One of the biggest advantages of working in a digital environment is the lack of physical borders. No better example can be given than cryptocurrency trading. Today, a person from one part of the world can log on to an exchange from another part of the globe and trade with someone who is thousands of miles away from both.
Yet, in an increasingly borderless environment, many exchanges are finding that some specific countries are starving for this global expanding more than others. Being hit by inflation during the recent years, Venezuela is one of the top in the list of these specific countries.
The national currency’s value is falling so fast that locals are avoiding using or holding it at all. Amenities, which most countries’ citizens take for granted, such as the availability of food and medicine, are reaching severe shortage levels. Even if available, the cost is rising so high, that purchasing seems almost impossible for many Venezuelans.
As such, cryptocurrencies are rapidly entering the game, replacing day-to-day commercial activity in the South American country. Normally considered too volatile, digital tokens now seem to be more valuable and stable in comparison to the local fiat currency.
CoinCola, as an Over The Counter (OTC) exchange, offers services that are most suitable in the Venezuelan market. The platform offers fast, easy and secure trading service at an extremely competitive price. With its OTC features, anyone in the world can use their fiat currency to purchase cryptos and trade BTC, ETH, DASH, LTC, USDT and BCH. The trading is secure and is done on a peer-to-peer basis with escrow.
DASH is increasingly becoming popular in the high inflation, crypto-loving country. Primarily focused on e-commerce and small payments, the cryptocurrency represents itself the perfect answer for the Venezuelan inflation crisis. More than 1450 merchants, such as grocers, retail outlets and restaurants, accept Dash in Venezuela.
CoinCola has recently partnered with DASH to provide OTC service for trading and buying the cryptocurrency to Venezuelans. The trading platform offers incentives, such as no trading fees till the end of October for DASH and a 50% commission for all successful referral trades through its Refer A Friend program.
CoinCola founder and CEO, Allan Zhang said about the partnership:
“CoinCola is averaging 100,000 transactions every month on our platform. We are the second largest public OTC platform in the world by transaction volume and at this time 95% of total transactions are from Asia. With our partnership with Dash, we will be truly global. We decided to partner with Dash because it is the most efficient digital currency for payments, offers the lowest fees, and provides ‘InstantSend’ technology. Dash represents a strong presence in Venezuela, Latin America, and the rest of the world. We are very selective in with which coins we list to our platform and we are proud to now offer Dash to Venezuelan users.”
With the collaboration, CoinCola has officially entered the Latin American market and is making lives easier for the inflation-hit country’s residents.