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You'll need a Bitcoin wallet before you buy since some exchanges require one.
Don't have a wallet? Read our guide on the best Bitcoin & cryptocurrency wallets.
- Popular Exchanges to Buy Bitcoin & Crypto in Brazil
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Coinmama- Works in almost all countries
- Highest limits for buying bitcoins with a credit card
- Reliable and trusted broker
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eToro- Supports Bitcoin, Ethereum & 15 other coins
- Start trading fast; high limits
- Your capital is at risk.
We do not promote, endorse, or earn commissions from the trading of securities of any kind, including CFDs, however, eToro requires that we provide you with the following disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
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CEX.io- Support for many countries and regions
- SEPA & credit card supported
- Trusted exchange around since 2013
Coinmama Popular Buy Bitcoin Read Review
Coinmama allows customers in almost every country to buy bitcoin. They charge a 4.9%-5.9% (depends on volume) fee on each purchase.
Customers in Europe can also purchase bitcoins with SEPA transfer for a lower fee.
Want to buy using Coinmama? This step-by-step guide will show you how to use Coinmama.
We may receive compensation when you use Coinmama. Please visit Coinmama for its exact pricing terms.
- Works in almost all countries
- Highest limits for buying bitcoins with a credit card
- Reliable and trusted broker
- Some of the highest fees among credit/debit card bitcoin brokers
eToro Popular Buy Bitcoin Read Review
eToro is a trading platform and crypto exchange. It supports Bitcoin, Ethereum, Litecoin, Zcash and many other coins.
Deposits can be made quickly via bank transfer, SEPA, NETELLER, PayPal and more. It also offers unique features like copy trading.
Your capital is at risk. We do not promote, endorse, or earn commissions from the trading of securities of any kind, including CFDs, however, eToro requires that we provide you with the following disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
We may receive compensation when you use eToro. Please visit eToro for its exact pricing terms.
- Offers unique copy trading feature
- Trusted echange that has been active in traditional finance
- Interface is clean and easy to use
- You cannot deposit cryptocurrency, but you can deposit with other payment methods
CEX.io Buy Bitcoin Read Review
CEX.io lets you buy bitcoin with a credit card, ACH bank transfer, SEPA transfer, cash, or AstroPay. Purchases made with a credit card give you access to your bitcoin immediately. CEX.io works in the United States, Europe, and certain countries in South America.
We may receive compensation when you use CEX.io. Please visit CEX.io for its exact pricing terms.
- Support for many countries and regions
- Low 0.2% trading fee
- Established and trusted exchange
- Verification process is extensive, requiring much personal information (including a photo) and incurring a long delay
- GBP market lacks liquidity
Bitpanda Popular Buy Bitcoin Read Review
Bitpanda is a Bitcoin broker based in Europe.
They have high payment limits and low fees across their wide range of payment methods.
Bitpanda offers customers the option to buy bitcoins with credit card, debit card, SOFORT, Skrill, NETELLER, giropay, eps, SEPA, and Online Bank Transfer.
Our guide will show you how to buy bitcoins with a credit card on Bitpanda.
We may receive compensation when you use Bitpanda. Please visit Bitpanda for its exact pricing terms.
- Some of the lowest fees for buying bitcoins with credit/debit card
- Reliable and trusted broker
- Fees aren't shown openly on the site but instead included in the buying price
Kraken Buy Bitcoin Read Review
Founded mid-2011, Kraken is the one of the world's largest cryptocurrency exchanges, and the largest in Europe based on daily average trading volume. It is available in almost all countries. Deposits can be made via bank wire, SEPA, ACH and SWIFT.
- Very low 0.25% taker fee, falling to 0.1% with sufficient trading volume
- Very low maker fee, falling to 0% with sufficient trading volume
- Highly-rated for security and data protection
- Requires ID verification, so not private
LocalBitcoins Popular Buy Bitcoin Read Review
LocalBitcoins is an escrow service which also helps to match bitcoin buyers and sellers. Users may advertise trades for whichever payment method they prefer.
Buying bitcoins via an in-person meeting, secured and facilitated by LocalBitcoins, may be one of the fastest and most private ways to buy bitcoins in any country, including the United States, Europe (besides Germany), UK, Singapore, Canada, Australia and many more.
We may receive compensation when you use LocalBitcoins. Please visit LocalBitcoins for its exact pricing terms.
- Can be private, fast and easy
- In-person trades require no personal information
- Purchases of bitcoin can be made quickly via cash deposit
- Beware of scams; always follow the rules!
- Harder to buy large amounts of bitcoins compared to large exchanges
- Slightly to significantly higher prices than regular exchanges; premium for higher privacy
Airtm Popular Buy Bitcoin
Airtm offers a peer community. You can buy and sell dollars or crypto in exchange for other forms of value. The platform provides trust and transparency by authenticating users and establishing a higher degree of identity validation to the peers who facilitate the transactions. Airtm provides an escrow system, so that value exchanges are fair and are completed as agreed.
