Disclaimer: #Ratimov's-style posting.
https://bitcointalk.org/index.php?topic=5297144.0
https://blog.localcoinswap.com/es/protegete-de-la-hiperinflacion-con-dai/Protect Yourself from Hyperinflation with DAI
In most Latin American countries the US dollar is taken as the currency of safe haven , in countries like Argentina and Venezuela where inflation (or hyperinflation in the case of Venezuela) is a factor that is present in the day to day, buying dollars is a routine part of life for all its inhabitants. But buying dollars is not always easy, whether it is because of various laws imposed by the countries or the simple fact of being able to be swindled with counterfeit bills, buying physical dollars can sometimes be more of a problem than a solution.
For this reason, several companies have emerged offering more efficient methods for buying and selling dollars, although they are not exempt from other inconveniences such as the need to disclose users' personal data or having to pay high fees of up to 5-10% of your transaction if you want to send dollars through their platforms. For this reason, the irruption in the world economy of crypto currencies has meant a turning point that offers a helping hand to all users globally.
Dai, your shelter against hyperinflation
Hyperinflation is a type of inflation that consists of a massive increase in prices, during a determined period of time. In Venezuela, hyperinflation started in November 2017, when the monthly inflation rate was 56.7% and the annual growth rate was 1370%, during which time the issue of 100,000 bolivar bills was announced, which is considered the most serious hyperinflation in the world.
Consequently, it is evident the need of the citizens to get rid of their strongly devaluated local currency to take refuge in a stable currency like the dollar and here Dai, the decentralized stablecoin of MakerDAO comes into play. Dai is a stable currency with a value that reflects the value of the U.S. dollar, in essence it is a cryptomoney that lives in the Ethereum blockchain, protected by a system of smart contracts and a diverse amount of collateral that supports its value in greater amounts than its issuance to make it a robust stable currency.
In inflationary situations such as those experienced by Venezuela, Argentina and other countries, DAI comes out being very beneficial for the population of these countries, since, it is easily interchangeable both in national exchanges and in person to person transactions for FIAT money (Bolivars, Argentinean Pesos, etc), without leaving behind its accessibility of emission by means of some collateral by any person thanks to the Maker protocol.
It is worth noting that unlike physical dollars, no one can censor or restrict what you can do with your IADs. For this reason, IAD is of great help in situations like the one that is happening in Venezuela, Argentina and other countries around the world.
How to buy and sell DAI safely
To start using DAI all you need is an internet connection and a device where you can download a wallet, which is a software (app), that allows you to store your crypts. You can see it as a bank account where you have an address or account number where you can send and receive money.
You must also keep in mind that you must save your seed phrase and/or private key of the wallet, which is a code that you must keep in case you lose or misplace your wallet, since this is the only way to recover access to it.
Through the digital platforms that we have available today, there are several ways to access Dai, from the purchase of DAI in an exchange or home exchange, among others. Thanks to LocalcoinSwap we have a platform where we can securely access a fairly large P2P (Person to Person) market with various payment methods to exchange our Fiat money for DAI or vice versa.
In the case of Localcoinswap we only need an email to register and then we can create our Buy or Sell orders in the platform without the need to compromise our DAIs just to create an offer. LocalCoinSwap is Non-Custodial which means that it allows you to make the transaction from wallet to wallet making your transaction more secure.
You don't have to deposit your IADs with LocalCoinSwap to buy and sell! If you do not have a wallet, you can create a Non-Custodial wallet on LocalCoinSwap, which only you will have access to. Remember to keep your private keys in different places.
Send money quickly and easily around the world, send DAI
As of November 2019, the Venezuelan economy has become dollarized, so much so that a report estimates that 54% of purchase and sale operations are carried out in dollars. According to Ecoanalítica, a national pollster, more than four million Venezuelans living in foreign countries send remittances to their relatives with which they support the family economy.
As we have already commented, having a crypto wallet or wallet we already have the possibility of sending and receiving DAIs anywhere in the world, no matter the time, no matter the limits and no matter our social status, sending IADs is as easy as having the public address of the person who is going to receive our IADs and simply sending them. All this makes IAD a perfect currency for remittances.
Remittances play a fundamental role for many Venezuelan families. When talking about remittances with DAI, it is to eliminate all intermediaries between the banking and the most known international transfer systems, to find a cheaper and safer alternative that works 24 hours a day, 7 days a week without restrictions or censorship. So, there is no point of comparison when we talk about the power of crypto currencies in the field of international transfers, it has never been so easy to send money from and to any part of the world.
With this Dai is gaining ground because of the real need of the population, since it is an easy and fast way to acquire digital dollars. And therefore, platforms such as LocalCoinSwap help this adoption to be much higher all over the world, including countries with economic difficulties and restrictions such as Venezuela.
Register today and start trading with DAI, so you can have the benefit of sending and receiving a stable currency that is totally decentralized and of which only you have control. By purchasing IAD at LocalCoinSwap, you will be able to protect yourself and your family from hyperinflation.
Reference:https://blog.localcoinswap.com/es/protegete-de-la-hiperinflacion-con-dai/
AHA, it only took me three minutes to write!
