It supports 100+ cryptocurrencies, and users can trade with 2x leverage on crypto (up to 500x leverage on other assets). With El Salvador announcing that bitcoin will now be accepted as a legal tender, finding a wallet that you can use to store your bitcoin is crucial. Trust Wallet is the best bitcoin wallet that you can get in El Salvador for both iOS and Android phones. All leading digital currencies can be
securely stored and managed with Trust Wallet.
Knowledgeable investors looking for crypto trading, top-level security and derivatives. Deposits and withdrawals are always free with Capital, and you’ll never pay trading commissions regardless of whether you place spot orders or limit orders. Capital is ISO certified for meeting robust information security standards, making it an extremely safe platform to trade with. Yes, popular Bitcoin futures exchanges like Binance, Bitmex, and Deribit enable users to long or short BTC with up to 100x
leverage. For complete custody of your Bitcoin or other cryptocurrencies it is recommended to store them in a
hardware wallet as it keeps private keys safe and entirely offline. After buying bitcoin from an exchange, it’s important to withdraw to your own non-custodial wallet for security, privacy, and to have full control over your bitcoin.
CEX is authorized as an MSB by FinCEN and has a Level 2 PCI DSS data security clearance. CEX shows a required level of security and due diligence for storage, processing and transmission of payment card data. Public offerings may be made by issuers using existing digital assets, with the opportunity to create new ones through them, the law indicates.
Best Crypto Exchanges In El Salvador (May
Bybit is a crypto exchange with a wide range of trading tools, and it is one of the few exchanges that offers access to crypto derivatives, such as futures. Its trading fees start at 0.1%, and withdrawal fees vary depending on the cryptocurrency. Originally, Coinbase only supported Bitcoin, but it now supports over 100 of the biggest cryptocurrencies like Bitcoin, Bitcoin Cash, Cardano, Ethereum, and Litecoin. As a new user, you will receive a $10 bonus, and trading fees range from $0.99 to $2.99 for trades below $200 and from 1.49% to 3.99% for trades over $200.
Coinmama is the perfect choice to buy bitcoin with credit & debit card. Find the best and most-trusted Bitcoin and cryptocurrency
wallets that work for you. Most exchanges will let you buy as little as a few dollars worth of bitcoin, or any other cryptocurrency.
- Transactions are completed within seconds when you exchange from bitcoin (BTC) to EUR Bank Transfer, MasterCard, US Bank Transfer or VISA in El Salvador and vice versa.
- Now you can exchange, convert or trade your bitcoin in El Salvador to any payment method in a fast, easy and secure way provided by Pursa Exchange.
- The bill, backed by ruling party lawmakers allied with President Nayib Bukele, aims to attract national and foreign investors.
- As an avid crypto investor myself, I diligently keep up with the movements of the top exchanges in El Salvador, and have made my selections below based on years of research and personal experience.
- Coinbase was designed to be one of the easiest places to buy, sell, and trade cryptocurrency, and it serves retail investors, businesses, and institutions alike.
- CEX is authorized as an MSB by FinCEN and has a Level 2 PCI DSS data security clearance.
Given that El Salvador is largely a cash economy, the adoption of bitcoin as legal tender will help spur the power and potential of bitcoin. In
addition, its everyday use is expected to benefit businesses, individuals, and public sector services in the Latin American country. Kraken’s fees range from 0.16% for makers to 0.26% for takers and decrease if you’ve traded more than $50,000 in the previous 30 days. It provides price data for digital assets to the Bloomberg Terminal and is accessible in more than 175 countries, making it one of the most international crypto exchanges worldwide. With millions of active users, an international market, and strategic investors on board, Kraken, joins Coinbase and Binance to become the big three cryptocurrency exchanges in the global market.
