[Analysis] Dash isn’t really the ‘most used’ crypto in Venezuela

Dash, a cryptocurrency built to focus on private transactions, is purportedly the "most used cryptocurrency in Venezuela," according to on-stage remarks made by Ryan Taylor, CEO of the Dash Core Group, at Consensus 2019. CoinDesk's Diana Aguilar reports that her investigation of this claim finds it isn't quite true. In 2018, 2,400 businesses in Venezuela reportedly accepted Dash. But accepting it doesn't mean people spend it. Aguilar notes one business owner who said: "We’ve been accepting dash for two years. We currently haven’t received any clients using dash to pay for their events. They’d rather use bolivares or dollars." With only rough estimates for several data points that could support widespread use, Aguilar writes:

"The real growth statistics for the dash market in Venezuela remains an enigma for the Dash team on the ground, making it impossible to compare with other cryptocurrencies such as Bitcoin."

Dash ($DASH) will likely be traded much more widely than it is now though, being considered as a supported asset by Binance U.S. and Coinbase.

Let us know what you loved about the report, what may be missing, or share any other feedback by filling out this short form. All responses are subject to our Privacy Policy and Terms of Service.