Nowadays, Mexican crypto exchanges and trading platforms can be found in abundance, however, choosing the best platforms for your style of investing can be difficult.
In this article, our expert review team consisting of Christopher, Apollo, and Mary, who has more than 15 years of combined experience in blockchain technology has broken down the most popular and highest rated crypto exchanges in Mexico. They tested over 25 exchanges and narrowed it down to a top 5 list.
List of top platforms in Mexico
| Platform | Key Features | Fee | |
| 1. BYDFi | – Best platform for crypto trading | 0.02% | Visit BYDFi |
| 2. Phemex | – Best crypto app | 0.05% | Visit Phemex |
| 3. BingX | – Best alternative trading platform | 0.06% | Visit BingX |
| 4. Binance | – Best for investing in altcoins | 0.10% | Visit Binance |
| 5. Coinbase | – Best for investing in crypto | 0.50% | Visit Coinbase |
(This article is not financial advice. Research before investing. Some links are affiliate links, earning us a commission without extra cost for you. Our content remains unbiased regardless of affiliates.)
Key takeaways
- Topping our list, BYDFi ranks as the best crypto exchange and trading platform in Mexico. Its standout features include a user-friendly interface, low fees, and a diverse range of trading options, making it the go-to platform for traders in Mexico.
- While BYDFi leads the pack, other platforms like Phemex and BingX also offer unique features. Phemex excels in providing anonymity with no KYC requirements, and BingX is notable for its innovative copy-trading features.
- Across all platforms, a common theme is the emphasis on security and user experience. Platforms like Coinbase stand out for their robust security measures, while Binance offers a diverse range of cryptocurrencies.
What is the best crypto trading platform and exchange in Mexico?
To answer this question you first need to know what data points to analyze and how to do it properly. Our team of experts has taken this task very seriously and they have analyzed 50 data points, 60 features, over 25 exchanges, and they have primarily looked at these factors:
- Fees
- Security protocols
- Platform features
- KYC and registration process
- Withdrawal limits
- Mobile-friendliness
- User interface
- Support channels
- Local payment methods
1. BYDFi review
Rating: 9.8/10
At a glance
BYDFi, previously known as BitYard, ranks as the best crypto trading platform in Mexico, especially for those keen on trading crypto options with the Mexican peso. This platform, which started in 2019-2020 and rebranded to BYDFi in January 2023, is headquartered in Singapore and operates in over 150 countries.
It’s particularly appealing for its user-friendly interface, making it ideal for beginners and experienced traders alike. BYDFi offers a range of trading options, including spot trading, perpetual contracts, a non-kyc crypto platform, and leveraged tokens, with a focus on simplicity and efficiency.
Crypto expert Christopher conducted a test by depositing MXN 20,000 using a credit card from a crypto-friendly bank in Mexico, such as Banco Azteca. He traded the USDT-M perpetual swaps with 50x leverage.
Over two days, Christopher executed 50 trades and achieved a profit of 22%. With an average trading fee of 0.03%, the total fees amounted to MXN 300 (0.03% of MXN 20,000 x 50 trades). Thus, his net profit, after deducting fees, was approximately MXN 4,100 (22% of MXN 20,000 – MXN 300).
Pros
- Multi-Currency Support
- Advanced Charting Tools
- Mobile Trading
- Quick Registration Process
- Responsive Customer Support
Cons
- No Fiat Trading Pairs
- Limited Historical Data
- No Demo Account
Fees
- Spot Trading: Ranges between 0.1% to 0.3%.
- Crypto-to-USDT Conversions: Charges between 0.1% to 0.15%.
- Perpetual Contracts: 0.06% for takers and 0.02% for makers.
- Leveraged Tokens: Flat transaction fee of 0.2% for buying and selling.
2. Phemex review
Rating: 9.7/10
At a glance
Phemex stands out as the best crypto app exchange in Mexico, offering a unique blend of advanced features and efficiency for Mexican traders. This platform allows users to trade cryptocurrencies using the Mexican peso with simple requirements for KYC (Know Your Customer) documentation.
In a practical test, crypto expert Apollo deposited MXN 30,000 into Phemex using a Bitcoin wallet. Apollo focused on trading COIN-M perpetual swaps with a high leverage of 75x. Over two days, he executed 40 trades and secured a profit of 19%, confirming that Phemex is a top crypto contract trading platform among its competitors.
Considering the average trading fee of 0.05%, the total fees amounted to MXN 600 (0.05% of 30,000 x 40 trades). From the initial MXN 30,000, Apollo’s final profit, after deducting fees, was MXN 5,700 (19% of 30,000 – 600 in fees).
