How to buy Petro, the Venezuelan cryptocurrency: Value and price

Buy Petro, the Venezuelan cryptocurrency is already possible with international currencies. For the Petro ORO, we will have to wait a bit. And Venezuela is betting on Petro as its commercial currency, but what does this mean? As we know, the Government of Venezuela has made an economic restructuring, giving important value to Petro, its own currency, in which it has calculated basic services and now promotes its use as an official currency for transactions of buying and selling real estate, for example. These movements increase the value to Petro although it remains a currency surrounded by a lack of confidence. The currency has been in pre-sale since February, after a token will be created in the blockchain of Ethereum, these tokens are not cryptocurrencies, like Petro, they are digital assets and their value depends on what users are willing to pay for them.

The Venezuelan president, Nicolás Maduro, affirmed that the Petro will be able to be used in transactions around the world as of October for the payment of goods and services; remember that this cryptocurrency will be backed by previous official announcements backed by the country's reserves in gold, oil, gas and diamond. The use of Petro as a commercial currency for international transactions is seen by experts as a way to circumvent the commercial sanctions imposed by the United States on the Maduro Government. Official sources, however, assure that it is a strategy for the economic stability of the nation:

"(With the Petro is sought) to promote international trade and combat the outrages that have produced the fourth-generation war that runs against Venezuela," said Maduro in a national intervention to announce that the Petro becomes the official currency for International trade exchange.

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Petro Oro: Price and registration to buy the new cryptocurrency of Venezuela

So far no one has seen a single Petro in the network since the project began, however the Venezuelan authorities promise that now it will start to work, although it still can not be exchanged for money, goods or other cryptocurrencies such as bitcoin; nor is it listed in virtual exchange houses. It only remains to wait for the exit of this Venezuelan cryptocurrency and to know if it will cover the expectations of those who wait for it.

Petro: The Crypto Currency of Venezuela
Recall that a few weeks ago in the Venezuelan economy has been a monetary conversion to the Sovereign Bolivar, which will quote based on the value of Petro. If you want to know what the petro is, how the petro works, how much a petro costs and more ... Keep reading because here we explain it in detail.

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Price of the Petro
According to the announcements of Maduro, each unit of the Venezuelan cryptocurrency will have a value of BsS 3,600, that is, 360 million strong bolivars. The price of Petro was regulated by the Government of Venezuela at $ 60 per unit. From that value, the new Venezuelan economy turns, giving the cryptocurrency of that country an unprecedented weight, and converting it, for some, into the most influential currency of recent times.

The monetary reconversion of Venezuela makes Petro more valuable than other cryptocurrencies in the world because it anchors the Sovereign Bolivar to its value. The Venezuelan president, Nicolás Maduro, explained that starting on August 20:

"Venezuela will have two accounting units: the first accounting unit will be the Sovereign Bolívar, and the second accounting unit will be the Petro", according to Telesur.

The data: Soon you can also buy Petro Oro, Venezuela's new cryptocurrency based on gold and physical form, although they call it cryptocurrency.

Value of Petro and everything about how to buy Petros
It is not the first time that the Government of Venezuela has tried to give more weight to Petro as a currency: Recently, the Venezuelan government announced it plans to finance the construction of homes for homeless people with the national cryptocurrency Petro, through its housing project for the people without housing.

The Minister of Housing and Housing, Ildemaro Villaroel, explained that technical, financial and logistical tests are underway to begin the construction process. Venezuelan President Nicolás Maduro authorized a budget of 75,000 million bolívares (approximately 750,000 dollars) and 909,000 Petros for new homes.

This is not the first social initiative of the government in Venezuela financed by the national crypto-currency Petro. In May Maduro announced the launch of a crypto bank funded by cryptocurrency to support youth and student initiatives. According to Cointelegraph in early June, the Bitcoin trade has increased significantly this year. The volume of the exchange of Venezuelan bolivars to Bitcoin increased 138% from March to April, and 39% more from April to May.

ABC of the cryptocurrency Petro: Buy or not
The new Venezuelan cryptocurrency has the name Petro and is based on the same model as Bitcoin, the first cryptocurrency created in the world in 2009 and which works with a payment system based on computer files. But how to buy Petro ?, is the question that users are undoubtedly asking since their announcement, what implications will the petromoneda have? It is another question that arises about this creation, as they explain in El Universal

However, there is still no official announcement of what and how will be the way to buy the Petro, what is true is that with its creation this country will venture into the world of digital transactions because through it can be made operations such as payments of goods and services over the internet.

Currently there are more than 600 cryptocurrencies in the world, this disruptive technology (cryptocurrencies) will become little time according to financial experts in futuristic minks of many countries that adopt and adapt to their systems.

In the case of Venezuela, according to the official announcement, the Petro will offer access to new forms of international financing for the economic and social development of this nation. It will also be backed by 326 billion barrels of oil, as well as the nation's reserves of diamonds, gas and gold, they explain in the Venezuelan press.

Another of the announcements in reference to the creation of Petrocoin is that the Blockchain Observatory in Venezuela will be the institutional, political and legal base for the launch of the national cryptocurrency.

According to what is known about the cryptocurrency system, Petro would have the advantages of reducing the cost of the transaction since there is no intermediation, it would reduce time in payment transactions and the elimination of the need to use financial agents to make transactions. Therefore it is no longer mandatory to pay your costs. This could increase the amount of transactions.