Best Crypto Exchanges in Peru

Best Cryptocurrency Exchanges in Peru

We have examined the 23 cryptocurrency platforms operating in Peru and identified the leading platforms for local traders. Our selection process considered compliance with the Financial Intelligence Unit (UIF), fee structures, supported cryptocurrencies, features and PEN deposit methods. Below is a comparison table of the top 5 exchanges for Peruvian users.‍

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1. Bybit

Bybit is the best global exchange, attracting 39 million users from Peru and 160 other countries. It is known for its high liquidity, offering a daily trading volume of over $25 billion. Multiple order types are available, including spot, futures, and options trading on over 1,200 digital assets. Due to its global accessibility, the interface can be used in Spanish, and it accepts PEN deposits.

In addition to trading, it also features several staking options, crypto loans, an NFT marketplace, copy trading services, and a crypto debit card, making it a comprehensive platform. Bybit takes transparency seriously and regularly publishes its proof-of-reserves to show all users funds are held on a 1:1 basis and always accessible.

• Fees: Maker fee of 0.02%, taker fee of 0.055% for futures, and 0.1% for spot trading.
• Supported Assets: Over 1,300 digital assets.
• Regulation & Licensing: Complies with Peruvian regulations and globally regulated.
• PEN Deposit Methods: Bank transfer, credit card, debit card, Apple Pay, Google Pay, Samsung Pay, SEPA and Plin.

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2. Kraken

Kraken is known for its rigorous compliance with global regulatory standards, ensuring that users' assets are protected and transparent. The exchange undergoes regular external audits of its crypto holdings. It supports 280 cryptocurrencies to trade on spot and futures with 5x leverage. Its commitment to transparency extends to its fee structure and operational practices.

It offers an intuitive trading platform with advanced charting tools, making it suitable for beginners and professional traders. The platform includes various staking options, allowing users to earn up to 28% APY rewards on 30 tokens. With 24/7 customer support and full Spanish language availability, Kraken is well-suited to meet the needs of Peruvian traders.

• Fees: Maker fee of 0.16%, taker fee of 0.26% for spot trading.
• Supported Assets: Over 280 cryptocurrencies.
• Regulation & Licensing: Registered as a Money Services Business with FinCEN (No. 31000270997766) and available in Peru.
• PEN Deposit Methods: Credit card and debit card.

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3. MEXC

MEXC is recommended for Peruvian traders seeking high leverage in futures trading. It offers some of the highest leverage options in the market, supporting hundreds of futures contracts with up to 200x leverage. The exchange supports 1,300 digital assets, with over 800 available for trading across various markets.

Beyond its leverage offerings, MEXC provides a comprehensive suite of trading tools and analytics. The platform also includes staking options, copy trading, a demo account and a mobile app. Its focus on providing a high-performance trading environment and its competitive fee structure make it a popular choice.

• Fees: Maker fee of 0.02%, taker fee of 0.06% for futures trading.
• Supported Assets: Over 800 digital assets.
• Regulation & Licensing: Operates under international regulatory standards and is available in Peru.
• PEN Deposit Methods: Bank transfer, credit card and debit card.

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4. Gate.io

Gate.io is celebrated for its extensive selection of cryptocurrencies, offering over 2,100 digital assets for spot and derivatives trading with up to 100x leverage. This makes it the ideal choice for traders looking to explore a wide range of altcoins and meme coins. It is equipped with advanced trading features, including copy trading services and an OTC desk.

In addition to its diverse crypto offerings, Gate.io provides various investment products such as staking, lending, and liquidity mining, enabling users to earn passive income on their holdings. The exchange is known for its low fees and comprehensive security measures, including two-factor authentication and cold storage for user assets. 

• Fees: Flat trading fee of 0.2%.
• Supported Assets: Over 2,100 digital assets.
• Regulation & Licensing: Globally regulated and registered in Peru.
• PEN Deposit Methods: Bank transfer, credit card, debit card, Apple Pay and Google Pay.

