Brazil has always had an overall positive attitude towards cryptocurrencies. Some public agencies in the country have even been developing some interesting blockchain-related projects.
Cryptocurrencies are regulated by the Central Bank of Brazil and its Securities and Exchange Commission with proper clarity regarding the roles of both bodies.
Coming to the trading of cryptocurrencies, these days trading crypto via a crypto exchange is the most convenient method. Cryptocurrency exchanges are now no longer mere platforms for enabling crypto swaps but are now specialized platforms that offer many new and interesting crypto products.
There is no dearth of options in Brazil, which is one of the largest markets in South America, when it comes to crypto trading. There are several cryptocurrency exchanges in Brazil including local ones like Mercado Bitcoin.
We have compiled a list of the best crypto exchanges in Brazil so that you can learn in-depth about the prominent exchanges in the country.
8 Top Cryptocurrency Exchanges in Brazil
Mercado Bitcoin
Mercado Bitcoin is the largest and most famous cryptocurrency exchange in Brazil. It has also been licensed as a payment institution by the Central Bank of Brazil. The exchange offers several cryptocurrencies for trading and also accepts fiat currency including the Brazilian Real(BRL) for deposits. Wire transfers can also be used for depositing funds on Mercado Bitcoin.
Mercado Bitcoin mainly focuses on the Latin American market and you can start trading with a low 50 BRL investment. It charges a 0.70% taker fee and a 0.30% maker fee. The platform also operates MB Pay through which users can invest in digital fixed income.
Features
✔️Home-grown exchange
✔️Caters to Latin American traders
✔️Licensed as a Payment Institution
Pros and Cons
✅Supports BRL ❌Higher maker-taker fees
✅Low minimum deposit
✅DeFi assets available
Customer Reviews
Users like Mercado Bitcoin’s user interface
Users find the fees on Mercado Bitcoin costly
Why We Picked It
Mercado Bitcoin is a native home-grown exchange that caters primarily to Brazilian traders. You can easily buy crypto here with BRL and can start investing with very small amounts. The exchange takes all required security measures. You can also check out DeFi assets and NFTs on Mercado Bitcoin.
Ripio
Ripio is an Argentina-based cryptocurrency exchange that also operates in Brazil. It is one of the main blockchain companies in Latin America and offers 25+ cryptocurrencies for trading. You can buy crypto here with the Brazilian Real(BRL) and it also supports bank transfers and Mercado Pago.
Ripio offers a Visa-backed card that can be used to make payments from your Ripio wallet. Crypto swapping is also supported here and you can also get specialized B2B services on Ripio.
The platform keeps 95% of the assets in offline storage and encrypts all data for security. There is real-time monitoring to detect suspicious activity and 2-factor authentication(2FA) is used for account security.
Features
✔️25+ cryptocurrencies available for trading
✔️Prominent Latin American exchange
✔️Three-layered security system including 2FA
Pros and Cons
✅Supports several payments ❌Limited crypto available
methods ❌Commission on bank transfers
✅Supports BRL
✅Specialized B2B crypto services
Trading Fees
Ripio trading fees
Customer Reviews
Ripio is a good exchange for crypto trading in Brazil
Users have had not-so-good experiences with Ripio
Why We Picked It
Ripio is a prominent exchange that caters to the needs of Latin American crypto traders. You can buy crypto with BRL here and it even accepts bank transfers and Mercado Pago for deposits. You can also send or withdraw funds whenever you want to on Ripio.
Binance
Binance is the largest and one of the finest exchanges for trading cryptocurrency. Here, you can buy, sell and trade 350+ cryptocurrencies for fees as low as 0.1%. Besides simple spot trading, Binance also supports margin and derivatives trading, P2P trading, and swap farming and also offers OTC services. Binance also has a native token BNB which can be used to get further discounts on trading fees.
With Binance Earn, you can earn passive income on your crypto assets that would otherwise be lying idle. The exchange also has trading bots that enable you to trade like a pro. You can use them to automate your trades and investments as well as replicate the trading strategies of other users.
Binance also offers premium solutions for institutions. It provides them with asset management and custody services and rebates on spot and futures markets trades. You can also get loans secured by your crypto assets on Binance. It also has an NFT marketplace where you can explore IGOs and fan tokens and check out popular NFT collections.
