While 33 BTC were traded last week in Venezuela (LocalBitcoins only), inflation keeps going up. Monthly minimum wage now at 13 USD.

Hi, I like to post this here too, as BTC is the main coin!

Hi there, as I have been doing for years I'm keeping track of the crypto usage here in Venezuelan ("living" here).

Nothing new this week, 33 BTC (down from 35 BTC), around 120 BTC monthly.

Only LocalBitcoins makes public its stats. The total amount remains unknown, most of the trade is done in Binance (p2p), Reserve, AirTM among others.

Yes, MONTHLY minimum wage is around 13 USD. 130 Bs. and exchange rate is 1 USD = 10 Bs. Average wage is around 100-200 USD.

People use crypto to send remittances, save and exchange the profit from mining (as electricity is free here).

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/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/

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/