More positive news from South America arises as SurBitcoin, Venezuela’s first Bitcoin exchange, opens its doors for business.
The exchange, which allows users to exchange bitcoins for Venezuela’s state currency, the bolívar, is run by US-based Venezuelans Kevin and Victor Charles.
The exchange was born from a meeting between the Charles brothers and Rodrigo Souza, head of BlinkTrade. Souza, a Brazilian, offered the us of his open-source software to build what became SurBitcoin. SurBitcoin’s platform charges a 0.6% transaction fee, and includes security measures to help keep users’ coins safe.
Complying With Venezuelan Authorities
One of the drawbacks of doing business with SurBitcoin is the fact that in order to comply with Venezuelan laws, Surbitcoin users are unable to remain anonymous.
To sign up for a SurBitcoin account, users must provide their real name, a copy of government-issued ID, and their physical address. From there, SurBitcoin must verify that information with the country’s electoral registry. Once confirmed, the user’s account is activated. This only takes a few minutes to complete though.
Their verification process for users outside of Venezuela, though, is unclear.
As a trailblazer in Venezuela, SurBitcoin believes the way they operate their business will have a big impact on how the Venezuelan government sees Bitcoin.
And they’re wise to do so. Fellow South American nations Ecuador and Bolivia have both banned digital currency altogether.
To discover more about their platform, visit their website.
SurBitcoin, Venezuela's Own Bitcoin Exchange, Opens Its Doors
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