Best Crypto Exchanges in Chile
Discover the best crypto exchanges in Chile, offering secure, user-friendly platforms for diverse cryptocurrency investments and regulation compliance.
Summary: In Chile, the best approach for investing in Bitcoin and cryptocurrencies involves utilizing platforms that adhere to regulations established by the Chilean Financial Market Commission. These approved exchanges facilitate the addition of funds in Chilean Pesos (CLP) through domestic bank transfers, online payment services, and credit or debit cards.
To assist you in navigating the cryptocurrency market with confidence, we have analyzed and identified the top 5 exchanges accessible to residents of Chile. These platforms are recognized as the most dependable choices for investors within the region.
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Best Cryptocurrency Exchanges in Chile
After conducting an in-depth review of more than 15 cryptocurrency exchanges, we've identified the top platforms for Chilean investors. Our selection criteria focused on essential factors, including compliance with the Chilean Financial Market Commission (CMF) regulations, a broad selection of digital currencies, user-friendly interfaces, various methods for depositing Chilean Pesos, competitive transaction fees, and other key considerations.
1. Bybit
Bybit has emerged as a premier cryptocurrency exchange in Chile, providing an invaluable platform for local investors. This exchange caters to a wide spectrum of users, from novices to seasoned traders, thanks to its user-friendly interface. Featuring over 1,000 digital assets, Bybit stands out in the cryptocurrency landscape. It ensures secure transactions through its trusted and regulated platform and supports seamless Chilean Peso (CLP) deposits.
Distinguishing itself with an extensive array of cryptocurrencies, staking services and futures contracts, Bybit offers up to 100 leverage and boasts high liquidity, making it an adaptable option for diverse investment approaches. Its competitive fee structure, with a maker fee of 0.01% and a taker fee of 0.06%, coupled with a global user base of over 20 million, highlights its reliability and effectiveness in the crypto market.
- Fees: Maker fee at 0.01% and taker fee at 0.06%.
- Supported Cryptocurrencies: Provides access to over 1,000 digital assets.
- Regulation & Licensing: Complies with international regulatory standards, ensuring its operation's effectiveness in Chile.
- CLP Deposit Methods: Features bank transfers, electronic payments, credit/debit cards, among other local option
2. MEXC
MEXC secures its position as the second-best choice for Chilean cryptocurrency enthusiasts, showcasing an impressive portfolio of over 300 crypto assets and offering high-leverage futures trading, with leverage up to 200x. This feature particularly benefits traders with advanced experience. Licensed in Estonia and headquartered in Seychelles, MEXC adheres to rigorous regulatory standards, providing a trustworthy trading environment.
In Chile, MEXC meets diverse trading demands through a range of services, including spot and margin trading, staking, and Initial Exchange Offerings (IEOs). Its ability to manage over $2 billion in daily trading volume reflects a solid commitment to market adaptability and user security. MEXC's comprehensive trading options, attractive fee schedule, and dedication to enhancing the user experience solidify its standing as a top choice for traders.
- Fees: Offers competitive maker fees from 0.020% to 0.060% and taker fees between 0.060% and 0.080%.
- Supported Assets: Boasts a wide selection of over 300 cryptocurrencies, covering major assets and various altcoins.
- Regulation & Licensing: Maintains an Estonian license and operates from Seychelles, ensuring a robust regulatory framework for users.
- CLP Deposit Methods: Provides a variety of deposit options including bank transfers, debit, and credit cards.
3. Gate.io
As the third-best cryptocurrency exchange, Gate.io is a standout choice, particularly for those interested in exploring a wide variety of altcoins. Although not directly regulated by the Chilean Financial Market Commission (CMF), it remains accessible to investors within Chile. The platform is noted for its broad selection of over 1,700 cryptocurrencies, catering to traders who seek diversity in their digital asset portfolios.
Gate.io is recognized for its significant 24-hour trading volume, frequently surpassing $5 billion, and a substantial global user base of over 14 million. This global prominence is supported by features such as automated trading bots and a specialized section for startups, presenting unique market opportunities. This includes exclusive trading events and competitions, designed to capture the interest of traders.
- Fees: Gate.io maintains competitive trading fees, beginning at 0.1% for maker orders and 0.2% for taker orders.
- Supported Assets: The platform features an expansive collection of over 1,700 digital assets.
- Regulation & Licensing: Situated in the Seychelles, Gate.io is not directly licensed by the CMF but is open to investors in Chile.
- CLP Deposit Methods: Gate.io accommodates a variety of deposit methods, including bank transfers, debit cards, credit cards, and others.
