Finding the best cryptocurrency exchange in Brazil depends on whether you plan to trade assets with a large market capitalization such as Bitcoin and Ethereum or alternative currencies with a smaller capitalization. The type of payment options and security features of the exchange may also be a factor in your decision. You can choose from a large number of options to buy Bitcoin in Brazil. Brazilian crypto enthusiasts can choose between local and international exchanges. With adoption increasing in the country, Brazil aims to dominate the bitcoin market in Latin America.
Before opening a funded live exchange account, it would be wise for beginners in cryptocurrency trading to learn the best practices of trading on a demo account. Also, be prepared to deal with the inherently volatile nature of the digital asset markets.
Best cryptocurrency exchange in Brazil
Intraday traders have been the catalyst for Brazilian exchanges, which reached record trading volumes in 2021. In addition, 2 exchange-traded funds (ETFs) were launched in the country earlier this year, sparking interest in bitcoin. Even major institutions outside of Brazil want a part of the Brazilian crypto market. The Mexican Stock Exchange “Petso” has invested in expanding its operations in Brazil. If you are planning to get involved in digital assets through trading or as a store of value, opening a crypto exchange account is an excellent move.
Most Brazilian exchanges require KYC (Know Your Customer) identity verification to get started. You should also enable two-factor authentication for your account for added security. However, exchanges are not the safest place to store your digital assets. For maximum security, keep your tokens in a hardware or software wallet. A crypto wallet allows you to store your funds securely without the risk of an exchange hack.
You will want to consider several notable features when choosing the best crypto exchange for your needs. Let’s review some of the best cryptocurrency exchanges in Brazil.
1. Best for all-inclusive: Binance
Binance has the largest trading volume and trading options of any cryptocurrency exchange in the world. The Binance platform features a user-friendly interface for beginner traders and advanced options if traders want to get their hands on the technology. A robust suite of security features such as two-factor authentication and advanced verification help Binance protect your digital assets.
Brazilian users may want to take advantage of the minimum fees of Binance to trade and add funds to their account. Users of the platform can also participate in gifts and receive tokens for airborne projects.
2. Best for Ease of Use: Coinbase (NASDAQ: COIN)
Coinbase is one of the most popular and easy to use cryptocurrency trading platforms. Coinbase has direct interfaces for buying and selling cryptocurrency pairs. Advanced traders can take advantage of Coinbase Pro, which offers more order types and improved functionality. Brazilians may find it attractive to earn cryptocurrency rewards with Coinbase’s unique Coinbase Earn feature.
Although Coinbase costs may be higher, the simplicity of the interface may be worth paying because a novice can become a skilled trader more quickly.
disclosure: eToro USA LLC; Investments are subject to market risk, including the possibility of losing capital.
3. Best for Ease of Access: eToro
eToro is a trading platform that gives investors access to trading on thousands of financial instruments. Brazilian users may find eToro’s most notable feature, CopyTrader, alluring enough to open an account. The CopyTrader feature allows you to view professional traders and copy their trades automatically in real time. Let’s say you are a beginner trader or you don’t have time to watch the markets. In this case, you can still benefit from the experience of other crypto traders.
eToro enables clients to deposit and withdraw using various payment methods such as bank transfers, credit cards and e-wallets.
4. Best for Global Reputation: Huobi Global
Huobi Global is one of the world’s most popular online digital asset exchange. Huobi has built up an excellent reputation over the years, best known for its wide range of features and strong security.
Huobi uses the latest security features for exchanges with funds held in cold, multi-signature wallets with around-the-clock monitoring. Huobi also has a safety reserve fund of 20,000 BTC to compensate users in the event of a system breach.
Market leading liquidity
5. Best for exchange rates: FTX exchange
The FTX Exchange offers various trading options for experienced traders. FTX also offers index futures contracts for cryptocurrency with fixed currency settlements. Lots of features help traders get the most out of cryptocurrency trading on FTX.com. There is also a 0 fee when converting one spot asset to another.
Types of cryptocurrency exchange
Cryptocurrency exchange is an intermediary for buyers and sellers to trade digital assets with a fee for this service.
