Best Crypto Exchanges in Brazil

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Contributor, Benzinga
August 30, 2021

Quick Look: Best Crypto Exchanges in Brazil

Finding the best cryptocurrency exchange in Brazil depends on if you plan to trade large market capitalization assets like Bitcoin and Ethereum or smaller-cap altcoins. The type of payment options and security features of the exchange may also be a factor in your decision. You can choose from a ton of options for buying Bitcoin in Brazil. Brazilian crypto enthusiasts can choose between local and international exchanges. As adoption grows in the country, Brazil aims to dominate the Bitcoin market in Latin America.

Before opening a live-funded exchange account, beginners in crypto trading would be wise to learn the best trading practices on a demo account. Also, be prepared to handle the inherently volatile nature of digital asset markets.

Disclosure: eToro supports the following currencies: BTC, ADA, DASH, DOGE, EOS, ETH, LTC, NEO, XLM, XTZ, TRX, ZEC. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. T&Cs apply. *The bonus is available to Benzinga readers in the US for open states only. Served by eToro USA LLC.

Best Crypto Exchanges in Brazil

Day traders have been the catalyst for Brazilian exchanges, hitting record trading volumes in 2021. Additionally, 2 crypto exchange-traded funds (ETFs) launched in the country earlier this year, causing interest in Bitcoin to soar. Even major institutions outside of Brazil want a piece of the Brazilian crypto market. The Mexican-based exchange “Bitso” has invested in expanding its operations into Brazil. If you plan to get involved with digital assets via trading or as a store of value, opening a crypto exchange account is an excellent move.

Most Brazilian exchanges require KYC (Know Your Customer) identification verification to get started. You should also enable 2-factor authentication to your account for added security. However, exchanges are not the safest place to store your digital assets. To maximize safety, keep your tokens in your hardware or software wallet. A crypto wallet allows you to safely store your funds without the threat of an exchange hack.

You’ll want to consider several notable attributes when choosing the best crypto exchange to meet your needs. Let’s review some of the best crypto exchanges in Brazil.

1. Best for All-Inclusive Features: Binance

Binance has the highest trading volume and most trading options of any cryptocurrency exchange in the world. Binance sports an easy-to-use interface for beginning traders and advanced options if traders want to get technical. A robust suite of security features like 2-factor authentication and advanced verification assist Binance in protecting your digital assets.

Brazilian users may want to take advantage of Binance’s minimal fees to trade and add funds to their accounts. Users of the platform can also participate in giveaways and receive air-dropped tokens of up-and-coming projects.

2. Best for Ease of Use: Coinbase (NASDAQ: COIN)

  • Coinbase
    Best For:
    Active Crypto Traders
    securely through Coinbase's website

    Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards. ³Crypto rewards is an optional Coinbase offer. Upon purchase of USDC, you will be automatically opted in to rewards. If you’d like to opt out or learn more about rewards, you can click here. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts.

Coinbase is 1 of the most popular and easy-to-use cryptocurrency trading platforms. Coinbase has straightforward interfaces to buy and sell crypto pairs. Advanced traders can take advantage of Coinbase Pro, which offers more order types and enhanced functionality. Brazilians may find earning cryptocurrency rewards through Coinbase’s unique Coinbase Earn feature appealing.

Though Coinbase costs may be higher, the simplicity of the interface may be worth paying for because a beginner could become a proficient trader more quickly.

3. Best for Easy Access: eToro

  • eToro
    Best For:
    Social Investing
    securely through eToro's website

    Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk

    Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more

eToro is a trading platform that gives investors access to trade on thousands of financial instruments. Brazilian users may find eToro’s most prominent feature, CopyTrader, enticing enough to open an account. The CopyTrader feature allows you to view pro traders and copy their trades automatically in real time. Suppose you’re a beginning trader or don’t have time to watch the markets. In that case, you can still leverage other crypto traders’ expertise.

eToro enables clients to deposit and withdraw using various payment methods like wire transfers, credit cards and eWallets.

4. Best for Global Reputation: Huobi Global

Huobi Global is 1 of the most recognized online digital asset exchanges internationally. Huobi has built a stellar reputation over the years, best known for its vast array of features and robust security.

Huobi uses the most up-to-date security features for exchanges with funds held in multi-signature cold wallets with around-the-clock monitoring. Huobi also has a 20,000 BTC security reserve fund to reimburse users in case of a system breach.