Phemex distinguishes itself with its commitment to user privacy and efficiency. The absence of KYC requirements is a rare feature that caters to a specific segment of traders who value anonymity.
This aspect, combined with a user-friendly interface and low fees, makes Phemex an attractive option for both novice and experienced traders. The platform’s ability to offer high leverage trading with a wide range of instruments, including the unique COIN-M perpetual swaps, adds to its appeal and makes it a great crypto scalping exchange for those who are looking for particularly fast trading.
Pros
- Enhanced Privacy
- High Leverage Options
- Low Trading Fees
- Diverse Trading Options
- User-Friendly Interface
Cons
- Risk of High Leverage
- Limited Regulatory Oversight
- Potential Security Risks
Fees
| Fee Type | Amount |
| Trading Fee | 0.05% average |
| Withdrawal Fee | Variable (based on asset) |
| Deposit Fee | Free |
| Inactivity Fee | None |
| Leverage Fee | Included in trading fee |
3. BingX review
Rating: 9.6/10
At a glance
BingX stands out as the best alternative crypto exchange in Mexico, offering a unique and innovative platform for Mexican traders. This exchange is not just about regular crypto trading; it’s about connecting with elite traders and leveraging their expertise for better investment outcomes.
BingX’s standout feature is its superior analytics and a robust crypto social trading network, which is particularly beneficial for those trading with the Mexican peso. The platform’s user-friendly interface and advanced copy-trading features make it an ideal choice for both beginners and seasoned traders.
Crypto expert Mary conducted a test on BingX by depositing MXN 25,000 using a debit card after completing KYC documentation. She engaged in grid trading using a bot and achieved a remarkable 16% profit over three days. The average trading fee was 0.06%, and she took 88 trades.
The total fees amounted to MXN 1,056 (0.06% of MXN 25,000 x 88 trades), leaving her with a net profit of MXN 3,944 (16% of MXN 25,000 – MXN 1,056). The bot’s performance was impressive, employing strategies that capitalized on market volatility and price differences efficiently.
BingX’s unique selling point is its unparalleled focus on copy-trading. Unlike other exchanges where copy-trading is just an added feature, BingX has developed it into a core aspect of its platform. This focus not only attracts experienced traders but also benefits beginners who can learn and earn by copying the strategies of successful traders.
Pros
- Innovative Copy-Trading
- 24/7 Multilingual Customer Support
- Extensive Fiat Support
- Perpetual Swap Feature
- Intuitive and Beginner-Friendly
Cons
- Limited Brand Recognition
- Dependence on Third-Party Services for Fiat Transactions
- KYC Requirements for Fiat Transactions
- Complexity of Advanced Features
Fees
- Trading Fees: Among the lowest in the industry.
- No Deposit Fees: Encourages more frequent trading.
- Withdrawal Fees: Detailed in the fee section of the BingX site.
- Affiliate Program Commission: Up to 60%, one of the highest in the industry.
- Maker and Taker Rates: Competitive rates for different trading strategies.
4. Binance review
Rating: 9.6/10
At a glance
Binance stands out as the best altcoin exchange in Mexico, offering a robust platform for Mexican traders to engage in altcoin trading with the Mexican peso. Founded in 2017 by Changpeng Zhao, Binance has rapidly ascended to a leading position in the crypto exchange world.
It supports over 500 cryptocurrencies and operates in more than 180 countries. Known for its low trading fees and a user-friendly interface, Binance caters to both beginners and seasoned traders. Its diverse services include a spot and crypto margin trading exchange, futures and derivatives, as well as innovative options like P2P trading and crypto loans.
Crypto expert Christopher conducted a test by depositing MXN 22,000 into Binance using a credit card, after completing the necessary KYC documentation. He traded six different altcoins, all priced below $1, including coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Cardano (ADA).
Over the course of a single day, Christopher executed 44 trades and achieved a profit margin of 12%. The average trading fee was 0.1%, amounting to a total fee of MXN 968 (44 trades x 0.1% x MXN 22,000). Thus, his net profit, after fees, was approximately MXN 1,584 (12% of MXN 22,000 – MXN 968). All of this was done in the crypto futures trading platform of Binance which offers fees of less than 0.05% utilizing the BNB token.
Binance’s standout feature is its commitment to innovation and user empowerment. The platform not only offers a wide range of trading options but also ventures into newer domains like crypto loans and Binance Smart Pool, enhancing the overall user experience.
