RATE Group | Binance Latam Lists Bolívar Amid Venezuela Struggling National Economy
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Binance Latam Lists Bolívar Amid Venezuela Struggling National Economy

17 Apr Binance Latam Lists Bolívar Amid Venezuela Struggling National Economy

Posted at 11:19h in Cryptocurrency News by

On April 16, major cryptocurrency exchange, Binance, announced that they are listing the Venezuelan Bolívar (VES) in their peer-to-peer trading platform against BTC, USDT, ETH, BNB, BUSD, and EOS, with no fees attached.

Exchange customers can now search for local P2P merchants who have stable cryptocurrency sources and trade them for VES. According to Binance, there are no security deposits and zero transaction fees.

In recent years, Venezuela has dealt with numerous economic and political crises. These have involved measures taken by the government to control the circulation of foreign currencies in the country.

As a currency, the Bolívar has been heavily devalued, and is now showing a conversion exchange of 121.653 VES per $1. VES’ inflation rate remains at 9585.50% as of press time.

VES trading volume hitting fresh all-time highs at the end of 2019

Speaking with Cointelegraph, Mariangel García, Marketing and Community Manager for Binance in Latin America, praised the…

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