October 16, 2021

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SatoshiTango: Latin bitcoin exchange with multiple payment methods

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Buying and selling cryptocurrencies in Latin America has become an increasingly easier process due to the wide variety of exchanges available to the Hispanic public. It is evident that the market is constantly growing and SatoshiTango is one of the platforms to do trade with bitcoin (BTC) with multiple years of experience in the region.

SatoshiTango is an exchange where you can not only trade bitcoin and other digital assets, but it also has additional services that are likely to grab your attention. Here you will find out what you should know about the trade SatoshiTango platform.

What is Satoshi Tango?

In SatoshiTango you can exchange cryptocurrencies with national currency. Source: Satoshi Tango.

SatoshiTango is an Argentine origin exchange available in 33 countries around the world. It was created in 2014 and at the beginning it was only possible to trade with bitcoin from Argentina. With seven years of experience and more than 500 thousand users , the platform has expanded to other countries and added more cryptocurrencies to do trade .

Something that strikes us about SatoshiTango is that it is one of the few platforms for trade in which you can buy or sell cryptocurrencies by national currency in Latin America . US dollars, Argentine pesos, Brazilian reals, bolivars and euros are some of the supported currencies.

It also caught our attention that SatoshiTango offers us the chance to pay the bills . You can top up mobile phones with prepaid plans. And the process is as simple as entering the phone number and the amount to pay in Argentine pesos. But the invoice payment service is only allowed in Argentina until now.

On the other hand, through the platform you can send and receive cryptocurrencies, do trading on margin and the buying and selling of digital assets. We have found that their product portfolio is quite comprehensive, especially for users living in Argentina.

What do you have to do trade of bitcoin in SatoshiTango

SatoshiTango verification form. Source: Satoshi Tango.

A point in favor of SatoshiTango is that you can access the exchange from various countries in Latin America and Europe. To start trading, the first thing is to register . At first, data such as country of residence, email and password are requested, nothing we have not seen in other similar platforms.

After verifying our email, we will already have an account. Now, to do trade with bitcoin on this exchange, KYC (Know Your Customer) verification is mandatory. The reason is that the company must comply with local and international regulations for the prevention of crime and money laundering.

The verification process seemed longer than usual to us , but the platform interface made it easy to upload the required documents and information. After submitting the information, we received a response from the SatoshiTango team in less than 24 hours. Although the company clarifies that this process can take up to 72 business hours.

Features of the SatoshiTango exchange

Safety

SatoshiTango has common security measures among cryptocurrencies trade platforms. One of them is two-factor authentication , which greatly reduces the chances of a cyber attack. Furthermore, we can activate notifications in our email every time we log in.

The company guarantees that most of the its clients’ funds are stored in cold or offline wallets . And the information on the platform is encrypted with SSL security protocols. Overall, we are satisfied with the security measures of this exchange.

Interface

We liked the SatoshiTango interface. It is one of the simplest that we used, which makes it a good option for beginners. The menu shows us different options: control panel, my account, buy / sell, services and settings. Each section is well identified, which made operation easier.

We were impressed with the variety of services that SatoshiTango offers. Not only can we buy or sell bitcoins and other assets quickly and easily, but we can also pay bills if we live in Argentina, make phone top-ups from various parts of the world and buy gift cards from over 100 different brands, such as Nintendo, Apple Music, Spotify and Macy’s.

Mobile app

In the SatoshiTango app you can buy or sell cryptocurrencies quickly and easily. Source: Satoshi Tango.

The SatoshiTango app is available for iOS and Android devices. It has the same functions as the desktop version, but from the comfort of your smartphone. Its design is quite practical, although it wouldn’t be bad if the swap added advanced features, such as the ability to customize the parameters of trade . But in general, it’s okay to buy or sell cryptocurrencies in the national currency.

