The landscape of cryptocurrency exchanges in Venezuela is dynamic and has experienced recent changes.

Closure and Redirection of Platforms:

* El Dorado P2P: In early June 2025, the El Dorado P2P platform ceased its operations in Venezuela. Although no specific reason was given, they denied links to the parallel dollar.

* Localbitcoins: It is important to remember that Localbitcoins, which was one of the most used P2P platforms in Venezuela, had already closed its operations worldwide in 2023. Many Venezuelan users migrated to other P2P platforms.

Exchanges with Presence in Venezuela:

Despite the closures, several international exchanges and some local platforms continue to operate in Venezuela, offering services for buying and selling cryptocurrencies. The most notable are:

* Binance: It remains one of the largest and most popular exchanges in Venezuela, especially through its P2P market, which allows buying and selling cryptocurrencies (such as Bitcoin, USDT, ETH, etc.) with bolivars through local banks.

* OKX: Another internationally renowned platform that offers services in Venezuela, including its P2P mode.

* Bitfinex: Has expanded its presence in Latin America and in June 2023 introduced its P2P platform in Venezuela.

* Other international exchanges: Bitget, BingX, and Bybit also have a presence in the country.

* Local centralized platforms: Although some have closed, options like CryptoBuyer Venezuela and Skipshift still exist.

Regulation of Crypto Assets in Venezuela:

Venezuela has implemented a legal framework for crypto assets. Some key points are:

* Constituent Decree on Crypto Assets: This 2018 decree constitutes the general legal framework that allows for the creation, circulation, use, and exchange of crypto assets in the country. It empowers the National Executive to regulate and allow the operation of exchange houses.

* SUPCAVEN: The Superintendency of Crypto Assets and Related Activities of Venezuela (SUPCAVEN) was created in 2017 to oversee and regulate the sector.

* Anti-Blocking Law: Some economists have pointed out that the Anti-Blocking Law could provide a way for Venezuela to use cryptocurrencies as a mechanism to evade international sanctions.

Trading Volume and Adoption:

* Growth: According to data from Chainalysis, the cryptocurrency market in Venezuela experienced significant growth, with a 110% increase in the second quarter of 2024 compared to the same period the previous year, reaching an estimated volume of $20 billion.

* Motivations: The adoption of cryptocurrencies in Venezuela has largely been driven by economic instability, inflation, and restrictions on access to foreign currencies.

* Education: Education in crypto assets is also gaining ground, with initiatives such as the Blockchain, Trading, and Crypto Assets Academy of the Andrés Bello Catholic University (UCAB).

Important Considerations:

* Risks: It is essential for users to be aware of the risks associated with investing in cryptocurrencies, as well as the volatility of the market.

* Changing regulation: Regulation in Venezuela, as well as globally, can change. It is important to stay informed about the latest updates.

* Security: It is always recommended to use exchanges and platforms with good options and take security precautions to protect funds.

In summary, the ecosystem of exchanges in Venezuela remains active, although with adjustments and the exit of some platforms. The adoption of cryptocurrencies continues to grow in the country, influenced by economic factors and the search for alternatives.

financial alternatives.