Buy Bitcoin in Brazil

Bitcoin & Cryptocurrency Trading in Brazil

Bitcoin is legal in Brazil, and there are no restrictions on individuals buying, selling, or using cryptocurrencies for non-criminal purposes. There is also no taxes levied on bitcoin transactions, but gains of over BRL of 35,000 per month are taxed at capital gains rates.

In April 2022, the Brazil Senate approved the first bill to regulate the cryptocurrency market in Brazil. Normally this might spell issues for crypto purchasers, but that doesn't appear to be the aim of the bill. The executive branch of the government will be responsible for the rules on crypto-assets. The government is interested in developing and giving incentives to increase its presence and exposure to crypto. There is a tax exemption on the import of mining devices into the country and the desire is to increase the mining of bitcoin in Brazil.⁽²⁾

Still, Brazil's Central Bank has twice outlined its regulatory position on Bitcoin and other digital assets. The Bank warned of the speculative nature of cryptocurrency trading (particularly pertinent in November 2017 when the second statement was released) and the risks inherent to self-custody of funds.⁽³⁾

4. Companies that negotiate or store so-called virtual currencies on behalf of users, natural or legal persons, are not regulated, authorized or supervised by the Central Bank of Brazil. In the legal and regulatory framework related to the national financial system, there is no specific provision on virtual currencies. The Central Bank of Brazil, in particular, does not regulate or supervise transactions with virtual currencies.

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7. Although virtual currencies have been the subject of international debate and manifestations by monetary authorities and other public authorities, the need to regulate these assets has not been identified to date. In Brazil, for the time being, there are no relevant risks for the National Financial System.

8. Finally, the Central Bank of Brazil affirms its commitment to support financial innovations, including those based on new technologies that make the financial system more secure and efficient.

Banco Central do Brasil Comunicado n° 31.379 de 16/11/2017

The Brazilian authorities are warning users that crypto is an "at your own risk" type of game. If you're willing to accept the risks in exchange for the independence and opportunities that Bitcoin offers, read on to find out more about Bitcoin in Brazil.

One of the easiest ways to buy Bitcoin in Brazil is through cryptocurrency exchanges. There are several exchanges offering Bitcoin in Brazil, allowing you to select one based on your requirements and preferences using our list outlined above. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be considered before selecting one.

Additionally, Bitcoin buyers need to keep in mind that certain exchanges might require you to get a wallet of your own before being able to buy the digital currency. Even if there is no requirement, it is recommended to have a wallet of your own for security reasons (preferably a hardware wallet). If you don't have a wallet, refer to our guide on the Best Bitcoin and Cryptocurrency Wallets to choose one.

Exchange Hacks and Crypto Scams in Brazil

As with any new and easily misunderstood technology - especially one that has shown tremendous investment returns over the last decade - there have been a range of scams and hacks in Brazil relating to Bitcoin.

One recent scam involved fraudsters contacting their marks via social media, who they then attempted to convince to invest in Bitcoin. The scam's 5,000 victims were promised daily returns of three to four percent - too good to be true. When the "investors" tried to withdraw their funds, the scammers simply disappeared.

Police allege that they stole as much as BRL$1.5 billion (US$ 350 million). Perhaps that's why they took 50 SWAT officers, 20 vehicles, and a helicopter with them when they arrested the alleged scammers in December 2019.

In light of the rampant cryptocurrency scams in Brazil, the government opened a formal inquest into the problem in October 2018.

A contributing factor was the August 2018 hack of Atlas Quantum, at the time Brazil's largest crypto exchange. The hack exposed the personal information of more than 264,000 customers, including names, phone numbers, mail addresses, and account balances.

User funds, however, were not touched. Atlas Quantum released a statement on Facebook confirming the hack and promising to initiate a full investigation.

Still, the hack did little to improve consumer confidence in an industry that has faced its fair share of obstacles in Brazil.

These exchange hacks and crypto scams underscore the importance of doing your due diligence on exchanges and investment opportunities, as well as holding your own private keys. Centralized exchanges all have centralized points of failure, an ironic feature considering that Bitcoin is built on a model of trust-less decentralization. Allowing others to purchase cryptocurrency for you, especially cold-callers you have never met, is a surefire way to lose your money.

Bitcoin ATMs in Brazil

Sheraton WTC SP Hotel

ATM located at Lobby Restaurante.

Av. das Nações Unidas
12551 - Brooklin Novo, São Paulo - SP, 04578-903
Brazil

24/7

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Olliv Bitcoin ATM

Olliv Bitcoin ATM

Av. Paulista
854 - Bela Vista
São Paulo - SP, 01311-100
Brazil

Mon - Sat 9:00 AM - 8:50 PM
Sun 12:00 PM - 5:00 PM

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Rio_ViaParque

ATM located at Rio_ViaParque in Rio de Janeiro.

Av. Ayrton Senna
3000 - Barra da Tijuca
Rio de Janeiro, 22775-904
Brazil

Mon - Sat 10:00 AM - 10:00 PM
Sun 12:00 AM - 10:00 PM

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Norte Shopping

ATM located at Norte Shopping in Rio de Janeiro.

Av. Dom Hélder Câmara
5474 - Cachambi
Rio de Janeiro - RJ, 20771-004
Brazil

Mon - Sat 9:00 AM - 8:50 PM
Sun 12:00 PM - 5:00 PM

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