Kripto Mobile Partnership Grows Dash’s Users to 10,000 Active Android Wallets in Venezuela
Dash is a payment centered cryptocurrency, with instant confirmation and fees averaging 0.0010 USD. Since August 2018 Dash Core Group’s growth path has been centered on places and industries where Dash can have the greatest fit and solve the greatest need.
Emerging Markets are one of the key areas we have found Dash can solve many of the payment pain points caused by infrastructure problems, especially in those places where inflation and hyperinflation wreak havoc on people’s financial freedom.
So despite the overall slowdown to speculative usage of cryptocurrencies during most of the past 18 months, recent data clearly shows growing trends for Dash. Microtransactions and active Dash addresses have shown an upward tick in growth. You can evidence growth on the average transaction count and active addresses from Bitinfochats website:
Even though the value of Dash, measured by US Dollar, experienced a loss during much of 2018, Dash’s transaction count grew 86%, reaching 20,291 transactions over the past 18 months. Meanwhile, median transaction value dropped over 99% to 5.16 USD over the same period, which points to a decrease from larger, speculative trading movements into lower value, more repetitive transactions, reminiscent of transactions that are used for everyday purchases.
Dash Adoption in Venezuela maintains constant growth
Our partnership with Kripto Mobile fits right into our growth strategy and has provided a new method for potentially introducing Dash to a group of new users, as stated on our December 2018 blog post. Since then, we have seen the Venezuelan economic situation and opportunities change significantly, yet we still see room for cryptocurrencies to achieve massive growth. Dash, in particular, is positioned to flourish because it can solve some of the largest payment and financial freedom problems that exist in the country, and simultaneously, the network can actively fund opportunities for growth that organizations and entrepreneurs in Venezuela and its vicinities wish to solve.
We want to highlight a few of the most significant changes in the country’s economy since we announced our growth strategy:
- Venezuela flexed currency regulation and made it legal to transact currencies different than the Bolivar. So today cash-based Dollar transactions are common all across the country (With Peso transactions taking place on the bordering Colombia region).
- Cryptocurrency trading has continued to lead global volumes in Venezuela, as seen on the LocalBTC site, where large trades for Bolivar into cryptocurrency take place.
- Hyperinflation continues to accelerate, despite the efforts taken by different political and social groups, and
- Venezuelan migration has continued growing and reached 4 million people, as recent United Nations data shows. This migration has focused on the South American neighbors of Venezuela, specifically those with a healthier economic system: Colombia, Peru, and Chile.
Within this context, we are thrilled to announce that Dash usage has continued to grow and we have witnessed a spike in Venezuelan Dash wallets, amounting to an active wallet count of 10,000 users for Android alone! This growth has pushed global wallet count up to almost 35,000 Android wallets globally, from around 30,000 users in the past few months.
This data validates the efforts made to capture the opportunity for growth we identified in Venezuela and means that now Venezuela represents around 30% percent of all Dash Android wallets globally.
Specific key drivers for this growth are:
1- The relentless work of the larger teams in Venezuela (Dash Venezuela, Dash Connects, Dash Text, Dash Help, and Dash Latam), which have made Dash the standard for cryptocurrency usage, as we can see by third-party video reports. All this, enhanced with adoption activities happening simultaneously in the more than 27 Dash communities spread all over the country.
2- Growth of the Venezuelan cryptocurrency market, driven by interest from multiple coins and exchanges, plus the validation of cryptocurrency usage on larger merchants such as TRAKI (Where Dash transaction superiority is evident when used next to other coins).
3- Organic, natural growth due to the curiosity of people looking for ways to solve payment problems with Cryptocurrency, such as this Twitter user who discovered Crypto acceptance in Traki stores.
4- New Dash partnerships providing remittance options into the country, such as the integration of new exchanges in neighboring countries such as Colombia and Brazil.
5- Kripto mobile phones beginning to emerge from the supply chain process into retail sales and activating as Dash wallets for the first time.
Wallet Growth in Venezuela achieves new heights
Kripto Mobile has become a key component to our growth in Venezuela; its sales channel validated our findings and confirmed they have seen enormous growth in customer sales. This feedback supports the incredible uptick of active wallet counts for Dash for the last two quarters:
After careful examination of data, it was evident the growth in wallets of around 4,000 units in Venezuela correlates directly with first time installs from out of the Google Play store (As these phones are preloaded with the app), which also correlates to the increased number of Kripto Mobile phone wallets globally.
As this data shows, Kripto Mobile added close to 9,000 new wallets for Dash globally; and as they sold a large percentage of their units into Venezuela, we conclude they are rapidly accelerating wallet growth in Venezuela for Dash.
What is next? How will we leverage this growth?
At Dash Core Group we have seen the best opportunities arise when we promote a full Dash ecosystem, so we will continue working on the acquire-store-spend process in Venezuela:
1- We will continue improving user acquisition processes with Kripto Mobile phones, and its parent company. It is obvious we found a way to put Dash in front of thousands of people, and now we must help to make Dash easy to use.
- We are considering enabling a DashText option for easier onboarding of first-time users and improved user experience with Kripto Mobile.
- We will deploy specific marketing activities to convert Kripto Mobile users into Dash users
2- We will continue to onboard large and medium-sized impactful retailers that validate the usage of Dash in Venezuela, and show how much value Dash offers in the current situation.
3- We will continue growing the Dash ecosystem in Venezuela by connecting communities and businesses with technology providers that have the solutions for specific needs that enhance usability and increase Dash adoption.
4- We’ll continue to onboard exchanges and platforms to Dash where Venezuelans have migrated, so those who have fled the country can get acquainted with Dash, understand how to use it, and evidence how Dash is a better option for sending money to the people they love.
We are confident these steps will continue to increase Dash usage on this part of our growth strategy, as making Venezuela the first Dash nation will validate the value of cryptocurrency, and will take Dash to higher levels of adoption as we discover real usability and benefit for everyday transactions for Dash in Venezuela and beyond.
Big thanks to Michael Seitz for taking this document from a draft, into a finished good as well as Brian F, HashEnginering and Sam B, for helping in the hunt for accurate data.
