Summary
Cryptocurrency is legal in Chile, though it’s not considered legal tender. The Financial Market Commission (CMF) oversees crypto regulations. Popular payment methods include bank transfers and credit cards. The Chilean peso (CLP) is supported by some exchanges. Key regulatory bodies include the Central Bank of Chile and the Financial Intelligence Unit (UAF). Here are the best crypto exchanges in Chile:
- Binance – Wide range of cryptocurrencies and competitive fees
- Coinbase – User-friendly platform with strong security measures
- Kraken – Advanced trading features and reliable customer support
- Slex – Emerging exchange with competitive offerings
- MEXC – Extensive altcoin selection and innovative features
Best Crypto Exchanges in Chile
This article examines the top cryptocurrency exchanges available to Chilean users. We’ll explore factors such as supported cryptocurrencies, trading fees, deposit methods, and KYC requirements. For Chilean investors, exchanges supporting Chilean peso (CLP) deposits via bank transfers are particularly noteworthy, as they offer a direct fiat on-ramp.
1. Binance
Users:
200m
Free Demo:
Mobile App:
Bonus:
$100
Cryptos:
400+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.05%
Pros
- Most comprehensive crypto exchange
- Most advanced features and products
- 24/7 customer support
- 400+ cryptocurrencies
- Reputable with over 200 million users
- Best liquidity
Cons
- Not beginner friendly
- Restricted in many regions due to regulations
- EU traders must use BNFCR for futures trading
Overview
Reaching over 200 million registered users in 2024, Binance is by far the largest crypto exchange in the world. The platform is incredibly comprehensive, offering crypto traders all the tools they need to make a profit in the crypto market.
With over 400 cryptocurrencies to trade, leverage of up to 125x, directly integrated charts from TradingView with tons of technical analysis tools, and many more features, Binance has secured its spot as one of the best crypto exchanges.
Binance offers a wide variety of products, including spot, margin, futures, and options trading, staking, lending, P2P, automated bot trading, copy trading, and even an NFT marketplace. It is safe to say that crypto geeks will find everything they are looking for on Binance.
The trading fees on Binance are very affordable. Binance charges 0.1% trading fees on the spot market (makers and takers alike), which is the industry standard. Where Binance excels is the futures market with fees of only 0.02% for makers and 0.05% for takers.
2. Coinbase
Users:
100m
Free Demo:
Mobile App:
Bonus:
$10
Cryptos:
250+
Leverage:
5x
Spot Fees:
0.4%/0.6%
Futures Fees:
0.02%/0.05%
Pros
- Most beginner-friendly exchange
- Fully regulated and licensed
- Great customer support
- Reputable with over 100 million users
- Comprehensive fiat deposit methods
- Great wallet for on-chain access
Cons
- Lacks advanced features
- Very high spot trading fees
- Poor liquidity
Coinbase Overview
Coinbase is one of the largest and most well-known cryptocurrency exchanges for buying cryptos.The platform currently has a user community of over 100 million users worldwide. What makes Coinbase special is its user-friendly interface. The platform is designed to be easy to use, making it accessible for beginners. Coinbase offers a clean and intuitive interface for buying, selling, and managing cryptocurrencies.
Crypto traders have access to over 250 cryptos for active trading. One downside of Coinbase is the fee structure. When you place an order at the market price that gets filled immediately, you are considered a taker and will pay a fee of 0.60%, which is very expensive.
Another thing about Coinbase is that it offers a wide range of crypto services. These include wallets, NFT, crypto staking, Coinbase cards, and many more to help improve the overall trading experience on the platform. One of our favorite features is the Coinbase wallet.
It is suitable for beginners but also offers advanced trading tools including real-time charts, technical indicators, and many more for advanced traders.
