Buy Crypto in Brazil

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.

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.

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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.

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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.

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

In conclusion, buying and trading cryptocurrencies in Brazil is legal and regulated by the Central Bank of Brazil, but there are rules and regulations that users must follow. To safely invest in digital currencies, it is recommended to use a licensed exchange that accepts Brazilian Real (BRL) deposits via bank transfer, debit card or credit card.

Bybit is the best option for Brazilian investors as it offers fast and cheap BRL deposits to trade over 300 cryptocurrencies with low fees and low minimum deposit requirements. Other reputable alternatives include Mercado Bitcoin, Binance, CoinBR, Bitcambio, and Foxbit. It's important to note that profits from the sale or trade of cryptocurrencies are subject to capital gains tax in Brazil.