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.
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.
Kraken Buy Now 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. Users can buy bitcoin, ethereum, dogecoin and dozens of other coins.
LocalBitcoins Buy Now 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.
Paybis Buy Now 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.
Airtm Airtm offers a peer community. You can buy and sell dollars or crypto in exchange for other forms of value. The platform provides trust and transparency by authenticating users and establishing a higher degree of identity validation to the peers who facilitate the transactions. Airtm provides an escrow system, so that value exchanges are fair and are completed as agreed.
Bitex 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.
SatoshiTango Buy Now 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.
Bitcoin ATMs Buy Now 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%.
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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.
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. If you don’t have a wallet, refer to our guide on the Best Bitcoin and Cryptocurrency Wallets to choose one.
COMPARISON
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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Uruguay has access to many large Bitcoin and cryptocurrency exchanges.
Have a look at our favorites below:
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.
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There are three main types of Bitcoin wallet and all of them are supported in Uruguay:
The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. It connects to iOS, Android & desktop computers.
ZenGo is an easy-to-use iOS and Android Bitcoin & crypto wallet. Start within 20 seconds.
Electrum is a Bitcoin-only wallet that has been around since 2011. It's easy to use, but has advanced features.
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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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Coinbase ONLY allows crypto to crypto conversions for Uruguay residents as of January of 2021.
At this time, there are no Bitcoin ATMs 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.
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.
Jordan Tuwiner is the founder of BuyBitcoinWorldwide.com. His work has been featured in The Guardian, International Business Times, Forbes, VentureBeat, CoinDesk and many other top Bitcoin media outlets. His articles are read by millions of people each year looking for the best way to buy Bitcoin and crypto in their country.
He has also written extensively about the history, technology, and business of the crypto world. Jordan is also the creator of some of the internet's most famous Bitcoin pages, including The Quotable Satoshi and Bitcoin Obituaries.
To learn more about Jordan, see his full bio.
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