Invezz is an independent platform with the goal of helping users achieve financial freedom. In order to fund our work, we partner with advertisers who may pay to be displayed in certain positions on certain pages, or may compensate us for referring users to their services. While our reviews and assessments of each product are independent and unbiased, the order in which brands are presented and the placement of offers may be impacted and some of the links on this page may be affiliate links from which we earn a commission. The order in which products and services appear on Invezz does not represent an endorsement from us, and please be aware that there may be other platforms available to you than the products and services that appear on our website. Read more about how we make money >
Top 7 Best Crypto Exchanges to Buy Bitcoin in Ecuador for 2024
In this guide
- 1. Top 7 Best Crypto Exchanges to Buy Bitcoin in Ecuador for 2024
- 2. What is the best crypto exchange Ecuador in 2024?
- 3. Top 7 best Ecuador based crypto exchanges & apps, reviewed
- 4. What do I need to buy Bitcoin in Ecuador?
- 5. How to buy crypto on the best Bitcoin broker in Ecuador
- 6. What is the best Bitcoin wallet in Ecuador?
- 7. How to choose the best Ecuador crypto app
- 8. What type of Ecuadorian crypto exchanges are there?
- 9. Which crypto exchange in Ecuador has the best user reviews?
- 10. To summarise
- 11. FAQs
Trade your favourite markets with our top-rated broker,
. 4.4/575% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
To create this list our expert panel performs a series of tests to identify the strengths and weaknesses of the best cryptocurrency exchanges. The tests include creating an account, placing trades, and transferring money to a secure crypto wallet.
We then research the specific needs of Ecuadorian users, such as which payment methods are available, which currencies you can deposit, and the trading fees for buying Bitcoin in Ecuador, and surveyed those users to find out what they think about each service.
Each expert assigns a score, which is combined with the results of the further research to create a final ranking in order to answer the question: what are the best crypto exchanges in Ecuador for Ecuadorian users?
Learn more about our panel and how we rate and review platforms. Or read on to find out what is the best Ecuador crypto exchange.
What is the best crypto exchange Ecuador in 2024?
Copy link to sectionOur expert rankings reveal that eToro is the best cryptocurrency exchange in Ecuador.
The list below shows the three best Ecuador crypto exchanges that excelled in our tests, by combining low transaction fees, high security, and ease of use.
51% of retail CFD accounts lose money. Your capital is at risk.
Eightcap
Kraken
Top 7 best Ecuador based crypto exchanges & apps, reviewed
Copy link to sectionWe found 25 crypto platforms for users based in
1. eToro. Best for beginners, copy-trading & demo-account
Copy link to sectionOverview
We love eToro because it’s a crypto trading platform built with beginners and casual traders in mind. The platform combines an interactive, social trading experience with an easy-to-use interface, making it ideal for novice traders.
The far-reaching catalog of 100 cryptocurrencies includes big names like Bitcoin and Ethereum, as well as smaller crypto tokens with high growth potential. Some supported tokens can be seamlessly transferred to the eToro Money crypto wallet for safekeeping.
One feature we particularly appreciate is the ability to interact with eToro’s 35 million users on any asset, market, or portfolio page. If you find traders whose strategies match your risk tolerance, you can copy their portfolios automatically using eToro’s flagship copy trading functionality. eToro crypto’s Smart Portfolios offer a great entry point into digital currencies, an opportunity to learn and potentially benefit from the expertise of more experienced traders.
If you don’t feel comfortable investing your cash straight away, you can use a free demo account, credited with $100,000 virtual dollars. This offers plenty of opportunities to try out a trading strategy that works for you across the 100 crypto tokens available.
Highlights
No. of tradable assets | 3600+ |
Min. Deposit | $100 |
ID verification required | Yes |
Free demo account | Yes |
Supported assets | Stock CFDs, ETF CFDs, Forex CFDs, Crypto CFDs, Index CFDs, Commodity CFDs, NFTs |
Mobile trading app | Yes |
Web trading platform | Yes |
Regulatory bodies | ASIC, FCA, CySEC, FinCEN |
Fees & Costs
Trading fees | Yes, on certain assets |
Inactivity fees | Yes |
Rollover/overnight fees | Yes, on CFDs |
Withdrawal fees | Yes |
Spreads | Yes, on certain assets |
Conversion fees | Yes, for non-USD currencies |
Pros & Cons
51% of retail CFD accounts lose money. Your capital is at risk.
