10 Best Crypto Exchanges In Paraguay for Safe & Easy Trading

In this article, I will review the best crypto exchanges in Paraguay and focus on platforms that provide security, easy-to-use interfaces, and various cryptocurrencies.

We will analyze trading fees, coins, payment options, and legal compliance. This review will help you, whether you are a beginner or an experienced trader, select the most suited option for crypto trading in Paraguay.

Key Points & Best Crypto Exchanges In Paraguay

OKX: Wide range of cryptocurrencies, low trading fees, advanced trading tools

Gate: Strong security, multiple crypto pairs, user-friendly interface

Binance: Largest global exchange, high liquidity, extensive crypto offerings

Bybit: Focus on derivatives trading, leverage options, fast order execution

KuCoin: Offers altcoins, margin trading, staking, and flexible withdrawal options.

Kraken: Highly secure, fiat support, regulated, ideal for beginners and pros.

Coinbase: Beginner-friendly, insured custodial wallets, regulated in multiple countries.

Bit2Me: European-focused, easy fiat deposits, mobile-friendly platform.

Crypto.com: Crypto card options, staking rewards, strong mobile app experience.

Gemini: Highly regulated, insured wallets, strong security, supports fiat trading.

10 Best Crypto Exchanges In Paraguay

1. OKX

Paraguay’s digital economy is expanding, and with it, the need for a suitable platform. Within the Best Crypto Exchanges In Paraguay is OKX, established in 2017 and offering 349 of the widest variety of cryptocurrencies as well as low trading fees (0.08% maker, 0.1% taker), and payment via bank transfers and cards.

KYC is necessary, and the platform’s support in Spanish helps with local usability. With deeper liquidity and a derivatives market, OKX is perfect for more expert users.

More than 100 countries Also, OKX is one of the Best Crypto Exchanges In Paraguay for strong futures trading due to rapid execution and seamless Web3 futures trading.

Key Highlights

• Established: Within only 6 years, they have gone from a local exchange to one of the most important exchanges in the world.
• Supported Coins: More than 300, including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
• Trading Fees: Beginning fees of 0.10%, split into many parts based on a user’s trading volume & willingness of trading volume & possession of OKB tokens of spot trading.
• Deposit Methods: Bank P2P platforms, credit and debit cards, and transfers.
• KYC: Users are globally required to complete this step due to anti-money laundering policies.
• Local Exchange: No local exchange available for Paraguay.
• Country Support: Service users located in Paraguay & many others.
• Language Support: Has Spanish language customer service.

2. Gate

Gate.io, established in 2013, is another of the Best Crypto Exchanges In Paraguay, supporting over 3,800 coins and offering spot, margin, and futures trading. Fees start at 0.2% but drop with VIP status. Deposits are crypto-based, and KYC is mandatory.

Gate.io supports Spanish and operates in 130+ countries. Its appeal lies in early token listings and deep liquidity.

Though not a local exchange, its accessibility and altcoin diversity make it a top contender among the Best Crypto Exchanges In Paraguay, especially for users seeking exposure to niche assets and automated trading tools

Key Highlights

• Established: One of the earliest exchange platforms, it started servicing customers in 2016.
• Supported Coins: More than 3 500 supported digital assets, including but not limited to BTC, ETH and many more altcoins.
• Fees for Trading: Competitive fees for spot trading starting at 0.20%. Discounts available through the Gate token (GT).
• Depositing Methods: Allows deposit of fiat currency through bank wire transfer, credit & debit cards, and peer-to-peer.
• KYC: For certain features and higher withdrawal limits, KYC verification is needed.
• Local Exchange: Exchange is not local in the case of Paraguay.
• Available To: Users in Paraguay.
• Language Support: Spanish is one of the supported languages which helps local users.

3. Binance

Binance, launched in 2017, dominates as one of the Best Crypto Exchanges In Paraguay. With over 508 coins, low fees (0.1% spot, 0.02% futures maker), and P2P deposit options, it’s widely used in Paraguay.

