Cryptobuyer is a Venezuela-based startup company that makes it easy for residents of Latin America and Brazil to access bitcoin and other cryptocurrencies. Here’s our review.
What Is Cryptobuyer?
Cryptobuyer is a bitcoin and cryptocurrency exchange based in Venezuela. The startup launched in 2016. Today, it’s best-known for its mobile phone top-ups, which let you load funds over the phone, even from friends or family in foreign countries.
Cryptobuyer is also popular for its debit cards, which can be used internationally at ATMs and wherever Visa is accepted.
Venezuela is one country that can really benefit from cryptocurrency exchanges like Cryptobuyer. The country has been in economic turmoil in recent years. Venezuelans have been dealing with massive food shortages, inflation, and power outages caused by the failed economic policies of the socialist government.
This has caused huge problems with the country’s currency, the Venezuelan Bolivar. Despite repeated efforts by the country to peg the bolivar to a stable currency – like the USD – nobody really pays attention to the official government exchange rates.
Cryptobuyer aims to solve that problem by giving Venezuelans access to the world of cryptocurrency. In Venezuela and other parts of Latin America, many people lack access to basic financial services – including bank accounts and credit. Thanks to Cryptobuyer, people can access the expanding world of cryptocurrencies.
After launching last year, Cryptobuyer has seen soaring demand for cryptocurrencies in Venezuela.
However, Cryptobuyer is not exclusively for residents of Venezuela. In an interview last year, company CEO Jorge Farias described how the exchange had attracted thousands of users in Brazil, Panama, Chile, and Colombia as well, as residents of these struggling nations search for financial alternatives.
One of Cryptobuyer’s most popular products is its national and international debit cards, both of which can be used anywhere Visa is accepted. Cards can also be pre-loaded from mobile phones, including the ability to accept payments from friends and family overseas using the Cryptobuyer platform and mobile app.
Cryptobuyer promises all of the following features:
Multiple Options & Access Methods:
Cryptobuyer makes it easy for people to access the platform regardless of the technology used. Mobile phone top-ups are available, for example. Users can also deposit funds via bank transfers or credit card payments. If you want a debit card that can be used anywhere, you can apply for one through Cryptobuyer.
Cryptobuyer uses SSL certificates, BitGo Instant Support, two factor authentication, Cloudfare, and other security platforms common across cryptocurrency exchanges.
Cryptobuyer promises verifiable, auditable transactions and an internal arbitrage system.
Cryptobuyer provides personalized assistance via email and ZenDesk.
Cryptobuyer is more user-friendly than a lot of exchanges, and offers a UI that’s easy for beginners to understand.
Legal & Compliant:
Cryptobuyer makes a big deal out of ensuring it’s 100% legal, auditable, and by the books. Transactions are legal and the company complies with regulations.
The Cryptobuyer Visa Debit Card
Like other cryptocurrency exchanges, Cryptobuyer lets you buy a VISA debit card. You can purchase a National Debit Card or International Debit Card through the site:
National Debit Card
- Offers ATM withdrawals
- Can be used anywhere Visa is accepted
International Debit Card
- Low commissions
- Physical and virtual cards available
- Accepted worldwide
One way in which Cryptobuyer users can use these cards is to recharge cards from abroad using a phone transaction. Instead of dealing with conventional banking systems and transactions, you can quickly load money from a phone from abroad.
Right now, mobile phone top-ups are only available in Venezuela through Movistar and Digitel, with Movilnet coming soon. Brazil and Panama phone top-ups are also coming in the near future. However, you can accept payments from overseas over the phone using the Cryptobuyer platform.
You can view a list of ATM partners on their site. ATM partners are available in Panama, Mexico, the Dominican Republic, Portugal, Italy, and the UK.
Cryptobuyer is a multidisciplinary team of entrepreneurs who want to introduce blockchain technology to Latin America and Brazil. The exchange is popular throughout South America. Cryptobuyer is based in Caracas, Venezuela and is led by CEO Jorge Farias.
Key investors in Cryptobuyer include the VC fund Denari Capital as well as the Bitcoin Foundation of Venezuela.
The company wants to be more than just a cryptocurrency exchange: they also want to improve the social welfare of Venezuela and surrounding countries. With that goal in mind, Cryptobuyer offers specialized advice and consultant services to companies, groups, individuals, and NGOs throughout the region.
Should You Use Cryptobuyer?
Cryptobuyer is a cryptocurrency trading platform based in Venezuela and popular among residents of Latin America and Brazil. The exchange is expanding across the region quickly. Right now, Cryptobuyer is known for its phone top-ups (available in Venezuela) and its ability to accept top-ups from abroad from anywhere in the world.
The exchange is also popular for its debit cards, which can be pre-loaded and then used as an ordinary debit card. They’re accepted at many ATMs throughout Latin America and Brazil and can be used where Visa is accepted.
You can learn more about Cryptobuyer today, or sign up for an account, by visiting Cryptobuyer.io.