26 BTC were traded last week in Venezuela! (Only measured using LocalBitcoin), same than last week. One BTC is around 170,000 "new" Bolivares (Bs.) that would have been 170,000,000,000 "old" Bs. back in October! Monthly minimum wage still is 2 USD.

Hi guys, I'm Venezuelan and live here in the country, crypto enthusiast!

I have been posting these updates for more than 3 years, way before moons. Hope I don't anoy you.

This measurement I take is only with LocalBitcoin, which is still very popular and used here. There you can purchase BTC with Bolivares (Venezuelan currency, Bs.) and sell BTC for Bolivares. But LocalBitcoin is not that used anymore, the king of the exchanges here is Binance. Reserve, AirTM and others are used too. Monthly average is around 100BTC traded, years ago it was over 2,000 BTC monthly!

Other exchanges don't make public the stats (I wish Binance would do it at least)

Exchange rate is 1 USD = 4.5 Bs. (would have been 4,500,000 "old" Bs. pre2021)

• This is the third time zeroes are removed. First was in 2008 where 3 zeroes were removed, then 5 zeroes in 2018 and now 6 zeroes in 2021. 1"current" Bs. would be 100,000,000,000,000 "pre2008" Bs.
• Yes, it is true! Monthly minimum wage is 2 USD that is for public workers and they receive some kind of incentives (a monthly box of food that is around 20 USD), you cannot live with that. If that is you only income, you died years ago starving or your family is helping inside Venezuela or from abroad or you have another job or you left the country (even walking).
• Some NGO say around 500 USD monthly are needed for a 5 members family to "live" https://www.caracaschronicles.com/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/
• Average monthly wage is around 80 USD (Monthly). A Manager is around 210 USD (monthly). https://talcualdigital-com.translate.goog/ovf-salario-promedio-del-sector-comercio-subio-un-71-a-892-durante-2021/?_x_tr_sl=es&_x_tr_tl=en&_x_tr_hl=en-US&_x_tr_pto=wapp
• There are in fact so many places (department stores, big ones like Traki, Biomercados) where you can pay directly with crypto. People always use stablecoins like "USDT" (what a fear), USDC, BUSD, AirUSD and so on.
• 2021 inflation was around 700%, way lower than 2018' more than 1,000,000%.
• I always try to get some works here (like translations) and even moons are part of my income (waiting some liquidity in the exchange to cash out).