UPDATE. 36 BTC were traded last week in Venezuela only measured using LocalBitcoin. Monthly minimum wage now under 23 USD.

Hi guys, as you know Venezuelan “living” here.

Just keeping the tradition of posting these stats.

We see 2 BTC increase from last week, we are stable around 140-150 BTC monthly, better than months ago (we were at 100 BTC).

I use as reference LocalBitcoin because it’s the only one that publishes all weeks the stats, CoinDance takes that info and put in nice graphs per country https://coin.dance/volume/localbitcoins/VED/BTC

We reached almost 2,500 BTC in one week in 2019.

Then it comes to CEX, Binance is king, no doubt! But no public stats. Binance allows even purchasing crypto with Bolivares (Bs.) using P2P.

Others used are AirTM and Reserve.

One BTC is around 150,000 Bs.

Average wage is around 100 USD monthly, not enough to live you need around 500 USD for a 5 members family just for food!

People use crypto to get rid of Bolivares and escape inflation (has slowed down a little now, from more than 1,000% monthly to 10-15% monthly), also to receive money from abroad (remitances), exchange their mining profit (mining here in theory is legal, but not safe anyway, electricity is free but unreliable), here mining even with old S9 and GPU will be profitable. GPU mining ANY coin.

Any question, let me know!

Some sources,

https://www.caracaschronicles.com/2022/04/21/is-venezuela-doing-better/

https://www.caracaschronicles.com/2022/04/20/the-bizarre-figures-of-venezuelas-economic-recovery/

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

https://coin.dance/volume/localbitcoins/VED

https://www.caracaschronicles.com/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/

https://localbitcoins.com/country/VE

https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/