2. Eightcap. Best online broker for choice of trading platform
Copy link to sectionOverview
We love Eightcap because you have several trading platforms to choose from. You can choose between MetaTrader 4, MetaTrader 5, and TradingView. All of these platforms are favourites among retail traders. With the MetaTrade suite of platforms, you can access lots of technical indicators, custom tools, and expert advisors.
TradingView with Eightcap allows you to trade directly from your charts while accessing the hundreds of tools and features available. Eightcap a selection of over 200 crypto CFDs so there’s an excellent range to choose from. You can trade the biggest coins like BTC/USD and many altcoins like DOGE/USD.
The fees: Eightcap is a CFD broker and charges spread, commissions, or a combination of both. There are two account types available, RAW, and Standard. The RAW account has ultra-low spreads starting from 0.0 pips but charges $3.5 RT per lot. The standard account is commission-free for most assets and spreads start from 1 pip.
Highlights
No. of tradable assets | 800+ |
Min. Deposit | $100 |
ID verification required | Yes |
Free demo account | Yes |
Supported assets | Stocks, Cryptocurrencies, Commodities, Currencies, Indices |
Mobile trading app | Yes |
Web trading platform | Yes |
Regulatory bodies | ASIC, FCA, CySEC |
Fees & Costs
Trading fees | Yes |
Inactivity fees | No |
Rollover/overnight fees | Yes, on certain assets |
Withdrawal fees | Yes, for certain payment methods |
Spreads | Yes |
Conversion fees | Yes, currency dependent |
Pros & Cons
3. Kraken: Best for simple, global cryptocurrency trading from your phone
Copy link to sectionOverview
We love Kraken because it’s a beginner-friendly crypto trading platform, one that’s designed to make it quick and convenient to buy and sell crypto on the go. The Kraken mobile app provides access to over 200 cryptocurrencies making it one of the most diverse platforms around.
With an intuitive interface and many advanced features, the Kraken crypto app is suitable for those just starting, or experienced traders wanting to enhance their trading experience. The Kraken mobile app caters to different trading styles and preferences with spot, margin, and futures all available.
Kraken’s mobile app also supports up to 5:1 leverage allowing you to amplify your position and potentially increase your returns. With such a wide selection of tokens available and a solid range of features and tools, the Kraken app is one of the top cryptocurrency trading platforms while on the go.
The fees: Kraken charges a fee of between 0-0.26% on every crypto trade. There are no costs to set up an account and no flat trading fees.
Highlights
No. of tradable assets | 200+ |
Min. Deposit | £10 |
ID verification required | Yes |
Free demo account | Yes |
Supported assets | Cryptocurrencies, NFTs |
Mobile trading app | Yes |
Web trading platform | Yes |
Regulatory bodies | FSA, AUSTRAC, FCA, MiFID II, FinCEN, FINTRAC |
Fees & Costs
Trading fees | Yes |
Inactivity fees | No |
Rollover/overnight fees | No |
Withdrawal fees | No |
Spreads | Yes |
Conversion fees | Yes |
Pros & Cons
4. Uphold. Best for building long term wealth
Copy link to sectionOverview
We love Uphold because it’s a regulated and transparent digital asset platform. Uphold is an excellent platform for discovering important new tokens early, making it ideal for investors looking to get in on the ground floor of emerging cryptocurrencies.
Uphold offers a broad selection of coins, with over 250 tokens available catering to both seasoned and novice crypto traders. The platform regularly adds new assets allowing users to invest in promising projects before they gain mainstream attention.
Uphold isn’t just a platform for investing early. One of the main advantages of using Uphold is its transparent and competitive fee structure. The platform does not charge for deposits or withdrawals, and trading fees are clearly stated. You can also trade between different asset classes including fiat currencies.
