Comparison of Coinmama vs Bitso [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Coinmama vs Bitso comparison!

Your expert: Alejandro Borja

Coinmama

Your expert: Xavier Tarrasó

Bitso

Main points

Fees

≤3,99%

Earns

Yes

Customer service

3/5

0,075%/0,098%

Fees

Yes

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

3.5 – Higher fees but a simple and straightforward buying process.

3.9 – Competitive fees within Latin America.

Level

≤3,99%

0,075%/0,098%

Brief explanation

Coinmama’s fee structure is straightforward and transparent, primarily focusing on transaction fees for buying and selling cryptocurrencies. The platform charges a commission on each purchase, which varies depending on the payment method and the amount of cryptocurrency bought. Typically, fees range from around 3.90% to 5.90%, with lower fees for higher-value transactions. Credit and debit card transactions often incur the higher end of the fee spectrum due to processing costs associated with card payments. This structure ensures users are aware of the costs upfront, aiding in budget management for their investments.

Bitso maintains a competitive edge in the crypto exchange landscape through its straightforward and relatively low fee structure. The platform employs a maker-taker fee model, which incentivizes market liquidity. Makers, who add liquidity by placing limit orders, enjoy lower fees compared to takers, who remove liquidity by executing against existing orders. Fees can vary depending on the user’s 30-day trading volume, promoting more frequent trading by offering decreasing fees for higher volumes. This tiered approach not only supports active traders but also ensures the platform remains accessible to newcomers, keeping initial costs lower than many other exchanges.

Coinmama

Year Founded: Established in 2013, Coinmama has a long-standing history in the cryptocurrency market, indicating stability and experience.
Reputation and Reviews: Coinmama has maintained a positive reputation in the crypto community, supported by favorable user reviews praising its ease of use and reliable service.
Security Methods: Coinmama employs robust security measures, including SSL encryption and two-factor authentication, to protect user accounts and transactions.
Transparency: The exchange is transparent about its fees and processes, providing clear information without hidden charges, which builds user trust.
Customer Service: The platform is known for its responsive and helpful customer support, which enhances trust and reliability.

Bitso

Year Founded: Established in 2014, Bitso has a long-standing presence in the cryptocurrency market. This longevity is a testament to its resilience and adaptability in the rapidly evolving crypto environment.
Security Methods: Bitso employs robust security measures including two-factor authentication, cold storage of digital assets, and multi-signature wallets. These practices ensure a high level of security for user funds and transactions.
Possible Regulation: Bitso is regulated by the Gibraltar Financial Services Commission (GFSC), one of the few cryptocurrency exchanges in Latin America to be overseen by such a respected regulatory body. This regulation reinforces Bitso's commitment to compliance and security standards.
Trading Volume and Liquidity: Bitso provides substantial trading volume and liquidity, making it easier for users to execute trades efficiently and at desired prices. This is particularly beneficial in a market known for its volatility, where trading depth can significantly impact transaction costs and speed.
Customer Service: Bitso offers exceptional customer service with support available 24/7 through multiple channels, including live chat and a comprehensive help center. This dedication to customer support ensures that users' queries and issues are addressed promptly and effectively, enhancing the overall user experience.

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Account Minimum

Get started with just $100.

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Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

Cmama Ltd.

Bitso SAPI de CV

Regulation

Registrado como empresa de servicios monetarios en los EE. UU.

