The first bitcoin exchange in Venezuela Buy Sell Sign up Sign in Easy and Fast We strive for simplicity.We work hard to make it easy for you to buy and sell and use advanced features like open source trading algorithms, even if you are completely new to trading.All of our deposits and withdrawals are processed instantly so that you can get your bitcoins in less than 1 minute.100% Transparency Our dedication to transparency includes our source code which is 100% open source so that everyone can analyze it and help us look for weaknesses in our security.Our hot and cold wallets are also public so you can do your own solvency check of our exchanges any time directly on the blockchain.Member of BLINKTRADE We are a member of the global BlinkTrade network, that includes FoxBit in Brazil, SurBitcoin in Venezuela, ChileBit.NET in Chile, UrduBit in Pakistan and VBTC in Vietnam among other companies, market makers, remittance agencies and payment processors.

Through our platform you will have access to this global network of exchanges and will be able to navigate all of them in the language of your choice Live Order BookSurBitcoin, the largest Bitcoin exchange in Venezuela, will officially resume fiat-to-Bitcoin trading by next week after solving its disputes with a major Venezuelan bank, Banesco.3, for the first time since its launch in August 2014, SurBitcoin suspended trading for all of its users as Banesco, Venezuela’s largest bank with a market share of 14.2% percent, abruptly shut down the bank account of SurBitcoin.The bank told operators of SurBitcoin that Venezuelans aren’t allowed to utilize the national currency, the Bolivar, to trade Bitcoin.For over three weeks, SurBitcoin was forced to suspend its operations and temporarily put an end to fiat-to-Bitcoin trading whilst attempting to come to a resolution with Banesco.The temporary suspension of SurBitcoin coincided with the local government’s crackdown on Venezuelan Bitcoin miners, who were arrested for utilizing the country’s resources, such as electricity, for mining Bitcoin.

A few mining centers, including a major establishment in Valencia, were shut down and dismantled by local authorities and tension arose between Bitcoin companies, users, miners and the local government.ethereum linux vs windowsAt the time, in a letter to its users, SurBitcoin reassured traders on the platform that the exchange will be able to resume services within a few weeks, as soon as the exchange updates its infrastructure with new improvements and security measures in order to be compliant with local regulations on financial institutions and money transmitting companies.ethereum android walletExactly 19 days since the announcement of the suspension, SurBitcoin announced that the exchange will be able to resume fiat-to-Bitcoin trading for all of its users by next week.bitcoin wallet generator

SurBitcoin emphasized in an official statement on its social media account that the exchange received an approval from Venezuelan bank Banesco to operate within a week.ethereum about to boomWhile the suspension of SurBItcoin and resumption of its services have been treated like normal conflicts between a bank and Bitcoin company, the approval SurBitcoin was granted by Banesco carries larger value than many people would imagine.bitcoin broker dealerOver the past few months, the Bitcoin industry and market of Venezuela were in fear of government crackdown.bitcoin hash difficultyLocal authorities, police and law enforcement agencies were recklessly and ruthlessly locking Bitcoin miners and business operators in jail without offering a reason behind their actions.bitcoin wmz

Bitcoin exchanges including SurBitcoin were also targeted by the local government as there exists no proper regulations, policies or framework established within the Venezuelan financial industry that can be applied to Bitcoin businesses.bitcoin wallet to usbThus, until today, the legality of Bitcoin exchanges and Bitcoin trading has been unclear.bitcoin virus mapThe approval of SurBitcoin granted by Banesco can be understood as an approval of Bitcoin exchanges in general.Bitcoin exchanges like SurBitcoin will be able to operate within Venezuela if they coordinate and cooperate with local banks and financial institutions and implement industry-wide Know Your Customer and Anti-Money Laundering systems.Buy bitcoins online in Venezuela Seller Payment method Show more… Sell bitcoins online in Venezuela Buyer Payment method Show more… Buy and Sell Bitcoins in these popular cities in Venezuela City Trading Amount

Bitcoin users still represent a tiny minority, but some believe that the currency will become more popular in Venezuela as economic uncertainty escalates Amid growing economic chaos, and the highest inflation rate in the world, some Venezuelans are swapping bolivars for bitcoins in order to buy basic necessities or pay their employees The digital currency is free from central bank or government controls, and users in Venezuela see it as a safe alternative in an economy where the government has enforced strict foreign exchange controls, and inflation is running at an estimated 500%.This week, Venezuelans rushed to unload 100-bolivar bills – the largest denomination – after the government announced that it would be withdrawn from circulation on Wednesday in what it described as a move against profiteering.Although Bitcoin users still represent a tiny minority, some believe that the currency will become more popular in Venezuela as economic uncertainty escalates.Unlike other online payments, the peer-to-peer currency does not require any third party to buy, sell or send.

Venezuelans only need a phone, computer or on an online wallet service to store bitcoins which they can exchange at the black-market dollar exchange rate – almost five times the official exchange rate. – a platform allowing Venezuelans to buy and sell bitcoins in exchange for bolivars – the number of users has increased from 450 in August 2014 to more than 85,000 in November 2016.“Bitcoin is mainstream neither in Venezuela nor in the world but there is a growing interest in the technology.More and more people from different industries are getting on board,” said Jorge Farias, the CEO of another exchange platform, cryptobuyer.io.Farias said that some use the currency to by food or medicine, while Venezuelans abroad use it to send funds to their families.Some use bitcoins to buy Amazon gift cards, then order goods and food on the online store in the US and other countries, which can then be delivered by courier to Venezuela – where supermarket shelves are frequently empty.Others use the currency as safe haven for their savings.

“I save in bitcoin and when I need money, I convert it into bolivars, I just changed 0.14 bitcoin and that was enough to live for quite some time,” said Lili Beth Grela, who runs Cryptobuyer’s finance department.Although bitcoin itself has been prone to volatility in the past four years, it remains relatively stable compared to the bolivar, which depreciated 60% against the US dollar on the black market in November, according to the US-based website Dolar Today, which provides a benchmark exchange rate.In mid-2014, one bitcoin was worth about 40,000 bolivars, which then amounted to $630.One bitcoin is now worth less than 2m bolivars at the time of writing, according to Surbitcoin.Farias says that many Venezuelan tech workers who freelance for companies elsewhere prefer to be paid in bitcoin.“With Cryptobuyer, we convert bitcoins into bolivars and help Venezuelans pay for daily life necessities, such as mobile phones recharges, television, water and electricity bills as well as banks transfers in bolivars,” he said.

To buy bolivars with bitcoins, people either use peer-to-peer service, like LocalBitcoins, to trade in person.They can also use an exchange brokerage, such as where they can convert their bitcoins into bolivars and vice versa.Venezuela’s political and economic turmoil has in turn triggered a health crisis with the collapse of its healthcare system, and acute shortages of drugs and medical supplies.One user, Eli, a 33-year shoe store owner, said he uses the digital currency to buy medicine for his mother’s bone cancer.He sells bitcoins to a friend in Colombia who buys cancer treatment and medical supplies when he comes to visit.“Treating my mother’s cancer would have been very difficult without using bitcoins because my business is going bankrupt and I have a lot of debts, so bitcoins enabled me to stay afloat while our currency is collapsing,” said Eli.Another bitcoin user, Arley from the Táchira state on the border with Colombia, said he buys drugs in Colombia with bitcoins, then resells them after legally importing them to Venezuela.