How to Buy Cryptocurrency in Costa Rica

Buying cryptocurrency in Costa Rica

Buying cryptocurrency in Costa RicaInspired by the Venezuelan Petro, Costa Rican entrepreneurs attempted to develop Costa Rica's very own cryptocurrency and succeeded. CRCoin was launched into the world with 40 businesses prepared to accept it as a valid payment. Cryptocurrencies aren't prohibited in Costa Rica. In fact, they are recognized as a legitimate payment method. What's even more interesting is the fact that people are even entitled to get a portion of their wages in cryptocurrencies, highlighting the country's willingness to invest in developing blockchain technology which could encourage greater acceptance of cryptocurrencies in the long run. Unfortunately, other factors also come into play. Cryptos aren't recognized as an official currency by the Central Bank and the fiscal regulations of cryptos fall into a grey area. Despite this, the country's rising interest in blockchain and its untapped potential for storing renewable resources to sustain crypto mining could lead to better adoption of digital assets long term.
As of 20/03/2021

Exchanges Info

These exchanges all accept customers from Costa Rica. 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 Ltd ACN 612 791 803 AFSL 491139. OTC Derivatives are speculative and leveraged.

eToro

eToro is a social trading platform that allows you to buy into cryptocurrencies, international stocks and shares and more complex financial assets. 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, stocks and other financial assets
  • 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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