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5. Gemini

Gemini is the preferred platform in Peru for institutional investors and traders seeking a regulated environment. Founded by the Winklevoss twins, it is known for its commitment to compliance and security. It offers a robust platform designed to meet the needs of institutional clients, including advanced trading tools, custody services, and an OTC desk.

The platform provides a user-friendly interface and is known for its transparent fee structure. It supports a range of 200 cryptocurrencies and offers features such as staking and earning options, allowing users to grow their assets securely. With full regulatory compliance in the U.S. and a growing presence in international markets, Gemini is a trusted choice.

• Fees: Maker fee of 0.25%, taker fee of 0.35%.
• Supported Assets: Over 200 cryptocurrencies.
• Regulation & Licensing: Fully compliant with U.S. regulations and available in Peru.
• PEN Deposit Methods: Credit card and debit card.

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‍Is Crypto Regulated in Peru?

Yes, cryptocurrency is legal in Peru, and recent developments have introduced stricter regulations. On July 27th, a presidential decree required all cryptocurrency exchanges operating in Peru to register with the Financial Intelligence Unit (UIF) and comply with anti-money laundering (AML) reporting obligations. This move aligns with international standards set by the Financial Action Task Force (FATF) to combat money laundering and terrorism financing.

In parallel, Peru is advancing a cryptocurrency bill through its legislature, aiming to establish a clear regulatory framework for Virtual Asset Service Providers (VASPs). The bill mandates that VASPs be legally domiciled in Peru, implement cybersecurity measures, and adhere to AML/CTF procedures. However, the bill has faced some criticism for its limited scope and lack of clear consumer protections.

These regulatory changes reflect Peru's effort to create a safer and more transparent environment for cryptocurrency use, with ongoing discussions expected to shape the final framework.

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How Is Crypto Taxed in Peru?

In Peru, crypto transactions are subject to taxation, and the Superintendencia Nacional de Aduanas y de Administración Tributaria (SUNAT) oversees this process. When cryptocurrencies are sold, traded, or used as payment, they are considered taxable assets. Profits from these activities must be reported as part of the taxpayer’s income, with applicable tax rates depending on the individual’s overall financial situation.

Currently, Peru does not have a specific tax framework for cryptocurrencies, but capital gains from crypto transactions are generally treated similarly to other financial assets. The exact tax obligations can vary based on the nature of the transaction and the holding period of the asset.

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How to Buy Bitcoin in Peru

‍For Peruvian investors new to cryptocurrency, understanding the process of purchasing Bitcoin through a digital asset exchange is essential. Follow this guide to get started:

1. Create an Account: Visit a reputable Peruvian exchange and sign up for an account. Complete the verification process by providing a photo ID, and if required, a selfie or proof of address.
2. Deposit Peruvian Soles (PEN): Navigate to the deposit section of your account, select PEN as your deposit currency, and enter the amount you wish to transfer. You can complete the transaction using a bank transfer, local payment methods, or a credit card.
3. Choose Bitcoin: In the trading section, search for Bitcoin (BTC). Select the PEN/BTC trading pair to view the current market rate. Review the available trading options, such as market and limit orders.
4. Execute the Trade: Click 'buy' or 'trade' to purchase Bitcoin. Enter the amount of Bitcoin you want to buy or the PEN amount you're willing to spend. Review the order details, including price and fees, and execute the trade.

This guide provides a step-by-step approach for users in Peru to start trading Bitcoin, covering every aspect from account creation to completing a trade.

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Bottom Line

In conclusion, cryptocurrency is growing in Peru, and choosing the right exchange is essential. Bybit, Kraken, MEXC, Gate.io, and Gemini each cater to different needs, from high-leverage trading to secure institutional options. With recent regulatory changes, these platforms provide reliable and compliant solutions for trading and investing in digital assets in Peru.