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Mexico is at the forefront of financial tech innovation in Latin America, coming in at number one with 238 fintech-related startups. Brazil (219) and Colombia (124) round out the top three.

Recently, the fintech sector in Mexico has seen official regulation. In 2018, the Ley Fintech, as it was called, was passed with the support of the Comisión Nacional Bancaria y de Valores (CNBV). Then CNBC came out in favor of the law, which simplified and updated regulation around online financial services including crowdfunding services and cryptocurrency trading platforms.

In addition to a clear legal framework, Bitcoin enthusiasts in Mexico enjoy a wide range of available services. There are a number of international exchanges available locally (including Coinbase) and some solid homegrown offerings such as Bitso and Bitlem (see below for our reviews).

In September 2021, Bank of Mexico Governor Alejandro Díaz de León said Bitcoin resembles “a dimension of precious metals” when compared to the central bank’s fiat money. His statement wasn’t meant as an endorsement but a warning because of the price volatility associated with cryptocurrencies.

Still, as Bitcoin's popularity and acceptance grows, the cryptocurrency could fulfill a number of important roles in Mexican industries, from the cutting edge of financial technology to remittance payments.

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One of the easiest ways to buy Bitcoin in Mexico is through cryptocurrency exchanges. There are several exchanges offering Bitcoin in Mexico allowing you to select one based on your requirements and preferences using our list outlined above. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be considered before selecting one.

Additionally, Bitcoin buyers need to keep in mind that certain exchanges might require you to get a wallet of your own before being able to buy the digital currency. Even if there is no requirement, it is recommended to have a wallet of your own for security reasons (preferably a hardware wallet). If you don’t have a wallet, refer to our guide on the Best Bitcoin and Cryptocurrency Wallets to choose one.

Have a look at our favorite cryptocurrency exchanges below:

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There are three main types of Bitcoin wallet and all of them are supported in Mexico:

• Software (desktop or mobile - iOS and Android wallets
• Hardware wallet
• Cold-storage (paper or steel wallets, the latter of which are used to backup your main wallet.

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Ethereum (ETH) has established itself as the second most popular digital currency, after Bitcoin. Its smart contract features allow unique apps to be built on top of its platform. Below you will find exchanges in Mexico that allow you to buy ethereum. Once you buy, you should withdrawal your ETH directly to your own crypto wallet.

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Thanks to Tesla founder Elon Musk, Dogecoin (DOGE)—a coin that started as a meme about the shiba inu dog—has recently become a popular digital currency. Below you can find crypto exchanges in Canada that allow you purchase Dogecoin.

About Dogecoin: Dogecoin has become one of the most famous altcoin blockchains. Dogecoin was founded by Jackson Palmer and Billy Markus on December 6, 2013. Thanks to its popularity on Robinhood, it hit an all time high of $0.42 on April 20. Doge started the year at under $0.01 USD. It is an open source blockchain, meaning its code is publicly available for anyone to see.

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Litecoin (LTC) is one of largest cryptocurrencies by market cap. Below you can find a list of brokerages in Mexico that allow you to buy litecoin and other crypto assets for good exchange rates.

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Bitso

Bitso is the largest Mexican exchange, serving over 80,000 customers in Mexico and more than half a million across Latin America. Bitso offers a full suite of trading products, including a beginner-focused offering as well as Bitso Alpha, which is targeted to advanced and professional traders.

Bitso Alpha

With 206 BTC of 24 hour trading volume on the BTC/MXN pair, there is ample liquidity for small to medium sized traders and investors.

As proof of its commitment to broadening its services across Latin America, Bitso also has a Bitcoin/Argentine Peso (ARS) trading pair.

Bitso allows you to fund your trading account via bank SPEI transfers, or via OXXO Pay.

Bitso's mobile app is available on the Apple App Store as well as the Google Play Store.

Depending on the specific trading pair, Bitso's fees range from very competitive to relatively high.

