Argentina is a leader in cryptocurrency ownership not just in South America but in the world. Research firm GWI has estimated that cryptocurrency ownership in Argentina stands at 23.5% just behind Turkey. Chainalysis’ Global Cryptocurrency Adoption Index 2022 also reported that emerging markets such as Argentina lead in grassroots cryptocurrency adoption.
A major reason for the enthusiasm for cryptocurrencies is the sky-high inflation in the country. In March 2023, Argentina’s annual inflation was a whopping 104%. This has led to the rapid depreciation of the Argentine Peso(ARS). While the official exchange rate is 222 ARS per USD, it is double that in the black market at 464 ARS per USD.
This is why stablecoins like USDT and USDC are particularly popular in Argentina. Argentinians find cryptocurrencies to be a convenient method of cross-border transfers in a country where capital controls are imposed to prevent people from taking money out.
Crypto trading is, therefore, thriving in Argentina. Many cryptocurrency exchanges have noticed the growing potential for crypto and especially stablecoin trading in the country. This has resulted in many cryptocurrency exchanges entering the Argentinian market.
To make things easier for you, we have compiled a list of the best crypto exchanges in Argentina so that you can find the right platform to trade cryptocurrencies.
8 Best Cryptocurrency Exchanges Operating in Argentina
Ripio
Ripio is an Argentina-based cryptocurrency exchange where you can trade 20+ cryptocurrencies. You can buy crypto with ARS here and this exchange also supports bank transfers, Mercado Pago and even cash as deposit methods. In fact, Ripio accepts cash from somewhere around 8,000 convenience stores in Argentina.
It also offers a Visa-backed Ripio card which can be used to make payments with crypto from your Ripio wallet. Ripio also supports crypto swapping and offers specialized B2B services. There are also guides and tutorials to help you get acquainted with crypto trading.
Features
✔️20+ cryptocurrencies available for trading
✔️Home-grown exchange
✔️Three-layered security system
Pros and Cons
✅Supports multiple payment ❌Limited cryptocurrencies available
methods ❌Commission on bank transfers and
✅Supports ARS cash deposits
✅Offers B2B crypto services
Trading Fees
Ripio trading fees
Customer Reviews
Ripio is a good exchange for crypto trading in Argentina
Users have had bad experiences with Ripio
Why We Picked It
Ripio is a home-grown exchange that caters to the needs of Argentinian crypto traders. You can buy crypto with ARS here and it even accepts bank transfers and cash for deposits. It also allows you to send or withdraw your funds whenever you want to.
Buda
Buda is a cryptocurrency exchange based in Chile that also offers its services in Argentina. It is an exchange with deep liquidity and 99.9% uptime. The exchange securely keeps over 90% of the funds in cold storage i.e. vaults that are not connected to the internet.
Buda is a KYC-compliant exchange and also runs a referral program where you can get 20% of your friends’ payments as commission if they join using your referral code. There is also a mobile app for Android and iOS devices with which you can view your investment portfolio anywhere.
Features
✔️5 cryptocurrencies available
✔️Android and iOS apps available
✔️Offline vaults for the security of funds
Pros and Cons
✅Supports ARS ❌Limited cryptocurrencies available
✅High liquidity exchange
✅KYC-compliant platform
✅Referral program for users
Trading Fees
Trading fees for Buda
Customer Reviews
Buda is an exchange that is liked by users in South America
Transactions can be costly on Buda
Why We Picked It
Buda generally has deep liquidity and fast transaction settlement speeds. It supports Bitcoin purchases with ARS and you can also do bank transfers here. There are no maker fees for BTC/ARS trades and you can also earn a commission when your referrals trade on the platform.
Binance
Binance is a solid exchange for trading cryptocurrencies. Here, you can buy, sell and trade over 350 cryptocurrencies at fees as low as 0.1%. If that piqued your interest, you would also like the various trading options Binance offers. It supports not just spot trading but also margin and P2P trading, swap farming, derivatives trading, and OTC services.
Binance enables you to earn passive income on your crypto assets that would otherwise be lying idle. You can trade like a pro on Binance with the help of its trading bots. Using these bots, you can not just automate your trades and investments but also replicate trending strategies.
For institutions, Binance has premium solutions such as asset management and custody services and rebates for trading in the spot and futures markets. Crypto lending is also a popular option on Binance where you can get loans that are secured by your crypto assets.
