As in the last months I have dedicated at least one day of each week to exclusively use cryptocurrencies. Usually for this I dedicate the Saturday days of each week to buy food for my family, some medicines and hygiene and grooming products in addition to some clothing, all purchased with cryptocurrencies given the ease for this type of trade that exists in Venezuela and the power of content monetization in Hive and Leofinance .
Venezuela is known for the horrible hyperinflation suffered by its local currency, which is constantly devalued against the dollar and all products and services sold in the country, however, it is also noteworthy the great adoption of cryptocurrencies of the Venezuelan people, largely to the ease of trade in this matter offered by those responsible for the project called Dash, whose cryptocurrency is the most used in that territory of the geography of South America.
By observing Discover Dash, a directory where all the businesses that accept payments with the Dash cryptocurrency are exposed, at least more than 800 businesses located in Venezuelan territory accept this crypto among their forms of payment. This project has provided Venezuelans with an important alternative to face the crisis of their fiat model and the social earthquake it leaves behind.
Large international chains such as Burger King or Church Chiken accept Dash as a means of payment, as well as some department stores, pharmacies, luxury hotels and hundreds of small establishments include Dash as a payment mechanism. On the other hand, thousands of street vendors or independent sellers use text message payment services, a method that has massified the use of this cryptocurrency among the most humble Venezuelans.
This growth of Dash users in Venezuela is a product of the commercial use of this cryptocurrency in the country, placing this South American nation at the forefront of this project in the world. According to BeInCrypto, by December 2020, Dash presented a total of 50,336 active wallets (this is called the wallets that has been online or running the last 30 days). This number represents a 562% increase among the metrics presented in 2019, which is expected to be a higher number for the current year.
Most of these active wallets are the product of the high commercial activity registered by Dash in Venezuela, which makes it the country that has reflected the most progress in terms of the adoption of cryptocurrencies due to the complete ecosystem that the country has, since it is possible to pay, sell or buy this type of digital currencies in ATMs; on the other hand, the Dash community is very committed to teaching the use of this cryptocurrency and all of them in general among Venezuelans.
Undoubtedly Venezuela step by step is becoming a role model in the adoption of cryptos by a society, for now Dash has invested time, effort and money in this country product of the need to transform the economic life of an increasingly crypto-adapted society. Dash's success will surely be followed by other important projects that will be directed to this South American country to grow its cryptos thinking in the high adoption of its society to this economic model.
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Its really an eye opener that currency like dash has invested so much in Venezuela that 800 outlets accept the crypto currency payments. Its really cool to understand so much more about the Venezuelan economy and role of crypto in empowering society.
Yes, there are more than 800 formal businesses that accept this crypto, but they do not count the thousands of people who use this wallet for informal trade, you know, those who have to live on what they manage to sell every time they go out on the street.
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Its amazing that you are able to buy so many daily essential items directly in cryptocurrency.
Are you genuinely able to meet your family's needs for these everyday consumables?
What are the things that you need that you can't pay for in Dash or another crypto?
I wonder that it may be the case that Venezualans may be suffering now but actually will benefit in the future from being early adopters of cryptocurrencies.
I can tell you that 100% of the purchases I make are done directly or indirectly through the use of cryptocurrencies. Despite the large presence of stores that accept this type of money (even the Caracas subway accepts this payment method) some establishments are a little far from my home so I usually change some cryptos to fiat (including Hive) to buy in those stores that have not yet adopted cryptocurrencies.
That said, I make it a religion to use every Saturday of every week for the exclusive use of crypto payments (or collections). That's my no fiat day.
Everything you can think of, even gasoline for the cars you can pay for with cryptos.
Venezuelans are incredibly resilient, in the face of adversity we tend to be quite creative and adaptable, we can not stop, if things go wrong then we take action to improve our situation and cryptos are one of those weapons we have to change our lives.
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That's interesting to learn. I didn't know that DASH was so widely used in Venezuela. What happens in places like Burger King. Are the prices changing constantly or is DASH stable enough that these stores can manage without having to keep changing prices?
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Usually the price is valued in US dollars, in the case you raise (a hamburger at Burger King) costs the same as in the United States and around that the consumer has the option to make the payment in US dollars, bolivars or in cryptos such as Dash if desired. The value of the crypto is indifferent since the item or service to be paid for is always denominated in fiat.
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Ah. That makes sense. Thanks for the extra information. 😊
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