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Bitcoin in Venezuela

Venezuela’s hyperinflation crisis with the Bolivar has been one of the few economies even the largest bitcoin doubters will agree, crypto currency is better than some countries centralized currencies.

With the Bolivarian Intelligence Service (SEBIN) raiding, arresting and extorting bitcoin miners, after requiring them to register with the government as bitcoin miners, the black market for bitcoin buying and selling is one of the largest in the world.

The financial situation is so bad, altcoins like Monero, LiteCoin, even Ripple, appear to be stable currencies for transacting when the Bolivar and Petro (PTR) altcoin scam have been the governments way to “solve” the problems in Venezuela.

Buying Bitcoin and Altcoins in Venezuela

The largest exchange in Venezuela has been SurBitcoin, allowing transactions for bitcoin through banks such as BBVA Provincial, Bancaribe, Banco de Venezuela, Mercantil Banc, until Banesco closed SurBitcoin’s bank account in 2017. The situation was “resolved” and Venezuelans can buy bitcoin at SurBitcoin currently, however most people don’t trust a bitcoin exchange the Venezuelan government “approves” of selling bitcoin.

The most common buying and selling for beginners in Venezuela is LocalBitcoins, offering person to person sales of bitcoin for Bolivar. Offers to sell bitcoin for bank wires from Mercantil Banc, BBVA Provincial, Banco de Venezuela or Bancaribe are throughout the Venezuela sales on the site.

The other, possibly most common, method of buying bitcoin in Venezuela appears to be on the street, through the local bitcoin community that exists in the country. The bitcoin Facebook group, recommended by btcven, has been one of the most active for bitcoin meetups worldwide.

The ability to transfer Bitcoin to USD bank accounts has made uphold extremely popular in the country.  Our list of anonymous exchanges, while the government is shooting protestors in the country, is likely to be the most useful for Venezuelans.

Top exchanges for bitcoin buying anonymously in Venezuela:

Bisq

Anonymous Peer to Peer Crypto Trading

Bisq

Available Worldwide

No ID Required

Paxful

Peer to Peer Bitcoin Buying and Selling

Paxful

Available Worldwide

Buy Bitcoin With Any Gift Card

Localbitcoins

Peer to Peer Bitcoin Buying and Selling

Localbitcoins

Available Worldwide

Cash, Bank Transfers and Wires

Other Bitcoin Options in Venezuela

The cryptocoins meetup in Caracas has a few group chats regarding exchanges and crypto changes in the country. All of the anonymous bitcoin exchanges and bitcoin credit card options have the countries that are accepted listed.

Gambling in Venezuela

Normally on our country gambling guides, there would be information on Jogo do Bicho online, or other gambling games Venezuelans play. The bitcoin lotteries at least allow people to win bitcoin instead of bolivars.

The increased gambling on Jogo do Bicho in the country, as noted in our Venezuela online gambling guide, makes bitcoin faucets (for free bitcoin), sound like a more valuable way people could spend there time during hyperinflation than los animalitos.

Crypto Gambling has information on bitcoin, altcoins and trading crypto currencies along with bitcoin poker, casino and sports betting sites available worldwide.