Bitcoin is an open, decentralized peer-to-peer payment network that enables anyone in the world to send, store, and receive money in digital form. Bit2Me supports over 70 of the largest cryptocurrencies, including Bitcoin, Bitcoin Cash, Dash, Ethereum, and Litecoin. It allows fiat-to-crypto purchases so it’s ideal for new investors looking to buy their first crypto, and assets are kept offline in cold storage, for added security. The Bitcoin network operates on tens of thousands of distributed devices, such as PCs as desktop wallets, smartphones as mobile wallets, and ASICs used in mining cryptocurrency. Bitcoin miners secure the network by deploying computing power to verify and process transactions as part of the network’s Proof of Work (PoW) consensus protocol.
Is Bitcoin a Legal Tender in El Salvador?
Every user receives a dedicated account manager they can reach by email or phone anytime, which is part of the reason Capital’s customer support team receives such positive reviews. Choosing the best cryptocurrency exchange in El Salvador isn’t easy, given all the options out there and the different features each of them offers. As an avid crypto investor myself, I diligently keep up with the movements of the top exchanges in El Salvador, and have made my selections below based on years of research and personal experience. Download Trust Wallet for Bitcoin The mobile app works with several crypto tokens and blockchain wallets.
Bitcoin is the world’s leading cryptocurrency that first appeared in 2008 when its pseudonymous creator, Satoshi Nakamoto, published a whitepaper detailing the project on a cryptography mailing list. In January 2009, the Bitcoin network launched when the genesis block of the Bitcoin blockchain was mined. A few days later, the first transaction took place between Satoshi Nakamoto and renowned cypherpunk Hal Finney.
Receive, send, store and exchange your cryptocurrency within the mobile interface. Changelly offers two-factor authentication and an HTTPS security protocol. No user funds are stored by Changelly as all coins sent are processed to be exchanged and transferred to user wallets. The leading cryptocurrency breached the $21,000 at one point, but recently fell below $16,000 thanks to the fallout from the FTX calamity.
- El Salvador allegedly holds 2,381 BTC at an average buying price of $43,357, according to data from Buy Bitcoin Worldwide.
- Kraken’s fees range from 0.16% for makers to 0.26% for takers and decrease if you’ve traded more than $50,000 in the previous 30 days.
- As a new Bit2Me user, you will receive a €5 bonus after your first purchase, and with its referral program, you can earn up to $1,000 by inviting friends and family.
Coinmama is a leading cryptocurrency exchange that allows you to buy and sell bitcoin and other cryptocurrencies with a credit card and/or bank transfers. Since its foundation in 2013, it has grown to serve over 2 million customers across 188 countries and today has over 40 employees. Coinmama is a really simple exchange, which makes a perfect platform for safe, secure and quick transactions. In June 2021, El Salvador’s president announced the new law, allowing for bitcoin to be legal tender. Currently, only about 30% of the country’s citizens have a bank account or credit card.
To begin buying bitcoin and other cryptocurrencies you will need to link a bank account or credit card to the exchange. Binance provides 2-factor authentication and offers both multi signature wallets and cold storage options. This is giving El Salvador more incentive to buy bitcoin on the dip, emboldening the country’s leadership to continue its support for the leading cryptocurrency. Late last year, bitcoin became recognized as legal tender for the country as the cryptocurrency was experiencing bullish highs that saw it climb upwards of $69,000.
Cex.io started in 2013 as a Bitcoin exchange and cloud mining provider which has since become a multi-functional exchange, trusted by over half a million users. The exchange has developed a multi-level account system with an individual approach to each customer, from Bitcoin beginners to institutional traders. Worldwide coverage, multiple payment options, and 24/7 support are accompanied by time-proven platform stability that guarantees the safety of assets and data.
Kraken provides cryptocurrency to fiat trading and provides price information to Bloomberg Terminal. In February 2019, Kraken announced that it had raised $100 million in a direct offering to its largest customers at a $4 billion valuation. Capital allows users to trade crypto alongside stocks, commodities, forex, market indices, ETFs and more—all without any trading fees.
What is the best crypto exchange for day trading in El Salvador?
Founded in 2011, Kraken supports 87+ cryptocurrency assets and various order types (including stop loss and stop-limit orders). As a US-based exchange, Kraken has to meet extremely demanding security protocols, making it a highly secure exchange. Bybit supports 15 of the largest cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. Additionally, it stores 100% of your funds in cold storage, and reviews each withdrawal request to prevent unauthorized transactions. Coinbase was designed to be one of the easiest places to buy, sell, and trade cryptocurrency, and it serves retail investors, businesses, and institutions alike. The sign-up process is quick, and after you create your account, you will gain access to your personal online wallet.
