Auto Added by WPeMatico
In order to combat the coronavirus outbreak in Venezuela, President Nicolás Maduro has ordered the entire country to quarantine themselves. With an inflation rate that rises more than 10,000% per year, the country’s citizens have already been dealing with economic turmoil. Maduro has also shut down the national banking system and regional authorities banned gasoline […]
The post Maduro Orders Venezuelan Bank Closures Amid Coronavirus Scare appeared first on Bitcoin News.
Powered by WPeMatico
There’s a small team of committed researchers and activists called the Ryver Bitcoin Cash group surveying Venezuelans, and giving them educational resources about the benefits of bitcoin cash. The Venezuelan country has been suffering from rapid inflation and many people distrust the sovereign bolivar. Unfortunately, most Venezuelans are not getting any exposure to digital currency […]
The post Distrust of the Bolivar Prompts Venezuelans to Seek Sound Money appeared first on Bitcoin News.
Powered by WPeMatico
Venezuelans are used to their currency costing less than the paper it’s printed on. Economic misfortunes and political upheaval place their country at the bottom of all inflation charts, year after year. The latest incarnation of the national fiat, Bolívar Soberano, has succumbed to the illness of all previous emissions – rapid depreciation. The government […]
The post Venezuela Issues 50,000 Bolivar Bill Amid Persistent Hyperinflation appeared first on Bitcoin News.
Powered by WPeMatico
For a while now people were skeptical about the Petro network and questioned whether or not it even existed. Many Venezuelan citizens explained over the last few months that they hadn’t seen the new asset being used in the wild. However, recent reports detail that there are a few new methods available for residents who […]
The post Maduro’s Petro Becomes More Accessible, but Scrutinized by Venezuelans appeared first on Bitcoin News.
Powered by WPeMatico
Several markets have seen spikes in peer-to-peer (P2P) volume, with the Kazakh and Singaporean Localbitcoins markets posting their second strongest weeks on record. Polish P2P trade also increased this past week, with volume reaching a 14-month high. Also Read: Leaked Documents Suggest Mt. Gox Trustee’s Bitcoin Sales Impacted Market Prices Singaporean P2P Trade Sees Spike The […]
The post Singaporean and Eastern European P2P Markets Post Record BTC Volume appeared first on Bitcoin News.
Powered by WPeMatico
In the midst of a severe economic depression and the devaluation of the Venezuelan bolívar, bitcoin cash (BCH) supporters have been teaching people about the benefits of using permissionless cryptocurrencies throughout the country. The BCH meetup in Venezuela has swelled to 349 registered participants and group coordinator Lizbeth Alviarez has recently detailed that dedicated members […]
The post Venezuelan BCH Proponents Bolster Cryptocurrency Use Cases and Adoption appeared first on Bitcoin News.
Powered by WPeMatico
An Indian cryptocurrency exchange, which is now live in 45 countries, reports that it is “seeing immense enthusiasm and buyer activity in Venezuela,” a spokesperson for the exchange told news.Bitcoin.com. Compared to other countries, “Venezuelans are looking more at the longer-term yield of bitcoin.” Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive […]
The post Indian Cryptocurrency Exchange in 45 Countries Sees Strong Demand in Venezuela appeared first on Bitcoin News.
Powered by WPeMatico
Venezuelan authorities have found another way to impose the adoption of the state-issued cryptocurrency, the petro. Citizens will soon have to pay with the government-controlled digital coin if they want to obtain a travel document. Hundreds of Venezuelans are leaving the crisis-hit country every day. Also read: New Stablecoins: From Cryptopound and Metal-Backed Swiss Coin […]
The post Venezuela Demands Citizens Pay for Passports With Petro appeared first on Bitcoin News.
Powered by WPeMatico
Venezuela’s president Nicolas Maduro has made several claims regarding his country’s digital currency this week. He announced the launch of the petro as a national currency on Monday, reportedly claiming that it is already “present in the world’s six topmost international exchange houses.” A new whitepaper has also been published showing that the petro is […]
The post Venezuela Makes Petro Crypto a National Currency, Publishes New Whitepaper appeared first on Bitcoin News.
Powered by WPeMatico
Financially troubled Venezuela, which is introducing the new, denominated, crypto-anchored “sovereign bolivar” this week, is also the birthplace of a number of alternative coins beside the state-issued, oil-backed national cryptocurrency, El Petro. Crisis-hit Venezuelans are actually using some of them in real life, according to the local crypto community. Also read: Coinhive Mints Quarter […]
The post A Look at Venezuela’s Other Cryptocurrencies, While the Petro Takes Center Stage appeared first on Bitcoin News.
Powered by WPeMatico