How to Buy Crypto & Bitcoin in Uruguay

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Many want to buy bitcoins in Uruguay as it's one of the wealthiest countries in South America. We've spent time researching exchanges that work for UY residents.

eToroeToro

eToro has gained traction among Uruguayan traders and crypto/bitcoin enthusiasts. It offers support for Bitcoin, Ethereum, Litecoin, Zcash, and several other coins popular in UY. Uruguayan users can swiftly make deposits via bank transfer, SEPA, NETELLER, PayPal, and other methods familiar to them.

Cryptoassets are unregulated & highly speculative. No consumer protection. Capital at risk.

Visit eToro's Website

Pros
  • Offers unique copy trading feature
  • Trusted exchange 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
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Ease of Use
Easy
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Privacy
Low
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Speed
Average
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Fees
Low
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Reputation
Trusted
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Limits
High

Bitcoin ATMs in UruguayBitcoin ATMs in Uruguay

We've researched and found the single Bitcoin ATM in Uruguay. Use our Bitcoin ATM map to find its location. View Bitcoin ATMs in Uruguay

CoinmamaCoinmama

Coinmama has been serving customers of Uruguay since 2011, when the company launched. Customers in UG can deposit via SWIFT and wire transfer. Visit Coinmama's Website

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
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Ease of Use
Easy
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Privacy
Low
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Speed
Fast
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Fees
Average
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Reputation
Trusted
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Limits
High

CEX.ioCEX.io

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.

Pros
  • Support for many countries and regions
  • Low 0.2% trading fee
  • Established and trusted exchange
Cons
  • Verification process is extensive, requiring much personal information (including a photo) and incurring a long delay
  • GBP market lacks liquidity
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Ease of Use
Average
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Privacy
Low
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Speed
Average
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Fees
Average
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Reputation
Trusted
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Limits
Average

KrakenKraken

Founded in 2011, Kraken is one of the world's foremost cryptocurrency exchanges and has established a significant presence in Uruguay. As a hub for digital asset trading in the region, it caters to the diverse needs of Uruguayan investors. Deposits can be made via bank wire, local Uruguayan payment methods, and more. Users in Uruguay can buy bitcoin, ethereum, dogecoin, and many other digital currencies. Visit Kraken's Website

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
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Ease of Use
Hard
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Privacy
Low
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Speed
Average
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Fees
Low
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Reputation
Trusted
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Limits
High

PaybisPaybis

Paybis is a popular cryptocurrency exchange. They serve 180 countries and 48 US states and are registered with FinCEN, making them a more trusted, regulated exchange. Paybis offers incredibly high limits and super fast payouts, not to mention 5 minute ID verification and nearly perfect review scores on Trustpilot.

Pros
  • 24/7 live support
  • Paybis has extremely high limits
  • 5 Minute verification
  • Get payouts fast
  • Large selection of payment methods
Cons
  • No traditional order book for advanced traders
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Ease of Use
Easy
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Privacy
Low
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Speed
Average
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Fees
Low
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Reputation
Trusted
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Limits
High

AirtmAirtm

AirTM benefits UY residents with secure, transparent dollar, Bitcoin and cryptocurrency transactions. AirTM allows instant access to funds and lots of other unique features.

Pros
  • Many payment methods available
  • Low fees for South American countries
Cons
  • Not private since identity verification is required
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Ease of Use
Easy
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Privacy
Low
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Speed
Average
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Fees
Low
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Reputation
Trusted
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Limits
High

BitexBitex

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.

Pros
  • Many payment methods available
  • Low fees for South American countries
  • Bitex brokers the sale of large amounts of bitcoin
Cons
  • Not private since identity verification is required
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Ease of Use
Hard
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Privacy
Low
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Speed
Average
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Fees
Low
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Reputation
Trusted
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Limits
High

SatoshiTangoSatoshiTango

SatoshiTango is one of the most popular exchanges in South America. It supports residents of Uruguay.

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
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Ease of Use
Hard
privacy icon
Privacy
Low
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Speed
Average
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Fees
Low
reputation icon
Reputation
Trusted
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Limits
High

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Bitcoin ATMs in Uruguay


We maintain our own database of Bitcoin ATMs. Here are the ATMs we've found in Uruguay. You can submit an ATM to use by using our contact form.

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  • ATM

  • List of ATMs We Found in Uruguay

    Smart Point

    ATM located at Smart Point in Punta del Este.

    address
    Gorlero entre calle 29 y 30
    Maldonado, 20000
    Uruguay
    hours
    24/7
    bitcoin
    buy Buy
    sell Sell

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    Bitcoin & Cryptocurrency Trading in Uruguay


    Back in late 2017, during Bitcoin's huge price run, Uruguay announced they were launching their digital currency. Like most altcoins that launched in late 2017/early 2018, it didn't materialize.

