Use of foreign currencies and cryptoassets

3개월 전

In countries such as Venezuela, the use of foreign currencies such as the dollar, Euro, Colombian Pesos and cryptocurrencies is handled unofficially, but nevertheless, 67% of commercial transactions in the 10 main cities of the country are carried out with a currency other than the bolivar; which implies an increase of 27 percentage points with the first study of this type.

Source ( Bullfrag )

On the other hand, in 5% of the operations the Colombian peso is used, 2% of the operations use euros and in 1.9% of the cases for the operations cryptocurrencies are used.

On the other hand, among the conclusions of the study it stands out that in the border city 98% of the commercial transactions were paid with a currency other than the bolivar.

In view of the above, foreign currencies such as the dollar, euro, pesos and cryptocurrencies are accepted as a form of payment in Venezuela. It is important to note that the value of the main foreign currencies is recognized by means of an official reference value and a parallel one.

Source ( Venezuelanalysis )

Among the main cryptoassets used in the country are: Petros, Pay pal, Bitcoin, Zelle. The sovereign cryptoasset "Petro" is the first cryptocurrency issued by a State and backed with its natural resources, whose main purpose of creation was the reactivation of the national economy.

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Hello @alaisa
The truth is that seems to be quite difficult, because in general only one currency is handled in most countries.
Because the detail is that it can lend itself to abuse with prices. But it is a reality.


It is reasonable what you say about abusing with prices, it is even a prevailing reality. Thank you @josevas217 for leaving your comment.

Hi @alaiza.

This is the reality that we live in our country, with an economy of multiple currencies, such as the Bolivar, dollars, Colombian pesos and cryptocurrencies, are the most widely circulating, so we have an economy that crosses borders and is far away from the conventional.


It breaks any scheme of conventional economics, but in some ways it is a healthy thing that prepares us to face the future. Thanks @chucho27 for leaving your comment.