Quote from: joelsamuya on September 03, 2019, 07:32:39 AM

Quote from: Mantas_IUNGO on September 03, 2019, 06:01:05 AM

With the continuing hyperinflation and the seemingly non-stop going down of the Venezuelan economy, locals turn to Bitcoin trading for sustenance and wealth building opportunity.

There is the growing interest for Bitcoin with some people in Venezuela because their economy right now is experiencing some huge challenges that are needing some critical fixing. Of course, not all people have access to cryptocurrency and not all have the money in the first place to buy the digital assets they desire. But to those who have the money and the access, buying cryptocurrency can be a good option for them especially under this distressful situation the country is in.

Most of the countries that gets affected by the inflation were upon the lack of governance or the improper governing. This way bitcoin cannot easily rectify the financial issue that is prevailing in Venezuela, because even the bitcoin usage will not be channeled through the proper infrastructure. This will cause more bad effects than good on the economy. It takes years for such recovery of the economic downfall.