Best Crypto Exchanges Mexico

Discover Mexico's elite cryptocurrency exchanges through our in-depth analysis, focusing on regulatory compliance, diverse funding options, and comprehensive trading features.

Bottom Line: For investors in Mexico, identifying a reliable exchange that complies with the country's financial regulations is crucial. To aid in this, our experts have undertaken a detailed review of the leading trading platforms, narrowing down the list to the top 5. These exchanges were evaluated on security measures, a range of Mexican Peso deposit methods including bank transfer, SPEI, credit/debit card, and their fee structures, among other factors.

After our thorough analysis, we've compiled a summary of the top 5 National Banking and Securities Commission (CNBV) regulated cryptocurrency exchanges in Mexico:

  1. eToro (Best Overall Exchange in Mexico)
  2. Binance (Best Exchange for Institutions)
  3. Bybit (Best Platform for Derivatives Trading)
  4. Bitso (Best Mexican Crypto Exchange)
  5. OKX (Best DeFi & NFT Trading Platform)
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.
eToro
Regulators:
The FinCEN, CySEC, the FCA & more.
Get Started

Make a secure transaction through the verified website URL.

Best For:
Mexican Investors & Traders
Rating:
5
out of 5

eToro is considered Mexico's top exchange by offering an intuitive platform, diverse investment options, seamless social trading features, and robust security measures, attracting both novice and experienced traders for an unparalleled experience.

Best Crypto Apps in Mexico

Our experts have meticulously crafted a ranking system to identify the leading cryptocurrency exchanges available to Mexican investors. We evaluated each platform considering critical elements such as compliance with the Comisión Nacional Bancaria y de Valores (CNBV) regulations, MXN deposit options, bilingual customer support, transparent fee structures, and a range of trading features. After thorough research and evaluation, we have identified the top five cryptocurrency trading platforms in Mexico.

1. eToro

eToro is the best cryptocurrency exchange in Mexico that stands out for its user-friendly interface and social trading features. The platform allows users to easily buy, sell, and trade a wide range of cryptocurrencies, including Bitcoin, Ethereum, and other asset classes like stocks, ETFs and commodities. Additionally, its unique CopyTrader functionality enables users to follow and replicate the trades of advanced traders, thus facilitating knowledge sharing and fostering a sense of community. This combination of accessibility, diverse asset offerings, low fees and social trading elements has made eToro the top choice for Mexican users.

  • Minimum Deposit: $500 MXN.
  • Supported Tokens: 90+ Cryptocurrencies & 3000+ other assets.
  • Language Options: Spanish & 18 other languages.
  • MXN Funding Method: Credit/Debit Card, PayPal, Neteller, Skrill & Bank Transfer.
eToro.

‍2. Binance

Binance offers an impressive range of features catering to advanced users and large-scale traders. With an extensive selection of cryptocurrencies, high trading volume, and competitive fees, it provides a robust platform for executing large transactions quickly and efficiently. Furthermore, the exchange's API integration capabilities and advanced trading tools make it a popular choice among institutional investors seeking a secure and customizable platform to meet their specific needs. As a global exchange, it supportprovides a multilingual interface, which can be used in English and Spanish.

  • Minimum Deposit: $360 MXN.
  • Supported Tokens: 350+ Cryptocurrencies.
  • Language Options: Spanish & 40 other languages.
  • MXN Funding Method: Bank Transfer, SPEI, Apple Pay, Google Pay & Credit/Debit Card.
Binance.

3. Bybit

Bybit is the best platform for trading derivatives in Mexico as it offers users a comprehensive suite of options for trading cryptocurrency futures and perpetual contracts including the ability to open positions with 25x leverage. Besides trading, it also provides staking services, a crypto card, lending and borrowing options, an NTF marketplace and more. The platform's focus on derivatives trading and its robust security measures make it the best choice for Mexican traders seeking to enhance their trading capabilities. It can also be used in Spanish and provides live customer support in the language.

  • Minimum Deposit: $200 MXN.
  • Supported Tokens: 980+ Cryptocurrencies.
  • Language Options: Spanish & 21 other languages.
  • MXN Funding Method: Credit/Debit Card, Bank Transfer, SPEI, Maestro & Google Pay.
Bybit.