KYC is required, and Spanish support ensures ease of use. Binance’s ecosystem includes staking, NFTs, and Launchpad. It operates in 180+ countries and is favored for its comprehensive tools.

Among the Best Crypto Exchanges In Paraguay, Binance stands out for its versatility, making it suitable for both beginners and seasoned traders

Key Highlights

• Formed in: 2017, Binance became one of the largest cryptocurrency exchanges by trading volume.
• Coins Offered: Lists more than 500 cryptocurrencies, including BTC, ETH, and many more altcoins.
• Fees: Trading fees for Binance users start at 0.10%. Reductions available for holders of BNB tokens and users with higher trading volumes.
• Depositing Methods: Bank wire transfer, credit & debit cards, and peer-to-peer trading.
• KYC: All users subject to KYC for AML compliance.
• Local Exchange: Binance is not a local exchange in Paraguay.
• Available To: Binance is currently not available for users in Paraguay.
• Language Support: Spanish is one of the supported languages.

4. Bybit

Bybit, founded in 2018, is known for derivatives and high-leverage trading. It supports 600+ coins, with fees starting at 0.1% for spot and 0.02% for futures.

Paraguayan users can deposit via crypto; KYC is optional but recommended. Spanish support and availability in Paraguay make it user-friendly.

Bybit’s copy trading and bot features attract active traders. Its deep liquidity and advanced tools place it among the Best Crypto Exchanges In Paraguay, especially for those focused on futures and automated strategies

Key Highlights

• Established: Bybit Derivatives Trading Platform was founded in 2018 and is still operational today.
• Supported Coins: The platform allows purchases of numerous cryptocurrencies including BTC, ETH, and USDT.
• Trading Fees: Bybit utilizes a Maker-Taker fee model. The fees for makers and takers is 0.10% and 0.20% respectively.
• Deposit Methods: The platform allows crypto deposits and purchases of P2P fiat as well.
• KYC: As long as KYC is not completed, users maintain upper limits along with access to various features, complete KYC is a must.
• Local Exchange: No, Paraguay cannot access any local exchanges.
• Country Support: Paraguay is one of the many supported countries.
• Language Support: The platform has a feature and has support for the Spanish language.

5. KuCoin

KuCoin, launched in 2017, supports 700+ coins and offers spot, margin, and futures trading. Fees start at 0.1%, with discounts for holding KCS. Deposits are via crypto or P2P, and KYC is optional. KuCoin supports Spanish and operates in 200+ countries.

Its NFT marketplace and tokenized stocks add value. As one of the Best Crypto Exchanges In Paraguay, KuCoin appeals to altcoin enthusiasts and users seeking flexible verification options

Key Highlights

• Established: Start in 2018, Bybit is recognized for its derivative trading interface.
• Supported Coins: Crypto assets offered are BTC, ETH, USDT and many more.
• Trading Fees: Maker-taker fee model, fees are 0.10% and 0.20% respectively.
• Deposit Methods: Crypto transfers and P2P fiat payments.
• KYC: Not required unless exceeding Withdrawals. in which case partia is required and rest is shut for extra traits.
• Local Exchange: Not a local Exchange in Paraguay.
• Country Support: Serviced for users residing in Paraguay.
• Language Support: Spanish is available.

6. Kraken

Kraken, founded in 2011, offers 500+ coins with spot and futures trading. Fees are 0.16% maker and 0.26% taker. Paraguayan users can deposit via bank or card, though Guarani isn’t supported. KYC is mandatory.

Kraken supports Spanish and operates in 190+ countries. Known for security and compliance, it’s ideal for cautious investors.