Features
✔️350+ cryptocurrencies available for trading
✔️Biggest cryptocurrency exchange
✔️BNB Coin is the native token
✔️Spot, margin and futures trading supported
Pros and Cons
✅Fantastic crypto collection ❌Legal troubles in many places
✅Fast transactions ❌Exchange not suitable for beginners
✅Inexpensive trades
✅Trading bots to automate trades
Trading Fees
Trading fees for Binance
Customer Reviews
Binance is a great exchange for crypto transactions
Binance’s customer support needs improvements
Why We Picked It
Binance offers many choices for both individual and institutional investors. You can trade cryptocurrencies at a very low cost here, use BNB to get discounts on fees and access many crypto-earning services. P2P trading is also supported on Binance if you prefer to negotiate directly with other crypto traders.
Coinbase
If you find Binance to be a tad bit complicated, we don’t blame you. Instead, we suggest the perfect alternative in the form of Coinbase. All you have to do is register an account, get your KYC verified and click on the ‘Buy/Sell’ button. That’s all. Even if you have never bought Bitcoin before, Coinbase will help you quickly get familiar with crypto trading.
If you do want to learn in-depth about crypto trading, head over to Coinbase’s Learn section. Here, you can not only increase your knowledge about cryptocurrency and blockchain but also earn crypto rewards for successfully completing courses and quizzes.
For institutional investors, Coinbase offers more than 350 pairs for trading and dedicated execution consultancy services.
Features
✔️250+ assets available for trading
✔️Second-biggest cryptocurrency exchange
✔️Basic and pro versions available
✔️Execution consultancy services for institutional investors
Pros and Cons
✅Public company ❌Basic version is expensive
✅Compulsory KYC ❌Poor customer service
✅Coinbase Pro has lower fees
✅Learn to Earn scheme
Trading Fees
Trading fees for Coinbase
Customer Reviews
Coinbase is a fantastic exchange for cryptocurrency-related transactions
ID verification on Coinbase can be a tedious process
Why We Picked It
Coinbase is transparent, accountable and an overall reliable platform. Its user interface is simple and beginner-friendly, the mobile app has great reviews and comes with all the functionalities of the web version and you can access more sophisticated tools on the Coinbase Pro platform.
Kraken
Kraken has been in the crypto industry for over a decade and it is still going strong. On this exchange, there are 200+ available to you for trading at dynamic prices. You should definitely check out Kraken if you’re planning to stake your assets. Here, you can get up to 24% annual rewards on your crypto assets.
The high liquidity on Kraken helps you execute large volume trades at stable prices while your average cost per trade is lowered due to its low spreads. Besides spot, futures and margin trading, crypto indices and OTC services are also available on Kraken.
Further, you can deepen your technical understanding of cryptocurrencies and stay up-to-date with the latest trends in the crypto world with Kraken. Catch up on the news on its blog, study the individual crypto guides to thoroughly learn about different coins or listen to its cryptocurrency podcast while doing your chores.
Features
✔️200+ cryptocurrencies available for trading
✔️Basic and Pro versions available
✔️Supports spot, futures and margin trades
✔️Crypto indices for investment
Pros and Cons
✅Great crypto selection ❌Kraken Instant Buy can be expensive
✅Multiple order types ❌Incidents of compromised accounts
✅High APYs for staking assets
✅Highly liquid platform
Trading Fees
Fees for Kraken Instant Buy
Fees for Kraken Pro
Customer Reviews
Kraken is a standard crypto exchange for trading
Fees on Kraken can be very high sometimes
Why We Picked It
Kraken is an old and established exchange with high liquidity. You can smoothly execute large-volume trades here and even invest in crypto indices or avail of its OTC services. Kraken’s compilation of crypto educational material is also unparalleled.
Bybit
Compared to some other exchanges on this list, Bybit is a relatively new exchange. That has, however, not stopped it from giving tough competition to more established exchanges. Bybit’s popularity seems to stem from its trading features and the innovative products that it has introduced.
Bybit supports spot and options trading even though its primary focus is on derivatives trading. With its One-Click Buy feature, you can simply buy any cryptocurrency of your choice with your debit card, credit card or bank transfer with a single click.
