Buy Bitcoin & Crypto in Panama

We may receive advertising compensation when you click certain products. Before jumping into this page, an important disclosure.

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 Panama
  • eToro
    • Supports Bitcoin, Ethereum & 15 other coins
    • Start trading fast; high limits
    • Clean & easy trading interface

    This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

  • Coinmama
    • Works in almost all countries
    • Highest limits for buying bitcoins with a credit card
    • Reliable and trusted broker

eToroeToro 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.

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

We may receive compensation when you use eToro. Please visit eToro for its exact pricing terms.

Pros
  • Offers unique copy trading feature
  • Trusted echange that has been active in traditional finance
  • Interface is clean and easy to use
Cons
  • You cannot deposit cryptocurrency, but you can deposit with other payment methods
ease icon
Ease of Use
Easy
privacy icon
Privacy
Low
speed icon
Speed
Average
fees icon
Fees
Low
reputation icon
Reputation
Trusted
limits icon
Limits
High
Buy Bitcoin Read Review

CoinmamaCoinmama 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.

Pros
  • Works in almost all countries
  • Highest limits for buying bitcoins with a credit card
  • Reliable and trusted broker
Cons
  • Some of the highest fees among credit/debit card bitcoin brokers
ease icon
Ease of Use
Easy
privacy icon
Privacy
Low
speed icon
Speed
Fast
fees icon
Fees
Average
reputation icon
Reputation
Trusted
limits icon
Limits
High
Buy Bitcoin Read Review

KrakenKraken 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.

Pros
  • 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
Cons
  • Requires ID verification, so not private
ease icon
Ease of Use
Hard
privacy icon
Privacy
Low
speed icon
Speed
Average
fees icon
Fees
Low
reputation icon
Reputation
Trusted
limits icon
Limits
High
Buy Bitcoin Read Review

LocalBitcoinsLocalBitcoins 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.

Pros
  • Can be private, fast and easy
  • In-person trades require no personal information
  • Purchases of bitcoin can be made quickly via cash deposit
Cons
  • 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
ease icon
Ease of Use
Hard
privacy icon
Privacy
High
speed icon
Speed
Fast
fees icon
Fees
Low
reputation icon
Reputation
Trusted
limits icon
Limits
Average
Buy Bitcoin Read Review

Panama BitcoinsPanama Bitcoins Buy Bitcoin

Panama Bitcoins connects you with bitcoin brokers across the Republic of Panama. They charge a flat 1% fee. You can get in touch with them using the 4 methods of contact on their website.

Pros
  • One of the best ways to buy bitcoins in Panama
  • Trusted service that's been in business since 2013
Cons
  • Not a streamlined online process for your first purchase; it's necessary for new customers to establish contact with a broker
ease icon
Ease of Use
Hard
privacy icon
Privacy
Low
speed icon
Speed
Average
fees icon
Fees
Low
reputation icon
Reputation
Trusted
limits icon
Limits
High
Buy Bitcoin

SatoshiTangoSatoshiTango 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.

Pros
  • 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
Cons
  • 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
ease icon
Ease of Use
Hard
privacy icon
Privacy
Low
speed icon
Speed
Average
fees icon
Fees
Low
reputation icon
Reputation
Trusted
limits icon
Limits
High
Buy Bitcoin

Bitcoin ATMsBitcoin 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%.

Pros
  • Our map makes it super easy to find a Bitcoin ATM near you
Cons
  • Bitcoin ATMs often have 5-10% fees per purchase
Buy Bitcoin

-

Bitcoin & Cryptocurrency Trading in Panama


Panama is one of the most Bitcoin-friendly countries in the world. For example, the Balboa Boutiques Strip Mall in Panama accepts Bitcoin. People can pay for clothing, craft beers, and food with cryptocurrency there.

Bitcoin's popularity in Panama extends further than shopping. Set to take place back in March (before COVID-19 canceled it), Blockchain Summit Latam (BSL) was going to be an excellent Bitcoin event.


Panama City - the capital of Panama

One of the easiest ways to buy Bitcoin in Panama is through the cryptocurrency exchanges outlined above. There are several exchanges offering Bitcoin in Panama, and you can easily select one based on your requirements and preferences using our guide. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.

Additionally, Bitcoin buyers need to keep in mind the fact that certain exchanges might require them to get a wallet of their own before they are able to buy the digital currency. Also, 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.


