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 graphs on CoinDance, there is a huge interest for people to change their failing and weakening bolivar into Bitcoin.



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.



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.


Please leave your questions and comments below:

Download the free Bit-Media App from the Google Play or Apple stores.

Click below and get your FREE BIT-MEDIA APP

Are you a Bitcoin Believer? Test your belief here - The Bitcoin Believers Business Manifesto

BEZY, a Bold Vision for Empowerment and Wealth Creation

EOT, quietly creating the Economy of Things