Cryptocurrency

Quarantine and Bitcoin: how to live a trader venezuelan in full pandemic

The trader venezuelan Jesus Salcedo says that he heard the call of bitcoin in full quarantine. The clothing store, which has since more than a decade ago, it closed as soon as the World Health Organization officially declared the coronavirus as a global pandemic. The fear had spread, sinking it even to the stock market in the worst week the stock market since the attacks of 11 September 2001 in the united States; accumulating heavy losses.

Jesus story to Breaking News as he lived those days of terror. Had to close the doors of business that helped him to stand firm together with his family, enduring the battering of the brash venezuelan economy. He commented to his wife that it was the first time in his entire life that he did not know what to do to deal with the difficulties that the coronavirus came nigh to the gate of your home. It was not easy having to take refuge at home against the ads of quarantine, as I saw on the news how the virus is spread to step fast through the world, leaving traces of infection and death.

With their funds in dollars, Jesus felt a sharp pang in the heart every time I saw that the financial markets fell into a tailspin. I knew that I needed a territory insurance, a kind of bunker to protect the fruit of many years of work.

It is true that a venezuelan is accustomed to difficult situations by the lack of services and hyper-inflation, rampant since several years ago; but now, with the total shutdown of production by the quarantine, and presented new challenges, forcing the population to seek alternatives to withstand the onslaught of the global crisis by COVID-19.

The jump from the dollar to bitcoin

In the midst of so much uncertainty, Jesus decided to follow the recommendation of a friend who told him that to buy bitcoin. It was not the first time I heard of the criptomoneda more popular, but this time, unlike the previous ones, increasing attention, were interested, asked and was motivated. As a good trader, I knew I had to take a quick decision. It was in that moment or never. The objective was to adapt, survive and emerge stronger on the other side.

Jesus decided to migrate from dollars to bitcoin to protect the value of their savings. Source: johan10/ Envato Elements.

Jesus tells us that, after talking a bit with his friend, got himself full-time to investigate on Bitcoin. He noted that it was a very volatile asset whose price had also plummeted in those days, along with the stock exchanges of the world, but despite this, he decided to trust. So, he didn’t think more, he opened his wallet and bought bitcoins when the price was only just beginning to recover from the precipitous drop that took it to USD 7.900 to break the barrier of $ 4,000 in march of last year.

“It didn’t take me long to realize that he had made a good decision, because when I invested the price of bitcoin was slightly above $ 5,000, and since that time has had a huge push that has allowed me to multiply my capital even in times of pandemic. Now, also spend time to learn more about Bitcoin and that way I learn something new, because I don’t want to stay with what I already know, I want to learn much more, even as I made the decision to keep my funds in bitcoin, even after the quarantine.”

Jesus Salcedo, a merchant in venezuela.

Bitcoin, a bunker in times of pandemic

A few hours ago, Venezuela recorded 76 new cases of coronavirus and came 2,814 infections, according to the report of local media, while Latin America consolidates its position as the epicentre of the pandemic. However, the venezuelan Government has made announcements of easing of the quarantine and progressive normalisation of the living conditions of a population which has already exhausted its reserves to keep you confined.

Jesus says that they prefer to wait before taking risks before they go out and open their establishment located in a commercial center in the east of the country. He believes that a relaxation of the quarantine will involve a significant growth in the rate of the infection, that will go hand in hand with a greater mobilization of the population.

In Venezuela has become more flexible part of the quarantine, so that the population fears a resurgence of cases. Source: NickyPe/ Envato Elements.

Feel that their funds kept in the “safest area” has been restored calm, and has begun to better manage the fear that is produced in the coronavirus. In addition, be sure that the cryptocurrencies are the money of the future since the population of the world is at your fingertips to experience, learn, and prepare for what is coming.

“Had it not been for that investment that I did, I am sure it would have gone very badly, because I have years of working in my business, from Sunday to Sunday, producing all that I have, and the truth is that when it decreed the quarantine, I was going crazy. Definitely my life has changed since I know Bitcoin because I feel safe”.

Jesus Salcedo, a merchant in venezuela.

The entrepreneur adds that he is aware that hundreds of businesses have suffered devastating losses during the pandemic. It has also witnessed of which many have the intention to survive, which forces them to seek new alternatives. They are motivated, not only to save their companies from bankruptcy, but to save the incomes that sustain their families. He has now understood that the advantages of offering Bitcoin as a payment system, should also be most exploited in the country, particularly for international wire transfers now when Wells Fargo removed the access to the platform Zelle to a number of clients with an address in Venezuela.

His advice to other business owners is to think of the future. You can expect the best but plan for the worst case. He added that the venezuelans, despite everything, you must maintain your mentality and emotional well-being healthy, so there is that limiting meetings with friends, even though these are virtual. Also, it recommends that in situations difficult is not worth to stay looking left-to-right, because each merchant knows his business, its mission and its values; and if you take advantage of all that knowledge, then you already have the answer of what is required to survive in difficult times.

About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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