According to reports, Venezuelan Vice President Tarek El Aissami confirmed Friday that the country's oil-backed cryptocurrency is now officially publicly available for purchase. Anyone can buy the Petro on its website using currencies such as Chinese yuan, Russian ruble, Turkish lira and euro. You can also buy Petro with virtual currencies like Bitcoin, Ethereum, and the New Economy Movement.
Petro generated over five billion U.S. dollars from buyers from more than 133 countries during the pre-sale period. El Aissami said the money was "enough to build a million new homes in Venezuela."
The Venezuelan government launched the digital currency in an attempt to overcome economic difficulties caused by sanctions imposed by the United States and the European Union. In January, United States officials warned potential investors in Venezuelan cryptocurrency due to the risks connected to penalties imposed on Caracas. Last Tuesday, President Donald Trump banned the use of the Petro. He referred to it as a 'scam supporting a dictatorship.'
Training centers were opened by the Venezuelan government in order to help the public, especially young people, learn more about virtual currencies and how to carry out transactions. The Venezuelan petro is the world’s first state-backed cryptocurrency. Its value is tied exclusively to the country’s oil reserves.
Source: xinhuanet.com
