The pillar of this project is the existence of Petro as a state-supported digital coin backed by natural riches of its native country. Update 21.02.2018: According to QZ com, the Petro (PTR) will reportedly be sold in hard currency and other cryptos, not domestic bolivars, and Venezuela says it will enable so-called atomic swaps with other cryptos, which doesn’t require a third-party exchange. This Triple-Gainer 5G Stock Next to Be Bought Out for Big Dollars. Wait for the feeling to pass 3. https://www.profitconfidential.com/wp-content/uploads/2018/02/petro-300x225.jpg. Prices. Pot Stocks Drop, but Is Now the Time to Buy or Sell? You can directly put the wallet address of that specific coin and buy. While that answers the question, “What is Petro cryptocurrency (Petro coin)?” there are some things to know about this latest entrant into the cryptocurrency ecosystem. 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The Petro currency will act as a form of legal tender that can be used to pay taxes, fees, and other public needs. Petro gold. Maduro’s ‘petro’ is just another elaborate pump-and-dump scheme.” (Source: “Twitter Post,” @steve_hank, February 18, 2018.). Where to buy “Petro” cryptocurrency (PTR) February 21, 2018 November 15, 2020; In the cryptocurrencies, the Venezuelan authorities are looking for help for the economy. Add our heatmap to track cryptocurrency market prices. Not Trading. What is Venezuela’s new petro cryptocurrency? or from cryptocurrencies like BTC, ETH, USDT, XMR, LTC, NEO, etc. (Source: “What is Venezuela’s new petro cryptocurrency?,” Al Jazeera, February 20, 2018.). Now for the moment you’ve all been waiting for: how to set … The last several years have brought great economic difficulties for the country of Venezuela, whose native currency, bolivar, suffered a great loss of value due to extreme inflation. You can buy, sell or trade Petro (PTR) on more than 10 exchange listed above. Selling this i… To buy Petro Coin you will need to participate in the Pre-Sale which is currently going live. . The Petro cryptocurrency project is a national oil-backed digital currency that was launched by president Nicholas Maduro back in December 2017. As for storage, the Petro currency wallet will have a GUI version that is easy to use and can be installed on “Windows,” “Mac OSX,” “Android,” and “iOS.”. Even if President Maduro wins the next election (and is still optimistic about his big project) and other exchanges support the cryptocurrency, Petro may still be the cause for a lot of controversies. The pre-sale and initial offer of the Petro currency will be made in hard currencies and in cryptocurrencies, not the Venezuelan bolivar. All things considered, it is still too early to determine Petro’s future potential. From whichever angle one looks at it, the entire project is mired in controversy. Early investors in the Petro were invited to buy the cryptocurrency by wiring funds to a Venezuelan government account at Evrofinance. You can select some of above exchanges to buy Petro (PTR) with USD, INR, CAD, EUR, GBP, RUB, etc. An honest review of Petro (PTR), the latest cryptocurrency launched by the government of Venezuela, and why it faces an uphill battle. Also, you can use the same exchanges to trade Petro (PTR) against cryptocurrencies like BTC, ETH, LTC, ETC, XMR, USDT, BNB, etc. This is a tough one. Step 1: Click on Buy Petro (PTR) from Exchange button. El descuento es del 30% si el país utiliza Petro para el pago, porque el petróleo Venezuela ofreció un descuento del 30% a la India en las Según el director ejecutivo de Coinsecure, Mohit Kalra, Petro debe ser negociado contra Bitcoin y Rupia. Petros will be “pre-mined,” meaning the government will produce and control it. This is FREE from Profit Confidential. Launched on the same day as the cryptocurrency’s pre-sale, the web site is hosted and maintained by the country’s leading tech university: Ministerio del Poder Popular para Educación Universitaria, Ciencia y Tecnología (MPPEUCT). Description. Petro tokens could be exchanged through virtual exchange houses. Venezuela Sold $5. Step #2: Choose “Persona Juridica”, in case you are applying as a company, or choose “Persona Natural” in case you are an individual. Setup and Secure Cryptocurrency Wallet. That’s obviously not the case here, as every aspect of the cryptocurrency is overseen by the government. In fact, a few Brazilian companies have agreed to sell food in Venezuela in exchange for Petros starting on February 20. According to President Maduro, Petro is intended to supplement the Venezuelan bolívar fuerte (VEF) currency. Live Petro (PTR) Price, Historical