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Peru is not really one of the first countries one thinks of when talking about Bitcoin. While Peru has a somewhat developed and stable economy compared to its neighbors in South America, it is not really considered a Bitcoin or tech hub and there is not much active development or startup culture to speak of in the country.

But with the recent 2021 presidential election of Pedro Castillo, many Peruvians are trying to protect their assets by purchasing cryptocurrency. It is expected that President-elect Castillo may attempt to nationalize several industries in the country. This has created fears that a currency devaluation will follow, and citizens may be turning to cryptocurrency as a refuge from those losses. It has been reported that trading volumes of cryptocurrency increased by over 20% in the week of the election and the weeks before and after the election.

If you want to invest as well, this post will explain just how easy it is to get Bitcoin in Peru.

Shoppers in Lima, the capital of Peru

One of the easiest ways to buy Bitcoin in Peru is through cryptocurrency exchanges, outlined above. There are several exchanges offering Bitcoin in Peru, allows you to 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 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.

Another way to buy Bitcoins in Peru 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.

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

• 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 Peru 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 Peru that allow you to buy litecoin and other crypto assets for good exchange rates.

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Bitcoin Phishing Attacks on Peruvian Banks

In August of 2018, a series of phishing emails targeting Peruvian bank employees was making the rounds.

The emails offered readers two links: the first to an exchange to invest in "new technology" with the second taking the reader to a video that explains investing in cryptocurrency.

This is what that email looked like:

However, the links in the email take the user to what look like malicious pages that download adobe flash files (their purpose is not clear) and then redirects the user to obvious phishing sites like this one:

Some users who had clicked the links also reported being affected by ransomware, and had to pay the hijacker Bitcoins in order to get their system unlocked.

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Does Coinbase work in Peru?

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

Where Can I Find a Bitcoin ATM in Peru?

Unfortunately, there are only 3 Bitcoin ATMs in Peru, and they are all in the capital, Lima.

One in Case and Covers, one in La Tiendita de Nakamoto, and one in the Crypto Market, which is open for use 24 hours a day, 7 days a week.

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

What is the price of Bitcoin in Peru?

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.

How do I cash out of Bitcoin in Peru?

Any exchange with a Sol trading pair will allow you to sell your Bitcoin for fiat currency. CambistaBitcoin has PEN trading pairs for many popular coins.

As mentioned previously, you can also use automated teller machines (ATMs) to buy Bitcoin.

LocalBitcoins is 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.

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