Venezuela is a country that continues to accelerate its growth in the cryptographic environment on a day-to-day basis, this nation, despite the social, political, and economic circumstances it has gone through and continues to experience this tense environment, has decided to implement cryptocurrencies in your economy fully. Also, you can utilize tax tips for Bitcoin traders and investors.
So much is its eagerness and dedication to achieve economic stability, which is extremely necessary for all the inhabitants, that the government had been studying the creation of its cryptocurrency for some years.
The Petro is the cryptocurrency that Venezuela created and implemented to give relief to the economic crisis it is going through.
This cryptocurrency is backed by the largest oil reserve in the world.
Due to the significant falls in crude oil values in international markets due to disagreements in OPEC, Petro has not achieved a good revaluation and provided the expected benefits.
New technologies in cryptocurrencies arrive in Venezuela
Currently, bitcoin is the cryptocurrency with the most significant acceptance and implementation in electronic commerce worldwide; due to this, the need has arisen to implement ATMs that can dispense cash then make changes for bitcoin.
Venezuela could not be the exception since two new specialized and automatic teller machines arrived that allows you to acquire bitcoin with dollars in cash.
These teams have already been installed in Caracas, the capital of this country. These ATMs are owned by the Cryptobuyer Company, which also provides various private businesses with a payment network that offers the possibility of continuously making purchases with cryptocurrencies.
This implementation was made public via the company’s podcast. The CEO of Cryptobuyer, Jorge Farías, explained that only two machines were installed to make bitcoin purchases during this test period.
One of these ATMs is located in Las Mercedes in a bodegón, this being one of the most commercial and distinguished areas of eastern Caracas, and the other ATM is located in one of the branches of La Trinidad del Excelsior Gama, a chain of supermarkets that allow payments in bitcoin and other cryptocurrencies through the Cryptobuyer network.
Other ATMS and payment options with bitcoin in venezuela
The Cryptobuyer ATMs that have been installed join other devices already installed and available in the capital of this country.
These Crypto ATMs are located in the Traki city stores, one of the countries largest and most significant retail franchises. In addition, in 2019, an ATM had already been implemented, as reported by the crypto news channel.
Every day there are many possibilities available to Venezuelans to use and operate with bitcoin and many other virtual currencies.
This news is delightful since apart from the implementation of ATMs, many businesses have adopted these digital currencies as payment and commercial exchange.
During the past year, this was a very prominent aspect in the Venezuelan market, where in addition to the shops mentioned above and supermarkets, others such as Rattan and Sigo, located on the island of Margarita, a commercial space very preferred by tourists, are added.
This implementation increased disproportionately due to an agreement between Cryptobuyer and Mega Soft, the most important provider of points of sale in this South American country. This agreement between both organizations allows approximately more than 20 thousand businesses to have the possibility of accepting payments with bitcoin and many other cryptocurrencies.
In a short time after its implementation, at least 500 points of sale were already reported where some transactions with cryptocurrencies had been carried out.
This new strategy benefits the widespread trade of the Venezuelan capital since most people today handle cryptocurrencies, especially some Petros, which were assigned by the government as remuneration to pensioners and retirees, and public officials as an incentive for the Christmas holidays.
In addition to Petros, there are many more cryptocurrencies handled in Venezuela, such as bitcoin, Ethereum, Dogecoin, and others.
Cryptocurrencies have been a boom since the vast majority of the population has become interested in this digital world.
The cryptographic environment represents an investment possibility, which generates excellent profitability and economic development for those most excluded from the benefits of economic and social growth in the country.
The economy’s future lies in digital currencies in Venezuela and worldwide; most businesses and establishments are adopting and implementing this new form of exchange and virtual commerce.