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
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
Ethereum Price Ready to Surge—$2,000 Level Could Be Within ReachEthereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.
Author  NewsBTC
May 08, Thu
Ethereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.
placeholder
Ethereum Price Explodes Past $2,200 with 25% Surge—Momentum Builds FastEthereum price started a fresh surge above the $2,000 zone. ETH is now up over 25% and consolidating gains near the $2,200 zone. Ethereum started a fresh surge above the $2,000 resistance.
Author  NewsBTC
May 09, Fri
Ethereum price started a fresh surge above the $2,000 zone. ETH is now up over 25% and consolidating gains near the $2,200 zone. Ethereum started a fresh surge above the $2,000 resistance.
placeholder
Avalanche Price Forecast: AVAX eyes $30 as FIFA, VanEck back blockchain ecosystemAvalanche (AVAX) is gaining bullish momentum, extending gains on Friday, trading at $25.74 as investor confidence grows on the back of two major developments.
Author  FXStreet
May 23, Fri
Avalanche (AVAX) is gaining bullish momentum, extending gains on Friday, trading at $25.74 as investor confidence grows on the back of two major developments.
placeholder
Gold edges higher after Trump’s bill boosts bond market uncertaintyGold (XAU/USD) price extends its weekly gains, trading near $3,330 at the time of writing on Friday, up nearly 1% on the day, on a new tailwind for the safe haven precious metal.
Author  FXStreet
May 23, Fri
Gold (XAU/USD) price extends its weekly gains, trading near $3,330 at the time of writing on Friday, up nearly 1% on the day, on a new tailwind for the safe haven precious metal.
goTop
quote