Among the Best Crypto Exchanges In Paraguay, Kraken is preferred by experienced users seeking reliability and regulatory strength

Key Highlights

• Established:** Kraken is a venerable cryptocurrency exchange, having been conceptualised in 2011, operational in 2013, and remained active ever since.
• Supported Coins:** Kraken has secured a partnership with more than 290 cryptocurrencies in circulation, with BTC, ETH and a number of altcoins among them.
• Trading Fees:** Kraken charges a maker-taker fee model, distinguished by a minimum charge of 0.16% for makers and 0.26% for takers.
• Deposit Methods:** Users are capable of seamless bank and cryptocurrency deposits.
• KYC:** Know Your Customer (KYC) is a requirement for all the users for compliance and anti money laundering (AML) purposes.
• Local Exchange:** Kraken is not a localized exchange for Paraguay.
• Country Support:** All users who are resident in Paraguay are free to access the services offered.
• Language Support:** Spanish language services are available.

7. Coinbase

Coinbase, established in 2012, supports 297+ coins and offers spot trading and staking. Fees are higher (up to 0.6%), and deposits in Paraguay are limited to crypto.

KYC is required, and Spanish support is available. Though limited in local fiat options, Coinbase remains one of the Best Crypto Exchanges In Paraguay due to its clean UI and strong security. It’s best for beginners and long-term holders

Key Highlights

• Established:** Coinbase, a prominent San Francisco based platform, is recognized for a more simplified approach to cryptocurrency transactions since its inception in 2012.
• Supported Coins:** Coinbase is in partnership with more than 150 cryptocurrencies within circulation, and showcases BTC, ETH, and various altcoins.
• Trading Fees:** Compared to competitors, costs of transactions and the order volume determines the exchange costs and is usually on the higher side.
• Deposit Methods:** Users are free to deposit money through bank wires, credit and debit cards, and Paypal transactions.
• KYC:** All users are subject to Quo Vadis compliance policies covering anti – money laundering (AML) controls.
• Local Exchange:** Coinbase is not a localized exchange for Paraguay.
• Support a Country: Currently not accessible by users from Paraguay.
• Support a Language: Offers services in Spanish.

8. Bit2Me

Bit2Me, founded in 2015 in Spain, supports BTC, ETH, and DASH. It offers spot trading, staking, and a debit card. Paraguayan users can deposit via bank, card, or cash.

KYC is required, and Spanish support makes it locally accessible. Bit2Me is regulated by the Bank of Spain, ensuring trust.

As one of the Best Crypto Exchanges In Paraguay, it’s ideal for Spanish-speaking users seeking a compliant and user-friendly platform

Key Highlights

• Established: Founded in 2014, Bit2Me is a Spanish exchange whose services have expanded to multiple countries.
• Supported Coins: Supports over 410 cryptocurrencies, in addition to Bitcoin (BTC) and Ethereum (ETH) and a host of altcoins.
• Trading Fees: A 0.95% fee is charged for purchases and sales.
• Deposit Methods: Deposits can be made through bank transfers, credit and debit cards, and other means.
• KYC: They do KYC for all users for regulatory requirements.
• Local Exchange: Not a local exchange in Paraguay.
• Country Support: Accessible to users in Paraguay.
• Language Support: Offers support exclusively in Spanish.

9. Crypto.com

Crypto.com launched in 2016 and supports over 250+ cryptocurrencies. It also offers spot and futures trading as well as staking. Fees start at 0.075% and deposits are crypto only in Paraguay.

There are some KYC procedures however some assistance in Spanish is available. It is well-known for its mobile app and Visa card and is one of the Best Crypto Exchanges In Paraguay for mobile-first users looking for a Broad ecosystem.

Key Highlights

• Established: Crypto.com was founded in 2016 and has a plethora of cryptocurrency services.
• Supported Coins: Cryptocurrency exchanges like Bitcoin (BTC), Ethereum (ETH), and a multitude of altcoins.
• Trading Fees: Fees are competitive, and discounts can be earned through holding CRO tokens.
• Deposit Methods: Fiat deposits through bank transfers, credit and debit cards, and P2P trades.
• KYC: Compliant KYC on all users for global AML requirements.
• Local Exchange: Not a local exchange in Paraguay.
• Country Support: Accessible to users in Paraguay.
• Customer Support: Provides support in Spanish language.

