Summary
Cryptocurrency is legal in Brazil, with growing adoption and regulatory clarity. Popular payment methods include bank transfers and credit cards. The Brazilian Real (BRL) is widely supported on major exchanges. The Central Bank of Brazil and the Securities and Exchange Commission (CVM) are key regulatory bodies overseeing crypto activities. The legal framework is evolving, with recent laws aimed at preventing money laundering and regulating crypto assets. Here are the best crypto exchanges for Brazilian traders:
Best Crypto Exchanges in Brazil
This article examines the top crypto exchanges available to Brazilian traders, focusing on platforms that offer support for the Brazilian Real (BRL) and provide secure, efficient trading experiences. We’ll evaluate key factors such as supported cryptocurrencies, trading fees, deposit methods, and KYC requirements to help you make an informed decision.
For Brazilian users, bank transfers and credit card payments are commonly supported methods for funding accounts. Let’s compare the leading exchanges based on these critical criteria:
1. Bybit
Users:
40m
Free Demo:
Mobile App:
Bonus
$30,000
Cryptos:
600+
Leverage:
100x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.055%
Pros
- Low fees
- 600+ supported crypto assets
- 100x leverage and deep liquidity
- Advanced order types and additional features
- Great 24/7 customer support
- Automated copy trading
Cons
- Regulatory uncertainty in Europe and USA
- May be confusing for beginners
- Cryptocurrency investments carry high risks
Overview
Bybit stands out as one of the most advanced crypto exchanges with deep liquidity and low fees. Bybit users can trade Spot, Futures, Options, NFTs, and even Inscriptions. Additionally, Bybit offers copy trading and bot trading to automate your income streams. Bybit copy trading is one of the best in the crypto industry.
Where Bybit excels is its derivatives platform with 320+ perpetual futures contracts and up to 100x leverage. With advanced order types such as TWAP or Iceberg orders, Bybit caters to experienced traders seeking the best options.
On the spot market, Bybit supports over 500 cryptos and up to 10x margin, making Bybit a versatile crypto exchange.
With low fees of 0.1% maker and 0.1% taker for spot trading and 0.02% maker and 0.055% taker for futures trading, Bybit has highly competitive fees. To top it all off, Bybit offers fee discounts based on your 30-day trading volume. The more you trade, the more you save.
2. BTCC
Users:
5m
Free Demo:
Mobile App:
Bonus:
$11,000
Cryptos:
350+
Leverage:
500x
Spot Fees:
0.2%/0.3%
Futures Fees:
0.045%/0.045%
Pros
- Excellent futures trading
- Deep liquidity & Low futures fees
- 500x leverage for professionals
- Stocks, Forex, Commodities, Indices available
- 24/7 customer support
Cons
- Lacks spot assets
- Relatively high spot fees
- Not available in some countries
BTCC Overview
BTCC is a dedicated derivatives exchange offering cryptocurrencies, stocks, forex, commodities, and indices with up to 500x leverage. This makes BTCC an excellent choice for experienced day traders and crypto scalpers.
With deep liquidity and a wide variety of over 300 tradable assets, BTCC has one of the best futures trading platforms available. However, spot trading is a relatively new feature, meaning that BTCC only supports a low number of assets.
Fees at BTCC are highly competitive, starting at only 0.045% maker and 0.045% taker. VIP discounts are offered for users based on their 30-day trading volume, making BTCC a great crypto exchange for active traders.
BTCC also has a free demo trading account where users can practice trading without risking their money. This makes BTCC an attractive choice for beginners who are just starting out with crypto trading.
3. MEXC
Users:
15m
Free Demo:
Mobile App:
Bonus
$20,000
Cryptos:
2400+
Leverage:
300x
Spot Fees:
0.05%
Futures Fees:
0.01%/0.04%
Pros
- Lowest Trading Fees
- 2000+ supported crypto assets
- 300x leverage and deep liquidity
- 24/7 customer support
- Best for altcoin and leverage trading
Cons
- Not available in the US
- Newly launched coins pose high risk
- May request KYC in the future
Overview
MEXC is known as the crypto exchange with the lowest fees. What makes MEXC stand out is its 0% maker fee offer, meaning you can trade without any fees. However, the spot and futures taker fees start at 0.02%. No crypto exchange can compete with the MEXC fee structure.
