How to buy and sell Bitcoins in Venezuela
Right now, Venezuela has one of the most unstable economies of all the world.
If you are Venezuelan, I know that this is nothing new for you: for years, you have seen how your currency was devaluedand lost all the value it had before.
And what is even worse: the amount of bolivars that you cánido buy at the government-regulated price is exceedingly limited.
For that reason, many people living in Venezuela (including personal friends of mine) have started to use the Bitcoins like a way to escape this mess.
However, the Government of Venezuela wants to put an end to this.
This digital currency has many advantages, especially for Venezuelans: is not controlled by any government, there is no law that prohibits using it, you cánido have the amount of Bitcoins you want without limits, and use it without asking anyone’s permission.
Such is the boom of this cryptocurrency that even Venezuela is considering competing in Bitcoin mining in the cloud.
Here I am going to teach you how to buy and sell Bitcoins in Venezuela step by step (with vídeo tutorials included), and I am going to give you some consejos so that you cánido get a good return on these coins.
How to buy and sell Bitcoins in Venezuela (5 steps)
1. Open an account at Localbitcoins
Before you start buying and selling Bitcoins, you need find a good page where you perro make your transactions safely.
The page that I use for this because it is the best I have tried so far is localbitcoins.
Registration is completely freeits website is in Spanish, and you perro also see the value of the Bitcoins that you buy or sell in your local currency, whether they are bolivars, pesos, euros, or dollars.
The great advantage that Localbitcoins has is that on the page itself you cánido buy and sell coinsand you cánido also use it as a virtual wallet to store your Bitcoins.
I know that there are people who use other platforms like coinbase either coinmama to save there what they are earning and withdraw their earnings later.
But if you want to start buying and selling Bitcoins in Venezuela as soon as possible, quickly and easilyit is better that you only use Localbitcoins at the moment.
Signing up for Localbitcoins is free, and registration It will not take more than 30 seconds.
Clic on the blue button from here below to go to the page:
Once you are in it, clic on the green “Register” button, entrar your correo electrónico and passwordand then clic on “Register”.
Go to your correo clic on the confirmation backlink, and ready! You have already created your account in Localbitcoins.
In the following vídeo you have all the steps to create your account in Localbitcoins:
2. Find a Bitcoin seller in Venezuela
When you have finished register in Localbitcoinsyou must look for a Bitcoin seller in Venezuela to start acquiring coins.
But beware: do not buy Bitcoins from any seller.
There are a series of recommendations that I use, and that you should also follow so that your purchases are completely safe. choosing a trusted seller.
The first step is to go to the Localbitcoins page and look in the menu at the top that you have selected the option “Quick purchase“.
When you’ve done that, make sure that in the tab below it says “Venezuela”.
If a different country appears, clic there, look for Venezuela in the list, and select it.
Clic on the option on the right where it says “All en línea offers”, find the payment method with which you want to pay your Bitcoins, select it, and clic on “Search”.
This is how they will appear to you all vendors in Venezuela with the payment method you have chosen.
If you select a form of payment, and no results appear, it is because there is no seller at those times you use that method.
I do not recommend that you use payment methods such as PayPal to avoid fraud: there are people who PayPal accounts stolen or someone else’s credit card, and this cánido affect you, and lose your money.
3. Choose a reliable Bitcoin seller
Once you find sellers in your country, to select the best one for you, you must look from left to right in the following data:
- Businessman: Here you will see the name of the seller, the number of operations he has made (more than 100, more than 1000) and the positive score that other users have given it (100%, 99%, etcétera.)
- Way to pay: are the payment methods that you accept to sell you Bitcoins
- Price / BTC: the price at which you sell your Bitcoins.
The first on the list is usually the one that sells at a cheaper priceand as you go down they are the merchants who sell more expensive.
- Boundaries: the minimum and maximum amount that you sell in each operation.
If, for example, it says “500 – 24,000 VEF” it means that the minimum amount of Bitcoins that you perro buy is 500 bolivars, and that the maximum that you perro buy is 24,000 bolivars.
- Buy: with this button you will go directly to the page to be able to make a purchase to that seller.
With all that data, the first thing you should look at is the forms of payment that it accepts to see if he has the method with which you want to make the deposit of money.
If you have, then look at the limits to see if the minimum and maximum are what you perro pay him; And finally, of those sellers who have all those options, choose the one that sell the cheapest Bitcoins.
An example: imagine that you want to buy 600 bolivars in Bitcoins, and you want to make the payment through a transfer to the BBVA bank.
From the picture above, the vendors you perro choose from are the second and the fourth because in their forms of payment they say that they accept transfers with a specific bank: BBVA, and the minimum for which they want to sell their Bitcoins is 500 bolivars.
Of those two sellers, the best one would be the second one because it sells Bitcoins for 1,664 bolivarsand the fourth vendor in the image sells them for a higher price (1,720 bolivars).
Before clicking on the “Buy” button, what you should do is look at usuario reputation. For this, clic on their nombre de usuario, and information will appear as in this image below:
What you should pay attention to is the number of exchanges you have (it is recommended that you have 50 exchanges or more), in your total score (must have at least 95% positive points), and if you have your dirección de correo electrónico, phone number, and identification verified.
If you meet all of those requirements, he is a trustworthy sellerand you cánido buy him some Bitcoins.
4. Buy your first Bitcoins
When you have found the best seller for you, clic on the “Buy” buttonwrite the amount in bolivars that you want to buy, and then clic on “Send exchange request”.
