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Many want to buy bitcoins in Uruguay as it's one of the wealthiest countries in South America. We've spent time researching exchanges that work for UY residents.
eToro has gained traction among Uruguayan traders and crypto/bitcoin enthusiasts. It offers support for Bitcoin, Ethereum, Litecoin, Zcash, and several other coins popular in UY. Uruguayan users can swiftly make deposits via bank transfer, SEPA, NETELLER, PayPal, and other methods familiar to them.
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We've researched and found the single Bitcoin ATM in Uruguay. Use our Bitcoin ATM map to find its location. View Bitcoin ATMs in Uruguay
Coinmama has been serving customers of Uruguay since 2011, when the company launched. Customers in UG can deposit via SWIFT and wire transfer.
CEX.io lets you buy bitcoin with a credit card, ACH bank transfer, SEPA transfer, cash, or AstroPay. Purchases made with a credit card give you access to your bitcoin immediately. CEX.io works in the United States, Europe, and certain countries in South America.
Founded in 2011, Kraken is one of the world's foremost cryptocurrency exchanges and has established a significant presence in Uruguay. As a hub for digital asset trading in the region, it caters to the diverse needs of Uruguayan investors. Deposits can be made via bank wire, local Uruguayan payment methods, and more. Users in Uruguay can buy bitcoin, ethereum, dogecoin, and many other digital currencies.
Paybis is a popular cryptocurrency exchange. They serve 180 countries and 48 US states and are registered with FinCEN, making them a more trusted, regulated exchange. Paybis offers incredibly high limits and super fast payouts, not to mention 5 minute ID verification and nearly perfect review scores on Trustpilot.
AirTM benefits UY residents with secure, transparent dollar, Bitcoin and cryptocurrency transactions. AirTM allows instant access to funds and lots of other unique features.
Bitex.la is a Bitcoin exchange and broker which services many South American countries, including Brazil, Mexico, Argentina, Chile, Peru and Uruguay. You can fund your exchange account with cash or AstroPay.
SatoshiTango is one of the most popular exchanges in South America. It supports residents of Uruguay.
We maintain our own database of Bitcoin ATMs. Here are the ATMs we've found in Uruguay. You can submit an ATM to use by using our contact form.
ATM located at Smart Point in Punta del Este.
Back in late 2017, during Bitcoin's huge price run, Uruguay announced they were launching their digital currency. Like most altcoins that launched in late 2017/early 2018, it didn't materialize.
Still, thanks to Uruguay's Bitcoin and blockchain-friendly attitude, trading Bitcoin is easy in Uruguay. There isn't any official regulation in Uruguay banning or permitting Bitcoin, so it's a bit of a gray area. Despite the government's lack of clarity on the topic, its residents are allowed to own Bitcoin, as long as they're not using for illegal activity.
One of the easiest ways to buy Bitcoin in Uruguay is through the cryptocurrency exchanges outlined above. There are several exchanges offering Bitcoin in Uruguay, and you can easily select one based on your requirements and preferences using our guide. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.
Additionally, Bitcoin buyers need to keep in mind the fact that certain exchanges might require them to get a wallet of their own before they are able to buy the digital currency. Also, it is recommended to have a wallet of your own for security reasons, preferably a hardware wallet.
As of September of 2023, we could find no Bitcoin or crypto exchange hacks or significant scams affecting Uruguay or its citizens. We will update this page if/when any news of scams or exchange hacks occur in Uruguay. There have been many in South America, but not specifically in Uruguay.
If you're hell-bent on mining Bitcoin, here's what you need to know:
Electricity costs are the leading factor in determining mining profitability. If the value of your mined Bitcoin is higher than your electric bill, you're profitable.
Aside from buying powerful and efficient mining hardware, keeping electricity costs as low as possible is crucial for a profitable mining operation.
Unfortunately, Uruguay's electricity costs are too high for a profitable operation. Coming in at $0.18 per kWh, citizens of Uruguay pay more than those in the United States.
According to our mining profitability calculator, even using the best mining hardware in Uruguay would result in a loss of several thousand dollars per year, per miner, on top of the initial startup cost.
The majority of Bitcoin mining is performed in countries with cheap electricity, like China - at least, until they took a harsh stance on Bitcoin and mining farms. Either way, it's not profitable in Uruguay, and unless you want to mine Bitcoin for fun, you should buy it directly from an exchange-listed above.
Thanks to Uruguay's Bitcoin-friendly regulation, it's easy to buy and sell cryptocurrency in the country.
Tether, the issuer of USDT, has announced its investment in sustainable Bitcoin mining in Uruguay. The company has partnered with a local licensed firm for this initiative. The mining facility is expected to start by mid-Q3 this year.
Tether’s USDT, with an $83 billion capitalization, is backed by various assets. The company reported $1.5 billion in profits for Q1 2023.
Coinbase ONLY allows crypto to crypto conversions for Uruguay residents as of September of 2023.
As of September 2023, there is one Bitcoin ATM in Uruguay. It's a Smart Point ATM located in Punta del Este.
The current price of Bitcoin in Uruguay is UYU1,540,500.13, however this amount changes every minute, so always check the value on your local exchange.
Any exchange with a Peso Uruguayo trading pair will allow you to sell your Bitcoin for fiat currency. Bitex has UYU trading pairs for many popular coins.
BuyBitcoinWorldWide writers are subject-matter experts and base their articles on firsthand information, like interviews with experts, white papers or original studies and experience. We also use trusted research and studies from other well-known sources. You can learn more about our editorial guidelines.