If you’re based in Panama and planning to trade or invest in crypto, choosing the right platform isn’t just about convenience, it’s about access, security, and transparency. With the country operating on the U.S. dollar and growing interest in digital assets, many users now look for crypto exchanges Panama residents can trust for stable liquidity, fair fees, and reliable support.

Before opening an account, it’s important to check whether the platform aligns with local compliance standards, offers proof-of-reserves, supports USD funding routes, and allows flexible withdrawals. Preference should also be given to cryptocurrency exchanges licensed by Panama’s Ministry of Commerce and Industry to operate within the jurisdiction.

 

Best Crypto Exchanges in Panama Reviewed

Below, we’ve evaluated the most suitable platforms for Panamanian users based on user experience, security, and trading costs.

 

1. BloFin

BloFin ranks at the top for traders in Panama who want deep liquidity, low fees, and wide asset access without going through KYC. The exchange supports over 564+ cryptocurrencies for spot trading and 440+ perpetual contracts, giving professionals and altcoin seekers plenty of options. Leverage goes up to 150x, which suits high-risk traders, while fees stay low at 0.02% maker / 0.06% taker on futures.

Founded in 2019 and based in the Cayman Islands, BloFin serves more than 2 million users. Spot trades are charged at 0.10% maker/taker, which aligns with the industry average. On the security front, BloFin uses Fireblocks for cold wallet coverage, integrates Chainalysis for risk monitoring, and includes third-party insurance.

The exchange does not require KYC for basic trading. Users can withdraw up to $20,000 daily without submitting any identity documents. For higher tiers, limits extend to $2 million with Level 2 KYC. Panama-based traders can deposit through crypto, Alchemy Pay, Simplex, Unlimit, Google Pay, Apple Pay, and SEPA, though withdrawals remain crypto-only.

Customer support is available 24/7 via live chat and email, with a strong response rating of 9/10. While BloFin lacks a native token, it offers an affiliate commission of 40% and provides tools like signal bots, grid bots, and TWAP bots for automated trading.

To learn more about the exchange, you can read our full BloFin review.

What we like about BloFin:

• Supported Cryptocurrencies: 564+
• Futures Contracts: 440+
• Max Leverage: 150x
• Spot Trading Fees: 0.10% maker / 0.10% taker
• Futures Trading Fees: 0.02% maker / 0.06% taker
• KYC: No KYC required
• Deposits: Crypto, Alchemy Pay, Simplex, Unlimit, Credit/Debit Card, Apple Pay, Google Pay, SEPA

 

BloFin Pros and Cons

👍 BloFin Pros	👎 BloFin Cons
✅ No-KYC exchange with global access (incl. US, UK, Canada)	❌ Relatively new
✅ Supports 564+ spot cryptocurrencies and 440+ futures contracts	❌ Fiat withdrawals are not supported
✅ Up to 150x leverage on futures	❌ Liquidity depth is moderate
✅ Bot trading supported
✅ Full Proof of Reserves
✅ Customer support is available 24/7 via live chat and email

 

Visit BloFin!

 

2. Bybit

Bybit remains one of the most liquid and advanced crypto trading platforms available to users in Panama. The exchange supports 726+ cryptocurrencies for spot trading and 578+ perpetual contracts, giving traders a wide asset selection paired with deep liquidity. With a daily futures volume of over $15.25 billion, it meets the needs of high-frequency and institutional-level traders.

Headquartered in Dubai, Bybit now serves 30 million+ users globally. It continues to expand across Latin America, including Panama, with a focus on education, blockchain integration, and local partnerships. This regional push may make it easier for Panamanian users to access new features and fiat onramps over time.

Bybit requires KYC before trading. After completing identity verification, users can withdraw up to $1 million per day (Level 1) and up to $2 million with Level 2 KYC. The platform offers leverage up to 100x on futures, and charges 0.02% maker / 0.055% taker in futures trading fees. Spot trading fees remain flat at 0.10%.

Panamanian traders have access to several deposit methods including crypto, SEPA, credit/debit cards, Apple Pay, Google Pay, and services like MoonPay, BTCDirect, and Banxa. Withdrawals are supported via crypto, Zen.com, and FPS.

Bybit also supports copy trading, along with advanced trading bots including grid, DCA, martingale, and combo bots. Support is available 24/7 through live chat and email, with a high service quality rating of 10/10.

To learn more about the exchange, you can read our full Bybit review.

