BITSO: Overview, Registration and Exchange Reviews

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Bitso reviews and review of the official website of the exchange

BITSO is a digital cryptocurrency exchange platform (BTC, ETH, RXP, LTC, BCH, TUSD) for fiat (Mexican peso).

The BITSO team is doing everything so that users have the opportunity to pay for goods with cryptocurrency in Latin America.

 Benefits

  • The ability to enter and withdraw fiat from a bank card instantly and without commission
  • Good security system
  • API support
  • MULTI-SIG Wallets
  • There is a mobile application for iOS and Android
  • Full check of a coin before inclusion in listing – on BITSO you will not find a single scam coin
  • There are video tutorials and detailed instructions for all operations on BITSO.

Check in

To register, click and fill in the form that opens.

  1. Choose an account type – Personal
  2. We write Email – we recommend using mail from Google, since it is considered the most protected from hacking
  3. Repeat Email
  4. Enter your name
  5. Write your last name
  6. Indicate the date of birth
  7. Choose your country of residence
  8. Writing a mobile number
  9. Check the boxes that you agree with the privacy policy, the rules for using the platform and that you agree with the changes in all used BITSO products
  10. Click ‘Next’

The following form opens – fill out.

  1. We invent a password – it must be complicated, that is, contain uppercase and lowercase letters, numbers, signs and consist of 10-20 characters
  2. Repeat password
  3. We come up with a pin code – any 4 digits
  4. We tick off that you are not a robot
  5. Click ‘Next’

Further, the system will generate a personalized client code for you – this is your username under which you will go to the BITSO exchange. Be sure to write it on paper!

Then you need to confirm the registration by mail. To do this, go to the mailbox specified during registration and look for a message from BITSO – click on the link provided in the letter.

The system sends us to the main page – here you need to log in using your client ID specified during registration and sent by e-mail (in a letter confirming registration).

Done! You are listed on the BITSO exchange. However, before you start trading and depositing funds, you need to pass verification.

Verification

Verification (verification of identity) on the exchange is necessary. There are 3 levels of account verification.

 Level 1. You can deposit and withdraw funds equivalent to $ 5,300 per day

To do this, confirm the phone number that you entered during registration. You will receive SMS – enter it in a special form.

Level 2. You can deposit and withdraw funds equivalent to $ 150,000 per day.

To do this, provide the following data:

  • The passport
  • Proof of residence (e.g. electricity bill)
  • You have completed transactions with a valuation of at least 5000 pesos
  • You replenished your account through Spei.

Level 3. This is the corporate level. There is no restriction on deposit and withdrawal of funds

Necessary:

  • Conclude an agreement with representatives of BITSO
  • Confirm occupation – provide documentation

The Bytwork team tried to verify the phone number from 4 accounts. We never managed to reach the 1st level of verification – the system gives the following error:

“+7” is written 2 times: at the beginning of the form and before the phone number itself. In this case, the system simply writes that the number is not valid, and if you remove “+7” in front of the number, then this warning appears:

There was an unexpected error when trying to save your data. Please contact support.

You can try to write to the support team, but this is unlikely to lead to any result.

If you did not succeed in going through the initial verification procedure, then you will not be able to deposit money on the exchange! In this case, we advise you to look for other exchanges with the coins you need in this section of our site – reviews on various cryptocurrency exchanges are collected here: instructions for each action on the exchange, tips, estimates, reviews.

If you did not have problems with confirming the phone number and registration was successful, we proceed to setting up the profile and depositing funds.

Profile Security Setting

After you have verified your account – that is, you have switched to the 1st level of verification, we recommend that you set up profile protection.

To do this, set up two-factor authentication from Google – today it best protects your account on the Internet.

 Deposit funds

To enter cryptocurrency on the exchange, you need to select the ‘Wallet’ section in the account menu.

Next, in the section of the coin that we want to enter on the exchange, click on the arrow “Fund”.

On the page that opens, the digital wallet address of the selected coin is automatically generated. We copy the wallet address and paste it into the “Recipient address” column in that wallet (on the exchange, in the exchanger, cold wallet, etc.) from which we want to transfer coins to the exchange.

We send the coins and wait for them to arrive on the wallet on the BITSO exchange.

Withdraw funds from the exchange

To withdraw funds in the “Wallet” tab in the section of the coin that we want to withdraw from the exchange, click on “Withdraw” and fill out the form that opens:

  • Enter the number of coins that we want to withdraw
  • Insert the wallet address to which we will send the coins
  • Click ‘Withdraw’

Done! We are waiting for the transfer of coins to the specified wallet.

Output

This marketplace seeks to popularize cryptocurrency in Latin America – thanks to it, some stores already accept cryptocurrency for payment.

The exchange supports various projects, including charitable ones. You can read about them on the BITSO blog.

As for the trading platform itself, it is not in vain that it is so popular in Mexico: a good security system, mandatory verification, various training instructions, and so on. All this allows absolutely everyone to join the world of cryptocurrencies. This is facilitated by interest-free input and withdrawal of the peso (but this is offset by a large trading commission).

BITSO exchange is good for everyone, except for verification bugs. We described above that when trying to confirm a phone number, the system gives an error. Accordingly, to enter the currency and start trading is unrealistic.

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