In 30 seconds
- Web3 is the part of the internet where you control your assets and identity with a wallet, instead of an account run by a company.
- To get in from Chile you need a platform that exchanges pesos for crypto: check with the CMF that it is registered and authorized.
- Never share your recovery phrase with anyone. Whoever has it has your funds.
- Gains must be declared to the SII. Keep records from day one.
What Web3 is, simply
On the web you know, your photos, money and identity live in company accounts: if the company shuts down or blocks you, you lose access. In Web3 those assets are recorded on a blockchain — a public database no single party controls — and managed with a wallet that belongs to you.
The promise is control. The cost is responsibility: there is no “forgot my password” button. That is why this guide starts with safety, not with what to buy.
The three pieces you will use
| Piece | What it is for | Who holds the keys | The main risk |
|---|---|---|---|
| Exchange platform | Swapping Chilean pesos for crypto, and back. | The platform | It shuts down, freezes withdrawals or is not authorized. |
| Your own wallet (self-custody) | Holding and using your assets: paying, signing, connecting to apps. | You | Losing the recovery phrase or signing something malicious. |
| Readable name (ENS) | Receiving payments and being identified by a name instead of 0x4c2a…9f1b. | You: it is an asset in your wallet | Letting it expire: it renews every year. |
The safe order to start
- Learn to spot a scam before you move a peso. Guaranteed returns, “advisors” who message you on WhatsApp and fees to withdraw are the most common signs. See the patterns.
- Choose the platform by checking the CMF, not the ads. Look it up in the Registry of Financial Service Providers and confirm it is authorized for the service it provides. How to check.
- Create a wallet and store the recovery phrase offline. On paper or metal; never in a photo, an email or the cloud. No legitimate party will ever ask for it.
- Make a first test with a small amount. Send, receive and check the transaction on a block explorer before moving larger amounts.
- Give your wallet a name. An ENS name lets you receive payments at yourname.eth and avoids errors when copying addresses. Read the ENS guide.
- Keep tax records from day one. Date, amount and peso value of every purchase and sale. What the SII requires.
Prefer the short version? We post explainers and alerts on X (@enschile) and Telegram (@enschile).
What no legitimate party will ask you for
- Your recovery phrase (12 or 24 words) or your private key.
- To install remote access software so they can “help”.
- To sign a message to “verify” your wallet or “release” a prize. A single signature can allow someone else to move your assets.
- An upfront payment to withdraw gains, release funds or appraise an asset.
Web3 is more than buying crypto
Buying is just the door. With the same wallet you can:
- have an identity you carry from app to app (ENS);
- take part in communities that decide and vote on-chain (DAO);
- own land, items or spaces in virtual worlds such as Decentraland;
- build: deploy a smart contract and give it a readable name.
If you want to see who is building in Chile, start with the communities directory and the events calendar.
FAQ
How much do I need to start?
There is no universal minimum: each platform sets its own. The sensible approach is to start with an amount you can afford to lose while you learn, and to factor in platform fees and network fees (gas).
Which wallet should I use?
There are browser, mobile and hardware wallets. For meaningful amounts, a hardware wallet reduces malware risk. Download it only from the manufacturer's official site, typing the address yourself: search ads sometimes lead to fake copies.
Is holding crypto on an exchange the same as in my wallet?
No. On an exchange, the platform holds the keys and you have a balance with it: if it shuts down or freezes withdrawals, you depend on its process. In your own wallet, the keys are yours, and so is the responsibility.
Sources
- CMF · Registry of Financial Service Providers (accessed Sep 10, 2026)
- CMF · Alerts on unauthorized entities (accessed Sep 10, 2026)
- SII · Cryptocurrency FAQ (in Spanish) (updated Oct 24, 2025)
- ENS · FAQ (prices and expiry) (accessed Sep 10, 2026)
Follow us
This moves fast. Follow it on social.
We review this guide regularly, but news breaks first on social: CMF and SII changes, events, scams going around and short ENS tutorials.
Enschile · enschile.eth
ethereumchile.eth
No one from Enschile will ever DM you asking for signatures, payments or seed phrases. If that happens, it is a scam.