Venezuela has the world's largest oil reserves and approximately the eighth-largest natural gas reserves. It is rich in gold, iron ore, bauxite, and coal reserves, and has one of the largest forest areas. However, its per capita GDP ranks 130th, making it the lowest in South America in terms of GDP ranking. A bad hand played badly, with hyperinflation being very severe, and $USDT is the actual currency in circulation locally. Buying groceries, paying rent, salary payments, and merchant settlements are all done through Binance P2P transactions.