Cryptocurrency, especially Bitcoin, has gained popularity in several countries across the globe. The South American country of Bolivia too has not remained untouched by the crypto phenomenon. There are many cryptocurrency exchanges operating in Bolivia that offer a variety of services to users.
However, as cryptocurrency is prohibited in the country, there are no consumer protection measures in place for crypto traders. Hence, crypto traders in Bolivia should always be cautious while trading cryptocurrency. To help you learn more, we bring to you this list of the best crypto exchanges in Bolivia.
Do remember that this article is only for informational purposes and should not be treated as a substitute for proper financial advice from a qualified professional.
7 Top Cryptocurrency Exchanges in Bolivia
Kraken
Another major cryptocurrency exchange operating in Turkey is Kraken. It is a highly liquid exchange with 200+ cryptocurrencies available for buying, selling and trading. In addition, Kraken lets you set target prices at which your trades are automatically executed. You can also enable recurring buys here to build up your long-term portfolio.
You can use both fiat and crypto to fund your Kraken account. It is very easy to buy cryptocurrency here with a debit or credit card and bank transfers in certain places. Margin traders can get up to 5x leverage on Kraken. Crypto futures too can get returns with up to 50x leverage.
Kraken has ISO 27001 certification and it also conducts Proof-of-Reserve audits periodically the results of which can be viewed on the exchange’s website. It uses advanced cold storage for user funds and runs a bug bounty program where people are rewarded for reporting security vulnerabilities.
Features
✔️More than 200 cryptocurrencies for trading
✔️Has Basic and Pro versions
✔️Enables futures, spot and margin trades
✔️Conducts Proof-of-Reserve audits
Pros and Cons
✅Awesome crypto selection ❌Fees are higher on Kraken Instant Buy
✅Kraken Pro is less costly ❌Reports of accounts being hacked
✅Automated recurring buys
✅Personalized OTC services
Trading Fees
Fees for Kraken Instant Buy
Fees for Kraken Pro
Customer Reviews
Withdrawing funds is easy on Kraken
ID verification can take time on Kraken
Why We Picked It
Several crypto trading types are supported on Kraken and you can also set up automated recurring buys here. In addition to that, you can invest in crypto indices, check out OTC services and stake your assets to earn interest on Kraken. It runs a bug bounty program to encourage people to find and report potential security vulnerabilities on the platform.
OKX
The OKX cryptocurrency exchange has plenty on offer for different types of crypto traders. Beginners can directly buy cryptocurrency with fiat money and indulge in spot trading. For traders with a little more experience, OKX offers margin, options and futures trading.
Further, crypto-to-crypto conversions are very easy and free on OKX with zero slippage. You can also check out the copy trading feature if you want to trade like a pro. There are also trading bots available on OKX that can automatically execute trades on your behalf.
On OKX, you can invest in many types of simple and structured products which will help you in growing your crypto assets. Cryptocurrency loans are also available here and you can get access to new and interesting crypto projects with the Jumpstart Mining initiative.
Features
✔️400+ cryptocurrencies available for trading
✔️OKX Chain is the native blockchain
✔️Multiple networks supported by OKX wallet
✔️Spot, margin and options trading available
Pros and Cons
✅Low trading fees ❌Customer support is not good
✅Several payment options ❌Fee structure is complicated
available
✅Great educational resources
✅Crypto loans available
Trading Fees
OKX cryptocurrency exchange fees
Customer Reviews
OKX is a crypto exchange that is easy to navigate
OKX’s customer service is bad
Why We Picked It
You can conduct any type of trade on OKX and are charged very low fees for the same. You get opportunities to grow your crypto holdings on OKX with its variety of flexible and bonded products. Crypto lending is also supported here and you get to check out new projects with the Jumpstart Mining initiative.
Bybit
Bybit is a good cryptocurrency exchange suitable particularly for traders who want something more than regular crypto trading on a platform. For regular traders, Bybit offers spot and margin trading. Along with that, derivatives trading is also supported here. Crypto-to-crypto conversions are free on Bybit and have zero slippage.
Trading bots enable you to automate your trades and the Bybit Launchpad gives you early access to new tokens. You can also receive personalized recommendations for investment tools based on an AI-based technical analysis of your profile. There is an NFT marketplace too for you to explore and a Bybit wallet where you can store your crypto and NFTs.
Bybit uses data encryption technologies, trusted execution environment(TEE) and threshold signature schemes(TSS) to maintain platform security.
