Since this Thursday, October 15, Binance has enabled direct deposits in bolivars in Venezuela via Pago Móvil or bank transfer, without going through P2P. Almost all posts repeat the same thing: "0% commission". But there are important questions left unanswered, so I'll go over them one by one.👇
How do I deposit?
Deposit → VES → Deposit Bolivars. You choose Pago Móvil or transfer.
Current schedule: every day from 00:01 to 20:59.
The money must come from an account in YOUR name.
Why don’t I see the option?
The rollout is gradual. It’s active, but not on all accounts yet. Update the app and check again over the next few days.
Does Binance receive my bolívares?
No. They’re processed by Casa de Cambios Insular, S.A., which Binance says is regulated by Sudeban and BCV. Binance doesn’t receive funds in local currency.
“0%” doesn’t mean everything is free.
There’s no deposit fee, but the conversion rate to USDT hasn’t been published.
Before confirming: bolívares you pay ÷ USDT you receive. That’s your actual rate. Compare it with P2P and the BCV rate.
Can I convert back to bolívares?
Not yet with this option. Withdrawals to your bank or Pago Móvil are “coming soon” (0.3%), with no date announced. For now, P2P is still the way to cash out.
Sending to third parties is also still pending.
Which banks work? Are there limits?
The official page doesn’t provide details. First, make a small test deposit.
Note: The page mentions “Funds Wallet” and “Spot Wallet.” If you don’t see your Bs in one, check the other.