Introduction and History
Bitso was founded in 2014 and has since established itself as one of the leading cryptocurrency exchanges in Latin America. Based in Mexico City, Mexico, Bitso has become a popular exchange for cryptocurrency trading, serving both experienced and novice traders.
Fee Structure
Bitso employs a multi-tiered fee system that varies based on the user's trading volume. Here is an overview of the fees on Bitso:
Maker fees start at 0.075% and decrease to 0.040% as the trading volume grows.
Taker fees start at 0.098% and decrease to 0.050% as the trading volume grows.
The exchange offers competitive withdrawal fees; for instance, Bitcoin withdrawals are charged 0.0000215 BTC, significantly below industry averages.
Security and Privacy
Security is the main concern for Bitso. The exchange implements two-factor authentication and multi-signature wallets while predominantly storing funds in cold wallets to minimize risks. Bitso also adheres to rigorous Know Your Customer (KYC) and Anti-Money Laundering (AML) measures to ensure trading security and compliance with regulatory requirements.
Mobile Application
The Bitso mobile app offers a comprehensive range of services available on the web platform, featuring an intuitive interface. It is accessible on iOS and Android devices, allowing users to trade, complete KYC processes, monitor real-time prices, and enhance security through biometric data.
Customer Support
Bitso offers extensive customer support, including a help center with video tutorials and FAQs. Users can submit inquiries through a ticketing system and expect a response within 24 hours. Support is also available through social media channels and online chat.
Deposit/Withdrawal Methods and Available Currencies
Deposit methods: international bank transfers, SPEI network, Ripple Gateway.
Withdrawal methods: Bitcoin, Ethereum, international bank transfers, SPEI network, Ripple Gateway.
Supported assets: Bitso supports 9 types of cryptocurrencies, including Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, and others.
Additional Information
Geographical reach: Bitso is actively operating in South and North America, with a particular focus on Brazil, Mexico, and Argentina, and has plans for expansion into other markets.
Additional features: Bitso offers advanced trading options through Bitso Alpha, an enriched trading interface providing detailed transaction information.
Advantages and Drawbacks
Among the advantages are low fees, high security, and a user-friendly mobile app. However, the exchange offers a limited number of cryptocurrencies and is currently unavailable to residents of the United States due to strict trading regulations.
Conclusion
Bitso represents a reliable and user-friendly platform for cryptocurrency trading, suitable for both experienced traders and beginners. With its focus on security, competitive fees, and ease of use, Bitso stands as one of the leading cryptocurrency exchanges in Latin America.
CEO & Co-Founder Bitso