Financial Education - Diversity of digital assets accepted as payment methods

As I mentioned in the lines uploaded yesterday, in Venezuela the digital Bolivar, Pesos, Euros and Dollars are accepted, which require the registration of a daily exchange rate given by the Central Bank of Venezuela, in order to evaluate the real value of the income. The digital Bolivar is the monetary scale exchange rate, which is supported by the deepening and development of the digital economy in Venezuela.

The reference exchange rate will continue to be the one determined by the Venezuelan exchange market system and will continue to be calculated based on the foreign currency purchase and sale transactions carried out by individuals and companies, through the exchange desks of banking entities.

For example, in Venezuela, Pay-Pal payments are accepted, but in order to use PayPal, you must associate a payment method to your account, such as a credit card that allows international payments. You can associate several cards to your account and choose which one you want to use when paying.

Payments are also accepted in Bitcoin, which is considered a virtual currency or a means of electronic exchange used to purchase products and services like any other currency. But this currency is decentralized, i.e. there is no authority or control entity responsible for its issuance and registration of its movements. It consists of a cryptographic key that is associated to a virtual wallet, which deducts and receives payments.

And not less important, payments are also accepted in Zelle, which is an electronic payment platform that allows making money transfers, in dollars, between users who have different bank accounts in the United States.