10. Gemini

Since 2014, Gemini has provided 70+ cryptocurrency coins, spot, and staking Gemini’s fees start as low as 0.35% taker.

In Paraguay, Gemini only accepts cryptocurrency deposits and funds are currently KYC compliant. Spanish assistance is provided.

Because of Gemini’s commitment to safeguarding and regulatory compliance, it is one of the best crypto exchanges in Paraguay, particularly for customers who focus on compliance and safety.

Key Highlights

• Established: As a US-based exchange that was launched in 2014, Gemini was founded by Cameron and Tyler Winklevoss.
• Supported Coins: Supports over 150 cryptocurrencies including BTC, ETH, and tons of altcoins.
• Trading Fees: Fees are higher than some other exchanges and are dependent on volume and order size.
• Deposit Methods: Accepts deposits in fiat currency through bank wires and accepts cryptocurrency.
• KYC: All users are required to complete KYC in order to comply with AML.
• Local Exchange: Gemini does not function as a local exchange in Paraguay.
• Country Support: Currently, users from Paraguay do not have access Gemini.
• Language Support: Only supports English language.

Is Crypto Legal and Regulated in Paraguay?

In Paraguay, holding cryptocurrencies is legal, but using them is not recognized as legal tender. The county is making progress with regulations, with the Central Bank of Paraguay (BCP) and the National Securities Commission (CNV) providing much of the oversight.

Paraguay’s Senate ratified a law approving the regulation of cryptocurrency mining and trading in the country, and rebalancing innovations, in the year 2022. The law’s intent is to protect investors while creating regulations from the Paraguayan legal framework.

It requires miners and cryptocurrency exchanges to register with the Undersecretariat of State Taxation to obtain a government operating license.

It moreover requires compliance with transactional Anti Money Laundering (AML) regulations as well as the know-your-customer (KYC) rules in a focused way. Paraguay ensures the balance of innovation and security with these rules and regulations.

Is Crypto Taxable in Paraguay?

In Paraguay, crypto activity is still evolving and as of 2024, there still isn’t any legislation pertaining to crypto taxes.

While there is no dedicated law pertaining to crypto, trading and mining crypto is regarded as income and is liable for tax at 8-10% for any income earned, and selling crypto may be considered as capital gains and may be taxed at 10% as well.

Paraguay still lacks defined guidelines when it comes to crypto taxes and there is still some ambiguity regarding some activities pertaining to crypto.

How To Buy Crypto In Paraguay

In Paraguay acquiring cryptocurrency has become easier than before. This tutorial aims to guide the users of Binance. Binance is our top recommended exchange for Paraguayan users because they have a very simple to use platform, very low fees, and multiple methods of payment you can use, including, bank transfers and credit cards.

Select a Cryptocurrency Exchange

Choose a reliable exchange of cryptocurrency in Paraguay. We suggest Binance because they have a large variety of cryptocurrencies and a wide selection of payment methods. Do your due diligence to ensure that the exchange complies with the legal regulations of the country and has KYC processes in place.

Register Your Account and Verify Your Identity

Go to Binance’s website and complete the KYC process. This is a one step process that will need you to provide personal details including government issued identification and proof of residence.

Deposit Funds into Your Accoun

You can deposit Paraguayan Guaraní (PYG) into Binance. Binance allows you to make deposits through bank transfers as well as credit cards and debit cards. For larger amounts, bank transfers are recommended as they have the lowest fees.

Select Cryptocurrency

Different cryptocurrencies have different features. For beginners, we recommend Bitcoin (BTC) and Ethereum (ETH). Those that are interested in trading, we recommend purchasing stable coins like Tether (USDT).

Conclusion

In conclusion, Paraguay has a developing list of cryptocurrency exchanges, each with its own characteristics, supported currencies, and trading facilities.

Selecting the appropriate exchange is central to trading successfully, be it security, low fees, or simplicity.

Weighing paramaters like local regulations, payment options, and language services, crypto traders can easily determine what the most suitable exchange for them is.

FAQ