Best Crypto Exchanges in Chile

Best Cryptocurrency Exchanges in Chile

Our team has thoroughly examined the 23 crypto exchanges available to users in Chile and has identified the top options for local traders. This evaluation focused on compliance with the Financial Market Commission (CMF) guidelines, fee structures, the variety of digital assets, and the CLP deposit methods. Below is a comparison table of the best platforms for Chilean traders.

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1. Bybit

Bybit is the leading exchange platform in Chile, and it has a multilingual interface that can be used in Spanish. The platform allows users to leverage their trades up to 100x on futures contracts, making it a top choice for those looking to maximise their profits. It offers extensive trading tools, such as advanced charting, real-time market data, and customisable indicators. 

Beyond derivatives, it supports spot trading with over 1,400 tokens and provides staking, borrowing, and lending services. Bybit has a user base of over 40 million worldwide, with daily trading volumes surpassing $25 billion. The platform offers a range of additional features, including copy trading, an NFT marketplace, a crypto Visa card, and TradeGPT. 

• Fees: Maker fee at 0.02% and taker fee at 0.055% for futures and 0.1% for spot markets.
• Supported Assets: Over 1,400 digital assets.
• Regulation & Licensing: Regulated across South America and available in Chile.
• CLP Deposit Methods: Khipu, credit cards, debit cards, bank transfers and Apple Pay.

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2. MEXC

‍MEXC is a powerful trading platform in Chile that offers high-leverage futures trading, allowing up to 200x leverage on hundreds of contracts. In addition to futures, it provides a robust spot trading platform, supporting 800 cryptocurrencies and deep liquidity. The exchange is equipped with advanced trading features, including automated trading bots and copy trading.

It attracts traders with its competitive fee structure and advanced trading options. MEXC also supports Initial Exchange Offerings (IEOs), staking services, crypto loans, Launchpad and MX Zone. The platform serves over 10 million users across Chile and 180 countries and it can be used in both English and Spanish.

• Fees: Maker fees from 0.02% to 0.06% and taker fees between 0.06% and 0.08%.
• Supported Assets: Over 800 cryptocurrencies.
• Regulation & Licensing: Licensed in Estonia and available in Chile.
• CLP Deposit Methods: Bank transfers, credit cards, and debit cards.

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3. Gate.io

Gate.io is known for offering the most diverse selection of cryptocurrencies in Chile, making it a top pick for traders who want access to a wide variety of digital assets. The platform supports over 2,100 cryptocurrencies for spot, margin, and futures trading, along with additional features such as staking, lending, and a newly launched NFT marketplace.

There are over 16 million registered users using the platform and trading over $5 billion a day. As a global exchange that can be used in 190 countries, it provides a multilingual interface that can be accessed in Spanish and live customer support in the language. Although it is not regulated in Chile, it is still available to local users.

• Fees: 0.1% for maker orders and 0.2% for taker orders.
• Supported Assets: Over 2,100 digital assets.
• Regulation & Licensing: Not directly licensed by the CMF, but is open to Chilean investors‍
• CLP Deposit Methods: Debit cards and credit cards.

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4. Kraken

Kraken is recommended for institutional investors in Chile due to its robust security features and comprehensive range of services. The platform supports 280 cryptocurrencies for spot trading, futures, and margin trading with 5x leverage. It is known for its advanced security protocols, including cold storage, two-factor authentication and regularly audited proof-of-reserves.

The institutional services include over-the-counter (OTC) trading, personalised account management, and high liquidity for large trades. Users can take advantage of the low spreads, high liquidity, and enhanced rate limits. The platform’s transparency and commitment to regulatory compliance further enhance its appeal to institutions.

• Fees: Maker fees are as low as 0.1%, with taker fees at 0.2%.
• Supported Assets: 280 spot markets and more than 100 margin markets.
• Regulation & Licensing: Compliant with international regulatory standards and available to Chilean investors.
• CLP Deposit Methods: Debit or credit cards.

