Review on Bitso by Fanuel PORPORTY
Cryptocurrency exchange
Created in 2014, Bitso was designed to bring the potential of cryptocurrencies to Mexico, it seems to have been successful, as it is currently one of the main cryptocurrency exchanges in Latin America. It accepts deposits in Mexican peso and facilitates the trading of some of the most popular coins. Trading costs are unfortunately high, but discounts apply to high volume traders. Of course, the key problem for many companies in the cryptocurrency field is counterparty risk and Bitso is no exception. It is not regulated, as is the case with most crypto exchanges around the world.
Pros
- Fiat accepted, free-of-charge bank transfers
- Transparent pricing, competitive coin-to coin trading fees
- Beginner-friendly
- Wallet service available
Cons
- Mainly suitable for Mexican
- High trading fees for MXN pairs
- No leveraged trading
- Trading platform too basic
