 | Hi there, as always I like to share this here too! Hi guys, as I have been doing for years, just updating this week numbers. As you probably know I'm Venezuelan living here! This week we saw a increased compared to last week (35 BTC), maybe because in december people spend more money. This is the biggest increase since July. Don't get me wrong, the amount is still low considering the values we managed years ago. Why? LocalBitcoins is not that used anymore like before, people moved to Binance, Reserve, AirTM and others. One BTC trades around 300,000 Bs. Yes, monthly minimum wage is under 8 USD (130 Bs. -Bolivares-, exchange rate is around 17 Bs. per USD), average wage is around 100-120 USD and according to NGO a person needs 80 USD monthly to not starve. Inflation is very high, Bolivares lose value each day, so people use crypto to avoid that. Also, people receive remittances from abroad, exchange mining profits and so on. Yeah, electricity is kinda free... Some sources: https://www.reuters.com/technology/venezuelas-economy-regresses-crypto-fills-gaps-2021-06-22/ https://en.wikipedia.org/wiki/Hyperinflation_in_Venezuela https://coin.dance/volume/localbitcoins/VED/BTC https://coin.dance/volume/localbitcoins/VED https://www.caracaschronicles.com/2022/04/21/is-venezuela-doing-better/ https://www.caracaschronicles.com/2022/04/20/the-bizarre-figures-of-venezuelas-economic-recovery/ https://localbitcoins.com/country/VE https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/ [link] [comments] |
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments