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An airdrop collection of cryptocurrency was launched to help Venezuelans. People are donating funds through a series of different currencies to the citizens of the South American nation affected by the crisis – many of whom are refugees.
Launched by Airtm, a digital portfolio linked to banks and blockchains, fundraising plans to send $ 1 million in digital currency to 100,000 Venezuelans authenticated by ID. Donations can be made in bitcoin, bitcoin money, zcash, dash, ethereum, litecoin, ripple and others. They can be quickly used or converted into dollars by the Venezuelans.
So far, Airdrop Venezuela has proved to be popular. Launched on November 27, approximately $ 50,000 was raised at the time of writing this article. Ten dollars of donations can help a family buy food, medicine and scarce imported goods. Suffering from the world's highest inflation, the country's currency, the bolivar, has been virtually rendered useless. Digital money is proving useful to many Venezuelans eager to get rid of Bolivar.
61% of Venezuelans had trouble putting food on the table in 2017. The situation has continued to worsen this year, and is expected to deteriorate in 2019. Help us spread the word and share the message. #AirdropVenezuela
– Airtm Inc (@AirtmInc) 10 December 2018
Venezuelans actually sell wads of money or even use it to make items that they can sell, such as bags or craft items, to make money. Airtm has been useful for Venezuelans seeking to efficiently convert their bolivars into US dollars. Its service allows users to quickly convert any currency into cash through banks, gift certificates, Western Union or cryptocurrencies.
CEO of Bitcoin.com to combine BCH donations for the next 24 hours
A hot topic on Twitter, the charity's effort is rapidly gaining ground by helping to spread the news of the terrible help that the Venezuelans need. Bitcoin.com CEO Roger Ver said Monday that he would match all BCH donations made in the next 24 hours. He said:
The bigger the network effect of a currency, the more useful it becomes that currency. This is a great way to grow the Bitcoin Cash network and help people in need at the same time.
Venezuela afflicted by the crisis sees tens of thousands of citizens flee the country every day due to lack of food and medicine. Most go to neighboring Colombia, but many others go to Peru, Brazil, the United States and some to Europe. The government of the country launched a digital currency backed by oil, the petro, to help the economy.
Just last week, President Nicolas Maduro ordered the doubling of the petro price. The digital currency has been widely criticized by Venezuelan citizens and by experts who consider it a fraud or worthless currency. Although Maduro has said it is the solution to the country's problems, the petro wallet is not yet available to the public and there have been no reports of anyone using it.
What do you think about Airdrop Venezuela? Let us know in the comments section below.
Images via Shutterstock and Pixabay.
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