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Best Crypto Exchanges in Mexico 2024

Publisher

January 2, 2024
Best Crypto Exchanges in Mexico 2023

In Mexico, investing in Bitcoin and other cryptocurrencies entails selecting a platform that complies with the regulations of the CNBV (Comisión Nacional Bancaria y de Valores). These platforms offer secure transactions and support various deposit methods, such as SPEI transfers, local bank deposits, and credit and debit cards, providing convenience for Mexican investors. Our review takes into account key aspects such as compliance with CNBV regulations, the range of available cryptocurrencies, the quality of the user interface, options for depositing Mexican pesos, and fee structures. For a comprehensive overview, check out the following list of the top five cryptocurrency platforms in Mexico.

 

Assessing the Top 7 Cryptocurrency Exchanges in Mexico

Evaluating various cryptocurrency exchanges to compile a list of the top 7 platforms accessible in Mexico. Continue reading to explore crucial details about the best cryptocurrency exchanges for Mexican traders.

Discover the top crypto exchanges in Mexico:

  1. BitgetLow fees, Diverse assets, Copy trading.
  2. MEXCNo KYC, Extensive Altcoin Selection, Lowest fees.
  3. Phemex No KYC, Semi centralized with DAO, On-chain proof of funds.
  4. BinanceExtensive assets, Advanced features, High liquidity.
  5. OKXRobust security measures, KYC requirements, wide array of cryptocurrencies.
  6. BybitLow fees, 100x leverage, 600+ tokens.
  7. KrakenTransparency and security, 24/7 platform surveillance.

 

1. Bitget

BitGet stands out as a comprehensive cryptocurrency exchange in Mexico. With operations licensed globally, Bitget prioritizes full KYC verification to adhere to AML regulations, providing a user-friendly platform suitable for traders of all experience levels.

The exchange emphasizes user security, boasting a substantial $400 million security fund and transparently sharing proof of reserves. Offering a wide selection of over 500 digital assets, advanced trading features, and competitive fees, Bitget caters to both active traders and beginners in Mexico.

If you want to learn more about the platform, you can read our full BitGet review.

Spot Fees: 0.1% maker / 0.1% taker

Futures Fees: 0.02% maker / 0.06% taker

Supported Cryptos: 500+

Payments: Bank Transfer + Crypto purchases via Credit/Debit card, Google Pay, Apple Pay, and more

Customer Support: 24/7 live chat support

 

Bitget Pros and Cons

👍 Bitget Pros👎 Bitget Cons
✅ Low trading fees❌ Highly advanced for beginners
✅ User-friendly interface❌ Not available in the United States
✅ Passive income products❌ No HUF payments
✅ Over 500 cryptocurrencies
✅ Copy Trading
✅ Full Proof of reserves

 

Visit Bitget!

 

2. MEXC

MEXC positions itself as an incredibly versatile cryptocurrency platform catering to the Mexican market, granting users access to a diverse array of digital assets. Distinguishing itself through its highly competitive trading fees and an extensive selection of over 1600 supported cryptocurrencies, MEXC stands out as the preferred option for those enthusiastic about exploring the vast world of alternative coins.

A distinctive characteristic of MEXC is its exclusive reliance on US dollars for coin acquisition, with no provision for fiat exchange or withdrawals. This approach prompts traders to explore P2P networks for cashing out, adding an element of flexibility.

To offset this limitation, MEXC offers a comprehensive range of services, including margin trading, EFT indices, and a futures market, ensuring a rich and varied trading experience. Going beyond conventional offerings, the exchange supports various fan tokens and frequently organizes dynamic sports betting campaigns, injecting an additional layer of excitement for its user base. With an impressive user count nearing 7 million from 200 different countries and a substantial trading volume of 2.7 billion, MEXC solidifies its position as one of the most favored exchanges in Mexico.

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+

Payments: Bank transfer, P2P

Customer Support: Multi-language customer support 24/7

 

MEXC Pros and Cons

👍 MEXC Pros👎 MEXC Cons
✅ 1700+ Cryptos❌ No NFT Market
✅ Copy Trading❌ Lacks passive income products
✅ Up to 200x Leverage❌ No Fiat Deposits/Withdrawals
✅ Very User Friendly

 

Visit MEXC!

 

3. Phemex

Phemex, a leading cryptocurrency exchange operating in Mexico, stands out for its quick and efficient crypto transactions, supporting various payment methods and processing transactions at an impressive speed of 300,000 per second. Noteworthy is the platform’s non-KYC option, allowing users to deposit, withdraw, and trade without verification, making it appealing for both privacy-conscious and verified users.

