We are still going strong during this worldwide crisis. we are in total quarantine since two weeks. banks are closed and ATM only give less than 1 USD per day, so bolivares in CASH is a no go.
These volumes are only measured using Localbitcoin (LBTC) using their API (Coindance). Big part of that exchange come from Venezuelans that live abroad and send money to their families, miners, people that get paid in cryptos (freelancing) and even the own government. It is around 2000 BTC per month.
Other exchanges and other trades were done, but no way of measure them.
Today exchange rate is around 1 USD = 90,000 Bs. (Official rate is almost the same)
Minimum wage (which is earned by a big chuck of the population, not like other countries) is 250,000 Bs. wage (less than 3 USD) + 200,000 Bs. food bonus (around 2 USD) PER MONTH.
Biggest bank note is 50,000 Bs. which is around 0.60 USD. You need to use debit and credit, bank transfer, cryptos and USD to pay anything.
Here in Venezuela situation is really hard, some people dont believe that amount is the minimum MONTHLY wage. I work and earn more than that (anyway, the amount is really low, I'm sure with that amount I would be living homeless in Colombia, Peru or Panama for example), usually get some donations from redditors and do some freelancing work (translating mostly) and it is really hard to keep up daily.
AMA Ask Me Anything
Sources:
https://coin.dance/volume/localbitcoins/VES/BTC
https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/
Submitted April 03, 2020 at 01:02AM by WorkingLime https://bit.ly/2w9ENOc
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