Venezuela survives the crisis thanks to Bitcoin, due to the devaluation of the local currency, and everything is bought with this cryptocurrency, including cars, motorcycles or houses.

The economic situation in Venezuela is not even close to the best, since the country is in a deep recession that has led the 'bolivar', the local currency, to be worth practically nothing, indeed, a few months ago we already said that 1 bolivar was worth less than 1 satoshi of Bitcoin. This cryptocurrency has served many citizens, a subsistence method and there are many establishments in the country that already only support Bitcoin or other cryptocurrencies. Many have already started selling houses and vehicles for Bitcoin.

This economic situation, for many, is suffocating and they try to alleviate it as best they can and one method is with cryptocurrencies and more specifically with BTC. The case of a 45-year-old Venezuelan, who goes by the name of Rafael González, has been known, who has sold his car for BTC, something that has allowed him to sell it for a higher value and whose capital he can diversify, using it to buy food or that it is third and the rest move it or leave it quiet while waiting for this cryptocurrency to rise. He wants to sell the car for 0.5BTC, which is approximately $ 7.500 in exchange, but the transaction has not been confirmed at the moment.

There are many citizens who use Localbitcoins, the Venezuelan page for buying and selling cryptocurrencies, in addition to an online wallet, to trade and that also installs payment systems with cryptocurrencies. Due to the devaluation of the local currency, many users sell and buy all kinds of objects, such as computers, musical instruments, gold, motorcycles, houses or the aforementioned car, among others. This happens while Maduro, president of the country, a few weeks ago announced the Petro cryptocurrency, of which at a technical level, we know absolutely nothing.

Source: LB