Cryptocurrency exchanges are platforms that allow you to trade cryptocurrencies. Buying, selling, or exchanging digital assets are operations that can be carried out on these platforms.
Choosing among the best cryptocurrency exchanges is a fundamental step to being able to exchange your digital currencies in a simple and functional way.
In fact, there are many platforms on the market that offer this service and it may not be easy to identify the one that best suits your needs and also your level of expertise in the sector.
Very often, moreover, these platforms can present security problems or commissions that it is good to know and weigh in order not to make a hasty choice.
In this guide, we delve into which are the best crypto exchange in Brazil 2023.
Although there are different rankings to crypto exchange platforms, the following commonly appear in all the lists as part of the best cryptocurrency exchange in Brazil. They are the best known and have several years of experience in the sector.
What is the best crypto exchange in Brazil?
Speaking of Binance, it is worth mentioning Changpeng Zhao, who is one of the founders of the exchange. In social networks, he received the nickname "CZ" and very quickly became the owner of millions. Thanks to his leadership and thoughtful actions, Binance has grown into one of the largest cryptocurrency exchanges in the world in just 6 months.
Today, this exchange has become very popular due to a reliable security system, as well as management protocols that create protection for the user's personal data and funds stored in the account. Account holders are free to choose the appropriate cryptocurrency to store in crypto wallets, or they can go through a mandatory second-level verification process to verify their identity in order to be able to engage in a token sale.
Despite all the efforts spent on creating a security system, you should not think that the stored assets are 100% protected. In 2017, there was a hacker attack during which user accounts were hacked. Approximately 7,000 bitcoins were stolen from them. Binance promptly fixed the security issues and also reimbursed customers through an insurance fund.
Since then, there have been no repeated cases of hacking, and the exchange has earned a reputation as a reliable platform for transactions with cryptocurrencies. A system of two-factor authentication and customer identification was developed, which brought Binance to the forefront in terms of security.
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The Binance cryptocurrency catalog is one of the largest. Binance has more than 20 digital assets that you can trade. One of the advantages of Binance is that it adds cryptocurrencies to its list, it is not static and it is up to date with the latest news.
The types of cryptocurrencies you will find on Binance are:
- Binance Coin
- USD Coin
- Binance USD BUSD
- wrapped bitcoin
- SHIBA INU
- Chain link
The Binance card allows you to make purchases with cryptocurrencies, in the same way, that a classic bank card does, but your account balance will be deducted in the cryptocurrency of your choice. However, the merchant receives the money in local currency since an automatic conversion of your cryptocurrencies to fiat money (euros for example) is made.
The Binance Card has no processing or administration fees. It is characterized by the fact that the exchange is made with the transaction and allows to obtain up to 8% accumulated of the value of accumulated purchases. Do not be afraid of purchases because they are safe and protected by Binance systems.
Binance welcomes regulations in the industry and has always worked collaboratively with regulators all over the world.
Binance fees are basically divided into two types. On the one hand, they set a series of commissions for trading and on the other for withdrawal and deposit, which will vary depending on the type of cryptocurrency.
As you will see in the table, the commissions differ in the price for "makers" and for "takers". The first are those that enable a new sale proposal of a currency for a certain value in the market. The "takers" would be those who "take" said proposal, accepting it and executing it in the values proposed by the "makers".
Binance customer support relies heavily on the platform's online chat. Binance does not have a phone number that you can call to request this service but it does have three email addresses depending on your need: [email protected], [email protected], and [email protected]
Pros & cons of Binance:
- Two separate trading platforms, basic and advanced
- Popularity (Binance has 8M followers on Twitter)
- Staking opportunity
- Alternatives such as debit card, liquidity swap, margin trading, stock tokens, cryptocurrency loans, and savings accounts
- Paying lower transaction fees with BNB coin
- Having too many coins
- Regulatory problems experienced by Binance in various countries
If you are interested in Binance, you can create an account using the link below.
Kraken was founded in 2011 and launched in 2013. Kraken exchange is an online platform based in the United States and whose main mission is to allow the purchase and sale of cryptocurrencies through the Internet.
Through Kraken we can invest in different pairs of cryptocurrencies, being able to track each transaction, as well as the histories. They work with private investors and private institutions of different sizes.
While some users have seen their accounts compromised over the years (usually after not enabling two-factor authentication) there has been no record of Kraken falling victim to a major heist. Also, two-factor authentication is now mandatory.
Regardless of this, Kraken CEO Jesse Powell advises people not to store crypto on Kraken or any other crypto exchange.
