Only 83 BTC were traded last week in Venezuela using LocalBitcoin (lowest since July 2016). That amount was 7,299,000,000,000 Bs. (Venezuelan currency). Right now one BTC reached 84,000,000,000 Bs. Monthly minimim wage at 1.25 USD.

Hi guys happy hodling and trading! Hope you are doing ok.

As I always explain, I'm a Venezuelan "living" here.

Lower volume in BTC but still around 5-6 million USD weekly, that is way, it is constant in USD not BTC. So many years since we are under 100 BTC weekly, I think some people that use LocalBitcoin are moving to Binance, that is just my explanation without any proof.

People that usually trade are mostly miners, people sending remittances and store owners getting rid of their bolivares and even the goverment/military as well. Considering the low minimum wage, forget that people using crypto, it is impossible for them.

If you want to know something ask me anything. Here the economy is a mess, so many poor people and a lot of people surviving! I have gotten even puntual work from some redditors since I started posting here, what a great community.

And MOONS (cryptocurrency subreddit), wow, have helped me a lot (Sadly I have to cash out).

Sources:

https://www.usefultulips.org/combined_VES_Page.html

https://www.caracaschronicles.com/

https://coin.dance/volume/localbitcoins/VES/BTC

https://localbitcoins.com/buy-bitcoins-online/ves/

submitted by /u/WorkingLime
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