Best Crypto Exchanges in Brazil

Best Cryptocurrency Exchanges in Brazil

Following a detailed evaluation of over 15 cryptocurrency exchanges, our team has discovered the best platforms for Brazilian investors. We selected options that prioritize compliance with Brazil's Securities and Exchange Commission (CVM) regulations, offer a wide range of cryptocurrencies, support Brazilian Real (BRL) deposit options, and have reasonable fees. Review the table below for a detailed overview of our top 5 picks in Brazil.

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1. Bybit

Bybit is a top cryptocurrency exchange for Brazilian investors, offering quick sign-up and multilingual support, including Portuguese. Trusted by over 30 million users worldwide, it accepts various BRL deposit methods such as bank transfers, Boleto Bancário, Pix, Apple Pay, Google Pay, and credit or debit cards.

Primarily focused on derivatives trading, Bybit offers leverage options up to 100x across a broad range of over 1,100 crypto assets. With a daily trading volume exceeding $15 billion, the platform provides users with high liquidity. Beyond trading, Bybit also offers staking, lending, and borrowing services, allowing users to earn on their cryptocurrency holdings.

• Fees: Derivatives trading has a maker fee of 0.01% and a taker fee of 0.06%. Spot trading fees begin at 0.1%.
• Supported Cryptocurrencies: More than 1,100 different crypto assets.
• Regulation & Licensing: While Bybit holds international licenses, it is not currently authorized by the Brazilian Securities Commission (CVM).
• BRL Deposit Methods: Bank transfers, Boleto Bancário, Pix, debit cards, credit cards, and other e-wallet payment options are supported.

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2. Gate.io

Gate.io is the second best option, known for its expansive altcoin selection that provides Brazilian investors with access to over 1,700 cryptocurrencies. Its appeal in Brazil is enhanced by its low transaction fees, starting at only 0.1% for spot trades and a competitive maker/taker rebate that has a negative funding rate for users with high monthly trading volume. It has 10 million users in over 180 countries and provides live customer support in Portuguese.

It has a daily trading volume of over $5 billion, maintaining a strong global presence. The platform boosts its investment experience with features like automated trading bots, a demo account, copy trading services and leverage options up to 100x on select contracts. Gate.io also hosts exclusive trading events and competitions, aligning with the interests of its customers.

• Fees: Spot trading costs start from  0.1% for maker orders and 0.2% for taker orders.
• Supported Cryptocurrencies: Supports over 1,700 digital assets.
• Regulation & Licensing: Gate.io isn't directly licensed in Brazil but is available to Brazilian users.‍
• BRL Deposit Methods: Includes local bank transfers and debit or credit cards.

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3. MEXC

MEXC serves a global user base of 10 million across 170 countries, including Brazil, and provides an interface that is available in both English and Portuguese. It is a straightforward platform with a comprehensive selection of over 1,200 digital currencies, allowing users to diversify their portfolios. The exchange has some of the lowest fees in the industry, with spot trading costs starting from 0.05%, which is enticing for those just starting out in crypto.

It is dedicated to maintaining transparency and reliability, adhering strictly to international regulatory frameworks. It guarantees the security of digital assets through regular audits and proofs-of-reserves, ensuring a solid 1:1 backing for all user holdings. The platform also commits to an intuitive user interface, accessible through both web and mobile apps, making MEXC a top choice for beginners.

• Fees: MEXC employs a transparent fee model with a spot trading fee of 0.05% and varying spread fees based on market conditions.
• Supported Assets: Access over 1,200 digital currencies.
• Regulation & Licensing: MEXC follows international regulatory standards and is accessible in Brazil but does not hold a license from Brazilian financial authorities.
• BRL Deposit Methods: Supports a range of deposit methods, including debit and credit card, Google Pay, and bank ttransfers.

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4. Binance

Binance is the largest cryptocurrency exchange in the world, with over 180 million registered users in 100 countries. The platform supports more than 350 cryptocurrencies, which can be traded on spot, futures, and options markets with leverage of up to 20x. It also supports staking services and a decentralized exchange, allowing investors access to DeFi. Binance is committed to exceptional customer care, offering 24/7 support in several languages, including Portuguese.

One of Binance's key features is its outstanding liquidity depth, leading to high trading volumes across various digital assets. This is essential for smooth trade execution, even in large volumes, positioning it as a popular platform among Brazilian crypto traders and institutional investors.

• Fees: Spot trading fees are set at 0.1%, with the futures maker/taker rebate starting from 0.02%/0.06%.
• Supported Cryptocurrencies: Over 350 cryptocurrencies for trading.
• Regulation & Licensing: Binance is not licensed by Brazilian financial authorities but is accessible to users in Brazil.
• BRL Deposit Methods: Primarily includes bank transfer, Pix, or debit and credit cards.