The user-friendly interface caters to beginners, while detailed charts powered by TradingView enhance the experience for expert traders. Phemex’s support for crypto staking adds another dimension, providing opportunities for passive income with competitive Annual Percentage Yields (APYs) of up to 19.0%. Whether you’re looking for swift transactions, a user-friendly interface, or staking opportunities, Phemex offers a comprehensive solution for crypto enthusiasts in Mexico.

If you want to learn more about the platform, you can read our full Phemex review.

Spot Fees: 0.1% maker/taker

Futures Fees: 0.01% maker and 0.06% taker

Supported Cryptos: 360+

Payments: P2P Mainly (Supports PayPal, Apple Pay, Google Pay, Skrill and more)

Customer Support: 24/7 live chat support

 

Phemex Pros and Cons

👍 Phemex Pros👎 Phemex Cons
✅ Wide Crypto Coins Range❌ Lacks Fiat & Options Trading
✅ No KYC Required❌ Limited OTC Trading
✅ Copy Trading
✅ Great Mobile Application

 

Visit Phemex!

 

4. Binance

Binance, a global cryptocurrency powerhouse, serves over 120 million registered users worldwide, making it a prominent exchange. The platform provides an extensive array of over 1000 trading pairs, covering spot, margin, futures, and options trading.

Binance charges variable deposit fees depending on the method used, and withdrawals are typically free. The spot trading fee is set at a competitive 0.1%, with attractive maker and taker rebates of 0.02% and 0.04%, respectively, available for derivative trading.

Ensures 24/7 customer support through live chat, email, and an online ticketing system, providing users with assistance whenever needed.

For users in Mexico, convenient deposit options are available, including credit/debit cards, bank transfers, and more.

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+

Payments: Multiple deposit methods, including credit/debit cards, bank transfers and more

Customer Support: 24/7 live chat support

 

Binance Pros and Cons

👍 Binance Pros👎 Binance Cons
✅ Extensive selection of trading pairs❌ Limited futures fees information
✅ Competitive trading fees
✅ Regulatory oversight by CySEC
✅ 24/7 customer support
✅ Diverse deposit methods

 

Visit Binance!

 

5. OKX

OKX, a prominent cryptocurrency exchange with a vast user base exceeding 10 million individuals, stands out as a leader, especially in Europe. The platform also extends its services to the cryptocurrency community in Mexico, providing a diverse range of digital assets for various activities such as buying, selling, trading, and staking. With competitive fees and narrow spreads, OKX enhances its overall appeal.

Users in Mexico particularly benefit from attractive stablecoin rates, offering the opportunity for up to a 5% annual percentage yield (APY) and providing a unique avenue for increased earnings within the country. Noteworthy is OKX’s strategic partnerships, including sponsorships with renowned sports teams like Manchester City and McLaren Formula 1, solidifying its standing as a reputable and well-recognized entity in the cryptocurrency industry. This positions OKX as one of the top cryptocurrency platforms in Mexico, underscoring its credibility and popularity.

If you want to learn more about the platform, you can read our full OKX review.

Spot Fees: Flat 0.1% fee for instant spot trading

Futures Fees: 0.02% for makers and 0.05% for takers

Supported Cryptos: 300+

Payments: Bank Transfers Mainly, credit card

Customer Support: 24/7 help center and Mail

 

OKX Pros and Cons

👍 OKX Pros👎 OKX Cons
✅ Wide Cryptocurrency Range❌ KYC Needed
✅ Robust Security❌ Variable Regulatory Compliance
✅ High Liquidity
✅ OKX provides advanced trading features

 

Visit OKX!

 

6. Bybit

Bybit, a significant player in Mexico’s cryptocurrency landscape, provides a variety of deposit methods in MXN for activities such as buying, selling, holding, and trading a portfolio of 770+ digital assets. Operating globally and supporting multiple languages, Bybit is acknowledged for its comprehensive cryptocurrency services, enabling users in Mexico to diversify their investment portfolios.

Key features of Bybit include its user-friendly interface, robust security measures, and substantial liquidity. The platform stands out with advanced trading functionalities, including futures and leverage trading, offering opportunities for investors to optimize profits. Bybit’s commitment to customer support, available 24/7 through live chat and educational resources, reinforces its position as a leading exchange. Transparency is a priority, demonstrated by the public sharing of proof of reserves, ensuring a 1:1 backing of user funds. Additionally, Bybit maintains a significant $400 million security fund, enhancing protection against potential third-party attacks.

