Hi guys, crypto enthusiast “living” here in Venezuela. I always post this update in a general subreddit, but considering it is focused in BTC wanted to share it directly with you. Years ago I used to post it here too.
Last weeks the traded value has been growing a little, I think because the withdraw of Uphold (They were really focused to Venezuelan users, sadly they had to leave the country because the difficulty of complying with US sanctions).
Besides LocalBitcoin people use Binance (king), AirTM, Reserve among others!
People use them to save their money from inflation (national currency is the Bolivar Bs.), to send remittances to family here, trade or exchange mining profits (here, electricity is free but mining is risky).
Last year government removed six zeroes from the currency, so 1,000,000 “old” Bs. is now 1 “new” Bs.
Yes, MONTHLY minimum wage is 24 USD, plus you get 45 Bs (Bolivares, national currency) 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.
Reddit and some redditors have helped me a lot!