Bitcoin hasn’t always had an easy time in Venezuela. The government has consistently arrested suspected bitcoin miners and the banking industry forced the country’s former leading exchange, SurBitcoin, to suspend fiat deposits or withdrawals.
But in a country with rampant inflation, reaching a staggering 800% in 2016, surely bitcoin can provide some of the answers rather than be looked at as a problem to Venezuela’s ongoing crisis. As bitcoin doesn’t suffer from inflation in the same way that fiat currency’s do, it makes perfect sense to Venezuelans looking for a way to store their hard earned money without the risk of it just evaporating away.
Read more here: https://news.bitcoin.com/venezuela-launches-first-regulated-bitcoin-exchange-monkeycoin-draglet/