Venezuelan Petro Available For Public Sale

Venezuelan Petro Available For Public Sale

After months of delay, Venezuela’s dubious cyber-coin Petro has entered the public market. On October 29, the state’s Economy Department informed about the start of Petro selling for legal entities and individuals, even though according to previous predictions, the launch of the public selling was supposed to take place on November 5. 

Petro Finally on The Market

Now the oil-backed state crypto-coin of Venezuela — Petro — can be bought for either public currencies or crypto, particularly, bitcoins or litecoins. This week the country’s economic authority in a twit announced the start and published the link to the special site for purchasing Petro. 

In fact, there are two ways for acquiring Petro — via the above-mentioned website (from Venezuela’s treasury) or from 6 virtual asset exchanges, which are authorized by Nicolas Maduro’s government. 

Where and How to Buy Petro?

Once legal entities and individuals pass the registration and validation processes on the Petro’s official website, they can start purchasing the units. Here are the lists of currencies with which it will be possible to buy Petro.

  1. Fiat
    • US dollars (USD)
    • Euro (EUR)
    • Yuan (CNY)
  2. Crypto
    • Bitcoin (BTC)
    • Ether (ETH)
    • Litecoin (LTC)
    • Dash (DASH)

For now, however, Petro is only available for BTC and LTC.

Among the government-supported crypto-trading platforms where Petro is available are:

  • Amberes Coin 
  • Bancar
  • Criptolago
  • Cryptia
  • Cave Blockchain
  • Afx Trade

Cointelegraph reports that so far none of them has been listed among the best 100 platforms on CoinMarketCap.com.  

It is important to note that it is Joselit Ramirez, Venezuela’s chief of digital assets, who is responsible for the customer support related to the acquisition of Petro. 

From the outset, the launch of Petro was expected to take place over half a year ago. At the end of February, the pre-sale started, while the public sale was planned for March. Maduro’s government noted that Petro is going to be used as an alternative currency to Bolivar.

Image Source: Flickr