Jungles of the Amazon are known for many great things and while human eating cannibal tribes are not one of them then luckily, bitcoin and the blockchain technology, is being embraced even in the remote civilized regions of the southern hemisphere. There are some known testimonies about bitcoin being a savior for the poor in the unstable third world economies. One of such places is Brazil, while we are all familiar with the glamour that surrounds this exotic getaway, bitcoin regulations are another story. You have come to the right place to learn about bitcoin regulations in Brazil while discovering BTC exchanges and online gambling possibilities.
Bitcoin Regulations in Brazil
We must admit that when it comes down to the bitcoin regulations, strict is the word that comes to mind when thinking about Brazil. But it is not the regulation itself but the lack of them that causes not too favorable grounds for the blockchain startups. You are stuck being same tax like any other business in the country, which is 15%, but besides taxation, there are many licenses required, acquiring of which have proven to be both costly and timely endeavor. One positive way to look at no regulation is that there is no limit to how much bitcoin you can hold and besides that, the anonymity that the blockchain provides would make it relatively hard for anyone to track anyway.
Brazil Bitcoin Exchanges
There are many ways how you can buy bitcoin being the citizen of Brazil or just visiting. One of the most popular platforms that accept credit card payments for BTC is CoinMama and you can access this site from Brazil. CEX.io is another bitcoin exchange that supports Brazillian customers. You can buy bitcoin through Peer-to-Peer platforms such as Paxful or Localbitcoin. Keep in mind to look for the traders with at least 1000+ positive feedback and never release escrow before you have received what you are buying. Beware of traders who try to get you to release escrow before completing their end of the bargain or asking you to move the trade outside of the platform! FoxBit is another popular bitcoin exchange for Brazil. You can find a few BTC ATM's that are located in Brazil through CoinATMRadar.
Online Gambling in Brazil
Brazil is also quite strict with online gambling and has prohibited to for any Brazil-based company to offer such services. There is a loophole which allows Brazilians wager and play on offshore gambling sites but Senate introduced a bill earlier this year that plans to shut that down as well. Once again, it seems like all roads lead to the bitcoin and blockchain technology thanks to the anonymity that it provides. Check out our bitcoin casino reviews to find the best anonymous BTC casino for you!