Phemex vs Bitso: Fees, Security, Features & Which to Choose (2025)

Trying to choose between Phemex and Bitso This side-by-side comparison reveals total cost (fees + spreads), security & licenses, coins/derivatives, deposits/withdrawals, and app quality. In 2 minutes you’ll see who wins for beginners, active traders, and long-term holders. Clear pros/cons, a quick verdict, and safe links to get started.

Last updated on August 16, 2025

Phemex

Bitso

⚠️ We look for what’s best for you.

₿ Getting into crypto? With eToro you can start in minutes: buy/sell top coins, set recurring buys, track markets, and use Social/CopyTrader features.

👉 Start here and explore the crypto offer.

Available Countries

United States

Europe

Yes

Latin America

Yes

India

Yes

China

Canada

United Kingdom

United States

Europe

Yes

Latin America

India

China

Canada

United Kingdom

Thinking about starting with crypto? This is for you.

In select regions, eToro offers a $10 welcome bonus when you open an account today.*

🎯 An account built to help you start with crypto—without the hassle.

➕ Buy and sell top cryptocurrencies in minutes

➕ Recurring buys, price alerts, and advanced charts

➕ Social/CopyTrader™ to follow experienced investors

➕ One of the largest and most trusted platforms worldwide

Limited-time promotion — still available.

*Offer subject to terms, eligibility and regional availability. Don’t invest unless you’re prepared to lose all the money you invest.

Phemex is ideal if:

Fast-paced traders value it: With ultra-low latency and deep liquidity, Phemex's high-performance trading engine offers smooth execution and stability.
Tech-savvy users benefit: Advanced tools—like copy trading, bots, and DeFi-style earning products—empower both automation and strategy innovation.
Privacy-conscious users find appeal: Flexible KYC policies and a streamlined onboarding style suit those preferring minimal verification barriers.

Bitso is ideal if:

Latin America–centric users: Tailored for users in Mexico, Brazil, Argentina, and Colombia with local currencies, payments, and regulatory coverage, offering a seamless regional crypto experience.
Beginners who value simplicity: Its intuitive interface and easy onboarding make it a solid entry point for anyone new to crypto trading.
Crypto holders seeking flexible future options: Features like Bitso+ (earnings on your holdings with no lock-ups) and a growing suite of tools make long-term crypto use more rewarding.

Phemex isn’t ideal if:

Fiat-focused users may face limits: Fiat deposit and withdrawal services are unavailable or heavily restricted in numerous countries, reducing accessibility for those relying on bank transfers.
Newcomers could feel overwhelmed: The platform’s advanced features and high-leverage tools offer power—but may feel complex if you’re new to trading.
Risk-averse investors might be uneasy: Derivatives and high-leverage products carry greater risk, making Phemex less suited to those seeking lower-volatility exposure.

Bitso isn’t ideal if:

…you live outside Latin America: Access and services are focused mainly on countries like Mexico, Argentina, Brazil, and Colombia, limiting availability elsewhere.
…you need a wide range of cryptocurrencies: Bitso’s portfolio is effective for mainstream assets, but lacks the extensive variety offered by larger global exchanges.
…you value fast, hands-on support: Customer service primarily relies on tickets and digital channels, which can result in slower response times when urgent help is needed.

Fees & Total Costs

Spot Maker/Take

Spot trading fees start at 0.1% for both maker and taker on the base VIP tier and can decrease via VIP-level benefits tied to trading volume or asset holdings; using the Phemex Token (PT) grants additional discounts—around 20% off spot fees—and those can stack with VIP reductions.

Bitso applies a tiered maker–taker structure where fees decrease as your 30-day trading volume increases; for instance, in the USD (USDC) market, maker rates range from ~0.25% at low volumes to ~0.04% at the highest tiers, with taker rates starting around 0.30% and dropping to about 0.05%—there’s no native token discount program.

Futures/Derivatives

Futures (perpetual contracts) begin with a maker fee as low as 0.01% and a taker fee of 0.06%, with lower rates available through VIP status; funding rates vary according to market dynamics and are applied periodically, affecting long or short positions depending on current rates.

maker/taker and funding

Average Spreads on Liquid Pairs

Phemex delivers tight spreads on major spot pairs like BTC/USDT and ETH/USDT, thanks to deep order-book liquidity and efficient execution, although the exact average spread fluctuates with market conditions and isn’t publicly standardized.

While Bitso doesn’t publish exact spread figures, available data and reviews suggest it maintains competitive spreads on major, liquid pairs, though not necessarily as tight as ultra-high-volume global platforms.

Fiat Deposits & Withdrawals

Fiat deposits are facilitated via third-party gateways such as MoonPay or Banxa, often with fees imposed by those services; withdrawal in fiat is limited or restricted depending on jurisdiction and may incur fixed charges or banking delays driven by external banking partners.

methods, fees, timings

On-chain Withdrawals

Crypto withdrawals carry network-dependent fees, which vary by chain and congestion

fixed vs dynamic fees per network (BTC, ETH, TRX, etc.)

