin American countries. It has a significant presence in countries like Mexico and Argentina and is focused on expanding its services to other regions within Latin America.

Bitso was co-founded by Ben Peters, Daniel Vogel, and Pablo Gonzalez. The ownership may extend to a broader group of individuals and investors, especially as the company has raised funds from various investors over time.

Bitso operates as a regulated entity in the countries where it offers services. It has taken steps to comply with local financial regulations and has been proactive in working with financial authorities to ensure that it adheres to necessary legal and regulatory standards.

To deposit money into Bitso, you typically need to create an account, complete the necessary KYC process, and then follow the platform’s instructions to transfer funds. This may involve making a bank transfer, using a third-party service, or depositing cryptocurrency into your Bitso wallet.

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Methodology

At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.

About The Authors

James Headshot
Written by

Crypto Technical Writer

James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.

His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.

Check James out on:
Adam Headshot
Edited by

Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.

Check Adam out on: