Crypto Carnivals: Why Rio de Janeiro Is About More Than Just Samba

Rio de Janeiro is usually associated with endless beaches, hillside favelas, and crowds dancing through the streets. But look a little deeper, and a different picture emerges. Rio is slowly but steadily transforming into one of South America's rising crypto hubs.

Local authorities are betting on the digital economy. Bitcoin is accepted even at beachside cafés, and a vibrant startup scene is building a unique ecosystem. 

At the same time, cryptocurrency has become a way to sidestep inflation and escape high banking fees, fueling a true crypto boom across the country.

The Relationship Between the State and Crypto 

In 2022, Rio de Janeiro’s mayor Eduardo Paes pledged to allocate 1% of the city’s treasury to Bitcoin. It wasn’t just talk. A blockchain task force was formed soon after, and the city began testing NFT-based tickets at major public events. 

While Brazil’s federal government has taken a more cautious approach, Rio continues to lean into digital innovation. Even Itaú Bank, Brazil’s largest financial institution and a major lender across Latin America, has rolled out crypto custody services for institutional clients. 

In Brazil, cryptocurrency is legal for individuals, with taxes levied only when digital assets are converted into fiat currency. The Brazilian tax authority now requires crypto trading income to be reported in annual declarations. 

The Central Bank of Brazil has also stirred interest with its efforts to launch a digital real, further boosting curiosity about private crypto assets. 

Still, local regulators often issue conflicting policies on virtual currencies.

For a closer look, check out our article Crypto Regulation in Brazil. 

How to Buy and Use Crypto in Rio

Traditional banks in Brazil still view cryptocurrencies with caution. 

However, fintech companies like Nubank and Mercado Pago are opening new doors. Both have expanded their crypto offerings and even joined forces to launch the Global Dollar Network, an open stablecoin platform designed to accelerate global adoption of stable digital assets.

Peer-to-peer (P2P) trading is also thriving. In Rio, residents often turn to P2P platforms and specialized exchangers, many of which operate through Telegram chats.

Bitcoin ATMs have not yet become widespread in Rio, but the first machines have started appearing at key retail hubs across the city. 

Three Bitcoin ATMs are now installed at major shopping centers:

1. Shopping Tijuca in the Tijuca district 
2. Via Parque Shopping in Barra da Tijuca
3. Niterói Plaza Shopping in the neighboring city of Niterói 

Each machine supports transactions in BTC, ETH, and USDT. They operate around the clock, with maintenance and support provided by Shitcoins Club.

In addition to dedicated crypto points, restaurants and shops in Rio’s southern districts, particularly in Ipanema and Leblon, are increasingly accepting digital currencies.

Exchanges like Binance, Coinbase, and Mercado Bitcoin are active in Brazil, offering users consistent access to the global crypto market.

Moreover, city officials have voiced strong support for expanding crypto payments, especially in tourism and among small businesses.

Related: Why Latin America Is Banking on Stablecoins

Rio de Janeiro’s Crypto Community

Crypto communities everywhere are known for their openness and energy, but in Rio, it feels different. More festive. Maybe it’s something in the city’s carnival DNA.

The local scene is vibrant, with NFT and DeFi startups like Tropix and SmartCash gaining traction. Events are frequent and varied, ranging from casual meetups in the bars of Lapa and hackathons in Santa Teresa co-working spaces to major international summits. 

• 2023: Rio hosted the global Blockchain Week
• 2024: Ethereum Rio became the flagship event for Brazil’s Ethereum community
• 2024: Blockchain Rio 2024 featured Let’s Moon!, a spotlight event by Moonbeam Network

An even bigger event is set for August 2025—Blockchain Rio 2025, which is expected to be the largest blockchain conference in Latin America. Industry experts and thought leaders will gather to explore a wide range of topics, from asset tokenization to the integration of blockchain with artificial intelligence.

However, Rio’s crypto community stands out for its relaxed approach to doing business. Even serious discussions often unfold in the laid-back atmosphere of cafés or bars, with the rhythms of traditional Brazilian music playing in the background.

The Cost of Life in Crypto Rio

Rio de Janeiro is a city of vibrant contrasts, where each neighborhood has its own atmosphere and its own price tag. It is not just housing costs that vary. Safety levels do too.

Crime remains a real concern. While tourist zones and affluent districts are relatively secure, street theft, muggings, and robberies are still common in areas farther from the center, particularly in some favelas.

Expats are advised to take standard precautions: avoid wearing flashy jewelry, do not walk alone at night, and keep smartphone use in public to a minimum. 

Choosing a safe neighborhood is key. Leblon, Ipanema, Flamengo, and Glória are widely regarded as some of the safest and most comfortable areas for newcomers.

Rental prices in Rio de Janeiro vary depending on the neighborhood:

• In Leblon and Ipanema, a one-bedroom apartment typically rents for between $1,000 and $1,800 a month. These are prestigious areas, known for their clean beaches, European-style cafés, and fast, reliable internet.
• In Glória, Catete, and Flamengo, you can find options ranging from $500 to $800 a month. These neighborhoods are safer than the outskirts and offer easy access to the city center.
• Budget-friendly rentals can be found in Barra da Tijuca and even farther north, in areas like Méier. But living in these districts usually requires good Portuguese skills and extra caution.

