Bitso Review 2025

Our Verdict

Bitso (founded in 2014 in Mexico City) is a crypto exchange designed for Latin American users and was the first to support easy crypto purchases with local currencies like Mexican Pesos and Brazilian Reals via bank transfers.

🌎 Available in 160 countries, but primarily focused on the LatAm region.
🪙 Offers around 55 assets and 90 trading pairs.
🔐 KYC is not mandatory, but unverified users face strict deposit and withdrawal limits.
✅ Verified users can withdraw up to $6,000/month, with no deposit limits.
🛡️ High safety standards and no history of security incidents, making it a reliable option for long-term holders.
💰 Spot trading fees are competitive, capped at 0.1% for both makers and takers.
📈 Great choice for beginner traders in Latin America, based on our research.

Bitso Pros and Cons

Is Bitso Right for You?

When reviewing exchanges, we consider all types of traders, from casual to active. Our clear and thorough approach helps break down trading strategies and their requirements. By analyzing and ranking key factors, we assess how well each exchange meets the needs of different trader profiles.

Bitso does not support bots, social or copy trading, DCA, or leveraged trading, making it unsuitable for those strategies. However, it may still be a good fit for other types of traders. Here’s our verdict:

Supported Countries and Regions

Bitso primarily focuses on Latin American countries but extends its services to 160 countries worldwide. The functionality for people outside of LatAm is limited. During my tests, I was unable to set up fiat deposits via any of the offered methods.

The platform also does not operate in the USA. Other restricted regions include:

• China
• Iran
• Iraq
• Montenegro
• Serbia
• Venezuela

The full list of limitations is detailed in Article 22 of Bitso’s Terms of Service.

Bitso Bonuses and Special Offers

Bitso doesn’t offer any bonuses, special offers, or referral rewards. However, FXEmpire readers can access a special referral link. Click below to claim your welcome bonus:

Bitso Background

Establishment: Bitso was founded in 2014 in Mexico, aiming to provide cryptocurrency trading services for Latin America. The company has since expanded, opening offices in Brazil, Gibraltar, and Colombia.

Leadership: Bitso is led by Daniel Vogel, its co-founder and CEO with extensive experience in Xochi Ventures and Bridge Partners. The other co-founder, Ben Peters, is the Director of R&D with a Master’s degree in Computer Science at the University of Manchester. The third member Pablo Gonzalez has co-founded a few other startups, such as Los Dos Uno and Party Pixel.

Security & Transparency

Verified Trusted Scores

When assessing exchanges’ reliability, we pay attention to their rankings from reputable security platforms like Cer.Live and Certik. These independent auditors evaluate various factors, such as liquidity, cybersecurity, and traffic.

Despite implementing standard security measures, Bitso’s rating is only slightly above average. This may be due to the lack of insurance for fiat deposits and the absence of obligatory KYC/AML procedures that enable non-verified users to trade substantial amounts.

Cyber Security Measures. The desktop app is equipped with a password, 2FA via Google Authenticator, and a Transaction PIN. The mobile app sets up biometric authentication by default and doesn’t allow users to make changes.

General Reliability. Bitso runs a bug bounty program via HackerOne, a trusted vulnerability disclosure platform. The rewards for the most critical bugs range between $4,500 and $15,000, corresponding to industry standards.

Corporate Communication Structure and Transparency. The official website for Bitso doesn’t go into much detail about its founder, Daniel Vogel. However, you can easily find his background on LinkedIn. He’s an alum of Harvard Business School and Stanford University, and besides Bitso, he’s also co-founded Bridge Partners and Xochi Ventures. The platform is also active on key social platforms like Telegram, Twitter (X), and LinkedIn.

Know Your Customer. KYC is not mandatory for Bitso users. While testing, I was required to submit basic information (my name and the source of funds), but the platform didn’t require me to upload any documents.

I immediately gained access to the full functionality of the platform but with limited withdrawal and deposit amounts. Increasing account limits is possible by uploading specific documents.

