🇻🇪 Venezuela Turns to Crypto Amid Bolívar Collapse 💸✨
Venezuelans are increasingly using crypto to protect their savings as the bolívar plunges. From corner shops to big retailers, digital assets like USDT are now accepted for payments—even salaries! 🛒💰
According to the Chainalysis 2024 Crypto Adoption Index, Venezuela ranked 13th globally, with crypto usage up 110% in just one year.
Economist Aarón Olmos explains that inflation, low wages, and limited banking access have pushed citizens toward digital currencies. Despite US sanctions and connectivity hurdles, the ecosystem keeps growing.
Crypto remittances have also become a lifeline, accounting for $461M in 2023—9% of total remittances sent home. Families are now favoring crypto over traditional services like Western Union due to high fees and delays.
Even amid geopolitical tensions, Venezuelans’ adoption of crypto shows resilience, proving digital assets are becoming core to everyday life in the country. 🌎💎
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