Top Crypto Trading Platforms in Mexico

Our team of Crypto experts has completed a comprehensive evaluation of 40 different digital asset exchanges and has found the five best Crypto trading platforms for Mexican investors. They have been ranked by comparing multiple factors which include how secure they are, what features they offer, how many MXN deposit methods they support, and more.

Continue reading to learn about the Five Best Crypto Exchanges in Mexico.


‍1. Bybit

Bybit is the best option for Mexican investors for several reasons, the first is the platform can be used in Spanish and offers 24/7 Spanish customer support. Another reason is Bybit does not require KYC (identity verification), which is ideal for investors who want to remain anonymous and prioritize their privacy. Additionally, it offers the lowest trading and deposit fees out of any exchange globally and frequently offers fee promotions where you can trade with virtually zero fees. Lastly, it is a feature-rich platform that offers a wide range of products and services.

  • Fees: MXN & Crypto deposits and withdrawals are free. The spot trading fee is 0.1% and the futures maker/taker rebate is 0.01%/0.06%.
  • Supported Assets: Buy and sell 400+ Cryptocurrencies, and stake 200+ tokens.
  • Regulation & Licensing: Not regulated by any government authority (hence no KYC requirements), but does provide proof of reserves.
  • Customer Support Options: 24/7 Spanish-speaking customer support via live chat, email, and Social Media Communities.
  • MXN Deposit Methods: Bank Transfer, SPEI, Credit/Debit Card, BBVA, STP, Mercadopago, Citibanamex & 10+ more.
Bybit

To learn more about this platform and its features, visit our detailed Bybit Review.

2. Bitso

Bitso is considered the best Mexican Crypto exchange and is the largest one by user base (over 5 million registered users) and market capitalization. Not only does it offer services to Mexican residents but also supports other South American countries such as Colombia, Argentina, and Brazil. Although it is based in Mexico, it does not offer as many tokens or MXN deposit methods as Bybit. The only benefit of Bitso is that it offers phone support, apart from that, it doesn't offer much and charges significantly higher fees than other platforms on this list.

  • Fees: MXN deposits and withdrawals are free, but Crypto deposits and withdrawals incur a small fee to cover the cost of gas. The trading maker/taker rebate is 0.5%/0.65%.
  • Supported Assets: Buy and sell 40 Cryptocurrencies and stake 3 tokens.
  • Regulation & Licensing: Not regulated but authorized by the Mexican Financial authorities.
  • Customer Support Options: 24/7 Spanish-speaking customer support via live chat, email, phone, and social media including Telegram, Twitter, Facebook & Instagram.
  • MXN Deposit Methods: Bank Transfer (SPEI).
Bitso

3. OKX

OKX is another great Crypto exchange for Mexican investors that also offers 24/7 Spanish-speaking support and the option to use the platform in Spanish. It is a global exchange that is based in Hong Kong but offers services to 180+ countries including Mexico. OKX is a centralized exchange but focuses on many DeFi products and even supports its own network, OKX Chain. Additionally, it has its own Web3 wallet, native bridging protocol, NFT marketplace, on-chain staking, among other DeFi products.

  • Fees: MXN deposits and withdrawals have a spread of 1%. The spot trading fee is 0.1% fee and the futures maker/taker rebate is 0.02%/0.05%.
  • Supported Assets: Buy and sell 240+ Cryptocurrencies and stake 100+ tokens.
  • Regulation & Licensing: Licensed in Malta and provides proof of reserves.
  • Customer Support Options: 24/7 Spanish-speaking customer support via live chat, email, and Social Media Communities.
  • MXN Deposit Methods: Apple Pay, Google Pay, SPEI, Credit/Debit Card & STP.
OKX

To learn more about this platform and its features, visit our detailed OKX Review.

4. Binance

Binance is the most famous and popular Cryptocurrency exchange in the world that boasts over 120 million registered users in 100+ countries including Mexico. It offers a vast array of features such as lending and borrowing services (loans), several Crypto staking options, a Cryptocurrency card, NFT Marketplace, multiple trading types (spot, futures, options) and more. Although it provides many products and services, where it may lack is its transparency. Binance is one of the few exchanges that does not show proof of reserves, which is concerning after the FTX incident.