Depending on the payment method, it could take anywhere from a couple of minutes to days for the funds to arrive at the exchange. Both exchanges are considered to be beginner-friendly and offer multiple deposit methods and a variety of cryptocurrencies. The exchange you choose will be interoperable with most devices, desktop and mobile, and will allow you to withdraw to your own personal hardware wallet. Bukele’s office did not immediately respond to a request for comment asking whether the new legislation would apply to the launch of Bitcoin Volcano Bonds that the president announced in late 2021. Buying and Selling bitcoin with United States Dollar (USD) is going to continue to grow in El Salvador, along with cryptocurrency, blockchain and other non-valuable crypto buzz words.
Kraken offers a staking platform on 17 assets (including the US dollar). However, at a maximum APY of 23%, it pays lower interest than some other staking providers (e.g., just 0.25% APY on Bitcoin). Investors looking to invest in their first crypto and looking for a secure platform.
You also have the option to place up to 100x leverage on your crypto trades. Here are my top picks for the best crypto exchanges El Salvador has to offer. Capital is the favorite among knowledgeable Salvadoran crypto investors, both for its high level of security and for its ease of use.
El Salvador has 5 trusted exchanges available for you to sign up for, with the most popular being Binance and Kraken, which account for a combined 99,000,000 active users. Today El Salvador builds on our first-mover advantage by passing landmark legislation establishing a legal framework for all digital assets that are not bitcoin. BITO provides the gateway for investors who want crypto exposure to diversify their assets but still want to remain within the safe confines of a regulated market. While the crypto market is growing and the government is looking into shoring up its regulatory structure, BITO can give investors the regulated crypto exposure they desire. The nation has reportedly spent roughly $103.23 million on its Bitcoin purchases to date.
Requirements to buy cryptocurrency in El Salvador
After signing up to an exchange you will need to verify your identity and address, which is part of the Know Your Customer (KYC) process. This is an unavoidable legal requirement for almost all exchanges in El Salvador. The first step is to register with a platform, app or exchange and complete a Know Your Customer (KYC) process. Buying bitcoin and other cryptocurrencies in El Salvador is a simple process and usually takes less than 10 minutes to get fully setup. On November 17, Bukele announced that his government would buy one Bitcoin a day, without specifying for how long. Nonetheless, President Bukele shared on Twitter a message from the country’s Bitcoin office saying the law also paves the way for the acquisition of $1bn in “crypto bonds” or “volcano bonds”.
However, with the leading cryptocurrency trading around $16,500, this means the actual value of its stash sits at $39.47 million, implying losses of more than $63 million. Pursa is the best place to buy and sell bitcoin instantly in El Salvador with EUR Bank Transfer, MasterCard, US Bank Transfer or VISA. Now you can trade your bitcoin in El Salvador to EUR Bank Transfer, MasterCard, US Bank Transfer or VISA in a fast, easy and secure method provided by Pursa. Its mobile app is very easy to use, has a nice, modern interface, and has very good ratings and reviews on both the Apple App Store and the Google Play Store. If you live in a country like Equatorial Guinea or Egypt instead, you’ll have to double-check to ensure you can get the Capital app in your local app store. As a new Bybit user you’ll receive a $40 bonus after funding your account.
What’s the best crypto wallet in El Salvador?
As a new Bit2Me user, you will receive a €5 bonus after your first purchase, and with its referral program, you can earn up to $1,000 by inviting friends and family. The biggest drawback of Capital is that it can take several days to have your account verified since their verifications team is overwhelmed with signups right now. If you sign up using my referral link, though, you can skip the waitlist and start trading immediately. Bitcoin ATMs are an excellent way to buy bitcoin using cash and offer little to no requirements for
KYC. ATMs are commonly located inside of convenience stores, shops, restaurants, malls or airports.