Bybit has a P2P trading platform for people who prefer direct trading with others. You can also get a Bybit card with which you can pay for merchant transactions directly from your Bybit account.
Features
✔️Main attraction is derivative trading options
✔️280+ pairs for spot trading
✔️Debit and credit card and bank transfer for payments
✔️Supports P2P trading
Pros and Cons
✅User-friendly layout ❌Derivatives trading is a risky venture
✅Supports multiple languages
✅Demo trading feature
✅Bybit card for payments
Trading Fees
Bybit trading fees
Customer Reviews
Bybit has an excellent UI
Users have had a bad experience with Bybit
Why We Picked It
Bybit has a plethora of crypto products for both beginner and advanced traders. Not only are the fees quite low here but the VIP program also gives many additional perks and benefits to users. You can conveniently buy crypto with just one click on Bybit.
OKX
Previously known as OKEx, OKX is a whole crypto ecosystem with its own blockchain, token and wallet. In addition, it offers plenty of choice to users in the form of the 400+ cryptocurrencies it has available for trading.
OKX is one of the most user-friendly crypto exchanges and buying and selling crypto here is a breeze. You can even customize the layout as per your preferences on its advanced platform. OKX supports spot, margin and derivatives trading as well as asset staking in its mining pools. Besides that, you can also explore DApps on this platform.
To ensure asset safety, OKX keeps the majority of the user funds in cold storage. Even above that, it does not keep more than 1,000 BTC in one cold wallet address. OKX also maintains an asset risk reserve fund and encourages users to turn on 2FA, anti-phishing code and mobile verification for better account security.
Features
✔️350+ cryptocurrencies available for trading
✔️Native blockchain, token and wallet
✔️Cold wallets, 2FA and mobile verification for security
Pros and Cons
✅Supports many payment ❌Fee structure is complicated
methods ❌Slightly lower liquidity
✅Low fees for trading
✅Crypto staking opportunities
✅Supports demo trading
Trading Fees
OKX trading fees breakdown
Customer Reviews
OKX provides a smooth trading experience
OKX’s customer service is bad
Why We Picked It
Buying and selling cryptocurrency is a breeze on OKX. Trading fees are low here and you can get quite APYs by staking assets on OKX. You can also use its native wallet to explore DApps on the platform. Further, you can also customize the layout as per your needs on the advanced platform.
KuCoin
Seychelles-based cryptocurrency exchange KuCoin is heaven for crypto traders due to the massive cryptocurrency on display here. Further, this exchange supports a multitude of languages including Spanish so you can be right at home on KuCoin.
Plus, despite being a centralized exchange, KuCoin allows you to trade to a certain limit without KYC verification. Therefore, you can conduct small-volume trades anonymously on KuCoin.
KuCoin conducts regular security code audits, pen tests and architecture reviews in order to secure its platform. Multi-factor authentication and 24/7 address monitoring are standard here for account security. Users even get alerts if suspicious activity is detected on their accounts.
Features
✔️700+ cryptocurrencies available for trading
✔️Available in 20+ languages
✔️Security audits and pen tests for security
✔️KuCoin token(KCS) is the native utility token
Pros and Cons
✅Massive crypto collection ❌Complex fee structure
✅Trading bots available ❌Issue of scam coins
✅Halo wallet to access Web3
✅Anonymous trading to certain extent
Trading Fees
OKX trading fees breakdown
Customer Reviews
KuCoin is a platform that is easy to navigate
KuCoin has less-than-stellar customer service
Why We Picked It
KuCoin is a fantastic option if you can sift through its massive crypto collection to find coins that are worthwhile. You can get discounts on trading fees by using KCS for payments and also automate your trades with the trading bots on KuCoin.
Top 2 Decentralized Exchanges in Argentina
UniSwap
UniSwap was created in 2018 and since then, it has come a long way to become one of the top decentralized exchanges. It is one of the most prominent Ethereum-based DeFi projects that almost always use the Automated Market Maker(AMM) system for functioning.
The platform is essentially run by a collection of smart contracts that tell how liquidity pools are to be created, liquidity is to be provided and assets are to be swapped.
Apart from that, since UniSwap is a non-custodial exchange, you do not need to transfer your funds to the platform. It does not need any sort of account registration or KYC verification. You just need a crypto wallet that is compatible with the exchange to trade on UniSwap.
