Cryxto: Venezuela Cryptocurrency Exchange For Ripple (XRP)?

Cryptocurrencies are starting to become more common in Venezuela as the economic crisis that the country is facing is getting pretty rough. To avoid inflation, taxes or for many other reasons, people are starting to use crypto in the country to find a way out of the economic system. In fact, even the government has already announced that it will create its own cryptocurrency, the Petro.

But today we are not going to talk about coins but about a new exchange which has appeared on Venezuela: Cryxto.

What is Cryxto?

Cryxto is a new cryptocurrency exchange created to focus on the Ripple and offer services to the people of Venezuela. Ripple is one of the cryptos that is growing faster in the market, so it is only natural that it is becoming famous and popular.

This exchange trades Ripple and Bolívares (Venezuela’s currency). The company is sanctioned by governmental agencies and accepts payments from all the major banks in the country. This makes it clear that the main objective of this company is to become an accessible option for people who want to buy Ripple in Venezuela.

How to Use Cryxto?

To use this exchange, you have to register using a valid email and then verify your identity. You do not need to be Venezuelan, but you need to use the Venezuelan currency and have an account in a national bank to buy the tokens. After you are verified, you will be free to use your bank accounts to buy and sell Ripple (XRP) and you will receive a Cryxto wallet in case you do not have your own Ripple wallet yet.

The company charges some small fees whenever you make transactions. Receiving XRP tokens does not have a cost, but sending them costs 0.3% the value of the tokens. Buying or selling the tokens has a fee of 3% and withdrawing them has a 1% fee.

Cryxto Features

The company states that Cryxto is one of the most secure options in the Venezuelan market right now because you can only use it with a verified account and it has protocols to ensure that the transactions can only be made by you.

Cryxto also has full support for the users and local presence in the country, meaning that you can visit it to talk with the company whenever you feel that you need to. The platform is verified by the Superintendencia de los Criptoactivos y Actividades Conexas Venezolana (SUPCAVEN), so it is also legal.

The Cryxto Verdict

If you are based in Venezuela, this looks to be a great choice. It has somewhat high fees for a cryptocurrency exchange (although very low when compared to banks), but it definitely looks like an affordable and efficient option if you are in the country and you want to buy Ripple within the law.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,511FansLike
2,795FollowersFollow
4,272FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

DeFi Growth & Stablecoin Surge Most Bullish Crypto Development: DCG State of Crypto 2020 Survey

39% of the respondents that involve 150 portfolio companies see DeFi as the most bullish crypto development of 2020, as per the DCG Founders...

Non-Custodial Bitcoin Exchange, Hodl Hodl, Launches Lending Service Without KYC

Hodl Hodl, a non-custodial Bitcoin exchange, is launching a KYC-free lending product for its customers. The exchange claims that its lending product would be...

Total Value Locked in Harvest Finance Surpasses $1 Billion, Up 366,200% Since September

Decentralized platform Harvest Finance that provides users a way to farm assets for the highest yields now has more than a billion dollars in...

Strong Institutional Demand for Bitcoin, CME Becomes Second Largest BTC Futures Market

Bitcoin's price made a big shift this week as the bulls gained control of the market and pushed it past $13,000. A similar shift has...

PoolTogether's ‘No Loss' Gambling Platform Utilizes Chainlink’s VRF on Ethereum to Select Winners

Chainlink announces its verifiable random function on the Ethereum mainnet, bringing a host of benefits to the decentralized platform. PoolTogether, a gamified savings platform...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today