Hi guys, as you know I'm Venezuelan living here crypto enthusiast, weeks ago I posted my experience going to a supermarket where crypto is accepted here in Venezuela paying with Bitcoin, it was good.
I went again this time to buy some things I needed and this time I used Litecoin (encouraged by a fellow redditor that wants to remain anonymous), in theory it should be fast and cheaper and it was!
The cashier screen, after I told my I wanted to pay with Litecoin:
So 0.32757601 LTC, at the time it was 29.06 USD or 659.69 Bs. (Bolivares, national currency). You have to remember that the MONTHLY minimum “plain” wage is only 130 Bs. (5 USD), so this purchase was around 5x monthly minimum wage. Average wage is around 120 USD monthly.
And the transaction:
The fee was 0 (Yes, 0 USD). It was really fast, less than 1-2 minutes for the 1st confirmation, they showed me a QR code, wait 1-2 minutes and done.
I would totally recommend it!
I couldn't hodl the LTC, anyway I was going to exchange them to Bolivares or USD to purchase the items shown in the picture, so if LTC goes to 1K that would make me feel better.
As always, inflation here is crazy (anything under 10% MONTHLY is like a miracle) and since 2007 , 14 zeroes have been removed from the currency (last time 6 zeroes in 2021).
Any question, suggestion or request let me know!
50 thoughts on “Yes, I did it again, I went to the supermarket here in Venezuela and paid directly crypto, this time with Litecoin!”
Interesting. Thanks for sharing
Awesome! Seems like a much faster and better experience than the last time.
What’s the sentiment with cryptocurrency in your country??
Thank you for using and advertising Litecoin especially with the Halving in a few months!
I’m happy your doing okay my fellow friend.
This is great! Unfortunately, we’re still lite years away for a mass adoption. Hope to see more post like this though
Viva for Venezuela 🇻🇪 mass adoption start like this
>so this purchase was around 5x monthly minimum wage. Average wage is around 120 USD monthly.
Your kart is almost empty, that’s crazy!
And if people travel to Venezuela, they don’t have to go through the trouble to exchange currencies.
Damn. $30 for that seems a lot even if the same items were bought in a high GDP country. And when you say that these items are basically 5x of monthly minimum wage, I really don’t understand how most people survive there?
In every country that fights with economic crisis, inflation, crypto steps in as a saviour. That is amazing.
I also believe that Moons can help you big time!
Always nice to see real use cases. Great job
Is LTC going to be your primary crypto choice now after this experience?
Always neat to see these posts. Much respect! 🇻🇪
Love it. Thank you for the info.
Litecoin pros & cons with related info are in the collapsed comments below.
Pretty cool, I always felt like Nano would be a good candidate for a transactional crypto
>It was really fast, less than 1-2 minutes for the 1st confirmation, they showed me a QR code, wait 1-2 minutes and done.
If each grocery store transaction tool 1-2 minutes longer at my store the line for the registers would be looping threw aisles.
Best of luck to you. Keep us updated.
Sad to see the inflation of your currency so badly, good thing crypto gives everyone a fair chance
And who said crypto is not evolving?
Well done, avoiding inflation and showing the utility.
Is BCH an option there?
Happy to see this and happy you keep updating us on Venezuela.
Best of luck my friend. Hoping things improve for you there.
Pay with kaspa or nano next. 😊
you buying potato’s? with crypto for some reason makes me happier
Well done OP, you’re bloody amazing using crypto.
Shit like this is why I’m putting a little of my DCA into LTC. I know LtC is going to do something special in the future. Just gut feeling.
Next year, LTC will be back in the top 10.
I find it hilarious that there national currency is bs
This feels promising – but 2 minutes just to pay doesn’t feel reasonable for mass adoption at this point. Hopefully it speeds up in the future.
>less than 1-2 minutes for the 1st confirmation (…) wait 1-2 minutes and done.
So 2 to 4 minutes to pay for groceries? Am I the only one who thinks this is absurd??? Am I insane?
Real life usecase feel so good, that’s what core intention of crypto.
More better than hearing that monkey, frog , dog coin mooned to 10000x .
I bet it was a quick transaction!
Yous a gonna be the pizza guy, but thanks for using it! I can’t wait until I can use my crypto like that here!
Prayers to you and the people in Venezuela hopefully true cryptocurrencies that aim to actually help people will prevail and help people like you and countries around the world because it looks like we’re heading for a large economic fall that will only help the ultra-rich.
Was it difficult or awkward for the cashier in both times you paid with crypto? If it was seamless for both parties that’s huge!
Litecoin has always been legit
Love the white paper on litecoin
As the upcoming LTC halving approaches, you have convinced me to buy LTC.
What app/wallet did you use to make the payment?
How crypto should be used, daily transactions. Not hoarded.
That’s awesome 👏
what other cryptos do vendors accept?
So good man glad to see you chose LTC, as a miner it is super cheap to transact in and pretty quick compared to other coins. Hopefully you can get a Mweb address on your phone for privacy soon too!
I’m glad to see the real world use of crypto. Especially in a country with such poverty as yours. What small and great example.
Always a pleasure to see your posts fren.
Great that you tried LTC this time. Don’t know if stablecoins like USDT or USDC can beat the speed and fees of LTC in such payments.
If you ever tried out stablecoins, do post and share.
Amazing. Waiting for your next update 🙂
Hey I remember your last post. Good shit op. Keep it up. Using crypto helps adoption. We can’t hold forever. Someone has to be the bitcoin pizza guy.
Kudos to you. If I had the ability to do that I would have to book a taxable gain on my LTC. Hopefully the US gets its act together someday and exempts small purchases with crypto from taxes.
I really hate to be that guy, but waiting minutes for a transaction to occur is absurd, especially when there are better cryptocurrencies out there that would do the exact same thing within seconds.
If you want to see a real use case, you can buy someone food in Nigeria right now, from across the world, with no fees, and within seconds using Nano (which I’ve already done during their last campaign)
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