Choosing the right cryptocurrency exchange in Brazil can be a daunting endeavor, considering the multitude of available options. Brazil has established itself as a prominent player in the global cryptocurrency market, attracting an increasing number of investors and traders in search of trustworthy platforms regulated by the Brazilian Securities Commission (CVM). In this article, we will delve into the top six cryptocurrency exchanges in Brazil to assist you in making a well-informed decision.
Top 5 Cryptocurrency Exchanges in Brazil Reviewed
In order to aid you as you start your cryptocurrency journey in Brazil, we have conducted a comprehensive evaluation of the top 6 trading platforms in the country. These platforms are recognized as the most reliable choices available to you:
- MEXC – Extensive Altcoin Selection, P2P Trading, Global Reach
- Bybit – Advanced Futures Trading, Portuguese Support, Diverse Crypto Portfolio
- Binance – Comprehensive Cryptocurrency Hub, Spot and Futures Trading, Multiple Fiat Deposit Options
- Mercado Bitcoin – Leading Local Exchange, Vast Crypto Offering, NFTs, Football Fan Tokens
- OKX – High Security Standards, KYC Verification, Extensive Cryptocurrency Selection
1. MEXC
MEXC stands out as a versatile cryptocurrency exchange in Brazil, granting access to an extensive array of cryptocurrencies, offering the lowest trading fees and boasting more than 2000 trading pairs. It emerges as the preferred choice for those who wish to delve into the realm of altcoins. However, it’s important to bear in mind that MEXC does not facilitate fiat exchange or withdrawals, restricting traders to acquiring coins solely with US dollars and potentially requiring the use of a P2P network for cashing out.
Despite this constraint, MEXC offers a comprehensive suite of services, encompassing margin trading, EFT indices, and a futures market. Additionally, the exchange extends support to a variety of fan tokens and frequently organizes engaging sports betting campaigns.
If you want to learn more about the platform, you can read our full MEXC review.
Spot Fees: 0.1% flat
Futures Fees: 0% maker / 0.02% taker
Supported Cryptos: 1600+
Futures Contracts: 400+
BRL Payments: Bank transfer, credit card, P2P
Customer Support: Multi-language customer support 24/7
2. ByBit
ByBit, a leading cryptocurrency exchange, is specifically tailored to serve the Brazilian market with a platform entirely accessible in Portuguese. Boasting an impressive portfolio of over 400 crypto assets and offering deep liquidity in both spot and futures markets, Bybit has established itself as a trusted and reputable platform on the global stage.
One of Bybit’s standout features is its seamless deposit methods, which accommodate the Brazilian Real (BRL), providing exceptional convenience for local traders. Renowned for its cutting-edge futures trading platform, Bybit empowers users with the ability to leverage their positions by up to 100x, making it an attractive choice, particularly among seasoned traders.
If you want to learn more about the platform, you can read our full Bybit review.
Spot Fees: 0.1% maker / 0.1% taker
Futures Fees: 0.02% maker / 0.055% taker
Supported Cryptos: 430+
Futures Contracts: 240+
BRL Payments: vía PIX(Fiat)
Customer Support: 24/7 live chat support
3. Zoomex
Zoomex, a recently established cryptocurrency exchange founded in 2021 and headquartered in Singapore, introduces an innovative approach. It presents users with the option to select between a decentralized exchange and a centralized exchange, catering to their individual preferences. Each version of the platform offers distinct features and opportunities.
Zoomex simplifies the process of acquiring cryptocurrencies with fiat assets by providing multiple payment channels. Offering a vast selection of over 100 crypto assets available for trading, encompassing inverse perpetual and USDT perpetual derivatives, Zoomex has garnered significant attention and a growing user base not only in Brazil but also in regions such as Korea, Japan, Europe, and South Asia.
If you want to learn more about the platform, you can read our full Zoomex review.