4. Kraken
Kraken firmly establishes itself as the fourth-best cryptocurrency exchange in Chile, boasting a worldwide customer base of over 9 million users across 190 countries. The exchange reports an impressive $207 billion in quarterly trading volume. Chileans can begin trading with a minimal deposit of just $10, accessing a diverse array of over 200 cryptocurrencies, including Bitcoin, Ethereum, Celestia, and Solana, encompassing established and emerging digital assets.
The exchange is committed to user convenience, offering several CLP-compatible payment methods, including bank transfers and credit cards. Kraken's user-first approach is further demonstrated through its mobile applications for iOS and Android, alongside specialized staking services offering up to 24% annual returns. For more experienced traders, Kraken Pro provides a professional trading environment with low spreads, high liquidity, and enhanced rate limits, all accessible via a dedicated mobile app.
- Fees: Maker fees are as low as 0.01%, with Taker fees at 0.02%.
- Supported Assets: Features over 200 spot markets and more than 100 margin markets.
- Regulation & Licensing: Officially recognized and compliant with international regulatory standards.
- CLP Deposit Methods: Includes bank transfers, electronic payment systems, and debit/credit cards.
5. Uphold
Uphold sets itself apart as a highly accessible and global cryptocurrency platform, serving over 150 countries with a user community exceeding 10 million. In Chile, it shines with a comprehensive portfolio of over 250 digital assets, offering a solid alternative for local investors. A significant draw of Uphold is its attractive staking options, enabling investors to earn up to 25% Annual Percentage Yield (APY) on a selection of up to 30 cryptocurrencies.
This platform is noted for its transparency and reliability. It adheres to European regulatory standards and is registered with prominent financial authorities globally. Uphold's dedication to security is evident in its audited proof-of-reserves, ensuring a 1:1 backing for each digital asset, reinforcing its status as a secure and transparent exchange. It also offers a smooth trading experience across web and mobile, offering mobile payment methods like Google Pay and Apple Pay for convenient transactions.
- Fees: Features a trading fee of 1% and a spread fee of 1%.
- Supported Assets: Offers a broad selection of over 250 digital assets, precious metals, and fiat currencies.
- Regulation & Licensing: Meets European regulations and operates in Chile.
- CLP Deposit Methods: Includes bank transfers, credit/debit cards, and mobile payments via Google Pay and Apple Pay.
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Is Crypto Regulated in Chile?
In Chile, the regulation of cryptocurrencies is in a formative stage, without a comprehensive statutory framework specifically governing digital currencies. However, the Central Bank of Chile's stance is that cryptocurrencies are not considered legal tender or foreign currency, yet they are widely used. The Supreme Court of Chile in 2018 recognized cryptocurrencies as "intangible assets," influencing their treatment under tax laws but not fully integrating them into the financial regulatory system. This scenario underscores a cautious yet evolving approach to cryptocurrency regulation, reflecting a careful balance between recognizing their utility and addressing associated risks.
The formal regulatory environment began to take shape with enacting the Fintech Law (Law No. 21.521) on January 4, 2023, which aims to promote financial innovation and inclusion. Under this law, crypto-assets are defined and regulated, with the Financial Market Commission (CMF) being the key authority overseeing the sector. The CMF's General Rule No. 502, issued on January 12, 2024, further specifies registration and authorization processes for crypto service providers, signifying a move towards structured oversight.
How is Crypto Taxed in Chile?
In Chile, cryptocurrency gains are taxed under the income tax framework, following the Servicio de Impuestos Internos (SII) guidelines. According to SII's rulings (No. 963/2018 and No. 1,474), profits from cryptocurrency sales are taxed, distinguishing these digital assets from legal tender or foreign currency. While exempt from the 19% Value Added Tax (VAT), cryptocurrency transactions must be accompanied by invoices and receipts. The tax rate on capital gains from cryptocurrencies aligns with general income taxation rates, ranging from 0.4% for lower income brackets to 35% for higher earnings.
For companies, the 2020 Tax Modernization Law set the corporate tax rate at 27%, with a reduced 25% rate for SMEs under a special regime. This comprehensive tax treatment illustrates Chile's structured approach to incorporating cryptocurrencies within its tax legislation, ensuring clarity and compliance for digital asset transactions.
Bottom Line
In conclusion, navigating the cryptocurrency market in Chile is made significantly more accessible and secure through regulated exchanges, which align with the Financial Market Commission's guidelines. Bybit, MEXC, Gate.io, Kraken, and Uphold have been identified as the top platforms for their compliance, diverse cryptocurrency offerings, and user-friendly experiences.
These exchanges not only provide a secure avenue for investing in digital assets but also ensure adherence to Chile's evolving regulatory and tax landscape, making them invaluable for both novice and experienced investors. This careful selection underscores the importance of regulatory compliance and diverse investment options in optimizing the cryptocurrency investment experience.
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