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

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In August 2021, a bill was introduced by Sen Juan Sartori to provide legal, financial and fiscal security for businesses and individuals use of cryptocurrencies. The bill states, "Crypto assets will be recognized and accepted by law and applicable in any legal transaction. They will be considered a valid means of payment, in addition to those included in the financial inclusion law, as long as they comply with the rules set forth in the law and the regulations." Although the bill doesn't actually treat cryptocurrencies as legal tender, it does give them financial characterisitics.

In the meantime, thanks to Uruguay's Bitcoin and blockchain-friendly attitude, trading Bitcoin is easy in Uruguay. 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.

Montevideo - the capital of 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, allowing 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 option for Buying Bitcoins in Uruguay is through peer-to-peer exchanges like LocalBitcoins. On platforms like these, users buy and sell with other individuals directly. More on how these work in Chapter 6.

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

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

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As of January of 2021, we could find no 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.

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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.

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Does Coinbase work in Uruguay?

Coinbase ONLY allows crypto to crypto conversions for Uruguay residents as of January of 2021.

Where Can I Find a Bitcoin ATM in Uruguay?

At this time, there are no Bitcoin ATMs in Uruguay.

You can use our Bitcoin ATM finder tool to check back in occasionally and see if one has opened.

What is the price of Bitcoin in Uruguay?

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 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.

As of January of 2021, there are unfortunately no Bitcoin ATMs in Uruguay.

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.