The fees: Crypto spreads start from 0.9% and are usually lower than 1.3% for BTC and ETH. Other cryptocurrency spreads are higher. Average spreads on fiat currency are 0.2%. There is a $0.99 fee for transactions under $100 made with the Uphold card.
Highlights
No. of tradable assets | 250+ |
Min. Deposit | $1 |
ID verification required | Yes |
Free demo account | Yes |
Supported assets | Cryptocurrencies, Commodities, Currencies |
Mobile trading app | Yes |
Web trading platform | Yes |
Regulatory bodies | FSA, FinCEN |
Fees & Costs
Trading fees | No |
Inactivity fees | No |
Rollover/overnight fees | Yes |
Withdrawal fees | No |
Spreads | Yes |
Conversion fees | Yes |
Pros & Cons
Terms Apply. Cryptoassets are highly volatile. Your capital is at risk.
5. AvaTrade. Best regulated broker for secure trading
Copy link to sectionOverview
We love AvaTrade because it is a reliable CFD broker, that gives users access to a wide range of markets. As a CFD broker, AvaTrade lets you speculate on the price movements of various crypto markets without owning the underlying assets. AvaTrade is a multi asset brokerage firm and includes CFDs on many of the biggest cryptos including Bitcoin, Ethereum, Dogecoin, and more.
AvaTrade is also highly regarded for its strong regulatory framework and commitment to security. AvaTrade is regulated in multiple jurisdictions, including Europe, Australia, Japan, South Africa, and the British Virgin Islands, which means it must adhere to stringent regulatory standards across the world.
AvaTrade isn’t just well regulated, it also employs advanced security measures to protect client funds and personal information, including segregated accounts and robust encryption technology.
The fees: There is no commission on any trading. AvaTrade makes money from the Bid/Ask spread instead. Crypto spreads start from 0.13%. Positions left overnight are charged a swap fee that varies depending on size. An inactivity fee of £/€/$50 per month is applicable if you don’t log in to your account for three consecutive months.
Highlights
No. of tradable assets | 1250+ |
Min. Deposit | $100 |
ID verification required | Yes |
Free demo account | Yes |
Supported assets | Stocks, Stock CFDs, ETF CFDs, Forex CFDs, Crypto CFDs, Commodity CFDs, Index CFDs |
Mobile trading app | Yes |
Web trading platform | Yes |
Regulatory bodies | FSCA, FSA, ASIC, CBI, MiFID, CySEC, BVIFSC, FRSA |
Fees & Costs
Trading fees | No |
Inactivity fees | Yes |
Rollover/overnight fees | Yes |
Withdrawal fees | No |
Spreads | Yes |
Conversion fees | No |
Pros & Cons
6. KuCoin. Best social trading altcoin exchange
Copy link to sectionOverview
We love KuCoin because it’s a great place for beginners to trade more than 700 altcoins. Kucoin offers a vast range of cryptocurrencies including all the big names like Bitcoin and Ethereum, together with hundreds of altcoins and newly released tokens.
The exchange gives you multiple ways to trade and invest in crypto, including spot trading, futures trading, margin trading, and staking. This choice allows you to choose the method that best suits your trading strategies and risk tolerance.
Kucoin is a top platform for both beginners and experienced traders. Its intuitive interface is easy to get to grips with and its advanced trading features mean even high volume traders can make use of it. Kucoin also offers an earn feature, where you can generate passive income through staking and lending, making it one of the best all round crypto exchanges.
The fees: Trading fees are charged on a sliding scale. Fees are 0.1% on trading volumes below 50 BTC in a 30 day period. Discounts are available if you pay fees in KCS or store more than 1000 KCS in your account.
Highlights
No. of tradable assets | |
Min. Deposit | |
ID verification required | No |
Free demo account | No |
Supported assets | |
Mobile trading app | No |
Web trading platform | No |
Regulatory bodies |
Pros & Cons
7. Exness. Best for tight spreads and a pro-style trading experience.
Copy link to sectionOverview
We love Exness because of its tight spreads, which make it a top choice for traders looking to minimize trading costs and maximize profitability. The brokerage offers some of the most competitive spreads in the industry, especially on markets like crypto. Excess offers 35+ cryptocurrencies via CFDs from various markets including metals, energy, and agriculture.