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5. Uphold

Uphold is one of the most beginner-friendly exchanges available in Chile, offering a simple and intuitive interface that makes it easy for new investors to buy, sell, and hold digital currencies and other assets. The platform supports a wide range of 250 cryptocurrencies, plus traditional assets like 27 fiat currencies and four precious metals, all within a single account. 

Uphold provides complete transparency in its asset holdings, which is evident in its audited proof-of-reserves, ensuring a 1:1 backing for each digital asset. It also offers transparent pricing with no hidden fees, making it an excellent choice for those just starting their crypto journey. The exchange also has automatic trading features, allowing users to set up recurring buys.

• Fees: Features a trading fee of 1% and a spread fee of 1%.
• Supported Assets: Over 250 digital assets, 4 precious metals, and 27 fiat currencies.
• Regulation & Licensing: Meets global regulations and operates in Chile.‍
• CLP Deposit Methods: Bank transfers, credit cards, debit cards, Google Pay and Apple Pay.

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Is Crypto Regulated in Chile?

Yes, cryptocurrency is regulated in Chile, with the country taking proactive steps to establish a clear legal framework for digital assets. In 2023, Chile approved a new FinTech law that specifically includes provisions for "crypto assets," positioning the nation as a regional leader in cryptocurrency regulation. The Financial Market Commission (CMF) serves as the primary regulatory authority.

The new legislation, set to take full effect in February 2025, aims to provide legal certainty and foster innovation within the crypto industry. Under this law, cryptocurrency service providers, including exchanges and digital wallet operators, must register with the CMF and adhere to strict guidelines designed to protect consumers and maintain market integrity. 

To further ensure the security and legitimacy of the cryptocurrency market, all service providers must comply with comprehensive anti-money laundering (AML) and counter-financing of terrorism (CFT) regulations. These measures are intended to prevent illicit activities and promote transparency within the digital asset ecosystem.

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How is Crypto Taxed in Chile?

The Chilean Internal Revenue Service (SII) classifies cryptocurrencies as taxable assets, meaning that profits generated from their sale or trade are subject to tax. Instead of a specific capital gains tax, these earnings are included in the individual's or entity's overall income and taxed according to the applicable income tax bracket, which can vary depending on the total income level.

For businesses that engage in cryptocurrency transactions,  the 2020 Tax Modernization Law sets the corporate tax rate at 27%, with a reduced 25% rate for SMEs under a special regime. If cryptocurrencies are held as long-term investments, any profits realised upon their sale are still subject to income tax, reflecting Chile's comprehensive approach to taxing digital assets.

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How to Buy Bitcoin in Chile

For Chilean investors new to cryptocurrency, purchasing Bitcoin can be easily done through a trusted exchange. Here’s a step-by-step guide to help you get started:

1. Create an Account: Begin by choosing a cryptocurrency exchange that supports deposits in Chilean Pesos (CLP). Sign up for an account and complete the verification process, which usually requires submitting a photo ID and proof of residence.
2. Deposit Chilean Pesos (CLP): Navigate to the deposit section of your account, select CLP as your deposit currency, and enter the amount you wish to transfer. Deposits can typically be made via bank transfer or credit/debit card.
3. Choose Bitcoin: Go to the trading section and search for Bitcoin (BTC). You will see the current market rate for the CLP/BTC trading pair. Depending on your strategy, you can place different types of orders, such as market or limit orders.
4. Execute the Trade: When ready, click ‘buy’ or ‘trade’ to purchase Bitcoin. Review all order details, including the price and any applicable fees, before completing the transaction.

This guide provides a clear and simple approach for users in Chile to start buying Bitcoin, from setting up an account to making your first purchase.

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Bottom Line

In conclusion, Chile is supported by a growing user base and a proactive regulatory framework led by the Financial Market Commission (CMF). With increasing numbers of citizens adopting digital assets and new regulations set to take full effect in 2025, Chile offers a stable and secure environment for investors. The top exchanges are Bybit, MEXC, Gate.io, Kraken, and Uphold, which provide a wide range of features tailored to different trading needs.