If you are a day trader seeking high leverage, MEXC may be one of your best options. With 300x leverage over 400 futures contracts and by far the lowest fees, MEXC is truly a day trading heaven.
Even if you are not interested in leverage trading, MEXC has you covered with over 2000 supported cryptocurrencies on the spot market. While MEXC offers tons of new altcoins, we recommend being cautious as the legitimacy of newly listed projects may be questionable.
All in all, MEXC is arguably the best option for high-frequency traders seeking low fees to get the best value for money.
4. Mercado Bitcoin
Users:
4M
Free Demo:
Mobile App:
Bonus:
None
Cryptos:
278+
Leverage:
Not Supported
Spot Fees:
0.30%/0.70%
Futures Fees:
Not Supported
Pros
- Ideal for beginners
- Multiple investing options available, such as smart baskets
- Low trading fees
- User-friendly interface
Cons
- Limited payment methods
- Limited customer support
- Low liquidity
Mercado Bitcoin Overview
Mercado Bitcoin is a prominent cryptocurrency exchange in Brazil, catering to both novice and experienced traders. The platform supports over 278 digital assets, including major cryptocurrencies and altcoins. Mercado Bitcoin offers spot trading with fees of 0.30% for makers and 0.70% for takers.
The exchange provides a user-friendly mobile app for convenient trading on-the-go. Mercado Bitcoin serves a substantial user base of 4 million and implements KYC procedures for enhanced security. The platform offers multiple investing options, including smart baskets, which appeal to beginners seeking diversification.
However, Mercado Bitcoin does not support futures trading, limiting options for advanced traders. The exchange has limited payment methods and customer support, which may pose challenges for some users. Additionally, low liquidity could impact trade execution and pricing for larger orders.
Mercado Bitcoin does not currently offer any promotional bonuses for new or existing traders. The platform also lacks a demo account for risk-free strategy testing.
5. OKX
Users:
50m
Free Demo:
Mobile App:
Bonus:
$10
Cryptos:
350+
Leverage:
100x
Spot Fees:
0.14%/0.1%
Futures Fees:
0.01%/0.06%
Pros
- Highly efficient trading platform
- 350+ assets
- Free demo trading
- Fiat supported
- 24/7 customer support
Cons
- Not available in the US
- Not beginner-friendly
- Limitations and restrictions in Europe
OXK Overview
OKX is the third largest crypto exchange sorted by daily derivatives volume. This is no surprise since OKX’s focus lies in offering a high-efficiency leverage trading experience. While the UI is not necessarily beginner-friendly, it is one of the fastest and most reliable platforms we have come across.
Over 300 coins are supported on OKXs spot market while 250 contracts are available for futures trading with up to 100x leverage. What makes OKX stand out is its extensive liquidity which are without a doubt at the top of the game.
With low futures fees starting at 0.02% maker and 0.05% taker, OKX ensures a cost efficient derivatives trading environment. Spot trading fees however are on the more expensive side starting at 0.14% for makers and 0.23% for takers.
You can easily deposit funds using your credit/debit card. Additionally, you can deposit and withdraw fiat using your personal bank account, making OKX a reliable platform for on- and off-ramp funds.
Is Crypto Legal and Regulated in Brazil?
Cryptocurrency is legal in Brazil, and the country has made significant strides in regulating the crypto industry. The Brazilian government has implemented a comprehensive legal framework to oversee crypto activities and protect investors.
In December 2022, Brazil passed Law No. 14,478, which establishes guidelines for the provision of virtual asset services. This law defines virtual assets and outlines the responsibilities of service providers in the crypto sector.
The primary regulatory bodies overseeing crypto activities in Brazil are:
- The Central Bank of Brazil (Banco Central do Brasil): Responsible for monetary policy and financial system stability.
- The Securities and Exchange Commission (Comissão de Valores Mobiliários – CVM): Oversees securities and investment products, including certain crypto assets.
These agencies work together to enforce anti-money laundering (AML) measures and know-your-customer (KYC) procedures in the crypto industry. Crypto exchanges operating in Brazil must register with the Central Bank and comply with reporting requirements to prevent illicit activities.
Is Crypto Taxable in Brazil?
Yes, cryptocurrency is taxable in Brazil. The Brazilian Federal Revenue Service (Receita Federal do Brasil) has issued guidelines on the taxation of crypto assets. Here are key points to consider:
- Capital Gains Tax: Profits from selling cryptocurrencies are subject to capital gains tax. The rate varies from 15% to 22.5%, depending on the total gain amount.
