Summary
Guatemala maintains a neutral stance on cryptocurrencies, with no specific regulations prohibiting or endorsing their use. The Guatemalan Quetzal (GTQ) is supported by several crypto exchanges, with bank transfers and credit cards being the primary payment methods. The Superintendency of Banks of Guatemala (SIB) oversees financial activities but has not implemented specific crypto regulations. For traders seeking the best crypto exchanges in Guatemala, here are our top recommendations:
Best Crypto Exchanges in Guatemala
Guatemalan crypto traders require exchanges that support local payment methods and offer reliable trading services. The Guatemalan Quetzal (GTQ) can be used through bank transfers on several platforms, while international credit cards provide an alternative funding option. Security, trading fees, and available cryptocurrencies are critical factors for selecting an exchange in Guatemala.
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. MEXC
Users:
15m
Free Demo:
Mobile App:
Bonus
$20,000
Cryptos:
2400+
Leverage:
200x
Spot Fees:
0.02%
Futures Fees:
0%/0.02%
Pros
- Lowest Trading Fees
- 2000+ supported crypto assets
- 200x 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 200x 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.
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. BingX
Users:
23m
Free Demo:
Mobile App:
Bonus
$6,200
Cryptos:
840+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.06%
Pros
- No KYC required
- 800+ assets (even stocks and forex)
- Up to 200x leverage
- Fiat supported
- Advanced order types
Cons
- Not available in the US
- No bot trading
- Traditional markets are B-Book
Overview
Founded in 2018, BingX is a derivatives exchange based in Singapore. The exchange has risen to global standards and now has offices in other major regions such as the EU, Canada, Hong Kong, and others. BingX currently boasts a user base of 10 million registered customers worldwide and is present in over 100 countries.
With an easy-to-navigate platform, BingX offers users 800+ cryptocurrencies, stocks, and forex to trade, with a smooth interface for trading spot or futures. BingX currently has a daily trading volume of $489 million for spot and $7 billion for futures.
Users of BingX can trade with flexibility and benefit from sophisticated trading tools such as order books, charts, and market data.
Trading fees on BingX are very affordable, starting at 0.02% and 0.05% maker and taker for futures trading, and 0.1% maker and taker for spot trading.
5. CEX.io
Users:
6M
Free Demo:
Mobile App:
Bonus:
Upto 200 USDT
Cryptos:
193+
Leverage:
Not Supported
Spot Fees:
0.15%/0.25%
Futures Fees:
Not Supported
Pros
- Supports a wide variety of cryptocurrencies
- Offers crypto-collateralized loans
- User-friendly interface for easy navigation
- Provides earning opportunities through staking and savings
- CEX University is an excellent learning resource for beginners
Cons
- Lower liquidity compared to larger exchanges
- Limited advanced trading features for experienced traders
CEX.io Overview
CEX.io is a cryptocurrency exchange platform serving 6 million users globally. The exchange supports trading for 193+ cryptocurrencies, catering to a wide range of investors. CEX.io offers spot trading with fees of 0.15% for makers and 0.25% for takers. The platform provides a mobile app and a demo account for users to practice trading strategies.
CEX.io implements mandatory KYC procedures, enhancing security measures. The exchange offers crypto-collateralized loans and a free CEX.io card for crypto payments. Additionally, CEX.io provides earning opportunities and features CEX University, a learning resource for beginners.
Notable features include CeDeFi Swap, enabling seamless crypto swaps from Web3 wallets. However, CEX.io lacks futures trading and advanced trading options. The platform also faces challenges with low liquidity, which may impact trade execution for larger orders. Despite these limitations, CEX.io remains a user-friendly option for cryptocurrency trading and related services.
Is Crypto Legal and Regulated in Guatemala?
Cryptocurrency operates in a legal gray area in Guatemala. The Bank of Guatemala (Banguat) and the Superintendency of Banks (SIB) have not established specific regulations for cryptocurrency trading or ownership.
In 2021, the Bank of Guatemala issued a statement clarifying that cryptocurrencies are not legal tender in the country. However, this does not make them illegal. The lack of specific regulations means that cryptocurrency trading and ownership are technically permitted, but users operate without regulatory protections.
The Congress of Guatemala has discussed potential cryptocurrency regulations, but no concrete legislation has been passed. Financial institutions must comply with standard anti-money laundering (AML) and know-your-customer (KYC) requirements when handling crypto-related transactions.
Is Crypto Taxable in Guatemala?
Cryptocurrency taxation in Guatemala follows general income tax principles. The Superintendency of Tax Administration (SAT) considers crypto gains as income subject to taxation.
For individuals, cryptocurrency gains are typically taxed at the standard income tax rates:
– 5% for income up to GTQ 300,000
– 7% for income above GTQ 300,000
Business entities conducting cryptocurrency transactions must pay the standard corporate tax rate of 25% on their crypto-related profits. Mining operations are subject to business activity taxes and must register with the SAT.
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 Guatemala.
How to Buy Crypto in Guatemala
Guatemalan residents can purchase cryptocurrencies through international exchanges. Bybit offers a reliable platform with support for GTQ transactions and multiple payment methods.
- Select a Crypto Exchange: Ensure the exchange supports payment methods used in Guatemala and review KYC verification requirements.
- Complete Registration: Provide necessary documents to verify your identity.
- Fund Your Account: Add funds in GTQ through bank transfers or international credit cards.
- Choose Cryptocurrency: Pick from options like Bitcoin, Ethereum, or USDT.
- Execute Trade: Place an order at your preferred price.
- Secure Storage: Move your assets to a private wallet for added safety.
Local bank transfers generally complete in 1-3 business days, while credit card purchases are instant. Some exchanges offer P2P trading, facilitating direct transactions with other users in Guatemala.
Best Crypto Wallets in Guatemala
Guatemalan crypto users have access to several wallet options for secure storage. Hardware wallets provide the highest security for long-term holdings, while software wallets offer easy access for frequent trading.
Top hardware wallet options include:
- Ledger – Trusted for security and supports numerous coins
- Trezor – Easy-to-use with robust security features
Recommended software wallets:
- Trust Wallet – Mobile wallet with DeFi functionality
- Exodus – Desktop wallet with a built-in exchange
- MetaMask – Key for using Ethereum-based DeFi applications
Bottom Line
For traders seeking the best crypto exchanges in Guatemala, Bybit stands out with its comprehensive trading features and competitive fee structure. MEXC offers an extensive selection of cryptocurrencies with zero maker fees, making it an excellent alternative. Both platforms provide robust security measures and support multiple payment methods suitable for Guatemalan users.
