Even though Venezuela, a South American country facing economic glitches has its Cryptocurrency named Petro, Dash (DASH), a topnotch peer-to-peer digital Cryptocurrency peddled to be spendable anywhere, has been celebrated as the most popular asset in the country above any other Cryptocurrency.
According to a report issued out, the Cryptocurrency is competing for superiority amongst its counterparts.
The report stated that even though Bitcoin has been rated as the cryptocurrency don and trailblazer around the world, Dash seems unmatchable within the enclave of Venezuela.
Over 520 dealers in the country which includes Motos Bera motorcycles, Remax Venezuela real estate and more are now accepting Dash as payment option for trade.
A Latin American exchange, Cryptobuyer, which was the first to adopt Dash on its platform as early as 2017 also affirm to this, stating that the Cryptocurrency is winning at the moment.
Surely the massive adoption Dash is receiving in the country is not a reason. The first conference of the Cryptocurrency in Venezuela, Dash Caracas 2017, which enlightened the citizens ushered the growth of the crypto coin in the country.
Why Dash (DASH) And Other Cryptocurrencies Are Option In Venezuela
Sadly for Venezuela, the economy of the country has for some time been facing huge disaster as prices continue to soar on daily basis without control.
The International Monetary Fund (IMF) this week opined that the nation has been wedged to intense social and economic crises, and by the end of the year, the inflation could rise to 1 million percent.
Due to the lasting disaster, citizens of the country has lost confidence in its national currency, and are now resorting to Cryptocurrency as the salvager of their glitches.
Similarly, in February, the government of the country launched the country’s national Cryptocurrency named Petro (PTR), with hopes that it will help revive the situation.
In another development, the president of the country, Nicolás Maduro, announced that while the government is working to proffer solution to the tragic situation, the country’s new national currency will be affixed to Petro (PTR), and it will be in circulation starting from August 20.
Venezuela has fully turned to a crypto economy country. Its currency has been discarded and it has been replaced by Crypto Petro. But still, Dash is making great impact in the country. Seems like Venezuela is may be ahead of Malta soon .