Its focus on low trading costs is ideal for both newbies and experienced traders looking to trade with minimal overheads. Exness also stands out for its range of trading terminals. It offers MetaTrader 4, MetaTrader 5, and the Exness web terminal. There’s also a dedicated mobile app meaning you’ll be able to always access your account.
Beginners can take advantage of a free demo account or micro-lots for low minimum trades, while more experienced traders can use the hundreds of pre built indicators available on the MetaTrader suite.
The fees: Standard accounts aren’t charged a commission but are charged through the spread. Spreads start from 0.3 pips on stocks, 1 pip on forex trades, and 7 pips on cryptocurrencies. Overnight fees apply on some assets (exc. swap-free accounts).
Highlights
No. of tradable assets | 250+ |
Min. Deposit | From $10 |
ID verification required | Yes |
Free demo account | Yes |
Supported assets | Stocks, Cryptocurrencies, Commodities, Currencies |
Mobile trading app | Yes |
Web trading platform | Yes |
Regulatory bodies | FSCA, FCA, CySEC, FSA, BVIFSC |
Fees & Costs
Trading fees | Standard accounts: no Professional accounts: yes |
Inactivity fees | No |
Rollover/overnight fees | Standard accounts: Yes, on some assets Islamic accounts: no |
Withdrawal fees | No |
Spreads | Yes |
Conversion fees | No |
Pros & Cons
What do I need to buy Bitcoin in Ecuador?
Copy link to sectionAs long as you have a phone or an internet connection you can invest in Bitcoins in Ecuador. However, to make your experience as quick and seamless as possible, these are the things you need to get started.
- A crypto exchange account. Choose a crypto exchange and set up an account in advance. Then you’re primed to invest in Bitcoin when the price reaches a level you’re happy with.
- A way to pay. Many people in Ecuador buy Bitcoin with a bank account or card payment. You can also buy crypto with PayPal or another e-wallet. Make sure you have the details of the account you want to use, whether that’s your credit card, PayPal, or a different service.
- Copy of your photo ID. You usually have to provide ID when you’re buying Bitcoin in Ecuador. Ecuadorian crypto brokers ask for ID verification in order to comply with KYC (Know Your Customer) regulations, which are in place to prevent fraud.
- A personal crypto wallet (optional). Once you’ve purchased your Bitcoin, you can choose to either leave it on the exchange or move it to a personal crypto wallet for extra security. To save time, set up a wallet on a popular wallet like MetaMask in advance.
It is possible to buy cryptocurrency in Ecuador without providing ID through a P2P exchange, but these are a bit less secure and more challenging to use, so we suggest only experienced crypto investors go down this path. Most people, on most exchanges, need to provide some form of ID.
How to buy crypto on the best Bitcoin broker in Ecuador
Copy link to sectionFollow this short guide to learn how to buy Bitcoin in Ecuador. This method is simple, and is the same process whether you want to buy and sell Bitcoin, or whether you prefer to trade crypto instead.
Step 1. Sign up to eToro
Copy link to sectionWe recommend eToro as the best crypto exchange in Ecuador for Ecuadorian users.
Step 2. Create an account
Copy link to sectionYou need to supply some personal contact details, such as your name and email address, in order to set up an account. Many Ecuadorian crypto exchanges require a form of photo ID as verification before you can use your account to buy cryptocurrency in Ecuador.
Step 3. Deposit funds in your chosen currency
Copy link to sectionGo to the bank or deposit section of your crypto trading platform account. Here, you can enter the amount you wish to deposit, choose your preferred payment method, such as a bank account, credit or debit cards, and transfer the money you want to use to buy crypto onto the exchange.
Step 4. Search your favourite crypto
Copy link to sectionYou purchase Bitcoin and other cryptocurrencies by first typing the coin name or symbol into the search box. For example, to buy crypto online, search for the symbol, BTC. Then you enter the details of the trade.
Step 5. Buy cryptocurrency in Ecuador
Copy link to sectionFinally, to buy Bitcoin or any other crypto asset, hit the ‘buy’ or ‘trade’ button. Fill in how much cryptocurrency you want to buy, and execute the trade.
