Bitso
Bitso is a Mexican Bitcoin exchange that operates a BTC/MXN market with support for instant deposits and withdrawals through Mexico’s SPEI banking system. A buy/sell order is executed partially or in full when the price bid can be matched against a sell/buy order that is at or below the bid amount. Bitso exchange was established in 2014. It allows customers to exchange bitcoin and Ethereum on the Mexican peso. For Fiat used payment gateway Ripple.
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Description
Bitso is committed to developing efficient financial services in Mexico. Today, the platform also provides an opportunity to pay for various online purchases, as well as to carry out mutual p2p-lending.
Despite the strict regulatory requirements in Mexico, Bitsa currently has a client base of about 20,000 Users and a weekly transaction volume of about $2.5 million.
History
The exchange was announced on April, 2014. Bitso.com is owned and operated by Bitso S.A.P.I. de C.V. and based in Mexico City, Mexico.
Depositing funds
BTC
There are no fees incurred when transferring bitcoins for deposit. Funds are available once confirmed (4 confirms), a process that can take roughly 40 minutes.
MXN
Exchange accepts instant MXN deposits via SPEI transfers.<br/> No fees for deposits & withdrawals via SPEI transfer.
Withdrawing funds
MXN
Exchange accepts instant MXN withdrawals via SPEI transfers.<br/> No fees for deposits & withdrawals via SPEI transfer.
Fees
Bitso charges a trading fee from each party of successful trades made through the market. The amount of the fee will vary based on a 30 day trading history. The rate for new accounts and those with the lowest volume is 1%. Refer to determine discount levels.
Account Security
Access to an account may be protected with the optional Two Factor Authorization.
Language Support
The site has support for various languages:
- English
- Spanish
API
API is available https://bitso.com/api_info?l=en <br/> It mirror’s Bitstamp’s API
Data Services
Linux
- Dojima market client
Web
Bitso in news
Mexican bitcoin exchange Bitsa announced the receipt of investments for $ 2.5 million. Funds came from several investors, including local venture companies Variv Capital and Xochi Ventures, Mexican Forex broker Monex Group, as well as American companies Digital Currency Group (DCG), FundersClub, Bitcoin Capital and Blockchain Tech Limited.
Earlier DSG and FundersClub also participated in the seed round of Bitso investments for $1.85 million. According to the President of the exchange Daniel Vogel, the expertise of investors will help start-up grow and probably start to operate outside Mexico.
“We are very interested in the rest of Latin America. There are places with very high activity of bitcoin users, but there are also places where everything is very quiet. I think such places are very interesting,” Vogel said in his speech at the Sibos financial forum in Geneva.
The investments received came in two tranches, the last of which was closed last week. The first tranche was in may, after which Bitso was able to hire six new employees. Now their number, according to Vogel, should grow to fifteen. According to the President of the exchange, this is quite an achievable goal, given that the average salary of programmers in Mexico is about $20,000 a year, which is five times less than what their colleagues in the United States receive.
External Links
Bitso web site
@Bitso on Twitter