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  

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

What is a Security Token?
Security tokens became very popular, but do you really know what is STO?STO is Security Token Offering, which is identical to an ICO. In this, there...
1 in 7 Chinese Piled in Cryptos, Only 2% Not Familiar With BTC
Chinese are not only aware what cryptos are but they also gladly pile funds into them. The survey results are showing that 1 in 7 Chinese citizens...
WSJ: Bitcoin Trading at Strong Correlation With Traditional Assets
Within the past days, the ratio between Bitcoin and conventional assets markets has been high, writes the Wall Street Journal.What Are The...
Bitcoin’s «Dead» in a Long-Run, Says Young BTC-Millionaire
On December 17, on a day when a year ago bitcoin hit the all-time $19,000 record, the «big daddy» MarketWatch journalist, teen crypto-celeb Erik...
SEC Charges DJ Khaled and Mayweather for Misleading ICO Investors
The American SEC charges two celebrities for pumping up ICOs without letting investors know they were paid off for promotion. These celebs are a...
Crypto Venture Capitalist: BTC Investors Need to Endure As Amazon’s Did
Cyber money venture capitalist, CryptoOracle partner Lou Kerner suggested viewing bitcoin as a survivor like Amazon after 1995-2000 dot-com bubble...
Morgan Stanley Report Implies Bitcoin’s New Institutional Asset Class
A novel report from Morgan Stanley, the American multinational investment bank, states that bitcoin attracts more and more institutional investors...
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...
Financial Services Giant Fidelity Launches Crypto Trading Platform
Fidelity Investments, a financial services titan with more than $7 trillion in client assets, has leapt onto cyber-money bandwagon too. This week the...
First Swiss Crypto Asset Management License Issued For Crypto Fund
For the first time in Switzerland Crypto Fund has been authorized to serve institutional patrons in the niche of cyber assets. The document which...