Bitcoin adoption in Venezuela

Venezuela is famous for its beautiful tourist attractions, such as Angel Falls which is the largest waterfall in the world, and La Isla Margarita. Venezuela is one of the world’s top oil producers, its major export.  Bitcoin adoption is on the rise!

In 2015, Venezuela had over 100% inflation which was the highest in the world and the highest in the country’s history up until then.  The rate increased to nearly 500% by the end of 2016 losing 45% in November 2016 alone. Venezuela has spiraled into hyperinflation while the poverty rate rises between 76 and 80%

Many Venezuelan’s are struggling to make ends meet and have topped the Global Misery Index.  In terms of bitcoin adoption in Venezuela, it is clear by the LocalBitcoins graph below, there is huge interest for people to change their failing and weakening bolivar into Bitcoin.

There is a growing number of Venezuelan’s who trade bitcoin for necessities – Click here

Many are turning to mining bitcoin – The Secret, Dangerous World of Venezuelan Bitcoin Mining

As Bitcoin Becomes Venezuelans’ Last Resort, Even When Buying Food

But there is a downside… The Venezuelan government is not against bitcoin or the mining of bitcoin, however, it seems they are against stealing free electricity!  Read the full article here.

Bitcoin in South America: Why Venezuela Has an Active Bitcoin Mining Community

The impending collapse of Venezuela

Here is a list of exchanges supporting Venezuela

Or simply connect with buyers and sellers close to you using over the counter platform LocalBitcoins

Venezuelan Odyssey for Cash Endures With Delay of New Bills – following India’s demonetization

25% discount when you purchase Cryptopay debit card – CLICK HERE

Get a FREE BITCOIN EDUCATION and keep abreast of the news by following

Bit-Media Blog, Bit-Media Facebook page and the Bit-Media YouTube Channel 

Embrace the new digital economy, do not get left behind!

Please leave your comments below