Venezuelan Cryptobuyer Brokerage Sees ‘Soaring Demand’

Venezuela is in economic turmoil, shaking the country to its core. Venezuelan digital asset brokerage Cryptobuyer believes the country’s situation warrants a broadening in currency options for citizens. To cater to this perceived need, the firm enables Venezuelans to purchase bitcoin — and recently Dash.

Also read: Jaxx Wallet Now Stores DASH, Advanced Features Coming

Cryptobuyer Offers Bitcoin Dash to Venezuelan Citizens

CryptobuyerCryptobuyer, a Caracas, Venezuela-based cryptocurrency brokerage, has revealed the addition of Dash to their cryptocurrency initiative. The firm believes adding Dash to the equation will benefit thousands of Venezuelan citizens suffering from a failing economy.

Reports have shown that Venezuela has been suffering from massive food shortages, inflation, and power outages due to the failed economic policies of its socialist government.

By partnering with the Dash community, Cryptobuyer will enable more efficient remittance solutions with bitcoin and Dash. This includes everyday transactions, mobile phone top-up, and recharge services for prepaid cards.

The company says since the economy started getting really turbulent — with the Bolivar dropping against the US dollar 40 percent in just one year — it has seen “soaring demand” for cryptocurrencies.

CEO of Cryptobuyer Jorge Farias details:

Cryptobuyer is a cryptocurrency and digital assets connector for companies and individuals that brings a range of services that will improve Venezuelans’ financial liberty. Our partnership with Dash is valuable, especially for customers using unstable fiat currencies, and the perfect example can be found in Venezuela right now. Alternatives for accessing money without traditional banks are gaining traction fast, and we are incredibly confident that Dash will flourish in this economy. From a phone credit recharge for a friend to the payment of credit cards and TV subscriptions, Cryptobuyer makes Bitcoin and Dash a reality in daily life and keeps offering incredible financial benefits without the need for a bank account. 

The currency crisis in Venezuela has brought about long bread lines, and black markets are often the only way of getting food, with government-run stores, such as Mercal and Bicentenario, almost always out of stock.

Cryptobuyer notes that it has successfully accrued thousands of users so far in Venezuela, Brazil, Panama, Chile and Colombia as citizens in these struggling nations search for financial alternatives.

Bitcoin Dash CryptobuyerFor Venezuelans with limited access to Internet or smartphones, Dash and bitcoin are made accessible from Cryptobuyer’s local partner, TigoCTM.

Remittance processors like Moneygram and Western Union closed operations in Venezuela when the government enacted various sanctions against them in 2005, leaving citizens largely cut off from family members providing financial support from abroad.

Now, bitcoin and Dash have arrived to provide what could be life-saving financial solutions.

In hopes of remaining in the government’s good graces, Cryptobuyer is trying to offer its cryptocurrency solution to Venezuelans while remaining within the nation’s legal framework.

Venezuela LocalBitcoins Volume
Venezuelan Bitcoin Industry Is Growing Rapidly, Local Bitcoins Volumes August, 2016

Cryptocurrency Solutions will Be There for Venezuelans to Lean On

Dash VP of Business Development Daniel Diaz thinks Cryptobuyer’s services provide a great advantage for Latin American citizens, saying:

With Venezuelans entrenched in political and economic turmoil, we simply wanted to give them another option to make life easier. Dash is stable, safe and holds its value extremely well. Cryptobuyer will help Dash take a step towards offering real services to regular people that are not just digital currency investors, so it really opens the door for us to fulfill our vision of making a tangible difference in places where digital currencies can help the most. Dash is proud to support pioneering, driven Venezuelans like the Cryptobuyer team who are making a difference through entrepreneurship and technology.

Since the arrival of of triple-digit inflation and capital controls in Venezuela, Cryptobuyer has seen an influx of people seeking better solutions to preserve their wealth and livelihoods. The brokerage says it will be there with Dash and bitcoin to help citizens escape economic hardship.

What do you think about Cryptobuyer enabling cryptocurrency solutions in the Venezuelan region? Let us know in the comments below.

Cover image courtesy of Shutterstock, other images via Cryptobuyer, Pixabay, and Venezuelan Coin Dance charts.