Bitso - bitso.com REVIEW, TRADING VOLUME AND PAIRS
The Mexican cryptocurrency exchange Bitso was launched in 2014. Now it provides the opportunity to buy Bitcoin and other cryptographic assets for the Peso. The official website of bitso.com was translated into English and Spanish languages. A special feature of the platform is the option of instant deposits through the SPEI banking system operating in Mexico.
Trading here is conducted with Bitcoin and the fiat Peso. The list of digital assets available for purchase includes 9 coins, including XRP, Bitcoin, Ethereum, Litecoin, Decentraland, BAT, Bitcoin Cash, TUSD, and Golem. At the same time, more than 80% of trades account for two pairs – XRP/MXN and BTC/MXN.
The exchange interface is simple and concise. At the top of the website, there is a drop-down menu with all available currency pairs. If you click on the pair you are interested in, you will see information about the market, including:
• Japanese price chart;
• Daily minimums/maximums;
• Trading blotter.
In the “basement” of the website, you will see forms for contacting the support service, information about commission fees, and conditions for users. All functional elements of the platform are intuitively accessible and logical.
Advantages and disadvantages of Bitso
Among the advantages we can highlight:
• Moderate trading commissions (from 0.1% to 1% depending on the trading volume);
• Ability to deposit fiat Peso;
• The developed offline infrastructure of the exchange;
• Well-protected multi-signature wallets;
• Storing user funds on secure cold wallets;
• Availability of the mobile version of the exchange for Android and iOS devices;
• Possibility for a verified customer to earn on referrals;
• Positioning as an international trading platform.
Several disadvantages, including:
• Poor selection of tools for the trader;
• The absence of limit and stop orders;
• The inconvenience of price tied to the Peso;
• The lack of margin trading option;
• A limited selection of coins to buy.
Traditionally, customer reviews indicate that users are satisfied with the exchange. First of all, it would be of interest to residents of Mexico, however, non-residents will also find it worthy.
bitso.com developers have taken security issues seriously. The exchange complies with the KYC protocol standards, which negates fraud on the platform. The system checks the phone number and contact email of users. The next level of control includes passport data and proof of residence. At the same time, the exchange closely interacts with national regulators in the context of implementing the regulatory framework governing the crypto-economy. Transparency and openness are part of Bitso's global strategy, which is being successfully implemented.
Bitso cryptocurrency platform is one of the few projects that accept the Mexican Peso as a deposit. Despite the rather poor tools for technical analysis of markets, the platform has great ambitions to occupy a serious niche among services that perform transfers of cryptographic assets between counterparties.
bitso.com has established itself as a reliable security exchange. It was not subjected to serious hacks, and any shortcomings of an engineering nature were eliminated by the company's specialists as soon as possible. At the same time, platform will not be of much interest to experienced traders due to the lack of trading tools and considerable trading commissions.