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Trading In Petro Cryptocurrency Starts In Venezuela

12:06 01/11/2018

Petro, the national Venezuelan crypto asset, which caused numerous disputes, has become available for acquisition for other digital assets and fiat money, Cointelegraph reports with reference to Twitter of the Ministry of Economics in Venezuela.


Petro can now be obtained by legal and natural persons who will be registered and identified on the crypto asset's official website.


Besides, it is possible to become the Petro owner on six crypto exchanges, whose activities have been approved by the regulatory body. Bancar, Afx Trade, Cave Blockchain, Amberes Coin, Cryptia, and Criptolago are among them. At the same time, none of them is in the rating of the first hundred trading platforms according to CoinMarketCap on November 1st.


It follows from the message on Twitter of Petro cryptocurrency that the asset can be purchased for US dollars, euros, or Chinese yuans, and for bitcoin, ether, Litecoin, and Dash, though Twitter of the country's crypto association indicates that the token is available exclusively for bitcoin and Litecoin.


The country's Cabinet of Ministers put Joselit Ramirez in charge for the state crypto and related operations as well as for servicing Petro customers.


After Nicolas Maduro, the country's president, announced future Petro trading in early October, a cryptocurrency wallet app became available on Google Play but was later deleted.

Earlier, Reuters concluded that Petro was not used anywhere in Venezuela as part of its own investigation.

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