Is Bitso Safe to Trade With?

The security of Bitso raises concerns since it doesn’t provide insurance on fiat deposits and lacks Proof of Reserves for asset coverage. Additionally, its lenient KYC/AML policies allow non-verified users to trade significant amounts of crypto.

However, withdrawal limits for non-verified users are relatively small, reducing the risk of large-scale illicit activities. The exchange has never been hacked, and its users can implement industry-standard security measures to protect their assets. Additionally, Bitso holds a license as a DLT provider №FSC1348B granted by the Gibraltar Financial Services Commission.

Trading Experience

Trading Test

Step 1: Setting Up and Funding Your Account

I started by registering on Bitso using my email address and selecting my country of residence. After completing the form, I verified my email by entering a 6-digit code sent to my inbox.

Next, I provided additional details like my nationality, name, date of birth, job, and source of funds. Surprisingly, no further document uploads were required, and I gained full access to the platform’s functionality.

To fund my account, I chose to transfer USDT from my Bitfinex account, as the other options included fiat uploads via Payoneer or transfers from another Bitso account. The funds appeared in my account within an hour.

Step 2: Trading

Once my funds were in my wallet, I began trading. Unlike platforms like BitMart or KuCoin, Bitso doesn’t differentiate account types, so my funds were ready for trading immediately.

I first exchanged USDT for XRP at the market price. The trade was executed instantly, and a small pop-up window briefly displayed the order confirmation and the fee. The fee, shown in XRP, matched the flat 0.10% rate listed on Bitso’s website.

Afterward, I converted XRP back to USDT using a tight stop-loss order. This transaction took slightly longer but was still completed within seconds.

Step 3: Withdrawal and Review

For my withdrawal, I initially tried to send USDT to my BitMart account. However, the fees displayed on the withdrawal page were high (12.14 USDT via TRON and 5.68 USDT via Ethereum).

To save on costs, I converted my assets back to XRP, which allowed for a free withdrawal. The process was seamless, and the funds reached my wallet in seconds.

Bitso’s crypto withdrawals have proved to be fast and efficient but rather costly, especially with stablecoins. Converting funds into XRP allows avoiding these costs but leaves investors at risk of losing funds due to unpredictable price fluctuations. Funds withdrawals on platforms like Bitfinex or BitMart that charged 0 and 1 USDT correspondingly were much more reasonably priced.

Bitso Desktop Version

Alpha Classic vs Alpha Pro version. The Pro version has a standard layout that meets industry design standards, making it easy for experienced traders to feel at home. Meanwhile, the Classic version offers similar features but looks different and allows you to deposit USDC and trade currencies all on one page. In my tests, I found both versions user-friendly and straightforward, suitable for traders at any level.

In this review, I tested the desktop version of Bitso (Alpha Pro) in the Chrome browser. As a casual trader, I found it relatively easy to use thanks to its user-friendly interface and minimalistic functionality. Although the platform doesn’t offer many advanced trading tools, basic types of orders or creating complex algorithms via API can still be useful for expert traders.

Charts: Bitso’s desktop trading platform comes with built-in TradingView charts that offer a wide variety of drawing tools, such as lines, paths, and curves. Traders can also use more than 40 indicators, such as MACD, Parabolic SAR, and RSI, when performing their analyses. In my opinion, Compared to Bitfinex’s cluttered interface, Bitso provides a much better user experience.

Navigation Ease: I found the navigation process quite simple, as I was able to quickly locate all the features I was interested in. Order execution involved three basic steps: selecting the order type, specifying the price and quantity, and confirming the order in the pop-up window. There was also an option to activate 1-Click-Order to eliminate confirmation.

Withdrawal Navigation: Funds can be withdrawn via the “Wallet” tab, which is accessible from the top menu on most pages. The withdrawal process consists of a few simple steps: selecting the type of transfer, the currency, the withdrawal destination, and the amount, and finally confirming the transaction via PIN and 2FA.

