Crypto 360°

Tuesday, 30 August 2022

Virtuzone becomes the first company to accept Bitcoin payments for business setup in the UAE

The UAE’s leading company formation specialists, Virtuzone, have announced that they now accept Bitcoin payments for business setup, becoming the first company in the industry to accept the world’s most popular and largest cryptocurrency based on market value.

By officially receiving Bitcoin as a form of payment, Virtuzone reinforces its position as a leader in business innovation, while making its company incorporation and business support services more accessible, affordable and convenient for entrepreneurs based in the UAE and overseas.

The strategic move also builds on Virtuzone’s aim to help accelerate the adoption and growth of digital technologies in the country, ultimately positioning the UAE as a borderless business hub.

https://preview.redd.it/yrnufg1b8pk91.png?width=1080&format=png&auto=webp&s=d142df05b38feb6f1e78600e5342083b9696d333

Source: https://www.vz.ae/

submitted by /u/BitcoinWide
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source https://www.reddit.com/r/btc/comments/x0wlmy/virtuzone_becomes_the_first_company_to_accept/

While the Venezuelan bolivar lost more than 25% of its value, 33 BTC were traded last week here using LocalBitcoin (Monthly minimum wage currently at 16 USD)

Hi guys, Venezuelan "living" here.

I have been posting this for the last years also I usually post in the cryptocurrency subreddit but like to post it here as the main currency talked here is the BTC, also some people stay in this sub and avoid the cryptocurrency one!

Last week exchange rate increased from less than 6 Bs. per USD to almost 8 Bs. per USD.

Monthly minimum wage has been a wild ride, from 1 USD monthly to 30 USD and now around 16 USD.

Average wage is around 100 USD monthly.

For weeks now the average BTC trade is around 30-35 BTC, remember this is only measured using LocalBitcoin not because I want, they are the only ones that make stat public. Binance, Airtm and Reserve are also used here. Years ago the value reached 2,000 BTC (in one week)

One BTC is around 160,000 Bs. (Bolivares) right now! Almost a year ago government removed by law 6 zeroes, so it would have been 160,000,000,000 "old" Bs.

People use crypto to escape Bolivares, also some people receive remittances from abroad like that, and miners to exchange they payments (as electricity is technically free).

Some sources,

https://www.caracaschronicles.com/2022/04/21/is-venezuela-doing-better/

https://www.caracaschronicles.com/2022/04/20/the-bizarre-figures-of-venezuelas-economic-recovery/

https://coin.dance/volume/localbitcoins/VED/BTC

https://coin.dance/volume/localbitcoins/VED

https://www.caracaschronicles.com/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/

https://localbitcoins.com/country/VE

https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/

submitted by /u/WorkingLime
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