Venezuela Crypto Style

It is common to say "cryptocurrencies are here to stay", in Venezuela this phrase has a connotation that goes much further. It is no secret to the world that Venezuela suffers from a precarious economy as a result of exacerbated corruption and misguided economic policies, and that hyperinflation dilutes Venezuelan purchasing power daily.

The monthly minimum wage is established in Bolívares (VES) and today's change with respect to the Dollar would be less than $ 2, in a country where the basket of basic products exceeds $ 600, this circumstance has caused the Venezuelan to have migrated to best ways to obtain a greater monthly income, where the collection is in foreign currencies or cryptocurrencies, the latter being the largest and best option, since most of its inhabitants lack accounts abroad (foreign currencies).

Undertakings

The salaries established by the State are so low that a large part of the population has chosen to dedicate themselves to trade, especially in the area of ​​food products, their importation has accelerated in recent months due to the lack of variety of brands. on the shelves. Others have chosen to reinvent themselves and have established their niches on the Internet or monetizing their work on websites as freelancers.

In either case they receive for the sale of their products or payment for the provision of services: foreign currencies (such as the Dollar or the Euro) or cryptocurrencies, the latter being the most attractive as I have already reviewed.

Cryptocurrencies and Trading

In Venezuela, currencies are not only here to stay: "they are without a doubt your salvation", for many years some products or services have been traded in cryptocurrencies, merchants have seen them as a refuge from devaluation, which has led them to position themselves as one of the nations with the highest volume o Bitcoin transactions worldwide.

The launch of the Petro (PTR) (centralized cryptocurrency with which I do not totally agree) has somehow complemented this interest towards them, has encouraged a large part of the population to obtain more knowledge about its use and acquisition.

Cryptocurrency trading has risen in recent months especially with the exit of P2P in Binance where its Bolivars (VES) trading is now allowed, allowing access to them easily and intuitively. Until a few months ago this could only be done on sites like LocalBitcoins, but in my concept its interface makes access for beginners a bit difficult.

Venezuela undoubtedly aims to make a Crypto Nation, although you still gave a lot of it the term "cryptocurrency" as the days go by it will become a very common one for every Venezuelan, and its adoption is for the moment the best option that merchants have and people to take refuge from inflation.