Best Crypto Exchanges in Mexico

Best Cryptocurrency Exchanges in Mexico

We reviewed 20 cryptocurrency trading platforms to find the best options for Mexican investors and traders. Our criteria focused on compliance with local financial regulations by the Tax Administration Service (SAT) and other relevant authorities, diversity of cryptocurrencies, user interface quality, supported MXN deposit methods, and fee structures. Below is a table highlighting the top exchanges in Mexico.

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1. Bybit

Bybit is the leading cryptocurrency exchange in Mexico, serving over 32 million users with a daily trading volume of $25 billion. It supports free MXN deposits and offers trading for over 1,200 cryptocurrencies on spot and futures markets with up to 100x leverage. Accessible in 160+ countries, Bybit provides multilingual support in Spanish and English, and features such as staking, lending, a crypto debit card, an NFT marketplace, copy trading, and demo accounts.

Bybit’s deposit methods include SPEI, bank transfers, credit/debit cards, Apple Pay, Google Pay, Mercadopago, Uala, and more. The platform also posts real-time proof of reserves updates to ensure all assets are held 1:1. Known for competitive fees, high liquidity, and robust security, Bybit is a top choice for cryptocurrency investors in Mexico.

• Fees: 0.1% for spot trading, 0.01% maker or 0.06% taker fees for derivatives.
• Supported Cryptocurrencies: Over 1,200 cryptocurrencies.
• Regulation & Licensing: Globally licensed and accessible in Mexico.‍
• MXN Deposit Methods: SPEI, Bank Transfer, Credit/Debit Card, Apple Pay, Google Pay, Mercadopago and more.

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2. eToro

eToro is a globally regulated multi-asset exchange, operating since 2007, offering access to over 4,500 financial instruments. This includes major cryptocurrencies like Bitcoin and Ethereum, digital asset stocks such as Coinbase and Microstrategy, and ETFs like the BlackRock Bitcoin ETF. This diversity allows Mexican investors to diversify their portfolios on a single, licensed platform.

Highly regarded in Mexico, eToro is known for its intuitive interface and versatile deposit options in Mexican Pesos (MXN). It supports payment methods including bank transfers and credit/debit cards, catering to Mexican investors' preferences. With no initial commissions and competitive spreads, eToro is an attractive choice for broadening investment horizons.

• Fees: Variable spread fee structure, typically around 1%.
• Supported Assets: Over 4,500 assets, including cryptocurrencies, stocks, and ETFs.
• Regulation & Licensing: Registered with top-tier regulators such as AMF, CySEC, OAM, and available in Mexico.‍
• MXN Deposit Methods: Bank transfers, debit cards, and credit cards.

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3. Gate.io

Gate.io offers one of the largest collections of cryptocurrencies globally, supporting over 2,100 tokens. This wide range is particularly appealing to Mexican investors interested in altcoins, memecoins, GameFi tokens, and other emerging assets. The platform's competitive transaction fees, starting at 0.1% for spot trades, and its Spanish-language interface enhance its appeal in the Mexican market.

With over 14 million users and daily trading volumes exceeding $8 billion, Gate.io holds a strong international presence. It caters to Mexican traders with features like automated trading bots, demo accounts, and copy trading. Gate.io also hosts unique trading events and competitions, which resonate well with its Mexican user base.

• Fees: 0.1% for maker and 0.2% for taker orders on spot markets.
• Supported Cryptocurrencies: Over 2,100 digital assets.
• Regulation & Licensing: Not directly licensed in Mexico but available to Mexican users.‍
• MXN Deposit Methods: Bank transfers and credit/debit cards

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4. Binance

Binance is the world’s largest crypto exchange, serving over 180 million trades across 150 countries. It offers diverse trading options, including spot, futures, margin, and options markets, with leverage up to 50x. Additionally, Binance provides staking services and operates a decentralized exchange. The platform ensures 24/7 customer support in multiple languages, including Spanish and English.

In Mexico, Binance operates under Bmex Techfin, S. de R.L. de C.V., registered with the Tax Administration Service (SAT) for Vulnerable Activity. This allows Binance to offer virtual asset services in Mexico while adhering to SAT's anti-money laundering and counter-terrorist financing regulations. Binance's high liquidity and significant trading volumes attract both individual and institutional investors.

