table of contents

Bitso Exchange Review: Fees, Features, Security, and How It Compares to Decentralized Exchanges

Bitso is one of the most established crypto exchanges in Latin America, widely used by people who want a reliable fiat on-ramp and off-ramp for crypto trading and Bitcoin exchanges. In this Bitso Exchange Review, we cover its core products, supported countries, fees, liquidity, security, and customer support, and we also explain how Bitso compares to decentralized exchanges built on Binance Smart Chain BSC and automated market maker platforms. Because so many traders now interact with both centralized and decentralized exchanges, we also weave in relevant SEO entities such as liquidity pools, automated market maker model, NFT marketplace capabilities, yield farming, staking power, and non fungible token ecosystems. If you are choosing between a centralized exchange and a DEX like BakerySwap or PancakeSwap, this guide will help you understand where Bitso fits and when to consider other platforms.

What Is Bitso?

Bitso is a centralized exchange offering a custodial crypto wallet, spot markets, mobile and web trading, fiat currency deposits and withdrawals for select Latin American markets, and features built for everyday users and professional investors. Unlike decentralized exchanges that rely on liquidity providers and liquidity pools, Bitso uses a traditional order book for price discovery and matching. The exchange handles custody of customer assets through internal wallets and cold storage, and it manages private keys on behalf of users.

Founded in 2014, Bitso grew as a regional leader enabling users to buy and sell Bitcoin, stablecoins, and other tokens with local payment rails. It aims to deliver fast transactions, transparent transaction fees, and straightforward onboarding in a few steps. While Bitso is a centralized exchange with KYC/AML, it exists alongside DeFi platforms that promise permissionless access, yield farming, and AMM-based trading. Understanding the differences between these models is crucial for choosing the right platform for your needs.

Who Is Bitso Best For?

People in Mexico, Argentina, Brazil, and Colombia who want a reliable fiat on-ramp and cash-out options
Users who prefer a regulated environment with KYC/AML, customer support, and a custodial wallet
Traders who want deep order books and familiar spot markets instead of an automated market maker model
Individuals and businesses moving money across borders and seeking lower network fees and competitive FX
Crypto newcomers who want to buy Bitcoin with fiat currency in just a few clicks

Bitso’s Core Features

Spot Trading and Markets

Bitso offers spot crypto trading pairs with an order book, market and limit orders, and charts for technical analysis. The exchange does not require users to manage their private keys. Market liquidity varies by pair, but key pairs for Bitcoin and top altcoins generally have tight spreads and meaningful depth. As with any order-book exchange, slippage depends on order size and liquidity at the best bid/ask.

Mobile App and Web Platform

The mobile app and web interface allow users to buy, sell, and convert crypto quickly. Features like recurring buys, price alerts, and easy withdrawals make the user experience friendly. Advanced interfaces often provide depth charts, multiple order types, and real-time data feeds so users can trade efficiently.

Payments and Transfers

Bitso supports local bank transfers in supported countries, making it easier to move between fiat currency and crypto assets. Network fees for blockchain withdrawals are passed along to users and depend on the blockchain used, congestion, and gas fees at the time of the transaction.

Supported Countries and KYC/AML

Bitso focuses on Latin American markets including Mexico, Argentina, Brazil, and Colombia. Availability of specific products, deposit/withdrawal methods, and limits vary by jurisdiction. As a centralized exchange, Bitso requires identity verification and adheres to KYC/AML requirements that may include proof of identity, proof of address, and enhanced due diligence for higher limits.

Because regulatory frameworks evolve, users should review the latest regional policies, any restrictions applying to foreign companies operating in financial services, and the exchange’s compliance disclosures. Always confirm whether your country is supported and which features are live before attempting to deposit funds.

Deposits, Withdrawals, and Transaction Fees

On centralized exchanges, the total cost to buy or sell crypto includes several components: maker-taker trading fees, spreads, potential fiat deposit or withdrawal costs, and network fees for on-chain transfers. Bitso typically uses a tiered fee schedule, which can change based on volume and market conditions. For blockchain withdrawals, transaction fees depend on the target network’s gas fees. Large congestion events can cause temporary spikes in fees or slower confirmation times.

