Comparison of Wazirx vs Bitso [ 2024 ]

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

Your expert: Alejandro Borja

wazirx

Wazirx

  • Threenvest valuation: 3,9/5
  • US legal: No
  • 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

0,20%

Earns

No

Customer service

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

Fees

Yes

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

Yes
Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with additional rewards for using the native token.
3.9 – Competitive fees within Latin America.

Level

0,20%
0,075%/0,098%

Brief explanation

WazirX structures its commissions to be competitive within the cryptocurrency exchange market, particularly appealing to Indian traders. The platform charges a flat fee of 0.2% per transaction, which applies to both makers and takers. This straightforward, no-tier fee structure makes it easy for users to understand exactly what they will pay per trade, without any hidden complexities. Additionally, deposit fees are free for cryptocurrencies, but there may be small charges for fiat transactions depending on the method used, and withdrawal fees vary by cryptocurrency, reflecting network fees rather than platform 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.

Wazirx

wazirx
Read wazirx review
  • Year founded: WazirX was established in 2017, quickly becoming a key player in the Indian cryptocurrency space, demonstrating robust growth and longevity in a highly volatile market.
  • Security methods: WazirX employs a comprehensive set of security measures, including two-factor authentication (2FA) and regular security audits, ensuring a secure trading environment for its users.
  • Volume managed and trading volume and liquidity: Since its acquisition by Binance, WazirX has seen substantial increases in its trading volumes, benefiting from Binance’s high liquidity pools which enhance trading efficiency and price stability on the platform.
  • Reputation and Reviews: The platform is well-regarded in the Indian cryptocurrency community, known for its user-friendly interface and reliability. Its strategic partnership with Binance further boosts its credibility among users.
  • Customer service: WazirX offers a dedicated support team and has a comprehensive FAQ and support section that addresses common issues and guides new users through the trading process, contributing to a supportive user experience.
  • Pros
  • Supports numerous cryptocurrencies.
  • User-friendly interface.
  • INR deposits and withdrawals.
  • Cons
  • Occasional technical glitches.
  • Slow customer support.

Read wazirx review

Bitso

bitso
Read wazirx 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.

Comparison sponsored by the best exchange

eToro

eToro Special Offer*

Earn up to 4.90% APY on uninvested cash with eToro USA.

Account Minimum

Get started with just $50.

And 1% fee on all cryptocurrency trades.

Read our eToro review here
etoro logotipo
Go to eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Product selection

Native token

Token WRX
No

Earns

No
Yes

NFT marketplace

Yes
No

Cripto/debit card

Yes
No

Company information

Full name

Zanmai Labs Private Limited
Bitso SAPI de CV

Regulation

Not regulated
Regulated in México

Year founded

2018
2014

Founder

Nischal Shetty
Pablo González, Ben Peters, Daniel Vogel

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
Yes

Wire transfer

Yes
No

Card

Yes
Yes

Comparative table

Wazirx FEATURES Bitso
WazirX allows users to begin trading with relatively small amounts, making it an accessible option for beginners and those looking to test the waters without significant initial investments.
Minimum Trade
The minimum trade amount is low, enabling accessibility for traders of all sizes.
WazirX charges a flat fee of 0.2% on all trades, which is competitive; however, a lack of fee tiering can deter high-volume traders who typically benefit from reduced rates in other exchanges.
Trading and Transaction Fees
Bitso offers competitive fees, with a sliding scale that benefits high-volume traders.
The platform supports a broad array of cryptocurrencies, providing users with ample opportunities to diversify their portfolios with both popular and less mainstream tokens.
Number of Cryptocurrencies
Bitso supports major cryptocurrencies but has a more limited selection compared to larger exchanges.
Offers a substantial number of trading pairs, which is beneficial for traders looking to capitalize on market movements across various cryptocurrencies.
Crypto-to-Crypto Trading Pairs
Offers a moderate range of crypto-to-crypto trading pairs, adequate for most traders.
Generally, WazirX maintains a transparent approach with visible fee structures and trading terms; however, improvements could be made in the visibility of wallet safety and fund security protocols.
Website Transparency
Bitso provides clear and detailed information on its operations and security measures.
WazirX lacks an exchange card, limiting flexibility in utilizing crypto assets for everyday transactions and benefits.
Credit/Debit Card
Bitso lacks a dedicated exchange card, limiting its utility for in-store cryptocurrency transactions and associated benefits.
Provides robust storage options with an emphasis on security; includes both hot and cold wallet solutions to ensure the safety of user assets.
Storage Offering
Secure storage with cold wallets and multi-signature technology to ensure safety.
While WazirX offers staking options, the variety and rewards rates are less competitive when compared with larger platforms that specialize in staking and yield farming.
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 well-designed, offering intuitive navigation and comprehensive functionality that meets the needs of most traders.
Mobile App and Desktop
Highly functional and user-friendly mobile and desktop platforms that enhance trading experience.
The platform’s customer service is an area needing improvement, with reported delays in response times and issues with the effectiveness of the solutions provided.
Customer Service
Excellent customer support with 24/7 access via multiple channels, including live chat.
Deposits and withdrawals are processed efficiently, especially for INR transactions. However, the platform could expand its support for additional fiat currencies to enhance user convenience further.
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

Yes
No

Security

High 4,6/5
High 4/5

Additional features

Staking, WazirX token (WRX) rewards, WazirX Earn, fiat on/off ramps
Crypto-to-crypto trading, Bitso Transfer (payment service), staking, educational resources

Anonymity

No
No

Key points

Available cryptocurrencies

100+
30+

User-friendliness

WazirX provides 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 good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable choice for Indian 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

India, United States, Canada, United Kingdom, Australia
Mexico, Argentina, Brazil

Best for

Ideal for Indian investors 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

INR, USDT
MXN, ARS, BRL, BTC

Account

Trading

WazirX is one of the largest exchanges in India, offering a wide range of cryptocurrencies and easy fiat integration. It has competitive fees and a user-friendly platform but has faced regulatory challenges.
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

WazirX is one of the largest exchanges in India, offering a wide range of deposit methods. 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

WazirX 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?

Yes
Yes

Customer Service

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

WazirX offers comprehensive security measures, including 2FA and cold storage. It is regulated by Indian authorities, ensuring high security 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 one of the experts reviewing WazirX, I recommend this platform for Indian users looking for a straightforward entry into the world of cryptocurrencies. Its integration with Binance enhances liquidity and provides a robust range of trading options, which is beneficial for both novice and experienced traders. However, be mindful of occasional technical issues and prepare for potential delays in customer service response times. Overall, WazirX stands as a solid choice, especially if you value an easy-to-navigate interface and a wide selection of crypto assets.
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 Wazirx

View all comparisons against Bitso

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 Wazirx and Bitso