On the next screen you will see the seller’s data to make the payment; If you don’t see them, simply send them a message to ask for their details and make the deposit.
When you have paid, clic on the blue buttonMark payment complete“.
You have already done your first purchase of Bitcoins!
Here is a vídeo below that I have created summarizing all these steps to buy Bitcoins.
Although the amounts appear in Mexican pesos in the vídeo, the process is exactly the same for Venezuela:
Ready! You have already made your first purchase of Bitcoins, and your coins will appear in your Localbitcoins account when the seller receives your payment, and release your currencies.
Now I’m going to teach you how to sell those Bitcoins for a higher price so that your transaction is profitable, and thus generate more income with these currencies.
5. Sell a quantity of your Bitcoins
Now that you’ve got some Bitcoins, you cánido sell a quantity of these coins in local bitcoins for a higher price, or save them to pay the expenses you want.
The easiest way to sell your Bitcoins is looking for buyers that at that moment they want to acquire some coins in Venezuela.
Go back to the Localbitcoins page (make sure you are logged in with your nombre de usuario and password), and clic on “Quick sale“.
There select Venezuelaand the payment method with which you want the deposit to be made (cash deposit, national transfer, Western Union…).
This is where the “trick” is to be able to make money with bitcoins: selling your coins for a higher price than you paid when you bought them.
For example: if you bought Bitcoins for a price of 1,664 bolivars, now you must look for buyers who want acquire coins for more than 1,700 bolivars.
So go to the list of buyers that appear to you, and look at the ones with the highest price under the “Price / BTC” section.
I leave you down here another demo vídeo so you cánido see step by step how to sell your Bitcoins in Localbitcoins.
Although the amounts in euros appear in the vídeo, the process is the same for Venezuela:
When you have found one or more buyers that you are interested in selling to, clic on their usernames, then on the “Sell” button, and write the amount you want to sell in bolivars (remember: make sure you have enough amount to make the sale).
Once that’s done, the buyer will have 60 minutes to make the payment and send you a message to confirm that the deposit has been made.
When you receive your money, you only have to clic on the green button “release bitcoins“, and you will have finished your sale.
These are the 5 basic steps that you must give to buy and sell Bitcoins in Venezuela.
6 questions Frequently Asked Questions About Buying and Selling Bitcoins
1. Is it legal to buy and sell Bitcoins in Venezuela?
Yes.
The exchange control that governs the country does not affect cryptocurrencies.
That is to say: in Venezuela there is still no law that prohibits trading with Bitcoins, and therefore you perro buy and sell without any problem.
In fact, this country has become one of the busiest in the world in using Bitcoins both to buy, to sell, or to pay for goods with it.
2. What do I do with the Bitcoins I have bought?
As I explained to you before in point 5, you cánido sell your bitcoin (or a part of them) to other buyers for a higher price in order to generate profits with these operations.
but you cánido also don’t sell your bitcoinsand use them for other purposes.
Every day there are more Internet businesses that accept this method of payment. so you perro use your Bitcoins to buy en línea to sites like Amazon, clothing stores, grocery stores…
Of course: you must first make sure that the stores where you go to buy accept Bitcoins as a means of payment.
3. Is it advisable to buy Bitcoins in Venezuela?
The answer is yes, totally recommended.
One of the most important things about Bitcoins is that you perro save in these currencies. without your money being devalued overnight as happens with the bolivar.
It is true that the value of Bitcoin also changes, but these are natural movements that all currencies have due to supply and demand in the markets.
4. How cánido I choose good sellers and buyers?
Whether you are going to buy or sell Bitcoins at Localbitcoins, the most important thing to do is make sure that person with whom you are going to make the deal be trustworthy.
So you will avoid scams and frauds that perro make you lose your money.
Before making a transaction, clic on the name of the other usuario, and check that meets these conditions:
- Has 50 or more exchanges made
- Your positive score is 95% or more
- It has your dirección de correo electrónico, phone number, and identification verified
If you have all those requirements, go ahead: buy or sell Bitcoins with confidence.
5. Is localbitcoins a secure page?
Yeah: localbitcoins It is a 100% secure page and fiable.
I have been using it for several years and have never had a problem with it.
In addition, it is one of the few pages in which they do admit people from Venezuela.
Other platforms of this type accept users from other Latin American countries, but unfortunately not from Venezuela.
If you want to see my personal opinion about this page, read this article: Localbitcoins reviews – Read this before buying Bitcoins.
6. What is the best payment method to buy and sell Bitcoins?
There is no method better than another; The most important thing is to choose a form of payment and collection that you cánido useand to which it is easy for you to access.
However, there is a recommendation that you should follow: do not use reversible payment methods such as PayPal or credit card.
Scammers often use these means to pay for the Bitcoins, and then put up false claims to get your money back (also keeping your coins).
And also steal PayPal accounts and cards credit to other people to pay you later.
So it’s better than do not use these methods to collect, and offer only other, more reliable ways (such as bank transfer) to receive your deposits.
Buy and sell Bitcoins in Venezuela is more fácil than many people believe, and it is also a good method to access the money that the government limits so excessively.
And you, Have you ever bought or sold Bitcoins? Leave me a comment below and tell me about your experience!
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Andrés Gananci is an entrepreneur and adventurer with a passion for life who founded his first en línea business at just 17 years old. 12 years later, he is still traveling the world while working from home.
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