Chart & Petro Market Cap. Read Full Bio. https://www.profitconfidential.com/cryptocurrency/petro/how-where-to-buy-venezuelan-petro-cryptocurrency-ptr-and-more-facts-to-know/, How & Where to Buy Venezuelan Petro Cryptocurrency (PTR) And More Facts To Know, what is petro cryptocurrency (petro coin). Though it was announced in December 2017, it was officially launched on February 20, 2018. Evrofinance’s involvement in the Petro demonstrated Maduro’s hope that the Petro would allow Venezuela to circumvent U.S. financial sanctions.” The whole country, on the other hand, is not ready to commit. Step 4: See if the exchange support fiat currency or cryptocurrency or both. The full use of the token is expected to begin in April. What is Venezuela's new petro cryptocurrency? If President Maduro does not win the next election, there is every chance of Petro being nullified. It is currently trading on 1 active market(s) with $0.00 traded over the last 24 hours. A button that says 'Get it on, Google Play', and if clicked. Sit on your hands 2. The Venezuelan State will not be able to make new emissions Petro. It is a News Media Platform which serves its audience with accurate News and Analytical Articles. The president of Venezuela, Nicolás Maduro, has recently announced the creation of a national cryptocurrency backed by the nation’s oil, gold, gas, and diamond reserves, called the Petro. It’s the world’s first sovereign cryptocurrency as it will be produced and controlled by the Venezuelan government. Join our mailing list to get regular Blockchain and Cryptocurrency updates. Step #3: Enter your Full Name, choose “Passport” from the ID drop down menu and Email Address. Not surprisingly, the U.S. Treasury has warned investors to steer clear of it. Users are able to generate XPD through the process of mining. One of the big selling points of cryptocurrencies is that they are free from the control of any state or central bank. The website is unsecured and its in Spanish so you will need to use some translator. Which cryptocurrency (e.g. As such, Petro can be arguably described as a “politicized” cryptocurrency since its goals go beyond meeting the users’ or markets’ needs. Once the initial stage is completed, there might be the option of exchanging Petros for bolivars. As Petro is still in its early stages, PTR is … twitter. Will Marijuana Stocks Be the Next GME Stock & Grow Exponentially in 2021? ...when you opt-in for our daily e-letter, Profit Confidential and the special offers that come with it! A global crowdfunding campaign was announced by the government as part of bolstering up up the project. Petro is the first coin issued by a federal government and this is the first of it’s kind although it has … While one might wonder whether the Petro currency supply limit will ever reach the 100-million mark, the more important questions should be: How does Petro work and where to buy Petro cryptocurrency. Here's how and where to buy Petro with everything investors need to know about the new kid on the crypto block. Also if you are looking to trade cryptocurrency Binance & Bittrex are the exchanges we recommend. Petro is part of the Venezuelan government’s initiative to overcome the U.S.’s economic blockade against Venezuela. According to the Venezuelan government more than $5 billion were raised through this initiative but experts have disputed those … For full details on how to buy Petro Cryptocurrency, one can refer the  Per Telesur, a user manual that is available in several different languages. On 21 February 2018, petro gold, a gold-backed cryptocurrency, was announced in a televised speech given by Venezuelan President Nicolás Maduro. PetroDollar (XPD) is a cryptocurrency . This $1 Marijuana Stock on the Verge of Breakout? The only place where you can buy Petro Cryptocurrency for now is from the official website. You can unsubscribe at any time. Currently, Venezuela is reeling under U.S. government-led sanctions that make moving money through international banks difficult. The ICO will start on the 20th of March, 2018 and will last until all the tokens are sold. As Petro is still in its early stages, PTR is only available on the official blockchain observatory. Step 2: You will be redirected to the exchange. If you try to purchase from another place you will most likely lose your money is it is most likely to be a scam site. Step 3: Sign up if you do not have an account with that exchange else log in. Our team is committed to providing unbiased News & Reports related to various Cryptocurrencies, Decentralized Apps, Initial Coin Offerings (ICOs) and Blockchain technology. “We