My Experience in Adopting Venezuela in the year 2021

Avatar for BCHouseVE
2 years ago

I remember that I started doing adoption in my city in 2018 with the Bitcoin Cash Fund was consolidated in those times there was no regulation in any country for cryptocurrencies or they were of little influence in finance.

Venezuela was practically on the floor, sunk in hyperinflation and a terrible shortage of food products, My knowledge of cryptocurrencies was limited to the language and the market did not favor good publicity for cryptocurrencies.

Bitcoin Cash Fund disappears and the adoption disappears in my city, we could only affiliate 4 businesses in a period of 3 months, it was really difficult, they kicked us out of the businesses and made fun of us.

some people treated us with kindness others were simply afraid.

Improvements in news

Cryptocurrencies became a necessity in Venezuela and little by little the majority of the population had no choice but to learn about cryptocurrencies to escape the terrible crisis, We were still studying and little by little the internal problems of BCH were passing to not go into those details, until the regulation arrived, and the big institutional investments achieved a BTC at more than 20.000$ with constant historical maximums on a weekly basis.

The year 2021 Pandemic and Popularity

Thousands of whales and international institutions, more positive government regulation made cryptocurrencies popular and it was practically a green year, facing the coronavirus crisis and saving lives.

The great adoption and enthusiasm of Venezuelans to learn about cryptocurrencies began.

We had to formalize our consulting and outreach capabilities, and we grew our staff and created employment opportunities, Gradually our adoption map grew, and when one food vendor accepted the other food vendors also wanted to adopt the food.

The team grew

Thanks to Satoshi Angels the massive adoption was advanced in Venezuela, with the launch of the rewards program and the connection with Venezuela through Bitcoin Cash House, we were able to create an environment of trust and harmony

Cabs, pizzerias, bakeries, markets, entrepreneurs, hot dogs, hamburgers, coffee shops, etc.

Today there are more than 100 businesses but not everything is rosy as we would say in Latin America.

About the Problems

  • Education: The world of cryptocurrencies is very complex, and in 1 hour we cannot explain what it is about and also convince them to accept it in their businesses, places where they have left their dreams, or it is the project of their whole life.

  • Rejection: There are people who reject cryptocurrencies, mostly because they believe it is a scam, others have already been scammed and others are simply afraid.

  • Lack of customers: There are few people on the street who have BCH in their wallets, there are a lot of people who almost have fiat in cash and mostly use debit cards

  • In time they stop accepting: We have several businesses that after 2 or 3 months stopped accepting cryptocurrencies because they had few or no customers paying with cryptocurrencies

  • More incentive for companies or entrepreneurs: We offered them good publicity and free and constant advice, but they were not motivated, they did not want to attend the workshops, they did not want to get information.

These are some of the excuses or problems we have here in Venezuela, at least with those we have been able to keep in touch with, some entrepreneurs stopped selling, others simply closed, others could not keep their doors open.

Now I ask you

How do you think adoption can be improved?

How can we avoid these problems?

Do you already accept bitcoin cash in your business?

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2 years ago
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Comments

I am curious to know how a small shop owner (as shown in a photo in your post) manages to take micro payments in BTC?

$ 0.00
2 years ago

That is impossible in BTC but the reason why a BTC sticker appears in businesses is because you have to tell everyone in the world about BTC and then explain the improvement of BCH, most of them always end up accepting BC.

$ 0.10
2 years ago

Okay, it is clear now.

$ 0.00
2 years ago

¡Hola! Es increíble todo lo que estas haciendo, porque no todos se atreven a tratar de buscar una solución para mejorar la situación que se esta viviendo, evidentemente te enfrentaras a muchas personas dudosas, porque se desconoce muchas cosas al respecto sobre las cryptos, además que no todas las personas tienen cabeza para entender sobre dicho mercado. En mi opinión se debería tratar de dar más charlas sobre el tema, pero no solamente a negocios, sino también a gente común, porque no solamente hay que educar al comerciante con lo nuevo que se viene, sino también al cliente, ya que ellos son un factor vital en toda esta cuestión.

Realmente te animo a continuar y que logres avanzar mucho más, porque no todos tienen esa valía para llevar a cabo algo que parece no muchos aceptaran. Excelente artículo.

$ 0.05
2 years ago

Muchas Gracias por tus palabras, al menos reconoces porque tu tambien eres de aqui, lo dificil que somos los latinos, gracias y te felicito por estar aqui en read cash

$ 0.00
2 years ago

Very interesting article. Thanks for sharing. I am Venezuelan and I have little time in the world of cryptocurrencies but every day I want to learn much more about them, they are already the present of the economy.

$ 0.00
2 years ago

I am Venezuelan and cryptocurrencies have relieved me in the economic environment in these times of crisis. In my case, I was able to sell a couple of local animal photos to a person in Australia. It wasn't much in quantity, but it was liberating in many ways. I'm thankful.

$ 0.00
2 years ago

I have asked previously many Venezuelans from read.cash about this matter and concluded that adoption of Bitcoin Cash is not following a rapid pace. Frankly, I would prefer Venezuelans to comment here, even in Spanish, we can use translators and understand the issues. This would be the best approach and I will write on noise.cash as this is exactly what we know so far.

While shops accept sometimes BCH it is discouraging to see they find no consumers wanting to pay with Bitcoin Cash. Marc De Mesel explained this previously in videos, it is a lengthy process and results may not be what we expected.

