Summary
Venezuela maintains a complex relationship with cryptocurrencies, operating under the supervision of the National Superintendency of Crypto Assets (SUNACRIP). While crypto trading is legal, exchanges must register with SUNACRIP for regulatory compliance. The Venezuelan Bolívar (VES) pairs with major cryptocurrencies, with bank transfers and credit cards being primary payment methods. For Venezuelan traders seeking reliable crypto exchanges, these are the best crypto exchanges in Venezuela:
Best Crypto Exchanges in Venezuela
Venezuelan cryptocurrency traders require platforms that support local payment methods and offer reliable trading services. The country’s hyperinflation has driven significant crypto adoption, making access to trustworthy exchanges essential. Local currency support and payment integration with Venezuelan banks determine the accessibility of these platforms.
1. Binance
Users:
200m
Free Demo:
Mobile App:
Bonus:
$100
Cryptos:
400+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.05%
Pros
- Most comprehensive crypto exchange
- Most advanced features and products
- 24/7 customer support
- 400+ cryptocurrencies
- Reputable with over 200 million users
- Best liquidity
Cons
- Not beginner friendly
- Restricted in many regions due to regulations
- EU traders must use BNFCR for futures trading
Overview
Reaching over 200 million registered users in 2024, Binance is by far the largest crypto exchange in the world. The platform is incredibly comprehensive, offering crypto traders all the tools they need to make a profit in the crypto market.
With over 400 cryptocurrencies to trade, leverage of up to 125x, directly integrated charts from TradingView with tons of technical analysis tools, and many more features, Binance has secured its spot as one of the best crypto exchanges.
Binance offers a wide variety of products, including spot, margin, futures, and options trading, staking, lending, P2P, automated bot trading, copy trading, and even an NFT marketplace. It is safe to say that crypto geeks will find everything they are looking for on Binance.
The trading fees on Binance are very affordable. Binance charges 0.1% trading fees on the spot market (makers and takers alike), which is the industry standard. Where Binance excels is the futures market with fees of only 0.02% for makers and 0.05% for takers.
2. Bybit
Users:
40m
Free Demo:
Mobile App:
Bonus
$30,000
Cryptos:
600+
Leverage:
100x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.055%
Pros
- Low fees
- 600+ supported crypto assets
- 100x leverage and deep liquidity
- Advanced order types and additional features
- Great 24/7 customer support
- Automated copy trading
Cons
- Regulatory uncertainty in Europe and USA
- May be confusing for beginners
- Cryptocurrency investments carry high risks
Overview
Bybit stands out as one of the most advanced crypto exchanges with deep liquidity and low fees. Bybit users can trade Spot, Futures, Options, NFTs, and even Inscriptions. Additionally, Bybit offers copy trading and bot trading to automate your income streams. Bybit copy trading is one of the best in the crypto industry.
Where Bybit excels is its derivatives platform with 320+ perpetual futures contracts and up to 100x leverage. With advanced order types such as TWAP or Iceberg orders, Bybit caters to experienced traders seeking the best options.
On the spot market, Bybit supports over 500 cryptos and up to 10x margin, making Bybit a versatile crypto exchange.
With low fees of 0.1% maker and 0.1% taker for spot trading and 0.02% maker and 0.055% taker for futures trading, Bybit has highly competitive fees. To top it all off, Bybit offers fee discounts based on your 30-day trading volume. The more you trade, the more you save.
3. MEXC
Users:
15m
Free Demo:
Mobile App:
Bonus
$20,000
Cryptos:
2400+
Leverage:
200x
Spot Fees:
0.02%
Futures Fees:
0%/0.02%
Pros
- Lowest Trading Fees
- 2000+ supported crypto assets
- 200x leverage and deep liquidity
- 24/7 customer support
- Best for altcoin and leverage trading
Cons
- Not available in the US
- Newly launched coins pose high risk
- May request KYC in the future
Overview
MEXC is known as the crypto exchange with the lowest fees. What makes MEXC stand out is its 0% maker fee offer, meaning you can trade without any fees. However, the spot and futures taker fees start at 0.02%. No crypto exchange can compete with the MEXC fee structure.
If you are a day trader seeking high leverage, MEXC may be one of your best options. With 200x leverage over 400 futures contracts and by far the lowest fees, MEXC is truly a day trading heaven.
Even if you are not interested in leverage trading, MEXC has you covered with over 2000 supported cryptocurrencies on the spot market. While MEXC offers tons of new altcoins, we recommend being cautious as the legitimacy of newly listed projects may be questionable.
All in all, MEXC is arguably the best option for high-frequency traders seeking low fees to get the best value for money.
4. Coinbase
Users:
100m
Free Demo:
Mobile App:
Bonus:
$10
Cryptos:
250+
Leverage:
5x
Spot Fees:
0.4%/0.6%
Futures Fees:
0.02%/0.05%
Pros
- Most beginner-friendly exchange
- Fully regulated and licensed
- Great customer support
- Reputable with over 100 million users
- Comprehensive fiat deposit methods
- Great wallet for on-chain access
Cons
- Lacks advanced features
- Very high spot trading fees
- Poor liquidity
Coinbase Overview
Coinbase is one of the largest and most well-known cryptocurrency exchanges for buying cryptos.The platform currently has a user community of over 100 million users worldwide. What makes Coinbase special is its user-friendly interface. The platform is designed to be easy to use, making it accessible for beginners. Coinbase offers a clean and intuitive interface for buying, selling, and managing cryptocurrencies.
Crypto traders have access to over 250 cryptos for active trading. One downside of Coinbase is the fee structure. When you place an order at the market price that gets filled immediately, you are considered a taker and will pay a fee of 0.60%, which is very expensive.
