SatoshiTango – Is It Good?
SatoshiTango is a cryptocurrency exchange based on Buenos Aires, Argentina that’s trying to convert your crypto assets into normal, everyday currency. They focus primarily on Argentinians, becoming one of the country’s most famous exchanges.
SatoshiTango is one of the few cryptocurrency exchanges that provides the attractive feature of a physical card to pay anywhere with bitcoin, exchanging it into the establishment’s currency immediately.
However they do have long verification processes and their fees may not be the best.
So, how good is SatoshiTango for every user? Is SatoshiTango trustworthy? Do you need to speak Spanish to use it? And, most importantly, how does it stack up against other platforms?
What Does SatoshiTango provide?
As we’ve mentioned before, SatoshiTango’s biggest feature is their physical card that you can use anywhere to pay with your crypto. Having a card means your crypto is always available for anything you need to buy. You don’t need to transfer money from your crypto wallet to your bank anymore. Simply wipe out the card and make every establishment a Bitcoin-accepting establishment.
The verification process however is needed to use any of their services. To sign up you can either use your email or choose to identify with Facebook or Google. Then to verify your identity you’ll need to give out info like your full name, passport information and scans of IDs. This exchange is definitely not the right one for those looking for anonymity.
Their security seems to be fair with two-factor authentication to provide an extra layer of security to your account. Their physical card is also pretty safe since it’s not backed by Bitcoin but by United States Dollars.
SatoshiTango aims to be simple and easy. There aren’t any tables or charts with multiple options. The only cryptocurrencies available besides Bitcoin are Litecoin, Ethereum, Ripple and Bitcoin Cash. This is perfect for newbies that want to get familiar with cryptocurrencies the simplest way possible, however, it may not be attractive to more experienced users that may want to get alt-coins and research their best options at the cheapest costs.
Customer support isn’t the most responsive one, having only an email option. Forget about a live chat or a phone number. You’ll have to exchange multiple emails to solve any issue. However it being such a simple exchange at its core, we doubt that issues are common.
Although SatoshiTango is supported in multiple countries, their primary focus is Argentina and then Latin America. Even if your country is supported by SatoshiTango chances are you won’t be able to use most of their features like their physical card, their referral program or their bill payment system.
SatoshiTango Rates and Buying Limits
SatoshiTango doesn’t charge a flat fee unlike a lot of the exchanges we’ve seen, it only uses an active percentage.
SatoshiTango fee: 2%
The fee may not look like much, that’s only for Argentinian Pesos. The website does accept USD and Euro transfers. The minimum deposit is $10 and the maximum $10,000. This is where the exchange gets expensive. They charge a fixed deposit fee when sending USD. Their fee? $20.00! Their minimum withdrawal amount is also $1,000 per transaction, making it less attractive to American users.
- Perfect for Argentinian beginners: If you’re from Argentina and want to start trading crypto, this is definitely one of the best options out there for you.
- Visa card: Without a doubt the reason why most people would sign up is the posibility of getting a physical card with their crypto backed in USD.
- Simplicity at your fingertips: The design is attractive and intuitive.
- Focused on Argentinians: If you’re not an Argentinian, you won’t be able to take full advantage of this exchange.
- Long verification process: Not only is it not an anonymous option but we found the verification process to be long and a bit of a hassle.
- Lack of support for alt-coins: You’ll be able to buy and sell Bitcoin and other four important alt-coins only.
- Large fees for anything other than Argentinian Pesos: We don’t think you need to pay $20 just to transfer USD.
Go to SatoshiTango
Is SatoshiTango Good For Bitcoin?
SatoshiTango is pretty good for anyone living in Argentina that wants a quick and easy access to crypto. It can be a great starting point for beginners too and their physical card is a great plus. However, for anyone that’s not an Argentinian newbie, SatoshiTango may not be the best option.
If you aren’t in Argentina you may feel left out since you won’t be able to use everything on the platform, like its service to pay for bills or its referral program. Their physical card is also not available for US citizens.
All in all, SatoshiTango is a simple website that may become a big player globally so betting on it it’s your choice, even if you don’t live in Argentina.