Colombia and Venezuela together even in Bitcoin.

Venezuela and Colombia, the two northernmost South American countries of that part of the continent, have been characterized by being united (although as brothers fighting from time to time) since Simón Bolívar freed them, in fact they were born as a single nation, known as the Gran Colombia, and they have shared stories, tragedies and borders forever, why not also share their preferences for cryptocurrencies as a financial exchange tool.

The auxiliary support of the economy
It is no secret to anyone that the economic situation in Venezuela is a disaster due to multiple factors, however in the midst of a financial catastrophe several elements have created an economic underworld where cryptocurrencies play an important role and have contributed to many households in the nation be able to eat full every day.

First; 5 million Venezuelans have left the country in recent years considering that outside of it they can guarantee a better future for themselves and their families and have turned to cryptocurrencies as a mechanism for sending remittances. As well as the thousands that remain inside and that thanks to the internet and the different forms of telework carry out paid activities in cryptocurrencies and services related to the use of them.

The sanctions imposed against some high-ranking government officials and the opposition have forced them not only to invest their ill-gotten dollars within the nation but to resort to the use of cryptocurrencies to protect what it cost them so hard to “appropriate”. While illegal businesses in the country found in the use of cryptocurrencies the mechanism to legalize fortunes.

Of course Colombia, with economic, political and ideological realities that present great similarities to its peer Venezuela, is not far behind in the use of cryptocurrencies for similar purposes.

The largest market in South America.
Only in the last month of October 2020, according to available data from the LocalBitcoin company in Venezuela 1,150 BTC were traded, an approximate of 12 and a half million dollars, in a country where the average monthly income is $ 5, it is enough to Monthly expenses of just over 2.5 million people.

Meanwhile, Colombia is not far behind and even surpasses Venezuela, in terms of Bitcoin transactions, trading during the month of last October, the amount of 1,290 BTC approximately equivalent to 13.9 million dollars, although the country offers a minimum salary of 250 dollars a month to its workers but a level of transactions very far from the 3,000 BTC that were traded in that country just a year ago.