3. Kraken
Users:
10m
Free Demo:
Mobile App:
Bonus:
None
Cryptos:
220+
Leverage:
100x
Spot Fees:
0.25%/0.4%
Futures Fees:
0.02%/0.05%
Pros
- Very beginner-friendly
- Low futures trading fees
- Free demo trading
- Fiat supported
- 24/7 customer support
- Fully regulated
Cons
- High spot trading fees
- Lacks advanced features
- Poor liquidity for futures trading
- Complicated Demo trading
Kraken Overview
Kraken stands out as one of the most beginner-friendly crypto exchanges. With an easy to understand UI, simple features, and a straightforward approach, Kraken has onboarded over 10 million users to its platform from all around the world.
Spot traders can access over 220 cryptocurrencies for buying and selling. For traders seeking more buying power, Kraken offers a leverage trading platform with up to 50x leverage on selected assets such as BTC.
In terms of fees, Kraken has a different approach for spot and futures trading. While spot trading fees are relatively high (0.25% maker and 0.4% taker), the futures fees are very low (0.02% maker and 0.05% taker). Based on your 30-day trading volume, you can obtain additional fee discounts.
What we love about Kraken is its comprehensive fiat support. You can deposit funds using your credit card or bank transfer. Once you are done trading, you can withdraw fiat currencies such as EUR or USD back to your personal bank account to lock in your profits.
4. Slex
Users:
Unknown
Free Demo:
Mobile App:
Bonus:
None
Cryptos:
53+
Leverage:
Not Supported
Spot Fees:
0.20%/0.20%
Futures Fees:
Not Supported
Pros
- Supports both cryptocurrencies and commodities
- Safe and secure
- Includes Slavo wallet for dApp access
Cons
- No mobile app
- Relatively new platform
- Lacks futures or margin trading options
Slex.io Overview
Slex is a hybrid cryptocurrency and commodity exchange, offering a unique trading platform for both digital assets and traditional commodities. The exchange supports trading for over 53 cryptocurrencies, providing users with a diverse range of investment options.
Slex implements a flat fee structure for spot trading, charging 0.20% for both makers and takers. The platform requires users to complete KYC procedures, enhancing security measures and regulatory compliance.
A notable feature of Slex is its provision of trading bots, allowing users to automate their trading strategies. The exchange also offers the Slavo wallet, enabling access to decentralized applications and expanding the platform’s functionality beyond traditional trading.
Slex prioritizes security, implementing robust measures to protect user assets and data. However, the exchange lacks several features common to larger platforms, including futures and margin trading. Additionally, Slex does not offer a mobile application, which may limit accessibility for users preferring on-the-go trading.
5. 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.
Is Crypto Legal and Regulated in Chile?
Cryptocurrency is legal in Chile, but it’s not recognized as legal tender. The Chilean government maintains a neutral stance towards digital assets. The Financial Market Commission (CMF) is the primary regulatory body overseeing crypto-related activities in the country.
In 2019, the Chilean government introduced a Fintech Law that includes provisions for cryptocurrency exchanges. This law requires crypto platforms to register with the Financial Intelligence Unit (UAF) and comply with anti-money laundering (AML) regulations.
The Central Bank of Chile has warned about the risks associated with cryptocurrencies but hasn’t imposed strict regulations. In 2018, the bank stated that it would continue to study blockchain technology and its potential applications.
Chilean banks have had a complex relationship with crypto exchanges. In 2018, some banks closed accounts of crypto exchanges, but the Constitutional Court of Chile ruled that this action was unconstitutional, protecting the rights of crypto businesses to operate bank accounts.
Is Crypto Taxable in Chile?
Cryptocurrency taxation in Chile is subject to the general tax framework, as there are no specific laws addressing digital assets. The Chilean Internal Revenue Service (Servicio de Impuestos Internos or SII) considers cryptocurrencies as intangible movable assets.
Income derived from cryptocurrency transactions is generally subject to income tax. For individuals, this falls under the Complementary Global Tax (Impuesto Global Complementario), with progressive rates ranging from 0% to 40%, depending on the income bracket.
