Crypto in Brazil: The Ultimate Guide

The Brazilian cryptocurrency market is one of the most dynamic industries in South America, and one of the top ten crypto markets in the world. Close to a fifth of Brazilian citizens already own at least one cryptocurrency, and that figure is growing rapidly.

Dollar-pegged stablecoins like Tether (USDT) and Circle (USDC) are extremely popular, and are said to account for the majority of crypto use in the country. So if you’re wondering how to buy Bitcoin, Tether or Circle with the Brazilian Real (BRL), this is the article for you.

We also discuss how to mine cryptocurrency, the tax implications of holding or mining cryptocurrency, and how to purchase non-fungible tokens (NFTs). With this ultimate guide from Ledger Academy you can level up your crypto knowledge today.

How to Buy Crypto and Bitcoin in Brazil

Want to buy cryptocurrencies such as Bitcoin or some dollar-pegged stablecoins with the Brazilian Real? Read on.

Buy Crypto in Brazil: Step-by-Step Guide

There are multiple options for buying crypto in Brazil. Signing up for an exchange is a popular choice.

Step 1: Choose a crypto exchange 

If you’re seeking to buy cryptocurrency in Brazil there are numerous choices available to you. One option is to use a centralized exchange (CEX). 

Some Brazil-based options are Mercado Bitcoin, Foxbit and NovaDAX. There are also international exchanges such Coinbase and Binance which operate in the region. Which exchange you choose is a matter of preference and taste.

We will give a run down of some of the top choices later in this piece.

Step 2: Register and complete the KYC process

To sign up to a centralized exchange in Brazil users must submit documents to confirm their identity. This is done as part of Anti-Money Laundering (AML) and Know Your Customer (KYC) legislation.

The first step is to submit basic information about yourself including your full name, date of birth, home address and contact details such as email and in many cases a phone number. You will also be asked to submit your eleven digit Cadastro de Pessoas Físicas (CPF) number.

To confirm your identity it is necessary to submit some form of personal ID to the exchange. This may come in the form of your passport, driver’s licence, or national ID card. Sometimes a document proving your current residence may also be requested, as may a selfie holding your ID.

As part of the regulatory landscape in Brazil the Brazilian Central Bank (BCB) monitors exchanges for suspicious activity related to money laundering and crime.

Step 3: Deposit funds

In Brazil, the most popular method of depositing funds into a CEX is with the Central Bank’s instant payment system Pix.

Once you’ve logged into your CEX, navigate to the appropriate area of the site. Depending on your exchange this section might be labelled Wallet, Assets, Deposit or Fund.

Select BRL as the deposit currency and PIX as the payment method. Generate the code either as a QR or PIX code number. Then head to your banking app and enter the QR or PIX code in the app. Finally, select the amount you wish to transfer and confirm the transaction.

Your CEX should be funded within a matter of seconds.

Step 4: Choose the crypto you want to buy

There are so many cryptocurrencies you can choose to buy in Brazil, and which you go for is up to you. The most popular coins include Bitcoin (BTC), Ethereum (ETH) and Solana (SOL) but there are many more available.

Memecoins such as Dogecoin (DOGE), Fartcoin (FARTCOIN), Comedian (BAN) and Fwog (FWOG) are also available. Just remember to always Do Your Own Research (DYOR) before you buy any crypto.

Securely Store Your Crypto and Bitcoin in Brazil

While exchanges remain popular, they are not the most secure to buy or manage your digital assets. With CEXs, you lose the control over your private keys and subsequently lose the ownership of your digital assets. This means that in case the exchange goes bankrupt or is hacked, you risk losing your assets.

Storing crypto assets securely

In August 2022, the Brazilian crypto lending platform BlueBenx reported a $32 million hack. In response, BlueBenx immediately laid off most of its staff and prevented its customers from withdrawing their funds. BlueBenx later changed its story, saying it was the victim of a token listing scam.

Quite how BlueBenx managed to confuse a scam with a hack is another matter entirely. Whatever the truth of the situation, the incident served to remind Brazilian investors that money held by third-parties is never truly safe.

The different types of self-custody wallets

A self-custody wallet is the best way to take ownership and responsibility for your crypto assets.

Two types of self-custody wallets exist. Software wallets and hardware wallets. Software wallets such as apps and browser extensions are safer than exchanges, but are still prone to attack vectors such as malware due to the fact they are connected to the internet.