Public transportation in Rio is well-developed, and taxis are inexpensive thanks to Uber.

• Breakfast at a café will typically set you back $5 to $7, especially if you opt for local favorites like pão de queijo, crispy, cheese-filled buns, or tapioca, a light crepe made from manioc flour and filled with cheese or coconut.
• For lunch, both locals and visitors often go for feijoada, a hearty black bean stew with meat, served with rice and orange slices, or moqueca, a fragrant fish curry made with coconut milk. Either dish usually costs between $10 and $15.
• Dinner for two at a restaurant usually runs between $30 and $40, particularly if it includes picanha, Brazil’s iconic steak, paired with a bottle of wine or a few caipirinhas.

Crypto cards are accepted in a limited but steadily growing number of places, with the best chances in areas popular with tourists.

Crypto Rio Beyond the Beach: Where to Go and What to See 

After a long day of meetups, there is no better reset than swapping digital screens for real-world beauty. And Rio never disappoints:

1. The first stop for many is the iconic Sugarloaf Mountain (Pão de Açúcar), a massive granite peak rising above Guanabara Bay. A cable car ride to the top offers one of the world’s most recognizable panoramic views, and it is the perfect way to step away from the digital grind and soak in the pulse of the city.
2. Equally unmissable is Corcovado, crowned by the 30-meter statue of Christ the Redeemer. It is more than just a symbol of Rio—it is a symbol of Brazil itself. From the summit, the views stretch across the bay, the city center, and the lush green hills that cradle Rio.
3. If you are craving greenery and a little peace, the Botanical Garden (Jardim Botânico) offers a tropical retreat. Home to more than 6,000 species of plants, including towering palms, bamboo, and orchids, it is the perfect spot to escape with a laptop and work in the shade, away from the cries of seagulls and barking dogs.
4. And then there is Santa Teresa, Rio’s bohemian soul. Known for its belle époque architecture, atmospheric cafés, artist studios, and the famous Selarón Steps (Escadaria Selarón), a dazzling mosaic staircase that has become one of the city's most beloved landmarks. Here, you might meet crypto creatives sipping coffee to the sound of street musicians.

And of course, there are the beaches. Even if you are not surfing or practicing capoeira, a sunset stroll along Copacabana or a business meeting by the sands of Ipanema is a perfect way to blend work with pleasure. Nearby, you will also find cafés that accept crypto and bars where the evenings come alive with bossa nova jam sessions.

Crypto Life in Rio de Janeiro

In Rio, crypto culture is not just about startups and meetups; it is part of the city's everyday rhythm. For those who want to truly experience the spirit of crypto Rio, there are a few standout spots where Web3 has seamlessly blended into daily life.

• Casa Crypto Rio is a cozy space that combines a co-working hub with a laid-back café. You can rent a desk, order a coffee, and pay with any crypto card. Casa Crypto also doubles as a community hub, hosting Web3 workshops, startup meetups, and educational events that turn an ordinary day into a full-on networking session. The design captures Rio’s unique spirit, mixing industrial minimalism with tropical ease: concrete walls are splashed with NFT-themed graffiti, and the bar serves traditional Brazilian drinks.
• Blockchain Beach Bar sits right on the Ipanema waterfront, the perfect spot to unwind after work without losing touch with the crypto world. The bar has quickly become a favorite among tourists and local crypto enthusiasts alike. Here, you can pay for your cocktail with BTC or USDT, and if you are lucky, you might catch a themed event—anything from casual NFT discussions to street musician jam sessions. The vibe matches Rio’s spirit perfectly: easygoing, musical, friendly, and very crypto-optimistic.

In the small cafés and shops of Leblon and Ipanema (places that cater to tourists and digital nomads), you will increasingly spot “Bitcoin Accepted Here” stickers right alongside the usual Visa and Mastercard signs.

In Rio, crypto is slowly but steadily stepping out of blockchain meetups and hackathons and into everyday street life, becoming as natural a part of the city's rhythm as a lambada dance at sunset.

Who Crypto Rio Is For

Rio de Janeiro might be the right fit if:

• You are comfortable diving into a vibrant, chaotic, and noisy environment.
• You value freedom, sunshine, and the chance to practice Web3 in the real world.
• You are prepared to navigate language barriers and embrace cultural diversity.

It might not be the place for you if:

• You are looking for a technocratic order and flawless infrastructure.
• You expect full tax simplicity—reporting obligations still apply.
• You seek a safe, predictable, and quiet city—Rio is anything but.

Rio is not the polished crypto hub that Dubai has become. But it is authentic. 

If you are a purpose-driven digital nomad seeking adventure, beachside workdays, and a constantly shifting backdrop, Rio might be exactly what you are looking for. 

Here, crypto moves to the rhythm of samba.

Related: Why Stablecoins Are Changing Lives in Argentina Today