How To Buy Bitcoin in Mexico?

Cryptocurrency adoption is on the rise in Mexico, but buying Bitcoin and other digital assets can be confusing due to the country’s evolving regulatory landscape. This guide provides an overview of how to purchase cryptocurrency safely and legally in Mexico.

The regulation of cryptocurrencies in Mexico is still developing. In 2018, Mexico passed the Fintech Law, which formally defines virtual assets and brings them under regulatory oversight. The main authority overseeing cryptocurrency regulation is the Bank of Mexico.

Under the Fintech Law, cryptocurrencies are referred to as “virtual assets” and defined as electronically recorded representations of value used for payment, with transfers only possible electronically 3. They are not considered legal tender or currency in Mexico.

The Fintech Law also established regulations for companies facilitating transactions with virtual assets, requiring registration or licensing from financial authorities. In 2023, further regulations were introduced under the new Fintech Law, defining crypto assets as digital representations of value that can be transferred digitally.

Today, there are around 26 crypto exchanges operating in Mexico, serving an estimated 2.5% of the population that owns cryptocurrency. However, Mexico still lacks comprehensive regulations specifically for blockchain technology and cryptocurrency use cases.

When buying cryptocurrency in Mexico, it is important to use reputable, licensed exchanges and wallet providers. The Bank of Mexico does not prohibit virtual assets, but warns of risks and requires authorization for banks and financial entities dealing with them. While the regulatory environment is still developing, Mexicans are increasingly embracing cryptocurrencies.

Easiest and cheapest ways to buy crypto in Mexico

Getting bitcoins in Mexico is not an easy task as not all popular crypto exchanges are available to Mexican citizens. This is a current list of bitcoin exchanges that allow users from Mexico to buy crypto. They all support buying crypto with credit/debit cards but some of them offer other payment methods as well.

Trusted & high liquidity
How To Buy Bitcoin in Mexico?

Volabit

👛 Ease of Use – Medium
👛 Fees – Average
👛 Verification – 2-3 Days
👛 Reputation – Trusted
👛 Supported fiat – MXN

Volabit offers users in Mexico Bitcoin-based financial services.
More info +
Trusted & high liquidity
How To Buy Bitcoin in Mexico?

Mercado Bitcoin

👛 Ease of Use – Medium
👛 Fees – Average
👛 Verification – 1-2 Days
👛 Reputation – Trusted
👛 Supported fiat – BRL

Mercado Bitcoin is one of the clear leaders in the Brazilian cryptocurrency space.
More info +
Regulated & high liquidity
uphold exchanges

Uphold

👛 Ease of Use – Easy
👛 Fees – Low
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – USD, GBP, EUR + more

Launched in 2015 in New York, Uphold represents an exchange platform that supports crypto, precious metal, US equities, Forex trading, and commodity trading.
Uphold has gained popularity through its Anything-to-Anything feature that enables users to trade different types of assets. There are more than 50 cryptos supported, including majors, alt-coins, stablecoins, and emerging tokens.
More info +

Best Bitcoin Wallets in Mexico

It is never a good idea to keep your coins on an exchange as that exposes you to numerous risks (exchange hacks, fund freezes by the exchange or some government regulatory body, etc). That is why you should use one of the wallets we list below to store your digital assets.

But, which bitcoin wallet is available in this country?

The safest option is a hardware wallet like Nano X but ZenGo is also a good choice, especially for newcomers.

Bottom Line
Pros
Cons
ZenGo
Mobile
Visit Now
Bottom Line
ZenGo is an easy iOS/Android Bitcoin & cryptocurrency wallet. Getting started takes less than 20 seconds.
Pros
extremely safe as it uses biometrics for security
you can buy crypto directly from it
has savings and staking account
Cons
No major flaws
exodus wallet
Exodus
Desktop
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Bottom Line
Electrum is one of the oldest and most popular desktop multi-currency wallets which is compatible with Windows, Mac, and Linux
Pros
One of the oldest wallets in the market
you can buy and stake directly from the wallet
supports all major coins and blockchains
Cons
Not completely open source
ledger-nano-x
Ledger Nano X
Hardware
Visit Now
Bottom Line
Ledger Nano X is a leading and most secure cold storage wallet that connects to your device via Bluetooth.
Pros
Safest wallet in the market
competitive price
supports a lot of coins
you can buy directly from the wallet
stake directly from the wallet
Cons
Small display
complicated to setup for newbies

Read also:

Regulated & very safe
How To Buy Bitcoin in Mexico?

Coinmama

👛 Ease of Use – Easy
👛 Fees – High
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP, CAD, AUD

Founded in 2013 in Israel, Coinmama is one of the oldest crypto exchanges in the business. With its current headquarters in Dublin, Ireland, this centralized cryptocurrency exchange allows its users to quickly and securely buy and sell cryptocurrencies.
More info +
Regulated & high liquidity
How To Buy Bitcoin in Mexico?

eToro

👛 Ease of Use – Easy
👛 Fees – Low
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP + more

eToro is a comprehensive trading platform that provides access to a variety of financial instruments, such as stocks, ETFs, cryptocurrencies, and CFDs. The platform charges a transparent 1% fee for cryptocurrency transactions, with no fees for ETFs and stocks, although ETFs may have their own internal costs.
More info +
Established & high liquidity
How To Buy Bitcoin in Mexico?

Binance

👛 Ease of Use – Medium
👛 Fees – Low
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP, AUD, RUB

Binance was launched back in July of 2017 and very quickly became the world’s largest cryptocurrency exchange by trading volume with more than $1 billion on a daily basis.
More info +
Regulated & high liquidity
How To Buy Bitcoin in Mexico?

Kraken

👛 Ease of Use – Easy
👛 Fees – Average
👛 Verification – 2-3 Days
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP, JPY, CAD

Established in 2011, Kraken has carved a niche for itself as a trusted and reliable crypto exchange. It boasts support for an impressive roster of over 220 digital assets, encompassing major cryptocurrencies like Bitcoin, Ethereum, Cardano, and many others. Security has always been a cornerstone for Kraken, making it a go-to choice for many.
More info +
Established & high liquidity
Localbitcoins

LocalBitcoins

👛 Ease of Use – Easy
👛 Fees – Low
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP, and more

LocalBitcoins is one of the oldest P2P online marketplaces where you can buy and sell Bitcoin. It is considered the largest peer-to-peer crypto platform. LocalBitcoins is based in Helsinki, Finland.
More info +
Established & high liquidity
paxful

Paxful

👛 Ease of Use – Easy
👛 Fees – Average
👛 Verification – 1 Day
👛 Reputation – Trusted
👛 Supported fiat – USD, EUR, GBP, CAD, AUD + more

Paxful is widely considered “the Uber” of the Bitcoin world. It is a crypto exchange that is based in the US and has over 200 employees. Paxful was launched in 2015, so it has longevity on the crypto market.
More info +

Frequently asked questions about buying Bitcoin in Mexico

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Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!

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