Step 6. Transfer your cryptocurrency to a crypto wallet (optional)
Copy link to sectionYour crypto assets will show up in your exchange wallet once the trade goes through. You can leave them there, or you can move them to a dedicated crypto wallet.
With a wallet, you have more control over your money, but it’s a bit more inconvenient if you plan on trading regularly. You can learn more about how to find the best Bitcoin wallet in Ecuador below.
What is the best Bitcoin wallet in Ecuador?
Copy link to sectionWallets are private and unregulated, so they are available everywhere, to everyone, rather than being restricted according to where you live. MetaMask and Trust Wallet are a couple of the best crypto wallets and they are available all over the world.
However, there’s a trend towards crypto services operating as all-in-one platforms, where you can use one account that acts as both your exchange and wallet. The best option for most beginners is to sign up for a service like Binance or OKX, where you can buy crypto on the exchange and then store it on the same platform.
How to choose the best Ecuador crypto app
Copy link to sectionChoosing where to buy Bitcoin in Ecuador is important, and the right Ecuadorian crypto platform can save you a lot of time, stress, and money. Things like the exchange fees, storage facilities, and range of altcoins available should all impact your choice.
Here’s some advice on how to find the best way to buy crypto in Ecuador.
1. How much does the exchange charge to trade?
Copy link to sectionThere can be a big difference in the trading fees charged by each Ecuador based crypto exchange. While all exchanges generally offer low cost cryptocurrency trading, what they charge may vary widely. Taking the time to compare them can save you money. Below is a summary of the different types of fees crypto exchanges in Ecuador charge.
Fee | eToro fees | Eightcap fees | Kraken fees |
---|---|---|---|
Trading fees | Yes, on certain assets | Yes | Yes |
Inactivity fees | Yes | No | No |
Rollover/overnight fees | Yes, on CFDs | Yes, on certain assets | No |
Withdrawal fees | Yes | Yes, for certain payment methods | No |
Spreads | Yes, on certain assets | Yes | Yes |
Conversion fees | Yes, for non-USD currencies | Yes, currency dependent | Yes |
View more > | eToro > | Eightcap > | Kraken > |
Trading fees are usually charged as a percentage of the trade. The best crypto exchange in Ecuador with low fees will charge 1% or less of the trade amount. Some services charge a lot higher. Here’s a look at the specific trading fees each of the top Ecuadorian crypto trading platforms charge.
Asset | eToro fees | Eightcap fees | Kraken fees |
---|---|---|---|
Cryptocurrencies | 1% | Up to $3.5 RT | 0.10% – 0.26% (volume dependent) |
Commodities | From 2 pips | Up to $3.5 RT | – |
Currencies | From 1 pip | Up to $3.5 RT | – |
Indices | From 0.75 pts | Up to $3.5 RT | – |
Stocks | 0% commission | Up to $3.5 RT | – |
Stock CFDs | 0.15% | – | – |
ETF CFDs | 0.15% | – | – |
View more > | eToro > | Eightcap > | Kraken > |
You may also have to pay deposit and withdrawal fees. You rarely have to pay for depositing fiat currency via a bank account or credit or debit card, but you may be charged a flat withdrawal fee. There’s often a significant charge for withdrawals made in digital currency.
2. How does the exchange store customer funds?
Copy link to sectionCrypto exchanges are available widely, but the important question is whether they are regulated in Ecuador. The Central Bank of Ecuador (BCE) is the financial body that decides whether crypto exchanges in Ecuador have a license to operate, and decides what type of crypto assets are permitted in Ecuador.
It’s the regulation that provides protection in the event that something happens to the exchange and you lose the money you hold on there. Crypto regulation varies around the world, and in many cases crypto platforms are based outside of Ecuador and licensed to operate internationally by their local regulator. Here are the top Ecuadorian crypto exchanges and the financial bodies that regulate them around the world.