4. Bitso

As the best Mexico-based crypto exchange, Bitso caters specifically to the needs of users within the country. Supporting the Mexican Peso, it allows users to seamlessly trade popular cryptocurrencies like Bitcoin and Ethereum directly against their local currency. This focus on providing a tailored, accessible platform for Mexican traders has solidified Bitso's position as the top choice for users seeking a crypto exchange built around their unique requirements. The only downside of the platform is its limited crypto offerings and lack of features compared to other options in this list.

  • Minimum Deposit: $1000 MXN.
  • Supported Tokens: 40 Cryptocurrencies.
  • Language Options: Spanish & English.
  • MXN Funding Method: Bank Transfer.
Bitso.

5. OKX

Earning the title of the best DeFi & NFT trading platform in Mexico, OKX offers a comprehensive and cutting-edge platform for users interested in decentralized finance and non-fungible tokens. With an extensive selection of DeFi applications and an NFT marketplace, OKX users can easily explore these emerging sectors while benefiting from the platform's advanced trading tools and competitive fees. Additionally, the exchange offers a range of yield farming and staking opportunities, allowing users to maximize their returns in the rapidly evolving DeFi landscape.

  • Minimum Deposit: $900 MXN.
  • Supported Tokens: 300+ Cryptocurrencies.
  • Languages: Spanish & 21 other languages.
  • MXN Funding Method: Credit/Debit Card.
OKX.

How Does the CNBV Regulate Crypto?

The primary regulatory body for cryptocurrency in Mexico is the Comisión Nacional Bancaria y de Valores (CNBV). Digital asset exchanges and wallet providers operating in Mexico are required to register with the CNBV and adhere to its regulations, including strict anti-money laundering (AML) protocols. Compliance with these regulations is mandatory for legal operation within the country. The exchanges highlighted in our analysis are fully registered and compliant, ensuring they operate within the legal framework established in the country.

Do you have to Pay Tax on Crypto in Mexico?

Yes, in Mexico cryptocurrency transactions are subject to various tax implications and is overseen by the Mexican Tax Administration Service (SAT). Capital gains tax applies to profits from crypto trading, with the rate depending on the individual's total income tax bracket. Unlike a fixed percentage, it aligns with the progressive income tax rates in Mexico. Additionally, crypto assets are considered part of an individual's net worth for tax purposes.

Mexican residents who use cryptocurrency as payment for goods or services are subjected to the standard VAT (Value Added Tax) rate of 16%. It's essential for residents to declare all their crypto-related earnings and holdings in their tax filings, including those in international exchanges or wallets, to ensure compliance with Mexican tax laws and avoid potential legal consequences.

Fees to Buy Crypto in Mexico

When considering investing in digital currencies such as Bitcoin in Mexico, understanding the various fees associated with using an exchange is essential. For those new to the crypto scene, here are the types of fees you might encounter when using a trading platform:

  • Deposit Fees: The cost of transferring funds into an exchange from your Mexican bank account can vary. While bank transfers in MXN are often free, using credit cards or digital payment methods might incur a small charge.
  • Trading Fees: This fee is incurred when you exchange your Mexican Pesos for a cryptocurrency like Bitcoin. Typically, the trading fee is around 1% of the total transaction value on most platforms.
  • Withdrawal Fees: If you decide to move your assets from the exchange to your personal bank account, there is usually a nominal fee for this service.
  • Account Fees: Major platforms like Bitso or Binance don't charge a monthly service fee, but some smaller or less known exchanges in Mexico may have a maintenance fee.

‍The Bottom Line

The cryptocurrency trading landscape in Mexico is vibrant and diverse, with a selection of leading platforms that cater to different investor needs. eToro, Binance, Bybit, Bitso, and OKX are the top five digital asset exchanges in Mexico, each excelling in unique areas such as user-friendliness, institutional services, derivatives trading, local offerings, and DeFi & NFT trading respectively.

When selecting a platform, Mexican investors should consider factors such as supported tokens, deposit methods, user interface, fees, and regulatory compliance. It's also important to note that cryptocurrency trading is both legal and taxable in Mexico, under specific regulations and tax laws. As such, Mexican crypto enthusiasts are encouraged to continue exploring this exciting domain within the framework of their country's regulations.

FAQs

No items found.

Read Next

Other Posts

Learn about Upbit, a leading crypto exchange based in South Korea with operations in Singapore, Indonesia, Thailand, and its position on U.S expansion.
Crypto
June 25, 2023

Upbit Available Countries