Spot Fees: Zero transaction fees but no Spot Trading
Futures Fees: Makers 0.02%, Takers 0.06%
Supported Cryptos: 100+
Futures Contracts: 50+
BRL Payments: Wire and Online financial methods via USD
Customer Support: LiveChat and Customer Center
4. Binance
Binance is the largest cryptocurrency exchange globally with over 120 million users worldwide, and enjoys significant popularity among Brazilian traders. Offering a comprehensive array of features, Binance stands as one of the most extensive platforms globally, second only to Bybit.
Within the Binance ecosystem, users can partake in a multitude of activities, including trading, staking, earning, lending, borrowing, and spending thousands of tokens. The platform encompasses both derivatives and spot trading, crypto loans and staking, a crypto card, and even an NFT marketplace.
Binance’s extensive offering includes access to over 600 cryptocurrencies and more than 1,000+ trading markets, catering to the needs of both day traders and long-term investors (HODLers). Investors in Brazil have various methods to purchase cryptocurrencies through Binance, such as direct Brazilian Real top-ups, credit/debit card purchases (with fees of up to 2%), and fee-free bank transfers. Binance further facilitates transactions through its P2P marketplace, enabling customers to acquire cryptocurrencies using diverse payment methods.
In addition to its broad range of services, Binance provides traders with access to futures, leveraged tokens, and advanced financial products. The platform extends support for crypto staking, yield farming, loans, and lending services, along with options for margin and strategy trading.
If you want to learn more about the platform, you can read our full Binance review.
Spot Fees: 0.1% maker / 0.1% taker
Futures Fees: 0.02% maker / 0.04 taker
Supported Cryptos: 385+
BRL Payments: PIX, wire and external financial systems, P2P
Customer Support: 24/7 live chat support
5. Mercado Bitcoin
Established in 2013, Mercado Bitcoin stands as a highly reputable exchange within Brazil, offering an extensive array of digital assets encompassing cryptocurrencies, utility coins, and fan tokens. Notably, it has also integrated an NFT marketplace tailored for the Brazilian audience.
One of Mercado Bitcoin’s notable strengths lies in its support for funding accounts with Brazilian real through bank transfers, a feature devoid of any deposit fees. The platform accommodates both beginners and seasoned traders through two distinct interfaces. Novice users benefit from a simplified dashboard tailored for basic cryptocurrency transactions, while more experienced traders can access the advanced trading platform, complete with features such as order books and margin trading.
Mercado Bitcoin operates on a maker-taker fee structure, with taker fees potentially reaching 0.70% per transaction and maker fees set at 0.30%. Notably, traders can substantially diminish these fees by up to 95% by scaling up their trading volume.
For newcomers seeking guidance within the cryptocurrency market, Mercado Bitcoin provides a sister platform called MezaPro, offering personalized support. Additionally, the exchange offers a convenient mobile app, ensuring security through two-factor authentication, including biometrics.
If you want to learn more about the platform, you can read our full Mercado Bitcoin review.
Futures Fees: Maker 0.30% – Taker 0.70%
Supported Cryptos: 200+
Futures Contracts: 50+
BRL Payments: Bank Transfer
Customer Support: Email and Social Media
Pros of Mercado Bitcoin :
- Facilitates local deposits through bank transfers
- Availability of fan tokens
- Facilitates local deposits through bank transfers
Cons of Mercado Bitcoin:
- Lacks credit/debit card payment options
6. OKX
OKX emerges as a high-quality exchange that offers a rich array of features tailored to cater to the unique requirements of every user. With a vast selection of over 500 cryptocurrency pairs, crypto futures and options, an NFT marketplace, staking, and lending services, OKX provides a comprehensive trading experience that covers both spot and futures markets.
OKX distinguishes itself by offering separate exchange platforms dedicated to spot, futures, and options trading, each equipped with its proprietary charting tools and technical analysis resources. This flexibility ensures that both beginners and seasoned traders can navigate the exchange effectively, facilitated by various iterations of the OKX app.
