Top Crypto Trading Platforms in Venezuela

Cryptocurrency trading in Venezuela is growing due to persistent economic uncertainty and hyperinflation concerns. As citizens turn to alternative assets, crypto exchanges that support direct Venezuelan Bolívar (VES) deposits are becoming increasingly popular. Below, we list the five best digital currency investment platforms currently available in Venezuela.

1. Bybit

Bybit is Venezuela’s top exchange, thanks to its diverse crypto selection, innovative features, and reliability, even in challenging market conditions. Established in 2018, it now serves more than 67 million users globally, generating a daily trading volume exceeding $13.9 billion across both order books. 

Venezuelan users particularly value the intuitive Spanish-language interface, rapid transactions, and strong commitment to user security. It provides spot markets, options trading, perpetual contracts with leverage of up to 125x, and trading tools like copy trading and AI-powered insights through TradeGPT. 

Additional products such as Bybit Earn offer flexible passive income options, while the Bybit Card provides Venezuelans with up to 10% cashback. Clients regularly participate in exclusive campaigns such as "Legends of Trade," offering prize pools of up to 1 million USDT, and special bonuses for new users.

Platform Highlights:

• Fees: Spot trading fee of 0.1%.
• Supported Assets: Over 1,800 cryptocurrencies.
• Regulation & Licensing: Globally regulated and is available in Venezuela.
• VES Deposit Methods: Bank transfers, P2P trading, credit cards, debit cards, Apple Pay and Google Pay.

2. Binance

Binance is among the most widely used crypto exchanges in Venezuela, recognized for its massive global user base and extensive suite of products. Launched in 2017, it serves over 266 million registered users worldwide, consistently generating high daily trading volumes across more than 350 crypto assets.

The platform’s trading ecosystem includes spot, margin, and futures markets. Binance is also known for its thriving P2P marketplace, offering Venezuelans a convenient method to deposit and withdraw funds in Venezuelan Bolívar. As a global exchange, the interface can be used in Spanish and 40 other languages.

Furthermore, Binance Earn allows users to generate passive income through staking, lending, and yield farming. Binance regularly introduces new features to enhance the trading experience, such as copy trading, an NFT Marketplace, and the Launchpad, which lets users invest early in promising crypto projects.

Platform Highlights:

• Fees: Spot trading fees start at 0.1%; additional discounts are available using BNB tokens.
• Supported Assets: Over 350 cryptocurrencies.
• Regulation & Licensing: Regulated across South America and is available in Venezuela.
• VES Deposit Methods: P2P marketplace and debit or credit cards.

3. Kraken

Kraken stands out in Venezuela as a trusted exchange known for exceptional transparency, advanced trading tools, and advanced security measures. It supports over 10 million clients across 190 countries, handling quarterly trading volumes exceeding $207 billion across spot and futures order books. 

Users value Kraken for its regular proof-of-reserve audits, ensuring a clear 1:1 asset backing that provides peace of mind amid economic uncertainty. It offers a wide selection of trading services, including spot markets, margin trading with up to 5x leverage, and convenient crypto conversions for rapid asset swaps. 

Kraken Institutional caters specifically to professional traders, delivering specialized tools, high liquidity, and superior API connectivity. It also provides Venezuelans with multiple pathways to earn passive income through crypto staking, offering rewards of up to 21% APY on selected assets.

Platform Highlights:

• Fees: Spot trading fees start at 0.16% for makers and 0.26% for takers.‍
• Supported Assets: Over 380 cryptocurrencies.‍
• Regulation & Licensing: Fully licensed internationally and accessible from Venezuela.
• VES Deposit Methods: Credit cards or debit cards.

4. Gate.io

Gate.io is a popular exchange among Venezuelans due to its extensive crypto listings. It supports trading for over 3,800 cryptocurrencies, making it one of the largest exchanges by asset variety. Serving 21 million clients across 180 countries, the platform can be accessed in Spanish and 20 other languages.

Venezuelan investors benefit from diverse trading opportunities, including spot, margin, and leveraged ETF markets. The platform’s robust futures trading environment offers perpetual contracts with leverage reaching up to 125x. Gate.io’s copy trading allows users to replicate successful trading strategies easily.

It also provides access to comprehensive earning products, such as crypto loans and Simple Earn, delivering competitive APRs. Additionally, Gate Web3 offers multi-chain wallet support, on-chain staking, and easy cross-chain swaps. Venezuelan users can enjoy crypto spending globally using the Gate Card.

Platform Highlights:

• Fees: Spot trading fees starting from 0.2%.
• Supported Assets: Over 3,800 cryptocurrencies.
• Regulation & Licensing: Not regulated in Venezuela but remains available to citizens.
• VES Deposit Methods: Credit cards and debit cards.