Order Book: Bitso offers a standard Order Book in its trading interface that highlights the list of all open orders for a selected trading pair.

Wallet Protection Measures: Bitso highlights an incorrect withdrawal address but only after pressing the “Continue” button. There is also a QR scanning feature and an option to select a destination from an address book.

Conditional Orders: Bitso offers a few different order types, including Market, Limit, Stop-Loss, and Stop-Limit, which can be found in the drop-down menu when placing an order. However, other order types like Trailing Stop, GTC/GTD, and Day Order are not available.

Staking: Bitso offers a crypto-earning product that enables earning yields on a limited number of assets, with rewards paid out every Monday. During my test, I discovered four coins available for staking: USDC, USDT, Solana (SOL), and Ethereum (ETH). The APY ranged between 2.8% and 5%.

Bitso offers a set of products for business owners in Latin America, including solutions like crypto pay-ins, payouts, and cross-border payments. It also offers a set of robust APIs enabling seamless integration and providing full visibility into all transactions to help businesses scale.

My Key Takeaways After Testing Bitso

Bitso (Alpha Pro) offers a clean and user-friendly interface, making it a good fit for beginners. So far, it is one of the most user-friendly platforms I’ve ever tested, second only to Crypto.com.

However, the number of available tools is rather limited. The platform lacks trading bots, leverage, and P2P trading. It also does not have social or copy-trading features. Traders looking for these tools can consider other platforms like HTX and BitMart.

Bitso Mobile App

The Bitso Mobile App is available for Android and iOS devices. Its set of trading tools closely mirrors the desktop version. The interface is simple, making it a good fit for beginners. Expert traders looking for advanced features like leverage trading or automated trading via bots may consider platforms like KuCoin or HTX.

During my tests, the Bitso Mobile App required both a password and a 2FA code for the first login. However, security settings cannot be adjusted within the app and must be edited on the desktop version. The app also required setting up a mobile PIN and enforced fingerprint authentication, with no option to disable it.

Although the Bitso Mobile App displays deposit and withdrawal buttons, they don’t actually work. When I tried using them, the app simply redirected me to the mobile browser to complete these actions.

The key features of Bitso Mobile include:

• Coin Search: Similar to the desktop version, the mobile app provides a convenient search field.
• Trading Features: The mobile app offers the same set of order types as the desktop version. During my tests, I discovered Market, Limit, Stop-Loss, and Stop-Limit orders.

• Watchlist Management: The app includes a standard star icon for adding and removing assets from the watchlist.
• Portfolio Management: The app displays a comprehensive list of all available assets on the Wallet tab, showing their value in both crypto and fiat equivalents.

My Key Takeaways After Testing Bitso on Bitso Mobile

Bitso Mobile falls short in key areas: it lacks in-app support for deposits and withdrawals, redirecting users to a mobile browser, and requires security settings to be adjusted externally. These limitations can be a significant inconvenience for users seeking a seamless mobile trading experience. Despite these drawbacks, the app maintains the same trading functionality as the desktop version and features a user-friendly interface that is well-suited for beginners.

Fees

Spot Maker/Taker Fees

In our review of spot fees, we examine spot fees across three distinct tiers, focusing on the fees for different trading volumes. We focus on the essentials and potential savings through native tokens and various discount schemes. Our unique methodology provides a clear view of fee structures and how they benefit traders of all levels.

The first tier typically represents casual traders, as they don’t usually trade more than $10,000 per month, while the higher tiers often relate to more advanced traders. Using this method, we’re categorizing users not only by their trading style but also by the amount of money they spend on the exchange.

Additionally, we also compare these fees with industry standards to give a thorough perspective on each exchange’s affordability.

Bitso’s trading fees are lower than the industry average and come on par with Binance and Bydfi, with makers paying slightly less than takers.

