Best Crypto Exchanges in Chile

Summary: In Chile, the prime approach for purchasing and exchanging Bitcoin and other digital currencies is via a cryptocurrency exchange that aligns with the guidelines set by the Central Bank of Chile. Investors can utilize bank transfers, credit cards, or various alternative payment methods to deposit Chilean Pesos (CLP) and buy, hold, and trade cryptocurrencies in harmony with local legal requirements. 

Our team has analyzed the top 5 cryptocurrency platforms in Chile to help kickstart your journey into the digital currency market. These platforms represent the most trustworthy options available: 

1. Bybit - Best Overall Exchange in Chile
2. Binance - Best Platform for Institutional Investors
3. CryptoMKT - Best Chilean Crypto Exchange
4. Kraken - Best Exchange for Security and Regulation
5. KuCoin - Best Cryptocurrency Selection

Top Crypto Platforms in Chile 

After a thorough evaluation of more than 30 cryptocurrency exchanges, we have pinpointed the top trading platforms for Chilean investors. Our methodology considers critical factors such as compliance with the Central Bank of Chile's guidelines, the array of available digital currencies, the user experience, Chilean Peso deposit methods, transaction fees, and other criteria to provide an informed evaluation of these platforms.

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1. Bybit

Bybit takes is the best overall cryptocurrency exchange in Chile. The platform can be tailored to suit the needs of all investors with highly advanced trading tools and order types, plus basic fiat-to-crypto conversion services. Bybit is known for its multiple CLP deposit methods, 24/7 Spanish customer support, intuitive interface, lightning-fast transaction speeds, and highly competitive fees and free deposits.

Its perpetual futures contracts, which enable users to take leverage up to 100x, are a standout feature. In addition to trading, Bybit supports staking services where users can lock up their assets and earn a yield from the exchange for providing liquidity. It also provides crypto loans, which allows users to lend and borrow funds from each other to pay/receive a yield. With its commitment to innovation and a user-centric approach, Bybit has solidified itself as an industry leader in Chile.

• Fees: Maker orders 0.01% and taker orders 0.06% per trade. No deposit and withdrawal fees.
• Supported Cryptocurrencies: 400+ Cryptocurrencies.
• Regulation & Licensing: Globally licensed and trusted.
• Customer Support: Bybit provides 24/7 support in Spanish via live chat, email, ticketing system, phone, and online communities.
• CLP Deposit Methods: MACH, Tenpo, Bank transfer, Debit Card, Credit Card, PayPal, Apple Pay, Google Pay, and more.

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2. Binance

Coming in second is Binance, a global powerhouse renowned for being Chile's best platform for institutional investors. Binance’s comprehensive suite of services, which includes spot trading, derivatives, and even a launchpad for new tokens, makes it the perfect fit for institutional investors who seek a one-stop shop for their diverse investment needs. 

Its substantial liquidity and extensive market depth ensure that large orders can be executed seamlessly. Moreover, Binance’s API solutions are widely used by institutional traders for algorithmic trading, reinforcing its position as the go-to platform for sophisticated investors in Chile. The platform also provides an OTC desk for orders exceeding $100,000 USD, and traders will have access to a private account manager.

• Fees: Spot trading fee is set at 0.1%, while derivatives trading follows a maker/taker fee structure of 0.02%/0.04%. Deposit and withdrawal fees range between 0.5% to 1.8%. 
• Supported Cryptocurrencies: 350+ Cryptocurrencies. 
• Regulation & Licensing: Globally licensed and trusted. 
• Customer Support: Binance provides 24/7 Spanish-speaking customer support via live chat, email, and an online ticketing system for its users in Egypt. 
• CLP Deposit Methods: Bank Transfers, Credit Card, Debit Card, and more.

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3. CryptoMKT

At number three, CryptoMKT is considered the best Chilean crypto exchange. Being native to Chile, it's finely attuned to the local market and regulatory environment, translating into a seamless user trading experience. CryptoMKT supports trading in popular cryptocurrencies and offers a reliable fiat gateway for Chilean pesos. For maximum convenience, the platform supports various CLP deposit methods, including bank transfers and credit cards.
Moreover, the platform maintains strong ties with the local financial ecosystem, allowing for faster and more efficient transaction processing. Its tailored services and commitment to the Chilean market have earned it a coveted spot among local cryptocurrency enthusiasts. It also offers a robust trading platform with diverse crypto assets.

