It's no secret that Venezuela is experiencing one of the worst hyperinflations in the world, where its legal tender and local currency is greatly depreciated against the dollar, all due to political issues that I won't touch on in this post, because most of you have probably heard something or have information about it, and besides, I really don't like politics.

That's why in this post, I want to show and/or rather narrate my experience with Bitcoin and cryptocurrencies as a store of value in my country, Venezuela, and how, at present, it is still practically mandatory to use them.

How are Bitcoin and cryptocurrencies used in Venezuela?How are Bitcoin and cryptocurrencies used in Venezuela?

Basically, and in short, they function as a store of value, especially Bitcoin and stablecoins such as USDT or USDC, as this allows us to protect the value of the money we receive, whether from any job or physical salary at the official rate, in order to avoid losing purchasing power when we go to buy the basic basket of goods that everyone needs to survive.

However, this is not the only way, because in addition to this, they are also used in the following ways:

• Bitcoin is also used to speculate and obtain returns through peer-to-peer exchanges, which we call P2P. Generally, the platform most used by Venezuelans (including myself) and the one that concentrates the highest volume in this regard, even being one of the largest in Latin America, is Binance.
• It is also used to pay for certain services or even real estate, although those who handle a larger volume may resort to this, since BTC is one of those most precious assets that people in the market we find ourselves in do not want to sell, so they use these means to accumulate much more.
• Of course, as is the case in much of the world, there are mining farms, some legal under the country's regulations and others illegal, but it is something that is practiced and in some cases is quite lucrative.

Note: On this point, I would like to mine Bitcoin and support the network to make it even more decentralized than it already is.

How do I personally use them?How do I personally use them?

Although they called me a "Shitcoiner" haha, my favorite cryptocurrency is actually Bitcoin. Of course, I'm far from being a whale, but I do have some reserves that I've been accumulating within my means, since I usually work online and manage my funds well, so as an investor, accumulating BTC is a priority.

On the other hand, I don't handle my local currency. In short, I never have "Bolivars." I only use them to make purchases, but every time I do that, I use Binance P2P and exchange what I need, as this allows me to be as little exposed as possible to inflation and the constant decline of the Bolivar.

What I want to do in the long termWhat I want to do in the long term

I would like to educate people about this in my country, gather a group and explain what Bitcoin is, how Blockchain technology works on a large scale, and why this system does not need intermediaries and where you own your money, without shortcuts, without anyone else's permission, you decide what to do with it.

Note: Later on, I will explain in detail how I would like to do this, create a large educational project, and spread the information much further than it has spread over time.