I’ve had a difficult time in banks to change money. Plenty of bureau de change around, however, be advised, changing something small like $/Euros/GBP 50, or 100, or even 200 might have a high fees. Preferred amount is usually $300 (or equivalent) and higher. In such a case, you will not be paying the 6% […]
What do you think about a peer to peer foreign exchange platform? Is it possible to get such a robust market where peers directly exchange currencies, without a middle man? It can be an electronic or x-border exchange, requiring no physical presence.
While I believe this model will ultimately be beneficial, the truth is, there are too many bad actors to make this be reviewed and come under the umbrella of a regulatory authority. The crypto exchanges in many ways are doing this, but they are still centralized in many ways. DEX (Decentralized Exchanges) are coming up […]
Can I use USD as cash for ordinary transactions in Venezuela (e.g., taxis, paying for a meal), or do I need to exchange money to get Bolivars?
You can absolutely use US Dollars. They are happily accepted. Most venues will quote you in USD to pay for product/services. With the way things are going int he Venezuelan economy, getting paid in foreign currency is what they would mostly like to get paid in. So, very much accepted everywhere. Don’t even bother changing your money […]
If the petrodollar loses reserve currency status and all major currencies are tied to it, what is most likely to replace it other than cryptocurrency?
There are many ways it could go. Whilst, conventional wisdom would say, the runner-up might take the crown, that might not happen. If one had to wager, one might say that the SDR (Special Drawing Right) could become the currency of choice. The problem is the dominance of the US Dollar is high. In plain […]