Bitso
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bitso.com
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Bitso is a service for exchanging cryptocurrencies for Mexican peso with free deposit and withdrawal, low commissions, a convenient mobile app and referral program.
Cryptocurrency exchange
Website
Social media
Date of foundation
2014
Head Office
México, Campos Eliseos, 400 601B
Types of support
Telegram: @itso_MX
Feedback form on the site
Twitter
Instagram
Facebook
Help Center
Languages
English, Spanish, Portuguese
Founder
Ben Peters, Daniel Vogel, Pablo Gonzalez
The owner of the company
Ben Peters, Daniel Vogel, Pablo Gonzalez
Manager
Daniel Vogel
Maximum input amount
Verified
Cryptocurrency
No limits
Fiat
  • Bank transfer, Ripple gateway, SPEI: to 18 000 USD / For 1st level clients
  • Bank transfer, Ripple gateway, SPEI: to 54 000 USD / For clients of the 2nd level
  • Bank transfer, Ripple gateway, SPEI: Individual conditions for clients of the 3rd level
Unverified
No limits
Maximum withdrawal amount
Verified
Cryptocurrency
No limits
Fiat
  • Bank transfer, Ripple gateway, SPEI: to 18 000 USD / For 1st level clients
  • Bank transfer, Ripple gateway, SPEI: to 108,000 USD / For 2nd level clients
  • Bank transfer, Ripple gateway, SPEI: Individual conditions for clients of the 3rd level
Unverified
No limits
Exchange Commission
Commission for processing transactions: 0.1 %
Terminals
Author's platform, TradingView
Age restrictions
From 18 years
Trading volume per day
27359 USD
Number of users
1000000+
Number of cryptocurrencies
9
Margin Trading
Yes
Leverage
Depends on the pair traded
Tokenized assets
No
Free Demo Account
No
Types of accounts
Execution of orders
Market Execution (at market price), Limit Orders
Methods of replenishment
Bank transfer, Ripple gateway, SPEI, Cryptocurrencies
Withdrawal methods
Bank transfer, Ripple gateway, SPEI, Cryptocurrencies
Account currencies
MXN, Cryptocurrencies
Types of cryptocurrencies
Bitcoin, Decentraland, XRP, Ethereum, Litecoin, Basic Attention Token, Bitcoin Cash, TrueUSD, DAI
Licenses
Licensed
FSC1348B issued by the Gibraltar Financial Services Commission (Активна)
Mobile applications
Has mobile apps (Android)
Trader training
Training videos, instructions
A way to store cryptocurrencies
Cold: yes
Hot: no
Fiat accounts
Yes
Scalping
No
Stop Loss and Take Profit Function
Yes
Exchangeability for fiat currencies
Yes
Basic verification
Yes
Extended AML verification
Regulatory laws
Legislation in Mexico
Gibraltar Legislation
API
Yes
Affiliate Program
No
Benefits
Fiat currency trading
Free Deposit and Withdrawal
Tutorial videos and instructions
Integrated Resource Center
Low service fees
There is a handy mobile app
Additional safety provided by advanced KYC standards
Disadvantages
Problems with phone number verification
No Russian language support
Registration from the Russian Federation is not available
Limited choice of cryptocurrencies
Company requisites
Overall assessment
4.8/10
Date of update
27.04.2022

    Bitso is it a scam? Reviews and description

    March 18, 2021

    Bitso - is a service for exchanging various cryptocurrencies for the Mexican peso. Founded in 2014 by Ben Peters, Daniel Vogel (platform manager) and Pablo Gonzales, the company has become a pioneering cryptocurrency exchange in Mexico. It is the first cryptocurrency exchanger to offer cryptocurrency trading with the Mexican peso. You can work on the exchange through a website platform and a mobile app.

    There are not many reviews about the company, and among them there are complaints about the exchange. That's why we compiled this review to understand whether Bitso is a scam.

    Bitso reviews.

     

    Why Bitso?

