Venezuela's Crypto-Curious Delivery Drivers
Pablo Toro, a food delivery driver in Caracas, has no stake in cryptocurrency or blockchain technology. But that doesn't stop him from accepting Bitcoin and other digital currencies as payment for his services.
Toro is one of a growing number of Venezuelans who are turning to cryptocurrency as a way to cope with the country's economic crisis. The bolivar, Venezuela's official currency, has lost more than 99% of its value against the US dollar in recent years, making it difficult for Venezuelans to buy basic necessities such as food and medicine.
Cryptocurrency, on the other hand, is not subject to the same inflationary pressures as fiat currencies. This makes it a more stable store of value, and a more attractive option for Venezuelans who are looking to protect their savings.
Toro says that he started accepting cryptocurrency as payment about a year ago. At first, he was only accepting Bitcoin, but he has since added other currencies such as Ethereum and Litecoin to his list of accepted payments.
Toro says that he has been pleasantly surprised by the number of people who are willing to pay for his services with cryptocurrency. He says that he has even had customers who have traveled from other parts of the country just to pay for their food with Bitcoin.
Toro is not the only Venezuelan who is accepting cryptocurrency as payment. A number of businesses in Caracas, including restaurants, cafes, and even a few gas stations, are now accepting Bitcoin and other digital currencies.
The growing acceptance of cryptocurrency in Venezuela is a sign of the country's desperation. With the bolivar in freefall, Venezuelans are looking for any way to protect their savings and make ends meet. Cryptocurrency is one of the few options that they have.
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