Users should also consider price impact, especially on pairs with lower depth. For large orders, using limit orders or breaking the trade into tranches can reduce slippage. If you often trade small cap tokens, check whether Bitso lists them or whether you might need to access a decentralized exchange or a token launchpad elsewhere.

Liquidity and Market Quality

Liquidity affects execution quality in any exchange. Bitso’s highest-liquidity markets are usually centered around Bitcoin, top stablecoins, and popular altcoins. For lesser-known assets and new tokens, liquidity may be thinner, so traders should evaluate order book depth and recent volume before submitting sizable orders. Some sophisticated users pair a centralized exchange account with decentralized exchanges when hunting for small cap tokens or initial DEX offerings, though those activities come with additional risks.

Security and Custody

Security is a central concern for any crypto trading platform. Bitso uses industry-standard security controls like two-factor authentication, withdrawal address whitelisting, and a combination of hot and cold storage. As a custodial exchange, it holds private keys on behalf of users, which means customers trust the exchange to safeguard assets and manage operational security effectively.

While exchanges strive to be virtually immune to common attack vectors, no platform is risk-free. Users should add protective layers such as strong unique passwords, hardware-based 2FA, and careful phishing prevention. If long-term self-custody is a priority, consider withdrawing coins to a hardware wallet and controlling your own keys. Keep in mind that self-custody carries its own learning curve and operational responsibilities.

Regulatory Posture

Bitso emphasizes compliance with applicable KYC/AML rules in its operating regions. Regulatory clarity for crypto exchanges is still developing in many countries, and rules on stablecoins, staking products, and token listings can affect availability. Sometimes exchanges delist assets due to compliance concerns or because a token no longer meets internal listing standards, which is one reason to diversify platforms and monitor exchange announcements.

How to Get Started on Bitso

Create an account and verify your email
Complete KYC/AML verification with your ID and, if required, proof of address
Enable two-factor authentication and set withdrawal whitelists
Deposit fiat currency using supported local payment rails or transfer crypto from another wallet
Use the buy/sell or advanced trading interface to place orders
Withdraw to your bank or crypto wallet when needed

The onboarding process typically takes just a few clicks for basic setup, though full verification can require additional documentation.

Bitso vs Decentralized Exchanges on Binance Smart Chain

Many traders today use both centralized and decentralized platforms. Bitso represents the centralized exchange model with an order book, custodial accounts, and KYC. By contrast, decentralized exchanges on Binance Smart Chain BSC use an automated market maker model where users trade against liquidity pools provided by other users. Below is how Bitso compares with DEX platforms like BakerySwap or PancakeSwap, which often feature NFT marketplace modules, liquidity mining, and yield farming.

Automated Market Maker vs Order Book

An automated market maker relies on liquidity providers to deposit token pairs into liquidity pools. Traders swap tokens directly with the pool using a price curve. This can be ideal for long-tail assets but can suffer from impermanent loss for LPs and price impact on larger swaps. Bitso uses a traditional order book where users place bids and asks, and the exchange matches orders, often resulting in more familiar execution for active traders.

Fees, Gas, and Network Considerations

On AMM platforms, users pay network fees (gas fees) on Binance Smart Chain for each transaction. Although BSC is known for fast transactions and relatively low fees compared to some networks, gas costs still fluctuate. Centralized exchanges like Bitso charge trading fees off-chain and only pass on network fees for deposits and withdrawals. If you are trading frequently in small sizes, a centralized order book can sometimes be more cost-effective than paying gas for each DEX swap.

Token Access and Listings

Decentralized exchanges excel at exposure to new tokens and other tokens that may not be listed on a centralized exchange. DEXs often host initial DEX offerings or use a token launchpad to help projects raise funds. On BakerySwap, for example, users could explore new tokens, small cap tokens, and NFT projects through the bakeryswap launchpad. By contrast, Bitso lists assets after internal due diligence and compliance reviews. If a coin fails to maintain standards or liquidity, an exchange may consider delisting it.

NFT Marketplace and DeFi Extras

Platforms like BakerySwap combine trading with an NFT marketplace and DeFi features. The bakeryswap nft marketplace, bakery gallery, and NFT aggregation tools enable users to mint artwork, own NFTs, and discover featured artists or limited edition tokens. Some DEX ecosystems introduce gaming and collectibles, including bsc games box, pet tokens, and combo meal themed offerings for NFT collectors. Meanwhile, Bitso focuses on core exchange services rather than maintaining an NFT marketplace or NFT staking features.