Features
✔️Platform for derivatives trading
✔️280+ spot trading pairs available
✔️Biggest USDC Options marketplace
✔️Employs encryption technologies, TEE and TSS for security
Pros and Cons
✅User-friendly platform ❌Not very good for spot trading
✅Low trading fees ❌Trade statistics are unverified
✅Multiple order types supported
✅Demo trading feature
Trading Fees
Trading fees levels for Bybit cryptocurrency exchange
Customer Reviews
Bybit has an excellent user interface
Users allege price manipulation on Bybit
Why We Picked It
Bybit is a great platform for derivatives trading but also supports other popular trading types. Both the website and mobile app have excellent UI and work very well. Further, Bybit is known for its fast transaction settlement speeds. The exchange also implements all relevant security measures such as data encryption.
KuCoin
While KuCoin is mainly known for its massive crypto collection, it has much more to offer to users. The regular spot and margin trading options are available on KuCoin at very low fees. Along with that, it also supports derivatives trading as well as cryptocurrency lending.
With KuCoin Earn, you get some good opportunities to invest in various types of products and increase the value of your crypto holdings. You can also buy, sell, swap or simply explore several NFT collections in KuCoin’s NFT marketplace. Plus, you can get up to 20% commission if you invite your friends to the platform.
Further, asset security on KuCoin is ensured with multisig technology. It also encrypts data during transit, storage and while the data is being used. Accounts are also monitored for suspicious activity and instant alerts are sent out to users in case such activity is detected.
Features
✔️Over 700 available cryptocurrencies
✔️Exchange supports many languages
✔️KuCoin token(KCS) is the native coin
✔️Employs encryption technology for security
Pros and Cons
✅Huge coin collection ❌Fees calculation is difficult
✅Fees are towards the lower end ❌No proper vetting of coins
✅Runs a referral program
✅NFT marketplace available
Trading Fees
KuCoin cryptocurrency exchange fee levels
Customer Reviews
There are lots of cryptocurrencies to explore on KuCoin
KuCoin’s customer service needs improvements
Why We Picked It
KuCoin is a great platform if you have the ability to sift through hundreds of cryptocurrencies to find something worthwhile. Not just that, you can use KuCoin Earn to earn interest and grow your crypto holdings. KuCoin also has an NFT marketplace with interesting collections.
eToro
eToro is not just a cryptocurrency exchange but a multi-asset social trading and investment platform. Founded in Israel, it has 3,000+ assets belonging to different asset classes available for trading. It may not have the widest crypto collection but it does allow for cross-asset trading.
eToro is completely transparent about its charges and there are no hidden fees anywhere. You can also get discounts on the withdrawal fee once you join eToro’s VIP club. It is one of the first brokerage platforms to introduce copy trading to its users. Hence, you can freely copy the trading strategies of top traders to invest in several assets.
Features
✔️Platform for social trading and investment
✔️More than 75 crypto coins for trading
✔️Supports stocks and ETFs with crypto
✔️VIP club with added benefits for users
Pros and Cons
✅Copy trading feature available ❌Limited cryptocurrencies
✅Strictly regulated investment platform ❌Charges inactivity fees
✅Zero fees for card deposits
✅Enables demo trading
Trading Fees
eToro fees for buying and selling cryptocurrency
eToro wallet fees
Customer Reviews
eToro has a wide range of tradable assets
Users are dissatisfied with eToro’s customer service
Why We Picked It
There are over 3,000 assets on eToro. This includes not just cryptocurrencies but other conventional assets as well for investment. Therefore, you can easily keep all your investments and manage your portfolio on one platform. eToro has been around for a long time and is one of the most regulated places for trading crypto.
Uphold
Uphold is a multi-asset platform launched in 2015. This means that in addition to cryptocurrencies, it also enables trading in traditional fiat currencies and precious metals such as gold and silver.
Uphold is a little different from other exchanges in that it does not charge any commission for trading but does charge a spread for the same. For cryptocurrencies like BTC and ETH, the spread is generally 1.5% in Europe.
You can also stake several popular cryptocurrencies on Uphold and earn rewards for it. There is a “Cryptionary” that teaches you about many terms associated with cryptocurrency trading and the crypto world in general.
2FA and strong passwords are standard on Uphold. In addition, it also conducts regular security audits and penetration tests and runs a Bug Bounty program to encourage users to report security vulnerabilities in the system.
