Venezuela update. 446 BTC were traded using LocalBitcoin last week, buying BTC with Bs. and selling BTC for Bs. (Bolivares, Venezuelan "official" currency). These 446 BTC were 1,482,000,00,000 Bs. (Bolivares, ATH). One BTC is around 3,650,000,000 Bs. Monthly minimum wage is around 2.5 USD

Just updating this week number, looks like this month we will be slightly under 2000 BTC. I post this so people know what is going on here with crypto.

The is a retail store where you can purchase anything using cryptos, it is called Traki

https://finance.yahoo.com/news/venezuela-largest-retail-chain-1-213556131.html

UsefulTulips gives a monthly amount but in USD, around 5 USD millions weekly.

This is only measured using LocalBitcoin, there are other exchanges like AIRTM, Uphold, Binance and so on, but no open data as far as I know. Most of the Localbitcoin trades are in Bolivares (BTC to BS and BS to BTC).

Here are more stats https://www.usefultulips.org/combined_VES_Page.html

I recommend reading this website, it is one of the best english websites for Venezuela news (they sometimes touch the crypto and economic situation).

https://www.caracaschronicles.com/

The average income of the Venezuela is 0.72 USD daily (2020 numbers).

https://www.caracaschronicles.com/2020/07/08/yes-venezuela-is-now-the-poorest-country-in-the-americas/

Any question let me know, AMA. But check my links and sources first.

Sources:

https://orinocotribune.com/comprehensive-minimum-wage-increase-by-78-in-venezuela/

https://www.npr.org/sections/goatsandsoda/2019/09/06/757822363/a-doctor-or-nurse-might-earn-6-a-month-in-venezuela-if-theyre-lucky

https://coin.dance/volume/localbitcoins/VES/BTC

LBTC listings https://localbitcoins.com/buy-bitcoins-online/ves/



Submitted August 23, 2020 at 09:14PM by WorkingLime https://ift.tt/31mIihe

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