How to Buy Cryptocurrency in Brazil

Buying cryptocurrency in Brazil

Buying cryptocurrency in BrazilBitcoin is quite popular in Brazil and is considered South America's largest market for cryptocurrency. Brazil even set a record for most Bitcoin traded in one day in Latin America, where over 100,000 BTC were exchanged. There are no restrictions on individual buying, sales or use of cryptocurrencies for non-criminal intentions. The Central Bank of Brazil has twice stated its opinion on Bitcoin and digital asset regulations - neither does it regulate nor supervise transactions that include virtual currencies. However, the Bank has expressed its concerns regarding the actual nature of trading with cryptocurrencies. As far as ATMs go, a Brazilian company named Coinwise offers three, while Arbitz provides a list of ATMs and businesses accepting BTC and other cryptocurrencies as a method of payment. Unfortunately, several scams and hacks involving Bitcoin in Brazil made its users wary, but they did highlight the importance of taking reasonable steps to protect investments
As of 20/03/2021

Exchanges Info

These exchanges all accept customers from Brazil. While they broadly offer the same services and you can buy cryptocurrency at all of them, there can be differences in transaction fees, security, verification requirements, deposit methods and features, as shown below

Open a eToro Account

eToro AUS Capital Limited ACN 612 791 803 AFSL 491139. Smart Portfolios are not exchange-traded funds or hedge funds and are not tailored to your specific objectives, financial situations and needs. Your capital is at risk. See PDS and TMD

eToro

eToro is a social trading platform that allows you to buy into cryptocurrencies. It also has an innovative Copy Trader feature where you can choose to follow other successful traders and automatically copy their trades to hopefully share in their success

Pros
  • Fully regulated financial institution
  • Trade crypto
  • Follow and copy the trades of expert traders
Cons
  • Fees (spreads) are high
  • Only USD as base currency
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Bybit

Based in Singapore and registered in the British Virgin Islands, Bybit is a P2P cryptocurrency exchange offering perpetual futures products with 100:1 leverage. Bybit can process 100k transaction per second which is a great feature for leveraged trading.

Pros
  • Advanced and secure technology
  • Anonymous accounts
  • Attractive trading bonuses
  • Very low fees
Cons
  • Limited asset coverage
  • No option instruments
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Kraken

Kraken has a good reputation for security and protection of your funds and operates across the USA (except NY), Canada, the EU and Japan

Pros
  • It can be used to trade against fiat options
  • Robust security measures
  • Free SEPA deposits in Europe
Cons
  • Not a very beginner-friendly interface.
  • No card deposit options
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