How to safely buy Bitcoin in (2021)
Learn how to buy Bitcoin in Brazil safely and quickly through our trusted exchanged affiliates and partners. Review and compare the top Bitcoin exchanges in Brazil to get started.
How to buy Bitcoin in Brazil
Buying Bitcoin in Brazil is much easier than many think. It is as simple as picking an exchange, creating an account, depositing money and clicking "buy Bitcoin".
Where to buy Bitcoin
Review and compare the best cryptocurrency exchanges below to find the fastest and most secure way to make your first Bitcoin purchase in Brazil. Buy Bitcoin Finder gives order placement preference to exchanges located in Brazil, or exchanges that enable the smoothest verification for citizens of Brazil.
Brazil's leading and local Bitcoin exchange
Mercado Bitcoin is a leading Bitcoin and cryptocurrency exchange that is native to Brazil. Mercado Bitcoin boasts over 1.5 million users and accepts Brazillian Real (BRL) deposits and withdrawals.
Mercado Bitcoin is known for its quick and easy platform for Brazilians to buy and sell Bitcoin
Pros
- Local exchange in Brazil
- Low fees
- Fast onboarding
Cons
- Limited payment methods
Best in class for security and data protection.
Kraken was founded in mid-2011 by long time Bitcoin advocate Jesse Powell and has grown to become one of the world's largest exchanges. Based on volume alone, they are the largest exchange in Europe and the UK.
Kraken is one of the most trusted exchanges worldwide.
Pros
- Very low fees for traders. 0.25% maker and taker fees
- Best in class for security and data protection
- Great volume for traders needing liquidity
Cons
- User interface can be confusing to newbies
Access to Bitcoin across most European countries
Bitpanda is a Bitcoin and crypto broker that is based in Austria, Europe. The exchange has become extremely popular across Europe and is available in most countries. Bitpanda is well designed, easy to use and offers managed wallets to hold your Bitcoin.
Bitpanda has a wide variety of payment methods for users, including credit and debit cards, Skrill, SEPA, and online bank transfer.
Pros
- Clean and easy to use interface
- Available across most of Europe
- Trusted brand
Cons
- Fees are included in buy price, so not transparent
The premier exchange for Bitcoin traders
Binance is arguably the world’s largest Bitcoin and cryptocurrency exchange. They offer the best platform for crypto to crypto trades if you are looking to boost your Bitcoin holdings and stack some satoshi’s.
Buy Bitcoin Finder recommends Binance as the best place to trade Bitcoin against other cryptocurrencies for the lowest fees and the deepest liquidity. Binance also offer a Bitcoin Futures trading platform with up to 125x leverage.
Pros
- The best exchange in the world to trade cryptocurrency
- Binance offers margin trading and perpetual futures
- Easy to use interface for new traders
Cons
- Fees for day traders can get expensive if you do not trade using Binance coin
Invest in Bitcoin with a Debit Card or Credit Card Instantly
Coinmama allows users from any country around the world to buy Bitcoin, Ethereum and Chainlink using their exchange. They are one of the few exchanges that allow Credit Card and Debit Card purchased for Bitcoin and crypto using Visa and Mastercard.
If you are a customer in Europe, you can also buy Bitcoin with a SEPA transfer for a lower fee. Coinmama is an extremely private and secure option to invest in Bitcoin as they will send it to your personal Bitcoin wallet, as opposed to having the Bitcoin or cryptocurrency on a managed and less secure wallet on their platform.
Pros
- Purchase crypto with a Debit Card and Credit Card
- Highest limit to invest in Bitcoin using a Credit Card
- Reliable and trustworthy exchange
Cons
- Relatively high fees when using a Debit Card or Credit Card
Peer to peer (P2P) Bitcoin exchange
Local Bitcoins is a decentralized exchange that acts as an escrow service to facilitate peer to peer buys and sells of Bitcoin by allowing users to list their own Bitcoin advertisements or trades.
Users can choose to meet and pay in person or online, making Local Bitcoins the most private way to buy Bitcoin. Local Bitcoins facilitates transactions in Australia, New Zealand, United Kingdom, United States, South Africa and virtually every other country around the world.
Pros
- The best choice for privacy
- Requires no personal information
- Instant purchases available with cash
Cons
- Users must be careful of scams
- Slightly higher Bitcoin price than exchanges
Popularity of Bitcoin in Brazil
Bitcoin has been extremely popular in Brazil since the 2017 bull market. Notably, trading volume of Bitcoin in Brazil had actually surpassed the national stock market in late 2017 and early 2018.
Despite the incredible growth of Bitcoin popularity in Brazil, the national government decided not to interfere much in the ecosystem, which spurred growth over the following years.
Tax treatment of Bitcoin Brazil
Recently, Brazil's tax regulatory authority (Department of Federal Revenue of Brazil) released draft regulations on Bitcoin and cryptocurrency taxation. According to this report, exchanges in Brazil are now required to send a detailed outline of their cryptocurrency operations on a month by month basis, this includes transaction amount on Bitcoin and other crypto, as well as customer identification information. Equally, traders who are individuals or operating under a company and are residents of Brazil, must report their trading activity if it surpasses $2,700USD (10,000 Brazilian Reals) per month and are conducted on overseas exchanges.
Traders who fail to report such transactions will be subject to a fine. Additionally, those who unreasonably delay tax declarations end up paying 1,500 Brazillian Reals as a small fine.
With respect to the treatment of cryptocurrencies such as Bitcoin - Brazil now taxes the purchase and sale of crypto as goods. This ultimately means that they are subject to income tax between 15% and 22% from gains based from trading at a profit. Beyond this guidance there is not much more clarity on regulation of Bitcoin and cryptocurrency.