Furthermore, OKX maintains competitive fee structures that become even more favorable as users accumulate OKX Blockchain tokens (OKB) or expand their asset holdings and trading activities. The exchange prioritizes security, employing advanced measures like cold storage facilities and distributed architecture to safeguard digital assets, addressing a critical concern in today’s crypto exchange landscape.
If you want to learn more about the platform, you can read our full OKX review.
Spot Fees: Flat 0.1% fee
Futures Fees: 0% for makers and 0.2% for takers
Supported Cryptos: 300+
Futures Contracts: 200+
BRL Payments: PIX, local payments processors.
Customer Support: 24/7 help center and Mail
Are Cryptocurrency Exchanges Legal in Brazil?
Brazil is home to a multitude of cryptocurrency exchanges, and until recently, a formal regulatory framework for digital assets or crypto providers was absent. However, in April 2022, Brazil enacted legislation aimed at regulating cryptocurrencies within its borders. While concrete regulatory guidelines are still in the works, this development holds the potential to shape the cryptocurrency landscape in Brazil.
Notably, Brazil maintains a hospitable attitude toward cryptocurrencies. As an example, the country intends to offer import tax exemptions on essential hardware for Bitcoin miners, encouraging their operations within Brazil. We highly recommend you consult with a local accountant. Capital gains tax may apply.
How to buy Crypto in Brazil
To summarize, below is a comprehensive step-by-step guide for purchasing digital assets through some of the top cryptocurrency exchanges in Brazil. While the exact procedures may vary slightly, the general requirements are consistent across most platforms.
Step 1: Register for a Free Account
Getting started with a Brazilian cryptocurrency exchange is a straightforward process that typically takes just a few minutes. The initial registration involves providing an email address, selecting a username, and setting a secure password for the account. After confirming the email address, users are often prompted to input personal information, including their full name, date of birth, residential address, and contact number.
Step 2: Identity Verification
Most cryptocurrency exchanges in Brazil require users to complete identity verification. This usually entails submitting a copy of an official identification document, such as a valid passport or driver’s license. Some exchanges may also request additional documents like a bank statement or utility bill to verify the user’s address. The identity verification process is typically automated and swiftly executed.
Step 3: Deposit Funds
The minimum deposit requirements for Brazilian users may vary depending on the chosen platform. To fund their accounts, users can typically initiate bank transfers or provide credit/debit card details. Some exchanges may offer the option to link e-wallets such as PayPal for added convenience. If the selected exchange primarily operates in USD and you’re depositing Brazilian real, be aware that a 0.5% foreign exchange (FX) fee may apply.
Step 4: Locate Your Desired Cryptocurrency
Most cryptocurrency exchange platforms include a search function to help users locate the specific cryptocurrencies they intend to invest in. Simply use the search bar to input the name or symbol of the desired cryptocurrency, and review the available information provided.
Step 5: Purchase Cryptocurrency
Once you’ve identified the cryptocurrency you wish to trade, follow the platform’s procedures to complete the purchase. After successfully acquiring the digital assets, you should observe them in your wallet within the cryptocurrency exchange platform you’ve chosen.
Final Thoughts
Starting in May 2022, cryptocurrency holders in Brazil face capital gains taxes, impacting all investors involved in trades exceeding 35,000 BRL (approximately $7,100). Importantly, tax liabilities apply regardless of whether cryptocurrency assets were converted into Brazilian reals. For example, even swapping Bitcoin for Ethereum or Litecoin for Tether triggers tax obligations. The intricacies of Brazilian cryptocurrency tax regulations necessitate professional tax advice for investors.
In conclusion, Brazil’s cryptocurrency market offers a diverse array of options for traders and investors alike. Whether you’re interested in exploring a wide range of altcoins, engaging in high-leverage trading, or seeking a local platform with Portuguese support, these leading cryptocurrency exchanges in Brazil have your needs covered. It’s crucial to conduct comprehensive research and select the platform that aligns best with your trading preferences and requirements.
Overall, the best crypto exchange in Brazil is MEXC.