Features
✔️Supports trading in cryptocurrency, fiat currency and precious metals
✔️Over 250 cryptocurrencies available
✔️Regular audits and pen tests and bug bounty program for security
Pros and Cons
✅Adequate crypto collection ❌Expensive spreads
✅Low minimum deposit
requirements
✅Free deposits and withdrawals
Trading Fees
Uphold fees explained
Customer Reviews
Uphold has a minimalist design and is easy to navigate
Withdrawals can be difficult on Uphold
Why We Picked It
Uphold has a large variety of cryptocurrencies including stablecoins. It also enables trading in forex, gold and silver. Here, cross-asset trading is also possible. For example, you can directly swap BTC for gold or any other stock without first converting it into cash.
CEX.io
CEX.io is a simple exchange but it has a lot to offer to crypto traders. It is a platform that makes it easy to approach cryptocurrencies. Here, you can get access to 200+ cryptocurrencies with reasonable maker and taker fees.
On CEX.io, users are divided into three categories- Everyone, Trader and Business and each category is provided services tailored to their demographic. Everyone can use the Instant Buy feature to buy cryptocurrencies and traders can conduct spot and margin trades. They can also advanced charts and stop orders on CEX.io.
Meanwhile, businesses get access to a whole institutional-grade ecosystem with CEX.io PRIME. Besides that, the platform also enables crypto lending and offers a wallet where you can store your crypto. You can also stake crypto assets on CEX.io to earn some passive income.
Features
✔️More than cryptocurrencies available for trading
✔️Licensed and regulated exchange
✔️Three user categories
✔️Has a native crypto wallet
Pros and Cons
✅Satisfactory coin collection ❌Verification process can be long
✅Provides staking opportunities ❌Low liquidity
✅Enables crypto lending
✅Spot fees are low
Trading Fees
CEX.io exchange fees
Customer Reviews
CEX.io gives a flawless trading experience
CEX.io may withhold deposits
Why We Picked It
CEX.io has obtained the relevant licenses in several places. Hence, it is a properly regulated crypto trading platform. It supports several payment methods for buying and selling cryptocurrency, offers crypto loans and good returns on crypto staking. There is also a native wallet in which you can store your cryptocurrency.
4 Top P2P Exchanges in Bolivia
Paxful
Paxful is one of the most famous P2P exchanges with people preferring it to negotiate and trade directly with other crypto buyers and sellers. This exchange supports over 350 payment options including debit cards, credit cards, PayPal, online wallets or even cash.
There are no fees for buying cryptocurrency on Paxful. However, it does charge a selling fee depending on the type of payment method used.
On Paxful, sellers have the advantage that they can set their own rates for Bitcoin. The platform also offers Paxful Pay for businesses. It charges a transaction fee of 1% and enables businesses to accept crypto payments from a global user base. Paxful also rewards users for inviting their friends to the platform via its referral program.
Features
✔️Over 350 payment methods available
✔️Purchases and sales with BTC and USDT
✔️Escrow trading possible
✔️Paxful wallet for storing BTC
Pros and Cons
✅Multiple payment options ❌High sales fee
✅Supports biometric verification ❌Possibility of scams
✅Referral program with rewards
✅No fees
Trading Fees
Fees for Paxful
Customer Reviews
Convenience is a major advantage of Paxful
There is a possibility of scams on Paxful
Why We Picked It
On Paxful, crypto buyers and sellers can directly interact with each other. It does not take any fees for buy orders and supports escrow trading as well. There is also an active rewards program for users.
UniSwap
If you are not comfortable handing over your personal information to a centralized corporation, you can try a decentralized cryptocurrency exchange like UniSwap. Here, you don’t need to enter any sort of identifying information for registration and can simply start trading by connecting a compatible crypto wallet with the platform.
To eliminate the role of intermediaries, UniSwap uses a collection of smart contracts that define how liquidity pools are to be created and liquidity is to be provided. This way, everything is automated and there is no need for a central order book. Hence, you can instantly swap a variety of ERC-20 tokens on UniSwap.
The fees for token swaps on UniSwap are determined by the risk factor of the pair being swapped. A certain portion of the fee collected is given to liquidity providers as compensation for providing liquidity.
