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In Venezuela Burger King opens to cryptocurrency payments

Burger King - In Venezuela Burger King opens to cryptocurrency payments

Il Venezuela it seems to be increasingly heading towards the digital economy. If the government of Caracas continues to push with the obvious intention of spreading the state cryptocurrency, the Petro, even private individuals seem to have entered the perspective of using BTC and other virtual currencies in the field of electronic payments.
A completely logical trend in light of the fact that Venezuelan citizens are increasingly deciding to convert the overstated bolivar into digital assets that despite their volatility, they still seem able to better guarantee the purchasing power of wages and pensions.

Burger King's decision

The Burger King of the Venezuela will accept payments in Bitcoin and other digital currencies. The partnership undertaken with will make this possible Cryptobuyerwhich is already operational. As revealed by a recent Twitter message, a Burger King branch located in the Sambil area of ​​Caracas has in fact already started accepting Bitcoin, Ether (ETH), Litecoin (LTC), Binance Coin (BNB), Dash (DASH) and the stablecoin Tether (USDT). Another 40 branches will soon join this venue of the well-known US chain along the national territory.

Who is Criptobuyer

Cryptobuyer is one Panama-based startups which for some time has been able to offer cryptocurrency-based services aimed at the business sector and merchants. The company also operates a chain of ATMs that make it possible to purchase Bitcoin.
The collaboration established with has been enthusiastically welcomed from within Criptobuyer Burger King, which is not new to openings of this kind in the virtual coin sector. It should also be stressed that similar initiatives that have been embraced in Russia and Europe, for limited periods of time, have not had the expected effects. Venezuela, however, precisely because of its particular condition, it could prove to be a very fertile ground in this regard. In fact, more and more those who decide to convert their salary into cryptocurrencies, thus avoiding the caudine gallows represented by the too high inflation levels of the bolivar.

An increasingly welcoming country for cryptocurrencies

Burger King's initiative, in fact, fits into a very favorable framework for digital coins. The sanctions carried out by the United States are in fact causing considerable difficulties for the Venezuelan economy, so much so as to push President Nicholas Maduro to seek alternative ways.
Among them, the one represented by digital assets was identified. The government thus launched Petro, the state cryptocurrency guaranteed by the huge oil and mineral resources enjoyed by Caracas. An experiment that is going on in a difficult way, but that in the last few months has seen a considerable acceleration. Just think of the decision to donate a wallet students or to pay half Petro to a large audience during the last Christmas holidays, to understand how Maduro is absolutely willing to promote an economy increasingly open to innovation. Precisely for this reason the Burger King initiative could be crowned with success and push other economic and commercial actors to follow suit, with further growth of cryptocurrencies in the country.

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Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

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