Bitso Fees and Minimum Deposit - TU Expert review
After considering a crypto exchange’s security, examining its fees is the next crucial step. Lower fees translate to higher potential profits. Newcomers to crypto trading may also want to consider the minimum deposit required to start trading, as they might prefer to begin with a smaller investment.
Traders Union analysts have assessed Bitso fees and minimum deposit requirements to help prospective crypto traders make informed decisions.
Short introduction of Bitso
The Bitso exchange is a platform for exchanging, buying, and selling cryptocurrencies. Bitcoin, Ethereum, TrueUSD, Ripple, DAI, Litecoin, Decentraland, BitcoinCash, and BAT are traded on this exchange. There are crypto-to-crypto and crypto-to-fiat pairs. Fiat funds are represented by the US dollar, Mexican peso, Argentine peso, and Brazilian real. The minimum deposit is $100. The crypto exchange has a standard TradingView web terminal and a mobile application. The site is localized in three languages - English, Spanish, and Portuguese. Among the features are a high level of protection of users’ data, an intuitive trading terminal, no referral or investment programs, and a flexible system of commissions, which depends on the selected market.
👍 Advantages of trading with Bitso:
•crypto-crypto and crypto-fiat trading without restrictions;
•9 cryptocurrencies and 4 world currencies;
•there is a web terminal and an application for mobile trading;
•the most simplified system for exchanging and trading cryptocurrencies;
•a multi-wallet can be used to store cryptocurrencies;
•emphasis on ensuring the security of users’ funds and data;
•Help Center with many structured sections.
👎 Disadvantages of Bitso:
•significant minimum deposit ($100);
•no demo account or training courses;
•no referral or investment programs.
Bitso Commissions and Fees
The Bitso cryptocurrency exchange offers a commission and fee system that is quite different from the solutions of other crypto exchanges. It is based on two factors – the market and trading volume. It offers six markets with different fees. Thus, the Bitso markets to the:
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Mexican peso (MXN);
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Bitcoin (BTC);
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Argentine peso (ARS);
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stablecoin DAI;
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US dollar (USD);
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Brazilian real (BRL).
Within the markets, the commissions are different for the maker and the taker. Also, the size of the commission is calculated based on the trader’s trading volume for the last 30 days. The actual trading volume (called the trading level) is recalculated daily. New commissions are applied the next day after the change in the trading level is fixed.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | from 0.05% | Yes |
A broker is an intermediary between a trader and an exchange. Therefore, brokers charge fees for their services. The fees may have different structure.
There are the following fees in the Crypto market:
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Spread – the difference between the buy and the sell price of an asset.
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Commission per lot.
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Commission per trade.
Broker fees may differ depending on the trading account type. For example, on some accounts spread is used as a trading fee, and on others – commission per lot.
Why is it important to consider the minimum deposit at a cryptocurrency exchange?
Accessibility: The minimum deposit helps traders determine if they can afford to start trading on an exchange.
Risk Management: Exchange-set minimum deposits ensure traders have sufficient funds to cover potential losses and fees, preventing financial overextension.
Platform Suitability: The minimum deposit amount can be an indicator of the exchange’s target audience and trading volume, aiding traders in selecting a platform aligned with their goals.
Cost Considerations: Assessing minimum deposit requirements helps traders account for trading expenses.
Are the fees and minimum deposit requirements at Bitso suitable for beginners?
Analysis of Bitso shows that the broker has a rather high minimum deposit. It could pose a problem for traders, who are only starting their path in trading. Nevertheless, the fees are low. Therefore, the broker will be a good choice for professional traders.
FAQs
What deposit amount should a beginner start with?
Some brokers offer a minimum deposit of $1. However, it is recommended to deposit at least $300-500 to the account to be able to trade fully.
Can the level of fees differ for cent and standard accounts?
Yes. On cent accounts, the fees are generally lower than on standard accounts.
Why do some brokers set a high minimum deposit?
Many companies with high minimum deposits are focused on working with professional traders with experience and large capital. Therefore, they set a high entry threshold.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.