Review on Bitso by Olugbenga Ajayi
An exchange with low withdrawal fee
Most Traders prefer to trade on an exchange that has been out there for a long time and still maintain a good track record of transparency and is still secure. Such exchange is Bitso. It is a Mexican exchange that has been in existence since 2014.
The exchange supports cryptocurrencies like ethereum, Bitcoin, Bitcoin cash and ripple and litecoin. However it only support the Mexican peso.
The exchange offers more than the usual services of an exchange, it has brought crypto currency to the majority of unbanked people in Mexico and it has an inbuilt wallet that allow to deposit and withdraw digital assets conveniently.
My best spot for the exchange is security. The exchange is secured with two factor authentication, multisig which further makes it suitable for corporate use. It also ensure that all traders pass through the AML regulations and they must provide necessary KYC documents.
The transaction fees charged is usually 1% but it traders can pay lower if their trading volume is high. Withdrawal fee place them in an advantage position. It only charge 0.0003 BTC
For deposit it accept bank wire and crypto currency.
Pros
- Very good customer support
- Good security through two factor authentication and multisig
- Ensure that all traders are serious minded by making them undergo AML regulations and KYC
- It is available on mobile
Cons
- Some traders may be offended by the KYC requirements
- It only support a single flat currency which is not a major currency
