#noticias About six years ago, Venezuelans found in cryptocurrencies a refuge to weather the economic crisis. The local currency, the bolivar, lost its value against other currencies, and people began to prefer using dollars or cryptocurrencies such as Bitcoin or Ethereum. The latter offered an option to circumvent the restrictions of Venezuelan banking, affected by international sanctions. However, the volatility of crypto assets was a risk. Despite this, many Venezuelans used these digital currencies to send money to their relatives in the country. In 2021, a Bitcoin cost around $40,000, and users could acquire fractions to make it more affordable. Although cryptocurrencies offered a practical and useful alternative, the current situation in Venezuela has changed. The country faces severe restrictions on cryptocurrencies, including a complete ban on mining. In addition, more than 75,000 people who made a living from cryptocurrency mining have had to stop their operations.

Although cryptocurrencies still offer greater stability than the bolivar, their future in the country is yet to be decided📰🇻🇪.