What we like about Bybit:

• Supported Cryptocurrencies: 726+
• Futures Contracts: 578+
• Max Leverage: 100x
• Spot Trading Fees: 0.10% maker / 0.10% taker
• Futures Trading Fees: 0.02% maker / 0.055% taker
• KYC: KYC required
• Deposits: Crypto, Credit/Debit Card, Apple Pay, Google Pay, SEPA

 

Bybit Pros and Cons

👍 Bybit Pros	👎 Bybit Cons
✅ MiCAR-compliant platform	❌ KYC is mandatory
✅ SEPA support for EUR deposits	❌ Not available in the US, UK, and other major countries
✅ Tier-1 liquidity and deep futures markets
✅ Supports copy trading, demo mode, and multiple bots (Grid, DCA, Martingale, etc.)
✅ Fiat onramps via cards, MoonPay, BTCDirect, and more

 

Visit Bybit!

 

3. Bitunix

Bitunix offers one of the most straightforward no-KYC experiences in Panama, allowing verified users to withdraw up to $500,000 daily without submitting documents. It supports 541 cryptocurrencies for spot trading and 400+ futures contracts, with leverage going up to 125x. Despite being a relatively new platform (launched in 2022), Bitunix processes over $6.4 billion in daily futures volume, indicating growing liquidity.

Headquartered in Dubai, the exchange serves over 1 million users worldwide. It charges 0.10% maker/taker on spot trades and 0.02% maker / 0.06% taker on futures, aligned with competitors like BloFin and Bybit.

Bitunix continues to add tools aimed at mobile-first traders. The K‑Line Ultra mobile app, launched earlier this year, includes full TradingView chart integration. In parallel, the platform introduced a flexible “Earn” feature for USDT, ETH, and other major coins, with daily interest payouts.

Deposits can be made through crypto, Volet, Apple Pay, credit/debit cards, and bank transfers, while withdrawals are crypto-only. Copy trading and a “Buy Low Sell High” strategy bot are also available. While the platform lacks staking, options, or P2P features, it does include demo trading for beginners.

Customer support is available 24/7 through live chat and email, though current service quality is rated 7/10.

To learn more about the exchange, you can read our full Bitunix review.

What we like about Bitunix:

• Supported Cryptocurrencies: 541
• Futures Contracts: 400+
• Max Leverage: 125x
• Spot Trading Fees: 0.10% maker / 0.10% taker
• Futures Trading Fees: 0.02% maker / 0.06% taker
• KYC: No KYC required
• Deposits: Crypto, Bank Transfer, Apple Pay, Credit/Debit Card, Volet

 

Bitunix Pros and Cons

👍 Pros	👎 Cons
✅ No-KYC with $500K daily withdrawal limit	❌ Not regulated by major authorities
✅ Up to 125x leverage	❌ Smaller user base than top exchanges
✅ User friendly	❌ Not available in China
✅ Easy fiat deposits (card, bank, Apple Pay)
✅ High liquidity ($6.4B+ daily volume)

 

Visit Bitunix!

 

4. Binance

Binance is one of the most active global platforms for crypto traders, and users in Panama have access to nearly the full suite of services. With over 508 cryptocurrencies for spot trading and 520 futures contracts, the exchange remains unmatched in asset depth and trading volume, averaging $10.08 billion daily on spot and $35.72 billion on futures.

The platform offers leverage up to 125x, charges 0.10% maker/taker on spot, and 0.02% maker / 0.05% taker on futures. In addition to traditional crypto trading, Binance now provides access to tokenized real-world assets (RWAs) such as real estate, art, and commodities, enabling Panamanian users to explore alternative investments from a single account.

Founded in 2017, Binance is licensed as a VASP and MSB, and regulated by entities including Dubai’s VARA and FinCEN. The platform currently supports over 213 million users, and while it’s restricted in the U.S., Canada, and parts of Europe, it remains available in Panama.

Deposits and withdrawals are supported via crypto, SEPA, bank transfer, P2P, Google Pay, Apple Pay, and major cards. Binance also supports staking, copy trading, as well as trading bots like grid, arbitrage, and rebalancing.

KYC is required for all accounts. Verified users can withdraw up to $8 million daily. Support is available 24/7 via chat or email, with a top-tier reliability rating of 10/10.

To learn more about the exchange, you can read our full Binance review.