Hardware self-custody wallets such as the Ledger Stax or Ledger Flex are by far the most secure way to store your cryptocurrency.

Alternative way to Buy Crypto in Brazil with direct Self-Custody

The Ledger ecosystem offers you a way to not only secure your assets but also engage with them. You can buy, sell, swap, stake, and manage your crypto with Ledger Live. 

Step 1: Set up your Ledger self-custodial wallet

First you need to purchase your Ledger Stax or Ledger Flex. Simply Add to Cart and Checkout.

Install the Ledger Live app supported on Windows, Mac, Linux, Apple or Android.

Connect your Ledger device to your laptop or desktop. Click Get Started and then Initialize As New Device. Set a PIN and record your 24 word recovery phrase.

Step 2: Install apps and create accounts

Next up it’s time to create the accounts you’ll need for any cryptocurrency you wish to hold. On the left of your Ledger Live screen click Portfolio, then Add Account.

For Bitcoin install the Bitcoin app. For Ethereum or an ERC20 token install the Ethereum app. For Solana or an SPL token install the Solana app and so on.

Step 3: Buy crypto via Ledger Live providers

Ledger partners with third-party providers who facilitate the purchase of cryptocurrencies with the Brazilian Real. 

First, go to the Buy/Sell page. Then click on Find the Right Provider For You. From the list of available cryptocurrencies choose the coin you wish to purchase. Confirm the amount you wish to purchase and select Brazil.

Select a payment method and click Find Eligible Providers. Shop around to find the best provider for you, and then complete the purchase.

Top 5 Crypto Exchanges & Apps in Brazil for 2025

Some of the best options for buying stablecoins and crypto in Brazil this year.

Ledger Live

• No of currencies: 15,000+
• KYC required: Ledger Live can be used without KYC, but service providers may require KYC information.
• Trading Fees: Ledger Live is free, but network fees will still apply
• Deposit Fees: No
• Withdrawal Fees: No
• Pros: Ledger Live is your one stop shop for purchasing cryptocurrency, allowing you to buy, trade and hold your coins safely and securely.

Mercado Bitcoin

• No of currencies: 300+
• KYC required: Yes
• Trading Fees: Between 0.25 – 0.7%
• Deposit Fees: No
• Withdrawal Fees: No
• Pros: A comparatively high degree of choice regarding available currencies
• Cons: Higher fees than international competitors

Foxbit

• No of currencies: 100+
• KYC required: Yes
• Trading Fees: 0.25-0.5%
• Deposit Fees: No
• Withdrawal Fees: No
• Pros: No deposit or withdrawal fees for BRL
• Cons: Less choice than some of its competitors with relatively high fees

NovaDAX

• No of currencies: 500+
• KYC required: Yes
• Trading Fees: 0.25-0.5%
• Deposit Fees: No
• Withdrawal Fees: No
• Pros: One of the largest selections of coins in Brazil
• Cons: Minimum withdrawal limits

Binance Brazil

• No of currencies: 400+
• KYC required: Yes
• Trading Fees: 0.01%
• Deposit Fees: No
• Withdrawal Fees: Free-0.5%
• Pros: Lower trading fees than Brazilian rivals, good coin selection
• Cons: Potential fees for withdrawals

Is Crypto Legal in Brazil?

Yes, crypto is legal in Brazil. Brazil is even pursuing a central bank digital currency (CBDC) in partnership with Drex and is considering adding Bitcoin to the nation’s currency reserves.

Is Crypto Mining Legal in Brazil?

Yes, crypto mining is legal in Brazil. Profits from mining are counted as capital gains and should be included in your yearly tax statement.

How to Mine Bitcoin in Brazil?

To mine Bitcoin in Brazil you’ll need the right hardware and software configuration. Let’s take a closer look.

Step 1: Choosing the right hardware

The first step to mining crypto is selecting the right hardware for the type of mining you intend to do. For Bitcoin mining, dedicated hardware known as an ASIC is the best option, although some other cryptocurrencies such as Monero can be mined with a standard GPU found in most desktops and laptops.

If you don’t want to make the financial outlay necessary for Bitcoin mining then GPU mining is your best bet.