    Still, thanks to Uruguay's Bitcoin and blockchain-friendly attitude, trading Bitcoin is easy in Uruguay. There isn't any official regulation in Uruguay banning or permitting Bitcoin, so it's a bit of a gray area. Despite the government's lack of clarity on the topic, its residents are allowed to own Bitcoin, as long as they're not using for illegal activity.


    bitcoin in uruguay

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


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    Exchange Hacks and Crypto Scams in Uruguay


    As of September of 2023, we could find no Bitcoin or crypto exchange hacks or significant scams affecting Uruguay or its citizens. We will update this page if/when any news of scams or exchange hacks occur in Uruguay. There have been many in South America, but not specifically in Uruguay.


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    Bitcoin Mining in Uruguay


    If you're hell-bent on mining Bitcoin, here's what you need to know:

    Electricity costs are the leading factor in determining mining profitability. If the value of your mined Bitcoin is higher than your electric bill, you're profitable.

    Aside from buying powerful and efficient mining hardware, keeping electricity costs as low as possible is crucial for a profitable mining operation.

    Unfortunately, Uruguay's electricity costs are too high for a profitable operation. Coming in at $0.18 per kWh, citizens of Uruguay pay more than those in the United States.

    According to our mining profitability calculator, even using the best mining hardware in Uruguay would result in a loss of several thousand dollars per year, per miner, on top of the initial startup cost.

    The majority of Bitcoin mining is performed in countries with cheap electricity, like China - at least, until they took a harsh stance on Bitcoin and mining farms. Either way, it's not profitable in Uruguay, and unless you want to mine Bitcoin for fun, you should buy it directly from an exchange-listed above.

    Thanks to Uruguay's Bitcoin-friendly regulation, it's easy to buy and sell cryptocurrency in the country.

    Latest Bitcoin Trends: Tether Invests in Uruguay Mining

    Tether, the issuer of USDT, has announced its investment in sustainable Bitcoin mining in Uruguay. The company has partnered with a local licensed firm for this initiative. The mining facility is expected to start by mid-Q3 this year.

    • Plans: Tether plans to use its profits for Bitcoin investments and infrastructure.
    • Investments: Tether disclosed holding about $1.5 billion in Bitcoin as of March.
    • Statement: Paolo Ardoino, Tether’s CTO, highlights Tether's focus on sustainable mining in Uruguay.
    • Regional Context: South America is attracting global crypto investors, especially in Bitcoin mining.

    Tether’s USDT, with an $83 billion capitalization, is backed by various assets. The company reported $1.5 billion in profits for Q1 2023.


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    FAQ


    Does Coinbase work in Uruguay?

    Coinbase ONLY allows crypto to crypto conversions for Uruguay residents as of September of 2023.

    Where Can I Find a Bitcoin ATM in Uruguay?

    As of September 2023, there is one Bitcoin ATM in Uruguay. It's a Smart Point ATM located in Punta del Este.



    What is the price of Bitcoin in Uruguay?

    The current price of Bitcoin in Uruguay is UYU1,540,500.13, however this amount changes every minute, so always check the value on your local exchange.



    How do I cash out of Bitcoin in Uruguay?

    Any exchange with a Peso Uruguayo trading pair will allow you to sell your Bitcoin for fiat currency. Bitex has UYU trading pairs for many popular coins.

    Article Sources

    BuyBitcoinWorldWide writers are subject-matter experts and base their articles on firsthand information, like interviews with experts, white papers or original studies and experience. We also use trusted research and studies from other well-known sources. You can learn more about our editorial guidelines.

    1. World Population Review - Richest Countries in South America 2023, https://worldpopulationreview.com/country-rankings/richest-countries-in-south-america
    2. Forbes India - Tether to use renewable energy for Bitcoin mining in Uruguay, https://www.forbesindia.com/article/cryptocurrency/tether-to-use-renewable-energy-for-bitcoin-mining-in-uruguay/85283/1
    3. CNBC - Stablecoin giant Tether to mine bitcoin in Uruguay using renewable energy, https://www.cnbc.com/2023/05/30/stablecoin-giant-tether-to-mine-bitcoin-in-uruguay-using-renewables.html

    About the Author

    jordan tuwiner

    Jordan Tuwiner is the founder of BuyBitcoinWorldwide.com. He studied computer science at Towson University and holds an online degree in trading & cryptocurrency. Jordan has been writing about Bitcoin since 2015. His work has been featured in The Guardian, International Business Times, Forbes, VentureBeat, CoinDesk and many other top Bitcoin media outlets.



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