When usage doesn’t care about bears and dips. Last week 59 BTC were traded in Venezuela using LocalBitcoin (a increase from 33 BTC from last week), that was around 7,000,000,000,000 Bs. (Bolivares, Venezuelan currency VES). One BTC is around 109,000,000,000 Bs. MONTHLY minimum wage is around 3.2 USD
Hi guys,
Happy bear market and happy hodling!
As you know, Venezuelan living here crypto entusiast!
CoinDance updated their numbers!
LocalBitcoin numbers are very low currently, around 2-3 mil USD weekly. Used to be the double!
Binance is becoming the crypto trading king here in Venezuela, allowing to buy and sell cryptos for Bolivares! One of the reasons of the LocalBitcoin drop.
And before someone ask, YES! That is the minimum wage! Usually that wage is limited to the public worker (they have some kind of scale), anyway higher position of the scale could be 10 monthly minimum wages, so around 30 USD monthly!
Average wages in the private sector are around 70 USD monthly, according to a research made by a NGO.
You cannot live with that income, one NGO called CENDA updated their research and for a 5 members family you need 416 USD monthly to live "ok" (months ago it was a bit lower, so even with a "hard" currency like USD there is inflation), so you need more than 120 monthly minimum wages monthly
http://cenda.org.ve/fotos_not/pdf/RESUMEN%20EJECUTIVO%20CBT%20MARZO%202021WEB.pdf
Check last Drew Brinsky (American Youtuber) video shows a lot of interesting things when he came here and tried to exchange 100 USD
https://www.youtube.com/watch?v=GkyLAKzznwg
Any question, AMA!
Sources (PLEASE check them!!!):
https://www.usefultulips.org/combined_VES_Page.html
https://www.caracaschronicles.com/
https://coin.dance/volume/localbitcoins/VES/BTC
https://localbitcoins.com/buy-bitcoins-online/ves/
https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/
submitted by /u/WorkingLime
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