Step 2: Installing and configuring mining software

Whatever form of mining you’re considering, you’ll need to install mining software. Do your research and be careful to only download from official sources. 

Step 3: Joining a mining pool

Mining on your own can be a fairly thankless task with ongoing expenditure without much immediate reward. That’s why many miners elect to join a mining pool where risk and reward are pooled. 

Some popular pools for Bitcoin mining include Antpool, F2Pool and ViaBTC.

Step 4: Setting up a bitcoin wallet

Your mining rewards will be sent to the designated wallet of your choice. If you’re mining Bitcoin you’ll need to have a Bitcoin wallet created and assigned to your mining software. We covered the wallet creation process in the ‘Install Apps and Create Accounts’ section above.

For best practice assign this wallet to your Bitcoin miner.

Crypto Tax in Brazil

Let’s understand the state of taxation over crypto in Brazil.

Is Crypto Taxed in Brazil?

Yes, crypto is subject to Capital Gains Tax in Brazil. 

What is the Crypto Tax Rate in Brazil?

Previously only profits exceeding BRL 35,000 were taxed. This exemption ended on June 12.

Now all traders face a flat 17.5% tax rate.

When Does the Crypto Tax Rate Apply in Brazil?

A flat rate of 17.5% tax is applied to all profits from crypto trading in Brazil.

How to Calculate Tax on Crypto in Brazil?

In Brazil the tax year runs from January 1 to December 31, and filing must be completed before April the following year.

Your capital gains or losses can be calculated by subtracting the purchase price of your crypto from its sales price. What is left is your profit or loss.

How to Buy NFT in Brazil?

Step 1: Set up a crypto wallet

Before you start buying up NFTs you’ll need a crypto wallet to store them on. The best option for this task is a self-custody wallet.

NFTs can be stored on a number of different blockchains including Ethereum and Solana. What type of wallet you need will depend on the specific NFT you wish to buy.

Step 2: Buy cryptocurrency

One way of buying NFTs is with cryptocurrency. Which cryptocurrency you need will depend on the marketplace you are using.

OpenSea is compatible with a wide variety of blockchains including Ethereum, Polygon, Klaytn, Arbitrum, Optimism, Avalanche, Zora, Base, Blast, Sei, B3, Berachain, Flow, ApeChain, Soneium, Shape, Unichain, Ronin, Abstract, and Solana. The total list of payment tokens is upwards of 150.

Other marketplaces such as Rarible and Blur have their own list of compatible blockchains and payment methods.

Step 3: Choose an NFT marketplace

There’s a wide variety of options in the NFT market including OpenSea, Rarible, SuperRare and Blur. Shop around and decide which options best suit your tastes and requirements.

Step 4: Browse and select an NFT

An NFT marketplace is an online art gallery. Look around, browse the available collections and find something that speaks to you. Art is a highly personal and subjective area. Find something you love.

Step 5: Buy or make an offer

Once you’ve found the work that is ‘just right’ the next step is to make a purchase. Click on the work you want to see if it’s for sale. If so, you should be able to purchase the work at the listed price.

In some cases an artwork may already be owned by another private collector. In these instances you may be able to make a bid, but there’s no guarantee the collector will sell. 

Conclusion

This article has prepared you to take on the Brazilian cryptocurrency landscape with clarity and confidence.Just remember to observe best security practices and store the keys to your coins on a dedicated hardware wallet such as the Ledger Stax or Ledger Flex. 

Frequently Asked Questions about Crypto in Brazil

Is Bitcoin legal in Brazil?

Bitcoin is legal in Brazil, as are other cryptocurrencies.

Do you pay tax on crypto in Brazil?

All traders face a 17.5% tax rate on capital gains.

Can you mine cryptocurrency in Brazil?

Yes, you can mine cryptocurrency in Brazil.

What is the best cryptocurrency to invest in Brazil?

The best is always a matter of opinion. Bitcoin (BTC), Ethereum (ETH) and Solana (SOL) are all popular choices.

In our series of Country Guides, Ledger Academy walks you through the steps of how to buy, sell, and hold crypto assets safely and securely in various jurisdictions across the globe. We also take a look at other aspects of crypto like NFTs, the regulatory landscape, the state of Bitcoin mining, and any potential tax implications of owning crypto.

For similar guides covering other regions, check out our comprehensive crypto guides for India, Germany, Turkey, and Thailand.