What cryptocurrencies are available on Mercado Pago and how can I buy them?

Find out which cryptocurrencies are available on Mercado Pago and how you can make a purchase

Do you know which cryptocurrencies are available on Mercado Pago?

At the end of 2021, this platform received the functionality to buy and sell digital assets directly through the application.

This certainly brought benefits and a lot of practicality for those who want to invest in cryptocurrencies.

But after all, how do you acquire cryptocurrencies through Mercado Pago? What are the available options?

That's what you're going to find out now. Keep reading to find out more.

What is Mercado Pago?

Mercado Pago, Mercado Livre's digital wallet, is a payment solution.

By creating an account on your platform, you can make purchases on Mercado Livre with the money you have in your Mercado Pago account, pay bills and make transfers.

It was developed to better manage sales for those who are thinking about selling used items on Mercado Livre or even opening their own business.

However, the service is not restricted to just Mercado Livre purchases and sales.

In fact, the money left in the Mercado Pago account yields 100% of the CDI, which is higher than the yield offered by the traditional savings account.

Buying and selling operations are protected by the platform, which brings more security to customers.

What are the main advantages of having a Mercado Pago account?

Among the main advantages of creating an account on Mercado Pago, we can mention:

Practicality in payments

Both retailers and consumers benefit from the convenience that the platform offers.

In fact, with MP, it is even possible to transform social networks into new points of sale.

To do this, you just need to create a payment link and post it on one of the main social media platforms. In addition, the link can also be shared on WhatsApp.

Digital wallet

You can leave your money deposited in Mercado Pago and use it for various transactions.

Money saved in Mercado Pago yields 100% of the CDI (more than savings). In addition, your MP account has daily liquidity.

However, as it is not linked to any bank, there is no guarantee of Credit Guarantee Fund (FGC).

How do I open a Mercado Pago account?

Opening an account at Mercado Pago is very easy.

In fact, the entire process is done completely digitally.

To get started, download the app and create your account. You will need to have your ID and CPF on hand.

Once you’ve downloaded the app, it’s time to validate your email. The process is very similar to opening an account at a digital bank.

A code will be sent to your email. Enter it and click “Confirm code”. Now, go to “Validate your identity”.

Allow the application to access your camera and click “Continue” to take a photo of the front and back of your ID (CNH is also valid).

After that, you will need to take a photo of your face to confirm your identity. Click “Continue”.

Enter your CPF and click “Continue” again.

Now, you need to enter your first and last name. Click “continue”.

You will receive a message about the account validation process. To finish, click on “Continue”. When your data is confirmed, a message will be sent to your email.

To make sure that the email was sent by Mercado Pago, check the links in the email you received and the address of the page you are directed to.

What cryptocurrencies are available on Mercado Pago?

By having a Mercado Pago account, you will be able to carry out various operations, such as purchasing cryptocurrencies.

The cryptocurrencies available for purchase and sale through Mercado Pago are:

Bitcoin (BTC)

Bitcoin is considered the world's first decentralized virtual currency.

It is a type of electronic money that can be transferred without the intermediation of banks and other financial institutions.

Transactions are confirmed on the blockchain, a system that records users' trades.

It is the best-known cryptocurrency and has the highest market value.

Unlike other currencies, such as the dollar, real or pound, Bitcoin only exists in the virtual environment.

Ethereum (ETH)

Ethereum is an online platform that allows the application of Blockchain technology for various purposes.

Ether (ETH) is its cryptocurrency.

Although there are some differences between the two terms, the name ethereum is generally used to refer to the digital currency.

Pax Dollar (USDP)

The Pax Dollar is also a virtual currency.

It is also available on Mercado Pago, although it is not as well known as Bitcoin and Ethereum.

This cryptocurrency, traded online, allows payments without intermediaries, at a low cost.

The Pax Dollar (USDP) is a stablecoin (coins whose value is more stable) pegged to the value of the dollar.

How to buy cryptocurrencies on Mercado Pago?

Now that you know what Mercado Pago is and which digital currencies are available on the platform, see the step-by-step guide to making a purchase and starting to invest in cryptocurrencies:

• On the app’s home page, click on the “Crypto” option

• Click on the “buy cryptocurrencies” option and accept the terms and conditions

• Choose the cryptocurrency you want to purchase

• Enter the amount you wish to invest

• Complete the transaction by clicking on “buy”

What are the advantages of buying cryptocurrencies through Mercado Pago?

Mercado Pago is a secure platform, well known by small entrepreneurs and people who usually buy and sell products on Mercado Livre.

However, as you have already seen, it is also possible to purchase cryptocurrencies through this platform.

Among the main advantages of buying cryptocurrencies through Mercado Pago, we can mention:

• Transactions from R$ 1

• Security in your operations

• Purchases and sales managed by the application

• Intuitive interface

It is important to remember that a fee of 2% is charged on any purchase or sale transaction in reais.

Conclusion

Now you know which cryptocurrencies are available on Mercado Pago and what the purchasing process is like!

Mercado Pago is a payment platform created by Mercado Livre, which makes it more reliable, secure and modern.

However, before you start investing in cryptocurrencies, it is essential that you know what your investor profile is, set financial goals and, obviously, understand the risks involved in this market.