Facts about Bitso exchange
The history of Bitso began when it was founded in 2014 and established as a centralized cryptocurrency exchange. In 2019, Bitso managed to become the first DLT licensed exchange in South America.
The exchange has a truly international team as it continuously hires specialists from all over the world. At the moment, the total number of the company’s employees is around 600.
Coingecko reveals that, at the current moment (April 2024), the Bitso exchange provides access to 51 coins that can be traded in 90 pairs.
Bitso lets their users receive yield if they join their Bitso+ program.
Listing on Bitso
Bitso is the largest crypto exchange in Mexico and according to the company, nearly 90% of traders are from this country. It means that listing on Bitso will open direct access to one of the most promising and quickly expanding crypto markets.
Listing on the platform is not easy, as the exchange is still catching up with the TOP 100 tokens to list. However, read further to check how we can support you on your way to getting listed at Bitso.
Bitso’s score metrics
When choosing a venue for listing, it is important to check its reputation and general rank in comparison to other exchanges. A good choice is to check how CoinGecko, CoinMarketCap, and Nomics rate the exchange.
CoinGecko uses Trust Score, a rating algorithm evaluating the legitimacy of an exchange’s trading volume. Trust Score is calculated on a range of metrics such as liquidity, the scale of operations, cybersecurity score, and more. Bitso’s Trust Score is 8. Only 10% out of more than 500 cryptocurrency platforms have Trust Score of 8 or higher.
CoinMarketCap’s Exchange Score is based on the following factors:
- Web Traffic
- Average Liquidity & Volume
- the Confidence that the volume reported by an exchange is legitimate. Weights are assigned to the above-mentioned factors and a score from 0.0 to 10.0 is given to the Spot Exchange.
Bitso’s Exchange Score is 5.1.
Nomics’ metric is called Impact Score – and represents an exchange’s influence on the price of cryptocurrencies it trades. The score is a combination of web traffic, volume, and other factors.
Bitso’s Impact Score is 5.46.
The second Nomics metric, called Transparency Rating is A (Full Transparency). Nomics explains the purpose of these scores as rating cryptocurrency exchanges by their willingness to provide auditable history.
CryptoCompare has established the notion of Top-Tier volume whereby investors can segment the market into higher and lower-risk volumes (A is the best and E is the worst grade).
Here’s the current CyptoCompare’s classification of Bitso (score: B) in comparison with other exchanges:
Listing requirements
When you apply for a listing, the legal team will examine your documentation, which usually includes the certificate of incorporation, legal id of team members, whitepaper, etc. In certain cases (like stable coins), they may require additional documents. You will be asked to provide key information about your token, team, and community. This information should persuade the exchange team that your token will be successful after listing. Take the time to do it well.
The project review consists of several key points:
- Project Introduction: The token issuer should write a short summary of what the project does or fill out a form providing necessary project details and information for review by the exchange’s team.
- Token Overview: This includes chain type (BSC, ERC, TRC, etc.), blockchain explorer, smart contract address, use of token, etc.
- Token Economics and Fundraising: You will be asked to provide information about token distribution, token unlock schedule, or conducted token sales.
- Marketing Strategy and Community: To check the user engagement and quality of business partnerships, the exchange will check community hubs with their main geographies. They check the website, Twitter, and Telegram channels, including the number of followers and likes per post. Projects should also introduce strategic partnerships with expected results.
- Project Team: Introduce your team members with bio descriptions of the Founder/CEO and core members, including Linkedin profile links..
- Listing Plan: Outline your plan for listing the token. If it’s not your debut, you’ll need to provide the exchange team with information on your existing markets and trading volumes on them.
- Market Maker: You must specify a market maker who works with you and provides initial liquidity during the listing.
By addressing these points thoroughly, you increase the probability of the approval and entry into negotiations.
We help token projects get listed on Bitso. We can introduce you to their listing team and verify the communication channels to protect you against scams. We also can help you in the negotiation process and ensure liquidity for your token at the very first moment of your listing. You can specify Empirica as your market maker – that could be an extra point for you :)
Contact us to learn how to increase your chances of a successful listing on Bitso.
Listing fee
Most exchanges do not officially disclose listing fees, which can vary widely across different spots. Sometimes, exchanges may not charge anything for listing, while other times the fees can be substantial, with no upper limit. These amounts are always under NDA, so you probably will not find any credible information on them across the websites.
We can provide you with an overview of the listing costs on various exchanges based on our experience. Schedule a free consultation. We can discuss the best listing strategy for your token. You can consider our help in the fee negotiation process.
Listing on Bitso with our help
We can help you prepare for listing your token and managing liquidity on Bitso and other exchanges. The usual process looks like this:
- We set up a call to understand the phase of your project. The following points will be discussed:
- Are you already listed on DEXes or CEXes?
- What is the tokenomy of your project?
- Do you have a listing strategy for your token?
- We discuss the best possible liquidity strategy for your project.
- If we agree to set up a partnership, we introduce you to verified managers of one or more exchanges (listing support).
- After your project gets listed on an exchange, we help you build your markets on platforms.
Why do I need a market maker?
Managing a token startup is a real challenge. As a cryptocurrency project, you need to focus on building your products and services and leave liquidity to market makers.
A market maker will help you:
- deepen the liquidity on your token’s books and make them more stable – which helps mitigate the price fluctuations of your coin
- lower spreads between bids and asks so that the prices get fairer for investors; that reduces the cost of entering and exiting positions and encourages investors to trade your coin
In the 24/7 cryptocurrency markets, well-managed assets are supported by algorithmic market makers. They provide liquidity through their market-making services, supported by fully automated software algorithms. Empirica’s liquidity products are reputable top-notch algorithmic market-making solutions.
