Best Crypto Exchanges in Mexico

Best Cryptocurrency Exchanges in Mexico

Our team has tested the 21 crypto exchanges available in Mexico to identify the top options. This evaluation considers compliance with the Comisión Nacional Bancaria y de Valores (CNBV) regulations, Mexican peso (MXN) deposit methods, trading fees, supported assets, and features. Below is a comparison table of the top 5 platforms for Mexican investors.

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1. Bybit

Bybit is the top crypto exchange in Mexico, offering access to over 1,500 cryptocurrencies for spot trading with low fees. It supports options and futures trading on over 400 derivatives contracts with leverage up to 200x and advanced trading tools like TradeGPT, copy trading, and trading bots. It serves over 55 million users across Mexico, and the platform can be used in Spanish.

For those interested in passive income, Bybit Earn provides flexible savings accounts, staking, and dual asset options with up to 320% APY. Additional features include the Bybit Card for everyday purchases, an NFT marketplace, and a demo account for risk-free practice. The exchange also posts real-time proof of reserves updates to ensure all assets are backed on a 1:1 basis.

• Fees: 0.1% for spot trading, 0.02% maker or 0.055% taker fees for derivatives.
• Supported Assets: Over 1,500 cryptocurrencies.
• Regulation & Licensing: Globally licensed and accessible in Mexico.‍
• MXN Deposit Methods: SPEI, bank transfer, credit card, debit card, Apple Pay, Google Pay, Mercadopago and more.

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‍2. Kraken

Kraken is recommended for high-net-worth individuals in Mexico, offering over 290 digital currencies for trading with deep liquidity and a wide selection of advanced trading options. It provides multiple tools for professional traders, including a powerful Kraken Pro interface, an OTC desk, custodial and non-custodial staking, and the Kraken Wallet for on-chain management.

Beyond spot trading, Kraken also offers over 100 futures contracts, providing leverage options up to 5x. For users interested in staking, it delivers staking solutions for institutions, enabling them to earn passive income on a range of proof-of-stake assets. The platform also features an NFT marketplace with zero gas fees and 24/7 Spanish-speaking customer support.

• Fees: Maker fees start at 0.16%, while taker fees begin at 0.26%.
• Supported Assets: Over 290 cryptocurrencies.
• Regulation & Licensing: Kraken is regulated across the Americas and available in Mexico.
• MXN Deposit Methods: Bank transfers, credit cards and debit cards.

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3. OKX

OKX is a leading exchange specializing in decentralized finance (DeFi) with its own blockchain, OKT Chain, which is powered by its native token, OKB Coin. The platform provides users with various tools to engage with 350 digital assets for spot and futures trading, an NFT marketplace, and a DeFi wallet, OKX Wallet, that can be connected to over 100 networks for easy access to dApps. 

The platform is built with institutional-grade infrastructure, featuring ultra-low latency API connectivity and sub-account management for users needing advanced trading solutions. For Mexican traders, OKX offers live customer support in Spanish and English and accepts deposits in MXC through local payment methods.

• Fees: Spot trading fees start from 0.1%.
• Supported Assets: Over 350 cryptocurrencies.
• Regulation & Licensing: OKX operates under OKX Bahamas FinTech Company Limited and is licensed in Mexico.
• MXN Deposit Methods: Credit card, debit card, Apple Pay, and Google Pay.

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4. Binance

Binance is the world’s largest exchange, trusted by over 235 million users across Mexico and 100 other countries. It allows users to trade more than 350 cryptocurrencies on its Spot, Margin, and Futures markets. For those new to crypto, it provides educational resources through its Academy and a user-friendly mobile app, making it easy to buy crypto directly with MXN.

It also offers several earning opportunities, such as Binance Earn, where users can stake or save assets for interest, and the Binance Launchpad, a platform for acquiring new tokens. The NFT marketplace allows customers to trade, stake, and even lend NFTs. Binance provides 24/7 customer support in more than 45 languages, including Spanish and English.

