Dash, the leading peer-to-peer digital currency for payments, is more widely used for commerce, both online and in person, throughout Venezuela than every other cryptocurrency combined. More than 500 merchants in the country now accept Dash for payments including Remax Venezuela real estate, Motos Bera motorcycles, and Susy Cookies bakery franchise.
Dash has made a concentrated merchant adoption push in Venezuela, and as a result it has become easily the number one digital currency for payments in the country. Business Development Head of Dash Merchant Venezuela Alejandro Echeverría said, “The Dash cryptocurrency and community have made the biggest contribution to our country. The numbers speak for themselves.”
Currently, Dash has 10,000 users, 500 merchants (including more than 10 non-governmental organizations) and more than 50 people who are paid in Dash, including workers from Dash Help, Dash Merchant, Dash Venezuela and Dash Youth. As a result, Dash is the cryptocurrency that has had the most impact in Venezuela. Dash is being used every day for real transactions between buyers and merchants as a means of trading and not just an investment option. No other cryptocurrency has achieved that level of use in Venezuela.
Cryptobuyer, a Latin American cryptocurrency exchange, ATM and merchant solutions company, reports that Dash is frequently in the top two most used cryptocurrencies on the platform, and is currently the top. Cryptobuyer CEO Jorge Farias said, “Cryptobuyer was the first platform in Latin America to integrate Dash in early 2017, as well as the first to offer it in Venezuela. Every month, we see how Bitcoin and Dash fight for the top volume in our operations, but as for the largest number of transactions, Dash is winning at this time.”
The growth of Dash’s use has enabled Venezuelans to escape the effects of hyperinflation, which recently reached the one million mark in the Bloomberg Cafe Con Leche Index, meaning a single cup of coffee now costs one million bolivars. Dash has appreciated more than 2,000% since January of 2017, presenting a way out for struggling Venezuelans.