- Many payment methods available
- Low fees for South American countries
- Not private since identity verification is required
Bitex Popular Buy Bitcoin
Bitex.la is a Bitcoin exchange and broker which services many South American countries, including Brazil, Mexico, Argentina, Chile, Peru and Uruguay. You can fund your exchange account with cash or AstroPay.
- Many payment methods available
- Low fees for South American countries
- Bitex brokers the sale of large amounts of bitcoin
- Not private since identity verification is required
Ripio Buy Bitcoin
Ripio is a Bitcoin platform based in Argentina. Ripio accepts bank transfers from Argentina or Brazil. Ripio also accepts cash payments from over 8,000 convenience stores across Argentina, via Easy Payment or Rapipago. It's quick, secure, and easy to use.
- Fast way to buy bitcoins in Argentina
- A few payment methods available
- Low 0.5 fee
- Bank transfer option is not private since identity verification is required
SatoshiTango Buy Bitcoin
SatoshiTango is a South American Bitcoin exchange. Users in Brazil, Colombia, Chile, Peru, Uruguay, Argentina, Costa Rica, Ecuador, El Salvador, Honduras, Panama and Nicaragua can use SatoshiTango to buy bitcoin.
Payment methods include bank transfer, bank wire, cash deposit in Buenos Aires or through a coupons from PagoFacil, RapiPago, BaproPagos, CobroExpress or ProvinciaPagos.
- One of the best ways to buy bitcoins in the countries it covers
- Allows for the payment of utility bills and the purchase of airtime with bitcoin
- Not private since identity verification is required
- Due to regulations, a separate account is needed for each fiat currency SatoshiTango accepts; USD, EUR and ARS
Mercado Bitcoin Buy Bitcoin
Mercado Bitcoin is the largest Bitcoin exchange in Brazil and South America. Without verifying, you can buy bitcoin using cash deposits. After verification, you can also fund your account with online bank transfers, which incur no deposit fee. Mercado Bitcoin offers some of the best liquidity in Brazil, meaning you should get the fair market price when buying bitcoins.
- Deep liquidity promotes a price close to fair market rate
- Very popular with over 100,000 clients
- Not private since identity verification is required to exceed daily limits or use bank transfers
FOXBIT Buy Bitcoin
FOXBIT is a Bitcoin exchange based in Brazil. You can buy bitcoin online with bank transfers and no deposit fees. FOXBIT offers some of the best liquidity in Brazil, meaning you should get the fair market price when buying bitcoins.
- Deep liquidity promotes a price close to fair market rate
- Fast deposits and withdrawls; should only take 1 minute to confirm
- Signup bonus
- Not private since identity verification is required
FlowBTC Buy Bitcoin
FlowBTC is a Bitcoin exchange based in Brazil. You can fund your account online via bank transfer.
- Ability to purchase bitcoins relatively quickly; express deposits can clear the same day
- Low 0.35% fees
- Low 0.5% deposit fee
- Not private since identity verification is required
Bitcoin To You Popular Buy Bitcoin
Bitcoin To You was the first Bitcoin broker to be established in Brazil, in 2013. You can buy bitcoins online from them in less than 10 minutes. You simply create an account and make a deposit via online bank transfer.
- Super quick way to purchase bitcoins
- Established and trusted broker
- Low trade fees of 0.6% for market takers and 0.25% for market makers
- Reasonable 1.89% bank deposit fee
- Not private since identity verification is required
- Offers a web wallet but this is not ideal for bitcoin storage
- Not available on Sundays or during the week before 8 AM and after 8 PM
BitCambio Buy Bitcoin
BitCambio is another Bitcoin exchange based in Brazil. You can make a deposit online via bank transfer. Fees vary depending on your trading volume.
- Can achieve low fees with high trading volume
- Account with 4 major Brazilian banks for fast and cheap inter-bank transfers
- Not private since identity verification is required
- Initial limit of R$30,000 but this can be raised by doing more trades
Bitcoin ATMs Buy Bitcoin
You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%.
- Our map makes it super easy to find a Bitcoin ATM near you
- Bitcoin ATMs often have 5-10% fees per purchase
Bitit Buy Bitcoin Read Review
Bitit lets you purchase bitcoin online with a 3DS-enabled credit/debit cards or with cash via Neosurf, Flexepin (coming soon) and Cashlib vouchers, available in over 150,000 local stores across Europe.
We may receive compensation when you use Bitit. Please visit Bitit for its exact pricing terms.
