In Latin America, Uruguay is one of the few countries whose cryptocurrency landscape is considered “progressive”. Some neighboring countries that wear this similar badge are the Dominican Republic, Chile, and Paraguay.
This progressive label is due to the government’s proactive stance in promoting blockchain technology and exploring the potential of digital currencies. This is visible with the establishment of a comprehensive legal framework for cryptocurrencies in October 2024, eliminating the “grey area” effect and boosting confidence in virtual currencies.
This has led to impressive growth in crypto adoption by market size and user base. Statista reports US$5.9 million market revenue was generated in 2024, while a negative growth of US$5.7 million is forecasted for 2025. The number of users of cryptocurrencies or should I say spenders, is expected to reach about 164,400 in 2025.
This data reflects the growing market of cryptocurrencies in Uruguay and why you should consider it as a crypto hub. In this article, we will take a trip to the world of these spenders, showing you the best places where they spend cryptocurrencies in Uruguay and why you should join them.
Key Takeaways
- Cryptocurrencies are legal and regulated, but their tax implications remain unstated.
- The two leading cities where you can spend crypto in Uruguay are Punta del Este and Montevideo.
- This is because they are tourist-attractive and tech-savvy hotspots.
- Hotels, restaurants, cafés, and tech companies lead businesses that accept cryptocurrencies.
- At least one Bitcoin ATM exists in Punta del Este.
Where to Spend Crypto in Uruguay
Tourism, real estate and remittances are the leading sectors accepting cryptocurrencies as payment in Uruguay. Statista reports that the tourism sector will generate US$272,660,000 in 2025 with a 6.18% increase to about US$346,580,000 through 2029.
Uruguay is a popular and beautiful tourist destination in South America with two major cities being the most attractive spots. These cities are no other than Punta del Este and Montevideo. Let’s proceed to explore these cities and the best spots where you can spend crypto.
1. Punta del Este – Tourism and Hospitality
This is a stunning resort town on Uruguay’s southern coast, where the Río de la Plata (river) meets the Atlantic Ocean. It is popularly known as the “St. Tropez of South America,” and it boasts beautiful beaches like Playa Mansa and Playa Brava.
Source: costacruises.co.uk
Punta del Este has iconic landmarks such as La Mano sculpture, and a mix of modern and colonial charm. It is a tourist destination due to its golden sands, vibrant nightlife, luxury yachts, and cultural gems like Casapueblo, offering a perfect blend of relaxation, adventure, and sophistication.
As a leading tourist destination, there are many businesses in Punta del Este that accept cryptocurrencies. Some of these are:
Tech startups and Bitcoin ATMs in Punta del Este
1. Bitcoin ATMs
Finding it difficult to spend crypto in Punta del Este? You could simply head over to its Bitcoin ATM. There is at least one Bitcoin ATM in Punta del Este, providing users the flexibility of making crypto and fiat transactions.
Source: https://correopuntadeleste.com
All you have to do is to locate this address: “Gorlero entre calle 29 y 30 Maldonado, 20000 Uruguay,” and you are on your way to Uraguay Crypto Paradise.
At the time of this report, the Bitcoin ATM supports only five cryptocurrencies (which include two national tokens): Ferret token, Urubit, Bitcoin, Binance coin (BNB), and Binance USD (BUSD).
2. Urubit
Crypto accepted: BTC
The Bitcoin ATM in Punta del Este was developed and installed by two Uraguayan companies in Punta del Este. One of these companies is Urubit. Urubit is a Maldonado-based startup that applies blockchain technology to logistics and supply chain management. It developed the software for the Bitcoin ATM.
Source: LinkedIn
3. IniBerto
Crypto accepted: BTC
Look at the image of the Bitcoin ATM above in Punta del Este, can you see the IniBerto logo? Yes! IniBertor is the second company that provided the hardware for the Bitcoin ATM.
Source: LinkedIn
The CEO of IniBierto has this to say about the Bitcoin ATM:
We intend to continue growing in Maldonado, then Colonia, Montevideo and by the end of the year we want to have coverage throughout the national territory. With this it has happened to us that other countries have consulted us to be able to install it.
- Adolfo Varela, IniBerto’s CEO
IniBerto is a ‘motivated’ crypto company that universalizes access to crypto and blockchain for everyone.
