Venezuelan company Cryxto launches Ripple (XRP) exchange, a new Venezuelan cryptocurrency exchange has launched where users can buy and sell Ripple (XRP) in Venezuelan bolivars. Cryxto is a Venezuelan organization, therefore it is governed by the current legislation of the country and is in the process of obtaining a license by the Superintendence of Cryptocurrencies and Related Activities in Venezuela.

Users can deposit bolivars free and withdrawal at 1% of the total amount. Sending XRP is 0.3% + 0.000012 XRP (Ripple network) and just 0.3% when sending to another Cryxto user. Purchasing and selling XRP incurs a 3% fee of the total amount in bolivars.

As mentioned above, in compliance with Venezuelan legislation, the exchange says they are in the process of applying for a License by the Superintendence of Cryptocurrencies and Related Venezuelan Activities (SUPCAVEN) to operate in the country. This superintendency is very new along with the law that regulates the exchange houses in Venezuela (January 2018).

Venezuela is preparing for the use of cryptocurrencies, it is not for nothing that they are within the top 5 countries with the largest transactions of cryptocurrencies in the world.

Cryxto is a formal and legally constituted company in Venezuela (Rif J-41113106-7). With its offer of Ripple (XRP), it wants to participate in the market as an alternative to invest and save or simply as a way to send and receive family remittances to and from Venezuela, making use of cryptocurrencies.