How Crypto Charities and Businesses are Helping Venezuelans Beat Hyperinflation
▻https://hackernoon.com/how-crypto-charities-and-businesses-are-helping-venezuelans-beat-hyperin
Demand for #bitcoin continues to rise in Venezuela, with trading volumes in October 2018 reaching a record high of 853 million bolivars. This trend isn’t new; Bitcoin trading in the Latin American country has been steadily growing since mid-2017. Cryptocurrency exchanges like CoinCola provide a fast and secure way for local citizens to buy Bitcoin, Dash and other altcoins.What has caused this surge in crypto trading? The Venezuelan economy has been severely impacted by the bolivar’s drastic inflation, which the IMF estimates may reach a million percent by the end of 2018. With many Venezuelans now unable to afford food and medicine, local citizens are looking for an alternative means of exchange. Cryptocurrencies offer a relatively more stable store of value and provide a more efficient (...)