How to Buy Cryptocurrency in Uruguay

Buying cryptocurrency in Uruguay

Buying cryptocurrency in UruguayThanks to Uruguay’s blockchain and cryptocurrency-friendly stance, trading cryptocurrency is quite easy. No official regulation banning or permitting cryptocurrencies exists in Uruguay, making it a bit of a borderline case. Despite these unclarities, the citizens of Uruguay are free to own crypto, so long as they don’t use them for any illegal activities. Furthermore, Priapolis, a popular beach resort in Uruguay, has found a new use for cryptocurrency. People are encouraged to deposit plastic waste at a designated location, where they receive cryptocurrencies in return. The project was created having in mind the fact that the country has been dealing with over-tourism and beach pollution for years. So, Juan Rivero and Nicole Wyaus, two environmentalists and crypto enthusiasts, managed to convince a government authority, the National Agency for Development (ANDE), to pilot this project. Named plasticoin, the project was an attempt to help clean up coastal lines by using cryptocurrency.
As of 20/03/2021

Exchanges Info

These exchanges all accept customers from Uruguay. 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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