For no one it's a secret that the Bolivar has lost its value over the last few years, and problems such as inflation, constant devaluation and the high cost of living have affected the Venezuelan economy.
In view of this, cryptocurrencies have become the favorite alternative for millions of Venezuelans, who seek to protect their income, with the hope that their value will increase with time.
If you are reading this article, it is probably because you are looking for more solid alternatives to save, protect your money or invest with the help of cryptocurrencies.
Nowadays, there are many ways of getting cryptoassets. The most popular option is to go to exchanges, which work as a digital exchange house, allowing you to buy and sell cryptocurrencies, according to the price established by supply and demand.
On most platforms, you need access to digital dollars or other types of stablecoins to buy cryptocurrencies, which means that you can't use Bolivares as a payment method directly, this makes it difficult for many users to start their way in the crypto world.
As if that were not enough, some platforms have restrictions for users located in Venezuela.
Fortunately, there is El Dorado, a P2P platform created by Venezuelans, that allows any user in Venezuela to buy Bitcoins, altcoins and different cryptocurrencies using bolivares and other local payment methods.
Below, we will explain step by step how to buy cryptocurrencies in Venezuela in El Dorado:
Create your account in El Dorado
The first step to buying cryptocurrencies on our platform is to create an account, the process is very simple and can be completed in a few minutes.
All you have to do is go to the official website or download the mobile app from the Play Store or App Store.
Next, you have to create your username, password and complete the registration form with your data.
Once the registration is completed, you will be able to create a wallet, where you can store the cryptocurrencies that you buy later.
Important! To buy cryptocurrencies using El Dorado P2P, you need to complete the verification process, known as KYC.
Verify your account
This is an essential step to buy cryptocurrencies on our platform, because only verified users have access to the P2P marketplace.
The process is easy, fast, secure and allows us to guarantee a higher level of security to users.
All you have to do is enter in your profile, and select the Verification (KYC) option.
Once there, the platform will ask you for a photo of the front and back of your ID card. The photo must be of the original document, and you should make sure that all the data is clearly visible in the image.
The next step is to record a video of your face, this will be used to verify that you are the person shown on the ID document.
The process of validating your account is usually pretty quick. In fact, many users only have to wait five minutes after completing the KYC.
Buy cryptocurrencies in P2P
Having your account verified, now you can buy cryptocurrencies in Venezuela using payment methods like Zinli, Pago Móvil, Bolivares Bank Transfers, Zelle and many more.
But, how can you buy cryptocurrencies in Venezuela through P2P?
Well, the process is very simple. The first step is clicking on the “Exchange” tab, there you will find all the offers available to buy and sell different cryptoassets, including Bitcoin and stablecoins like Celo dollars, Celo euros and Tether (USDT).
Every offer includes information such as: the seller's user, his reputation, the payment method for the transaction and the amount of cryptocurrencies that he is selling.
Here is an example of how an advertisement looks like in the El Dorado P2P.
If any offer seems to be a good deal, and you want to buy the cryptocurrencies of that user, you only need to click on “Buy”, then you can choose to buy all the cryptocurrencies offered or only some of them.
Using our chat you will be able to talk with the seller and share the bank details needed to make the transaction, in this case, you are the one who must make the payment in bolivares through the selected payment method.
After making the payment, you just have to notify it on the platform, so the seller can proceed to free the cryptocurrencies.
And that's it! That is how you will easily have the cryptocurrencies available in your El Dorado wallet.
But… What happens if none of the available offers fits to what you are looking for?
In these cases you can create your own offer and decide on different parameters like the payment method of your preference, the price you want to pay for each cryptocurrency and the quantity you want to buy.
If you want to speed up the purchase process, you can join to our community on Telegram and share your ad.
After posting your offer, you must be alert to make the payment as soon as another user accepts the exchange.
Now you know how to buy cryptocurrencies in Venezuela, and you are ready to start to protect your income, save and even earn money using the cryptocurrencies available in El Dorado.
Follow these steps and discover by yourself the benefits of El Dorado!