Venezuela’s New Improved Currency: Citizens Prefer To Use Crypto Still

Good day guys, so the adrenaline from Hive’s price approaching $1 is finally wearing off. I’m beginning to feel normal again as we are getting used to seeing Hive above the $0.99 price. We hope the price remains above that and keep soaring higher.

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All thanks to cryptocurrency, the financially aware individuals now know their worth. Just few days ago I blogged about how the Nigerian government is introducing CBDC(Central Bank Digital Currency) but the youths and crypto users don’t care and don’t want to use it. We are seeing the same case with the Venezuelans. The Venezuelan currency has seen a great spike in inflation causing their currency to be almost completely worthless. You can imagine what happens when your currency is worthless and that’s what you have been using to store your wealth. This act will automatically impoverish you. Most of the Venezuelans had to look for another means to store their wealth and guess who came to the rescue.

You got it right, crypto. The financial Kal El(Superman).

Well the country has been looking for a way to cut down this inflation and the government came up with a currency that cuts down some few zeros with a new paper bill. You actually don’t expect the citizens to trust their country’s currency anymore after what it has become and after getting benefits from cryptocurrency.

You don’t give a child salt,pushing the child to crave sugar as an alternative then try to convince the child you will give it lesser salt if they come close to you this time.

The citizens have tasted the sweet part of cryptocurrency and are not willing to go back to the government’s currency because they claim they have cut down some few zeros. Nobody is that dumb and naive. As a matter of fact this is not the first time the country is cutting down zeros from their currency. All these because of inflation, causing the citizens turn to dollars as an unofficial currency. The people are not always going to be waiting for the country to keep cutting down some few zeros every time. They need hope and something they can trust and they have found financial solitude with cryptocurrencies. So it’s hard for them to depart from that.

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Imagine making $10,000 from your business, then fall for the words of the government, convert your money to the local currency and one year later your money is worth $50. This just shows that cryptocurrency keeps making the government and fiat look dumber every day.

All thanks to Satoshi Nakamuto, thanks buddy you saw way ahead the future.

The government can’t do anything about it, I feel when more people in different countries start making this decision, cryptocurrency will be adopted globally officially. We will see a global scale adoption soon.

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