With a diverse selection of over 500 digital assets, advanced trading tools, competitive fees, and high leverage options (up to 125x), Bybit caters to both novice and experienced traders in Mexico. Its user-friendly interface accommodates users across various levels of trading expertise, and a remarkable trading volume of nearly 6.5 billion solidifies Bybit’s position as a formidable player in the global cryptocurrency exchange landscape.

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+

Payments: P2P mainly, credit card

Customer Support: 24/7 live chat support

 

Bybit Pros and Cons

👍 Bybit Pros👎 Bybit Cons
✅ Low trading fees❌ Highly advanced for beginners
✅ Many options to fund the account❌ Fiat withdrawals only via P2P
✅ User-friendly interface
✅ Passive income products
✅ Over 400 cryptocurrencies
✅ Copy Trading
✅ Full Proof of reserves

 

Visit Bybit!

 

7. Kraken

In Mexico, Kraken stands out as a leading cryptocurrency exchange, serving a diverse user base exceeding 10 million individuals. Renowned for its commitment to transparency and security, Kraken implements robust security protocols and provides audited proof of reserves. The platform caters to a broad range of cryptocurrency traders, offering competitive pricing and versatile features. While its interface complexity may pose a learning curve for beginners, Kraken’s focus on transparency and security instills confidence among its users in Mexico.

If you want to learn more about the platform, you can read our full Kraken review.

Spot Fees: 0.16% maker, 0.26% taker

Futures Fees: 0.02% maker, 0.05% taker

Supported Cryptos: 190+

Payments: apple or google pay, Wire transfer, credit card

Customer Support: 24/7 Support

 

Kraken Pros and Cons

👍 Kraken Pros👎 Kraken Cons
✅ User-friendly interface❌ Slow account funding process
✅ Offers advanced trading features❌ Costly hacks with limited support
✅ Low fees for advanced traders❌ Higher transaction fees on the main platform compared to Kraken Pro

 

Visit Kraken!

 

Is Crypto Legal in Mexico?

Investing in cryptocurrencies is permitted in Mexico under its Fintech Law, established in 2018. The law was one of the world’s first legislative frameworks specifically addressing virtual assets and designated the Bank of Mexico (Banxico) as the regulatory authority. It outlined a broad concept called “virtual assets,” defined as digital representations of value, excluding conventional and foreign currencies. This law mandates exchanges to adhere to specific standards, including Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures, ensuring a secure and transparent trading environment.

If you’re considering delving into cryptocurrency investments in Mexico, always choose platforms that adhere to these regulations. This will help safeguard your investments and provide a more reliable trading experience. Compliance with these rules signals the exchange’s commitment to maintaining market integrity and protecting investors.

 

How to Buy Crypto in Mexico

If you wish to invest in Bitcoin or other cryptocurrencies in Mexico, the process is akin to purchasing cryptocurrencies elsewhere in the world. Here’s a step-by-step guide tailored to Mexico to ensure your transaction is secure and complies with regulations:

  1. Select a reputable platform: Choose established exchanges that comply with Mexico’s Fintech Law and are recognized for robust security measures and reliable customer service.
  2. Register and verify: Create an account using your email and generate a strong password. Complete the required Know Your Customer (KYC) checks, usually involving providing a valid identification document and proof of residence.
  3. Deposit funds into your account: Add funds to your exchange account using various options like bank transfers or debit/credit cards. The Fintech Law helps ensure these transactions are secure and transparent.
  4. Purchase Cryptocurrency: Choose the crypto asset you’re interested in, specify how much you want to buy, either in Mexican Pesos (MXN) or the selected cryptocurrency, and approve the transaction.
  5. Protect your assets: For added security, transfer your newly acquired cryptocurrencies to a secure and private crypto wallet.

 

By following this guide and opting for a platform compliant with Mexican regulations, you’ll be on your way to a safe and transparent cryptocurrency investment experience.

 

Final Thoughts

In summary, cryptocurrency investment in Mexico is regulated under the FinTech Law, emphasizing transparency and security. Bitget emerges as the optimal exchange, offering a user-friendly interface, robust security measures, and a diverse selection of over 500 digital assets. Its commitment to transparency, including proof of reserves, enhances user confidence. Navigating the crypto market in Mexico with Bitget ensures a secure and confident investment experience, aligning with local regulations and providing a versatile platform for Mexican investors.

 

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