Around 39 BTC were traded last week in Venezuela ONLY using LocalBitcoin. Other exchanges are growing like Binance, Reserve and AirTM (all of these lets you change Bolivares to crypto). One BTC is 275,000 Bs (Was 270,000,000,000 Bs. one month ago). Monthl

Updating this week numbers, Venezuelan "living" here.

After the goverment removed six zeroes from the currency, the pages I use to track the weekly volume traded in LocalBitcoin went nuts, they just didn't update. LocalBitcoin created a "new" trading page from Venezuela.

Old one: https://localbitcoins.com/buy-bitcoins-online/ves/

New one: https://localbitcoins.com/country/VE

Also CoinDance shows off numbers

https://coin.dance/volume/localbitcoins/VES (I already wrote them an email, no reply after one week if someone can find a way of contacting them)

The 39 BTC number I got is assuming they have a problem with the zeros removal (6) that happened in October. Hope they solve it soon. I might be wrong, but considering historical averages I think that number is ok (one zero less would be 390BTC which is crazy and one zero more would be 3 BTC with is so low!)

Some remarks:

• Yes, monthly minimum wage is 10 Bs. (around 2.2 USD monthy)
• Average wage is around 80 USD monthly.
• Binance is king when it comes to usage here, they have invested a lot of money in marketing and have chance to exchange directly Bolivares to crypto (P2P).
• According to some NGO a 5 members family needs around 500 USD monthly to live.
• Crypto is used here, some places you can pay directly with crypto like Traki and Biomercados. A big undeground minning comunity is working all day, considering the free electricity (but unrealiable), crypto is also used to send remittances from relatives abroad to here in Venezuela and in general society is very open to this, even when some people like "stablecoins" like USDT (what a risk), USDC and BUSD.

Any question, let me know! Happy to answer.

Some sources:

https://www.caracaschronicles.com/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/

https://www.bloomberg.com/news/articles/2021-07-01/venezuela-to-cut-six-zeroes-off-bolivar-to-simplify-transactions

https://translate.google.com/translate?sl=es&tl=en&u=https://www.descifrado.com/2021/04/13/ovf-el-460-de-las-remuneraciones-del-sector-privado-se-pagan-en-dolares/

https://www.caracaschronicles.com/

https://coin.dance/volume/localbitcoins/VES/BTC (this hasn't been updated with the new Bolivares)

https://localbitcoins.com/country/VE

https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/