Can i buy bitcoins in bolivars from venezuela

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Venezuelans on the removal of the 100-bolivar note: ‘thoughtless, dangerous’

At least his visage, painted on 1, bolivars by cryptocurrency-focused artist cryptograffitiwill be. Since Maduro took office inVenezuela has suffered drastic inflation, starvation and socio-economic decline. And in recent months, the situation has worsened. In partnership with AirTM, a Mexico-based digital wallet and peer-to-peer exchange platform, and Cripto Conserje, a cryptocurrency-focused merchant services provider, cryptograffiti will watch as his portrait gets torn. For every donation made, a Can i buy bitcoins in bolivars from venezuela at the event will physically remove a bolivar from the mural. Only two pieces of the mural will be saved and signed as donor prizes — one section going to the highest donor and the other being given to a donor drawn at random. The all-day, livestreamed event is part of a larger project, AirdropVenezuelawhich plans to use 50 percent of the donations to send cryptocurrency to more thanVenezuelans in April.

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Amid growing economic chaos, and the highest inflation rate in the world, some Can i buy bitcoins in bolivars from venezuela are swapping bolivars for bitcoins in cxn to buy basic necessities or pay their employees.

This week, Venezuelans rushed to unload bolivar bills — the largest denomination — after frrom government announced that it would be withdrawn from circulation on Wednesday in what it described as a move against profiteering.

Although Bitcoin users still represent a tiny minority, some believe that the currency will become more popular in Venezuela as economic uncertainty escalates. Unlike other online payments, the peer-to-peer currency does not require any third party to buy, sell or send. Venezuelans only need a phone, computer or on an online wallet service to store bitcoins which they can venezue,a at the black-market dollar exchange rate — almost five times the official exchange rate.

There are no official statistics on the number of bitcoin users in the country, but according to the brokerage website Surbitcoin. Farias said that some use the currency to by food or medicine, while Venezuelans abroad use it to send funds to their families. Some use bitcoins to buy Amazon gift cards, then order goods and food on the online store in the US and other countries, which can then be delivered by courier to Venezuela — where booivars shelves are frequently.

Can i buy bitcoins in bolivars from venezuela use the currency as safe haven for their savings. One bitcoin is now worth less than 2m bolivars at the time of writing, according to Surbitcoin.

Farias says that many Venezuelan tech workers volivars freelance for companies elsewhere prefer to be paid in bitcoin. To buy bolivars with bitcoins, people either use peer-to-peer service, like LocalBitcoins, to trade in person. They can also use an exchange brokerage, such as where they can convert their bitcoins into bolivars and vice versa.

He sells bitcoins to a friend in Colombia who buys cancer treatment and medical supplies when he comes to visit. But, fearful of potential retribution from the government, most Bitcoin users in Venezuela keep a low profile, restricting their discussions of currency to encrypted communications apps such boliavrs Telegram.

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Venezuelans rush to ditch 100-bolivar bills after president’s sudden ban

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