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HomeCryptoCurrencySatoshiTango: the Latin bitcoin trading exchange with multiple payment methods

SatoshiTango: the Latin bitcoin trading exchange with multiple payment methods

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Buying and selling cryptocurrencies in Latin America has become an increasingly simple process thanks 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 more years of experience in the region.

SatoshiTango is an exchange in which you can not only trade with bitcoin and other digital assets, it also has additional services that will probably catch your attention. Here you will discover what you should know about the trading SatoshiTango platform.

What is SatoshiTango?

In SatoshiTango you can exchange cryptocurrencies for national currency. Source: SatoshiTango.

SatoshiTango is a exchange of Argentine origin that is available in 33 countries around the world. It was created in 2014, and at first it was only possible to operate with bitcoins from Argentina. With seven years of experience and more than 500 thousand users , the platform has expanded to other countries and has added more cryptocurrencies to make trading .

Something that strikes us about SatoshiTango is that it is one of the few platforms for trading 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 possibility of pay utility bills . You can recharge 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, make margin trading , and buying and selling digital assets. We found that their product portfolio is quite complete, especially for users who live in Argentina.

What you need to do trade of bitcoin in SatoshiTango

SatoshiTango Verification Form. Source: SatoshiTango.

One point to SatoshiTango’s favor 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 the beginning data such as country of residence, email and password are requested, nothing that 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, the 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 to us longer than usual , but the platform interface made it easy to upload the requested 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

Security

SatoshiTango has common security measures among cryptocurrency trading platforms. One of them is two-factor authentication , which greatly reduces the chances of suffering a cyberattack. In addition, we can activate notifications in our email each time we log in.

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

Interface

The interface of SatoshiTango is really simple and user friendly. Source: SatoshiTango.

We liked the SatoshiTango interface. It is one of the simplest that we have 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 it easier to operate.

We were struck by the variety of services that SatoshiTango offers. Not only can we buy or sell bitcoin and other assets quickly and easily, we can also pay utility bills if we live in Argentina, make phone recharges from various parts of the world and buy giftcards from more than 100 different brands, such as Nintendo, Apple Music, Spotify and Macy’s.

Mobile app

In the SatoshiTango app you can buy or sell cryptocurrencies simply and quickly. Source: SatoshiTango.

The app SatoshiTango 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 would not be bad if the exchange added advanced functions, such as the possibility of customizing the parameters of trading . But in general, it is fine to buy or sell crypto assets by national currency.

Support and customer service

On the platform there is a chat box controlled by a bot that is helpful if you have a question or a problem, although it is a bit slow for our liking. If the bot is not what you need, there is also a help center with some of the most frequently asked questions from users. Another option is to contact the support team by email [email protected]

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

Payment methods

This is one of the aspects that impressed us the most about the exchange. It has many payment methods, so it is easy to find one that suits what you need. The methods vary according to 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 even home withdrawal in Buenos Aires.

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

To deposit Mexican pesos, accounts with multiple options, such as transfer SPEI, Mercado Pago , ATM and Oxxo. If you want to deposit bolivars, Brazilian reals or Peruvian soles, the only method available for these currencies is transfer.

Cryptocurrencies

There are ten cryptocurrencies available to buy or sell on SatoshiTango. Source: SatoshiTango.

A disadvantage of SatoshiTango is that it does not 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 coin (USDC).

In which countries is it 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 fees and commissions?

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

The fees for deposits and withdrawals in national currency vary from according to the method and currency. For example, if you want to deposit Argentine pesos with a 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, except for RapiPago, which is 1.21%.

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

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

Advantages and disadvantages

Advantage

  • You can exchange cryptocurrencies for local currency.
  • Includes bill payment service and telephone recharges.
  • Purchase gift cards.
  • Operations of margin trading .
  • The exchange is available in most Latin American countries.
  • User-friendly platform .
  • Disadvantages

    • KYC verification is mandatory.
  • The invoice payment service with BTC is only available in Argentina.
  • The verification process is long.
  • Few cryptocurrencies to operate.
  • Conclusion: Should you do trading of bitcoin on SatoshiTango?

    Our opinion on the SatoshiTango exchange is favorable. We liked the variety of services they offer , including prepaid phone recharges, payment of bills and purchase of giftcards . 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 in Spain. You can do margin trading without complications, since the platform interface is really intuitive . Now, it is also important that you consider the cons.

    For example, KYC verification is mandatory to operate, and the process is a bit long. There are few cryptocurrencies , only ten, and services such as paying bills with bitcoin, are only available to those users who reside in Argentina. Despite this, we consider that SatoshiTango is a good alternative for doing trading with bitcoin in Latin America.

    The Review

    Satoshi Tango

    75 % Score

    SatoshiTango is an exchange of Argentine origin that provides its services in most of Latin America. In this trading platform it is possible to buy or sell cryptocurrencies by national currency, pay utility bills and buy gift cards from multiple brands.

    PROS

    • You can exchange cryptocurrencies for local currency.
    • Includes bill payment service and telephone recharges.
    • Purchase gift cards.
    • Margin trading operations.
    • The exchange is available in most Latin American countries.
    • User friendly platform.

    CONS

    • The invoice payment service with BTC is only available in Argentina.

    • The verification process is long.

    • Few cryptocurrencies to operate.
      Product analysis

      • Security 0%
        • Interface 0%

        • Mobile app 0%
        • Support and customer service 0%
      • Payment methods 0%

    • Cryptocurrencies 0%

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    Sandra Loyd
    Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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