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Best Crypto Exchanges in El Salvador 2024

Publisher

January 2, 2024
Best Crypto Exchanges in El Salvador 2023

Choosing the best crypto exchange is one of the most critical decisions for an active crypto trader in El Salvador. We recommend using the most reliable platform that makes trading simple and adheres to the Central Bank of El Salvador guidelines for crypto trading.

In this article, we will provide you with a list of the top five crypto exchanges in El Salvador and all the essential information you need to know about them, including supported cryptos, trading fees, security, and many more to help you make a well-informed decision. They include:

  1. MEXC – Best Crypto Exchange in El Salvador
  2. Kraken – Most Secure Exchange in El Salvador
  3. Bybit – Best Derivatives Exchange in El Salvador
  4. Binance – Largest Exchange in El Salvador
  5. OKX – Best Alternative Exchange in El Salvador

 

1. MEXC

MEXC was founded by John Chen in 2018, and its headquarters are in Singapore. The exchange has more than 10 million users across 170+ countries, including El Salvador, making it one of the fastest-growing crypto exchanges worldwide.

Additionally, MEXC is fully licensed and compliant with all the rules and regulations governing crypto trading in El Salvador. We recommend MEXC as the best crypto exchange in El Salvador as it offers the broadest range of supported cryptos and the lowest trading fees.

With over 1600 cryptocurrencies available for trading on MEXC, it is the perfect platform for traders and investors seeking to diversify their portfolios. They also offer the lowest trading fees and high leverage on both the spot and futures markets.

On the spot market, the charges are 0% for both makers and takers, while for futures trading, charges are 0% for makers and 0.03% for takers. With MEXC, you can also access leverage of up to 200x for maximizing profit on derivatives and perpetual contracts.

Another thing about MEXC is that the platform supports various fiat currencies, including USD, for traders in El Salvador to deposit and buy any of their desired cryptos securely at low fees. Payment methods include Visa/Mastercard, SEPA transfer, or through third-party payment providers, e.g., Simplex etc.

To learn more about MEXC, check out our full MEXC review.

Spot Fees: 0% maker/ 0% taker

Futures Fees: 0% maker/ 0.03% taker

Supported Cryptos: 1600+

Customer Support: 24/7 live chat

 

MEXC Pros and Cons

👍 MEXC Pros👎 MEXC Cons
✅ Lowest trading fees❌ Lacks passive income products
✅ High liquidity❌ Inferior copy trading
✅ 1600+ cryptos❌ Lacks fiat support
✅ Up to 200x leverage on derivatives and perpetual contracts
✅ Advanced trading tools

 

Visit MEXC!

 

2. Kraken

Kraken was founded by Jesse Powell in 2013, and its headquarters are in San Francisco, California. The platform currently has over 10 million users across over 190 countries worldwide, including El Salvador.

Additionally, Kraken is fully licensed for crypto trading. It obeys all the rules and regulations of the Central Bank of El Salvador, making it a reliable trading platform for traders and investors in El Salvador.

Users can access over 200 cryptos, including BTC, ETH, USDT, DOGE, and many more, for active trading. Kraken also offers low futures trading fees and advanced trading tools, including real-time charts, advanced order types, technical indicators, and more.

We recommend Kraken as the most secure crypto exchange in El Salvador as it implements a wide range of sophisticated security measures to ensure the safety of user assets. That is evident as the crypto exchange has never been compromised or hacked.

Kraken also provides full proof of reserves, which shows that company funds cover all user assets, so you can rest assured that you won’t lose any of your crypto assets on the platform.

The trading fees on the futures market are set at 0.02% for makers and 0.05% for takers. For spot trading, charges are 0.16% for makers and 0.26% for takers, which is relatively high. That makes Kraken more attractive for active futures traders and less suitable for spot traders.

Lastly, Kraken supports various fiat currencies, including the USD, so users in El Salvador can buy Bitcoin and other cryptos seamlessly on the platform. They also offer different payment methods, including credit/debit cards, SEPA transfers, SWIFT, ACH, etc.

To learn more about Kraken, check out our full Kraken review.

Spot Fees: 0.16% maker/ 0.26% taker

Futures Fees: 0.02% maker/ 0.05% taker

Supported Cryptos: 200+

Customer Support: 24/7 live chat

Licensed & Regulated: Regulated by Financial Conduct Authority (FCA), FINTRAC, AUSTRAC, and FSRA.

 

Kraken Pros and Cons

👍 Kraken Pros👎 Kraken Cons
✅ Low futures trading fees❌ High spot trading fees
✅ Advanced trading tools❌ Crypto staking is not available for U.S users
✅ Advanced security
✅ Wide variety of payment methods
✅ User-friendly trading interface

 

Visit Kraken!

 

3. Bybit

Bybit was founded by Ben Zhou in 2018, with its headquarters in Dubai. The platform has over 15 million users across over 160 countries, including El Salvador.

The exchange is fully licensed and compliant with all the Central Bank of El Salvador guidelines for crypto trading.

We recommend Bybit as the best derivatives trading platform in El Salvador as it offers a wide variety of cryptos with low trading fees. Users also have access to advanced trading tools and high leverage of up to 100x on derivatives and perpetual contracts.

Bybit supports over 400 cryptocurrencies for active trading, including BTC, ETH, USDT, USDC, and many more; the trading fees are set at 0.1% for both makers and takers on the spot market, while for futures trading, charges are 0.02% for makers and 0.055% for takers.

