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Buy Crypto in Brazil

Buy Crypto in Brazil

Adrian Graham
Fact Checked
Jan 4, 2023

Summary: The best way to buy Bitcoin and cryptocurrencies in Brazil is with a Central Bank of Brazil (Banco Central do Brasil) licensed exchange. With this method, customers can deposit Brazilian Real (BRL) via bank transfer, debit card or credit card to safely invest in digital currencies.

Our top pick for Brazilian investors is Bybit. Their platform offers fast and cheap BRL deposits to trade 300+ cryptocurrencies with low fees and low minimum deposit requirements. Their platform is licensed, regulated and provide audited proof-of-reserves to highlight that customer deposits are always safe.

Table of Contents

Best Crypto Exchange in Brazil

Platform Highlights

  • Fast and cheap Brazilian Real (BRL) deposits from any Brazilian Bank or Payment Method.
  • Trade 300+ Cryptocurrencies with low fees starting at 0.1% for Spot and 0.075% for Futures.
  • Non-KYC exchange with proof-of-reserves that show customer funds are backed 1:1.
Bybit - Brazil
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Audited Proof of Reserves
Audited Proof of Reserves

Is Crypto Legal in Brazil?

Cryptocurrencies are legal in Brazil and can be bought, sold, and traded by individuals and businesses. However, the Central Bank of Brazil has established some rules and regulations for the use of cryptocurrencies in the country. For example, it is illegal to use cryptocurrencies as a means of payment for goods and services in Brazil.

In addition to the regulations set by the Central Bank of Brazil, there are also tax laws that apply to the use of cryptocurrencies in Brazil. The Brazilian Internal Revenue Service (Receita Federal) has issued guidance on the tax treatment of cryptocurrencies, stating that they are subject to capital gains tax when they are sold or traded.

How to buy Crypto and Bitcoin in Brazil

As mentioned above, the best way to buy cryptocurrencies in Brazil is with a regulated trading platform.  We recommend ByBit, which is licensed and trusted by over 20 million users around the world and is the most popular trading platform in Brazil. Their exchange offers fast and reliable BRL deposits to trade 300+ digital currencies with low fees and minimum deposit requirements.

You can get started in 4 simple steps with our guide:

  1. Create a free account on Bybit with your email address and create a password.
  2. Tap 'Buy Crypto', then 'One-Click Buy' and select 'BRL' as your fiat currency.
  3. Select a deposit method and the cryptocurrency you want to invest in.
  4. Input the amount of BRL you want to spend on your token and tap the 'Buy' button.
Deposit BRL to buy Crypto in Brazil.
Deposit BRL to buy Crypto in Brazil.

How is Crypto Taxed in Brazil?

In Brazil, the tax treatment of cryptocurrencies is determined by the Brazilian Internal Revenue Service (Receita Federal). According to guidance issued by the Receita Federal, profits from the sale or trade of cryptocurrencies are subject to capital gains tax. The tax rate for capital gains on the sale or trade of cryptocurrencies is 15% for individuals and 22.5% for corporations.

Best Alternative Exchanges in Brazil

For investors looking to do more due-diligence, we have outlined 5 of the best alternative exchanges to Bybit in Brazil. These platforms are all equally as safe and hold similar regulatory  credentials, but offer different features for those who wish to explore.

  1. Mercado Bitcoin: Mercado Bitcoin is one of  the oldest Bitcoin exchanges in Brazil; it has been operating since 2013. The platform offers a secure platform to buy, sell and trade cryptocurrencies with fees as low as 0%.
  2. Binance:  Binance is the world's leading cryptocurrency exchange, offering over 300 coins and tokens to trade with low fees. On Binance, customers can deposit BRL via bank transfer (TED) in minutes.
  3. CoinBR: CoinBR is a cryptocurrency exchange based in Sao Paulo, Brazil. The platform allows users to buy, sell and trade digital currencies with BRL or USD deposits in 1 click.
  4. Bitcambio: Bitcambio is a Brazilian cryptocurrency broker located in Sao Paulo, Brazil. The platform offers easy, fast and secure way to buy cryptocurrencies with BRL deposits.
  5. Foxbit: Foxbit is a regulated and licensed digital asset exchange based in Rio de Janeiro, Brazil. Customers can buy Bitcoin and other cryptocurrencies with BRL deposits.
Mercado Bitcoin - Brazil's Largest Exchange.
Mercado Bitcoin - Brazil's Largest Exchange.

How is Crypto Taxed in Brazil?

In Brazil, the tax treatment of cryptocurrencies is determined by the Brazilian Internal Revenue Service (Receita Federal). According to guidance issued by the Receita Federal, profits from the sale or trade of cryptocurrencies are subject to capital gains tax. The tax rate for capital gains on the sale or trade of cryptocurrencies is 15% for individuals and 22.5% for corporations.


Final Thoughts

Cryptocurrencies are legal in Brazil and can be bought, sold, and traded by individuals and businesses. To buy cryptocurrencies in Brazil, we recommend using a regulated trading platform such as ByBit. In addition to this, it is important for investors to understand the tax regulations that apply when trading cryptocurrencies in Brazil. Following these simple steps will ensure your safety when investing in cryptocurrencies.

Adrian Graham

Co-Founder & former banker turned Full-Time DeFi analyst and researcher. Left traditional finance to pursue my interest in digital assets and decentralized finance.

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