Region | eToro regulators | Eightcap regulators | Kraken regulators |
---|---|---|---|
Africa | – | – | – |
Asia | – | – | FSA |
Australasia | ASIC | ASIC | AUSTRAC |
Europe | FCA, CySEC | FCA, CySEC | FCA, MiFID II |
International | – | – | – |
North America | FinCEN | – | FinCEN, FINTRAC |
South America | – | – | – |
View more > | eToro > | Eightcap > | Kraken > |
In addition to the regulation, you want to pick a reputable exchange that stores its customers’ funds safely. The best Bitcoin exchanges in Ecuador should store your funds in segregated accounts and, ideally, in cold storage (offline). Choosing a Ecuador crypto exchange that has been audited by a reputable accountancy firm can give you extra peace of mind.
3. Is the platform easy to use?
Copy link to sectionA good user experience means more than being able to navigate around the website with ease. Think about how you plan to trade: are you going to trade from your phone? How are you going to manage your crypto portfolio? Are you after particular analysis tools, charts, or software integrations?
For new users, the focus should be on educational tools, like a demo account, trading tutorials, and walkthrough guides. Here’s a comparison of the resources available from each top Ecuadorian exchange.
Educational resource | eToro resources | Eightcap resources | Kraken resources |
---|---|---|---|
Demo/virtual account | Yes | Yes | Yes |
Video tutorials/webinars | Yes | Yes | Yes |
Walkthrough guides | Yes | Yes | Yes |
Copy trading | Yes | No | No |
Trading academy | Yes | No | Yes |
View more > | eToro > | Eightcap > | Kraken > |
For more advanced crypto investors, your focus might be on the additional trading tools on offer. These tools can be things like adjustable charts that you can use to track specific technical indicators or identify patterns, or it might be more analysis based, making it easier to assess the state of the crypto market as a whole.
Trading tool | eToro tools | Eightcap tools | Kraken tools |
---|---|---|---|
Charts | Yes | Yes | Yes |
News feeds | Yes | Yes | Yes |
Analyst recommendations | Yes | Yes | No |
Fundamental analysis | No | Yes | No |
Financial calendar | Yes | Yes | No |
MetaTrader integration | No | Yes | No |
View more > | eToro > | Eightcap > | Kraken > |
Armed with that information you can start to narrow down your shortlist by considering if the exchange suits you. For instance, if you plan to do a lot of trading on the go, then you should focus on the platform that offers the best crypto app in Ecuador.
4. What is the account verification process?
Copy link to sectionWhen you create an account, you’ll often be asked to supply some personal details and a form of ID to verify your identity. It’s normally a prerequisite for any crypto exchange to be regulated in Ecuador.
It’s a good idea to check what the verification process is before you sign up. That way, you can have the relevant documents to hand to create a seamless sign up process. Or, if you want to avoid supplying personal details, you can filter out the crypto exchanges in Ecuador that demand verification in order to use them.
5. How many cryptocurrencies are available?
Copy link to sectionYou can buy Bitcoin in Ecuador through any cryptocurrency exchange, but beyond that the number of available coins can vary. If you want to trade altcoins, look for a Ecuador crypto exchange that offers a large number of coins and ‘crosses’, where you can swap from one crypto to another.
6. Which currencies can you deposit?
Copy link to sectionFor most people, a crypto exchange in Ecuador is a means to transfer local fiat currencies into cryptocurrency. However, lots of crypto exchanges in Ecuador only accept US dollar deposits, which can be an issue if that is not your primary currency.
If you don’t have access to US Dollars, then it might be best to choose a large exchange like Binance or a local exchange that’s specifically designed for crypto traders in Ecuador.
7. Which payment methods are accepted?
Copy link to sectionDecide how you want to pay for your crypto. If you want to fund an account with the best Ecuador crypto exchange using bank transfers or debit card payments, then most Ecuadorian crypto exchanges accept deposits from bank accounts and you don’t need to worry.
A cryptocurrency exchange in Ecuador is less likely to accept alternative payment methods, like PayPal and other e-wallet services. The larger ones, such as Binance, do accept a wide variety of payment methods, but it’s still a good idea to check whether you can pay how you want before signing up.
8. Does it offer additional features, like staking or lending?
Copy link to sectionThink about what you might want to use the exchange for and use that to influence your decision. Do you want to store or stake your coins? Lend them to earn interest, or borrow crypto yourself?
