Ecuador Money Guide

Cryptocurrencies such as Bitcoin are not legal tender in Ecuador, but their use is not prohibited. According to the Central Bank of Ecuador, financial transactions made with Bitcoin and other cryptocurrencies are not controlled, supervised, or regulated by any entity in Ecuador.

Using ATMs to Buy and Sell Bitcoin and Other Cryptocurrencies

In Cuenca and Quito, you can find special ATMs where you can buy and sell Bitcoin, Litecoin, Dogecoin, and USDT (TRON). These ATMs are operated by the company Cajeros Bitcoin Ecuador. On their website, you can find the exact locations of the ATMs.

To purchase Bitcoin at one of the ATMs, you need to deposit a minimum of $20 in cash into the machine. The purchased cryptocurrency is then sent to your digital wallet. Selling Bitcoin through these ATMs is slightly more complex and time-consuming due to the multiple transaction confirmations required. The machines provide QR codes for guidance and offer contact via WhatsApp, making the process more user-friendly.