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 graphs on CoinDance, there is a huge interest for people to change their failing and weakening bolivar into Bitcoin.
- There are a growing number of Venezuelan’s who trade bitcoin for necessities – Click here
- Many are turning to mine 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
Get your copy of What is Bitcoin
This e-book on Amazon explains what Bitcoin is, it explains that Bitcoin (BTC) is a virtual currency, digital not physical, and independent of banks. Useful links and resources for the newbie and advanced Bitcoiner or cryptocurrency enthusiast.