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Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
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.
Cryptoassets are highly volatile. Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
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.
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.
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 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 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 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.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 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.
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%.
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.
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.
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.
Coinbase is an easy-to-use iOS and Android crypto exchange and wallet. Start within 20 seconds.
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.
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.
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.
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.
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.
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.
You can use our Bitcoin ATM finder tool to check back in occasionally and see if one has opened.
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.
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.