Features
✔️Over 350 cryptocurrencies available for trading
✔️Biggest cryptocurrency exchange in the world
✔️BNB Coin is the native utility token
✔️Supports spot, margin and futures trading
Pros and Cons
✅Fantastic crypto collection ❌Legal problems in many places
✅Quick transactions ❌Not suitable for beginners
✅Trades are not costly
✅Trading bots for automated
trading
Trading Fees
Trading fees for Binance
Customer Reviews
Binance is a good platform for crypto transactions
Binance’s customer support should be more responsive
Why We Picked It
Binance offers a wide variety of products for both individual and institutional investors. Crypto trades are inexpensive here, you use BNB to get discounts on fees and access many crypto-earning services. P2P trading is also supported on Binance and it has an NFT marketplace as well.
Coinbase
Coinbase is also a famous international cryptocurrency exchange and a simpler alternative to Binance. The exchange is known for its minimalist approach to crypto trading. All you have to do is register on the platform, verify your KYC and click on the “Buy/Sell” button. Yup, that’s it. Even if you have never bought Bitcoin before, you don’t need to worry as Coinbase offers tutorials explaining every step in the process.
You not only get to trade 250+ assets here but can also stake your crypto assets to earn income on them. If you want to learn more about crypto trading in general, Coinbase’s Learn section is the place you should go to. It will help you in increasing your knowledge about cryptocurrency and blockchain technology. Plus, you can earn rewards for successfully completing courses and quizzes.
Apart from that, Coinbase also offers dedicated consultancy services for institutional investors.
Features
✔️Over 250 assets available for trading
✔️Second-biggest crypto exchange
✔️Basic and pro versions are available
✔️Consultancy services for institutional investors
Pros and Cons
✅Public listed company ❌Trades on Basic version are expensive
✅KYC is mandatory ❌Bad customer support
✅Low fees on Coinbase Pro
✅Tutorials and educational
resources
Trading Fees
Trading fees for Coinbase
Customer Reviews
Coinbase is an excellent exchange for crypto transactions
The verification process on Coinbase can be lengthy and tedious
Why We Picked It
Coinbase is transparent and simply an overall reliable platform. Its user interface is straightforward and user-friendly, the mobile app works well and comes with all the functionalities of the web version. You can get access to more advanced tools with Coinbase Pro.
Bybit
Bybit is younger in comparison to some other exchanges on this list but has been giving tough competition to them. It is a popular platform that regularly features among the Top 10 cryptocurrency exchanges. Bybit’s innovative products and trading features have helped it build a decent user base.
Though its main focus is on derivatives trading, Bybit also supports spot and margin trading. It supports debit cards, credit cards and bank transfers which can be used on its One-Click Buy feature to directly buy any of the supported cryptocurrencies.
Bybit also offers a physical card that can be used to make merchant payments straight from your crypto balance. For those interested in directly engaging with other crypto traders, the exchange has a P2P trading platform where you can negotiate freely with other traders.
Features
✔️Primarily a derivatives trading exchange
✔️280+ pairs available for spot trading
✔️Supports debit and credit cards and bank transfer
✔️Has a P2P trading platform
Pros and Cons
✅User-friendly interface ❌Derivatives trading can be a risky
✅Multi-lingual platform venture
✅Demo trading mode
✅Bybit card for payments
Trading Fees
Bybit trading fees
Customer Reviews
Bybit has a great user interface
Users have had negative experiences with Bybit
Why We Picked It
Bybit has a beginner-friendly layout but also offers many tools and features for advanced traders. The fees here are low for all types of trades and the VIP program also gives many additional perks and benefits to users. You can easily buy crypto here with a card or a bank transfer.
OKX
Earlier known as OKEx, OKX is not just a cryptocurrency exchange. Rather it is a complete crypto ecosystem with a native blockchain, wallet and token. With over 400 cryptocurrencies, OKX offers plenty of choice to crypto traders in terms of available coins.
OKX is perhaps one of the most user-friendly platforms with an intuitive design that makes buying and selling cryptocurrency a breeze. Further, it also lets you customize the layout as per your convenience on its advanced platform.
