Buda

Buda Exchange

Buda, which kicked off as SurBTC in 2015, is a centralized crypto exchange calling Santiago, Chile, its home base. Its goal has been to make crypto trading straightforward for folks across Latin America, specifically in Chile, Argentina, Colombia, and Peru. The platform lets users trade cryptocurrencies like BTC, ETH, BCH, and USDC using local currencies such as CLP, ARS, COP, and PEN, catering directly to the region’s needs. As of late 2024, Buda remains operational, though its 24-hour trading volume hovers around a modest $737,172.

Highlights of the Platform

One of Buda’s biggest draws is how it integrates local currencies, allowing seamless buying and selling of crypto with CLP, ARS, COP, or PEN through bank transfers or Powwi for deposits, which is a real win for Latin American users. Fees are reasonable, starting at 0.4% for makers and 0.8% for takers, but can drop to 0.2% and 0.1% if you’re a high-volume trader, and BTC withdrawals are a low 0.000051 BTC. They’ve got a mobile app for Android and iOS, handy for checking balances or making payments via the Lightning Network, though some features can feel a bit basic. On the security front, Buda keeps 90% of funds in cold storage, claims 99.9% uptime, and uses KYC with AI selfie verification to lock down accounts. It also partners with Banco de Bogotá for smooth bank transfers and Chainalysis to fight scams, which adds a layer of trust for users in the region.

What to Watch Out For

There are some limitations to consider with Buda, like its small selection of just 10 coins and 23 markets, which pales in comparison to larger platforms like Binance. User feedback varies—while some appreciate how easy it is to cash out in Latin America, others on forums have pointed out high fees and app issues, such as the lack of limit orders, which can be frustrating. Buda isn’t regulated by a major authority, though it does follow local AML rules, so that might give you pause if you’re big on oversight. It’s heavily geared toward Latin American users, so if you’re outside the region, the fiat options might not be as useful. Lastly, while there haven’t been any hacks, the mandatory KYC and past bank account freezes—like one in Colombia back in 2018—suggest there could be some risks to keep in mind. Buda’s a practical pick for Latin Americans looking for a local crypto hub with decent security, but its smaller scope and mixed reviews might not suit everyone. You can visit them at https://www.buda.com.