Hotels and Resorts in Punta del Este that Accept Crypto
The tourism business has led to the birth of many hotels and resorts that provide not just accommodation for the high influx of tourists, but also provide comfort.
This has led to the incorporation of crypto payments for booking rooms, restaurants, lounges and other businesses that serve these tourists in a bid to satisfy their choice of payments.
Leading online booking companies, Travala and Expedia, are leveraging this business opportunity by accepting crypto as a method of payment and offering such services to hotels.
In the list of hotels below, while some of these hotels may not directly accept crypto onsite, through booking companies such as Travala and Expedia you can secure accommodation and use their services using cryptocurrencies.
1. The Grand Hotel Punta Del Este, Punta del Este, Uruguay
Crypto accepted: Bitcoin, Ethereum, Binance Coin, AVA coin etc.
Source: Travala.com
The Grand Hotel Punta del Este is a luxurious 5-star hotel situated on Playa Brava in Punta del Este. It is renowned for its stunning beachfront location and ship-inspired contemporary design. It offers elegantly appointed rooms and suites with features like hydromassage tubs, Smart TVs, and a splendid sea with an overlooking view of the Atlantic Ocean.
Guests get to enjoy top-tier amenities, including a full-service spa with an indoor pool, sauna, and massage treatments, as well as an outdoor pool, gym, and beach services. The hotel has a Lighthouse Restaurant, which serves international cuisine, complemented by a rooftop bar and lobby lounge.
Source: Travala
2. Sunset Beach Hotel, Punta del Este
Crypto accepted: Bitcoin, Ethereum, Binance Coin, AVA coin etc.
Source: Travala
The Sunset Beach Hotel is a charming 3-star property, about 50 meters from Playa Mansa. It offers a prime beachfront spot with stunning sunset views. Obviously, that’s how it got the name. This hotel features elegantly decorated rooms with free Wi-Fi, plasma TVs, air conditioning, and some with sea views.
Guests can enjoy a daily buffet breakfast, a small indoor pool, a 24-hour bar, and complimentary beach services including towels, chairs, and umbrellas during the summer season. Its strategic location is one wonderful perk of this hotel. It is near the Peninsula, Gorlero Avenue, and Enjoy Punta del Este Casino and Resort.
Source: Travala.com
3. Park Hotel, Punta del Este
Crypto accepted: Bitcoin, Ethereum, Binance Coin, AVA coin etc.
Source: Travala
In the heart of Punta del Este lies this stylish 4-star boutique hotel in the Design District. It is barely 700 meters from Playa Brava and 1 km from Playa Mansa. It was opened in September 2023 and offers spacious, modern rooms with free Wi-Fi, Smart TVs, air conditioning, and views of the street or garden.
Guests enjoy a swimming pool, a serene garden with a solarium, a full-service spa with an indoor pool, and a fitness center. A daily buffet breakfast featuring brownies, muffins, and cakes is served, and the hotel’s restaurant offers Mediterranean cuisine.
Its prime location near Gorlero Avenue and Punta Shopping, along with a focus on personalized service, makes it a chic and relaxing choice for travelers seeking luxury and convenience.
2. Montevideo – Urban and Tech-Savvy Spots
Montevideo is the largest and capital city in Uruguay. It also doubles as the financial capital with the presence of multiple mega-businesses. When you think of Montevideo, the first thing that comes to mind is its laid-back beach atmosphere, café culture, and well-preserved old town.
It is situated on the southern coast, on the northeastern bank of the Río de la Plata, making it a major port and a centre for education and business, with industries including food processing, wool, oil, and cement.
These many businesses with hundreds and thousands of tourist clients have created a market for crypto transactions. Let’s take a glance at some of these businesses that accept crypto.
Businesses in Montevideo that Accept Crypto
1. Bulka café
Crypto accepted: BTC, BNB, USDT, ETH, SOL, USDC etc.
What sets Bulka café apart is its amazing collection of Russian pastries and its claim to some of the best coffee in Montevideo. Between us, Bulka café offers a serene environment where you can carry out some tasks on your laptop while sipping its amazing coffee.
One of the eye-catchy things about Bulka café is this notice at the entrance:
Source: Instagram
The sign says “Aceptamos Crypto” and no matter how bad your Spanish is, you can literally tell that it translates to “accept crypto” in English. Bulka café prides itself on cryptocurrencies which makes it a strong competitor to other cafés in Montevideo.