- Monthly Reporting: Individuals must report crypto transactions exceeding R$30,000 (approximately $6,000) in a single month.
- Annual Declaration: Crypto holdings must be reported in the annual tax declaration if they exceed R$5,000 (about $1,000).
The Brazilian government has been working on refining its crypto tax laws. In 2022, a new regulation was proposed to standardize the taxation of crypto assets across different exchanges and improve transparency in the sector.
Disclaimer:
Tax laws are subject to change, and individual circumstances may vary. It is strongly advised to consult with a qualified tax professional or financial advisor for personalized guidance on cryptocurrency taxation in Brazil.
How to Buy Crypto in Brazil
Purchasing cryptocurrency in Brazil has become increasingly accessible. We recommend using Bybit for its user-friendly interface, competitive fees, and support for the Brazilian Real. Whether you’re interested in buying Bitcoin, Ethereum, or other popular cryptocurrencies, follow these steps to get started:
- Choose a Crypto Exchange: Select a trustworthy exchange that accepts BRL and offers the cryptocurrencies you wish to buy. Check the platform’s available payment methods and KYC policies.
- Register and Complete Identity Verification: Create an account on your selected exchange. Finish the KYC process by submitting required documents, such as a government-issued ID and proof of residence.
- Fund Your Account: Deposit BRL into your account. Common payment options in Brazil include bank transfers (TED/DOC), instant PIX payments, and credit cards. Some exchanges may also allow boleto bancário.
- Pick Your Cryptocurrency: Decide on the crypto asset you want to acquire. Popular choices include Bitcoin (BTC), Ethereum (ETH), and stablecoins like Tether (USDT).
- Make Your Purchase: Specify the quantity you wish to buy and review the transaction details carefully. Confirm the purchase to complete the trade.
- Secure Your Assets: Once you’ve made your purchase, consider moving your crypto to a secure wallet. You can either use the exchange’s internal wallet or transfer your assets to an external wallet for enhanced protection.
Always conduct thorough research on market trends and be aware of the risks involved in cryptocurrency investments. It’s wise to start with smaller amounts to get acquainted with the trading process and gradually increase your investment as you build experience and confidence.
Best Crypto Wallets in Brazil
Selecting a reliable and user-friendly crypto wallet is essential for investors in Brazil. Here are some top wallet options that cater to Brazilian users:
- Ledger: A leading brand in hardware wallets, Ledger provides cold storage solutions that ensure offline security for various cryptocurrencies. These devices are perfect for long-term investors and those holding substantial amounts.
- Trezor: Another trusted name in the hardware wallet space, Trezor offers strong security measures and supports a broad range of cryptocurrencies, making it suitable for both novice and experienced users.
- Trust Wallet: This versatile mobile wallet accommodates numerous cryptocurrencies and tokens. Its intuitive interface and built-in decentralized exchange (DEX) functionality make it an excellent choice for active traders in Brazil.
- Exodus: Known for its user-friendly design, Exodus is available on both desktop and mobile platforms. It features a built-in exchange and supports a wide array of assets, making it a great option for Brazilian users who favor software wallets.
- MetaMask: This wallet functions as a browser extension and mobile app, focusing primarily on Ethereum and ERC-20 tokens. MetaMask is essential for interacting with decentralized applications (dApps) and tapping into the rapidly expanding DeFi ecosystem in Brazil.
When selecting a wallet, consider aspects such as security features, supported cryptocurrencies, user-friendliness, and backup options. For significant investments, hardware wallets like Ledger or Trezor provide the highest security levels. Meanwhile, mobile wallets such as Trust Wallet and Exodus are convenient for daily transactions, while MetaMask is key for engaging with the burgeoning DeFi landscape in Brazil.
Bottom Line
For Brazilian crypto enthusiasts seeking the best crypto exchanges in Brazil, we highly recommend Bybit as the top choice. Its robust security measures, competitive fees, and support for BRL make it an excellent platform for both novice and experienced traders. For those preferring a more diverse selection of assets, BTCC stands out as a strong alternative, offering a wide range of cryptocurrencies and user-friendly features. Both exchanges provide reliable services tailored to the Brazilian market, ensuring a seamless trading experience while complying with local regulations.
