CryptoTimes in Venezuela

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As you might know, Venezuela is a country with high inflation rates issues. Therefore, you can imagine how cryptocurrency is a valuable resource for those who don't want to get mixed with the national financial system. Using cryptocurrency is not only a matter of remittance but also a tool for protecting assets from inflation, such as wages, or helping companies dealing with cash flow in such hard times.

Given these circumstances, Venezuela is one of the leading countries that use cryptocurrency for receiving money from abroad or as a way of keeping their money safe against inflation high rates.

Even though there is this huge interest in escaping hyperinflation, the Venezuelan society still has to subsist and it had to replace money with other useful things, such as toilet rolls, sweets, or bread.

The habitants of the country had also the occasion to engage in cryptocurrency mining, though it is a centralized option, closely monitored by the authorities. Moreover, Venezuelan people launched their own crypto coin, ''Petro'', which was unfortunately considered by some voices a failure.

I am not a Venezuelan but I am quite sad about the general situation of this country. I do cross my fingers for all Venezuelan people in Hive and out there to have better incomes and quality of life.

Thank You for reading this post!

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