Features
✔️Runs on the Ethereum chain
✔️Enables near-instant trading
✔️UNI is the native utility token
✔️Compatible with several leading crypto wallets
Pros and Cons
✅Non-custodial platform ❌Ethereum gas fees are costly
✅Facilitates ERC-20 token swaps
✅Earning crypto via liquidity pools
✅Governed by UNI holders
Trading Fees
Pool fees for UniSwap
Customer Reviews
UniSwap is a standard DeFi platform liked by users
There is no complaint mechanism on UniSwap
Why We Picked It
UniSwap owes its popularity in large part to its accessibility. It is a very user-friendly platform as far as decentralized exchanges go especially compared to some more niche platforms. Further, the fees here are reasonable and it does not need any sort of identifying information or custody of user funds.
PancakeSwap
PancakeSwap sounds similar to UniSwap and it even shares the underlying technology(AMM protocol) with the latter. The main difference is that PancakeSwap was created on the BNB Chain while UniSwap runs on the Ethereum blockchain.
PancakeSwap is compatible with many prominent crypto wallets so you can start trading instantly by simply connecting your wallet to the exchange. It has a native token CAKE and you can earn handsome rewards for staking CAKE on PancakeSwap. The platform also hosts regular lottery programs and Initial Farm Offerings(IFOs) in which you can participate.
PancakeSwap is also an open-source DeFi project and the public availability of its smart contracts has brought more transparency in its operations. These smart contracts are also multisig and time-locked for additional security. Since flash loan attacks are a big problem for DeFi platforms, anti-flashloan attack protection is enabled for the PancakeSwap Vault.
Features
✔️Runs on the BNB Chain
✔️Employs the AMM protocol
✔️CAKE is the native utility token
✔️Multisig and time-locked smart contracts
Pros and Cons
✅Enables BEP-20 token swaps ❌BTC is not available
✅Low pool fees ❌Limited ERC-20 tokens
✅Innovative product offerings
✅Community governance
Trading Fees
PancakeSwap pool fees
Customer Reviews
PancakeSwap is an excellent platform with great CAKE staking options
PancakeSwap does not vet the coins on the platform
Why We Picked It
PancakeSwap is free from issues like expensive gas fees or network congestion. It has an innovative product suite and fantastic staking options that are worth checking out. Its fees are also on the lower side of the industry average which is great for liquidity providers and traders.
Is Crypto Trading Legal in Argentina?
Though Argentina is a regional leader in cryptocurrency adoption, the country’s authorities are not too enthusiastic about digital currencies. BCRA, Argentina’s central bank, has explicitly stated that virtual currencies are not legal tender and therefore, are not guaranteed by the government.
Broadly, Argentine law is rather vague about crypto trading. There is no outright ban like in China but no separate regulations to address concerns around cryptocurrencies either. In 2022, BCRA prohibited financial institutions especially banks from dealing with digital assets.
A year later, it also prohibited payment providers from facilitating crypto transactions in order to reduce the Argentine payment system’s exposure to cryptocurrencies.
Argentine financial regulators such as the National Securities Commission(CNV) have been particularly critical of initial coin offerings(ICOs). It has clarified that crypto market regulations do not apply to ICOs in principle but has also warned of risks associated with the same.
That said, Argentina has also revealed plans to establish a regulatory framework for crypto companies. The proposed law brings virtual asset service providers under the jurisdiction of the CNV which will then create regulations to be followed by cryptocurrency exchanges.
These would include compliance standards for the protection of users, the prevention of money laundering and the security of public savings.
These regulations are in response to the international standards set by the Financial Action Task Force(FATF) which is due to conduct an investigation in Argentina sometime in 2024.
Conclusion
Argentina has one of the biggest rates of crypto adoption in the world. Residents have turned to cryptocurrencies especially stablecoins to deal with the hyperinflation and capital controls in the country. It is expected that crypto exchanges and crypto trading will soon be brought under the jurisdiction of the CNV for better regulation of the sector.
Either way, the crypto industry continues to grow in the country and many cryptocurrency exchanges have started operating in Argentina offering a myriad of crypto-related services. Among these, the best exchange is always the one that is compatible with your goals and preferences.
However, since cryptocurrencies are volatile assets and crypto exchanges are rather loosely regulated, it is always better to do thorough research and get professional advice before deciding whether crypto trading is for you or not.