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How to Buy Cryptocurrency in Mexico

Cryptocurrencies Mexico

The cryptocurrency market has gained popularity in various parts of the world over the past few years. North America remains one of the leading continents in the crypto market, and Mexicans have warmed up to these new investment instruments. 

Do you wish to find out how and where to buy cryptocurrency in Mexico? If so, then this is the right guide for you as it will discuss not only the right platforms but also various payment options. We will take you through the entire process of buying cryptocurrencies, focusing our attention on the Mexican cryptocurrency market.

Quick Guide to Buy Cryptocurrency in Mexico Today

1

Register with a crypto exchange or broker

Choose a cryptocurrency broker or exchange and sign up with them. You will be required to provide an email address, username or mobile number to create an account. ID verification is also necessary after opening your account since the platforms are operating within the purviews of the law.

2

Fund the trading account

The next step is to select from a range of payment methods such as credit/debit card or bank transfer. Fund the trading account and use the money to buy or trade any of the various cryptocurrencies available on the platform. Keep in mind that there may be deposit limits in place when you first open your account.

3

Buy cryptocurrency

There are thousands of cryptocurrencies available for you to buy. However, each platform offers a limited number of coins. Choose the cryptocurrency you wish to buy from the crypto exchange or broker and look for the “Buy (COIN)” option or the appropriate pair. Input the amount of the coin you wish to purchase or the equivalent fiat currency amount and buy the cryptocurrency.

What is the Best Payment Method for Buying Cryptocurrency in Mexico?

There are various payment methods available to Mexican traders and investors, and the best one depends on the user’s preference. The payment method you will use depends on your needs and priorities at that time.

In Mexico, virtually all cryptocurrency payment options are available to traders. The most popular ones include:

  • Buy Cryptocurrency with Cash: You can buy cryptocurrencies anonymously via peer-to-peer exchanges.

  • Buy Cryptocurrencies with Credit Card: Credit card is the most used option because it is fast and secure. However, it requires higher transaction fees.

  • Buy Cryptocurrency with Bank Transfer: This method is safe, secure and commands low fees. However, the transaction could take days to be completed.

  • Buy Cryptocurrency with PayPal: This method is convenient but only available on certain P2P platforms.

  • Buy Cryptocurrency with Bitcoin: You can buy other cryptocurrencies with Bitcoin.

Why Buy Cryptocurrency?

Buying cryptocurrencies is a personal choice of an investor or trader. However, over the past decade, no financial asset class has experienced massive growth as compared to crypto. Bitcoin was introduced in 2009 and was trading for a few cents. Fast forward a decade later, and its price reached an all-time high of $65,000 earlier this year. The astronomical growth experienced by Bitcoin wasn’t seen in any stock, forex currency, or commodity in the past decade.

By 8 May, 2021, Dogecoin’s price was up by over 6,000%  since the start of the year. No other financial asset class can deliver the profits generated by cryptocurrencies. Beyond the price rally experienced at various stages since 2009, cryptocurrencies are solving real-world problems and serving various functions.

Ethereum, one of the leading cryptocurrencies, has seen its blockchain network become the most important. The network houses numerous decentralised applications. The features of the blockchain, such as transparency, speed and scalability, are attracting traditional financial institutions to the industry.

So far, numerous companies are accepting cryptocurrencies as a means of payment. The cryptocurrency market took a giant step earlier this year when El Salvador officially made Bitcoin a legal tender. This is the first time Bitcoin is recognised as a legal tender in any country in the world. With El Salvador’s adoption, some countries such as Paraguay, Argentina and a few others are looking at Bitcoin in a positive light and are working on rolling out favourable regulations.

Hence, when you look at cryptocurrencies, you will see financial assets that deliver excellent profits to investors over time, the technologies behind them have massive real-world usage and currencies that continue to gain adoption from countries, retail and institutional investors.

Is it Legal to Buy Cryptocurrency in Mexico?

Yes, it is legal to buy cryptocurrencies in Mexico. Like most countries, profits earned from cryptocurrency trading and investments are subject to capital gains in Mexico. However, the tax only applies after you have sold the cryptocurrency and earned a profit.

Despite the legality of buying cryptocurrencies in Mexico, we always advise readers to trade or buy from regulated brokers and exchanges. Buying from regulated platforms helps you avoid any potential legal complications that could lead to your loss of funds or personal data. Since the assets are taxable, we recommend keeping an account of your purchases to make it easier for reporting purposes.

Buy Crypto in Mexico Today!

Where Can I Use Cryptocurrency in Mexico?

The adoption of cryptocurrencies is growing in Mexico. As such, there are numerous businesses accepting cryptocurrencies like Bitcoin and Ether in Mexico. Some of these places include Tabita Reposteria y Comida Gourmet, Librerias Gandhi, El Diablo y la Sandia, India Gate, Rearquitectura, Mobla, Fantastico Comics, Vallarta.Photo and more.

There are Bitcoin ATMs in twelve locations in Mexico. Four in Mexico City, Tijuana (3), Culiacán (2), Guadalajara (1), Monterrey (1) and Santiago de Querétaro (1). 

Our Recommended Best Way to Buy Cryptocurrency in Mexico

We have conducted a lot of research to present you with an extensive list of some of the best cryptocurrency platforms to buy cryptos in Mexico. Below is our choice for the most secure, convenient and reliable way to buy cryptocurrency in Mexico.

1
Min. Deposit
$10
Promotion
User Score
10
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Start Trading
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Bank Transfer, Wire Transfer
Full regulations list:
CySEC, FCA

Frequently Asked Questions

  1. Yes, financial education is very important when it comes to trading and investment. Ensure you learn as much as possible about a cryptocurrency project before you invest.

  2. We didn’t find any cryptocurrency exchange currently supporting PayPal deposits in Mexico.

  3. Mexicans can buy cryptocurrencies from crypto trading platforms. Regulatory agencies in the country monitor and manage the activities of the cryptocurrency market.

  4. If you are new to the market, you can use either exchanges or brokers. The choice depends on your investment goal. If you wish to deal with the actual coins and benefit from holding, storing or sending them to others, you can use exchanges. However, if you are only interested in the price performance and don’t want to be saddled with storing the coin, brokers are your best option.

  5. Cryptocurrencies are safe as long as you stick to using regulated platforms. The regulated exchanges and brokers offer the needed security to ensure your funds and personal data remain safe always.

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