Our Verdict
Bitso (founded in 2014 in Mexico City) is a cryptocurrency exchange tailored for Latin American users. It stands out as the first platform to enable easy crypto purchases using local currencies like Mexican Pesos (MXN) and Brazilian Reals (BRL) via bank transfers.
🌎 Availability: Operates in 160 countries, with a primary focus on Latin America.
🪙 Assets: Supports 55 cryptocurrencies and 90 trading pairs.
🔐 Verification: KYC is optional, but unverified users face strict deposit/withdrawal limits.
✅ Withdrawals: Verified users can withdraw up to $6,000/month with no deposit restrictions.
🛡️ Security: High safety standards with no history of security breaches.
💰 Fees: Competitive spot trading fees, capped at 0.1% for makers and takers.
📈 Best for: Beginner traders in Latin America.
Bitso Pros and Cons
Pros
- Low trading fees (0.1% maker/taker).
- Fast order execution with advanced order types (Market, Limit, Stop-Loss).
- TradingView integration for advanced charting.
- User-friendly interface on desktop and mobile.
- Fiat trading pairs (MXN, ARS, BRL, COP) with zero deposit/withdrawal fees.
- Efficient customer support via live chat.
Cons
- Limited asset selection (55 coins).
- No P2P trading, leverage, or derivatives.
- No trailing stop or advanced order types (GTC, GTD).
- Fiat services restricted to Latin America.
Is Bitso Right for You?
Bitso caters to different trading styles but has limitations based on strategy:
Day Traders
✅ Good for: Low fees, TradingView integration, and fast execution.
❌ Not ideal for: Missing advanced tools like trailing stops or leverage.
Casual Traders
✅ Good for: Secure, beginner-friendly platform with fiat support.
❌ Not ideal for: Limited coin variety and no P2P trading.
Hodlers & Position Traders
✅ Good for: Staking (USDC, ETH, SOL) and strong security.
❌ Not ideal for: No lending/borrowing or referral rewards.
Algorithmic Traders
❌ Not recommended: Lacks bot support, sandbox testing, or high-frequency trading features.
Main Features
| Feature | Details |
|---|---|
| Headquarters | Mexico City, Mexico |
| Founded | 2014 |
| Regulations | Gibraltar DLT License (FSC1348B) |
| KYC | Optional |
| Fiat Support | BRL, USD, MXN, ARS |
| Trading Fees | 0.095% (Maker), 0.099% (Taker) |
| Deposit Methods | Bank Transfer, Payoneer (2.9% fee) |
| Withdrawal Methods | Crypto (fixed fees), Free XRP withdrawals |
Supported Countries
Bitso primarily serves Latin America but operates in 160 countries. Key restrictions:
- Not available: USA, China, Iran, Iraq, Venezuela.
- Full list: Detailed in Bitso’s Terms of Service.
Security & Transparency
🔐 Protections: 2FA, biometric login, bug bounty program, and Coincover insurance.
🔎 Proof of Reserves: Uses zk-Proof of Solvency (Merkle Tree).
⚠️ Gaps: No fiat deposit insurance or mandatory KYC for small trades.
Trust Scores:
- Cer.Live: Above average (due to no fiat insurance).
- Certik: Moderate (strong cybersecurity but lenient AML policies).
Trading Experience
Desktop (Alpha Pro/Classic)
- Clean interface with TradingView charts.
- Order Types: Market, Limit, Stop-Loss, Stop-Limit.
- Staking: Earn up to 5% APY on USDC, ETH, SOL.
Mobile App
- Limitations: No in-app deposits/withdrawals (redirects to browser).
- Security: Enforced biometric login and PIN.
Fees
Trading Fees
- Spot: From 0.095% (Maker) / 0.099% (Taker).
- Discounts: Volume-based tiers (e.g., 1,500,000 MXN/month).
Withdrawal Fees
- Crypto: Fixed (e.g., 5.28 USDT via Ethereum).
- Fiat: Free for LatAm users.
👉 Compare fees with OKX for better rates.
Available Cryptocurrencies
🪙 Top Assets: BTC, ETH, XRP, USDT, DOGE, SHIB.
💧 Liquidity: High trading volumes ensure smooth execution.
Deposits & Withdrawals
- Fiat: Bank transfers (free) / Payoneer (2.9% fee).
- Crypto: Free deposits; withdrawal fees vary.
Customer Service
💬 Live Chat: Fast, multilingual (English/Spanish/Portuguese).
📧 Email: Detailed responses within ~1 hour.
FAQ
Is Bitso trustworthy?
Yes, with strong security and Gibraltar regulation.
Can US citizens use Bitso?
No.
Does Bitso require KYC?
Optional, but limits apply for unverified users.
Is there leverage trading?
No.
Are funds safe?
Yes, with 2FA and biometric protections.
Final Thoughts
Bitso excels for Latin American traders with low fees and fiat support but falls short for advanced strategies. For global users, platforms like 👉 OKX offer more assets and features.
Author: Kate Kuzmina (Blockchain Writer, PhD in Economics).
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