A detailed review outlining the best crypto exchanges in Venezuela. Learn about the leading platforms and compare their fees, features, security, customer support options, and more.
Summary of 5 Best Crypto Exchanges in Venezuela
In Venezuela, experts advise opting for exchanges regulated by the Venezuelan government and financial authorities for purchasing and trading Bitcoin and other cryptocurrencies. By utilizing bank transfers, credit cards, or other payment methods to deposit Venezuelan Bolivars (VES), individuals can legally buy, stake, and trade digital assets.
For beginners starting their crypto journeys in Venezuela, we’ve assessed the top 5 trading platforms prevalent in the region:
- Bybit – Best Overall Crypto Exchange in Venezuela
- Binance – Largest Cryptocurrency Exchange Worldwide
- Gate.io – Wide Selection of Altcoins
- OKX – Best for Beginners
- LocalBitcoins – Most Popular P2P Platform
Bybit Overview
Rated as the top crypto exchange in Venezuela, Bybit is known for its user-friendly interface, low fees, and high liquidity. Here are some key features of Bybit:
- Available Markets: Spot, futures, options, and perpetual contracts trading on over 150 cryptocurrencies. Up to 100x leverage.
- Fees: Maker fee of 0.075% and taker fee of 0.075%. No deposit or withdrawal fees.
- Supported Cryptocurrencies: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, and over 150 altcoins.
- Regulation and Licensing: Complies with regulatory requirements in the British Virgin Islands.
- Customer Support: 24/7 multilingual support via email, live chat, and Discord.
- VES Deposit Methods: Bank transfer, credit/debit cards, P2P trading.
We recommend Bybit for its low-cost trading, high liquidity, and focus on regulatory compliance.
Binance Overview
As the largest crypto exchange worldwide, Binance offers an extensive ecosystem for trading, earning interest, borrowing, staking, and more.
- Available Markets: Spot, futures, margin trading, P2P fiat-to-crypto trading, and staking services on over 600 cryptocurrencies. Up to 125x leverage on derivatives.
- Fees: Spot trading fees as low as 0.1% with 25% discount available. Margin interest rates from 2.5% to 6.5%.
- Supported Cryptocurrencies: BTC, ETH, BNB plus over 600 altcoins.
- Regulation and Licensing: Licensed and regulated in multiple jurisdictions worldwide. Not directly regulated in Venezuela.
- Customer Support: 24/7 multilingual support through live chat, email, Kakao Talk, Telegram, Twitter, Discord.
- VES Deposit Methods: Bank transfer, P2P trading, third-party payments.
With its massive liquidity and range of crypto services, Binance is a leading choice in Venezuela.
Gate.io Overview
Gate.io stands out for having one of the largest selections of altcoins, making it popular for trading emerging tokens.
- Available Markets: Spot, margin trading, futures, and options on over 1,400 cryptocurrencies. Up to 20x leverage.
- Fees: Taker fee of 0.2% and maker rebate of 0.08%. No deposit fees, withdrawal fees vary by coin.
- Supported Cryptocurrencies: 10+ major cryptos plus over 1,400 altcoins. New projects listed frequently.
- Regulation and Licensing: Not directly regulated in Venezuela. Operates globally from Singapore.
- Customer Support: 24/7 support through email and live chat.
- VES Deposit Methods: Bank transfer, credit/debit card.
If you want exposure to new and exotic altcoins, Gate.io is worth exploring.
OKX Overview
OKX is a great starting point for Venezuelan beginners with its easy-to-use interface and educational resources.
- Available Markets: Spot, margin trading, futures, options, swap trading on 300+ coins. Up to 100x leverage.
- Fees: Maker/taker fees from 0.02% to 0.06%. No deposit fees, withdrawal fees vary.
- Supported Cryptocurrencies: BTC, ETH, stablecoins, altcoins, DeFi tokens, NFTs, and more.
- Regulation and Licensing: Complies with regulations in Malta. Not directly regulated in Venezuela.
- Customer Support: 24/7 multilingual support through email, live chat, Discord, Reddit, Twitter.
- VES Deposit Methods: Bank transfer, credit/debit card, P2P trading.
OKX offers a smooth onboarding process for crypto newcomers in Venezuela.
LocalBitcoins Overview
LocalBitcoins facilitates direct P2P crypto trading allowing buyers and sellers to connect. This makes it popular in Venezuela.
- Available Markets: Trading of BTC, ETH, USDT, and other major cryptocurrencies between users.
- Fees: 1% fee charged to sellers, no fees for buyers.
- Supported Cryptocurrencies: BTC, ETH, USDT, BCH, LTC, XRP, TRX, ADA.
- Regulation and Licensing: Not regulated in Venezuela. Operates as a P2P platform.
- Customer Support: Email-based support, online forums and FAQ.
- VES Deposit Methods: Bank transfer, cash, gift cards, PayPal, and other P2P methods.
For a decentralized P2P trading experience, LocalBitcoins is a key option in Venezuela.
How to Buy Crypto with VES in Venezuela
Follow these steps to safely buy cryptocurrency in Venezuela:
- Select a legal, regulated exchange like Bybit, Binance, or Gate.io.
- Create an account and complete KYC verification.
- Fund your account via bank transfer, credit/debit card, or P2P transfer.
- Buy your desired cryptocurrency on the exchange platform.
- Withdraw to an external wallet for better security.
Is Cryptocurrency Legal in Venezuela?
Yes, cryptocurrency trading is legal in Venezuela. The government has warned about potential risks but has not outright banned crypto investing and trading. Exchanges that comply with KYC/AML procedures can operate in the country.
How is Cryptocurrency Taxed in Venezuela?
Cryptocurrency profits are subject to capital gains taxation in Venezuela. Gains from trading cryptocurrencies must be declared to SENIAT and taxed at variable rates up to 34%.
Conclusion
Bybit, Binance, Gate.io, OKX, and LocalBitcoins stand out as the top platforms for cryptocurrency investors in Venezuela. Check that the exchange complies with local regulations before trading. Store coins in a private wallet and report crypto profits for tax purposes. Adhering to compliance procedures is key for legally participating in Venezuela’s flourishing cryptocurrency market using VES.
FAQ
What exchanges can I buy Bitcoin in Venezuela?
The top exchanges to buy Bitcoin and other cryptocurrencies in Venezuela include Bybit, Binance, Gate.io, OKX, and LocalBitcoins. These platforms accept VES deposits and comply with regulations.
Can Venezuela use Binance?
Yes, Venezuelans can use Binance to trade cryptocurrencies. Binance accepts VES deposits and offers P2P trading for Venezuelans. While not directly regulated in Venezuela, Binance complies with KYC and global regulations.
What cryptocurrency does Venezuela use?
The Venezuelan government created the Petro cryptocurrency, though it has not seen widespread adoption. Most Venezuelans buy and trade major cryptocurrencies like Bitcoin, Ethereum, stablecoins, and altcoins.
How to sell Bitcoin in Venezuela?
You can sell Bitcoin for VES in Venezuela using regulated exchanges like Bybit and Binance. LocalBitcoins also allows Venezuelans to post Bitcoin sell ads and connect with buyers to arrange P2P sales.