The use of cryptocurrencies has increased considerably around the world, and Mexico is no exception. Among the multiple platforms that allow the purchase, sale and management of these digital currencies, we find Bitso. The big question is: How to use Bitso?
In this article we will help you understand in detail how to operate on this cryptocurrency platform. so popular. We will explore each necessary step, from the registration process to how to make transactions. Whether you're a cryptocurrency expert or considering taking your first step into this dynamic industry, we assure you'll find valuable information in this guide. Let's get ready to learn everything about using Bitso.
Registration in Bitso
To register on Bitso, you will need to meet some requirements and follow a process Step by Step. Initially, you must be over 18 years old and reside in Mexico, although the platform is expanding to other countries. Bitso is regulated by the Mexican fintech law, so your security is guaranteed. The registration process is simple and will only take a few minutes. First, head over to Bitso's official website and click on the register button. Then, fill out the form with your personal information. This includes your full name, email, password and cell phone number. You will receive a confirmation code on your phone that you must enter on the page.
Once you have created your account, you will need to verify it. The verification it is a process required which involves uploading an official identification (INE, passport, professional license) and recent proof of address. Lastly, Bitso requires a selfie of you to confirm your identity. Once your account is verified, you will be able to enjoy all the advantages of the platform, such as buying, selling and withdrawing cryptocurrencies. Rememberthat, although the process may seem tedious, it is essential to keep your funds safe.
- Age and residency requirement
- Required Personal Information
- Account Verification
Deposit Funds to your Bitso Account
Deposit money into your Bitso account It is a simple and quick procedure. The first thing What should you do is to log in to your account. Then, on the main screen, select the “Wallet” option, followed by “Deposit”. A drop-down list will open with various coin options available to deposit. Identify the currency you want to deposit, for example Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), among others, and click on it.
Once you have selected the currency, you will see the address of the wallet and the corresponding QR code. You can copy the address and paste it into the platform you are sending funds from or simply scan the QR code to avoid errors when typing the address. Make sure you enter the correct amount and don't forget to take into account any transaction fees. Confirm the transaction and wait for the funds to reflect in your account. Remember that the waiting time may vary depending on the currency selected.
Carrying out Purchase and Sale Operations in Bitso
To start using Bitso for buying and selling operations, you need to have a verified account. First, Log in to your account and go to the 'Trading' section. Here you can see different pairs of cryptocurrencies and fiat currencies available for trading. Make sure you choose the correct pair before continuing. Then, enter the amount you want to buy or sell and select the order. Orders can be of 'limit' or 'market' type. Limit orders allow you to set a specific price at which you would like to buy or sell, while market orders allow you to buy or sell at the current market price.
When making transactions, it is crucial understand the difference between a 'limit' order and a 'market' order. A 'limit' order allows you to buy or sell at a precise price, while a 'market' order executes the transaction at the current price offered by the market. After selecting the type of order, all you have to do is press the “buy” or “sell” button, as appropriate. Once the order is executed, the purchased cryptocurrency will be deposited into your Bitso Wallet and if you have sold, the funds in fiat currency will be deposited into your account. Remember that all operations on Bitso are subject to fees that you must consider when making your transactions.
I am Sebastián Vidal, a computer engineer passionate about technology and DIY. Furthermore, I am the creator of tecnobits.com, where I share tutorials to make technology more accessible and understandable for everyone.