Cryptocurrencies in Venezuela are becoming more popular.
The increase in the use of cryptocurrencies in Venezuela is multifactorial and responds to the economic and social reality of the South American country.
Hyperinflation and the collapse of the fiat currency (Venezuelan bolívar) have eroded the purchasing power of citizens, leading them to seek alternatives to protect their assets.
Cryptocurrencies like Bitcoin $BTC and stablecoins like $USDC offer greater stability as a store of value compared to the local currency, making them attractive for savings and transactions.
In Venezuela, cryptocurrencies enable peer-to-peer cross-border transfers, constituting an essential means for remittances sent by family members from abroad.
