Founded in 2015, Buda crypto exchange is a company that develops and operates cryptocurrency markets in Chile, Colombia, Peru, and Argentina. It is based in Santiago de Chile. The aim of the company is to be at the forefront of the digital and cryptocurrency revolution happening in South America.
The company is largely focused on markets in Argentina, Chile, Colombia, and Peru. Although citizens of other nations can participate on the platform, they just must ensure that cryptocurrency activities are permitted in their countries. The exchange makes use of world-class KYC verification methods to ensure the validity of all users. In addition to uploading identity cards and utility bills, users must upload a selfie as well. Besides, the Buda cryptocurrency exchange has an AI system to ensure that all selfies are real.
Markets
There are 5 markets available on the platform – BTC, COP, PEN, ARS, and CLP. The exchange operates a crypto-fiat trading system with 21 Buda trading pairs. Some of the major cryptocurrencies supported include BTC, ETH, BCH, and USDC. These assets are all traded on the Buda spot market. However, the Buda cryptocurrency exchange does not support margin or leveraged trading.
Buda exchange fees for maker and taker trades are different. For maker trades, the platform charges 0.4% while taker trades are charged 0.8%. Furthermore, it makes use of a tiered system to incentivize traders to trade more. Basically, the higher your Buda trade volume is for the month, the lesser you'll pay for trading fees. There are 7 tiers available with the last tier paying just 0.2% and 0.1% for taker and maker trades, respectively.
In terms of withdrawals, the Buda crypto price for BTC withdrawals is pegged at 0.000051 BTC per withdrawal. Withdrawals in fiat currencies have bank processing and system charges attached to them as well. Buda crypto fees for deposits, on the other hand, are dependent on the method used. Crypto deposits are free but fiat deposits incur processing charges.
About the Company
The company was co-founded by Alejandro Beltran and Guillermo Torrealba in the year 2015.
Alejandro has over 10 years of experience with financial instruments, brokering investments, and traditional capital markets. He is a graduate of Universidad De Los Andes with a degree in Corporate Finance and he also holds a master's degree in New Technologies from the University of Salamanca. He currently serves as the country manager for Buda in Colombia. Before co-founding Buda, he worked as a Foreign Trade Analyst at Bancomext.
Guillermo graduated from Universidad de Chile with a degree in Business. He worked as a consultant with Innspiral, and he is the co-founder of Baltoro, an energy efficiency company.
In terms of partnerships, the Buda cryptocurrency exchange has now partnered with Bogota’s Bank, offering its users in Colombia the possibility of making direct deposits and withdrawals to and from the exchange respectively. While these operations were already supported by Colombian banks, this new alliance recognizes these ones as official transactions to exchanges, liberating the users from any block or other measures that the banking operator could take.
If you want to see the current Buda volume, check out the chart above.
