Finding ways to maintain the value of our savings is a global practice, and in critical economies such as Venezuela’s use of them becomes vital. In the last decade Bitcoin has positioned itself as an excellent option for savers, either because of its high market value or its upward trend. Despite all the benefits that Bitcoin can bring us, there is always the question How can I buy this currency? For strangers to the matter can be totally confusing. If this is your case, don’t worry, this tutorial seeks to clarify your doubts.
Here it is when it comes into play Surbitcoin, A web portal that us allows the purchase and sale of bitcoins using the local currency of Venezuela, the bolivar. Without the need to go to dubious means of trust, or people who can attack our security, Surbitcoin has been one of the most active digital currency exchange markets in Venezuela since its launch in 2014.
Surbitcoin offers us the ease of acquiring and selling our bitcoins, without straying from security. Such is the case that in order to deposit and withdraw money, this portal will ask us for a photo of our identification document, thus preventing people with criminal purposes from carrying out money laundering on this portal.
Now, what list of school supplies, before we start we must have on hand:
- A digital photo of an identity document (Card or passport)
- Photo or PDF of our RIF
- Personal photo type “Selfie” holding the identification document and that it is clearly visible.
Having all this in hand, let’s get started.
The first thing we will do is go to the main page of Surbitcoin. Once there, we will select the Register button.
After clicking, a registration form will open where we have to fill in the fields with our data. At the end we will be asked to confirm our email and, after doing so, we will see a box where we will place the unique confirmation number that was sent to our email.
Having done this, READY! we have our account; but this is the easy part, now we need to verify it in order to make deposits and withdrawals of money. To do this we will go to the right side menu and select ‘Verify account’, As shown in the following image.
Already here, we need to place personal data. We must keep in mind that this data must be real, as if we do not match the documents that the verification will request, we will not be able to use the service. After filling in the fields, to continue, we must upload the documents mentioned at the beginning of this tutorial (Certificate or Passport, Rif and Personal Photo) as shown in the image below.
Having done this we will let you continue. Our verification at this time will be ‘processing’ as we must wait for administrators to verify the veracity of the information delivered. To check the status of our account, we can go to the menu section My profile and view the status of our verification, as shown below.
If ‘Yes’ appears in the verification (as in the image), GREAT! we already have a verified account and ready to make transactions on the Surbitcoin platform.
Deposit bolivars on Surbitcoin
Already having our account verified, Surbitcoin gives us the facility to make deposits in both bolivars and bitcoins. To do this we will go to the menu section deposits and the next screen will open.
At the top we need to select our method of preference. Although we do not care, in this tutorial we will show how to make deposits in both ways.
We will use as the first of the cases the deposits in bolivars. After clicking on this option, a box will open where we will select the bank to which we want to make the deposit. It should be noted that the option to deposit in the Mercantile account is not enabled at the time of publication of this tutorial, so only the Banesco current account deposit option is available. Once selected it will show us the following screen.
Here we have to place the exact sum of the deposit that we will make and the pressure to continue will generate the following box.
This information is for making the deposit, which we can print by clicking on the button below. If the deposits made are made directly from Banesco, Surbitcoin guarantees to make the transaction effective in the thirty (30) minutes next. Instead, if you do it from other banks, you have a term of up to 72 hours.
After we have made our deposit or transfer, we need to take a photo of the receipt that will be requested for the validation of the deposit. To perform this validation, we will go to the ‘Deposits’ section and look at a table with the deposits made, as shown in the image below.
Being here, we will check the transaction according to the amount we make, click to send proof and fill in the data requested, as well as attach the document or photo of our deposit slip. Having done all this correctly, just wait for the amount deposited to be reflected on the right side of the menu, and ready, we will have our money available for bitcoin purchases.
Deposit bitcoins on Surbitcoin
On the other hand we have the bitcoins deposits, Which are a bit simpler. In the same section of ‘Deposit’ we will click on deposit Bitcoin, here a box will be generated warning us that an address will be created for a single transaction. After that we will press continue and it will give us a bitcoin wallet address, just like its pair in QR code. Please note that the address provided can only be used for a single shipping transaction, so if you later want to make a new shipment, you will need to use a new one.
Having already made our shipment, we will have the availability of our bitcoins on the Surbitcoin platform once they have received a confirmation from the miners of the Bitcoin network, as shown in the following image.
READY! we already have funds to acquire bolivars. We continue.
Buying and selling bitcoins
Already having funds in our account we can begin to carry out our operations. There are currently two methods for buying and selling bitcoins on Surbitcoin. To enter the first method, click on the Surbitcoin logo at the top left, which will take you to the next page (can also be accessed by clicking on the option ‘Order book’ menu on the right).
Here, as we see at the top we can place the amount we want to buy or sell, setting a price per bitcoin. On the right, we can see the current purchase / sale rate in bolivars. For beginners this is usually a bit annoying, so I recommend a much simpler method.
In the side menu, we will click on the option ‘Buy or Sell’, Here it will take us to the next window.
The method here is simple, we just need to place the amount of bolivars or bitcoins we want to buy or sell, and the system will automatically perform the operation depending on the current market buying and selling rate. So we don’t have to ask at what costs we have to buy or sell them. We must also remember that Surbitcoin will charge us a commission of around 1.5% of the total transaction.
After we have made our transaction and it is confirmed, the resulting menu will show the resulting balance with the commission per transaction already discounted, as shown in the image below.
This same menu will serve us as shortcut to perform deposit and withdrawal actions on bolivars and bitcoins, Using the buttons shown with inbound and outbound arrows displayed on the part of each balance.
Withdrawal of funds
Having already made our purchase and sale transactions, the next step is to withdraw funds from the portal, so we will go to the Withdrawals option that will open the next window.
Once here we have to select whether we want to withdraw our bolivars or bitcoins.
To remove bolivars, We have to press the corresponding button and choose which option we prefer for us to make the transfer. The options offered by Surbitcoin are: Banesco Current Account, Other National Banks and Provincial Bank. (In the case of Banesco Current Account, the withdrawal is made in a few minutes)
Whatever the option, the data we will have to fill in will be very similar: customer account code, bank, account type, amount to withdraw, owner name, ID number and email. As shown in the following image.
For the case of of withdrawal of bitcoins we have to select the corresponding button and the next window will open.
Here we have to place the address of our personal wallet, which can be scanned by QR code if we have a webcam on our computer; we will also place the amount we wish to withdraw. Surbitcoin does not allow withdrawing funds for less than 0.001 BTC per transaction. Having done all this, we will select the OK option and we just have to wait for the transaction to be confirmed to have the currencies in our wallet.
Surbitcoin is currently in full growth and given the high demand that currently exists in the country, there are often times when when making a purchase, the portal will tell us that it does not currently have enough supply of digital currency to to meet our demand. So if you’re an adventurer, and you like to keep your savings in good hands, Surbitcoin is at your disposal to help you.
update: Surbitcoin stopped operate on February 3, 2017.