What we like about Binance:

• Supported Cryptocurrencies: 508+
• Futures Contracts: 520+
• Max Leverage: 125x
• Spot Trading Fees: 0.10% maker / 0.10% taker
• Futures Trading Fees: 0.02% maker / 0.05% taker
• KYC: KYC required
• Deposits: Crypto, SEPA, Bank Transfer, P2P, Apple Pay, Google Pay
• Withdrawals: Crypto, SEPA, Bank Transfer, Zen.com

 

Binance Pros and Cons

👍 Binance Pros	👎 Binance Cons
✅ Most comprehensive crypto platform	❌ Not very user-friendly
✅ Largest trading volumes globally (spot and futures)	❌ Slow during high volatility phases
✅ 24/7 live chat support	❌ Regulatory issues in some EU countries
✅ Best passive income products	❌ Not available in US
✅ Cheap Euro deposits

 

Visit Binance!

5. Coinbase

Coinbase is one of the oldest regulated crypto exchanges available to Panamanian users, best suited for beginners and passive investors. It supports 297+ cryptocurrencies for spot trading and 164+ perpetual contracts, but lacks advanced trading features like copy trading, P2P, or margin tools.

The platform applies 0.40% maker / 0.60% taker fees on spot trades, significantly higher than other exchanges in this list. Futures trading is slightly more balanced at 0.05% maker/taker. Leverage is limited to 10x, and demo trading is not available.

Coinbase is fully KYC-required. Without identity verification, you cannot use the platform. Once verified, users can withdraw up to $100,000 daily at Level 1 and up to $200,000 with Level 2. Deposits can be made using crypto, credit/debit cards, and selected fiat pairs like USD, EUR, and GBP. Withdrawals are limited to crypto.

The exchange is based in San Francisco and is regulated in multiple jurisdictions. It supports more than 108 million users globally. While customer support is available only via email, Coinbase is still regarded for its strong security and simplicity. However, it lacks competitive trading tools, and the high fee structure makes it less attractive for active traders.

To learn more about the exchange, you can read our full Coinbase review.

What we like about Coinbase:

• Supported Cryptocurrencies: 297+
• Futures Contracts: 164+
• Leverage: 10x
• Spot Trading Fees: 0.40% maker / 0.60% taker
• Futures Trading Fees: 0.05% maker / 0.05% taker
• KYC: KYC required
• Deposits: Crypto, Credit/Debit Card, USD, EUR, GBP

 

Coinbase Pros & Cons

👍 Coinbase Pros	👎 Coinbase Cons
✅ Reputable exchange	❌ High trading fees
✅ Very secure crypto trading platform	❌ No Futures
✅ Very beginner-friendly	❌ Lacks advanced trading features
✅ Highly regulated	❌ No live chat support
✅ Euro deposits supported

 

Visit Coinbase!

 

6. Kraken

Kraken remains a dependable platform for users in Panama seeking a regulated, U.S.-based exchange with fiat on-ramps. Founded in 2011, it supports 516 cryptocurrencies for spot trading and 348 futures contracts, offering decent depth for long-term investors and conservative traders.

The exchange charges 0.16% maker / 0.26% taker on spot and 0.02% maker / 0.05% taker on futures. Leverage is capped at 50x, lower than many other global platforms.  Kraken is currently expanding its presence across Latin America, although Panama hasn’t been directly onboarded with localized tools yet. Still, users in Panama can fund their accounts using crypto, credit/debit cards, and selected fiat currencies like USD, EUR, and GBP. Withdrawals are limited to crypto.

KYC is mandatory. Verified users can withdraw up to $500,000 daily with Level 1, and $10 million after completing Level 2 verification. Kraken does offer staking and demo trading, but the overall interface may be too complex for beginners. The exchange currently has over 9 million users and is based in San Francisco.

To learn more about the exchange, you can read our full Kraken review.

What we like about Kraken

• Supported Cryptocurrencies: 516+
• Futures Contracts: 348+
• Max Leverage: 50x
• Spot Trading Fees: 0.16% maker / 0.26% taker
• Futures Trading Fees: 0.02% maker / 0.05% taker
• KYC: KYC required
• Deposits: Crypto, Credit/Debit Card, USD, EUR, GBP

 

Kraken Pros & Cons

👍 Kraken Pros	👎 Kraken Cons
✅ FCA-registered and operational since 2011	❌ Futures leverage capped at 50x
✅ Strong security record and proof-of-reserves transparency	❌ No copy trading or advanced automation tools
✅ Offers staking, margin trading, and educational tools
✅ GBP deposits and withdrawals via Faster Payments

 

Visit Kraken!

