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The once prosperous country of Venezuela has been struggling.Dylan Dedi · 3 years ago · 3 min read
Does dumping your entire life savings into cryptocurrencies sound like a smart idea? For some people in countries where hyperinflation is out of control, this has been the only way to secure their life savings.Dylan Dedi · 4 years ago · 3 min read
[Note: this article has been updated for accuracy] The average price of BTC on LocalBitcoins Venezuela is $1,980 above the Coinmarketcap spot price, likely making the stricken South American economy one of the world’s most expensive markets for Bitcoin.
Dash CEO, Ryan Taylor, says a few factors saw them enter the Venezuelan market three years ago, but the political situation has made their cryptocurrency a critical survival tool for many in the beleaguered country.