To get the experience of making crypto payments at the Bulka café, here’s a video showing how sleek the process is.
2. Puerto Mercado Hotel
Crypto accepted: Bitcoin, Ethereum, Binance Coin, AVA coin etc.
Source: Travala
Looking for a family-friendly 4-star hotel in Montevideo? The Puerto Mercado Hotel could be your perfect choice. This hotel is located in Ciudad Vieja in Montevideo, and it has about 46 rooms with a beautiful view of the city. There is free WiFi and a buffet breakfast.
It is a beautiful option for tourists as it is close to attractions like Plaza Matriz and Montevideo’s old city.
Source: Travala
3. Alfa Suites, Montevideo
Crypto accepted: Bitcoin, Ethereum, Binance Coin, AVA coin etc.
Sources: Travala
From the Alfa Suites, you can conveniently take a short walk to the Obelisco and the Tres Cruces Shopping Center in Montevideo. It was formerly Days Inn Montevideo and offers 54 rooms spread across 10 floors, including four suites.
Source: Travala
Each room is furnished with soundproof windows ensuring privacy, free WiFi, a personal computer, a minibar, and flat-screen TVs with cable channels. Guests can also enjoy amenities, such as air conditioning, a fitness centre, and a sauna.
To juggle your memory, here’s a summary recap of all the places listed above and their location:
| S/N | Place | Business/Service | Location |
| 1 | Bitcoin ATM | Exchange | Punta del Este |
| 2 | Urubit | Logistics | Punta del Este |
| 3 | Iniberto | Tech startup | Punta del Este |
| 4 | The Grand Hotel | Hotel | Punta del Este |
| 5 | Sunset Beach Hotel | Hotel | Punta del Este |
| 6 | Park Hotel | Hotel | Punta del Este |
| 7 | Bulka Café | Café | Montevideo |
| 8 | Puerto Mercado Hotel | Hotel | Montevideo |
| 9 | Alfa Suites | Hotel | Montevideo |
Tips for Spending Crypto in Uruguay
Spending cryptocurrencies in Uruguay can be fun and thrilling if you are fully informed about these tips:
Understand the Legal Landscape
Cryptocurrency is legal in Uruguay and well-regulated. In October 2024, law 20.345 was enacted, recognizing crypto as virtual assets and giving the Central Bank regulatory oversight.
This framework supports its use, but it is not legal tender like in El Salvador, so acceptance depends on individual merchants. Do remember such regulations may change or be updated in future. Do well to always be informed.
Be Aware of Tax Implications
The Uruguay crypto law 20.345 was quiet about tax implications but either way, you are advised to keep records of your transactions in case of a potential tax obligation.
Gains from selling or spending crypto may be subject to capital gains tax in the future. You should consult a local tax professional if you’re unsure for better guidance.
Find Crypto-Friendly Merchants
From the list of businesses above, you can notice they are all in two major cities—Montevideo and Punta del Este. Secondly you can also notice the businesses are either hotels, restaurants, or tech companies. Businesses in the aforementioned places are your best bet to spend crypto in Uruguay.
You could also find a local guide to help you in your quest or check online directories and forums for up-to-date lists of merchants.
Use Crypto Debit Cards
Now this is a smart one! You could simply use your ByBit virtual debit card to make payments. These cards convert your crypto to Uruguayan Pesos (UYU) at the point of sale, allowing you to use it anywhere cards are accepted. Be sure to check for cards with low conversion fees and ensure they support Uruguay’s payment networks.
Leverage Bitcoin ATMs
This should not be something new to you as we have talked about earlier and even dropped its location in Punta del Este. This ATM allows you to convert crypto to cash (UYU) for spending.
Opt for Peer-to-Peer Transactions
If other options fail, this should be your fallback plan. You can basically patronize any exchange P2P service, convert your crypto to fiat and make payments, especially for businesses that do not accept cryptocurrencies.
Plan for Volatility
Now you want to be very careful with this one. This is basically one of the reasons why some small businesses find it difficult to adopt cryptocurrencies. If you’re spending directly, ensure the merchant locks in the exchange rate at the time of purchase to avoid surprises. For conversions to UYU, consider timing your sales during stable market periods to maximize value.
Start Small and Test
In the words of Vincent Van Gogh:
“Great things are not done by impulse, but by a series of small things brought together”
You should begin with small transactions to understand the process, fees, and merchant reliability. For instance, buy a coffee or a souvenir with Bitcoin to get comfortable before larger purchases.
