Cryptocurrency investment in Venezuela: brief overview

The editors of "Grandes Medios" published an article in Spanish that gives a brief but quite useful overview of the possibilities of investment in cryptocurrencies in the context of today's Venezuela. It was originally published at

I translated it to share it this way and invite you to visit the source of the original.

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Neither of them decides to execute their castling on the board, and in the background, a country almost entirely in splinters. Beyond the Maduro-Guaidó contest and those who support them, Venezuelan investors who remain in the nation are looking for ways to resist and evolve in a complex environment.

In addition to making investments in Forex, and information resources such as guiabitcoin.com , for example, it seeks to diversify and strengthen capital in the most conscious and profitable way by resisting the hyperinflation that Venezuela suffers due to the inefficiency of its regime. Scams, laws adjusted for convenience, among other things, can complicate the layout of a cryptocurrency situation to make crucial decisions as investors.

In this sense, the present article will grant certain keys that can help to understand the complex and unique panorama faced by an investor in cryptocurrencies in Venezuela, a type of investment that is undoubtedly one of the most important worldwide.

Cryptocurrencies: Venezuelan regime survival alternative

The sanctions imposed by the United States on Maduro and key figures in his immediate surroundings have represented a severe setback regarding the consolidation and continuity of his social and political project in Venezuela.

However, experts such as Ricardo Baptista, Director of the Latin American Corporation of Cryptoeconomics, affirms that Maduro's regime could be using cryptocurrencies to avoid sanctions and continue fulfilling its commercial commitments made with its creditors.

Although Petro as a state cryptocurrency seems to be an innovative project, the lack of transparency regarding its operation and its supposed “anchoring” with the main energy and mineral reserves of Venezuela, coupled with its exclusion from the relevant exchanges in the market , has plunged Petro into a kind of limbo in which not many want to get involved.

So the Maduro administration, in a not very official way, seems to be remedying, at least provisionally, the harsh penalties and the limitation in commercial activity that entails its considerable external debt. It is worth noting the creation of the National Superintendence of Cryptoactive and Related Activities (SUNACRIP) as an entity to try to regulate the commercialization of cryptocurrencies in Venezuela.

Virtual currencies: option to circumvent hyperinflation

With an extremely difficult economic situation, and a contraction of GDP of around 20%, cryptocurrencies arise in Venezuela as a great alternative to protect the capital of one of the worst crises in the history of the South American country.

Although there is still misinformation and distrust in certain investors, virtual currencies gain strength as a resource to support investments, whether it be the entrepreneur or the citizen with enough capital to enter the cryptocurrency market.

Having experienced a transactional peak of 2,487 BTC traded in February 2019, and despite the decline to 1,596 BTC traded between the end of March and April of the current year, this is an important indicator that, despite the economic and social debacle that Venezuela is experiencing, and with a collapse of the electric power service in doors, cryptocurrencies will continue to be an increasingly important option to invest and cope with the country's difficult situation.

Despite this, nothing can be considered totally as invariable in the scenario of investment in Venezuela of cryptocurrencies, a hardening of cryptoactive regulation laws by the Venezuelan regime could be experienced, or perhaps not, according to their interests .

The truth is that, as investors, we must closely follow the landscape of virtual currencies in the South American country with all sources within reach, because we must not forget that nothing is as obvious as it seems to be.