Bitso Reviews

3.8

69% would recommend to a friend

(100 total reviews)
avatar

Daniel Vogel

76% approve of CEO

67% positive business outlook

Bitso has an employee rating of 3.8 out of 5 stars, based on 100 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Bitso employee rating is in line with the average (within 1 standard deviation) for employers within the Finance industry (3.7 stars).

Reviews by job title

100 reviews
3.0
8 Nov 2022

Don’t do this to your career!

Anonymous employee
Recommend
CEO approval
Business outlook

Pros

The salary and benefits are great. Unlimited PTO is awesome and people don’t care if you take some days off ; There are amazing people with deep knowledge of crypto. It’s a good place to learn about it

Cons

There is no continuous work quarter over quarter and goals change a lot. The teams try to tackle a lot of bets at the same time and there’s no time to go deep. New Product are develop based on top downs ONLY. Firing people like it is nothing: people are constantly fired, including C level. It is a reflection of confusion on goals and when someone disagrees or doesn’t do exactly what they want, they are let go, no matter if it is C-level or not. The turnover is something to consider, especially with people being let go for no specific reason. They treat people like it’s nothing. BE MINDFUL OF IT. The leaders don’t lead. In general, leaders are not worried about people’s psychological safety, don’t have proximity to develop or share feedback, and some of them are toxic just to justify the “execution” culture. The engineering/product/design leaders don’t agree on priorities and leave it to the teams to decide -when it’s clearly their job to do so. When you have a blocker, don’t count on your leader, they are not there to help you or your career. Terrible communication: as things change a lot, you never know what is the change of the month - so you don’t know what to focus on. Also, the leaders don’t seem to talk to each other. If you want to learn what the teams are doing, you need to join thousands of slack channels to keep informed, which is impossible to get track of everything. Weird culture: People try to get credit for things they didn’t do, and no psychological safety to share difficult situations with leaders. In practice, Bitso cultivate a feature-factory mindset and don’t care about development best practices, don’t care if a new feature will increase tech debit, don’t care about discovery (and the ones that questioned that were fired at some point): they want to see a roadmap and dates - which is seen as a commitment, no space for changes unless you explain everything in detail. The engineering and product culture are the worst. Also, everything is a priority: They want everything for yesterday AND they want all things at the same time. You try to prioritize and show the impact but they keep questioning. If the leaders agree on the priority, in the next week they will ask you why feature x is not fixed yet - well, it was agreed that way. This wears out a lot and prevents teams from delving into solutions. Other things to mention: diversity is not that important, even though the company support diversity of culture the team is majority male and white. It’s not clear what takes for people to get promoted, you need to have that in mind.

1.0
8 Mar 2022
Recommend
CEO approval
Business outlook

Pros

They offer a competitive salary and for those who are looking for a remote job, Bitso is 100% remote.

Cons

The have "Embrace freedom" as value intended to employees to be responsible, however people misunderstand this value and everyone (at least in the finance department) expects you to be available 24/7. They associate good work and top performance with working hours and burn-out. They don't like feedback, they take it to personal and never look for opportunity areas. they think that their job is so perfect that with one comment or challenge they found you hard to work with.

1.0
27 Jul 2023

Horrible Management

Anonymous employee
Recommend
CEO approval
Business outlook

Pros

Met awesome and incredible people

Cons

I got layoff for absolutely no reason. Super unstable job - One day we are all cheering and the other we are all crying because of a Crypto Winter, which no one can control. Better pray that the Crypto market keeps growing. Horrible management of priorities and work balance - People need to work on weekends and late hours because of projects that are due in 1 week, leaving other important tasks on hold. Very stressful - Constant change of providers, projects, laws and internals managements (layoffs) due to the unstable nature of Crypto. This requires extra work because a Government requires "X" info from Bitso; banks requires "X" info from Bitso; new Crypto law requires "X" from Bitso. Guy "X" was layoff so you will do his job. Some of these require a new flows/designs from scratch in a short period of time for Bitso to remain legal. You can imagine... Holidays - Policy of flexible paid time is subjective. Is true you can go on vacations whenever you please, but you feel morally guilty to leave your colleagues with all that work or you wanna show that we are hardworking, so you don't take them. In a year, got 2 national holidays (other national holidays I was working, including working on weekends) and was layoff before my first official holiday with all expenses to be paid, which bring us to... Be Human - No real feedback is given. You have feedback sessions from colleagues and managers to talk about the current status of our work. Even though, the feedback from colleagues and managers is positive, you still get layoff with no warning. They just decide to layoff if things get bad. There's no empathy and honesty. None of these decisions are reported to you in a timely manner to prepare you for the future (with bills to pay, loans, cars etc). Crypto 20% down in one day? Let's see who is more expendable to layoff this month... Compensation - Below average. If you use some benefits like health insurance, mental platform and any other membership, its becomes average. Employee stock program - You have the option to buy a stock for "X" price (yes you have to pay). But since it's a privately held company, who are you going to sell that stock to? In the stock market? It's not listed there... There are 3 scenarios: Another company wants to acquire Bitso (and your stock) and pays for it; someone in Bitso wants buy it back from you or Bitso is listed in the stock market and you can sell it to the public. Until then, your stock value would decrease/increase until one of those things happen...Is it worth it? Conclusion - The core of the company are the engineers. I would say that they are the ones with the "safest" position and people who are already working there for plus 2-3 years (If you make there). The rest is likely to last less than 1 year. Would not recommend if you wish for a stable job. Maybe it's the future, maybe it's not. No one can tell. Career opportunities: If you make it above 1 year, there's a chance. Culture and values: Null. They don't care about their principles - Human is above, Drive chance: Better work 18 hours and pray it works. Bold honesty: Null. positive feedback, yet you are layoff. Be an owner: Basically is "Good luck working by yourself" since everyone is busy, no one can help you. Diversity and inclusion: Self proclaimed worldwide remote company with people still currently working somewhere around the globe, yet they layoff (almost) everyone outside of latim america (I wonder why?) They want to make the diversity be 95% latim america? Senior management: Null. They will throw you some companies meetings regarding the status of current projects but in reality is more deep and they will not tell you the full story. Work life/balance: No more comments needed.

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