 

7. BTCC

BTCC is one of the longest-running crypto exchanges, active since 2011, and known for its high-leverage derivatives offering. The exchange supports 400 cryptocurrencies for spot trading and 314 futures contracts, giving users in Panama access to both standard and leveraged markets. Futures volume exceeds $12.34 billion daily, reflecting strong demand among margin traders.

One of BTCC’s key strengths is its high leverage ceiling of up to 500x. While this appeals to aggressive traders, it carries significant risk. Futures fees are relatively low; 0.02% maker / 0.045% taker, though spot trading fees are less competitive at 0.20% / 0.30%.

BTCC recently reported a 135% reserve ratio, well above the industry standard of 100%, signaling strong asset coverage even during volatile market periods. This could help build confidence among Panama-based users looking for no-KYC platforms with financial transparency.

KYC is not required for basic use. Users can withdraw up to $10,000 daily without verification. Higher limits go up to $1 million with Level 2 KYC. Deposits can be made using crypto, credit/debit cards, and bank transfers. Withdrawals are crypto-only.

The platform also supports copy trading, forex, commodities, and demo accounts, but lacks staking, options, or fiat currency support. BTCC is headquartered in London, with most operational activity handled out of Asia.

To learn more about the exchange, you can read our full BTCC review.

What we like about BTCC:

• Supported Cryptocurrencies: 400+
• Futures Contracts: 314+
• Max Leverage: 500x
• Spot Trading Fees: 0.20% maker / 0.30% taker
• Futures Trading Fees: 0.02% maker / 0.045% taker
• KYC: No KYC required
• Deposits: Crypto, Credit/Debit Card, Bank Transfer

 

BTCC Pros and Cons

👍 BTCC Pros	👎 BTCC Cons
✅ High leverage up to 500x on futures	❌ High spot trading fees
✅ No KYC required for withdrawals up to $10,000/day	❌ No fiat withdrawal support, crypto only
✅ Supports copy trading and demo accounts
✅ Offers forex and commodity trading options
✅ Strong proof-of-reserves ratios (135% in June 2025)

 

Visit BTCC!

 

How to Purchase Cryptocurrencies in Panama

If you want to purchase cryptocurrencies in Panama but are unsure where to start, follow the steps below:

• Select a cryptocurrency exchange licensed in Panama from the list provided above.
• Create an account on the platform.
• Complete the KYC verification process if required. Some exchanges listed do not require verification.
• Deposit funds (Panama Balboa or USD) using your preferred payment method.
• Use the “Buy” option on the platform to select and purchase your chosen cryptocurrency.
• The purchased coins will appear in your wallet once the transaction is complete.
• Track the performance of your assets in your portfolio and explore other coins that may offer better returns.

 

Bottom Line

Crypto adoption in Panama is steadily gaining ground, but choosing the right exchange still makes all the difference. Whether you’re trading daily, holding long-term, or simply exploring the space, the platforms covered here give you the flexibility, security, and access you need, without unnecessary risk. Always check for transparency, clear withdrawal policies, and the tools that match your goals.

 

FAQs

1. What’s the best exchange to trade crypto in Panama?

For spot trading, Binance offers high liquidity, multiple fiat options, and broad coin support. If you’re interested in derivatives, Bybit is a strong choice with deep futures markets and advanced tools.

 

2. What’s the best crypto exchange for beginners in Panama?

Coinbase is widely considered the easiest platform for beginners due to its simple interface, fiat deposit options, and regulated framework.

 

3. Is cryptocurrency allowed in Panama?

Yes, cryptocurrency trading is allowed in Panama. While crypto is not legal tender, individuals can buy, sell, and hold digital assets without restriction.

 

4. Do I need to complete KYC to use crypto exchanges in Panama?

It depends on the platform. Exchanges like Bitunix and BTCC allow trading without KYC for basic use, while others like Binance and Kraken require verification for full access and higher withdrawal limits.

 

5. Can I deposit Panama Balboa (PAB) on crypto exchanges?

Since Panama uses the U.S. dollar alongside the Balboa, most exchanges accept USD deposits, which are equivalent in value. Local bank transfers or international cards can be used to fund accounts in USD.