Fees for Mexican peso (MXN) markets - i.e. BTC/MXN, ETH/MXN, etc. - start at 0.65% for taker orders on accounts with less than 1,500,000 MXN 30 day trading volume.

BTC market - i.e. ETH/BTC - fees start at 0.098% and go as low as 0.05% for traders with >950 BTC 30 day trading volume.

Taker fees on Argentine Peso (ARS) markets start at 0.6% for taker orders and 0.3% for maker orders.

Cryptocurrency deposits are free of charge. Withdrawals can be somewhat pricey - withdrawing DAI to an external wallet currently incurs a fee of 4.56 DAI - though this is not far above the industry average.

See here for a full breakdown of Bitso's fees.

Bitlem

Bitlem is a Mexico City based exchange.

Bitlem's head office, which also houses a physical over-the-counter trading desk, is just across the road from the Mexican stock exchange (la Bolsa Mexicana de Valores). Clients can walk in and buy Bitcoin in a face to face transaction with a real person, something which the company says is appreciated by many first time Bitcoiners.

With 0.1% fees on all trades, telephone support, and a professional traders' platform, Bitlem is going after all corners of the market.

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Does Coinbase work in Mexico?

Coinbase is available in Mexico.

Mexican users can buy cryptocurrencies and convert between them. Credit and debit cards are the only supported payment methods, meaning no bank transfers or PayPal.

Where Can I Find a Bitcoin ATM in Mexico?

Bitcoin ATMs are a convenient way to buy and sell Bitcoin and other cryptocurrencies for cold hard cash. This method usually incurs relatively high (5-10%) fees, but that's the price to be paid for the convenience of getting cash for your Bitcoin in less than half an hour.

Many ATM operators publish live prices for their machines, so you can see the exact rate you'll get before even visiting the ATM.

Some will require you to complete identity verification, though for many this is as simple as confirming a phone numer.

Our Bitcoin ATM Locator lists 10 Bitcoin ATMs in Mexico. Mexico City is home to four Bitcoin ATMs, Culiacán two, and Guadalajara, Monterrey, Santiago de Querétaro and Tijuana one each.

What Is the Price of Bitcoin in Mexico?

Bitcoin prices are changing every second.

The best way to find the most up-to-date price of Bitcoin is to check out our Bitcoin price page.

Another good way to check the price of Bitcoin in Mexico is to go the your exchange of choice and check the price in your local currency that Bitcoin last sold for. The price of an asset is just this - the value of the compensation for which it was most recently exchanged. This price differs across markets, i.e. one exchange may have a slightly lower or higher price depending on varying barriers to entry and liquidity. So, the price that most matters is the one you can actually trade at. This is most likely to be the price on the exchange you use the most.

See above for a list of the best Bitcoin exchanges in Mexico.

There are also a range of websites such as CoinMarketCap and Nomics that list the prices of hundreds of digital assets, drawn from a range of exchanges and averaged out.

Can I Buy Bitcoin in Mexico Using PayPal?

Yes, there are a number of ways to buy Bitocin in Mexico using Paypal.

However, there are a number of things to take into account when buying Bitcoin with PayPal.

PayPal is notorious for payment disputes, meaning sellers often add large markups to offset the risk of having the payment reversed. Also, varying slightly depending on you and the counterparty's countries of origin, there will be a roughly 3% fee to take into consideration.

Peer-to-peer marketplaces such as LocalBitcoins, and LocalCrypto all support PayPal as a payment method.

That sums up the major P2P marketplaces where you can buy Bitcoin using PayPal. Be sure to thoroughly read the terms of trade before opening one, and check the seller's price of Bitcoin vs the spot price as the markup can sometimes be drastic.

eToro is another option for those in Mexico looking to buy Bitcoin using PayPal. eToro is an online stocks and crypto brokerage which allows you to fund your account using PayPal, as well as Skrill and Netteller. Once your account is funded, you're free to trade all supported assets on the platform, including Bitcoin, Ethereum, XRP, and Litecoin.