COMPARISON

ledger nano x folded

Ledger Nano X

  • SCREEN:
  • RELEASED: 2019
  • PRICE: $119
ledger nano s illustration

Ledger Nano S

  • SCREEN:
  • RELEASED: 2016
  • PRICE: $59
trezor model T

TREZOR T

  • SCREEN:
  • RELEASED: 2018
  • PRICE: $159
Trezor One

TREZOR One

  • SCREEN:
  • RELEASED: 2013
  • PRICE: $59

Another way to buy Bitcoins in Panama is through automated teller machines (ATMs). These ATMs allow users to instantly purchase the cryptocurrency using cash, and most of them only require a telephone number for verification, so long as you aren’t buying a lot of Bitcoin. This makes them more private than exchanges. You can locate Bitcoin ATMs in Panama using our Bitcoin ATM Map.




-

Top Bitcoin & Cryptocurrency Exchanges in Panama


Panama has access to many large Bitcoin and cryptocurrency exchanges.

Have a look at our favorites below:

  • Popular Exchanges to Buy Bitcoin & Crypto in Panama
  • eToro
    • Supports Bitcoin, Ethereum & 15 other coins
    • Start trading fast; high limits
    • Clean & easy trading interface

    This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

  • Coinmama
    • Works in almost all countries
    • Highest limits for buying bitcoins with a credit card
    • Reliable and trusted broker

-

Best Bitcoin Wallets for Panama



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

Best for Security

ledger nano x

Ledger Nano X

Secure storage for any cryptocurrency

Visit Website

The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. It connects to iOS, Android & desktop computers.

Temporary Wallet

atomic wallet logo

Atomic Wallet

Best for storing crypto for short period of time

Learn More

Atomic wallet is a multicurrency mobile wallet with a beautiful interface and easy to use features.

Best for Desktop

electrum logo

Electrum

Simple yet powerful desktop wallet

Learn More

Electrum is a Bitcoin-only wallet that has been around since 2011. It's easy to use, but has advanced features.


-

Exchange Hacks and Crypto Scams in Panama


Crypto Capital and QuadrigaCX

In 2018, one of Canada's largest crypto exchanges, QuadrigaCX, had its wallets drained of 26,350 Bitcoins. It is presumed that many of the coins were actually stolen by the founder of Quadrgia Gerald Cotten, who soon after died on his honeymoon in India.



Where does Panam come into play here?

It is beleived that many of the stolen coins may be in the custody of a Panamanian shadow bank called Crypto Capital. Though no one really knows for sure.


-

Bitcoin Mining in Panama


Though most will opt to buy Bitcoin directly from one of the exchanges listed above (and rightly so), more tech-savvy Bitcoin enthusiasts may mine Bitcoin instead.

Mining is not profitable for most people, and has fallen far from its golden age, when anyone could turn a profit with a simple graphics card.

Nowadays, the majority of Bitcoin mining takes place in countries with cheap electricity (not Panama) to keep costs down, as electricity is one of the leading factors in calculating mining profitability. If you mine more Bitcoin than you spend on electricity, you'll be profitable.

Panama has pretty expensive electricity, coming in at roughly $0.16 per kWh.



On a global scale, it's average and comparable to that of the United States. But unfortunately, it's still too high for profitable Bitcoin mining, especially with Bitcoin's block difficulty on the rise. That means you'll mine less Bitcoin with the same hash rate.

According to our Bitcoin mining calculator, mining Bitcoin in Panama is not a good idea unless you're strictly doing it for fun. Using the best mining hardware isn't enough, as our calculator projects a loss of more than $2,500 per year, on top of the initial investment in Bitcoin mining hardware.

If you want to acquire Bitcoin, buying it from an exchange available to Panama or another peer on the network is a smarter idea than mining.


-

FAQ


Does Coinbase work in Panama?

Coinbase ONLY allows crypto to crypto conversions for Panamanian residents as of September of 2020.

Where Can I Find a Bitcoin ATM in Panama?

There are several Bitcoin ATMs in the major cities of Panama, esepcailly in the Capital, Panama City.



What is the price of Bitcoin in Panama?

The current price of Bitcoin in Panama is PAB 36,876, however this amount changes every minute, so always check the value on your local exchange.



How do I cash out of Bitcoin in Panama?

Any exchange with a Panamanian Balboa trading pair will allow you to sell your Bitcoin for fiat currency. Panama Bitcoins and Satoshi Tango has PAB trading pairs for many popular coins.

Another way to sell Bitcoins in Panama is through automated teller machines (ATMs). These ATMs allow users to instantly purchase and sell cryptocurrency using cash, however most of them require at least a phone number, so they aren't totally private. You can locate Bitcoin ATMs in Panama using our Bitcoin ATM Map.

Local Bitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. Local Bitcoins 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.



You could also use a service like eGifter to sell your Bitcoin for gift cards.

Which stores accept Bitcoin in Panama

Bitcoin is accepted at lots of stores and service providers all over Panama. So many, in fact, that we couldn't possibly list them all here. However, you can find specific kinds of services and goods filterable on a map over at coinmap.org.


The colored sections indicate areas where there is heavier acceptance of Bitcoin