Bitso vs Binance: which one fits how you buy

If you have just moved to Mexico and asked a coworker which exchange to use, you probably got two answers: Bitso and Binance. Both take pesos by SPEIMexico's interbank transfer system, run by Banxico. Transfers between Mexican banks settle in seconds, 24/7., both ask for a CURP and both route your pesos through a company authorized by Mexico's banking regulator, the CNBV. Past that, they differ on nearly everything that costs you money or time.

We do not crown an overall winner. Below is a data table, then a verdict for each common situation, with the math in pesos.

Bitso vs Binance at a glance

Two cells need context. Bitso's fee page says deposits credit "in under 24 hours", but in practice they take minutes. On Binance, the public API showed five spot pairs trading against MXN when we checked: USDT, BTC, ETH, SOL and USDC. Outside the order book, the app also lets you spend a peso balance through "Buy" or "Convert", where the cost may sit in the spreadThe gap between the price you are quoted and the market price. It does not show up as a separate fee..

Bitso vs Binance fees, in pesos

Bitso charges by whether you are a maker or takerA maker posts a limit order that waits on the book. A taker fills an order already there and pays more. and by 30-day volume. Binance charges a flat 0.10% on spot for regular users, or 0.075% if you pay fees in its BNB token.

On a MXN 10,000 purchase:

• Bitso as a taker: 0.78% = MXN 78. As a maker with a limit order: MXN 60.
• Binance spot: 0.10% = MXN 10, or MXN 7.50 paying in BNB.

Per trade, Binance costs six to eight times less. The gap narrows on the way out: Bitso does not charge to withdraw pesos, and Binance does not publish its MXN withdrawal fee on its help page. There is also a hidden step on Binance if your route to bitcoin goes through USDT: pesos to USDT and USDT to BTC are two trades, 0.20% in total. Still cheaper than Bitso, but not 0.10%. The direct BTC/MXN pair skips that second trade; compare its spread before you choose.

Verdicts by scenario

You buy MXN 2,000 of bitcoin every month

On Bitso, a taker buy costs MXN 15.60, about MXN 187 a year; with limit orders, MXN 12 a buy and 144 a year. On Binance, going pesos to USDT to BTC, it is about MXN 4 a buy, 48 a year. The yearly difference is roughly MXN 100 to 140.

Verdict: for the lowest cost, Binance. For free, fast withdrawals to your bank on the same platform where you buy, Bitso, at a small premium. For a buy every quincena, plenty of people pick Bitso for the simplicity. More in the bitcoin guide.

You want to trade USDT on P2P

No contest: Binance. Bitso has no P2P ad marketplace; Bitso Transfer moves money to another Bitso user but is not a way to buy from strangers. Binance lists USDT ads paid by SPEI, bank transfer or OXXO, with escrowThe platform locks the seller's coins until they confirm your payment, then releases them to you.. You will need a Mexican bank account in your own name to pay or get paid. Read our P2P guide before your first trade.

If you just want USDT for pesos without dealing with anyone, Bitso has a direct USDT/MXN book and Binance lets you buy with your Medá balance.

You need pesos in your bank today

Bitso. Sell and withdraw by SPEI to your CLABE, debit card or phone number at no cost. Binance peso withdrawals take one to three business days. The fast workaround on Binance is selling on P2P to a buyer who pays you by SPEI, which works but adds counterparty risk. The cash-out guide compares the routes.

You receive USDT from family or clients in the US

Bitso, for the exit: receive USDT, sell on the USDT/MXN book and withdraw for free. Make sure the sender uses a network Bitso accepts; as a reference, Bitso charges 0.01 USDT to withdraw USDT on Polygon and 3.4 USDT on Tron. Binance works for receiving too, but the withdrawal wait hurts when the money is needed that week. Our remittance guide walks through it.

You want altcoins, meme coins or Pi

Binance, on range: hundreds of coins against a few dozen on Bitso. Buy USDT with pesos and swap. If you are after Pi, neither lists it; the Pi Network guide covers real routes.

You trade more than MXN 1 million a month

Binance, on fees. Above 1,000,000 in volume, Bitso charges 0.55% maker and 0.715% taker, while Binance stays at 0.10% or less with VIP levels. Bitso only gets down to 0.10% and 0.13% above 150 million. For single large tickets, also look at OTC desks in our OTC guide.

You do not have a CURP

Neither lets you use pesos. Both accept crypto you send from elsewhere, but no CURP means no SPEI. If you hold temporary or permanent residency, you already have a CURP and can register it. If you are a visitor, buying by card on a platform that bills in dollars is the direct route, and a US-dollar card avoids the FX conversion.

Safety and regulation: closer than you would think

In Mexico, Bitso and Binance use the same formula: an IFPEInstitución de Fondos de Pago Electrónico: a CNBV-licensed fintech that holds electronic money in pesos. for pesos and a foreign entity for crypto. Bitso's Nvio Pagos México was the first IFPE authorized, in 2020; Binance's Medá was authorized in 2022 and launched in 2025. In both cases your pesos are not covered by IPAB, and neither holds a Mexican license to sell crypto, because the rules do not offer one.

The difference is track record. Bitso runs its crypto business under a Gibraltar DLT licence granted in 2019, whose current status we could not confirm on the register. Binance pleaded guilty in the US in 2023 over anti-money-laundering failures and agreed to pay USD 4.3 billion. Neither fact predicts tomorrow, but both tell you how each firm stands with its regulators. Our page on whether crypto is legal in Mexico explains the framework.

Bitso vs Binance vs Coinbase

Many Americans and Canadians arrive in Mexico with a Coinbase account already open, so it is a natural third option. Secondary sources say Mexico residents can open accounts, and Mexico is on Coinbase's USDC region list. What we could not confirm is a peso rail: we found no official documentation of SPEI deposits or withdrawals. In practice, that means funding by card or with crypto from elsewhere, and cashing out to a Mexican bank by sending crypto to Bitso or Binance first. If you keep a Coinbase account from your old country, remember that your declared residence should match where you actually live. See what works and what does not in our Coinbase review.

Taxes are the same on both

The SAT does not care which exchange you used. If you are a Mexican tax resident and sell at a gain, it goes in your annual return; if you are a US citizen, it also goes to the IRS. If you use both platforms, export the history from each. Our crypto tax guide covers residents and non-residents.

The short rule

If your priority is moving pesos in and out without friction, with free bank withdrawals and direct MXN markets, pick Bitso; our Bitso review goes deeper. If your priority is the lowest per-trade fee, P2P or hundreds of coins, pick Binance; see the Binance review. If you buy small amounts often, the cost gap is small, so choose the one you find easier and compare the rest on the reviews hub.