Comparison of Paybis vs Bitso [ 2024 ]

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

Your expert: Alejandro Borja

paybis

Paybis

  • Threenvest valuation: 3,8/5
  • US legal: Yes
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

bitso

Bitso

  • Threenvest valuation: 3,3/5
  • US legal: No
  • Security: High 4/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

fluctuate

Earns

Yes

Customer service

3/5
0,075%/0,098%

Fees

Yes

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

No

Passive income

Yes

Buy and hold

Yes
Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.7 – Reasonable fees with additional benefits for instant purchases.
3.9 – Competitive fees within Latin America.

Level

fluctuate
0,075%/0,098%

Brief explanation

Paybis structures its commissions to be straightforward and transparent, ensuring that users are well-informed about any costs associated with their transactions. The exchange typically charges a fee on transactions involving fiat to crypto exchanges, with the exact percentage varying depending on the payment method used. For instance, credit card transactions might incur higher fees compared to bank transfers or other payment options. Additionally, Paybis also imposes a conversion fee if a currency conversion is necessary during the transaction. This commitment to clarity allows users to plan their trading activities without worrying about hidden charges.
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.

Paybis

paybis
Read paybis review
  • Security Measures: Paybis implements robust security protocols, including two-factor authentication and advanced encryption, to protect user data and funds. Their commitment to security is evident in their operational history, which is free from any major security breaches.
  • Regulation and Compliance: Paybis operates in compliance with international financial regulations, which adds a layer of legitimacy and trust. They are registered with FinCEN in the United States and comply with KYC (Know Your Customer) and AML (Anti-Money Laundering) guidelines, ensuring a secure trading environment.
  • Customer Service: Paybis is known for its excellent customer support, available 24/7. They provide a wide range of support channels, including live chat and email, ensuring that users can get help whenever needed.
  • Reputation and Reviews: With high ratings on trusted review platforms and positive feedback from users worldwide, Paybis enjoys a solid reputation. Users often praise the platform for its ease of use and the speed of transactions.
  • Transparency: Paybis is transparent about its fee structure and any associated costs of transactions. This transparency is crucial for trust, as users can make informed decisions without worrying about hidden charges.
  • Pros
  • Supports numerous payment methods.
  • User-friendly interface.
  • High transparency of fees.
  • Cons
  • Limited cryptocurrency options.
  • Slower at peak times.

Read paybis review

Bitso

bitso
Read paybis review
  • 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.
  • Pros
  • Supports Mexican Peso for trading.
  • User-friendly mobile application available.
  • Low trading and withdrawal fees.
  • Cons
  • Limited cryptocurrency selection.
  • Geographically restricted availability.

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Product selection

Native token

No
No

Earns

Yes
Yes

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Paybis LTD
Bitso SAPI de CV

Regulation

Regulated in the Reino Unido
Regulated in México

Year founded

2014
2014

Founder

Innokenty Isers
Pablo González, Ben Peters, Daniel Vogel

Payment methods

Transfers

No
Yes

Mastercard

Yes
Yes

Wire transfer

No
No

Card

Yes
Yes

Comparative table

Paybis FEATURES Bitso
Paybis offers a flexible minimum trade amount, making it accessible for beginners to start trading without a significant initial investment.
Minimum Trade
The minimum trade amount is low, enabling accessibility for traders of all sizes.
Paybis charges fees that are somewhat higher than some of its competitors, which might deter frequent traders seeking cost efficiency.
Trading and Transaction Fees
Bitso offers competitive fees, with a sliding scale that benefits high-volume traders.
While Paybis supports popular cryptocurrencies, its selection is limited compared to larger exchanges, impacting traders looking for variety.
Number of Cryptocurrencies
Bitso supports major cryptocurrencies but has a more limited selection compared to larger exchanges.
Paybis has a moderate range of crypto-to-crypto trading pairs, but it lacks the depth found on platforms specifically designed for experienced traders.
Crypto-to-Crypto Trading Pairs
Offers a moderate range of crypto-to-crypto trading pairs, adequate for most traders.
The Paybis website provides clear information about fees and policies, although some users might seek more detailed data on security practices and fund storage.
Website Transparency
Bitso provides clear and detailed information on its operations and security measures.
As Paybis focuses on simplifying the cryptocurrency trading process, it currently lacks additional financial tools like a payment card, which could enhance the versatility and everyday usability of its platform for users.
Credit/Debit Card
Bitso lacks a dedicated exchange card, limiting its utility for in-store cryptocurrency transactions and associated benefits.
Paybis provides secure storage options, but it doesn’t offer as many advanced features like insurance or multiple signature options as some larger platforms.
Storage Offering
Secure storage with cold wallets and multi-signature technology to ensure safety.
Explanation: Limited opportunities for staking or earning rewards on Paybis may deter users looking to profit from holding cryptocurrencies.
Staking and Rewards
Provides some options for staking and rewards but not as extensive as some competitors.
The Paybis mobile app and desktop version are user-friendly and reliable, though they may lack some advanced trading tools found in more specialized apps.
Mobile App and Desktop
Highly functional and user-friendly mobile and desktop platforms that enhance trading experience.
Paybis is highly rated for its customer service, offering quick and helpful support through multiple channels.
Customer Service
Excellent customer support with 24/7 access via multiple channels, including live chat.
Deposits and withdrawals are generally straightforward and quick on Paybis, but fees associated with these processes might be higher than at other exchanges.
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

No
No

Security

High 4,6/5
High 4/5

Additional features

Instant crypto purchases, fiat on/off ramps, Paybis wallet, educational resources
Crypto-to-crypto trading, Bitso Transfer (payment service), staking, educational resources

Anonymity

Yes
No

Key points

Available cryptocurrencies

Limited, primarily major cryptocurrencies
30+

User-friendliness

Paybis offers a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.
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

Provides reasonable value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.
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

Ideal for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.
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
MXN, ARS, BRL, BTC

Account

Trading

Paybis provides a secure platform with easy fiat integration and a decent range of cryptocurrencies. It offers competitive fees but lacks advanced trading tools.
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

Paybis provides multiple deposit options, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.
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

Paybis offers a straightforward and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient 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?

No
Yes

Customer Service

Paybis offers extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, making it reliable for users globally.
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

Paybis employs robust security features, including 2FA and encryption. However, it is not regulated by major financial authorities, which might 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-analista-de-brokers.webp

Alejandro Borja

As one of the experts here at our site, I’d like to highlight that Paybis is a solid choice for both new and seasoned cryptocurrency traders. Its user-friendly interface simplifies the trading process, making it accessible to everyone. While its fee structure could be more competitive, the range of payment options and exceptional customer service make it stand out. Whether you’re making your first cryptocurrency purchase or looking for a reliable platform for frequent trading, Paybis offers a secure and transparent environment to meet your needs.
Xavier-tarraso-mascarell.jpg

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.

View all comparisons against Paybis

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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.

More comparatives Paybis and Bitso