7 key points to send money to Venezuela

Written by Davies on / Reading time: 4 minutes.

7 key points to send money to Venezuela

Cryptocurrencies have been one of the greatest advances in the last 10 years. They let us make faster transactions than traditional banking operations, without any intermediaries, sending the money in a very simple way, ensuring the safety of transactions thanks to the blockchain, and with minimal fees and taxes.

Cryptocurrencies have turned smaller the large planet in which we live, bringing families, companies and friends closer. Sending money to Venezuela or anywhere else in the world is already a feature anyone can achieve. Are you ready to learn how to do it? Stay with us and let us guide you in this trip.

Know the key points to send money to Venezuela

Economical differences between countries mean sending remittances to developing nations is a vital support to keep commercial flow working. However, people find many difficulties when trying to send money to their relatives or friends living in Venezuela.

The country has suffered massive insolvency periods that has affected banking heavily, and has thus caused the disappearance of some financial entities and the economic collapse of the country. As a consequence of the political events during the last years, the economic landscape in the country has become heavily hit by the instability.

This environment has an influence on the safety with which we send money to Venezuela from other countries. In order to prevent this to become a problem, we are telling you 7 tips to send money as cryptocurrency:

  1. Cost. If there are intermediaries, time goes slower and transactions usually take a cost, especially in international operations. Using cryptocurrencies the cost is way smaller and is only assumed by the sender. It’s only a sort of fee much smaller than the one we would have to pay through a regular banking system. Forget about paying commissions!
  2. Time. We’re talking not only about how long does it take to make the transaction, but also to how long does it take to arrive to the recipient. Virtual currencies have reduced these lapses, letting you send money instantly, at any time and place.
  3. Safety. Every operation that involves money intrinsically scares us. We need full trust in the services and methods we’re using when we’re doing a payment or a transfer. With cryptocurrencies, blockchain is the system in charge to protect personal data and store them in an unforgeable registry.
  4. Storage. When sending money to Venezuela using cryptocurrencies, not only personal data and transfer information are being stored (so it’s impossible to forge, modify, cancel or delete), but there are also wallets or exchanges in which you can keep the money.
  5. Currency. Cryptocurrencies are virtual currencies which use digital cyphering in their transactions. Cryptography is the only tool we need to create safe economies. The value of these currencies isn’t linked to the behaviour of a specific economy, but it depends on token supply and demand. Nevertheless, some platforms allow operations with more than 100 different currencies and have FVR000700 license, which allows the exchange of cryptocurrencies with fiat money, such as euros, dollars, etc. That’s the case of Davies.
  6. One of the main properties of cryptocurrencies is their independence from banks or governments. They are digital means of exchange which can guarantee integrity, safety and balance in their account statements without the need of intermediaries. All that is achieved due to miners’ activity; they confirm the transactions that are performed with a cryptocurrency anywhere in the world.
  7. Blockchain technology is transparent and safe for an efficient circular economy. It allows storage, transmission and data protection. It also has become a great opportunity for many companies and industries (logistics, pharmacy, automobile, medicine, tourism…). Did you know that blockchain technology has become an alternative to manage, provide and channel business aid in a transparent and efficient way in the battle against COVID-19?

Sometimes, when we need to send money and are in a hurry, we end up using the first alternative we think about, without considering other options.

Little financial infrastructure, government controls to foreign currency flows and legal regulations are making remittance sending increase. Cryptocurrency features can help you ease the process. They’ve arrived to break all those handicaps and allow you to send money to Venezuela in a safe and quick way.

Do you still have any doubts? Check the system and tell us about your concerns. We’re here to help you.