5. Best for Exchange Rates: FTX Exchange

FTX exchange offers versatile trading options for experienced traders. FTX also offers index futures for cryptocurrencies with stable coin settlements. Lots of features help traders make the most out of crypto trading on FTX.com. There are also 0 fees when converting 1 spot asset into another.

Cryptocurrency Exchange Types

A cryptocurrency exchange is an intermediary for buyers and sellers to trade digital assets while charging a fee for this service.

A broker is a liaison between traders and the market. Using a brokerage is best when trading large sums of money due to security and liquidity factors. Brokers offer various trading mechanisms like leverage, depending on the specific broker.

One of the key differences between an exchange and a broker is that crypto holders mostly use exchanges, hold their tokens and wait for a possible price increase. Typically speculative investors use brokers and technical analysis (TA) instruments like margin trading. Naturally, they want to make quick profits, and the broker is just a medium to reach those.

Current Crypto Prices

Let’s take a look at the current price of Bitcoin and other top cryptocurrencies. With markets recovering after the depegging of Terra, many cryptocurrency investors are bullish on the asset class over the next 12 months, especially when investors try to invest at the dip.

What to Look for in a Cryptocurrency Exchange

Reputation

Reputation is 1 of the most pertinent factors when picking an exchange. You should research a cryptocurrency exchange’s reputation and read reviews.

Watch out for exchanges that don’t insure client funds, which could subject 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 the exchange charges. Costs can vary considerably depending on what exchange you use. Exchanges with limited payment options could make crypto purchases problematic.

Exchange Rates

Each exchange can provide varying rates of exchange between cryptocurrencies and national currencies. It would be best to inquire about an exchange’s bid-ask spreads before you open an account. Exchange rates have fluctuated extensively in markets, with the actual volatility depending on the currency and cryptocurrency involved.

Ease of Use

Most exchanges market towards novice investors by making their platforms easy to onboard and get started. They provide a simple program for investors new to trading crypto that’s fast, easy and secure. Some exchanges even offer users videos and live chat to walk them through the setup process.

Customer Care

You want to use an exchange that offers quality customer care. If you look through reviews, you will find quickly that some exchanges offer better client care than others. When you’re comfortable with the exchange, you’re more likely to enjoy the experience and get better results from your portfolio.

Crypto Regulation in Brazil

The Brazilian government places no restrictions on people trading and using cryptocurrencies for legal activities. Brazil’s central bank has defined its regulatory position on digital assets, warning citizens of the risks of the turbulent markets and controlling their assets.

Brazilian cryptocurrency exchanges must report all transactions to the Department of Federal Revenue of Brazil (RFB). Residents must also report all transactions higher than $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 pass the KYC process, which necessitates that you upload your ID and a utility bill on the trading platform.

Best Crypto Wallets in Brazil

A software wallet is probably the safest and most convenient way for Brazilians to store their crypto. It’s risky to leave your crypto on an exchange; in the event of a hack, you could lose your assets.

ZenGo

The ZenGo wallet allows you to trade cryptocurrencies conveniently on its built-in exchange. Sporting a sleek and easy-to-use interface, ZenGo is an excellent choice for beginners. A unique feature of ZenGo is facial biometrics, which eliminate the need for keeping track of passwords, private keystrust or seed phrases.

MetaMask

MetaMask is probably the most popular crypto wallet, with over 1 million users. As a desktop extension and a mobile app, MetaMask provides the simplest yet most secure way to connect to blockchain-based applications.

Great Opportunities to Trade Crypto in Brazil

Brazilian interest in the crypto markets has boomed recently. Day traders prefer to trade cryptocurrencies as opposed to investing in the Sao Paulo stock exchange. Suppose you’re willing to buy Bitcoin in Brazil. In that case, you can do it through plenty of cryptocurrency exchange platforms offering many different features and payment options. Getting started is simple; just choose the best crypto exchange for your needs, create an account, download a wallet and start trading. Feel free to visit Benzinga’s crypto hub to learn more about various cryptocurrency projects.

Disclosure: ²Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards. ³Crypto rewards is an optional Coinbase offer. Upon purchase of USDC, you will be automatically opted in to rewards. If you’d like to opt out or learn more about rewards, you can click here. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts

Frequently Asked Questions

Q

Is crypto legal in Brazil?

A

Yes, it is legal to buy sell and use crypto in Brazil.

Q

Is crypto profitable in Brazil?

A

Crypto can be profitable in Brazil if you research your investments and monitor your portfolio carefully.

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About Tyran Christian

His expertise is in blockchain technology and cryptocurrencies.