I have also noted the fact that many Venezuelans have had knowledge of Bitcoin and cryptocurrency since 2017-2018. I remember the Dash campaigns in Venezuela as well, and it seems that Dash was more known to Venezuelans than BCH from the conversations I've had. However, once the funding ended for this campaign, there was no adoption of Dash left and gradually (within a few months) the Dash movement in Venezuela declined.

For me what matters most is to TRACK adoption at all levels.

Currently, BCH has various initiatives around the world, but we don't have some data that is rather important.

We need to know sales per merchant with BCH used, how the merchants use BCH (liquidate to fiat, use to buy from other BCH merchants) and the volumes of BCH in each city campaigns are running (i.e. Caracas in total). Tracking may be difficult, though, and may require an additional monthly report by the merchant. Perhaps the onboarding service can incentivize the merchants further to fill a google sheet with data like a wallet address, volumes produced, number of BCH customers.

This feedback is required, otherwise, we don't know how BCH performs and what we should change to make things better. Perhaps there are 100 users of BCH in one shop for December but nobody used BCH in January. Maybe they had none at all. Have we onboarded enough users of BCH as well and are they able to buy Bitcoin Cash with fiat money? Do they want to use BCH or do they prefer the Bolivar with a 2000% inflation instead?

Are the debit cards working with such inflation in Venezuela? I am sure that Venezuelans understand money better than anyone else right now, after years of hyperinflation.

I hope Venezuelan friends give us their viewpoint, since this is how we can gather the most information possible.

$ 0.10
2 years ago

Cada vez que veo un comentario de Pantera no puedo evitar leerlo de punta a punta. Aquí se usan las tarjetas de débito, es uno de los medios de pagos más usados. Con respecto al Dash, gane un poco el año pasado con una promoción que estaban haciendo. Pero es como dices, no hay un seguimiento de las cryptos, ni tampoco un incentivo en el uso de las mismas.

Personalmente me encanta el Bitcoin Cash, lo genero aquí y en Noise, y lo paso a bolívares porque por mi zona no hay lugares que lo acepten. Y sinceramente preferiría que aceptaran el Bitcoin Cash, seria mucho más cómodo ir y pagar directamente. Me evitaría el proceso de envía mi dinero a un comprador, luego esperar a que este me lo pase a bolívares, y después ir a comprar. En todo el proceso pierdo mucho tiempo esperando a que esta persona se conecte y haga la transacción. Ahora hay un nuevo obstáculo, el gobierno implementara un 20% de impuesto en las transacciones en cryptos y divisas. Así que, siento que no hay los suficientes incentivos para el uso de cryptos. No estoy de acuerdo con la cantidad de que pedirán para impuestos, es demasiado alta.

$ 0.00
2 years ago

I am reviewing your remarks with a magnifying glass

$ 0.00
2 years ago

Recuerdo cuando empezó lo del Petro, todos compraban con Petro porque eran bonos del gobierno. El incentivo aquí siempre es el dinero gratis. Pero no puede ser así para todo. La verdad es que debería de hacerse publicidad en los medios, mostrar como el uso de cryptomonedas es útil, seguro y rápido. Y como puede ser también una forma para resguardar tu dinero de la devaluación, y un método de ahorro eficaz.

Y si, falta educación en estos temas para que la población lo entienda, incluso, hay jóvenes que no lo entienden, o que no desean hacerlo solo porque no se hacen millonarios en un día. Tienen expectativas muy irreales. Les falta madurez a mi parecer, y también mucha información.

$ 0.00
2 years ago

Gracias por compartir, ya vemos que las criptomonedas son la verdadera libertad economica que necesitabamos

$ 0.01
2 years ago

this made me to finally put my thoughts on this topic into an article https://read.cash/@tula_s/sustainable-next-level-merchant-onboarding-de9944dc

$ 0.01
2 years ago

I saw it

$ 0.00
2 years ago

If a merchant is willing to accept Bitcoin Cash, the most important thing is that there are customers who pay with BCH. It is therefore necessary that people come into possession of BCH. It would be best if they could earn BCH somewhere, such as on read.cash or noise.cash. If a merchant can sell his goods in BCH, he will not stop accepting BCH. It is ten times harder to convince a new merchant than to keep one.

$ 0.10
2 years ago

venezuela is one of the countries with more use of cryptocurrencies in the world, we do not understand how they have few customers.

$ 0.00
2 years ago

Maybe the customers don't own BCH, just other cryptos.

$ 0.00
2 years ago

even here in our country I haven't seen and establishment or ant business that accepts BCH as payment. Often time people are paying in cash or cards. It is because BCH is not campaign. Still, I believe time will come crypto currencies will be accepted as we can see the world was slowly adapting cashless transactions.

$ 0.00
2 years ago

First they ridicule you, then they follow you

$ 0.05
2 years ago

Change never comes overnight it is a continuation process. Yes lot of hurdles in cryptoworld especially adoption by simply people. Only way is awareness because we can't force anyone to jump in. Fresh college/ university graduate can help in this cause because it is easy to convey them. Even they continue in fiat also but some portion of their utility buy through BCH and then may later it becomes habit or BCH get their confidence.

$ 0.00
2 years ago

I like that observation, I agree, although if we try it with 100 people, just by the fact that 10 of those 100 use their bch, we leave a very important seed of testimony.

$ 0.00
2 years ago