On OKX, you can indulge in spot, margin as well as derivatives trading. You can also stake assets in its mining pools and get good returns.
For security reasons, OKX keeps the majority of the user assets in cold storage which is disconnected from the internet. Beyond that, it does not keep more than 1,000 BTC in one cold wallet address. The exchange also maintains an asset risk reserve fund and uses 2FA, mobile verification and anti-phishing code for securing user accounts.
Features
✔️350+ cryptocurrencies available for trading
✔️Native blockchain and wallet
✔️Native coin is OKB
✔️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
✅Earning opportunities
✅Supports demo available
Trading Fees
OKX trading fees breakdown
Customer Reviews
Crypto trading is seamless on OKX
OKX has poor customer service
Why We Picked It
Buying and selling cryptocurrency is very easy on OKX. Trading fees are competitive here and you can get good APYs by staking assets. You can also use the native OKX wallet to explore DApps on the platform. The layout of the advanced platform can be customized according to your needs.
KuCoin
Nothing can match the sheer variety of cryptocurrencies on display on KuCoin. With more than 700 cryptocurrencies, there are very few exchanges that are able to stand up to KuCoin in this department. It is a multi-lingual exchange with Portuguese being one of the supported languages so you can comfortably trade on KuCoin.
With KuCoin Earn, you can get stable income on your otherwise idle crypto assets. It also supports crypto lending where you can interest by lending your cryptocurrency or get crypto-backed loans. There is also a referral program where users get a 20% commission for inviting their friends to KuCoin.
For a secure trading experience, KuCoin conducts regular security audits, penetration tests and architecture reviews of its platform. Multi-factor authentication is enabled for user accounts and 24/7 monitoring is done for additional security. Therefore, users are immediately alerted if suspicious activity is detected on their account.
Features
✔️700+ cryptocurrencies available for trading
✔️Available in 20+ languages including Portuguese
✔️Security audits, pen tests for security
✔️KuCoin token(KCS) is the native token
Pros and Cons
✅Massive crypto collection ❌Complex fee structure
✅Trading bots available ❌Issue of low-quality coins
✅Halo wallet to access Web3
✅Good staking opportunities
Trading Fees
OKX trading fees breakdown
Customer Reviews
KuCoin is a platform that is rather easy to use
KuCoin has less-than-stellar customer service
Why We Picked It
KuCoin is a fantastic platform if you have an eye for finding worthwhile crypto coins. You can get discounts on trading fees by using KCS for payments. Recurring transactions can be automated with trading bots and there are decent earning opportunities available on KuCoin.
Crypto.com
Singapore-based Crypto.com is a famous cryptocurrency exchange for app-based trading. It is a platform committed to developing mobile app-based crypto trading. Crypto.com offers users more than 250 cryptocurrencies for trading including over 500 pairs for margin trading.
Derivatives trading is also available here and crypto staking is also supported on Crypto.com. By staking Cronos(CRO) which is the exchange’s native coin, you can also avail discounts on trading fees. With Crypto.com’s referral program, you can get rewards for referring your friends to Crypto.com.
Further, the platform uses cold wallets for storing users’ crypto assets and secures every account with multi-factor authentication.
Features
✔️250+ cryptocurrencies available for trading
✔️Native coin is called Cronos(CRO)
✔️Crypto loans are available
✔️Native wallet for storing crypto
Pros and Cons
✅Decent crypto collection ❌Unsatisfactory learning resources
✅Good APYs on asset staking ❌Not suitable for new traders
✅Uses cold storage for assets
✅Referral program for users
Trading Fees
Fees for Crypto.com exchange
Customer Reviews
The Crypto.com app is a good option for trading cryptocurrency
Withdrawals can become a problem on Crypto.com
Why We Picked It
The Crypto.com app has several features and services that are worth checking out once. You can stake cryptocurrencies stablecoins and CRO here. By staking CRO, you get discounts on trading fees. There is also a referral program wherein you get rewarded for referring your friends to Crypto.com.
Top 2 P2P Exchanges in Brazil
UniSwap
Decentralized exchanges like UniSwap are a great option for P2P trading. Here, you don’t need to hand over your personal information to a centralized corporation. You can trade comfortably while maintaining your privacy and security on UniSwap.