• Fees: 0.1% per trade, and deposit fees vary depending on the currency and method. All CLP deposits are free.
• Supported Cryptocurrencies: 50+ Cryptocurrencies. 
• Regulation & Licensing: Operates in accordance with Chilean legal standards. 
• Customer Support: CryptoMKT provides Spanish-speaking support via live chat, email, and phone. 
• CLP Deposit Methods: Bank transfer and Credit Card.

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4. Kraken 

Fourth in line is Kraken, renowned for being the best exchange in terms of security and regulation. Kraken's focus on regulatory compliance is commendable, and the platform engages with global regulators and undergoes independent audits, instilling confidence among its users. It has implemented security measures, including cold storage for funds, stringent verification processes, and two-factor authentication (2FA). 

Its spotless record and commitment to secure trading make it a favorite among those prioritizing safety and regulatory compliance in the Chilean market. The exchange can also be used entirely in Spanish and provides live customer support in the language.

• Fees: 0.16% for maker orders and 0.26% for taker orders. 
• Supported Cryptocurrencies: Over 50 crypto assets. 
• Regulation & Licensing: Complies with international regulatory standards. 
• Customer Support: 24/7 support is available through live chat and email. 
• CLP Deposit Methods: Bank transfer and credit card.

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5. KuCoin

Rounding out the top five is KuCoin, celebrated for offering the best selection of cryptocurrencies in Chile. With an impressive array of coins and tokens, including many altcoins and lesser-known cryptocurrencies, KuCoin is a treasure trove for altcoin and memecoin enthusiasts. Its user-friendly interface and low trading fees make it accessible for traders of all levels. 

Additionally, KuCoin’s constant updates and additions to its cryptocurrency lineup ensure that users can access the latest investment opportunities, making it an exciting and dynamic platform for the Chilean crypto community. It's renowned for listing emerging altcoins faster than many competitors, making it a preferred platform for users looking to diversify their portfolios. 

• Fees: 0.1% for trading fees and 0.1% - 3% for deposit fees, depending on the method.
• Supported Cryptocurrencies: 600+ Cryptocurrencies.
• Regulation & Licensing: Not regulated or licensed in any country and no KYC.
• Customer Support: 24/7 Spanish-speaking support is available through live chat and email. 
• CLP Deposit Methods: Bank transfer and credit card.

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Is Crypto Trading Legal in Chile?

Yes, buying and trading cryptocurrencies is legal in Chile. The Central Bank of Chile does not recognize cryptocurrencies as legal tender but does not prohibit their trade. The Chilean authorities have warned about the potential risks of digital currencies. Investors must perform due diligence and be aware of the inherent risks involved in cryptocurrency investments in Chile.

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Is Crypto Taxed in Chile?

In Chile, cryptocurrency gains are subject to income tax. The Chilean Internal Revenue Service has issued guidelines requiring taxpayers to report their cryptocurrency transactions and pay taxes on profits generated from digital asset trading.

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How to Buy Bitcoin or Crypto with CLP

For Chilean investors looking to venture into the crypto market by using CLP, follow these steps: 

1. Choose a compliant exchange: Opt for platforms that adhere to Chilean legal standards. 
2. Create and verify your account: Register with your email, create a password, and complete the KYC process by submitting identification and proof of residence documents. 
3. Fund your account with CLP: Deposit CLP through bank transfers or credit cards. 
4. Buy cryptocurrency: Select the cryptocurrency and volume, then confirm the transaction. 
5. Secure your investments: Transfer your cryptocurrencies to a private wallet for enhanced security.

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Bottom Line

In summary, purchasing and trading cryptocurrencies in Chile is legally permissible and facilitated by various reliable and trusted cryptocurrency exchanges. Bybit, Binance, CryptoMKT, Kraken, and KuCoin are the top 5 platforms for Chilean investors, offering diverse services, user-friendly platforms, and compliance with legal norms. It is imperative for investors to exercise caution and have a deep understanding of the potential risks associated with crypto investments.