welcome all those who will invest in finance and banking sectors, and in the cryptocurrency Petro,” he said. Find out the latest Petro (PTR) price, market cap, charts, news, compare crypto assets and other data on COIN360. Is Canopy Growth Stock Still the Top Canadian Pot Stock? Step #1: Open Petro Coin Pre Sale Website. Step 1 : Open Petro Coin Pre Sale Website (Update Oct 2018: Closed for outside of Venezuela ) “Petro is born, and we are going to have a total success for the welfare of Venezuela,” President … You can buy, sell or trade Petro (PTR) on more than 10 exchange listed above. Historical The Petro (PTR) cryptocurrency was first announced in December 2017 and have made its way into the crypto world in February 2018. The government also announced the creation of a “blockchain observatory”—a software platform for buying and selling virtual currency—around the same time when it begins a private sale of the token next month. The digital currency will be backed by five billion barrels of oil allocated by Venezuela. Our young and dynamic team is comprised of well-known journalists as well as Cryptocurrency & Blockchain Experts. Soon, there will also be many merchants providing goods and services, where you can go with your Petro and exchange it for a product or service. We have complete guide on how to trade on this exchanges, check it out: Binance Trading Guide VENEZUELA’S oil backed el Petro cryptocurrency aims to pull the failing country out of the depths of economic crisis. To further support the project, the Venezuelan government details its plans and expectations for Petro in a new web site built for the cryptocurrency. Credit Card is NOT required. Venezuela's national tax harmonization agreement has been signed by the council representing 305 municipalities. Note: If you are going to buy from Shapeshift or Changelly you do not have to create an account. Buy Petro Cryptocurrency. U.S. “Petro is born and we are going to have a total success for the welfare of Venezuela,” said Venezuelan President Nicolás Maduro at the launch. According to Harry Colvin, director of Longview Economics Ltd, given that Venezuela has been known for misappropriation of assets in the past, there’ll be major trust and transparency issues. Although “petro” will not heal it, it will certainly be a source of money that is missing from the state. Petro mining commenced in the second week of January and the cut-off time was February 21. Each Petro will be backed by a barrel of oil and will be sold at the same price, according to the government. Bittrex Trading Guide, Meme Cryptocurrency Dogecoin (DOGE) Has Been on Fire After WallStreetBets & TikTok Investors Jump On Board, Digital Asset Manager Arca Gets $10 Million In A Series A Funding Round. The value of the coin is supposed to be backed by the country’s oil reserves, but details about the coin and its inner workings are scarce. In choosing to back its petro with petroleum, the country has joined a small but growing number of cryptocurrency issuers linking the value of their tokens to physical commodities. You can select some of above exchanges to buy Petro (PTR) with USD, INR, CAD, EUR, GBP, RUB, etc.Also, you can use the same exchanges to trade Petro (PTR) against cryptocurrencies like BTC, ETH, LTC, ETC, XMR, USDT, BNB, etc. Petro’s developers see it as a tool to“revolutionize the world economy” and a project that will use blockchain technology to bring about an end to the centralized financial hegemony and help the countries build a “multipolar world”. © Copyright 2021: Lombardi Publishing Corporation. The Petro is a cryptocurrency issued by the government of Venezuela. How To Buy: Venezuelan Petro Cryptocurrency ICO Pre-Sale The pre-sale and initial offer of the Petro currency will be made in hard currencies and in cryptocurrencies, … Home » Cryptocurrency » Petro » How & Where to Buy Venezuelan Petro Cryptocurrency (PTR) And More Facts To Know, Mohan Garikiparithi BTC Donations Spike After Moscow Airport Arrest for Russian Opposition Leader, Alexey Navalny, Canadian Firm Files for New Bitcoin ETF Application; Gemini to Become Fund's Sub-Custodian, Poolin Debuts an ERC-20 Token to Contribute into the DeFi Ecosystem, Featuring a Yield Farming Protocol, Bitcoin Can Surpass $100k But Price Will Be Unsustainable According to JP Morgan Strategists, Israeli Startup Launches Tool That Allows Users To Reverse ETH Transitions, Ethereum’s Scalability Issues Will Be Eliminated with ETH 2.0; GAS Fees On the Rise, Vitaik Buterin Shares His Long Term Vision For Ethereum Network And The Upcoming ETH 2.0, Ethereum Based DeFi Platform, bZx, Loses $645,000 In Second Exploit, Dogecoin CEO, Elon Musk, Leapfrogs Jeff Bezos to Become the World’s Richest Person, Crypto Catch Up Event to Feature Teeka Tiwari’s Top Crypto Picks, MakerDAO Community Approves the First Tokenized ‘Real Assets’ As DAI Stablecoins Collateral. 