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5. Mercado Bitcoin

Based in São Paulo, Mercado Bitcoin is the largest Brazilian exchange with an insightful understanding of the local market. It appeals to a broad client base of over 3.7 million users, offering the freedom to trade in an extensive range of over 200 assets, including cryptocurrencies, Digital Fixed Income, DeFi, NFTs, and FanTokens. It was also the first regional platform to be regulated by the Securities and Exchange Commission of Brazil (CVM).

The exchange is focused on its commitment to regulatory compliance in the country and has acquired all the licensing to operate securely, enhancing its trustworthiness among local investors. Mercado Bitcoin's approach to providing a familiar and transparent trading environment aligns with the needs of Brazilian investors seeking reliable services.

• Fees: The maker/taker fees start from 0.3%/0.7%, and the spreads are around 1%.
• Supported Assets: Over 200 assets including cryptocurrencies, digital fixed income, and various innovative products.
• Regulation & Licensing: Regulated by the CVM (Securities and Exchange Commission of Brazil).
• BRL Deposit Methods: Bank Transfer, Pix, TED, or DOC.

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Is Crypto Regulated in Brazil?

Cryptocurrency in Brazil is regulated under the Legal Framework for Virtual Assets, effective from June 20, 2023. This framework addresses the challenges digital assets pose, targeting fraud prevention and enhancing market security. It broadly includes cryptocurrencies, emphasizing the need for market transparency and security.

The Brazilian Central Bank (BCB) regulates the sector and oversees Virtual Asset Service Providers (VASPs). These providers, engaged in services like exchange, transfer, and custody of digital assets, must secure authorization from the BCB. The framework also involves the Brazilian Securities and Exchange Commission (CVM) for assets representing securities, highlighting the regulatory scope.

Additionally, the Legal Framework integrates the Consumer Protection Code into virtual asset operations and stipulates criminal penalties for fraud involving virtual assets. The Council of Financial Activities Control (COAF) plays a role in monitoring financial crimes related to virtual assets, solidifying the comprehensive regulatory approach.

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Is Crypto Taxed in Brazil?

The taxation of cryptocurrency gains in Brazil aligns with general rules for movable goods, as overseen by the Receita Federal do Brasil (RFB). Cryptocurrency holders are required to declare these assets in their income tax statements, with taxation on capital gains triggered only for gains exceeding BRL 35,000 per month. 

The applicable tax rates range from 15% for gains under BRL 5 million to 22.5% for gains over BRL 30 million. Additionally, the exchange of cryptocurrencies without converting to Brazilian Real (BRL) is subject to capital gains tax, based on the RFB's Query Solution No. 214/21, though this is subject to potential legislative changes.

Further facilitating crypto activities, the Chamber of Foreign Trade has reduced import duties to zero on cryptocurrency mining equipment and hardware wallets until December 31, 2025. Regarding inheritance, estate taxes on cryptocurrencies vary from 2% to 8%, depending on the state of the deceased's residence.

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How to Buy Bitcoin in Brazil

This guide offers a detailed roadmap for Brazilian investors to buy, sell, and trade Bitcoin and other cryptocurrencies. Considering Brazil's specific regulatory and financial environment, adhering to these steps is crucial for secure cryptocurrency transactions.

1. Create an Account: Register by providing your name and email address. Verify your identity with a photo ID, such as a driver's license or passport, to enable cryptocurrency transactions.
2. Deposit Funds in BRL: Navigate to the deposit section of your exchange account. Specify the amount of Brazilian Reais (BRL) to transfer and choose your payment method, options include bank transfers, Pix, credit cards, or debit cards. Check your platform’s fees and processing times for fund transfers.
3. Find Desired Cryptocurrency: Use the search function to locate Bitcoin or other cryptocurrencies. For example, enter "BTC" to find Bitcoin. Select the BRL/BTC pair and input your trade details.
4. Execute Trade: Click the 'buy' or 'trade' button to purchase the cryptocurrency. Specify the amount you wish to buy and complete the transaction.

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Bottom Line

For Brazilian investors, using CVM-compliant exchanges is crucial for secure and legal cryptocurrency trading. Options like Bybit, Gate.io, and Mercado Bitcoin offer varied benefits, from extensive crypto selections to low fees. By setting up an account, depositing BRL, and executing trades, Brazilian users can effectively engage in the cryptocurrency market, taking advantage of these trusted platforms for a smooth and reliable experience.