- Unique way of purchasing offers extra privacy over other methods
- 8% Neosurf fee is slightly better than Coinhouse's 10%
- Available in 50 countries
- €10,000 initial weekly Neosurf cash payment limit
- Bitcoin gift cards also available; more expensive than other options
- In-person buying methods offer more privacy but can be confusing
- Identity verification required for buying amounts over €25
- €500 initial weekly credit/debit card limit
Mycelium Local Trader Buy Bitcoin
Mycelium Local Trader helps you find local Bitcoin sellers. Once you locate a seller, you meet up in-person and conduct the trade. Mycelium charges absolutely no fees. While Mycelium Local Trader works great in highly-populated areas, users in low population areas will have trouble finding sellers.
- Easy and cheap way to buy bitcoins with cash
- Private way to buy bitcoins, no personal information required beyond cellphone number
- Users in sparsely populated areas will have trouble finding sellers
The State of Bitcoin in Brazil
Bitcoin is extremely popular in Brazil. In fact, the number of Bitcoin investors in the South American nation had surpassed those investing in the stock market in January 2018. That wasn’t surprising as Bitcoin trading volume was as high as $846 million in December 2017 thanks to the rapid rise in the value of the cryptocurrency.
But despite the massive popularity of Bitcoin in the country, the Brazilian government didn’t interfere much in the cryptocurrency ecosystem and didn’t introduce a regulatory framework, until recently. Brazil’s tax regulatory authority, the Department of Federal Revenue of Brazil (RFB), published its draft regulations on cryptocurrency taxation in November last year. Let’s see what they mean for the country’s Bitcoin scenario.
The Regulatory Environment
According to the RFB’s draft report, Brazilian cryptocurrency exchanges will now have to send a detailed overview of their crypto operations every month, including the transaction amounts and customer identities. At the same time, those individuals and firms who are residents of Brazil will have to report those transactions that are conducted with foreign cryptocurrency exchanges in excess of $2,700 per month (or 10,000 Brazilian reals).
Moreover, those investors who fail to report their transactions will be fined. Additionally, those delaying a tax declaration will end up paying a $400 (or 1,500 Brazilian reals) fine, with the potential for an addition fine of 3% of the transaction value if insufficient information has been provided.
Now, Brazil taxes the purchase and sale of cryptocurrencies such as Bitcoin as goods, and they are subject to income tax at rates between 15% and 22% based on the gains. But beyond this, there isn’t much clarity about the legal status of Bitcoin in Brazil, which is proving to be a hindrance for cryptocurrency exchanges.
In fact, a study in mid-2018 revealed that 88% of Brazilian cryptocurrency exchanges are in favor of regulations. That’s not surprising as the lack of regulation and clarity about the status of Bitcoin has created a rift between cryptocurrency exchanges and banks in Brazil. A clutch of major Brazilian banks were under investigation by the country’s Administrative Council for Economic Defense (CADE) last year as they had reportedly shut down accounts belonging to cryptocurrency traders as well as brokerages.
The banks, however, have denied of a move to prohibit market access for cryptocurrency brokerages, instead claiming that the accounts were shut down due to the absence of certain information related to anti-money laundering (AML). This makes it clear why the government needs to step in and create a favorable regulatory environment for Bitcoin innovation given the massive adoption of the cryptocurrency in Brazil.
In fact, the largest investment bank in Brazil, Banco BTG Pactual, has announced that it will be entering the cryptocurrency ecosystem with a digital token of its own. However, other smaller crypto start-ups will need the assistance of the country’s national banking structure in order to thrive; otherwise the unregulated nature of the Bitcoin market in the country will hurt adoption.
Buying and Selling Bitcoin in Brazil
There are several exchanges from where investors can buy Bitcoin in Brazil. Ideally, you need to choose an exchange based on your requirements, sign-up for the same, verify your identity, and then buy Bitcoin. However, the exchanges differ from one another based on several factors such as transaction fees, ease of use, withdrawal limits, payment modes, reputation, and security.
That’s where our guide to Bitcoin Exchanges in Brazil comes in handy as it lists the pros and cons of the major cryptocurrency exchanges in the country. But it should be kept in mind that some of the exchanges require users to first get a Bitcoin or cryptocurrency wallet first where the tokens will be stored. If you don't have a wallet, you can go through our guide on the best Bitcoin & cryptocurrency wallets to choose one.
Once you have a wallet and have signed up with an exchange, you are all set to buy Bitcoin. Alternatively, if you are in Sao Paulo, you can buy Bitcoin through one of the two ATMs present in the city. The advantage of a Bitcoin ATM is that you can buy tokens using cash, the purchase is instant, and you will also remain anonymous as most ATMs don’t require verification. The downside comes in the form of high transaction fees that range between 5%-10%.
Meanwhile, the avenues to spend Bitcoin in Brazil are also expanding. A movie theater in the city of Florianopolis recently started accepting payments in Bitcoin, while a hotel chain in the country was forced to start accepting Bitcoin payments after multiple requests. Additionally, Brazilian Supermarket Oasis Supermercados Chain is also accepting Bitcoin payments now.
So, it is evident that the Bitcoin ecosystem in Brazil is developing, but the government needs to take a stand and ensure that it keeps moving in the right direction.