Another thing about Coinbase is that it offers a wide range of crypto services. These include wallets, NFT, crypto staking, Coinbase cards, and many more to help improve the overall trading experience on the platform. One of our favorite features is the Coinbase wallet.
It is suitable for beginners but also offers advanced trading tools including real-time charts, technical indicators, and many more for advanced traders.
5. Tapbit
Users:
500K
Free Demo:
Mobile App:
Bonus:
Upto $320
Cryptos:
352+
Leverage:
150X
Spot Fees:
0.10%/0.10%
Futures Fees:
0.02%/0.06%
Pros
- Wide range of supported cryptocurrencies
- Beginner-friendly platform
- Provides advanced trading tools
- Leverage up to 200x on derivatives and perpetuals
- Accept stablecoins with no hidden fees
Cons
- Fewer coins than global exchanges
- Tied to Nigerian currency fluctuations
- No advanced options like margin trading
Tapbit Overview
Tapbit is a cryptocurrency exchange that serves both spot and futures traders, supporting over 349 digital assets. The platform offers futures trading with leverage up to 100x, making it suitable for traders seeking significant position sizes.
The fee structure on Tapbit is competitive, with spot trading fees at 0.1% for both makers and takers. Futures trading comes with even lower costs at 0.02% maker and 0.06% taker fees. New users can access a $320 welcome bonus when joining the platform.
Tapbit’s features include a mobile application for trading on the go and advanced trading tools for technical analysis. The platform also integrates forex trading capabilities, expanding beyond traditional cryptocurrency markets. The absence of KYC requirements allows for quick account setup and maintains user privacy.
Key limitations include the platform’s relatively recent entry into the market and the lack of staking options. While the exchange serves 500,000+ users, it doesn’t offer passive income opportunities, which may affect long-term holders seeking yield on their assets.
The platform provides 24/7 customer support through live chat and email channels. However, Tapbit does not offer a demo account for users to practice trading strategies without risking real funds.
Is Crypto Legal and Regulated in Venezuela?
Cryptocurrency operations in Venezuela are legal and regulated under the supervision of SUNACRIP (National Superintendency of Crypto Assets). The government established this regulatory framework through Decree No. 3196 in 2020.
SUNACRIP maintains strict oversight of cryptocurrency operations, requiring exchanges to obtain licenses and implement comprehensive KYC procedures. The regulatory body sets specific requirements for crypto service providers, including mandatory registration, compliance with anti-money laundering (AML) protocols, and regular reporting of transaction data.
Venezuela has also implemented the “Ley Constitucional de Inversión Extranjera Productiva” which includes provisions for cryptocurrency investments. This law establishes guidelines for foreign investment in the cryptocurrency sector and outlines protection mechanisms for investors.
Is Crypto Taxable in Venezuela?
Cryptocurrency taxation in Venezuela follows specific guidelines established by SENIAT (National Integrated Service of Customs and Tax Administration). Crypto assets are subject to Value Added Tax (VAT) at a rate of 16% on transactions.
Mining operations require registration with SUNACRIP and incur specific tax obligations. Income derived from cryptocurrency trading is subject to income tax rates ranging from 6% to 34%, depending on the annual income bracket.
Capital gains from cryptocurrency investments follow the standard capital gains tax structure, with rates varying based on the holding period and transaction value.
Disclaimer:
Tax laws are subject to change, and individual circumstances may vary. It is strongly advised to consult with a qualified tax professional or financial advisor for personalized guidance on cryptocurrency taxation in Venezuela.
How to Buy Crypto in Venezuela
Venezuelan residents can access cryptocurrency markets through various regulated platforms. Binance offers the most comprehensive service for Venezuelan traders, supporting local payment methods and providing a secure trading environment.
1. Select a Crypto Exchange
Verify the platform supports Venezuelan Bolívar (VES) and local payment methods. Ensure the exchange complies with SUNACRIP regulations and offers suitable KYC requirements.
2. Complete Registration
Submit required documentation for identity verification. Venezuelan users typically need to provide a national ID card (Cédula) and proof of residence.
3. Fund Your Account
Deposit funds using bank transfers through participating Venezuelan banks, credit cards, or P2P trading options. Local payment processors like Reserve or AirTM provide additional funding alternatives.
4. Choose Cryptocurrency
Select from major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), or stablecoins such as USDT. Consider trading pairs with VES for direct local currency conversion.
5. Execute Trades
Place market or limit orders based on your trading strategy. Monitor exchange rates between VES and your chosen cryptocurrency.
6. Secure Storage
Transfer purchased cryptocurrencies to a secure wallet for long-term storage. Consider both hot and cold wallet options based on your needs.
Best Crypto Wallets in Venezuela
Venezuelan cryptocurrency users require secure storage solutions that provide both accessibility and protection. Here are the recommended wallet options:
Ledger hardware wallets offer maximum security for long-term storage, supporting multiple cryptocurrencies and providing offline protection against cyber threats.
Trezor devices present another reliable hardware solution, featuring user-friendly interfaces and extensive cryptocurrency support.
For mobile access, Trust Wallet provides a convenient solution with VES price tracking and direct exchange integration. MetaMask serves as an essential tool for accessing DeFi platforms and managing ERC-20 tokens.
Desktop users benefit from Exodus, which combines extensive cryptocurrency support with built-in exchange features and regular security updates.
Bottom Line
For Venezuelan traders seeking the best crypto exchanges in Venezuela, Binance stands out as the primary choice, offering comprehensive VES support and reliable trading services. Bybit provides an excellent alternative with competitive fees and advanced trading features. Both platforms maintain strong regulatory compliance and support local payment methods, ensuring accessible cryptocurrency trading for Venezuelan users.