• Fees: Trading fees start at 0.1% with additional discounts for using BNB.
• Supported Assets: Over 350 cryptocurrencies.
• Regulation & Licensing: Binance operates under Bmex Techfin, S. de R.L. de C.V., registered with the Tax Administration Service (SAT) for Vulnerable Activity.
• MXN Deposit Methods: Debit and credit cards.

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5. Bitso

Bitso is based in Mexico City and is the country’s largest crypto exchange, offering a regulated platform for users to invest in 50 digital assets. With a focus on local needs, it allows users to deposit in Mexican pesos (MXN). The platform’s intuitive interface makes it easy for beginners to get started with as little as $10, while advanced tools like Bitso Alpha cater to experienced traders.

Bitso’s “Earnings” product allows users to earn up to 4% interest on stablecoins like USDC and USDT, credited weekly. It is also known for its transparency, offering proof of reserves to verify the security of funds and operating under financial licenses in Mexico, Argentina, and Brazil. With local support and international certifications, Bitso is trusted by millions across Latin America.

• Fees: Competitive trading fees start at 0.1%.
• Supported Assets: Over 50 cryptocurrencies.
• Regulation & Licensing: Licensed and regulated locally in Mexico, Argentina, and Brazil; certified by the Gibraltar Financial Services Commission (GFSC).
• MXN Deposit Methods: Bank transfers, debit and credit cards, and SPEI.

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Is Crypto Regulated in Mexico?

Yes, crypto regulation in Mexico is primarily overseen by the Comisión Nacional Bancaria y de Valores (CNBV), in collaboration with Banco de México (Banxico). This regulatory framework aligns with the country’s Fintech Law, which sets standards to ensure transparency, anti-money laundering (AML) measures, and consumer protection across crypto platforms operating in Mexico. 

Under these regulations, digital asset exchanges and wallet providers in Mexico must adhere to strict guidelines that promote both innovation and consumer safety. This oversight aims to create a secure environment for investors and businesses.

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How is Crypto Taxed in Mexico?

In Mexico, cryptocurrency transactions are subject to general tax principles under national law rather than a specific regulation. The Servicio de Administración Tributaria (SAT) oversees crypto taxation, treating digital assets as personal property. Digital asset gains are taxable as part of income tax (ITAX), with a standard 16% value-added tax (VAT) also applied to transactions.

When individuals exchange crypto for fiat currency or other assets, they incur ITAX of up to 35% on any capital gains. Mexican residents must report these gains, while foreign residents are taxed on crypto income sourced within Mexico. Individual transactions may require a 20% withholding tax when the buyer resides in Mexico.

For businesses, crypto income is generally taxed on a monthly accrual basis and can be up to 30%, with applicable deductions based on national tax laws. Certain activities like mining and staking, although not explicitly addressed in Mexican law, are typically taxed as income. Mining income, for example, incurs VAT if carried out within Mexico.

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How to Buy Bitcoin in Mexico

Mexican investors interested in purchasing Bitcoin can start by choosing a reputable exchange that supports Mexican peso (MXN) deposits and adheres to the Comisión Nacional Bancaria y de Valores (CNBV) regulations. Follow this guide to get started:

1. Create an Account: Sign up with an exchange that adheres to CNBV regulations. Begin by entering your basic information, such as your name and email, then complete identity verification by uploading an ID, like your passport or Mexican voter ID (INE).
2. Deposit MXN: Head to the deposit section on your dashboard, enter the number of Mexican pesos (MXN) you want to invest in and select your payment method.
3. Find Bitcoin: Navigate to the trading section, type “BTC” in the search bar to locate Bitcoin, and choose the MXN/BTC trading pair. Input the details of your transaction.
4. Execute the Trade: Confirm the amount of Bitcoin you want to purchase, review the transaction details, and complete your purchase.

This guide walks you through each step, from account creation to completing your first Bitcoin transaction, offering an accessible starting point for new investors in Mexico.

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Bottom Line

Selecting the best crypto exchange in Mexico depends on your specific trading goals and the features you prioritize. For Mexican users, we recommend platforms that align with CNBV regulations, such as Bybit, Kraken, Bitso, Binance, and OKX.

These platforms cater to different experience levels and offer a range of tools, ensuring that Mexican investors can trade confidently.