Pros
- Diverse Cryptocurrency Selection
- Low Trading Fees
- User-Friendly Interfaces
- Innovative Services
- Global Accessibility
Cons
- Complexity for Beginners
- Customer Support Delays
- Regulatory Challenges
- Withdrawal Limits
Fees
- Spot Trading Fees: Start at 0.1%, with discounts for higher VIP levels and BNB holders.
- Futures Trading Fees: Start at 0.02% / 0.04% for VIP level 0, reducing for higher volumes.
- Deposit Fees: Free, except for blockchain fees.
- Withdrawal Fees: Varies, generally align with blockchain transaction fees.
- Credit/Debit Card Purchases: Up to 4.5% fees for USD deposits using a debit card.
- SEPA/Wire Transfers: No transaction fee for SEPA & wire deposits in selected fiat currencies.
5. Coinbase review
Rating: 9.5/10
At a glance
Coinbase stands out as the most secure crypto exchange in Mexico, offering a robust platform for Mexican traders to engage in cryptocurrency transactions with the Mexican peso. This exchange is renowned for its comprehensive security measures, ensuring a safe trading environment for users.
Its user-friendly interface caters to both beginners and experienced traders, making it an ideal choice for those prioritizing security in their crypto dealings.
Crypto expert Mary conducted a test by depositing MXN 25,000 into Coinbase. After completing the necessary KYC (Know Your Customer) documents, she made a bank transfer deposit, incurring a fee of 2.99%. This fee amounted to MXN 747.50. Mary then used this deposit to purchase Bitcoin.
The platform’s performance was evaluated based on its ease of use, transaction speed, and the variety of options strategies available. Mary’s experience highlighted the platform’s efficiency and user-friendly interface, making it a reliable choice for secure crypto trading in Mexico.
Coinbase’s unique feature that truly stands out is its “Learn to Earn” program. This innovative approach not only educates users about cryptocurrency trading but also rewards them with cryptocurrency for completing educational modules. This feature demonstrates Coinbase’s commitment to user education and engagement, setting it apart from other exchanges.
Pros
- Diverse Payment Options
- High Liquidity
- Strong Regulatory Compliance
- Earn Crypto Rewards
- Advanced Trading Features
Cons
- Complex Fee Structure
- Regulatory Challenges
- Limited Insurance Coverage
- Staking Program Legal Uncertainties
- High Fees for Small Transactions
Fees
| Transaction Type | Fee |
| Bitcoin Purchase (via ACH, $200) | 3.84% |
| Advanced Trade (Taker Fee, up to $1K) | 0.80% |
| Advanced Trade (Maker Fee, up to $1K) | 0.60% |
| Spread on Sales/Purchases | ~0.5% |
| External Blockchain Network Transactions | Variable |
What is a Mexican crypto exchange?
A Mexican crypto exchange is a digital marketplace specifically catering to the needs of cryptocurrency traders and investors in Mexico. These platforms allow users to buy, sell, and trade a variety of cryptocurrencies such as Bitcoin, Ethereum, and many others, using Mexican Pesos (MXN) or other currencies.
What sets Mexican crypto exchanges apart from global platforms is their focus on local payment methods, compliance with Mexican financial regulations, and often, Spanish-language support, making them more accessible and user-friendly for residents in Mexico.
From my experience, these exchanges often provide unique features tailored to the local market. For instance, they might offer specific trading pairs with MXN or integrate with local banks for easier fund transfers. This localization not only simplifies the process for Mexican users but also offers a sense of security and familiarity.
How do you pick crypto exchange in Mexico?
When selecting a cryptocurrency exchange in Mexico, it’s crucial to consider several key factors to ensure a safe and efficient trading experience. First, assess the exchange’s security measures.
Look for platforms that offer robust security protocols such as two-factor authentication (2FA) and cold storage of assets. This ensures your investments are well-protected against cyber threats.
Next, evaluate the user interface and support. A user-friendly platform with responsive customer support makes trading more accessible, especially for beginners. Check if the exchange offers educational resources or tutorials, which can be invaluable for new traders.
Transaction fees are another important consideration. Compare the fee structures of different exchanges to find the most cost-effective option. Lower fees can significantly impact your overall returns, especially if you plan on making frequent trades.
Liquidity is also a key factor. High liquidity means you can buy and sell assets quickly and at prices close to the market rate. This is particularly important in the volatile crypto market.
Is crypto legal in Mexico?
