Due to the issue of bad internet services faced in the country, a Venezuelan Cryptocurrency exchange company, Criptolago has recently created an offline payment system for the transfer of cryptocurrency. With this platform, the citizens of Venezuela can now transfer crypto without an internet connection.
The Venezuelan President, Nicolas Maduro, spurred this action when he made a statement urging crypto companies to create a payment system that could work similarly to that of the conventional banks.
This system doesn't work with only Petro, the Venezuela official cryptocurrency, it can also be used with BTC, Dash, LTC and Glufco.
The registration procedure is really easy, but right now, this platform can only be used by already registered users. The major issue is getting a friendly rate for Petros.
Offline Crypto Transfer in Venezuela
For two years, the citizens of Venezuela have been using text messages to make crypto payments, this was way before Cryptolago. One very common platform is the offline wallet, Dash Text.
Dash Text is really simple to use. All users have to do is to send a text message, simple! The platform handles the rest. All this is done in real-time.
Right now, Dash Text has over 8,000 active users across several countries including Brazil, Colombia Spain, the United States and of course Venezuela. Since January 2019, about 6,456 transactions have been conducted using Dash Text with Venezuelans making over 90% of those transactions.
Source: Decrypt
