330 BTC were traded worldwide using LocalBitcoin. Around 8% (27 BTC) of it were traded in Venezuela. Updating this week numbers. Monthly minimum wage still 30 USD.

dfmines Cryptocurrency News March 27, 2022 | 0

One BTC is around 200,000 Bs. (Bolivares, Venezuelan currency). 1 USD is around 4.4 USD

As I always say, LocalBitcoin is only one of the exchanges and for sure it's not the biggest one, but it's the one that has public stats.

I think Binance is king, it lets you go from Bolivares to any crypto.

Some common questions:

I remember the Venezuelan currency with a lot of zeroes, what happened? Goverment (for third time since 2008) removed 6 zeroes from the currency by law, so now 1 "current" Bolivar was 1,000,000 "old" Bs (bolivar) before OCT2021.

Was the monthly minimum wage really 2 USD monthly? Yes, 2 USD MONTHLY! After a increase, goverment pegged it to the national "cryptocurrency" the Petro, that is, as today around 28 USD. Also you get a food bonus in cash of around 10 USD. In fact, the new wage was officially set at 130 Bs. monthly (and exchange rate is 1 USD = 4.4 Bs.) that is 30 USD.

Is that enough? No, it is not. Some NGO say a family of 5 members need AT LEAST 500 USD monthly to "live".

What is the average wage? Some measurements puts in around 90 USD monthly. A manager could be over 200 USD monthly. That puts moons income a good chunk of money here.