It was the first exchange in the world to produce cryptographic proof of its reserves, and you can verify that Kraken is fully backed (since its last audit). It is possible to verify that your cryptocurrency was included in the latest audit on your Kraken account.
The main cryptocurrencies in Kraken, with which we can operate through buying and selling, are the following:
- Bitcoin (BTC)
- Tether (USDT)
- Ethereum Classic (ETC)
- Ethereum (ETH)
- Monero (XMR)
- Augur (REP)
- Ripple (XRP)
- BitcoinCash (BCH)
- Tezos (XTZ)
- EOSIAN (EOS)
- Litecoin (LTC)
- Cardan (ADA)
- Tron (TRX)
- Dash (DASH)
- USDC (USDC)
- Chainlink (LINK)
Kraken is based in Canada and is registered as a money service business in the United States under the name of its parent company, Payward Inc.
Kraken's opening and closing fees are as listed in the table below . These fees are charged when a new trade is opened with any cryptocurrency. Similarly, the closing rate implies a % for each certain period of time in which the operation remains open.
For example, if it is a Bitcoin trade, on a trade open for eight hours, a 0.02% closing fee will be charged.
We can contact Kraken through the form on the official website, but only English is available as the language of communication.
We can also talk through the chat that we will find at the bottom right of the page, but the answers are offered by an automatic assistant.
Pros and Cons
- Large selection of digital assets.
- Low fees for advanced traders.
- Limited options for funding accounts.
Interested in Kraken? You can create an account using the link below.
Brian Armstrong and Fred Ehrsam, who worked as software developers for companies like IBM and Airbnb, founded Coinbase in 2012. Headquartered in San Francisco, California, the US giant currently operates in 102 countries.
Since then, it has grown to have 70 million users and was publicly traded as of early 2021.
Its mission? Making cryptocurrency transactions easy and secure: buying, managing, trading, and archiving.
Coinbase's success may be due in part to the range of 100 cryptocurrencies available to users and, more recently, the launch of Coinbase Pro, a subscription that provides users with professional cryptocurrency traders.
Compare Coinbase's 24-hour trading volume, at the time of writing to the tune of $3.21 billion, to Gemini, and you'll see the sizeable difference. However, which platform is the best should not be dictated by the number of users alone.
Coinbase is well known for its range of products. Coinbase's cryptocurrency catalog is one of the largest on the market. At Coinbase you find the cryptocurrency you are looking for. Some of the types of cryptocurrencies available on Coinbase are:
- chain link
The Coinbase card is one of the few options offered by the market to pay with cryptocurrencies in stores. Of course, the businesses do not receive the cryptocurrencies but legal tender, an automatic conversion of the cryptocurrency that we choose to the local currency is made.
The Coinbase card is characterized by being a Visa card accepted throughout the world and that allows you to choose which cryptocurrency you pay with, with instant conversion of the cryptocurrency to the local currency. This card has a 1% commission on payments and you can withdraw cash at ATMs with a monthly limit of $200.
Coinbase Wallet is another of the products offered by this platform. Basically, it is a digital wallet to store cryptocurrencies, it is a safer place against hacking than any cryptocurrency exchange.
Through the Coinbase Wallet, the user can access their cryptocurrencies and make unlimited shipments. In addition, with this platform you can make purchases in stores that accept cryptocurrencies.
Coinbase complies with all applicable laws and regulations in each jurisdiction in which it operates. United States Coinbase, Inc., the company which operates Coinbase and GDAX in the U.S., is licensed to engage in money transmission in most U.S. jurisdictions.
Coinbase commissions apply to the purchase and sale of cryptocurrencies, by credit or by transfers to other Coinbase users. The type of commission and its value will depend on the action you perform. For example, the commission for the purchase of cryptocurrencies is 1.49%, although that commission goes up to 3.99% if that purchase is made with a card.
If you need to contact Coinbase customer service, you should keep in mind that there is no phone number for it. However, you can use the alternative: email. In addition, Coinbase has profiles on social networks such as Twitter or Facebook but does not offer customer support.
Pros and Cons
- Very responsive customer support
- Wide range of products
- Low minimum to fund account.
- Higher fees than other cryptocurrency exchanges.
Interested in Coinbase? You can create an account using the link below.
Although the exchanges presented in this article are not the only ones that operate in Brazil, they are some of the most popular and with the highest trading volume in the South American country.
Similarly, we invite you to carry out in-depth research on each of them so that you can choose the exchange of your choice.
Best Crypto Exchanges in Brazil 2023
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