In Mexico, cryptocurrency has been recognized and regulated under the Fintech Law since 2018. This means that while cryptocurrencies like Bitcoin are legal, they are not considered legal tender. The Mexican government views them as digital assets rather than currencies. This distinction is crucial for understanding the legal framework surrounding crypto trading and investment in the country.
As an expert in the field, I’ve observed that the Mexican government’s approach to crypto is progressive yet cautious. They have implemented regulations to prevent money laundering and terrorism financing through cryptocurrencies.
How do you buy crypto in Mexico?
Buying cryptocurrency in Mexico is a straightforward process that can be broken down into a few simple steps. Here’s a quick beginner-friendly guide to help you get started:
- Choose a Reliable Crypto Exchange
- Create an Account
- Deposit Funds
- Buy Cryptocurrency
- Secure Your Investments
How we review and select exchanges
User Experience Evaluation Summary:
Apollo excels in assessing user interfaces and navigation, offering insights from a new user’s perspective. Mary leverages her blockchain expertise to evaluate technical features and security. Christopher documents experiences with tangible evidence like screenshots and analytics.
Together, Apollo and Mary analyze performance metrics, including transaction speeds and customer support. Christopher identifies unique selling points of each platform, while Mary conducts comparative analyses against competitors. Apollo provides a balanced view of each platform’s pros and cons.
Christopher tracks their evolution and updates impacting user experience. Mary emphasizes decision-making factors like security and cost-effectiveness. Apollo assesses the impact of design on users.
Collectively, Christopher, Apollo, and Mary justify their recommendations for the best platforms based on detailed evidence and analysis.
Pros and cons of buying cryptocurrencies
Pros:
- Potential for High Returns
- Diversification
- Innovation and Future Potential
- Accessibility
Cons:
- Volatility
- Regulatory Uncertainty
- Security Risks
- Limited Understanding
FAQ
Can I withdraw crypto in Mexico?
Yes, you can withdraw cryptocurrency in Mexico. Many exchanges operating in Mexico support fiat withdrawals, allowing users to convert their crypto assets into Mexican Pesos and withdraw them to their bank accounts.
Can I use KuCoin in Mexico?
KuCoin is accessible in Mexico, offering a wide range of cryptocurrencies for trading. As an expert in crypto exchanges, I’ve found KuCoin’s user interface to be intuitive and its security measures robust, making it a competitive choice for Mexican users.
Is crypto tax free in Mexico?
Cryptocurrency is not tax-free in Mexico. The Mexican Tax Administration Service (SAT) requires individuals and businesses to pay taxes on profits made from cryptocurrency transactions.
Can I use Binance in Mexico?
Binance is available to users in Mexico, offering a comprehensive platform for trading a variety of cryptocurrencies. My experience with Binance highlights its advanced trading features and strong security protocols, making it a top choice for both novice and experienced traders in Mexico.
Conclusion
In summarizing the current cryptocurrency exchanges and trading platforms in Mexico, it’s clear that while BYDFi ranks as the best crypto exchange and trading platform in Mexico, other platforms also offer unique and compelling features.
Phemex, for instance, stands out as the best no KYC crypto exchange, offering a blend of anonymity and efficiency. BingX is notable for its innovative approach, particularly in copy-trading, making it an excellent alternative for those seeking a more community-driven trading experience.
Binance, with its vast selection of altcoins, is the go-to platform for diverse cryptocurrency trading, while Bybit excels in crypto options trading, offering sophisticated tools for experienced traders. Lastly, Coinbase’s emphasis on security and user-friendly interface makes it a reliable choice for those prioritizing safety in their crypto transactions.
If you are looking for platforms beyond Mexico, check out our other recommendations:
- Crypto exchange in Switzerland
- Crypto trading platform Malaysia
- Crypto trading platform in Sweden
- Crypto exchange in Norway
- Irish crypto exchange
- Japanese crypto trading platform
Who wrote this article?
This comprehensive review of the best crypto exchanges and trading platforms in Mexico is brought to you by Christopher, Apollo, and Mary. Our team boasts over 15 years of combined experience in blockchain technology and cryptocurrency trading.
Christopher, with his keen eye for technical details and market trends, has been instrumental in evaluating the technical prowess of each platform.
Apollo, known for his strategic trading insights, has provided valuable input on user experience and trading efficiency.
Mary, with her extensive background in cryptocurrency regulations and security, has ensured that each platform adheres to the highest standards of safety and compliance.
Together, we bring a balanced and expert perspective to our reviews, aiming to provide our readers with the most reliable and comprehensive information in the crypto space.
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