I am a Venezuelan, living in Venezuela and I would like to give you my perspective from the situation with Dash here. It is true that Dash was quite relevant a few years ago when inflation was rampant and cost of goods could double in a week, but unfortunately for Dash holders and investors here in this country Dash has been mostly displaced by USDT (Tron) and the payment system implemented by Binance (Binance Pay).
Since opening an account on Binance is relatively easy, what people do is use USDT and do not get exposition to the market fluctuations. Most people here do not want to speculate anyways, they want to save and guard their money against devaluation.
So, in my opinion, Dash has currently lost most of its market here in favor of a centralized solution which is Binance.
Since opening an account on Binance is relatively easy, what people do is use USDT and do not get exposition to the market fluctuations. Most people here do not want to speculate anyways, they want to save and guard their money against devaluation.
So, in my opinion, Dash has currently lost most of its market here in favor of a centralized solution which is Binance.
Thank you for sharing your perspective on the situation with Dash in Venezuela. It's incredibly insightful to hear directly from someone experiencing these shifts on the ground.
As you explained, Dash once had a strong presence during the height of hyperinflation due to its utility in a rapidly devaluing economy. However, it seems the emergence of stablecoins like USDT, alongside user-friendly centralized payment systems such as Binance Pay, has significantly displaced Dash’s role. Given the strong preference for avoiding market volatility, it’s understandable why stablecoins backed by platforms like Binance have become the choice for most Venezuelans seeking stability and ease of use—especially when the process of opening a Binance account is straightforward.
Your observation highlights how necessity drives innovation and adoption in economies like Venezuela. Dash's decline in relevance appears to align with the local demand for currency stability and convenient saving mechanisms, which more centralized solutions seem to be addressing for now. Thank you again for shedding light on this shift—it’s valuable context for anyone looking to understand the dynamics of cryptocurrency adoption in Venezuela!