82.4 Million Tokens: Venezuela Officially Launches ‘Petro’ Cryptocurrency Pre-Sale, 5 Best Marijuana Penny Stocks Right Now After States Prefer Marijuana Legalization, NEO Coin and Its Applications: Places Where You Can Use NEO Coin. Venezuela is currently in the throes of an economic crisis, with the national fiat currency- the Venezuelan Bolivar- worth less than “World of Warcraft” gold. Petro’s on sale during the Initial Offer will be created and sold through an auditable mechanism in the blockchain. Petro (PTR) is the latest coin to join the cryptocurrency bandwagon. Here’s how to buy petro cryptocurrency in India: 1. Venezuela has authorized six cryptocurrency exchanges to start selling its national cryptocurrency, the petro, according to the government’s website. buy petro cryptocurrency The Petro is a cryptocurrency issued by the government of Venezuela. The price of the Petro cryptocurrency will be tied to the price of a barrel of Venezuelan oil. Venezuela’s own opposition party has called the project a corrupt forward sale of Venezuelan oil. The last known price of PetroDollar is 0.02083712 USD and is up 3.96 over the last 24 hours. Steve Hanke, an economics professor at Johns Hopkins University, was even more brutal in his assessment of the Petro cryptocurrency potential, saying, “Anyone who would waste money on such an obvious sham is a fool. CryptoGround.com is an independent publishing house that provides Cryptocurrency & Blockchain Technology News. Unfortunately, as of now, there are not too many exchanges that support Petro. The total trade volume of Petro in last 24 hour is around USD. The total trade volume of Petro in last 24 hour is around USD. Step 5: Deposit the currency it supports and buy the currency you want. Marijuana Legalization Could Decide Future of Canadian Marijuana Stocks, Smart Investors Getting Ready for 2nd Wave of Marijuana Stock Gains in 2021, MaxLinear, Inc.: 5G Semiconductor Stock Bucks the Sell-Off; Up 10% in 2021, Mind Medicine (MindMed) Inc Looks Bullish on Growing Acceptance of Psychedelics. On this occasion, Maduro issued a plea to anyone willing to part with hard currency in exchange for Petro cryptocurrency, one of the remaining means by which the long-sanctioned regime is able to finance its operations. No part of this document may be used or reproduced in any manner or means, including print, electronic, mechanical, or by any information storage and retrieval system whatsoever, without written permission from the copyright holder. Steem Hard Forks, Hive Supporters Lose $5M, Justin Sun Takes Shots at Ethereum; This is Crypto. President Maduro believes a government-backed cryptocurrency will allow the Venezuelan government to regain control over its finances and help overcome U.S. sanctions. Though President Maduro previously announced that they would be issuing 100 million tokens, currently there are only 82.4 million units available. List of Petro (PTR) exchanges with the real-time price from where you can buy Petro, Sell Petro or Trade Petro (PTR) from fiat currencies like USD, CAD, INR, EUR, etc. (Source: “82.4 Million Tokens: Venezuela Officially Launches ‘Petro’ Cryptocurrency Pre-Sale,” CCN, February 20, 2018.). We strive to help our readers gain valuable, trusted insights through in-depth analysis, high-quality and well-researched News stories and views from the digital currency community experts. All rights reserved. Petro (PTR) rating 4.5 out of 10. Venezuela’s Petro: National cryptocurrency that failed. The petro, which recently became a Venezuelan national currency, can now be purchased at the six exchanges, local media report. The aim of this cryptocurrency as claimed by the Venezuela government is to help source fund from the international crypto market to finance the country’s oil and mineral reserves. According to Venezuelan Cryptocurrency Superintendent Carlos Vargas, Venezuela would pay for imports from Brazil using the Petro cryptocurrency. The second phase of the petro launch involves a public sale of 44 million tokens. How to buy petro cryptocurrency in india. ICO detailed information, whitepaper, start date, end date, team, token price, roadmap, airdrop and bounty campaigns. Petro coin price: What is el Petro cryptocurrency and can YOU buy some? PetroDollar has a current supply of 63,993,274.88725676. 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