    Bitso is a service where you can send and receive cryptocurrency between friends around the world in seconds, buy and sell coins. You can make deposits in local currency, dollars, or any cryptocurrency and have funds on hand in one account. Benefits of the platform:

    • Fiat currency trading;
    • A comprehensive referral center;
    • Low commissions;
    • Enhanced KYC Standards;
    • Deposit and withdrawal of funds without commission;
    • High level of security;
    • API support;
    • A mobile app for ease of use;
    • Videos and instructions for beginners;
    • Checking the currency before listing.

    On the home page crypto exchanges There is a link to a page with a description of the company's mobile app, a link to a page with a description of the company's mobile app. There is also a link to the page with a description of the company's mobile application. The help center contains many answers to popular questions, guides and tips.

    Bitso customer reviews

     

    How to exchange cryptocurrency on the Bitso platform?

    Now the service works with the following cryptocurrencies: Bitcoin, Ethereum, TrueUSD, BitcoinCash, Ripple, DAI, Litecoin, Decentraland, BAT. You can use the platform as a wallet or to exchange cryptocurrency. When you register on the service's website, you will have access to both services. In the wallet, you can deposit and withdraw cryptocurrencies and convert them to other cryptocurrencies. The exchange service, on the other hand, is more focused on cryptocurrency trading.

    bitso.com cryptocurrency exchange

    The work takes place on the Bitso Alpha platform, which is designed only for traders. It has the necessary tools for work. The service offers popular order types, including the top 10 buy and sell orders. Market overview and transaction information is also available. It is not possible to set your own time frame for analysis, the options available are: 1, 3, 6 minutes, a week, since the beginning of the year and 12 months. You can buy coins on Bitso in 3 easy steps:

    • Log in to your account or register on the site bitso.com.
    • Deposit funds in Mexican pesos. Make a deposit using one of the deposit methods (SPEI or Oxxo transfer). The minimum transfer amount via SPEI is 50 pesos.
    • Buy currency at the best market price or place a position for a certain value.

    The minimum purchase amount is the equivalent of 100 Mexican pesos. The company also has a handy app. Bitso App is the only app in Latin America that allows you to check market trends and buy cryptocurrency at the same time. Start with 100 Mexican pesos and buy or sell cryptocurrency from your smartphone. The app allows you to check the price to stay up to date on market trends and cryptocurrency performance in real time. You can fund your account with cash at OXXO in the country or from the banking app via SPEI transfer.

    Bitso mobile app

     

    Verification on the bitso.com platform

    Before you can be verified, you need to create an account. To do this you will need an email and a cell phone number to receive a confirmation code. Note that at the moment registration from the Russian Federation is not available. Registration stages:

    • Log in to Bitso and fill out the form with your personal information and cell phone number.
    • Enter the code you receive on your phone, choose a password and the NIP of the transaction.

    Bitso registration

    After registering, you will be assigned a user ID which you will use to log in to your Bitso account. You will receive an email notification of a successful login to the account, which will include the registration data and the user ID. As for verification, there are 3 levels on Bitso:

    • At Level 1 you can deposit and withdraw up to $5,300 per day. To receive it, confirm the phone number you entered during registration with an SMS code from the service.
    • At level 2, the amount increases to $150,000 per day. To reach it, provide your passport and proof of address. You must also carry out transactions of at least 5,000 pesos and fund your account through the Spei service.
    • Level 3 - corporate with no restrictions on deposits and withdrawals. To obtain it, conclude an agreement with BITSO, providing your documentation.

     

    Deposit and withdrawal

    Since bitso.com is focused on cryptocurrency trading in Mexico, it is possible to deposit and withdraw funds through the Mexican SPEI banking network. There are a total of 3 ways to deposit:

    • International bank transfer;
    • Ripple Gateway;
    • SPEI Network.

    To deposit Mexican pesos (MXN) into your Bitso account, log into your account, go to the "Wallet" section and click "Balances". Go to the MXN section and click the "Fund" icon. Select the method you are going to use to fund your account. It can be cash, a coupon, or SPEI. Follow the instructions on the screen to proceed with the payment. Check the funding limits corresponding to your account level before depositing funds.

    bitso.com recharge

    If you want to deposit bitcoins, click the "Deposit" button in your wallet. Send BTC from your wallet to the address displayed on the screen. You can also use a QR-code - the address to refill in graphic form. The BTCs will appear in the account as soon as they are confirmed by the blockchain 4 times (average time varies from 30 to 60 minutes per confirmation). Before that they will appear as "outstanding deposit".

