This got censored from /r/CryptoCurrency but is an important read: As a Venezuelan, cryptocurrencies are a blessing.
As a Venezuelan, cryptocurrencies are a blessing.
The horrible situation my country is going through is no secret to anyone, nor is the impact cryptocurrencies have had. These are increasingly expanding among different businesses. It is common to see stores accepting BTC, BCH, USDT, BNB, etc, either to buy technological devices such as phones, TVs and other appliances but also basic goods like food, cheese, ham, eggs, meat, and honestly this is extremely useful. One of the biggest problems here is inflation, which makes our local currency useless and we are always looking to have an alternative method of saving like buying dollars or just getting food. It is crazy to keep Bolivares, as inflation eats it up in seconds and this is not an exaggeration. This leads to prices changing every day and there is no way to save money which is a big issue in case of an emergency.
I do not have a large income, like most of my fellow countrymen, but I am passionate about the world of cryptocurrencies to the point that I accepted a job where I receive BTC as a salary. It is a very low amount, however, it is higher than what I would get working in a common job here. I have been saving what I can and it is much better than earning our currency, also is relatively protected against inflation. Last Christmas was better than in previous years because of this, so for that and more I am very thankful. My family really needed a good time for a change.
I would like to make the most of the limited savings I have. I know it won't be much but what are the best ways to generate passive income with what little I have saved? I don't dare to trade due to my lack of knowledge and I would feel like I'm betting my life savings. I can't afford to lose that money but I guess I can do something like a fixed deposit, a loan or any other method that will help me generate a bit more every month.