Capital gains from the sale of cryptocurrencies are typically taxed at a flat rate of 20% for non-habitual traders. However, if cryptocurrency trading is considered a habitual activity or part of a business, it may be subject to First Category Tax, which has a rate of 25% for most businesses.
The SII requires taxpayers to keep detailed records of their cryptocurrency transactions, including acquisition costs and sale prices, to accurately report their taxable income.
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 Chile.
How to Buy Crypto in Chile
Purchasing cryptocurrencies in Chile has become increasingly accessible. We recommend using Binance for its wide range of cryptocurrencies, competitive fees, and support for Chilean peso (CLP) deposits. Here’s a step-by-step guide to buying cryptocurrencies like Bitcoin, Ethereum, or USDT in Chile:
- Choose a Crypto Exchange: Select a reliable exchange that supports Chilean pesos (CLP) and offers the cryptocurrencies you’re interested in trading. Check the platform’s payment methods and ensure it complies with Know Your Customer (KYC) regulations.
- Create an Account and Verify Your Identity: Sign up on the chosen exchange and complete the KYC process by submitting required documents, which typically include a valid ID and proof of residence.
- Fund Your Account: Deposit Chilean pesos into your account. Common options in Chile include bank transfers (often the most affordable), credit cards, and sometimes cash deposits at designated locations.
- Choose Your Cryptocurrency: Go to the trading section of the platform and select the cryptocurrency you want to purchase. Popular choices among Chilean investors include Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
- Complete the Purchase: Enter the amount of CLP you’d like to spend or the quantity of cryptocurrency you want to buy. Double-check the transaction details, including any fees, and confirm the purchase.
- Secure Your Funds: After the purchase, transfer your digital assets to a secure wallet. For larger holdings or long-term storage, it’s advisable to use a hardware wallet for additional protection.
Be mindful of exchange rates and fees when using CLP to buy cryptocurrency. Some platforms may offer more favorable rates or lower fees based on payment methods or transaction amounts.
Best Crypto Wallets in Chile
Choosing a secure crypto wallet is essential for investors in Chile. Below are some top wallet options to consider:
- Ledger: Known for offering top-tier hardware wallets like Nano S and Nano X, Ledger provides offline storage, making it ideal for safeguarding assets over the long term.
- Trezor: A trusted name in hardware wallets, Trezor’s models like Trezor One and Model T offer strong security paired with a user-friendly design, perfect for both beginners and experienced users.
- Trust Wallet: A highly versatile mobile wallet, Trust Wallet supports a wide variety of cryptocurrencies and comes equipped with features like in-app exchanges and a DApp browser, making it a solid choice for Chilean traders who require both flexibility and functionality.
- Exodus: Known for its sleek interface, Exodus is available on both desktop and mobile, offering a built-in exchange for easy crypto swaps. Its support for numerous cryptocurrencies and optional hardware wallet integration make it an attractive choice for users seeking both ease of use and enhanced security.
- MetaMask: Popular for managing Ethereum and ERC-20 tokens, MetaMask operates as a browser extension and is essential for interacting with decentralized applications (DApps) and DeFi platforms.
When selecting a wallet, evaluate its security measures, supported assets, and ease of use. For optimal security, a combination of a hardware wallet for large, long-term holdings and a mobile or desktop wallet for daily transactions offers a good balance between convenience and protection. Ensure your chosen wallet is compatible with exchanges in Chile for seamless transactions.
Bottom Line
For Chilean investors seeking the best crypto exchanges in Chile, Binance and Coinbase stand out as top choices. Binance offers a vast selection of cryptocurrencies and competitive fees, ideal for experienced traders. Coinbase provides a user-friendly platform suitable for beginners, with robust security measures. Both exchanges support Chilean peso transactions, facilitating easy entry into the crypto market for local investors. Always conduct thorough research and consider your individual needs when selecting a platform for your cryptocurrency investments in Chile.
