The financial market has been growing in recent years, becoming a sector that, increasingly, invests in digital services. Therefore, we have gone in search of sites where we can carry out our financial operations using cryptocurrencies, obtaining the best benefits and in a safe way.
Thus, in our search, we have found some places to exchange digital currency where we can perform our operations easily and safely. In this case, we refer to Bitso.
Next, we will tell you what you need to know about this platform.
What is Bitso?
Before explaining you about how Bitso works, we want to put you in a situation, so that you know what exactly this support is.
This exchange was founded in 2014 by Pablo González, Ben Peters and Daniel Vogel, who currently holds the position of president of the company. Bitso is a pioneer in many aspects of its technological innovations, as it continuously updates its services. It has a simple and very complete web portal so that users can carry out their operations.
It is also one of the few exchanges that offers the possibility to carry out transactions with Mexican pesos, that is a high advantage to operate in Latin America, we are going to talk about in the next section.
How does Bitso work?
After having informed us well about everything that Bitso encompasses, we believe that operating through this digital support is one of the best options available in the market today if we want to carry out transactions with cryptocurrencies.
Therefore, we will now tell you more details you should know about this platform. One of the most important things you should know is how Bitso works. This support allows you to work with a large number of cryptocurrencies, although the most chosen by users is Bitcoin.
But not only that, in addition, this platform gives you the possibility to carry out transactions with fiduciary currencies, mainly, with Mexican pesos, since it mainly works in Mexico and Latin America, although it also allows operations in other countries of the world.
But we are going to what interests us in this section, the operation of Bitso. The truth is that this platform has a simple system to work on it, so you do not need to be an expert in the field to be a member of this community.
The first thing you must do to be able to work with Bitso is to register in your web portal, which we have provided in previous paragraphs. Later we will tell you the steps you have to follow for this.
Bitso is presented as an intermediary between the market and users, since it is responsible for locating when two offers coincide to carry out the exchange. For this reason, this digital support does not make any kind of restriction when it comes to users making their transactions.
In addition, this platform is considered intermediary because it does not deal with defining the final cost that users must pay for carrying out these operations, but they themselves will be the ones that fix this price, thus giving Bitso the responsibility of such decision.
After all this, surely you want to know more about this digital support where you can make exchanges between cryptocurrencies and where you can also operate with fiduciary currencies, something that not all platforms of this type can offer you.
Therefore, below we are going to tell you several more things about Bitso, like the steps to follow to register in this support and thus be able to create your account to carry out the financial operations of this type that you wish to carry out.
If you follow these simple steps that we detail in the following section, you will have no problem in creating that account successfully, in the simplest way and in a few minutes. As we have already told you before, the web portal that Bitso has is very simple to use and very intuitive, so you will not have any complications when carrying out this registration.
In addition, its website is available in various languages because they work in Mexico and Latin America too, as we had already mentioned in previous paragraphs, although it is also available in English so that it can be understood in many other places in the world.
Anyway, if you want to be even more informed about other aspects of Bitso, you can follow them through the various social networks they have, where, in addition to knowing more things about this support, you can check the opinions of other users and even share with them your own opinions.
You can also use these social networks to get in touch with the company if you have any questions or you have a problem, although this can also be done from your web portal, as they have a blog where they are publishing different data on this topic.
And without further delay, in the next section we are going to tell you how you can complete the registration that you must do to be part of Bitso and thus create your account to start making financial transactions from it. To do this, you must follow the steps that we tell you below, which are very simple and will only take a few minutes. We can assure you.
How to register in Bitso?
Since we have known everything we need to know about the operation of Bitso, now it’s time to know how to register in the support to create our account and thus be able to operate as soon as possible. For this you must follow the steps that we tell you next and that, as we have said before, are very easy since this platform is very intuitive.
The first step: The process will only take a few minutes and the first thing you should do is go to your web portal, where you will see a box that says “open account“, both in the middle of the screen and in the upper right part of it.
The second step: Clicking on this box (either of them is equally valid) will require you to fill in a form where it asks for certain information, which is the type of account you want to create, an email address, your name and surname, your date of birth, your country of residence and your mobile phone number.
In addition, it will also ask for a password which must be personal and non-transferable for greater security.
We advise you that the password you choose is a minimum of 8 characters, since the more characters you have, the harder it is to hack your account. Also, we recommend that the characters you choose combine numbers and letters, and that those letters are some lowercase and some uppercase.