  • Fees: MXN deposits and withdrawals vary between 0% - 3% depending on the method. The spot trading fee is 0.1% and the futures maker/taker rebate is 0.02%/0.05%.
  • Supported Assets: Buy and sell 300+ Cryptocurrencies, and stake over 100 tokens.
  • Regulation & Licensing: Not regulated or licensed in Mexico.
  • Customer Support Options: 24/7 Spanish-speaking customer support via live chat, email, and Social Media Communities.
  • MXN Deposit Methods: Bank Transfer (SPEI), Credit/Debit Card, BBVA, STP & 10+ more.
Binance

To learn more about this platform and its features, visit our ‍Binance Review.

5. KuCoin

KuCoin is another Non-KYC exchange and the only one that is accessible from any country in the world. However, it's important to note that KuCoin is the least secure platform on this list and was hacked in 2020 for $40 million, but did reimburse all of its customer's funds. It has since implemented security measures to prevent another cyber attack. KuCoin is the most popular platform for investing in new altcoins, meme coins, dog coins, Metaverse coins, and so on. It is always the first to list new tokens that you can generally only find on decentralized exchanges.

  • Fees: MXN deposits and withdrawals are free. The spot trading fee is 0.2% fee and the futures maker/taker rebate is 0.02%/0.06%.
  • Supported Assets: Buy and sell 600+ Cryptocurrencies, and stake over 150 tokens.
  • Regulation & Licensing: Unregulated hence no KYC requirements.
  • Customer Support Options: 24/7 (Non-Spanish) customer support via live chat, email, and Spanish-speaking support via its Social Media Communities.
  • MXN Deposit Methods: Credit/Debit Card, BBVA & Apple Pay.
KuCoin.

To learn more about this platform and its features, visit our detailed KuCoin Review.

Can I legally buy Cryptocurrencies in Mexico?

Yes, it is completely legal to invest in Cryptocurrencies in Mexico. While the Mexican government does not recognize Cryptocurrency as legal tender, they are considered to be a legitimate asset class for investment purposes. The government has taken a relatively open approach to digital assets, allowing individuals and businesses to buy and sell Crypto through registered exchanges.

Additionally, Mexico has become a hub for Cryptocurrency trading in Latin America, with several established platforms operating in the country such as Bitso, a native Mexican exchange. The Mexican government has also launched initiatives to promote financial inclusion through the use of digital currencies, such as the development of a digital peso, which plans to be launched in 2024.

Is Crypto Taxed in Mexico?

Y‍es, Cryptocurrencies are taxed in Mexico and the tax rate will vary depending on the type of transaction you have made and your income level. For example, individuals who earn a higher income from Cryptocurrency trading may be subject to a higher tax rate. If an individual or business in Mexico buys or sells digital assets, they are required to report these transactions on their tax return. If these transactions are not reported, you may face legal repercussions.

In addition to income tax, there are other taxes that may apply to your Crypto transactions. For example, if an individual or business sells a Cryptocurrency for a profit, they may be subject to capital gains tax. This tax applies to the difference between the purchase price and the selling price of the asset. The rate of capital gains tax varies depending on the length of time the individual or business held the Cryptocurrency for.

Bottom Line

To summarise, investing in Cryptocurrencies is 100% legal in Mexico, and the country has become a hub for Cryptocurrency trading in Latin America. Our team has provided a comprehensive overview of where to find the five best Cryptocurrency exchanges in Mexico, which we have ranked based on several factors, including security, features, fees, and more.

Mexican investors can choose from a range of options, including Bybit, Bitso, OKX, Binance, and KuCoin, each with its unique benefits and drawbacks. However, for the best overall trading experience, we recommend sticking with the Bybit exchange. It offers the lowest fees, the best security, the widest range of features, and much more.