45 BTC were traded last week in Venezuela using (only) LocalBitcoin, down from 48 BTC last week. Monthly minimum wage keeps going down, now under 23 USD. One BTC trades around 125,000 Bs. (Bolivares, national currency)

Hi friends, well just the same, updating this week numbers. As you probably know I'm Venezuelan "living" here and puting my grain of salt to cryptos from here!

LocalBitcoin is not the most used or popular, but it works as a gauge because it has an public stats updated weekly. I think the current king is Binance, after that comes AirTM, Reserve and others.

People use crypto to get rid of Bolivares and escape inflation, also to receive money from abroad, exchange their mining profit (mining here in theory is legal, but not safe anyway, electricity is free but unreliable, yesterday I just had a several hours blackout).

Last month inflation was 14%. High but better than that we had years ago.

Why no millions? Where are the zeroes? By law government removed six zeroes so 1,000,000 "old" Bs. is now 1 "new" Bs.

Yes, MONTHLY minimum wage is 23 USD, plus you get 45 Bs of food bonus in cash (that would be around 8 USD more) and in theory you should get a bag of food monthly worth around of 20 USD (rice, beans, oil, tuna, sugar, flour and so on). So if you don't have any extra income (other work, someone helping you and so on) you have to "survive" with that.

Average wage is around 100 USD monthly, a really good wage is 500 USD monthly (My dream hehehe).

Some sources,

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://coin.dance/volume/localbitcoins/VED/BTC

https://coin.dance/volume/localbitcoins/VED

https://www.caracaschronicles.com/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/

https://localbitcoins.com/country/VE

https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/