The third step: After filling out this form with all the information requested, Bitso will send you a message to the email address you have provided in it, in which it will provide you with a link that you must click to validate the registration successfully and thus create your account in this exchange.
Once this is done, it will immediately direct you to another page to complete the registration completely.
The fourth step: Then, it will send you a code that you will have to insert via a text message to your mobile phone and it will also require you to enter your password.
The fifth step: Finally, you must add a PIN in order to carry out the digital financial transactions through your Bitso account.
As you can see, the steps to follow to register in this digital support are very simple and it is also a very fast process. Following these steps faithfully, you will have at your disposal in a short time an active account where you can enjoy the services and tools that Bitso offers its users in its support, thus obtaining a large number of benefits.
Before moving forward in the development of this digital support, we would like to inform you that, in addition to having described all the details about what you should do to register in Bitso, if you have any questions, you can find on the network tutorial videos where you show step by step what we have pointed out in this article.
Subscribe to their Newsletter
Another detail that we want to tell you and that may be of interest to get the most out of your account, is that once you have registered and created your wallet, you can subscribe to their newsletter where you can be aware of everything about Bitso, since you will be sending messages, news and other information to your email address.
In this way, you can be up to date with everything concerning this platform. To do this, you just have to go almost to the end of Bitso’s home page, where you will find a section on your right margin that says “subscribe to our newsletter”.
Below you will find a button that says “subscribe” that you should click and follow the steps indicated, which are easy and fast.
Therefore, once the Bitso account is created, it is time to make use of it by carrying out the financial operations that are desired. For this, we must know a very important aspect of this topic, which is how to buy and sell cryptocurrencies in this support.
It is true that if we do not know how to do it, it will be of little use to have this account, since we will not be able to operate on it. For this reason, so that you are well informed on how to buy and sell digital currency in this platform, we will tell you in the next section how you can do it.
We remind you that Bitso is a very intuitive platform, so it is very easy to use and you will not have any problem when carrying out these transactions that we detail below. So, pay attention to the next section because it interests you to carry out your operations.
Knowing the commissions that Bitso presents us is very important, since, although these additional rates are quite low, we must have them very clear since we are going to have different commissions according to the cryptocurrencies with which we have chosen to work.
In this matter, we will start talking about Bitcoin, since it is the main virtual currency that we have available in the support.
The exchange Bitcoins and Mexican pesos: we will not be able to carry it out until we have generated a volume of Bitcoins for 30 days.
Thus, if the trading volume is between 0 and 1, the maximum commission that we will have to pay will be 1%, while if our volume is between 3,000 and 10,000,000 Bitcoins, then the commission is 0.10%.
As our volume increases, the additional rate is reduced by 0.5% to 0.25% and from there the reduction is 0.2%.
The exchange Bitcoins and Ripple: the trading volume should be between 0 and 100,000,000 and in this case, the commission percentage is 0.15%, the same numbers if we carry out the exchange between Ethereum and Bitcoins or between Bitcoin Cash and the traditional Bitcoin.
The exchange Ethereum and Mexican pesos: if the trading volume we have generated is between 0 and 50, the maximum commission that we must pay is 1% and if this volume ranges between 16,000 and 100,000,000, the drops to 0.10%.
On this occasion, we find that, as we have more business volume, the percentage decreases by 0.5%. As a last piece of information we want to give you, we have to say that to make Bitcoin withdrawals, we will have to pay a commission of about 0.00138773 Bitcoins, approximately, while in the case of Ethereum, this amount is around 0.0025.
Although Bitso has a great variety of commissions that we have to face to carry out our operations, as you have been able to verify, the amounts are not too high and we also have a large margin because we have multiple options to be able to decrease the amount additional we have to pay.
In any case, despite all this, Bitso has become very popular for making all the operations that we can carry out with its support, are very affordable. Their commissions at no time prevent enjoy a transparent and quality service that provides confidence to see the professionalism deposited by those responsible for each of the characteristics of the platform.
How to buy/sell cryptocurrencies in Bitso?
We continue to make progress in our Bitso review and now the time has come to know what steps we must take to be able to buy or sell cryptocurrencies through this support.
In any case, we have to tell you that all these transactions to which we refer, will always be related to Bitcoins, and in this sense, the system provides us with two options to perform the process of buying or selling cryptocurrencies.
In both cases, the results that we can get are quite good, although depending on the operation we want to perform and the objective we set, we will have to choose between one type of operation or another. To be clear about the options we have available in Bitso, we explain them in more detail below.
