12-19-2022, 09:48 AM
35 BTC were traded in Venezuela last week measured only LocalBitcoin after a hard de
<!-- SC_OFF --><div class="md"><p>Hi there, just posting my weekly update from Venezuela.</p> <p>Nothing new, 38 BTC a 3 BTC increase from last week. As I always say this is only measured using LocalBitcoins which is not used much anymore but it's the only one that makes public their stats.</p> <p>Most used CEX are Binance, AirTM, Reserve among others. LocalBitcoins was king years ago.</p> <p>Yes, that is the monthly minimum wage sadly. 130 Bolivares (Bs.) exchange rate is around 16 Bs. per USD (official) and 17 Bs. per USD (street).</p> <p>People use crypto to avoid Bolivares, get paid, pay things, exchange profit from mining (electricity is "free"
and also receive and sent remitances from/to abroad.</p> <p>Any question, let me know.</p> <p>Some sources:</p> <p><a href="https://www.reuters.com/technology/venezuelas-economy-regresses-crypto-fills-gaps-2021-06-22/">https://www.reuters.com/technology/venezuelas-economy-regresses-crypto-fills-gaps-2021-06-22/</a></p> <p><a href="https://en.wikipedia.org/wiki/Hyperinflation_in_Venezuela">https://en.wikipedia.org/wiki/Hyperinflation_in_Venezuela</a></p> <p><a href="https://coin.dance/volume/localbitcoins/VED/BTC">https://coin.dance/volume/localbitcoins/VED/BTC</a></p> <p><a href="https://coin.dance/volume/localbitcoins/VED">https://coin.dance/volume/localbitcoins/VED</a></p> <p><a href="https://www.caracaschronicles.com/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/">https://www.caracaschronicles.com/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/</a></p> <p><a href="https://www.caracaschronicles.com/2022/04/21/is-venezuela-doing-better/">https://www.caracaschronicles.com/2022/04/21/is-venezuela-doing-better/</a></p> <p><a href="https://www.caracaschronicles.com/2022/04/20/the-bizarre-figures-of-venezuelas-economic-recovery/">https://www.caracaschronicles.com/2022/04/20/the-bizarre-figures-of-venezuelas-economic-recovery/</a></p> <p><a href="https://localbitcoins.com/country/VE">https://localbitcoins.com/country/VE</a></p> <p><a href="https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/">https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/</a></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/WorkingLime"> /u/WorkingLime </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zp763m/35_btc_were_traded_in_venezuela_last_week/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zp763m/35_btc_were_traded_in_venezuela_last_week/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>Hi there, just posting my weekly update from Venezuela.</p> <p>Nothing new, 38 BTC a 3 BTC increase from last week. As I always say this is only measured using LocalBitcoins which is not used much anymore but it's the only one that makes public their stats.</p> <p>Most used CEX are Binance, AirTM, Reserve among others. LocalBitcoins was king years ago.</p> <p>Yes, that is the monthly minimum wage sadly. 130 Bolivares (Bs.) exchange rate is around 16 Bs. per USD (official) and 17 Bs. per USD (street).</p> <p>People use crypto to avoid Bolivares, get paid, pay things, exchange profit from mining (electricity is "free"
and also receive and sent remitances from/to abroad.</p> <p>Any question, let me know.</p> <p>Some sources:</p> <p><a href="https://www.reuters.com/technology/venezuelas-economy-regresses-crypto-fills-gaps-2021-06-22/">https://www.reuters.com/technology/venezuelas-economy-regresses-crypto-fills-gaps-2021-06-22/</a></p> <p><a href="https://en.wikipedia.org/wiki/Hyperinflation_in_Venezuela">https://en.wikipedia.org/wiki/Hyperinflation_in_Venezuela</a></p> <p><a href="https://coin.dance/volume/localbitcoins/VED/BTC">https://coin.dance/volume/localbitcoins/VED/BTC</a></p> <p><a href="https://coin.dance/volume/localbitcoins/VED">https://coin.dance/volume/localbitcoins/VED</a></p> <p><a href="https://www.caracaschronicles.com/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/">https://www.caracaschronicles.com/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/</a></p> <p><a href="https://www.caracaschronicles.com/2022/04/21/is-venezuela-doing-better/">https://www.caracaschronicles.com/2022/04/21/is-venezuela-doing-better/</a></p> <p><a href="https://www.caracaschronicles.com/2022/04/20/the-bizarre-figures-of-venezuelas-economic-recovery/">https://www.caracaschronicles.com/2022/04/20/the-bizarre-figures-of-venezuelas-economic-recovery/</a></p> <p><a href="https://localbitcoins.com/country/VE">https://localbitcoins.com/country/VE</a></p> <p><a href="https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/">https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/</a></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/WorkingLime"> /u/WorkingLime </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zp763m/35_btc_were_traded_in_venezuela_last_week/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zp763m/35_btc_were_traded_in_venezuela_last_week/">[comments]</a></span>