Home / Blog / Venezuela update. Last week 553 BTC (amount has been steady weekly) were traded using LocalBitcoin which is 365,670,000,000 Bs. Minimum wage is 5 USD per month. One BTC is 729,000,000 Bs. (Bolivares). AMA. : Bitcoin

Venezuela update. Last week 553 BTC (amount has been steady weekly) were traded using LocalBitcoin which is 365,670,000,000 Bs. Minimum wage is 5 USD per month. One BTC is 729,000,000 Bs. (Bolivares). AMA. : Bitcoin

Venezuela replace. Last week 553 BTC (quantity has been steady weekly) were traded using NativeBitcoin which is 365,670,000,000 Bs. Minimum wage is 5 USD per month. One BTC is 729,000,000 Bs. (Bolivares). AMA. : Bitcoin

Just updating this week numbers.

These volumes are solely measured using Localbitcoin (LBTC) using their API (Coindance). Big a part of that trade come from Venezuelans that stay overseas and ship cash to their households, miners, people who receives a commission in cryptos (freelancing) and even the personal authorities. It is round 2000 BTC per month.

Other exchanges and different trades were executed, however no approach of measure them.

Today trade price is round 1 USD = 75,000 Bs. (Official price is nearly the identical)

Minimum wage (which is earned by a giant chuck of the inhabitants, not like different nations) is 250,000 Bs. wage (lower than three USD) + 200,000 Bs. meals bonus (lower than three USD) PER MONTH.

Biggest financial institution word is 50,000 Bs. which is round zero.75 USD. You want to make use of debit and credit score, financial institution switch, cryptos and USD to pay something.

Here in Venezuela state of affairs is actually onerous, some folks dont consider that quantity is the minimal MONTHLY wage. I work and earn greater than that (anyway, the quantity is actually low, I am certain with that quantity I’d be residing homeless in Colombia, Peru or Panama for instance), normally get some donations from redditors and do some freelancing work (translating largely) and it is actually onerous to maintain up each day.

Sources:

https://coin.dance/volume/localbitcoins/VES/BTC

https://dolarsatoshi.com/

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