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Question: how does Bitcoin help you get around currency controls? Who is selling Bitcoin for Venezuelan money?
by roywiggins 11y ago
Question: how does Bitcoin help you get around currency controls? Who is selling Bitcoin for Venezuelan money?
- brighton36 11y agoMost of the people in venezuela with bitcoin trade it for dollars. Typically by routing it to the states, though there is a small local network of exchangers that route paper dollars over the border. However, most of the underserved users are in the states.
- elorant 11y agoI don't know about currency controls but in Greece with capital controls imposed there were a lot of people who turned to Bitcoin to withdraw as much money out of their bank as they could. You can't withdraw more than 420 euros weekly per bank in cash but no one's stopping you from buying as much bitcoin as you like using credit/debit cards.