• Fees: 0.1% for spot trading; futures maker/taker fees of 0.02%/0.06%.
• Supported Cryptocurrencies: More than 350 digital assets.
• Regulation & Licensing: Operates under SAT regulation in Mexico, complying with AML/TF requirements.‍
• MXN Deposit Methods: Bank transfers, credit cards, and Google Pay.

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5. Bitso

Bitso is the most popular local cryptocurrency exchange in Mexico, headquartered in Mexico City. It offers a selection of 50 crypto assets, including popular cryptocurrencies like Bitcoin and Ethereum. Bitso is accessible via desktop and a user-friendly mobile app, simplifying the process of investing, trading, and transferring cryptocurrencies.

The platform features automatic orders and scheduled buying, supporting both short-term and long-term trading strategies. Bitso facilitates low-cost cross-border payments throughout Latin America, using local currencies. However, it does not currently offer staking services, crypto loans, or NFT access.

• Fees: Flat 1% fee on all trades.
• Supported Cryptocurrencies: Supports 50 cryptocurrencies.
• Regulation & Licensing: Licensed by the SAT in Mexico.‍
• MXN Deposit Methods: Bank transfers, debit cards, and SPEI.

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Is Crypto Regulated in Mexico?

Cryptocurrency in Mexico is regulated under the FinTech Law, which defines virtual assets and sets guidelines for their purchase, sale, custody, and transfer. Financial entities like banks and Financial Technology Institutions (FTIs) must obtain authorization from the National Banking and Securities Commission (NBSC) and the Ministry of Finance and Public Credit (MFPC) to operate with virtual assets, adhering to anti-money laundering (AML) and counter-terrorist financing (CTF) regulations.

Non-financial entities involved in virtual asset transactions are governed by the Anti-Money Laundering Law and must register with the Tax Administration Service (SAT). These entities have stringent reporting requirements to prevent money laundering and terrorist financing. 

While Banxico restricts direct transactions with virtual assets by financial institutions, the FinTech Law outlines a framework for potential future operations under strict regulatory oversight.

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Is Cryptocurrency Taxed in Mexico?

Yes, cryptocurrency transactions are taxed in Mexico under the Income Tax Law (ITL) and the Value-Added Tax Law. Profits from cryptocurrency transactions are subject to income tax, with rates up to 35% for individuals and 30% for legal entities. A 16% value-added tax (VAT) also applies to transactions involving goods and services, including those paid with cryptocurrencies.

The Taxpayers' Defense Office treats profits from digital asset sales as the sale of goods. Transactions exceeding approximately US$13,324 require withholding and provisional income tax payments, with the purchaser responsible for a 20% tax payment to the Tax Administration Service (SAT). Sellers must report this income in their annual tax return, allowing for deductions of acquisition costs and commissions.

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How to Buy Bitcoin in Mexico

If you're new to cryptocurrency investment in Mexico, understanding the steps to purchase Bitcoin through a local exchange is crucial. Follow this guide to get started:

1. Create an Account: Choose a reputable Mexican exchange and sign up. Complete the verification with a photo ID and, if required, a selfie or proof of address.
2. Deposit Mexican Pesos (MXN): Go to the deposit section, select MXN, and enter the amount to transfer. Use a bank transfer, SPEI, debit card, or credit card to complete the transaction.
3. Choose Bitcoin: In the trading section, search for Bitcoin (BTC). Select the MXN/BTC trading pair to view the current rate. Choose between market and limit orders.
4. Execute the Trade: Click 'buy' or 'trade' to purchase Bitcoin. Enter the amount of Bitcoin or the MXN you want to spend. Review the order details, including price and fees, and execute the trade.

This guide provides clear steps for buying Bitcoin in Mexico, from account setup to trade execution.

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Bottom Line

Mexican investors trading Bitcoin and other cryptocurrencies should use exchanges regulated under the FinTech Law and compliant with SAT. Top platforms like Bybit, eToro, Gate.io, Binance, and Bitso meet these criteria, offering diverse crypto options and secure trading environments. Following local regulations ensures safe and efficient trading. New investors can start confidently with these recommended exchanges.