Venezuelan Minimum Wage Reaches $3 as More Venezuelans Take Refuge in Cryptocurrencies

Venezuelan Minimum Wage Reaches $3 as More Venezuelans Take Refuge in Cryptocurrencies


The president of Venezuela, Nicolas Maduro, approved a minimum wage raise increase last week that took it to three dollars monthly, a very low income for the citizens of the country that are facing a strong economic crisis since 2013. However, the crypto environment has been growing, and now Venezuelans are flocking to exchanges like Binance and Localbitcoins, platforms that are now serving thousands of Venezuelan users monthly with their peer-to-peer offerings destined to preserve the value of their money.

Venezuela’s Minimum Wage Raised to $3 Monthly

Earlier this week. Nicolas Maduro, president of Venezuela, announced a minimum wage raise through its Labour minister, Eduardo Piñate, in a public support rally to Maduro’s government.

Trending: Mike Lindell Headlines Bikers For Trump Mother’s Day Rally!

The raise of 300% takes the minimum wage to an approximated value of three U.S. dollars monthly, a number that is insufficient to cover the basic needs of a family even for a day. According to ground reports, one kilogram of meat costs about $3.75,

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!
Thanks for sharing!
Send this to a friend