Bitso vs BitMEX : Which one is better for your business?

Blockchain-based payment infrastructure and cryptocurrency trading platforms are crucial for businesses aiming to streamline cross-border transactions and enhance trading efficiency. We'll compare Bitso and BitMEX to determine which platform excels in providing seamless, cost-effective, and transparent solutions for businesses. This evaluation will focus on key performance indicators such as transaction speed, API integration, security, and customer support.

A quick overview on Bitso and BitMEX

What is Bitso?

Bitso provides a blockchain-based platform for cross-border payments, offering services like real-time pay-ins and payouts in Latin America without requiring a local entity. The platform is unique for its single, easy-to-integrate API and cost-effective transactions across multiple currencies, including fiat and stablecoins.

What is BitMEX?

BitMEX is a cryptocurrency trading platform designed for institutional and professional traders, offering derivatives, spot trading, and crypto buying services. Unique features include multi-party computation for asset security, proof of reserves published twice a week, and an industry-leading insurance fund. The platform also boasts low latency, competitive trading fees, and 24/7 bespoke support for its clients.

Features of Bitso and BitMEX

Bitso features

Bitso offers a range of unique features that cater to businesses looking for efficient and transparent cross-border payment solutions.

• Real-time payments in Latin America: Businesses can make real-time pay-ins and payouts without needing a local entity, significantly reducing costs and time for moving funds.
• Single, easy-to-integrate API: The platform provides a single API that connects businesses to local banking rails, simplifying the integration process and enabling seamless scaling.
• Multiple currency options: Bitso supports transactions in various currencies, including fiat and stablecoins, offering flexibility for cross-border payments.
• Instant payouts: The platform allows for instant payments to customers and partners, enhancing the speed and efficiency of financial operations.
• Blockchain-based infrastructure: Utilizing blockchain technology, Bitso ensures increased transparency and security in transactions, setting it apart from traditional payment systems.

BitMEX features

BitMEX offers a range of unique features that cater to the needs of institutional and professional traders.

• Security & Custody: BitMEX has maintained a record of zero crypto loss through intrusion or hacking since 2014, utilizing multi-party computation (MPC) to secure assets.
• Proof of Reserves and Liabilities: The platform was the first to publish proof of reserves in 2021, with a process that runs twice a week, ensuring transparency and trust.
• Insurance Fund: BitMEX has an insurance fund to manage unfilled liquidation orders, providing an additional layer of security for traders.
• Low Latency: The platform guarantees under 4ms latency, offering a fast and efficient trading experience.
• 24/7 Bespoke Support: Dedicated Relationship Managers are available around the clock to provide continuous and personalized support.

Comparing Bitso, BitMEX and OneSafe's features

Why choose one over the other?

• Why choose Bitso over BitMEX: If your business needs to facilitate real-time cross-border payments in Latin America without establishing a local entity, Bitso's blockchain-based platform is ideal. Its single, easy-to-integrate API connects you to local banking rails, making transactions cost-effective and transparent, unlike BitMEX, which focuses more on trading rather than payment solutions.
• Why choose BitMEX over Bitso: For institutional and professional traders seeking a secure and efficient trading environment, BitMEX offers unparalleled security with multi-party computation and proof of reserves published twice a week. Additionally, its low latency and 24/7 bespoke support provide a trading experience tailored to high-frequency and high-volume trading, which Bitso does not specifically cater to.

Considering OneSafe vs Bitso and BitMEX

• Why choose OneSafe over Bitso and BitMEX: OneSafe offers a comprehensive financial platform that integrates both traditional banking and Web3 services, unlike Bitso and BitMEX, which primarily focus on cryptocurrency trading. With features like global payments, multi-currency support, and corporate cards, OneSafe provides a more versatile and user-friendly solution for businesses looking to manage both fiat and crypto transactions seamlessly.

What are the customers saying?

Bitso reviews

Users have generally praised Bitso for its ease of use, fast transactions, and robust security features. However, some users have expressed frustration with the user interface and the need for more advanced features and integrations. The overall rating for Bitso is 4.4 out of 5 stars.

• "It is extremely fast and easy to work with, I have never had issues with any transfers and now they allow me to convert to other currencies more easily than before." - Gia H.
• "Young and innovative platform, they take the user experience a lot into account and focus on reducing the friction of first-time users." - Miguel A.

For more details, visit the Bitso Reviews 2024 page on G2.

BitMEX reviews

Users have mixed feelings about BitMEX. While some appreciate the high leverage options and the variety of trading products, others are frustrated with technical issues like platform freezes and failed order executions. The platform's complexity makes it more suitable for experienced traders.

The overall rating for BitMEX is 3.1 out of 5 stars.

• "The only good thing about Bitmex is being able to trade on high leverage, however, many new platforms such as PrimeXBT and Deribit are taking the spotlight lately." - Verified User
• "The thing that I love the best is how easy they have made it to use." - Gage M.

For more details, visit the BitMEX Reviews 2024 page on G2.

OneSafereviews

Users have praised OneSafe for its exceptional customer support and innovative solutions that simplify complex financial tasks. The overall rating for OneSafe is 4.8 out of 5 stars.

• "OneSafe has the best customer support I've ever experienced from a bank." - Amit Chu, Investments @ Celo Foundation
• "OneSafe is a game-changer. They solve so many headaches for our company. Finally, a banking solution that gets it." - Marco, CEO of Ensuro

For more details, visit the OneSafe page.

Bitso, BitMEX, or OneSafe: Which is the best platform for you?

In conclusion, while Bitso and BitMEX offer robust solutions tailored to specific needs in the cryptocurrency and trading sectors, OneSafe stands out for its comprehensive approach to both traditional and Web3 financial services. Its user-friendly platform, exceptional customer support, and versatile features make it an excellent choice for businesses looking to manage both fiat and crypto transactions seamlessly. Ultimately, any of these platforms could be a good fit, but we recommend OneSafe for its all-encompassing financial solutions.