In addition to trading spots and futures, Bybit offers non-fungible tokens (NFTs) and demo trading. It also provides a variety of passive income products, including bot trading and copy trading, which allows users to earn extra income while trading on the platform.

Lastly, Bybit supports various fiat currencies, including the USD, to allow users in El Salvador to seamlessly deposit and buy cryptos on the platform at low fees. Payment methods include Visa/Mastercard, GooglePay, ApplePay, SEPA, etc.

To learn more about Bybit, check out our full Bybit review.

Spot Fees: 0.1% maker/ 0.1% taker

Futures Fees: 0.02% maker/ 0.055% taker

Supported Cryptos: 400+

Futures Contracts: 200+

Customer Support: 24/7 live chat

 

Bybit Pros and Cons

👍 Bybit Pros👎 Bybit Cons
✅ Low trading fees❌ Not beginner friendly
✅ 400+ cryptos❌ Fiat withdrawals only via P2P
✅ Copy trading
✅ Advanced trading tools
✅ High liquidity
✅ Full proof of reserves

 

Visit Bybit!

 

4. Binance

Binance was founded by Changpeng Zhao in 2017. The platform stands out as the largest cryptocurrency exchange in the world, with over 120 million users across 180 countries, including El Salvador.

Additionally, Binance is fully licensed and is compliant with all the rules and regulations required for crypto trading in El Salvador.

Binance offers various trading options, such as spot trading, margin trading, and futures, with access to over 350 cryptocurrencies at low fees. The exchange is very suitable for expert traders in El Salvador as it offers a wide variety of advanced trading tools, including advanced order types, technical indicators, and more, for them to practice their trading strategies.

Users can also access leverage of up to 125x on derivatives and perpetual contracts. The trading fees are set at 0.1% for both makers and takers on the spot market, while for futures trading, fees are 0.02% for makers and 0.04% for takers. Additionally, users enjoy up to 20% discount when they pay fees with the Binance token (BNB).

Lastly, Binance supports the USD for buying cryptos and offers a wide range of secure payment methods. That makes it a very reliable crypto exchange for buying cryptos in El Salvador.

To learn more about Binance, check out our full Binance review.

Spot Fees: 0.1% maker/ 0.1% taker

Futures Fees: 0.02% maker/ 0.04% taker

Futures Contracts: 260+

Supported Cryptos: 350+

Customer Support: 24/7 live chat

 

Binance Pros and Cons

👍 Binance Pros👎 Binance Cons
✅ Low spot and futures trading fees❌ Not beginner friendly
✅ Passive income products❌ Poor regulation
✅ High liquidity
✅ Full proof of reserves
✅ Advanced trading tools

 

Visit Binance!

 

5. OKX

OKX was founded in 2018 and currently has its headquarters located in Seychelles. The platform is one of the largest crypto exchanges, with over 50 million users across over 100 countries, including El Salvador.

Users have access to over 350 cryptos for active trading. OKX also offers one of the lowest trading fees in the crypto market. Trading fees are set at 0.08% for makers and 0.1% for takers on the spot market, while for futures trading, charges are 0.02% for makers and 0.055 for takers.

OKX also offers various passive income products, such as bot trading, copy trading, staking, etc., to help users make more money while trading. It also provides users with advanced trading tools such as real-time charts, technical indicators, etc.

Lastly, OKX is fully licensed and compliant with all the guidelines of the Central Bank of El Salvador for crypto trading. The platform also enables users to deposit USD and buy cryptos seamlessly at low fees with access to various payment methods.

If you want to learn more about OKX, check out our full OKX review.

Spot Fees: 0.08% maker/ 0.1% taker

Futures Fees: 0.02% maker/ 0.05% taker

Supported Cryptos: 350+

Customer Support: 24/7 live chat

 

OKX pros and Cons

👍 OKX Pros👎 OKX Cons
✅ Wide range of supported cryptos❌ Not beginner friendly
✅ High liquidity❌ No spot copy trading
✅ Advanced security
✅ Passive income products
✅ Advanced trading tools

 

Visit OKX!

 

Is Crypto Legal in El Salvador?

Yes, crypto trading is entirely legal in El Salvador. Cryptocurrency activities are continuously monitored and regulated by the Central Bank of El Salvador to create a safe environment for all crypto traders and investors in El Salvador.

 

How to Buy Cryptos in El Salvador

If you are looking to invest in crypto or trade as a beginner in El Salvador, follow the guidelines below

  1. Choose a crypto exchange supported in El Salvador from the top list above. Go through the platform’s features and ensure that it satisfies your needs.
  2. Create an account on the Platform.
  3. Complete the KYC verification process to access all the features and products of the platform.
  4. Deposit USD using any of the available payment methods. Then, use your funds to purchase cryptos on the exchange. Alternatively, you can buy cryptos using various methods like credit/debit cards.
  5. Once you’ve purchased your desired crypto, you can choose to trade or send it to a secure private wallet.

 

Final Thoughts

Traders and investors in El Salvador can now effectively make a well-informed decision on the proper crypto exchange for their needs. We recommend MEXC as the best exchange for users in El Salvador as it offers the most cryptos and the lowest trading fees.

For a wide range of supported cryptos, MEXC, Bybit, Binance, and OKX are reliable platforms you can make use of.

MEXC and OKX stand out as the best options for users in El Salvador for low trading fees.

For advanced derivatives trading, MEXC, Bybit, and Binance are the best options for you. However, Bybit stands out as the best derivative exchange in El Salvador.

If you want to learn more about these platforms before signing up, check out our total reviews, as they offer full coverage of all the platforms’ features.

 

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