You can buy crypto in Ecuador through any Ecuador based crypto exchange that’s regulated, but not all platforms offer all these services. You may be happy to juggle multiple logins and use different exchanges, but it’s normally easier to use one service, at least to start with.
9. What’s the customer service like?
Copy link to sectionOne final point to consider is how the exchange deals with its customers and how well it responds to any queries you may have. One way to judge this is by assessing how easy it is to contact them. An extensive help centre or FAQ section is useful, but you should also consider whether there’s a live chat feature or another convenient way to speak to customer support, such as WhatsApp or Telegram.
Support type | eToro customer support | Eightcap customer support | Kraken customer support |
---|---|---|---|
Help Centre/FAQs | Yes | Yes | Yes |
Yes | Yes | Yes | |
Live chat | Yes | Yes | Yes |
Platinum, Platinum+, and Diamond members only | No | No | |
Telephone | No | – | No |
View more > | eToro > | Eightcap > | Kraken > |
Another way to judge how well an exchange treats its customers is to read what those customers have to say about them. There are many third-party review platforms where regular users can rate the service. Use their feedback to help you judge whether a Ecuadorian crypto exchange is for you.
Review source | eToro rating | Eightcap rating | Kraken rating |
---|---|---|---|
Trustpilot | 4.4 | 4.3 | 1.5 |
Google Play Store | 4.1 | 4.1 | 4.4 |
App Store | 3.8 | 3.8 | 4.7 |
View more > | eToro > | Eightcap > | Kraken > |
What type of Ecuadorian crypto exchanges are there?
Copy link to sectionMost crypto investors use a centralised, global exchange, like Binance or Coinbase. But cryptocurrency exchanges in Ecuador come in different forms. Here is a breakdown of the most common types:
- Centralised. In a centralised exchange, there is an authority – in this case a company – that operates the service. You create an account and deposit money, and the funds are held by the entity in the middle. When you make trades, they go through the central authority. The biggest crypto exchange, Binance, is an example of this type of platform.
- Decentralised. On decentralised exchanges there is no central authority. Instead, buyers and sellers deal with each other directly, and the crypto trading platforms are just the mechanism for connecting them. You can’t create an account, the crypto is sent from one wallet to another when a transaction takes place
- Peer-to-peer (P2P). A peer-to-peer exchange operates like a decentralised exchange, but there’s still a central body that acts as the intermediary. Each side in a transaction makes the payment, and the central body releases the funds as soon as both sides have sent money.
Can I buy traditional financial assets on a crypto exchange in Ecuador?
Copy link to sectionOn some platforms you can, but a better option is to sign up for a dedicated service that offers the specific assets you want to trade. The best trading platforms in Ecuador allow you to buy and sell stocks, while the best forex brokers in Ecuador is best for currency trading. The best cfd brokers in Ecuador offer a mixture of all these assets.
Which crypto exchange in Ecuador has the best user reviews?
Copy link to sectionWe surveyed our Ecuadorian users to find out which crypto exchange provided the best service to everyday people, just like you. Below we’ve summarised their findings, with each exchange ranked out of five.
Review source | eToro rating | Eightcap rating | Kraken rating |
---|---|---|---|
Trustpilot | 4.4 | 4.3 | 1.5 |
Google Play Store | 4.1 | 4.1 | 4.4 |
App Store | 3.8 | 3.8 | 4.7 |
View more > | eToro > | Eightcap > | Kraken > |
To summarise
Copy link to sectionTo invest in cryptocurrency in Ecuador, whether that’s Bitcoin, Ethereum, or something else, you need to sign up to a crypto exchange or app. Preferably one that’s regulated in Ecuador by the Central Bank of Ecuador (BCE), so that your funds are protected online.
This guide explains how to buy cryptocurrency in Ecuador using a top crypto exchange in a simple, straightforward way. You can invest in Bitcoin as a means to find a long term store of value or short term speculation. Consider which approach you want to take when choosing the best app to purchase Bitcoin in Ecuador, then choose a low-cost, intuitive platform to start your crypto journey.