Binance Faces Web Restrictions After the Venezuelan Government Bans X (Twitter)

Source Beincrypto

Venezuelan users now face restricted access to Binance, the world’s largest crypto exchange based on trading volume, as the government extends its internet crackdown.

This development raises concerns within the local crypto community. 

Venezuelan Crypto Users Navigate Binance Blockade with VPNs

According to an official statement released by X, the company confirmed that it is experiencing difficulties in providing access to its web platform for Venezuelan users.

“Like several websites of companies from different segments in Venezuela, including social networks, Binance pages have been facing access restrictions,” the statement read.

Read more: Best Binance Alternatives in 2024 for Trading Crypto

Binance Is Currently Unavailable for Venezuelan Users. Source: Binance

Despite the unsettling situation, Binance reassured its users that their funds are safe. Furthermore, the company is working diligently to resolve the issue. 

This development has led users to adopt virtual provider network (VPN) services to maintain access. However, based on BeInCrypto’s finding, the restriction currently affects only the web platform, with the mobile app still operational.

Ernesto Contreras, former Head of Business Development at Dash Core Group and a prominent figure in Venezuela’s crypto space, advised users not to panic. He suggested they use VPNs with non-US locations. 

“Also, if you are an expert, it is time to start self-custody! Download your wallet and try to store your funds yourself (Make sure to protect your seed phrase) […] Take advantage of learning, and everything will be fine!” Contreras added.

The restrictions come as Venezuelans are increasingly dependent on digital currencies to navigate the country’s ongoing economic crisis. The use of cryptocurrency in Venezuela has surged in recent years, providing a lifeline for those seeking to preserve the value of their assets in the face of hyperinflation and economic uncertainty.

This development follows the recent ban on X (Twitter) due to a public spat between Venezuelan President Nicolás Maduro and X owner Elon Musk.

Read more: 7 Best Binance Alternatives in 2024

Following a disputed presidential election last month, tensions escalated. Musk labeled Maduro a “dictator” and a “clown,” while Maduro accused Musk of inciting “hatred, fascism, and civil war.”

In response, Maduro signed a decree ordering the Venezuelan telecommunications regulator, Conatel, to block X for ten days, allowing the platform time to respond.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
XRP Price Prediction: Fibonacci And Elliott Wave Analysis Suggests $15 By May 2025Egrag Crypto, a well-known crypto analyst on the social media platform X, recently shared an optimistic price prediction for XRP. According to the analyst, technical analysis of the XRP price on the
Author  NewsBTC
Dec 30, 2024
Egrag Crypto, a well-known crypto analyst on the social media platform X, recently shared an optimistic price prediction for XRP. According to the analyst, technical analysis of the XRP price on the
placeholder
Ripple (XRP) Price Sees a Surge, Solana Targets $600 in 2025 as Investors Increase Focus on New AltcoinThe cryptocurrency market is showing renewed momentum as Ripple (XRP) experiences a significant price surge, and Solana (SOL) sets its sights on a bold $600 target by 2025. Meanwhile, a rising altcoin, Lightchain AI, is capturing investor attention with its innovative ecosystem and strong presale performance, making it a compelling choice for forward-looking investors. Ripple […]
Author  Cryptopolitan
Jan 15, Wed
The cryptocurrency market is showing renewed momentum as Ripple (XRP) experiences a significant price surge, and Solana (SOL) sets its sights on a bold $600 target by 2025. Meanwhile, a rising altcoin, Lightchain AI, is capturing investor attention with its innovative ecosystem and strong presale performance, making it a compelling choice for forward-looking investors. Ripple […]
placeholder
Bitcoin Outlook 2025As the Bitcoin market continues to mature, its 2025 outlook appears highly favourable, driven by institutional adoption and regulatory developments.
Author  TradingKey
Jan 23, Thu
As the Bitcoin market continues to mature, its 2025 outlook appears highly favourable, driven by institutional adoption and regulatory developments.
placeholder
What Crypto Whales are Buying For May 2025Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
Author  Beincrypto
Apr 21, Mon
Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
placeholder
Gold Price Forecast: XAU/USD attracts some sellers below $3,250 on firmer US DollarThe Gold price (XAU/USD) extends the decline to around $3,245 during the early Asian session on Thursday. The precious metal edges lower to near a two-week low amid easing US-China trade tensions and stronger US Dollar (USD) demand. 
Author  FXStreet
May 01, Thu
The Gold price (XAU/USD) extends the decline to around $3,245 during the early Asian session on Thursday. The precious metal edges lower to near a two-week low amid easing US-China trade tensions and stronger US Dollar (USD) demand. 
goTop
quote