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[NoLimits15]

Venezuela is willing to accept bitcoin as a payment method for issuing passports for its citizens living outside the country. It has difficulty processing credit card payments due to sanctions and cross-border payments were always a problem in the country. This is nothing new as Venezuela is fully supporting the use of cryptocurrencies.

 

[adventurer]

Venezuela is willing to accept bitcoin as a payment method for issuing passports for its citizens living outside the country. It has difficulty processing credit card payments due to sanctions and cross-border payments were always a problem in the country. This is nothing new as Venezuela is fully supporting the use of cryptocurrencies.

I really stand with them in this thing, because their economy system is becoming bery bad and also their money, so going to cryptocurrencies can really help them doing things

 

[Reznov]

that's pretty interesting, so the enthuisiants can be entertained while applying for a visa, that makes dealing with money easier just like using credit cards

 

[Balint098]

Yah, more and more Venezuelan are relying on cryptocurrencies and US Dollar now that their economy collapsing and national currency basically useless.

 

[adventurer]

Yah, more and more Venezuelan are relying on cryptocurrencies and US Dollar now that their economy collapsing and national currency basically useless.

their economy is going worst to worst without any good changes, and I guess cryptocurrency is really a good way for them to start doing things again, buying and selling

 

[Ewogboka]

This is good news to crypto world but if there local currency is useless as said by @Emoney, I fear for the improvement in their economy anytime soon because if they have enough bitcoin and the price eventually fall it gonna be disastrous.

 

[adventurer]

This is good news to crypto world but if there local currency is useless as said by @Emoney, I fear for the improvement in their economy anytime soon because if they have enough bitcoin and the price eventually fall it gonna be disastrous.

yes their ucrrency is useless like only a piece of paper this why they are now using bitcoin, US dollar and other things like switching things like in the past I give you soemthing and you give somthing

 

[Ewogboka]

This damn very very low I just checked that $100 is equivalent to 19291449 Venezuelean Bolivar . They are rebuild the value of their currency before accepting Crypto currency, this will kill their economy over time.

 

[Balint098]

Venezuelans are experiencing hyperinflation. Today the price of one egg is 1 million bolivar, tomorrow the price will goes up to 2 million bolivar. It's hell in there.

 

[adventurer]

Venezuelans are experiencing hyperinflation. Today the price of one egg is 1 million bolivar, tomorrow the price will goes up to 2 million bolivar. It's hell in there.

yeah no one is living a good life there and they are all leaving the country to live in another countries, I think usiong crypto currencies will help them if they have good knowledge

 

[Ewogboka]

Venezuelans are experiencing hyperinflation. Today the price of one egg is 1 million bolivar, tomorrow the price will goes up to 2 million bolivar. It's hell in there.

This is bad , what could be responsible for this hyperinflation?.
I never knew this country is this poor, it will not it traveling to this country to work for money.

 

[Viccar07]

Yes, cryptocurrencies are increasingly used in Venezuela since their local currency (El Bolivar Soberano) is worth less than nothing, they even created their own cryptocurrency although it was a failure like everything related to the Government of that country, but the fact of Being a country that is not regulated at this time by any external body since they do not obey any foreign order makes it insecure to use Bitcoin, such as knowing that the Government will respect the international value of Bitcoin and not only that, how to know if the Government will not expropriate your Bitcoin? And they will say, that cannot be done! If you are physically in Venezuela, if they can force you to make a transaction for all the Bitcoin you have to free yourself, even using the US Dollar in Venezuela right now is a risk for multiple reasons, worse something so valuable like Bitcoin.

 

[Ewogboka]

I don't understand your points @Viccar07 , Venezuela has poor value for their local currency as we have all seen , they are wiliing to make use of bitcoin for their transaction not because of the value but it fast transaction in terms of payment of their service, if the government is fine with it the citizens will have to comply but as for US dollar they abuse or under rate it except they don't engage in international trading.

 

[Balint098]

I never knew this country is this poor

The country is not actually poor since Venezuela has one of the biggest oil reserve in the world. But because the government is corrupt and sanctions and embargoes from various countries, their country turned to ruins.

 

[Wisdom01]

This is good news to crypto world but if there local currency is useless as said by @Emoney, I fear for the improvement in their economy anytime soon because if they have enough bitcoin and the price eventually fall it gonna be disastrous.

G

 

[Wisdom01]

This is good news to crypto world but if there local currency is useless as said by @Emoney, I fear for the improvement in their economy anytime son because if they have enough bitcoin and the price eventually fall it gonna be disastrous.

Hmm this is very bad , I think they should dive into the use of crypto and not only bitcoin since their currency isn't having worth

 

[Brain]

Good for them and it might not be anything new for them since they have been supporting crypto for a while now. It is just payment being made easy

 

[Balint098]

Not sure about that. Having a dictatorship country adopting crypto is not exactly a good good press for crypto overall. I do hope things can improve there.

 

[Josemendez]

Venezuela is willing to accept bitcoin as a payment method for issuing passports for its citizens living outside the country. It has difficulty processing credit card payments due to sanctions and cross-border payments were always a problem in the country. This is nothing new as Venezuela is fully supporting the use of cryptocurrencies.

You said it all , Venezuela have always shown their support towards bitcoin in many ways , I believe the inability for the credit card payment was a blessing in disguise for cryptocurrency lovers of Venezuela

 

[Ewogboka]

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