Yield, Staking, and Liquidity Mining

On DeFi platforms, liquidity providers can earn passive income by providing liquidity and earning a share of trading fees. In the case of BakerySwap, LPs received blp tokens to represent their share of the pool and could earn bake tokens through liquidity mining and yield farming. Some pools offer bake rewards or let users farm bake. There might be a minimum staking amount depending on the pool. Advanced users can seek to earn additional bake tokens or earn bake through multiple strategies, but must understand impermanent loss, smart contract risk, and market volatility. Centralized exchanges like Bitso may periodically offer staking or yield products, but these offerings are subject to regulations and may not be available in all regions.

Governance, Teams, and Transparency

A decentralized autonomous organization model and community governance sometimes influence parameters on DEX platforms. Teams can be known or, in some cases, operate as an anonymous team. By contrast, Bitso is a visible company with corporate disclosures and compliance obligations. DeFi’s flexibility helps projects iterate quickly, but users must perform deep due diligence, especially when interacting with newer, experimental contracts that are not audited or whose tokens reserved allocations and other tokenomics features may concentrate ownership.

Where BakerySwap Fits Into This Picture

Because many researchers look for a bakeryswap exchange review or a bakeryswap review while also comparing centralized venues, it helps to understand core bakeryswap features even on a Bitso-focused page. BakerySwap is a DeFi and NFT defi platform created on Binance Smart Chain that leverages an automated market maker. The native token, bake, is used for rewards, staking power in the ecosystem, and sometimes for community governance proposals. The bakeryswap ecosystem historically included:

Liquidity pools for token pairs on binance smart chain
Liquidity mining to earn bake tokens and more bake via program incentives
An NFT marketplace where users trade non fungible token assets, mint artwork, and support featured artists
Token launchpad and initial dex offerings to help projects raise funds
Special themes like combo meal, other limited edition tokens, pet tokens, and unique BLP structures
Blog and media channels such as the bakeryswap blog and bakeryswap medium for updates

For traders who want the flexibility of DEX tools with low network fees on BSC, BakerySwap offers a range of options that centralized exchanges typically do not. Still, risks differ. Smart contract exploits, volatile market cap swings, and poorly designed tokenomics can cause losses even as some users earn passive income in bull markets.

Costs and Price Discovery: CEX vs AMM

Exchanges determine prices in different ways. Centralized platforms like Bitso reflect current supply and demand through order books, while AMMs use mathematical bonding curves. Because the mechanisms differ, you can see different execution outcomes on the same token across CEX and DEX venues. Arbitrageurs help keep prices aligned, but transient dislocations occur, especially for new tokens.

On DEXs, liquidity pools set the cost of trades in a way that can amplify slippage during big orders. Liquidity providers accept the risk of impermanent loss, sometimes offset by bake rewards or other incentives. On Bitso, spreads and depth determine slippage; professional market makers often provide tight spreads, and network fees only apply when moving assets on-chain. Evaluating total cost means looking at trading fees, network fees, price impact, and the potential opportunity cost of staking or farming elsewhere.

Bitso’s Token Listings and Delistings

Centralized exchanges periodically list and delist assets. New tokens undergo risk, liquidity, security, and compliance reviews. If a project changes its contract, fails to maintain minimum standards, or triggers regulatory concerns, the exchange may delist it. Traders who follow BAKE or other tokens that began on BSC should monitor notices in the official announcements section. This due diligence is similar to reading a bakeryswap medium post, a bakeryswap blog update, or other project communications to learn about changes in tokenomics, deflationary token mechanics, or new programs like earn additional bake tokens.

Customer Support and Education

Bitso provides a help center, ticketing support, and educational content aimed at users learning crypto basics. The platform typically supports Spanish and Portuguese, reflecting its regional focus. That contrasts with some DEX ecosystems where documentation can be distributed across community forums, code repositories, and independent guides. If you value direct support and response SLAs, centralized venues have an advantage.

