Comparison of Blocktrade vs Bitso [ 2024 ]

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

Your expert: Alejandro Borja

blocktrade

Blocktrade

  • Threenvest valuation: 3,7/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Your expert: Xavier Tarrasó

bitso

Bitso

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

Main points

Fees

0,30%

Earns

No

Customer service

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

Fees

Yes

Earns

4/5

Customer service


Recommended for

Beginners

No

Trading

No

Passive income

No

Buy and hold

Yes
Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.9 – Competitive fees with additional benefits for European traders.
3.9 – Competitive fees within Latin America.

Level

0,30%
0,075%/0,098%

Brief explanation

Blocktrade employs a competitive and transparent fee structure that aligns well with industry standards, making it a cost-effective choice for traders. The platform charges a flat trading fee which is comparable to, if not slightly below, the average fees charged by other exchanges. This straightforward approach ensures that traders can engage in transactions without worrying about variable costs based on the type of trade or the asset being traded. Additionally, Blocktrade does not impose high withdrawal fees, keeping them reasonable and ensuring that users retain most of their earnings. This fee structure is particularly advantageous for frequent traders and those dealing in smaller amounts, as it minimizes the impact of fees on overall investment returns. The clarity and fairness of the fee system at Blocktrade contribute significantly to its attractiveness as a trading platform, especially for those new to the cryptocurrency markets or looking for a cost-effective trading solution.
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.

Blocktrade

blocktrade
Go exchange
  • Possible Regulation: Blocktrade operates under the regulatory oversight of the Estonian Financial Intelligence Unit and has a legal entity registered in Luxembourg. This adherence to stringent European financial laws ensures a high level of operational integrity and compliance, making it a trustworthy platform for traders.
  • Security Methods: The platform employs advanced security measures to protect user assets and data. These include the use of secure servers, encryption protocols, and a robust internal security framework. The commitment to security is crucial in gaining and maintaining the trust of users.
  • Transparency: Blocktrade is known for its clear and transparent operational practices. This includes straightforward disclosures about trading fees and the risks associated with trading cryptocurrencies. Such transparency is essential for building trust with users who value clear and honest communication.
  • Customer Service: Blocktrade offers dedicated customer support, providing users with timely and helpful assistance on a range of issues, from technical support to transaction inquiries. Good customer service is instrumental in building trust, as it ensures users that the exchange is responsive and attentive to their needs.
  • Trading Volume and Liquidity: While not among the largest, Blocktrade maintains a healthy trading volume and liquidity, which indicates a stable trading environment. This liquidity is vital for users to execute trades efficiently without significant price slippage, further enhancing trust in the platform’s capabilities.
  • Pros
  • Regulated by EU authority.
  • Supports fiat and cryptocurrency deposits.
  • Offers mobile trading applications.
  • Cons
  • Limited cryptocurrency selection.
  • No passive income features.

Bitso

bitso
Go exchange
  • 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

No
Yes

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Blocktrade S.A.
Bitso SAPI de CV

Regulation

Regulated in the UE
Regulated in México

Year founded

2018
2014

Founder

Luka Gubo
Pablo González, Ben Peters, Daniel Vogel

Payment methods

Transfers

No
Yes

Mastercard

No
Yes

Wire transfer

No
No

Card

No
Yes

Comparative table

Blocktrade FEATURES Bitso
Blocktrade allows users to start trading with as little as 1 USD for cryptocurrencies and 3 EUR for fiat, making it accessible for beginners and those testing the platform.
Minimum Trade
The minimum trade amount is low, enabling accessibility for traders of all sizes.
Fees are competitive within the industry, typically aligning with or slightly better than average, which benefits frequent traders.
Trading and Transaction Fees
Bitso offers competitive fees, with a sliding scale that benefits high-volume traders.
Currently supports only 8 cryptocurrencies, which may be limiting for those looking to diversify beyond the most common coins.
Number of Cryptocurrencies
Bitso supports major cryptocurrencies but has a more limited selection compared to larger exchanges.
Offers a basic range of crypto-to-crypto trading pairs, sufficient for new traders but less so for advanced users.
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 trading conditions and fees, though some users might seek more detailed data on security practices.
Website Transparency
Bitso provides clear and detailed information on its operations and security measures.
Lacking a dedicated exchange card, Blocktrade misses an opportunity to provide additional convenience and value to its users through card-linked benefits.
Credit/Debit Card
Bitso lacks a dedicated exchange card, limiting its utility for in-store cryptocurrency transactions and associated benefits.
Offers secure cold storage options, but lacks some of the more advanced custody solutions available on other platforms.
Storage Offering
Secure storage with cold wallets and multi-signature technology to ensure safety.
Does not currently offer staking or other passive income/reward programs, which could detract from its appeal to long-term investors.
Staking and Rewards
Provides some options for staking and rewards but not as extensive as some competitors.
Both the mobile app and desktop platform are user-friendly and well-designed, making trading accessible for all user levels.
Mobile App and Desktop
Highly functional and user-friendly mobile and desktop platforms that enhance trading experience.
Generally responsive customer service with multiple channels available, though peak times can see delayed responses.
Customer Service
Excellent customer support with 24/7 access via multiple channels, including live chat.
Supports multiple deposit and withdrawal methods including EUR transactions, but the options for other fiat currencies are limited.
Deposit and Withdraw
Efficient deposit and withdrawal processes, though mainly tailored to Mexican users.

Key features

Analysis tools

Basic charting tools
Basic charting tools

Mobile APP

No
No

Security

High 4,6/5
High 4/5

Additional features

Staking, Blocktrade Earn program, advanced trading tools, fiat on/off ramps
Crypto-to-crypto trading, Bitso Transfer (payment service), staking, educational resources

Anonymity

Yes
No

Key points

Available cryptocurrencies

10+
30+

User-friendliness

Blocktrade provides a straightforward and easy-to-use platform, 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 decent value for money with competitive fees and a focus on European markets, making it a good choice for regional users.
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

Germany, Austria, Switzerland, Slovenia, France
Mexico, Argentina, Brazil

Best for

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

Base currencies available

EUR, BTC
MXN, ARS, BRL, BTC

Account

Trading

Blocktrade offers a straightforward trading experience with a limited selection of cryptocurrencies. It focuses on security and ease of use, making it suitable for beginners.
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

Blocktrade provides standard deposit and withdrawal methods, including bank transfers and crypto deposits. Withdrawal times are moderate, and fees are generally low.
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

Blocktrade’s account opening process is simple and fully digital. Users need to submit personal details and verify their identity. The process is quick 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

Blocktrade provides support via 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.
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

Blocktrade ensures security through 2FA, encryption, and cold storage. It is not regulated by top-tier financial authorities, which might be a concern for some users.
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 an expert reviewer on our website, I highly recommend Blocktrade for traders seeking a secure and regulatory-compliant platform. Its strong adherence to European financial regulations ensures a secure trading environment, which is crucial given the volatile nature of cryptocurrencies. If you’re looking for a straightforward, reliable exchange with competitive fees and solid customer support, Blocktrade should definitely be on your radar.
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.

Read blocktrade review

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Read bitso review

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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.

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