Regulated in México

Year founded

2013

2014

Founder

Asaph Schulman

Pablo González, Ben Peters, Daniel Vogel

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Coinmama	FEATURES	Bitso
Coinmama allows users to buy small amounts of cryptocurrency, making it accessible for beginners or those looking to start with minimal investment.	Minimum Trade	The minimum trade amount is low, enabling accessibility for traders of all sizes.
While reliable, Coinmama’s fees are relatively high compared to other exchanges, which can be a drawback for users making frequent transactions.	Trading and Transaction Fees	Bitso offers competitive fees, with a sliding scale that benefits high-volume traders.
Coinmama supports popular cryptocurrencies but has a limited selection compared to larger platforms, impacting users seeking a wide range of crypto options.	Number of Cryptocurrencies	Bitso supports major cryptocurrencies but has a more limited selection compared to larger exchanges.
Coinmama primarily focuses on direct crypto purchases with fiat and doesn’t offer extensive crypto-to-crypto trading pairs.	Crypto-to-Crypto Trading Pairs	Offers a moderate range of crypto-to-crypto trading pairs, adequate for most traders.
The website provides clear information about its services and fees, though more detailed data on security practices could enhance transparency.	Website Transparency	Bitso provides clear and detailed information on its operations and security measures.
Coinmama does not offer its own exchange card for customers to use for in-store purchases and receive benefits.	Credit/Debit Card	Bitso lacks a dedicated exchange card, limiting its utility for in-store cryptocurrency transactions and associated benefits.
Coinmama does not offer its own wallet service, requiring users to have an external wallet to store purchased cryptocurrencies.	Storage Offering	Secure storage with cold wallets and multi-signature technology to ensure safety.
Currently, Coinmama does not offer staking or rewards programs, which is a significant disadvantage for users looking to earn through their holdings.	Staking and Rewards	Provides some options for staking and rewards but not as extensive as some competitors.
Coinmama offers a functional mobile app and a user-friendly desktop platform, though there are areas for improvement in app functionality and features.	Mobile App and Desktop	Highly functional and user-friendly mobile and desktop platforms that enhance trading experience.
Known for its excellent customer service, Coinmama provides timely and helpful support, significantly enhancing user experience.	Customer Service	Excellent customer support with 24/7 access via multiple channels, including live chat.
Deposits are straightforward, but as Coinmama does not handle withdrawals of fiat currency (only crypto sales), this might limit convenience for some users.	Deposit and Withdraw	Efficient deposit and withdrawal processes, though mainly tailored to Mexican users.

Key features

Analysis tools

No trading tools, primarily a buying platform

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4/5

Additional features

Instant crypto purchases, educational resources, Coinmama Loyalty Program

Crypto-to-crypto trading, Bitso Transfer (payment service), staking, educational resources

Anonymity

Key points

Available cryptocurrencies

10+

30+

User-friendliness

Coinmama offers a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience with essential features easily accessible.

Bitso provides a straightforward and user-friendly interface, ideal for beginners. The platform focuses on making cryptocurrency trading accessible and easy to understand for new users.

Value for money

Offers reasonable value for money with higher fees but a simple and straightforward buying process, making it suitable for beginners.

Delivers decent value for money with competitive fees and a strong presence in Latin America, making it a good choice for regional users.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany

Mexico, Argentina, Brazil

Best for

Best for beginners who want a simple and straightforward buying process, despite higher fees.

Suitable for Latin American investors, particularly those in Mexico, Argentina, and Brazil, looking for a reliable platform with competitive fees.

Base currencies available

USD, EUR, GBP, AUD, CAD

MXN, ARS, BRL, BTC

Account

Trading

Coinmama is a straightforward platform focused on buying and selling major cryptocurrencies with fiat. It has higher fees compared to some exchanges and lacks advanced trading features.

Bitso is the leading exchange in Latin America, offering a variety of cryptocurrencies and easy fiat integration. It is user-friendly but might not have the advanced tools needed by professional traders.

Deposit and withdrawal

Coinmama focuses on buying and selling major cryptocurrencies with fiat. Withdrawals are processed quickly, typically within a day, but fees are higher compared to some exchanges.

Bitso provides easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, typically within a day. Fees are competitive, making it a good choice for Latin American users.

Account opening process

Coinmama provides an easy and quick account registration process. Users need to submit personal details and verify their identity. The process is fully digital and typically takes less than a day to complete.

Bitso’s account opening process is simple and fully digital. Users need to provide personal information and verify their identity. The process is quick, typically taking less than a day to complete.

KYC required?

Yes

Customer Service

Coinmama provides customer support through email and live chat. The support team is responsive, but the lack of 24/7 support can be a limitation for some users.

Bitso provides support through email and live chat. The support team is knowledgeable and responsive, but the lack of 24/7 support may be a drawback for some users.

Security

Coinmama ensures security through 2FA, encryption, and cold storage. Despite its strong security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some investors.

Bitso ensures security through 2FA, encryption, and cold storage. It is regulated by Mexican authorities, providing a secure environment for investors.

Which of these exchanges is for you?

Alejandro Borja

As one of the seasoned experts here at our website, I’d highly recommend Coinmama for anyone looking to get started with cryptocurrencies. Its intuitive interface makes it incredibly easy for newcomers to navigate the crypto buying process. Plus, the option to purchase directly with a credit card adds a level of convenience that’s hard to match. If you’re venturing into the world of crypto and want a straightforward, secure platform, Coinmama should definitely be on your radar.

Xavier Tarrasó

As an expert reviewer on our website, I find Bitso to be a solid choice for traders, especially those based in Latin America. Its strong regulatory compliance, combined with a user-friendly interface and dedicated customer service, makes it a reliable platform. However, if you’re looking for a wider variety of cryptocurrencies or need more global payment options, you might want to explore other exchanges. Nonetheless, for those new to cryptocurrency or primarily trading in Mexican Pesos, Bitso offers an excellent starting point.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.