Features
✔️Platform created on Ethereum blockchain
✔️Employs the AMM protocol
✔️Native token is called UNI
✔️Open-source smart contracts
Pros and Cons
✅Access to a variety of ERC-20 tokens ❌No vetting before listing coins
✅Facilitates sale of NFTs ❌Gas fees on Ethereum can be
✅Use bank account to buy crypto high
✅Decisions taken by community vote
Trading Fees
Pool fees tiers for UniSwap exchange
Customer Reviews
UniSwap is a simple exchange with good UI
High gas fees are a major issue on UniSwap
Why We Picked It
UniSwap makes it easy to start crypto trading by just connecting a compatible wallet. It is a popular decentralized exchange partly due to its accessibility as you can buy crypto here with your bank account. UniSwap is a community-driven platform where proposals are voted on by UNI holders.
PancakeSwap
PancakeSwap is an improvement over UniSwap in many ways. Firstly, it doesn’t have much of a network congestion issue so transactions are quickly processed and users don’t have to pay expensive gas fees. Next, PancakeSwap has lots of interesting features with all sorts of rewards for users.
Syrup pools are available on PancakeSwap where you can stake the exchange’s native CAKE token, yield farms where you can stake assets to earn passive income, regular lottery programs that give you the opportunity to win CAKE tokens and Initial Farm Offerings(IFOs) to get early access to new tokens.
The pool fees on PancakeSwap are some of the lowest in the industry. Here, all the smart contracts are open-source and protected by multisig and time-lock technology.
Features
✔️Created on the BNB Chain
✔️Uses the AMM system
✔️Native utility token is called CAKE
✔️Multisig and time-locked smart contracts
Pros and Cons
✅Facilitates BEP-20 token swaps ❌Does not support BTC
✅Innovative crypto products ❌Issue of low-quality coins
✅Low trading fees
✅Staking options
Trading Fees
Four trading fee tiers at PancakeSwap cryptocurrency exchange
Customer Reviews
PancakeSwap is one of the largest DEXs
There is no verification of crypto coins on PancakeSwap
Why We Picked It
PancakeSwap is cute, colorful and an overall attractive and fun place to trade cryptocurrency. The low trading fees are an added bonus and the exchange promises a seamless trading experience with low slippage and capital efficiency. There are several interesting products such as IFOs and lottery programs that you can check out on PancakeSwap.
Bisq
Bisq is perhaps the most decentralized P2P cryptocurrency exchange. This is because it is not even a website but an open-source desktop software. You need to download and install this application on your computer for trading on the platform.
Bisq is a self-sustaining and censorship-resistant platform that is majorly run by the community as a decentralized autonomous organization(DAO).
Bisq doesn’t need any sort of registration or your personal information to verify your identity. You just need a crypto wallet, preferably with BTC and BSQ and you are ready to trade on Bisq. Since this is a non-custodial exchange, you retain the custody of your private keys and funds.
Features
✔️Free desktop application
✔️Exchange is run as a DAO
✔️Native token is known as BSQ
✔️Deposits kept in multisig wallets
Pros and Cons
✅Completely decentralized ❌Not suitable for beginner traders
platform ❌Need BTC or BSQ for trading
✅User custody over funds
✅No geographical limitations
✅Central failure not possible
Trading Fees
Fees for Bisq
Customer Reviews
Bisq is a completely decentralized exchange
Bisq’s interface needs to be updated
Why We Picked It
Bisq is a hands-off platform that gives you the freedom to trade as you want to. It is a self-sustainable and community-driven exchange. You maintain custody over your private keys here and there is no possibility of a central failure since its servers are geographically scattered.
Is Bitcoin Legal in Bolivia?
Bitcoin and all other cryptocurrencies are banned in Bolivia. In 2020, The Central Bank of Bolivia(BCB) issued a resolution aimed at prohibiting the use of crypto assets in the country. The resolution was ratified in 2022 as the BCB clarified that any currency not issued by it is illegal in Bolivia.
The BCB has also repeatedly issued warnings against cryptocurrencies which it declared to be untrustworthy. It has also issued statements regarding the risks of crypto investments including the high possibility of scams and fraud.
The Bottom Line
There are several cryptocurrency exchanges operating in Bolivia offering plenty of services to various demographics of crypto traders. However, there are no consumer protection measures in place for such traders as cryptocurrency is banned in the country.
As cryptocurrency is already an extremely volatile asset, it is always a good idea to proceed with caution while investing in it. You should introspect about your investment goals, analyze your risk tolerance, take into consideration the country’s legal environment and consult with a professional before putting your money into cryptocurrencies.