5. OKX

OKX is a sophisticated exchange ideal for institutional traders and professional investors seeking advanced tools and extensive market depth. Established in 2017, OKX serves 30 million users across more than 180 regions, offering Venezuelans access to deep liquidity, fast execution speeds, and low fees.

Venezuelan investors particularly benefit from OKX’s comprehensive trading offerings, including zero-fee quick conversions, perpetual futures and options trading with leverage. It also features a versatile Web3 wallet, enabling users to manage DeFi assets, interact with decentralized applications, and trade NFTs.

In addition, it provides innovative passive income opportunities through lending and staking. The platform is praised for its intuitive interface, multilingual support including Spanish, and its active community of experienced traders. Users can also trade directly using TradingView’s sophisticated charting tools.

Platform Highlights:

• Fees: Spot trading starts at 0.1%.
• Supported Assets: Over 350 cryptocurrencies.
• Regulation & Licensing: Globally regulated and available in Venezuela.
• VES Deposit Methods: P2P trading.

Is Crypto Regulated in Venezuela?

​Venezuela's approach to cryptocurrency regulation has evolved in recent years, reflecting the government's efforts to integrate digital assets into its economic framework. In 2018, the government introduced the "Cryptoassets Constituent Decree," establishing a legal foundation for creating, circulating, and using cryptocurrencies, including the state-backed "petro." 

Despite these regulatory measures, the cryptocurrency landscape in Venezuela has faced challenges. In March 2023, the government intervened in the National Superintendence of Cryptoassets and Related Activities (Sunacrip) due to corruption allegations, leading to the suspension of crypto exchanges and mining operations. 

This intervention highlighted the complexities and risks associated with the state's involvement in the crypto sector. ​As of January 2024, the "petro" was suspended following the Sunacrip intervention, marking a significant shift in Venezuela's cryptocurrency strategy. Nonetheless, Venezuelans continue to use cryptocurrencies like Tether (USDT). 

How is Crypto Taxed in Venezuela?

​In Venezuela, the taxation of cryptocurrency transactions is governed by the Integrated National Service of Customs and Tax Administration (SENIAT). While there isn't a specific tax rate exclusively for cryptocurrencies, various taxes are applicable depending on the nature of the transaction.​

• Income Tax: Individuals who generate income from cryptocurrency activities, such as trading or mining, are subject to income tax. Venezuelan residents are taxed on their worldwide income, with progressive rates ranging from 6% to 34%.
• Value-Added Tax (VAT): The standard VAT rate in Venezuela is 16%. An extra tax rate ranging from 5% to 25% applies to goods and services paid in foreign currency or cryptocurrencies. The National Executive determines the specific rate within this range. ​
• Tax on Large Financial Transactions (IGTF): Payments made in foreign currency or cryptocurrencies are subject to the IGTF. The tax rate for these transactions ranges from 2% to 20%. The latest available information shows that the rate is set at 3%. ​

It's important to note that tax regulations can change, and specific rates may vary based on the transaction's details and the parties involved. We recommend consulting with tax professionals to ensure compliance with current laws.

How to Buy Bitcoin in Venezuela

Venezuelan investors looking to buy Bitcoin securely should choose regulated cryptocurrency exchanges supporting Venezuelan Bolívar (VES). Follow these clear steps to purchase BTC in Venezuela:

1. Choose an Exchange: Pick a trusted cryptocurrency exchange regulated or compliant with Venezuelan guidelines, such as Bybit, Binance, or LocalBitcoins, all providing straightforward VES deposit methods.
2. Complete Registration: Create an account on your selected platform, then complete the required identity verification by submitting a government-issued ID, proof of address, and personal details to comply with local regulatory standards.
3. Deposit Venezuelan Bolívar: Fund your account by depositing VES through supported payment channels, including bank transfers, mobile payments, or peer-to-peer platforms, depending on your exchange's available methods.
4. Purchase Bitcoin: Navigate to the BTC trading section of your chosen exchange, specify the amount of Bitcoin you'd like to buy, carefully review applicable fees and current exchange rates, and finalize the purchase.

Following these steps ensures Venezuelan investors can confidently buy Bitcoin through transparent and regulated cryptocurrency exchanges.

Final Thoughts

As Venezuela navigates ongoing economic challenges, cryptocurrency trading has become more than just an alternative; it's a financial necessity, and choosing the right exchange is crucial. 

Platforms like Bybit and Binance excel for retail traders seeking ease and flexibility, while Kraken and OKX provide essential transparency and professional-grade tools for more advanced or institutional investors.