Cryptocurrency More Than a Bolivar Hedge, It’s a Way to Survive in Venezuela

Dash, a portmanteau of Digital Cash, has in many instances for the public in Venezuela become a way in which to negotiate their economic standings in the South American country, which is under tremendous civil unrest, because of its cash-like nature.

It is not only the fact that the native fiat currency, the Bolivar, has hyperinflated to a point where it is virtually useless, but it is also the financial limitations imposed by the government and its central bank which has seen a migration towards the cryptocurrencies such as Dash and Bitcoin.

Taylor admits that there are use cases where people have invested in Bitcoin to try and preserve the value of their money, utilizing the major cryptocurrency as a store of value. But it is Dash’s adoption and quick, cheap transactions that are making it an important financial tool in Venezuela.


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