To eliminate the role of intermediaries, UniSwap has adopted a system called Automated Market Maker(AMM) that uses a collection of smart contracts for defining how liquidity is to be provided on the platform, how tokens are to be swapped and how liquidity providers are to be compensated.
Thus, you can freely trade tons of ERC-20 tokens on UniSwap. It is an efficient and relatively accessible platform that can be used with any major crypto wallet like Metamask or Trust Wallet. The fees here are also low and a portion of the fee collected is given as compensation to liquidity providers.
Features
✔️Built on the Ethereum network
✔️Utilizes the AMM protocol
✔️Native token is called UNI
✔️Democratically governed by UNI holders
Pros and Cons
✅ERC-20 token swapping ❌Does not verify coins
✅Private and anonymous trading
✅User-friendly interface
✅Active bug bounty program
Trading Fees
UniSwap’s pool fees tiers
Customer Reviews
UniSwap is a rather accessible decentralized exchange
UniSwap has no complaint registration mechanism
Why We Picked It
UniSwap is a popular decentralized cryptocurrency exchange particularly because it is quite accessible. It uses AMM to automate the whole process of providing liquidity and preventing price manipulation. You can choose between a number of ERC-20 tokens for swapping while using UniSwap.
Paxful
Paxful is a P2P trading exchange where crypto buyers and sellers can directly interact and trade with each other. The great thing about this platform is that it supports over 350 payment methods to pay for your trades. You can use a debit card, a credit card, bank transfer or even cash to pay for cryptocurrency.
Sellers can also set their own rates for Bitcoin on Paxful. Paxful Pay is useful for businesses that can accept crypto payments from a global user base with it for a transaction fee of 1%. There is also a referral program on Paxful where you can invite your friends to the platform, grow your network and win rewards for the same.
Features
✔️350+ supported payment options
✔️Can use BTC and USDT for buying and selling
✔️Crypto wallet available for storing BTC
✔️Supports escrow trading
Pros and Cons
✅Plenty of payment options ❌Sales can be costly
✅Paxful Pay for merchants ❌Probability of scams
✅Sellers can set BTC rates
✅Referral scheme
Trading Fees
Paxful fees explained
Customer Reviews
Paxful is an efficient and convenient platform
Users have been scammed on Paxful
Why We Picked It
Paxful is fast, efficient and convenient. It supports a variety of options for making payments and you don’t have to pay any fees for crypto purchases. For merchants, Paxful Pay is a good option as it has no chargeback issues. It also runs a referral program where users can get rewards by growing their network on Paxful.
Is Cryptocurrency Legal in Brazil?
Yes, cryptocurrency is regulated in Brazil. They are overall viewed positively by the Brazilian government and many public agencies in the country are also working towards creating their own projects based on blockchain technology.
Crypto assets were first formally defined by the Federal Revenue Office(FRB) in May 2019.
A law was introduced in December 2022 for regulating the crypto market in Brazil. It authorizes the Central Bank of Brazil to regulate virtual asset service providers(VASPs).
However, token projects qualifying as securities would still fall under the purview of the Brazilian Securities and Exchange Commission(CVM). This legislation was signed by the Brazilian President in June 2023.
On the taxation front, the general rules applicable to moving goods also apply to cryptocurrencies. Crypto holders have to declare their virtual assets in the income tax statement. They are also subject to capital gains tax arising from sales if the gains are more than BRL 35,000. The tax rates on the same can vary from 15% to 22.5%.
Estate or inheritance tax ranging from 2% to 8% can also be levied on the crypto assets of a deceased person according to the rules of the state of his residence.
Conclusion
Brazilian traders have plenty of options to choose from for cryptocurrency trading. There are crypto exchanges catering to all types of traders- from beginners to expert traders looking for a more complex investment platform. Brazil’s regulatory clarity regarding crypto assets has also made it a hot crypto destination in South America.
However, you should always remember that cryptocurrencies are high-risk investments with significant price volatility. You can easily lose money instead of turning a profit while trading cryptocurrency. It is, therefore, important to first consult a professional for investment advice before putting your money in cryptocurrencies.