Hidden Costs

Hidden costs may include markups from third-party fiat gateways, potential inactivity penalties (if any), and premium-tier services like expedited KYC—but generally, Phemex avoids additional charges beyond trading, withdrawal, and external service fees.

currency conversion, inactivity, expedited KYC, etc.

Real-World Cost Example: “€500 BTC

Example

“Buying €500 in BTC” (fee + spread + withdrawal)

Crypto Offering & Trading Features

Number of Coins & Pairs

Phemex offers several hundred tradable assets across hundreds of spot and futures pairs; among the top by volume you’ll typically see major pairs like BTC/USDT, ETH/USDT, XRP/USDT, SOL/USDT, DOGE/USDT, ADA/USDT dominating the leaderboards.

Bitso offers around 100 trading pairs and supports roughly 55–100 cryptocurrencies, with top-volume instruments like BTC, ETH, XRP, SOL, and USDC featuring prominently among the top 20 by liquidity.

Product Range

Phemex delivers a wide product mix including spot and margin trading, perpetual futures, automated copy-trading, grid-trading bots (spot and futures), DCA and Martingale bots, essential lending/borrow via margin, plus crypto earn products and launchpad functionality.

Bitso provides spot trading plus a flexible staking/earn product (Bitso Earn) and fiat-crypto remittances (via Bitso Shift), but it does not offer margin, derivatives (futures/options), ETFs, lending, copy trading, grid bots, or automated DCA strategies.

Liquidity

Phemex sees substantial daily volume usually in the hundreds of millions USD, with order-book depth in BTC and ETH strong enough to support sizable trades without excessive slippage, reflecting healthy active liquidity.

Daily volumes for major pairs like BTC/USDT and ETH/USDT run into the tens of millions USD, offering sound liquidity and stable order-book depth, though not as deep as global mega-exchanges.

Tools

The platform includes full order-type support such as limit, market, stop and OCO orders, real-time alerts, advanced interactive charts powered by TradingView, and robust API with WebSocket for seamless automation and live data.

Bitso supports market, limit, stop-loss, and stop-limit orders, integrates with TradingView for advanced charting, offers price alerts, and provides robust API/WebSocket access through its Bitso Alpha platform.

Geographic Restrictions by Product

Certain services—especially derivatives—are restricted in countries like the United States, United Kingdom, parts of Canada, China, and other regions, while spot and earn products may remain accessible depending on local laws.

Certain advanced features like staking and fiat on-ramps are limited to Latin American residents; derivatives and margin aren’t offered at all, and access is restricted outside these primary markets.

Innovation

Phemex continually expands its ecosystem with launchpad or launchpool-style token sales, and layered earn programs offering both flexible (withdraw anytime) and locked (higher yield) options to fit different investor preferences.

Bitso excels with its flexible-earn staking (withdraw anytime, weekly rewards) and has broadened coverage into emerging DeFi space by adding new tokens like HYPE, though it doesn’t currently run launchpads or locked-pool offerings.

Security, Regulation & Custody

Operating Entity & Jurisdiction

Phemex began in 2019 and is operated under entities such as Phemex Technology Pte. Ltd. in Singapore and Phemex Limited in the British Virgin Islands, placing it under those legal jurisdictions.

Bitso operates under the legal entity Badger Technology Company Ltd, incorporated in Gibraltar, with operations stretching across Latin America since its launch in 2014 out of Mexico City.

Licenses/Registration

While Phemex holds an MSB registration with FinCEN in the U.S., it currently lacks MiCA or equivalent EU licensing and is not authorized to operate in several regulated regions.

The platform holds a pioneering DLT license from the Gibraltar Financial Services Commission and operates in Mexico under the local Fintech law as an authorized payment institution (IFPE).

Custody

The exchange maintains full custody of user assets and provides a self-verifiable Merkle-tree proof-of-reserves (PoR) tool that shows assets are backed 1

Bitso uses its own custody infrastructure, reinforced with multi-signature controls and disaster recovery via CoinCover, and offers transparency through real-time security metrics via its Trust Center.

Insurance & Protection Funds

There is no publicly disclosed insurance or user protection fund; security relies on reserve mechanisms and risk controls but does not include third-party insurance coverage.

Bitso has complemented its digital-asset protection by partnering with CoinCover to provide additional risk mitigation and recovery mechanisms for user funds.

Incident History

Phemex has not reported any major hacks, though it temporarily suspended a hot-wallet after an internal security review; it also faced regulatory scrutiny in Canada and the UK for compliance issues.

To date, Bitso has not experienced any known hacks or security breaches, and it has a track record of uninterrupted service without suspensions or major compliance penalties.