Can I Buy Bitcoin With Cash In OXXO Stores?

Yes, you can buy Bitcoin using cash in OXXO stores.

OXXO is a non-bank post-payment platform that allows users to pay for online services at any of the 18,000 OXXO stores in Mexico. At checkout, a customer can select OXXO and receive a barcoded document that represents the balance owed. This voucher is valid for three days, and can be paid in cash at any OXXO store.

The simplest way to buy Bitcoin using an OXXO invoice is to create an account with Bitso, a Mexico-based exchange with more than half a million customers in Latin America.

Once you've opened an account, you can deposit pesos to your balance using OXXO. Then, purchase Bitcoin or any other supported asset (ETH, BAT, MANA, TUSD, XRP, LTC, BHC, and GNT).

Deposits using Oxxo take less than a minute to appear in your account and are subject to a 2.6% fee by Bitso plus IVA.

If for whatever reason you do not wish to open an exchange account, there are other ways to buy Bitcoin using OXXO.

Paxful is a peer-to-peer (P2P) marketplace where you can buy and sell Bitcoin with other individuals.

And there are a number of people selling Bitcoin for OXXO Pay.

When using P2P exchanges, be sure to always read the counterparty's terms of trade, and always use the platform's escrow service.

How Do I Send Money to Mexico Using Bitcoin?

Bitcoin - as an unconfiscatable digital asset that is accessible wherever there is internet - is ideal for remittances.

The process of sending Bitcoin from one address to another is identical regardless of where the sender and recipient are located. There are no extra steps required that make sending Bitcoin internationally any different to sending it next door.

Likewise, the blockchain fee you will need to pay in order to have your transaction sent is the same, whether you're sending to the other side of the world or just another of your own wallets.

Are There Any Bitcoin Debit Cards Available in Mexico?

Bitcoin debit cards are a very convenient product born from the combination of the crypto world and legacy finance. They allow you to load crypto (almost always Bitcoin, and often with other supported assets like ETH or DAI) and spend it anywhere that debit cards are accepted. If the crypto is not automatically converted to fiat at the time of payment, you will need to pre-convert it, usually within your card provider's app.

Most cards issued are Visas, though recently MasterCard has been accelerating its offerings in the space and in July partnered with Wirex - a crypto card service.

There are a range of providers out there, and most of their products are relatively similar. As card issuers generally take the same cut of transaction fees - with their share called the interchange - there is little room for much difference on pricing, fees, etc. Differences arise more often based on the country in which the parent company is located.

This means that it's mostly a matter of picking which provider best serves your locality.

That said, not all card issuers serve Mexico. Options are more limited than in the US or EU, with Europe especially being spoiled for choice with options like non-custodial decentralized payment providers.

Available in Mexico

Bitpay's offering will be hard to beat once it is released, while Uquid's debit card is the only option in Mexico right now. With Revolut's recent expansion into the U.S., it's worth keeping your fingers crossed that Mexico will be the next market for the fintech pioneer.

How Do I Cash Out Of Bitcoin in Mexico?

The abovementioned Bitcoin debit cards allow you to withdraw cash from any ATM.

Bitcoin ATMs are another way to exchange your BTC for fiat currency.

You can use our Bitcoin ATM finder tool to find the one nearest you.

Perhaps the most straightforward way is to use any exchange that has a BTC/MXN trading pair, such as Bitso or Bitlem, which are reviewed above. You can sell your Bitcoin for pesos, and then cash out those pesos to your bank account.

LocalBitcoins and other P2P exchanges are another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. LocalBitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems.

As selling Bitcoin for fiat currency is usually considered a taxable event, you'll want to make sure you comply with local regulations regarding taxation of capital gains. Check out our guide to the best cryptocurrency tax software to help you maximize your profits.