Binance is not new in #venezuela but in the last year it has been having a surprising impact, obviously due to the scarcity of $ in the country, as usdt are often seen as digital $. Most individuals and businesses in the country already accept payments with Binance, which on one hand can be good since the biggest problem with using bs is that they devalue day by day, and the merchant has a better margin to repurchase merchandise and restock their business.
But the biggest problem I see is that at the time of making purchases in any business or individual, it is not clear what the value of a usdt is, there is no fixed rate, this can represent a problem since sometimes it is better to sell your usdt on the p2p market and pay in bs. For example, a product that costs 100$ and the business accepts the dollar at 250 bs, it is better to sell usdt and pay with bs since if we pay with usdt that are currently averaging 305 bs at the exchange rate, we would be losing about 5000bs, which we could use for any everyday purchase since it is a little more than 20$ at bcv. On the other hand, if the same product of 100$ has a discount when paying with usdt, it depends on how much it is whether it would be worth paying in usdt.
The conflict for Venezuelans to adopt Binance better is that the salary cannot match the p2p market and there is also a lot of lack of knowledge in the country. For example, if a person receives 10$ at bcv and goes to exchange them in the p2p market, they would receive more or less 7.2$, and this affects a lot of people since they think they are losing money, and sometimes it is not a lack of knowledge but simple fear. How many of us check every half hour how the market is doing, since cryptocurrencies and trading often tend to play with our minds, and at the moment we do not stay firm in the face of a drop or a profit-taking, that is when we can lose a lot of money.
How do you prefer to pay businesses and individuals? I read you.