    To withdraw money, click on "Wallet" and choose one of the withdrawal methods. This can be done from SPEI, to a bank card or cell phone number. Fill out the form that will appear on the screen with the information to make the transfer, and click "Send". If the data is correct, a green message will appear indicating that the withdrawal has been received by the system and will be automatically processed shortly. You can withdraw cryptocurrencies to your personal wallet, to another page or make online payments with them. To do this, do the following:

    • Go to the page with the output methods in the account bitso.com.
    • Fill out the form, enter the amount you want to withdraw and the destination address. The minimum withdrawal amount is 0.001 BTC.
    • Enter the NIP of the transaction and click Submit.

    Bitso withdrawal

    Bitso Crypto Exchange Commission

    For trades that meet the minimum trading volume, the commission charged by Bitso is on average 1%. For volume trades, the service offers discounts depending on the amounts. Thus, the commission can be reduced to 0.1%. When making a deposit, no commission is charged.

    Withdrawal fees

    There is no fee for withdrawal via SPEI and Ripple Gateway. But for withdrawals via Bitcoin and Etherium the fee is 0.001 BTC and 0.0025 ETH respectively.

     

    Bitso bonuses

    The service offers volume trading discounts that reduce commissions from 1% to 0.1%. Bitso has also developed a referral program.

    Bitso referral program

    The Bitso referral program is a system through which you can receive 10% commissions on the amount of transactions of the users you attract. For this purpose, the client receives a link that can be used by his friends and acquaintances. You can see the list of referrals and their profit in your Bitso account. Both the partner and the referral must be of level 2.

     

    Complaints about bitso.com

    In the Russian-speaking segment of reviews of the service bitso.com We were not able to find it. So far it is not popular with users from Russia. There are comments about the platform on Facebook and on several third-party sites. Alongside positive reviews, there are complaints about the slow operation of the platform and high commissions. But the average score for the service is 4.2 out of 5.

    Bitso is a scam

    If there are any complaints about Bitso, we'll be sure to post on social media. Sign up so you don't miss anything!

    Please keep yourself informed about news and complaints. We copy the most valuable information to social networks, so please sign up!

     

    Crypto exchange regulation

    The Legal Information page has information about BITSO BRAZIL, BITSO INTERNATIONAL, NVIO ARGENTINA, and NVIO PAGOS MEXICO. All cryptocurrency-related transactions are handled by Badger Technology Company Limited, registered in Gibraltar at 117775. Bitso International is a regulated DLT provider licensed by the Gibraltar Financial Services Commission under the Investment and Fiduciary Services Act with license number FSC1348B.

    Bitso User Agreement

    The site has all the terms of cooperation and rules for working with the service. The documents contain clauses on registration, parties' obligations, deposits, transactions, withdrawals, fees, transfers and conversions, and force majeure.

    bitso.com customer agreement

    If Bitso International suspects that you may have been manipulated by the market, they will contact you to discuss your strategy. If they are not satisfied with your explanation of your strategy, they will notify you that your trading authorizations will be suspended for the next 24 hours. After that, the account will be closed and you will have 72 hours to withdraw your funds.

    Customer Service

    Bitso Customer Support is a comprehensive help center with the ability to create a feedback ticket. The help center contains frequently asked questions, buying guides, video tutorials and tips.

     

    Is Bitso a scam?

    Bitso - is a secure cryptocurrency exchanger. The Mexican service also supports deposits in fiat currency. Commissions at the exchange are low, and several types of cryptocurrency trading are supported, not just bitcoins. The help center contains a lot of materials to help even beginners to trade cryptocurrency. Reviews about the service are mixed, there are both positive and negative user comments. But given that the site has detailed guides and legal information about Bitso, we can conclude that this is not a scam.

     

    Conclusion

    Having studied the work of BitsoWe have noticed that users from Russia are not yet in demand. Not everyone manages to register on the site, so clients often choose other platforms for trading. I wonder if our readers have not used the service. In order to assess the work of the platform objectively, we would like to know the opinion of those who have had experience with the exchange. You can leave your feedback about the company in the comments below.

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