Cryptocurrency adoption in South America has surged in recent years, driven by economic volatility, inflation, and a growing appetite for digital assets. According to Chainalysis, centralized exchanges (CEXs) dominate the region, making them a popular entry point for many users. Here are some of the top crypto exchanges active in South America, along with what makes them attractive for users in the region.
Mercado Bitcoin is Brazil’s largest homegrown crypto exchange and one of the most trusted platforms in Latin America.
Deep Local Integration: Supports Brazilian Real (BRL) deposits and withdrawals via PIX, TED, and DOC, making fiat on-ramps seamless for Brazilian users.
Wide Asset Range: Offers over 330 cryptocurrencies.
Additional Services: Beyond trading, Mercado Bitcoin provides staking, crypto-backed loans, real-world asset tokenization, and a “digital fixed income” product.
Regulatory Credentials: It has secured a payment provider license from Brazil’s Central Bank, which strengthens its reliability and compliance.
Trading fees are relatively higher (maker 0.30%, taker 0.70%) according to some reports.
Interface primarily in Portuguese, which may limit accessibility for non-native speakers.
Ripio is a major Argentina-based fintech that operates across many Latin American markets, including Brazil, Chile, and Mexico.
Local Currency Support: Enables users to trade using local fiat currencies in many countries.
Strong Regional Presence: Since its founding in Argentina, Ripio has expanded across South America, making it a well-known regional brand.
Partnerships: It is integrated with Mercado Pago (MercadoLibre’s fintech arm) for certain services, and supported Meli Dólar (a dollar-backed stablecoin) launch.
Asset selection may be more limited compared to global exchanges.
Liquidity may be lower for some altcoins, depending on the country.
Buda.com is a regional exchange with a strong presence in Chile, Colombia, Peru, and Argentina.
Security Focus: Reportedly keeps 90% of its crypto holdings in cold storage, ensuring strong asset protection.
Fiat Options: Allows deposits and withdrawals in local currencies like the Colombian peso, Argentine peso, Peruvian sol, and Chilean peso.
User-Friendly: The platform is designed for both beginners and advanced users, offering multiple order types.
Limited to a relatively small number of cryptocurrencies compared to major global exchanges.
No margin or leverage trading available (focuses on spot trading).
Binance, while a global exchange, plays a major role in Latin America due to its fiat on-ramps for many countries in the region.
Wide Selection: Offers hundreds of cryptocurrencies, along with diverse trading products like spot, futures, and options.
Local Fiat Support: Supports local currencies in many South American markets through P2P, enabling users to trade with their national currencies.
Strong Liquidity & Security: High trading volume and advanced security features, making it a reliable choice.
Withdrawals to local banks or fiat may have variable fees depending on the country.
Regulatory risks can vary significantly across Latin American countries.
Foxbit is one of Brazil’s oldest crypto exchanges, founded in 2014.
Local Expertise: Deep roots in the Brazilian crypto ecosystem, trusted by local users.
BRL Trading: Supports Brazilian real transactions, making it convenient for local traders.
Accessibility: Its long-standing presence makes it a popular choice for Brazilian users looking for a domestic platform.
Fewer cryptocurrency options compared to global platforms.
May lack some of the advanced features (like derivatives) offered by larger exchanges.
Strong Regulatory Tailwinds: Centralized exchanges dominate the Latin American crypto market. According to Chainalysis, more than 60% of crypto activity in the region occurs on CEXs.
Fiat Integration: Exchanges like Mercado Bitcoin and Buda offer native fiat on-ramps (via PIX, local bank transfers, etc.), which simplifies crypto access for users in Brazil, Argentina, Peru, and other countries.
Local Adoption: Argentina and Brazil are major markets for crypto in South America.
Economic Use Cases: Many South American users view crypto as a hedge against inflation or currency devaluation — making reliable local exchanges crucial.
KYC and Compliance: Use exchanges that comply with local regulations and require proper identity verification.
Fees: Check trading, deposit, and withdrawal fees — they can vary significantly across platforms.
Liquidity: For altcoins, make sure the exchange has enough trading volume to avoid slippage.
Security: Prefer exchanges with strong security practices (cold storage, 2FA, proof-of-reserves).
Fiat Support: If you plan to use local currency, pick an exchange that supports your country’s fiat via bank transfers or local payment methods.