APIs and Algo Trading

Developers can access API endpoints for account management, market data, and order placement. Whether you trade manually or via bots, an API can help manage risk across multiple pairs. If your strategy includes harvesting liquidity mining incentives or participating in NFT aggregation, those activities usually happen through on-chain contracts, scripts, and wallets rather than centralized APIs.

Risks to Understand

Custodial risk on centralized exchanges
Regulatory changes that affect token availability and staking products
Market volatility that can impact your portfolio and the market cap of assets you hold
On-chain risks on DEXs, including smart contract exploits and rug pulls
Liquidity risks in small cap tokens and new tokens on any venue

Who Should Choose Bitso vs a DeFi Platform?

Choose Bitso if you need a reliable fiat gateway, want an intuitive app, prefer KYC/AML protections, and prioritize order-book liquidity in core pairs. Choose a DEX like BakerySwap if you want to provide liquidity, earn bake tokens through yield farming, explore NFT projects on an integrated marketplace, or interact with a community governance model. Many users mix both approaches: use Bitso to manage cash in and out of crypto, then use BSC DEXs for specialized strategies like liquidity mining or minting NFTs. The right choice depends on your risk tolerance and goals.

Conclusion

Bitso stands out as a trusted entry point to crypto trading and Bitcoin exchanges across several Latin American markets. It pairs a simple user experience with compliance, support, and order-book markets for those who prefer a centralized exchange. At the same time, the broader DeFi landscape on Binance Smart Chain BSC offers complementary options through decentralized exchanges like BakerySwap and PancakeSwap. Understanding differences in fees, liquidity, staking power, and custody helps you pick the platform that matches your strategy—whether you are seeking passive income by providing liquidity, exploring a bakeryswap nft marketplace, or simply buying BTC through a regulated venue.

FAQ

Why is Bake being delisted?

Delistings on centralized exchanges can happen for multiple reasons. Common factors include low liquidity and trading volume, security or smart contract concerns, evolving compliance standards in certain jurisdictions, or a project failing to meet ongoing listing requirements. If an exchange evaluates a token like BAKE and determines it no longer satisfies internal thresholds, it may announce a delisting with a timeline for withdrawals. Always check the official announcements page of your exchange and the project’s communications channels, such as the bakeryswap blog or bakeryswap medium, for the most accurate and current information.

Is PancakeSwap legal in the US?

PancakeSwap is a decentralized exchange on Binance Smart Chain. Using a DEX involves interacting directly with smart contracts and does not require an account with a centralized entity. US users must comply with US laws and regulations, including tax reporting and any restrictions on transacting with sanctioned addresses. While accessing a website or smart contract is generally not the same as using a regulated custodial service, it is the user’s responsibility to follow applicable laws. If you are unsure, consult a qualified attorney. Note that decentralized platforms typically do not offer KYC/AML processes, which can raise issues for users subject to stricter regulatory obligations.

What is BakerySwap?

BakerySwap is a decentralized exchange and NFT marketplace built on Binance Smart Chain BSC that uses an automated market maker model. It enables users to swap tokens via liquidity pools, provide liquidity to earn passive income, and participate in yield farming and liquidity mining. The native token, bake, historically powered rewards, community governance features, and ecosystem incentives. BakerySwap also launched a bakeryswap marketplace for NFTs, allowing users to mint artwork, trade non fungible token assets, and explore featured artists, limited edition tokens, and other NFT projects. Additional components included token launchpad tools for initial DEX offerings and creative elements like combo meal themes, pet tokens, bsc games box, and blp tokens for LP positions. Users should review official resources, such as the bakeryswap blog and bakeryswap medium, to track current programs, bakeryswap fees, network fees impacts, and other bakeryswap features.

Will the BakeryToken rise again?

No one can reliably predict a token’s future price. The market cap of BAKE depends on broader crypto conditions, project development, liquidity, and demand for the bakeryswap ecosystem. Factors that could influence price include new tokens listed in the ecosystem, updates to the bakeryswap nft marketplace, changes in liquidity pools incentives that help users earn bake tokens or earn additional bake tokens, and the overall health of the DeFi space. Conversely, regulatory shifts, smart contract vulnerabilities, declining activity in yield farming, or reduced liquidity providers participation can weigh on price. Always conduct your own research, diversify risk, and remember that tokens associated with DeFi programs, even those designed as a deflationary token, can be highly volatile.