Exchange review · Latin America
Mercado Bitcoin Review 2027: Is It the Right Exchange for You?
Mercado Bitcoin, usually shortened to MB, is the largest crypto exchange founded in Brazil and one of the oldest in Latin America. It has millions of customers, deposits and withdrawals through the Pix instant payment system, and a product range that goes beyond cryptocurrencies into tokenised fixed-income investments.
In early November 2026 reports emerged of a hack in which more than $40 million was taken from wallets linked to the exchange. That event is recent, and details are still emerging. This 2027 review describes the platform and explains how customers should respond.
Brazil's Home-Grown Exchange
Mercado Bitcoin started in 2013. It was taken over and developed by brothers Gustavo and Maurício Chamati, and it grew with the Brazilian market through several cycles. In 2021 its parent company received a major investment from an international technology investor, which valued the group at more than $2 billion and made it one of the most valuable crypto companies in Latin America.
The group has used that capital to obtain licences, acquire smaller firms and build new product lines. It also expanded abroad by purchasing a licensed exchange in Portugal. The company shortened its consumer brand to MB while keeping the original name.
Products
MB positions itself as a digital investment platform.
- Crypto trading in more than two hundred assets against the Brazilian real.
- A simple buy and sell flow and a more advanced order-book interface.
- Digital fixed income. Tokenised receivables and credit instruments that pay a fixed or inflation-linked return in reais. This has become one of the company's main products.
- Staking and yield products on selected coins.
- Utility and fan tokens, including tokens issued for sports clubs.
- MB Pay, a digital account and card service operated under its payment institution licence.
- Services for institutions, such as custody and tokenisation.
Leverage and crypto derivatives are not part of the standard retail offer.
- Spot fee
- —maker / taker, base tier
- Founded
- 201314 years in 2027
- Trust score
- —CoinGecko, live
- Proof of reserves
- —licensed or registered
Tokenised Fixed Income, Explained
"Renda fixa digital" deserves explanation, since it is unusual among exchanges. MB takes real-world credit assets, such as payments owed to a company or court-ordered government debts, and divides them into tokens that investors can buy. Each token entitles the holder to a share of the repayments.
The appeal is a return in reais that is often higher than bank deposits. The risks differ from those of crypto:
- Credit risk. If the debtor does not pay, investors lose money. These are not government-insured deposits.
- Liquidity risk. Tokens may be hard to sell before maturity.
- Complexity. Each issue has its own terms, guarantees and risk rating.
Read the offering document for each product. A fixed rate is a promise by the debtor. It is not a guarantee by the platform.
Fees
MB's trading fees are higher than those of global exchanges. Its traditional schedule charges makers about 0.30% and takers about 0.70% at the base level, with reductions for higher volumes, and the company offers plans and promotions that change the rates. The simple buy flow includes a spread.
Deposits by Pix are free. Withdrawals in reais carry a small charge or are free above certain amounts. Crypto withdrawals cost a fee per asset and network.
Fixed-income tokens have no trading commission at purchase, but the platform earns a margin in structuring the product, which is reflected in the rate offered.
Regulation in Brazil
Brazil has moved faster than most Latin American countries to regulate crypto. A law passed in late 2022 established a framework for virtual asset service providers and named the central bank as supervisor. Detailed rules followed, setting requirements for authorisation, capital, governance, segregation of customer assets and anti-money-laundering controls.
Mercado Bitcoin has prepared for this for years. It holds authorisation from the central bank as a payment institution, which covers its digital account business. It has worked with the securities commission on tokenised investments, and it reports customer transactions to the tax authority as the law requires.
For Brazilian customers, using a domestic platform under central bank oversight offers legal clarity that offshore exchanges lack. The rules also mean that MB will ask for full identification and will report your transactions.
The November 2026 Security Incident
On 2 November 2026, according to blockchain security trackers, attackers compromised a system at Mercado Bitcoin and transferred more than $40 million in crypto from wallets associated with the exchange across several blockchains.
Because the incident is so recent, important facts may not yet be settled: the exact amount, how the attackers got in, whether customer withdrawals were restricted and for how long, and how the loss is being covered. Readers should rely on the company's official statements for the latest position.
Some general observations can be made.
- A company of MB's size and capital should be able to absorb a loss of this magnitude, and regulated Brazilian providers are expected to keep customer assets separate from their own.
- Hot wallet breaches at exchanges are usually covered from company funds. That has been the pattern across the industry in recent years.
- The period immediately after a hack is when scammers are most active, sending fake messages about "account verification" or "refunds".
Practical steps for customers:
- Read announcements only on the official website and app.
- Do not click links in emails or messages about the incident.
- Change your password and confirm that two-factor authentication is enabled.
- Check your balances and transaction history.
- If you hold assets you do not plan to trade, consider withdrawing them to your own wallet once withdrawals are operating normally.
Security Before the Incident
Until November 2026, Mercado Bitcoin had a good reputation for security, with no major public breach of customer funds over more than a decade. It used cold storage for most assets, held international security certifications and published reserve attestations. The incident does not erase that history, but it shows that no platform is immune.
Opening an Account
MB serves residents of Brazil. Registration requires a CPF taxpayer number and identity verification. Funding by Pix is immediate, and bank transfers are also accepted. Company accounts are available.
Customer service operates in Portuguese through chat and email. The app is well regarded, and the company publishes a large amount of educational material.
Taxes
Brazilian residents must report crypto holdings in their annual income tax return and pay capital gains tax on sales above a monthly exemption threshold. Exchanges based in Brazil report customer transactions to the tax authority every month. MB provides statements that make the return easier to complete. Rules on taxation of crypto held abroad and on certain transactions have been changing, so check the current year's guidance.
Who Is Mercado Bitcoin For?
MB suits Brazilian investors who want a domestic platform with Pix funding, tax reporting and investment products denominated in reais. It is a natural choice for people who want crypto and tokenised fixed income in one account.
It is less suitable for cost-sensitive active traders, who pay lower fees on global platforms, and for those seeking derivatives.
Mercado Bitcoin Compared With Rivals
Binance has a large share of crypto trading in Brazil and far lower fees, though it has faced regulatory questions there. Bitso competes with a strong app and regional reach. Brazilian banks and brokerages now offer crypto as well, usually with a narrow range. MB's distinguishing features are its long local history, its regulatory groundwork and its tokenisation business.
Tips for Customers
- Use the advanced interface and limit orders to reduce costs.
- Read the risk rating and terms of any fixed-income token before buying.
- Keep two-factor authentication on, using an app.
- Follow official channels for updates on the November 2026 incident.
- Diversify custody: do not keep everything on a single platform.
Verdict on Mercado Bitcoin
Mercado Bitcoin is a well-established, locally regulated platform with a broader investment offering than most exchanges. Its fees are on the high side, and the security incident reported in November 2026 is a serious matter whose full consequences are not yet known. Its scale and regulatory standing are reasons for cautious confidence. Until the company has explained what happened and what has changed, keep balances moderate and stay informed through official sources.