Stay Secure
Use a trusted wallet to store your crypto, and enable two-factor authentication (2FA) on any apps or exchanges. When spending, avoid public Wi-Fi to reduce security risks, and double-check wallet addresses to prevent errors or fraud.
Challenges of Spending Crypto in Uruguay
Now that you have know places to spend crypto in Uruguay and tips to ensure a smooth ride, here are some potential problems you may likely still encounter:
Limited Merchant Adoption
I do not need to say much here because the list above says it all. Aside from the service sector and some tech companies, you may find it difficult to locate companies outside these sectors that accept cryptocurrency. Most especially, the selected companies are usually located in Punta del Este or Montevideo.
Dependence on Intermediaries
For the hotels listed above, you could see that they had to rely on online booking companies, such as Travala to accept cryptocurrencies. While this is impressive, it will cost you more. Remember that these booking companies also charge for their services. This may also be the case with other businesses.
Price Volatility
Cryptocurrencies are notoriously volatile. If you’re spending directly, a sudden drop in value between selecting an item and completing the transaction could leave you short. Merchants who accept crypto might not always lock in the exchange rate instantly, adding uncertainty. Converting to UYU beforehand means you’re at the mercy of market swings during the sale.
High Transaction Fees
On-chain transactions, especially with Bitcoin, can come with crazy network fees during peak times. This would make small purchases inefficient unless you’re using a Layer 2 solution like the Lightning Network, which may not be universally supported by Uruguayan merchants yet.
Technical Barriers
Spending crypto requires some tech literacy—managing wallets, scanning QR codes, or navigating exchange apps. For newcomers or less tech-savvy users, this can be overwhelming. Mistakes like sending funds to the wrong address (irreversible in most cases) or losing private keys could discourage future transactions.
Internet Reliability
Crypto transactions rely on internet access, so if the internet ever gets down while you intend to make a transaction you have no other option than to wait. This might be embarrassing or discomforting especially if you have a busy schedule.
Infrastructure Gaps
Yes! There’s a Bitcoin ATM in Punta del Este, but so far that has been the only one I could verify (while writing this article). It is scarce, and expansion has been slow. Crypto debit cards are a workaround, but not all international providers operate seamlessly in Uruguay, and local issuance is limited. Without robust infrastructure, you’re often stuck with fewer convenient options.
These challenges don’t make spending crypto impossible but they can be exhausting and disturbing, anyways, you can always find your way around them, why? You are a crypto believer. How did I come to that conclusion? Because you are reading this article now.
Conclusion
To spend crypto in Uruguay, just head straight to Punta del Este or Montevideo and be prepared as your options are limited. From hotels, restaurants, and tech companies, you may not get the luxury to do so in other sectors.
While this challenge lingers, Uruguay presents numerous options to still make use of these digital assets—from its Bitcoin ATM to peer-to-peer transactions, to virtual debit crypto cards, you are indeed limitless!
FAQs
1. Is cryptocurrency legal in Uruguay?
Yes, cryptocurrency is legal under Law 20.345, enacted in October 2024. It’s classified as a virtual asset, regulated by the Central Bank of Uruguay, but it’s not legal tender like the Uruguayan Peso (UYU).
2. Where can I spend crypto directly in Uruguay?
You can spend crypto at selected merchants in Punta del Este (especially luxury retail and dining), Montevideo (cafés), and tourist spots like hotels or tour operators. Real estate agencies may often accept it too.
3. What’s the best city for crypto spending?
Punta del Este stands out due to its Bitcoin ATM and tourist-driven adoption. Montevideo follows as the capital with a growing tech-savvy scene.
4. Can I use a crypto debit card in Uruguay?
Yes, cards from providers like ByBit and Binance convert crypto to UYU and work at most card-accepting merchants. Check for compatibility and fees.
5. Are there Bitcoin ATMs in Uruguay?
Yes, there is at least one in Punta del Este at Smart Point on Gorlero Avenue. There are talks for more especially in cities like Montevideo, but at the time of writing, we could only verify one.
6. How do I find crypto-friendly businesses?
Look for crypto payment logos (e.g., Bitcoin or Ethereum symbols), ask merchants directly, or search online directories and local crypto forums. Your best bets are tourist areas and real estate markets.