Deposit fees

Bitso does not charge any fees for crypto deposits and bank transfers. Payoneer deposits are subject to a 2.9% fee. Other methods like credit/debit cards or digital currency systems like PayPal or AdvCash are not available.

Both Payoneer and bank deposits are available only to users with verified residences in Latin America. Traders from other regions may consider platforms like Binance and KuCoin.

Withdrawal fees

Fiat withdrawals on Bitso are also free of charge but are only available to residents of the LatAm region. Traders from other regions can convert their assets to stablecoins like USDT or USDC to secure their profits.

Crypto withdrawal fees on Bitso are fixed and vary by asset. USDT withdrawals cost 5.28 USDT on Ethereum and 12.14 USDT on TRON. Withdrawals in XRP and some smaller assets are free, as are internal transfers to other Bitso users.

Fee Discounts

Bitso offers fee discounts to high-volume traders. To become eligible for the first-tier discount, traders must reach a specific monthly trading volume, which varies by asset:

• 1,500,000 Mexican Pesos (MXN)
• 541,000 Brazilian Reals (BRL)
• 1,300,000 Argentinian Pesos (ARS)
• 15,000,000 Colombian Pesos (COP)
• 1,000 USDC
• 1 BTC
• 40,000 DAI
• 500,000 USDT

Are Bitso Fees Competitive?

While trading on Bitso, I verified that the fees matched those listed on the official webpage, highlighting the platform’s transparency. Bitso’s trading fees are below the industry average.

However, the limited options for fiat deposits and withdrawals reduce its convenience for users outside the LatAm region.

Fees may vary, so it’s recommended to check Bitso’s official website for the latest updates. Overall, Bitso’s competitive pricing makes it a good option for active traders.

Available Cryptocurrencies

Bitso supports fiat pairs which can be traded against USD, MXN, BRL, and ARS. Additionally, there are stablecoins like USDT, DAI, and USDC.

Deposits & Withdrawals

Bitso Deposit Options

Bitso supports fiat deposits via bank transfer (ACH) and Payoneer in Latin America. The list of accepted fiat currencies includes only local options like Mexican Pesos (MXN) and Brazilian Reals (BRL). The platform does not support other common fiat payment methods, such as P2P, debit/credit cards, or digital payment systems like PayPal and AdvCash, which is a drawback.

Traders seeking broader fiat payment options may consider platforms like BitMart or Changelly, which support multiple fiat payment gateways. Those wishing to directly deposit fiat can also try Crypto.com and Binance.

Bitso Withdrawal Methods

Withdrawals on Bitso generally use the same currencies and methods as deposits, with some exceptions. Most transactions are free and processed within 24 hours.

Bitso Monthly Deposit and Withdrawal Limits

There are no deposit limits on Bitso. However, the platform has strict withdrawal limitations for non-verified users, as shown in the table below. Users wishing to withdraw larger amounts can consider platforms like BitMart or KuCoin.

This information may change, so it is recommended to check the relevant data on the official website.

Customer Service

Bitso Customer Support Test

To evaluate the quality of customer services for diverse user needs, we created a unique trading test. We personally contact support using all available methods and present hypothetical problems that users might face. Our evaluation concentrates on how quickly they respond, the quality of the help provided, and whether we can talk to a real person rather than a bot. This method effectively measures the capability of customer support to assist both active traders and casual investors.

During my tests, I connected with a support agent via Live Chat almost instantly. The agent first asked me to confirm my personal details to ensure my account was secure, before addressing my question.

I encountered an issue while trying to make a fiat deposit via Payoneer, as the service displayed an undefined error on the exchange platform. While the agent couldn’t resolve the issue during our chat, they submitted a ticket for follow-up via email. I received a detailed response within approximately one hour.

Since I couldn’t resolve my problem due to my geographical location, I sent another request through Live Chat about the insurance for customer funds. The agent once again responded almost instantly, providing clear and concise answers to my questions.

The response times for both Live Chat and email were quick. The service provided by Bitso’s support team was significantly better than that of KuCoin.

FAQ