Comparison of Luno vs Bitso [ 2024 ]

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

Your expert: Alejandro Borja

luno

Luno

  • Threenvest valuation: 3,6/5
  • US legal: Yes
  • Security: High 4,5/5
  • Mobile App: Yes
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

≤0,10%

Earns

No

Customer service

4/5
0,075%/0,098%

Fees

Yes

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

No

Passive income

No

Buy and hold

Yes
Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.8 – Reasonable fees with strong local support in emerging markets.
3.9 – Competitive fees within Latin America.

Level

≤0,10%
0,075%/0,098%

Brief explanation

Luno operates with a transparent and competitive commission structure that varies based on the type of transaction and the user’s activity level. For trading, Luno typically charges a tiered fee, which decreases as the user’s monthly trading volume increases, incentivizing high-frequency traders with lower rates. The fees for buying and selling cryptocurrencies are calculated either as a percentage of the transaction amount or as a flat rate, depending on the currency and payment method used. Deposit fees vary by payment method, with options like bank transfers often being free, while credit or debit card transactions may incur higher fees. Withdrawal fees also vary, generally depending on the network fees of the cryptocurrency being withdrawn and the urgency of the transaction. This fee structure is designed to be straightforward, allowing users to easily understand the costs associated with their trading and financial movements on the platform.
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.

Luno

luno
Read luno review
  • Year Founded: Since its inception in 2013, Luno has built a long-standing reputation in the cryptocurrency market. This longevity serves as a testament to its resilience and adaptability in the ever-evolving crypto landscape.
  • Security Methods: Luno prioritizes the security of its users' assets through robust security protocols, including state-of-the-art encryption and secure storage measures. These efforts ensure that users' investments are protected from external threats and vulnerabilities.
  • Possible Regulation: Luno’s commitment to regulatory compliance in each market it operates in reinforces its reputation as a trustworthy platform. By adhering to local financial regulations and guidelines, Luno provides a secure trading environment that aligns with legal standards.
  • Reputation and Reviews: The platform has garnered positive feedback from users globally, reflected in its favorable reviews across various consumer platforms. This positive reputation highlights user satisfaction with Luno's services and its effectiveness in meeting trader needs.
  • Trading Volume and Liquidity: Luno maintains a healthy trading volume and liquidity, ensuring that users can execute trades efficiently without significant price slippage. This reliability in trading performance makes Luno a preferred option for many traders looking to buy and sell cryptocurrencies.
  • Pros
  • User-friendly interface for beginners.
  • Strong security protocols enhance safety.
  • Supports a variety of cryptocurrencies.
  • Cons
  • Limited global reach.
  • Fewer advanced trading features.

Read luno review

Bitso

bitso
Read luno 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

No
Yes

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Luno Pte Ltd.
Bitso SAPI de CV

Regulation

Regulated in Singapur y Sudáfrica
Regulated in México

Year founded

2013
2014

Founder

Marcus Swanepoel
Pablo González, Ben Peters, Daniel Vogel

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
Yes

Wire transfer

No
No

Card

Yes
Yes

Comparative table

Luno FEATURES Bitso
Luno allows small minimum trades, making it accessible for beginners to start with lower amounts.
Minimum Trade
The minimum trade amount is low, enabling accessibility for traders of all sizes.
Luno’s fees are competitive but can vary by region and payment method, which may impact cost efficiency for some users.
Trading and Transaction Fees
Bitso offers competitive fees, with a sliding scale that benefits high-volume traders.
Luno offers a selection of the most popular cryptocurrencies but has a more limited range compared to larger exchanges.
Number of Cryptocurrencies
Bitso supports major cryptocurrencies but has a more limited selection compared to larger exchanges.
Luno provides a few crypto-to-crypto trading pairs, focusing more on fiat to crypto transactions which limits trading strategies.
Crypto-to-Crypto Trading Pairs
Offers a moderate range of crypto-to-crypto trading pairs, adequate for most traders.
The Luno website provides clear information on fees, policies, and company details, although some users may seek more depth in certain areas.
Website Transparency
Bitso provides clear and detailed information on its operations and security measures.
The Luno card effectively integrates with their service offering, providing convenience and accessibility for in-store purchases while also facilitating easy conversion from crypto to fiat. This feature enhances user experience by expanding the usability of cryptocurrencies in everyday life. However, availability may vary by region, which is why it doesn’t achieve a perfect score.
Credit/Debit Card
Bitso lacks a dedicated exchange card, limiting its utility for in-store cryptocurrency transactions and associated benefits.
Luno excels in secure cryptocurrency storage solutions, offering integrated wallets with advanced security measures.
Storage Offering
Secure storage with cold wallets and multi-signature technology to ensure safety.
Currently, Luno has limited options for staking and rewards, which could be an area for future development to enhance user returns.
Staking and Rewards
Provides some options for staking and rewards but not as extensive as some competitors.
Luno’s mobile app and desktop platform are highly user-friendly, offering intuitive navigation and robust functionality for all user levels.
Mobile App and Desktop
Highly functional and user-friendly mobile and desktop platforms that enhance trading experience.
Luno provides competent customer service with multiple channels for support, though response times can occasionally extend during high demand periods.
Customer Service
Excellent customer support with 24/7 access via multiple channels, including live chat.
Deposits and withdrawals are generally smooth with Luno, supporting various methods, though some users might face delays depending on their region.
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 4,5/5
High 4/5

Additional features

Savings wallets, fiat on/off ramps, staking, educational resources
Crypto-to-crypto trading, Bitso Transfer (payment service), staking, educational resources

Anonymity

No
No

Key points

Available cryptocurrencies

10+
30+

User-friendliness

Luno offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary 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

Provides decent value for money with competitive fees and a user-friendly platform, making it a good choice for beginners and emerging market 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

South Africa, Nigeria, Indonesia, Malaysia, Europe
Mexico, Argentina, Brazil

Best for

Ideal for beginners and emerging market users looking for a user-friendly platform with competitive fees.
Suitable for Latin American investors, particularly those in Mexico, Argentina, and Brazil, looking for a reliable platform with competitive fees.

Base currencies available

ZAR, NGN, MYR, IDR, EUR, BTC
MXN, ARS, BRL, BTC

Account

Trading

Luno is a user-friendly exchange popular in emerging markets, offering easy fiat integration and a decent range of cryptocurrencies. It has 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

Luno is user-friendly, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, 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

Luno offers an easy and quick account registration process. Users need to provide personal information 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
Yes

Customer Service

Luno offers support through email and live chat. The response time is quick, and the support team is available 24/7, making it reliable for users needing immediate help.
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

Luno ensures security through 2FA, encryption, and cold storage. It is regulated by multiple financial authorities, providing a secure environment for 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 an expert on our website, I recommend Luno for newcomers venturing into the world of cryptocurrencies. Its user-friendly interface and robust educational resources make it an excellent starting point. However, more experienced traders might find the platform’s limited advanced trading features and crypto-to-crypto pairs a bit restrictive. If you’re just getting started or prefer a straightforward, secure trading environment, Luno is a solid choice to consider.
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.

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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 Luno and Bitso