Hello there, as at all times I prefer to publish this right here too:
Hello there, comfortable new 12 months!
As I’ve been posting for years, final week 33 BTC had been traded in Venezuela, that is solely measured utilizing LocalBitcoins as a result of they’re the one ones that make public their stats. It isn’t essentially the most used change by far, leaders are Binance, Reserve, AirTM amongst others. Years in the past it was used quite a bit, buying and selling over 2k BTC weekly.
One BTC had been traded round 320,000 Bs. (Bolivares)
And sure, month-to-month minimal wage is beneath 7 USD. It is 130 Bs. (Since 2007, 14 zeroes have been faraway from the Bolivar) and change fee is over 18 Bs. per USD.
Common wage is round 100 USD.
Inflation could be very excessive, Bolivares lose worth every day, so folks use crypto to keep away from that. Additionally, folks obtain remittances from overseas, change mining income and so forth (large mining comunity, as electrical energy is free..)
Some sources:
https://www.reuters.com/expertise/venezuelas-economy-regresses-crypto-fills-gaps-2021-06-22/
https://en.wikipedia.org/wiki/Hyperinflation_in_Venezuela
https://coin.dance/quantity/localbitcoins/VED/BTC
https://coin.dance/quantity/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/nation/VE
https://www.bloomberg.com/options/2016-venezuela-cafe-con-leche-index/