Support and customer service

There is a bot controlled chat box on the platform which is useful if you have a question or a problem, even if it’s a bit slow for our tastes. If the bot isn’t what you need, it’s there too a help center with some of the most frequently asked questions by users. Another option is to contact the support team by email [email protected]

When using this medium to solve a question, we got the answer quickly, even more than we expected. We have found your customer service to be efficient and helpful.

Terms of payment

This is one of the aspects that struck us the most about the exchange. It has many payment methods, so it’s easy to find one that suits what you need. Methods vary depending on the national currency. In the case of the Argentine peso, you can make deposits by bank transfer, PagoFácil, RapiPago, Mercado Pago, credit card, CuentaDigital and also home collection in Buenos Aires.

To withdraw Argentine pesos, the methods available are wire transfer, Mercado Pago and RapiPago. If it is cryptocurrencies, to deposit we only need to select the currency and send the funds to the address. If you wish to withdraw, enter the address you will be sending the money to.

To deposit Mexican pesos, you have multiple options, such as a transfer SPEI, pay market, ATM and Oxxo. If you wish to deposit bolivars, Brazilian reals or Peruvian soles, the only method available for these currencies is by transfer.

Cryptocurrencies

There are ten cryptocurrencies available for purchase or sale on SatoshiTango. Source: Satoshi Tango.

One drawback of SatoshiTango is that it doesn’t have many options when it comes to cryptocurrencies. According to their website, there are only 10 for now: bitcoin (BTC), ether (ETH), litecoin (LTC), XRP, bitcoin cash (BCH), cardano (ADA), dogecoin (DOGE), DAI, tether (USDT). ) and USD currency (USDC).

In which countries it is available

The exchange provides its services in 33 countries , including Argentina, Brazil, Chile, Spain, Peru, Venezuela, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Bolivia, Mexico, Nicaragua, Panama, Paraguay and Uruguay.

What are SatoshiTango’s fees and commissions?

L the commission for buying or selling cryptocurrencies on SatoshiTango is 1% . In the case of bitcoin, there are no fees for making deposits, while, for withdrawing, the fee is 0.0002 BTC.

Fees for domestic currency deposits and withdrawals vary by method and currency. For example, if you want to deposit Argentine pesos by credit card, the commission is 3.49% + VAT. This can be done in several installments, up to 12. For withdrawals with ARS there are no commissions, with the exception of RapiPago, which is 1.21%.

For the sale of cryptocurrencies in national currency, the exchange charges 1% on each trade. If the transaction is cryptocurrency to cryptocurrency, the commission is 0.5% . There are two types of errands to run trading on margin. The first is the closing fee, which is 1%. The second is the interest rate, which is 0.05% per day for the borrowed money.

On the SatoshiTango website you can find out all the rates for trade and fees for deposits and withdrawals of each currency.

Advantages and disadvantages

Benefit

  • You can trade cryptocurrencies with local currency.
  • Includes bill payment service and telephone top-ups.
  • Buy gift cards.
  • Operations of trading on margin .
  • Exchange is available in most Latin American countries.
  • Easy to use platform.
  • Disadvantages

    • KYC verification is required.
  • The BTC invoice payment service is only available in Argentina.
  • The verification process is long.
  • Few cryptocurrencies to trade.
  • Conclusion: should you do it? trade of bitcoin on SatoshiTango?

    Our opinion on the SatoshiTango exchange is favorable. We liked the variety of services they offer , including prepaid phone top-ups, bill payments and the purchase of gift cards . It is very easy to buy or sell cryptocurrencies in exchange for local currency such as Argentine pesos, euros, US dollars or bolivars.

    On the other hand, the exchange provides its services in much of Latin America and Spain. You can do trading on margin without complications, as the platform interface is really intuitive. Now, it’s also important to consider the cons.

    For example, KYC verification is mandatory to work and the process is a bit lengthy. There are few cryptocurrencies , only ten, and services such as paying bills with bitcoin, are only available to those users residing in Argentina. Despite this, we believe that SatoshiTango is a good alternative to do trade with bitcoin in Latin America.

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