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Get to Know These Exchange Platforms to Buy Cryptocurrencies in Venezuela – Part II

In a previous article, we presented four exchange platforms used to buy cryptocurrencies such as bitcoin in Venezuela in exchange for the local currency, the bolivar. Then we will see other platforms: LocalCoinSwap, Hodl Hodl, AirTM and Cryptobuyer, in addition, you will be able to learn a little more about Uphold, which allows you to receive remittances and protect crypto assets from market volatility.

LocalCoinSwap

This peer-to-peer trading platform works similarly to LocalBitcoins. The main difference is that does not require the user to comply with the KYC process to use it. LocalCoinSwap has been on the market since the beginning of this year and allows the exchange of bolivars for around 23 different cryptocurrencies, such as BTC, ETH, XMR, DASH and USDT. Its creators promise to return the profits made to the users of the platform, and it includes a referral program to attract more users. However, due to the relative newness of the market, offers to buy cryptocurrencies in exchange for bolivars are limited.

LocalCoinSwap does not require identity verification from its users. Source: LocalCoinSwap.

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Hodl Hodl is a peer-to-peer exchange platform that differs from those reviewed so far for buying cryptocurrencies such as bitcoin in Venezuela. Users do not exchange directly with the platform, but each of them gives the address of their wallet which is located outside of it. To ensure transaction security, Hodl Hodl generates a unique multi-signature collateral contract (P2SH) for each transaction.

In this way, the seller transfers cryptocurrencies to the escrow address directly from his wallet. After the buyer pays the seller according to the agreed payment method, the seller releases the deposit directly to the buyer’s wallet. In addition, the platform gives users the option to use or not KYC and AML verification processes when creating exchange listings: since it does not store any type of funds, the platform is not subject to this regulation. Additionally, it allows sellers to add proof that you own the assets you wish to trade.

Hodl Hodl does not require user identity verification to operate. Source: Hodl Hodl.

Hodl Hodl offers users the opportunity to participate in the prediction market, provides an OTC trading desk for those users who trade in large volumes and has a referral program, in which the referrer earns a percentage of the trading fee. Hodl Hodl exchange (amount up to 0.6%) paid by your referral. This week the platform released its source code, so those interested can create their own platforms from it.

AirTM

In the case of AirTM, users do not interact with each other, but buy cryptocurrencies (as well as currencies) through the platform. To access this website from Venezuela, it is recommended to activate a VPN that changes the user’s IP. Some browsers, such as Opera or Brave, have a built-in VPN.

To buy cryptocurrencies such as bitcoin in Venezuela through this platform, you first need to acquire a balance in AirTM dollars. To do this, the user must pay a deposit in bolivars and wait until the platform finds a free buyer. Regardless of the size of the deposit, the platform will charge a flat fee of $0.30 it is calculated according to the daily rate.

To use AirTM, users must deposit bolivars into the platform. Source: AirTM.

After the exchange is confirmed, you will have a positive balance in your AirTM account and with it you will be able to buy BTC, bitcoin cash (BCH), litecoin (LTC), zcash (ZEC), ETH, monero (XMR), tether (USDT), dogecoin (DOGE), dash (DASH), ripple (XRP), ethereum classic (ETC). This balance is exchanged within the platform and deposited into your hot wallet.

Cryptobuyer

Cryptobuyer It works very similarly to AirTM, as users deposit their balances on the platform and trade with it to acquire cryptocurrencies such as Bitcoin in Venezuela. however, The deposit in bolivars should not be changed into dollars. After accreditation, user can buy BTC, LTC and DASH. Like Hodl Hodl, Cryptobuyer does not store users’ cryptocurrencies, instead funds are transferred directly to their wallets.

It also allows Venezuelans to charge their mobile phones. Of the three operators operating in the country, Cryptobuyer users can pay for the Digitel service.

Cryptobuyer also allows you to top up your mobile service. Source: Cryptobuyer.

To access the platform, the user can log in via Facebook, Twitter or Google or with their email and password. When registering, it is necessary to provide information for identity confirmation. To do this, you must submit a national ID card or passport, proof of residence and a photo of the user with the ID card.

Uphold

Uphold is used to exchange cryptocurrencies and fiat currencies. It can be used to exchange US Dollars (USD), Euros (EUR), Argentine Pesos (ARS), Brazilian Reals (BRL), among other fiat currencies in exchange for a dozen cryptocurrencies, making it useful when receiving remittances in Venezuela.

Some of the cryptocurrencies supported by Uphold. Source: Uphold.

Las criptomonedas disponibles en Support sin bitcoin (BTC), litecoin (LTC), ether (ETH), basic attention token (BAT), bitcoin cash (BCH), dash (DASH), bitcoin gold (BTG), ripple (XRP), LBA, Universal Bitcoin (UPBTC), Universal Dollar (UPUSD) and Universal Euro (UPEUR).

This platform works like a bank in the cloud, therefore, users who are afraid of the volatility of cryptocurrencies (that is, the fluctuation of their prices) They can freeze dollar funds so they don’t shrink if the market crashes (but will not increase if there is an increase). To do this, Uphold calculates the dollar equivalent of the cryptocurrency at the time of their freeze.

Platforms regulated by the government

There are other exchange platforms in Venezuela where you can buy bitcoin and other cryptocurrencies in exchange for bolivars. These are Cryptia, Amberescoin, Bancar, AFX, CryptoLago (which also provides mining rigs) and CryptoEX.

Through these platforms it is possible to buy BTC, ETH, ripple (XRP), DASH, LTC or petro (PTR). The latter is a cryptocurrency promoted by the Venezuelan government.

These platforms comply with the regulations of the Venezuelan government, as they are authorized by the National Authority for Crypto Assets (Sunacrip).

Go to previous article: Learn about these exchanges to buy cryptocurrency in Venezuela – Part 1.

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