The broker is the link between traders and the market. Using a brokerage is best when trading large amounts of money due to security and liquidity factors. Brokers offer different trading mechanisms such as leverage, depending on the particular broker.
One of the main differences between an exchange and a broker is that holders of cryptocurrency mostly use exchanges, holding their tokens and waiting for a possible price increase. Speculative investors typically use brokers and technical analysis (TA) tools such as margin trading. Naturally, they want to make quick profits, and the broker is just a way to access those profits.
Current crypto prices
Let’s take a look at the current price of Bitcoin and other cryptocurrencies. With the markets recovering after the summer lull, many cryptocurrency investors are heading for a rally in the asset class over the next 12 months.
What to look for in a cryptocurrency exchange
Reputation is one of the most relevant factors when choosing an exchange. You should research the reputation of the cryptocurrency exchange and read the reviews.
Watch out for exchanges that do not secure client funds, which may expose your tokens to theft. If you choose to leave your digital assets on an exchange, make sure that the exchange has reliable offline storage wallets to reduce the chance of hacking.
Fees and Payment Methods
To avoid wasting your hard-earned money, be aware of all the fees charged for exchange fees. Costs can vary greatly depending on the type of exchange you use. Exchanges with limited payment options may cause problems with cryptocurrency purchases.
Each exchange can provide varying exchange rates between cryptocurrencies and national currencies. It would be best to inquire about the exchange rate differences before opening an account. Exchange rates fluctuate widely in the markets, with actual fluctuation depending on the currency and cryptocurrency involved.
Ease of use
Most of the exchanges turn to novice investors by making it easy to join their platforms and start using them. They provide a simple program for investors new to cryptocurrency trading that is fast, easy and secure. Some exchanges offer users videos and live chats to guide them through the setup process.
Cryptographic regulation in Brazil
The Brazilian government does not impose any restrictions on the trading and use of cryptocurrencies in legal activities. Brazil’s central bank has outlined its regulatory stance on digital assets, warning citizens of the risks of turbulent markets and taking control of their assets.
Brazilian crypto exchanges are required to report all transactions to Brazil’s Federal Ministry of Revenue (RFB). Residents also must report all transactions over $2,700.
What you need to open a Crypto account in Brazil
In most cases, opening a crypto exchange account in Brazil is relatively easy. Most exchanges require you to go through the KYC process, which entails uploading your ID and a utility bill on the trading platform.
Best Cryptocurrency Wallets in Brazil
A software wallet is perhaps the safest and most convenient way for Brazilians to store their cryptocurrency. It is dangerous to leave your cryptocurrency on the exchange; In the event of a hack, you could lose your assets.
ZenGo Wallet allows you to easily trade cryptocurrencies on the built-in exchange. Featuring an elegant and easy-to-use interface, ZenGo is an excellent choice for beginners. A unique feature of ZenGo is facial biometrics, which eliminates the need to keep track of passwords, private keystrokes, or initial phrases.
Trust Wallet is one of the most popular and secure crypto wallets out there. You can link to exchanges and trading symbols within the wallet. Trust Wallet provides a complete security audited system that is compatible with both iOS and Android.
MetaMask is probably the most popular cryptocurrency wallet, with over a million users. As an extension for desktop and mobile app, MetaMask provides the simplest and most secure way to connect to blockchain-based applications.
Great opportunities for cryptocurrency trading in Brazil
The Brazilian interest in the cryptocurrency markets has recently boomed. Today’s traders would rather trade cryptocurrencies than invest in the São Paulo stock exchange. Let’s say you are willing to buy Bitcoin in Brazil. In this case, you can do so through a lot of cryptocurrency exchange platforms that offer many different features and payment options. Getting started is simple; Simply choose the best crypto exchange that suits your needs, create an account, download a wallet and start trading. Feel free to visit Benzinga’s Crypto Center to learn more about different cryptocurrency projects.
Benzinga has developed a specific methodology for classifying cryptocurrency exchange instruments. We prioritize platforms based on offers, pricing, promotions, customer service, mobile applications, user experience, benefits and security. For a comprehensive analysis of our methodology, please visit our cryptocurrency methodology page.