Risk Controls

Users benefit from standard safeguards including mandatory two-factor authentication, IP or address whitelists, anti-phishing protection, segregated sub-accounts, and granular API permission controls.

The platform enforces robust risk safeguards including two-factor authentication (2FA), phishing prevention, transaction whitelists, and granular API permissions for institutional users.

Transparency

Phemex offers monthly-updated PoR data, public disclosure of partial cold wallet addresses, and reserve ratios, demonstrating a commitment to transparency though without formal SLAs or comprehensive monthly financial reports.

In the interest of openness, Bitso shares live security and compliance metrics in its Trust Center, though it does not produce regular reserve or transparency reports or public wallets.

Deposits, Withdrawals, KYC & Support

Fiat Deposit Methods

Phemex supports fiat deposits via bank transfers (SWIFT, SEPA, ACH, FPS) and third-party services like MoonPay or Banxa; minimums generally start around $50, maximums reach very high limits, and processing typically takes from instant (via e-wallet) to 1–3 business days for transfers.

Bitso accepts fiat deposits via local bank transfers (e.g., SPEI in Mexico, Pix in Brazil), digital dollars through Payoneer, and in some markets, card deposits; minimum and maximum deposit amounts vary based on local regulations and bank systems, and transfer times generally align with domestic banking hours.

Supported Fiat Currencies & Conversion

KYC (Verification Levels)

There are three user tiers

There are typically three KYC tiers

Withdrawals

limits, times, networks (TRC20/ERC20/BEP20, etc.)

Limits, Timing & Networks

Customer Support

chat 24/7, email, response times, knowledge base

Bitso provides support through live chat and an extensive Help Center ticket system, with response times typically within 24–48 hours and a rich knowledge base to guide users.

Languages & Localization

The platform’s interface and support are primarily in English, with fees typically shown in USD or equivalent fiat; some content and interfaces are localized for major regions, though comprehensive local regulation compliance varies by jurisdiction.

The platform operates natively in English, Spanish, and Portuguese, displays fees in relevant local currencies, and tailors its services to comply with regional legal and regulatory frameworks.

App Quality & Stability

The Phemex mobile app is generally regarded as stable and regularly updated, offering seamless feature parity with desktop—though exact crash rates aren’t disclosed, user feedback reflects a smooth, reliable experience.

Bitso’s mobile app (available for iOS and Android) mirrors the web platform in functionality and offers a smooth trading experience with strong user reviews, suggesting stability and regular updates.

Experience, Performance & Ecosystem

UX/UI

The platform offers a clean, intuitive interface with a low entry barrier for newcomers, while also featuring an advanced “Pro” layout tailored to seasoned users that surfaces more chart tools and analytics—all accessible without overwhelming either group.

Bitso caters to different skill levels by offering a stripped-down classic mode for newcomers and the more advanced Alpha Pro interface for serious traders—both seamlessly blend intuitive design with enhanced charting and order tools, making the learning curve manageable yet scalable.

Performance

Known for its fast order execution and robust infrastructure, Phemex handles volatility with minimal downtime, though during peak surges KYC and account approval may experience slight delays—performance remains solid overall.

Bitso’s Alpha Pro is optimized for fast trade execution and generally maintains uptime even during busy periods; however, during bull markets, KYC queues can lengthen, occasionally delaying full access for new users.

Education

Phemex Academy offers a rich library of beginner-to-advanced tutorials, while a fully functional Testnet simulator lets users practice trading risk-free; however, Spanish-language educational materials are limited or not as comprehensive.

Although Bitso doesn’t offer a trading simulator or demo, it does provide educational content—including guides and insights—in Spanish across its blog and Help Center, making it accessible for Spanish-speaking users seeking self-guided learning.

Community

Users can join lively communities via Telegram or Discord, participate in referral programs offering significant bonus pools and commissions, and access forums where updates and peer tips circulate regularly.

Bitso fosters community engagement through active channels like official Telegram groups and a referral program, though it doesn’t operate a public forum or Discord server specifically for user discussions.

Integrations

Phemex’s interface embeds native TradingView charts, supports integration with external bot frameworks, and appeals to algorithmic traders via API access, though dedicated tax or accounting tool integrations are limited.

Bitso integrates directly with TradingView, enabling charting and analysis of its full spot-pair range; it also supports external integration via its robust API, though it lacks built-in tax tools or direct accounting integrations.

Who Each One Is Best For

Phemex stands out for active, tech-savvy or algorithmic traders seeking powerful tools, automation access, and derivatives options; it’s less ideal for ultra-beginners or those requiring local-language education or deep tax integrations.

Bitso offers an ideal blend of simplicity and capability for Latin American users—from beginners enjoying the clean interface to intermediate traders accessing Alpha Pro—making it less suited for algorithmic traders, simulator users, or those needing integrated financial tooling.