Tanya Abrosimova
Independent Analyst
- Venezuelan Economy Department published infographic explaining how to buy Petro
- The coin will be available via the dedicated website and six authorized exchanges.
The only state-owned cryptocurrency Petro, issued by Venezuela, can be purchased for fiat money, according to the official announcement made by Venezuelan Economy Department on Twitter.
The infographic attached to the post, explains that Venezuelan citizens can purchase Petro for yuan, Euro, USD and a number of digital currencies like BTC, LTC, ETH, and DASH, directly from the Treasury or via six cryptocurrency exchanges authorized by the government.
To buy coins, companies and individuals should follow the registration procedure and validate their identities on the official website of Petro.
This announcement contradicts the information obtained from the National Cryptocurrency Association. It states that the coin is available only for BTC and LTC. However, contradictions are quite natural for Petro, which is controversial by its nature.
The government appointed Joselit Ramirez to the post of a superintendent of crypto assets and related activities. He will be responsible for sorting out customer issues that might arise in relation to Petro.
Currently, there are six cryptocurrency exchanges authorized by Venezuelan government - Bancar, Afx Trade, Cave Blockchain, Amberes Coin, Cryptia, and Criptolago.
Meanwhile, earlier this month Nicolas Maduro announced that the oil-backed coin will be available for public sale on November 5.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Altcoins to pump once BTC bottoms out, slow grind up for now
Bitcoin price reclaiming above $59,200 would hint that BTC has already bottomed out, setting the tone for a run north. Ethereum price holding above $2,900 keeps a bullish reversal pattern viable despite falling momentum. Ripple price coils up for a move north as XRP bulls defend $0.5000.
Jack Dorsey's Block is under investigation by US Prosecutors for crypto lapses, says NBC
According to a report from NBC on Wednesday, former Twitter CEO Jack Dorsey's company, Block, is under investigation by the US federal government. The allegations against the company are charges of processing transactions linked to sanctioned countries and even terrorists.
Ethereum attempts comeback after Fed decision not to tamper with rates
Institutional whales appear to be dumping Ethereum after recent dip. Fed’s decision to leave rates unchanged appears to have helped ETH's price recover slightly. SEC Chair Gensler has misled Congress, considering recent revelations from Consensys suit, says Congressman McHenry.
Solana price dumps 21% on week as round three of FTX estate sale of SOL commences
Solana (SOL) price is down almost 5% in the past 24 hours and over 20% in the last seven days. The dump comes as the broader crypto market contracts with Bitcoin price leading the pack as it slides below the $58,000 threshold to test the Bull Market Support Band Indicator.
Bitcoin: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.