With the constant evolution of the ecosystem and the escalating crisis, there are more and more options available to buy cryptocurrencies with bolivars. A few days ago, the suspension of operations of the P2P Paxful platform in that country was of concern to many.
A recent report by the firm Chainalysis ranked Venezuela as the country with the highest adoption of cryptocurrencies, only surpassed by Ukraine and Russia. One way to corroborate this is by reviewing the large number of options that Venezuelans have for buying and selling cryptocurrencies. It is no secret to anyone that carries cryptocurrencies in Venezuela got a large-scale adoption.
P2P exchanges
The most popular option to buy cryptocurrencies in Venezuela is p2p exchanges. Within the options of this category, there are several exchanges, with a lot of demand on their sides. The first one to mention is undoubtedly LocalBitcoins.
LocalBitcoins is the most used platform in Venezuela to buy and sell bitcoins. It is a p2p exchange where users make purchase and sale operations with the execution of a smart contract that is released once the parties agree and settle the payment.
All p2p exchanges work similarly as it is always a transaction between two equal parties (buyer and seller), LocalBitcoins is not the only one. Another strong option is LocalCryptos, former LocalEthereum, which works similarly with the difference that Litecoin and Ethereum can be bought and sold in addition to Bitcoin on this platform.
The third option among the p2p is Binance. With p2p.Binance Venezuelans can buy and sell Bitcoin, Tether, Ether, Binance Coin, and Binance USD. This is one of the most used, and its large volume of offers makes it possible to access liquidity at practically any time of the day.
Hodlhodl is also another P2P option for Venezuelans who love the foremost cryptocurrency. This exchange, not so popular compared to the others, has the peculiarity that it does not hold funds but rather blocks them in a multi-signature escrow deposit and also does not request any type of documentation related to KYC policies. Like LocalBitcoins, it only works with BTC.
Finally, there is Cryptoway, another p2p exchange through which you can buy or Bitcoin, Ether, Litecoin, Bitcoin Cash, Dash, Zcash, and even Dogecoin using bolivars and without major inconveniences.
Users must register following the KYC procedures of each platform and look for the offer that best suits their needs to buy or sell cryptocurrencies on these exchanges. Also, users have to consider the rate, the amount of the crypto to buy or sell, and/or the bank through which the payment will be made.
Once this is done, when the exchange is already opened, the smart contract is generated, so that holds the cryptocurrencies in an escrow until the buyer indicates with a click notifying that the payment was completed and the seller verifies the funds are already in their bank account. Afterward, the seller releases the contract, and the coins are transferred directly to the buyer’s wallet.
The AirTM
AirTM is a digital exchange through which you can buy cryptocurrencies, dollars, euros, and even gift cards from Amazon, also, you can buy and sell balance from payment processors such as Neteller, Paypal, Payoneer, etc.
A wide variety of cryptocurrencies can be purchased at AirTM including Bitcoin, Bitcoin Cash, Litecoin, XRP, Litecoin, Zcash, Ethereum, Ethereum Classic, Dai, Monero, Tether, and Dogecoin, unlike the previous two, on this platform you do not interact directly with the seller, nor do you make payment directly to him. To purchase any currency, a balance must be debited from the AirTM account.
By: Jenson Nuñez.
