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Crypto Adoption on the March, Dash (DASH) Android Wallet Usage Surges 627% in Venezuela

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Tue, 02/04/2020 - 19:10
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  • Building reliable financial ecosystems in failed states is a great cryptocurrency use-case. Dash (DASH) reports a rapid surge in native Android wallet usage in Venezuela.

Cover image via 123rf.com
Contents

During the Q3-Q4 of 2019, the exchange rate of Bolivar Soberano (VES, also Bs) declined by almost 900% against the U.S. Dollar. This hyperinflation finishes off the national remittance system. Cryptocurrencies have become the one and only tool of exchange here.

DASH: Ultimo refugio

It has become common for citizens of Venezuela to utilize Dash (DASH) cryptocurrency for everyday payments, both domestic and cross-border. Low-cost, Android-based smartphones act as a hardware basis for the system. Thus, the statistics for Dash wallet app usage are a reliable indicator of crypto adoption.

Mark Mason, director of media and PR in Dash, reported that 

There has been a 627.47% increase in active android devices using Dash wallet app in Venezuela between May 2019 to January 2020.

He outlined that this statistic doesn't count application installations which is typical for such type of calculations. Acording to him, by 'active', he means only devices that have been online at least once in the past 30 days.  

Usage of Dash Android Wallets in Venezuela Surged 627% in 6 months
Image by Twitter

Blockchain fixes this

Venezuela is not the only country where cryptocurency has replaced a national financial system. During his November African trip, Twitter CEO Jack Dorsey emphasized that cross-border crypto remittance is the last hope for sub-Saharan Africa. 

Must Read
Twitter's CEO to Support Bitcoin in Africa - READ MORE

Also, EOS-like blockchain Telos has already launched its token pegged to the South African Rand called the eZAR. Numerous African nations are in the process of deploying stablecoins.

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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Bitcoin (BTC) Scammers Impersonate Bill Gates and Endanger Almost 30K YouTubers

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Sun, 03/29/2020 - 19:38
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  • Bitcoin (BTC) scammers know no quarantines or self-isolation. Dozens of fraudulent airdrops falsely endorsed by Bill Gates ask YouTubers to send in their Bitcoins.

Cover image via stock.adobe.com
Contents

Typically, fake YouTube airdrops are quite similar to each other. With the current pandemic enraging across the planet, a series of scams that impersonate Bill Gates have some distinct features.

With Bitcoin (BTC) Price Drop, Scammers are Getting Greedy

Just like in several other previous cases, the fraudsters launch fake 'live streams' on YouTube, asking users to send in their Bitcoins (BTC) in order to get redouble the initial amount.  An 'entry ticket' into to this scam starts at 0.1 BTC which is more than $650. With previous scams, it was much cheaper.

Fake YouTube Bitcoin (BTC) airdrop
Image via YouTube

The scammers also publish the URLs of this campaign, which are linked to suspicious websites. Unlike previous cases, fraudsters launch multiple live streams simultaneously. At press time of this article, at least two of them were active.

Multiple scam streams on YouTube
Image by YouTube

According to statistics, the average popularity of one live stream is about 30,000 viewers.

Very Bad Idea

Alongside that, launching fake airdrops on behalf of Microsoft's Bill Gates isn't a slam dunk for the fraudsters. It may seem ironic, but Mr. Gates is a prominent critic of cryptocurrencies, particularly of Bitcoin (BTC). He is sure that digital assets represent a kind of a ‘greater fool theory’ type of investment.

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Cryptocurrencies kill, added Mr. Gates. To him, its only use-case besides short-term speculations is illegal funding for drug trafficking:

Right now cryptocurrencies are used for buying fentanyl and other drugs, so it is a rare technology that has caused deaths in a fairly direct way.

The U.Today team will one more time state that no airdrop will be conducted without the notification from an official website of a product or token. Any YouTube, Medium, and/or Telegram announcements may shill scammers. Never send your money to unknown persons.

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 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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