The first type of operation to which we are going to refer is what is known as a quick purchase or sale process. As the name suggests, these are operations that are carried out practically instantaneously, because we will not take too long to perform them correctly.
In this matter, we have to say that if we choose to carry out this type of operation with Bitso, it is important that we are clear that both the purchase and the sale of cryptocurrencies are going to be made with reference to the market price.
What is done on this occasion is to consult the order book and later, we will have to place an order in it, taking into account that the price we set is specific, that is, it is the cost that cryptocurrencies present in the market at that we are referring to.
How does the order book work?
It is necessary to be clear that, to carry out this type of operations, the order book is a very important element, since it will be where we place all the orders that we need, in order to carry out the operations in a successful way.
You must remember that in this book we have the opportunity to add orders of all kinds and almost unlimited, which is a very advantageous tool for us, since it offers us all kinds of facilities. In any case, you also have to be very aware that quick buying or selling operations take an established order.
That is to say, as we are explaining to you, the orders that we include, are added within this order, but we can not do them all at once, they are included in a sequence. Remember that the first orders that appear in the book are those that will be executed first and so on.
With this, if we need an order to be executed with priority, we must highlight it in the order book to which we are referring.
These are operations that are very simple to carry out, taking into account that the system will always try to get us the greatest benefits, since what it does is detect the moment in which our established order coincides with the best price that the cryptocurrency we have chosen has acquired in the market.
Thus, we ensure that we will be able to obtain a large number of profits, so it is very advantageous operations with which we can acquire many benefits.
Undoubtedly, fast buying or selling operations are the most popular in Bitso, since a large number of users use them to perform these movements.
In any case, we have to say that they are not the only ones that are available in this support, since, as we anticipated in the introduction of this section, we can also opt for another type of operations known as limited order.
To learn more about how they work, let’s see what we tell you next.
Limited order trading
In addition to the quick purchase or sale operations, Bitso offers a second option, which is known as trading limited order. As in the previous case, this time the name of the type of operation can already give us a clue of what we are going to find, since if we want to make these movements, we must carry out other steps previously established.
In this sense, we have to say that this type of orders are not going to be made using the order book, but that, for that, we will have to go directly to the trading page that we have enabled in this fantastic support.
Put your price
Once we are in it, we can start to operate, although we must take into account how the market is at all times and the price of cryptocurrencies. For this, Bitso provides us with a large number of very useful tools, which will facilitate all this work.
In any case, this query is an indicative way, because, unlike the previous type of operation, with limited order trading we do not have to look at the price that the cryptocurrency we have chosen in the market presents, since here what we are going to do is make our own offer.
What we mean by this is that, if we want to carry out this operation, the supply or demand that users make will prevail. We can use the market price to guide us, but we will always have the last word.
In this case, for the only thing that we will have to use the order book, is to launch an offer to the market where we fix ourselves the price of the cryptocurrency. Again, the system is responsible for detecting the offers or demands that have been made by all the users that are part of the support and is responsible for the corresponding operation to be carried out satisfactorily.
Therefore, if we want to use the limited order trading, the purchase or sale operations will always be done according to the price established by the users.
In this sense, we must also bear in mind that this type of operations are somewhat slower than the previous ones, it can happen that a movement is made instantaneously, although it is not usual, for this reason, they always take longer than the others and that is why they are less used by users.
Since the majority, aims to get the greatest number of benefits in the shortest time possible.
As you can see, once again, Bitso makes it very easy for us to carry out our operations, but we must bear in mind that, whatever option we have chosen to work with our cryptocurrencies, we are always obliged to have funds in our account or otherwise, we can not make any movement in this regard.
After seeing the operations that we can carry out with this support, to finalize our article, we have included one more section, where we will talk to you in great detail, about the commissions that we find in this support, since it is also about a very important aspect that we must take into account if we want to achieve success.
After having analyzed in detail all the services and tools offered by Bitso, we are quite clear that it is one of the best supports that we can use to work with cryptocurrencies. It has good security measures and, in addition, it also provides us with multiple options so that we can obtain the greatest number of benefits.
Without a doubt, if we were looking for an adequate support to be able to carry out operations with digital currencies, Bitso is one of the best options that we can use, since it has a great experience in the market and offers us a large number of services with the best guarantee.
In short, we are convinced that Bitso is the support we need, so now all we have to do is register in the support and start enjoying all its advantages.