Up to this day virtually every article about it, and there are a lot, refers to the Petro’s mysterious quality in one way or another. October 10, 2018 Based on the same the Cryptocurrency Market goes up or down. The supposedly crude oil-backed Venezuelan Petro cryptocurrency is retaining a value of almost $59 according to the official government calculator, diverging far from the current market price of about $27.70. $100 Worth Of BTC Daily! It is currently trading on 1 active market(s) with $0.00 traded over the last 24 hours. Users are able to generate XPD through the process of mining. The last known price of PetroDollar is 0.01198422 USD and is down -10.07 over the last 24 hours. The revival of the use of petro, of all cryptocurrency systems, the use of blockchain technologies, the development of the Patria system, and the … Users are able to generate XPD through the process of mining. Late last week, Venezuela’s President Nicolas Maduro ordered a hike in the value of the country’s state-sponsored cryptocurrency ‘el petro. The oil backing the currency is meant to counter volatility, which is a common characteristic of most cryptocurrencies. Selling this … The tweet in which he asserted this claim said the amount was CNH4.777bn. Whether or not this Petro Crypto will take the order of the day in Venezuela and eventually the world in terms of being an asset has been subject of predictions. At current prices ($62 a barrel) 100 million petros could help raise around $6bn. Maybe they’re covering their bases and I probably am too, but that doesn’t make the Petro any less mysterious. Overview. Since cryptocurrencies are traded world wide, the PTR value is also effected by different Cryptocurrency News & Policy updates around the world. It is on the #3209 place among all cryptocurrencies. Even government-owned banks appear to disagree. It’s a niche worth trillions of dollars. supply is not available. Check out our snapshot charts and see when there is an opportunity to buy or sell. Venezuela To Launch ‘Petro’ Cryptocurrency By Tsvetana Paraskova - Dec 04, 2017, 9:30 AM CST Petro will be a sovereign crypto asset backed by oil assets and issued by the Venezuelan State for the development of an independent and transparent digital economy open to direct participation of citizens. Track your favorite coins. So what exactly is an oil-backed cryptocurrency? This is according to a January white paper issued by the Venezuelan government. Lowest cost PETRO is recorded on the crypto exchange BitMart. Cr… The main objective of cryptocurrencies is to be decentralized and free from third-party and governmental control and the Petro is neither. Subsequently, a lot of people are thinking to trade Petro (PTR) Cryptocurrency, seeking more profits in the future. ICOindex.com categorizes the Petro as a scam, saying there’s a lack of key technical information including how the cryptocurrency is actually backed by oil, as well as concerns the Venezuelan government won’t be able to manage complex blockchain technology. The official el Petro website states: The Petro (PTR) will be backed by the Bolivarian Republic of Venezuela and the wealth of its large crude oil reserves. Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Users of BlockFi mistakenly credited with much Bitcoin in the payout promo, Amid $15K price dump, nearly a quarter of unique Bitcoin wallets at a loss, Review of cryptocurrency rules-New OCC head, Michael Hsu, Digital collectibles platform Terra Virtua has been joined by Lego and Disney veteran, Crypto is not a real asset amid 30% dip and it has weak fundamentals- Luis de Guindos. How To Buy: Venezuelan Petro Cryptocurrency ICO Pre-Sale View value statistics, market cap and supply. Find out the latest Petro (PTR) price, market cap, charts, news, compare crypto assets and other data on COIN360. Before we talk about the future of Cryptocurrency in India, we have to take look at the events that happened in the last 2-3 years. Free access to current and historic data for Bitcoin and thousands of altcoins. 0. Notify me of follow-up comments by email. Or controversial. Cryptos : 9,807 Exchanges : 377 Market Cap : $2,334,101,844,562 24h Vol : $255,546,640,088 Dominance : BTC : … But a Reuters investigation reveals that it still has a long way to go. USD. Cryptocurrency The price of the Petro cryptocurrency will be tied to the price of a barrel of Venezuelan oil. Some are positive and some are negative. It has a circulating supply of 63,993,275 XPD coins and the max. However, there are indications that not everyone buys the official line on crypto prices. Maduro announced the launch of the national petro cryptocurrency in October 2017. PETRO price is -16.9122% down in the last 24 hours. The PETRO … In an announcement on Thursday, President Nicolas Maduro ordered that the price of one petro be increased from 3,600 sovereign bolivars to 9,000. All Cryptocurrency Prices in INR India (Indian Rupee) and Cryptocurrency Marketcap # Name Price Changes 24H Market Cap Volume 24H Available Supply Price Graph (7D) The future of Cryptocurrency in India. Sort by price, volume, market cap and supply. Here are some other articles that you may be interested in: PetroDollar (XPD) is a cryptocurrency . PETRO today is 12.970$ with a 24-hour trading volume of 54 364$. The current CoinMarketCap ranking is #1760, with a live market cap of $770,242 USD. The Venezuelan government rates the Petro at 3,600 sovereign bolivars which is $60 under the new exchange rate and that is the known Petro Cryptocurrency Price. Cryptocurrency and blockchain technologies have gained traction in finance, with the price of Bitcoin reaching $11173 at the time of writing and traditional banking sectors taking note of how the technologies could be used to further their own businesses. Its cost is equal to the price of a barrel of oil produced in the country. 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”. The Petro is meant to represent the value of one barrel of crude oil. The price was set at $66 per barrel as a general barometer for a fair price and used to stabilize the price of the cryptocurrency. Its sales began on February 20 2018. PetroDollar has a current supply of 63,993,274.887257. Some have termed it a fraud. Many investors wanted to Buy Petro Cryptocurrency at pre-sale at a low price to get at least several profits at public launch.. Venezuelan President Nicolas Maduro revealed that the nation’s oil-backed cryptocurrency, the petro, will be used as a unit of account by the state oil company PDVSA. Enter your email address to subscribe to this blog and receive notifications of new posts by email. It will also serve as a platform for the growth of a fairer financial system that will develop the trade between emerging economies. The Venezuelan cryptocurrency is a question mark, an oddity, a riddle wrapped up in an enigma. As per Petro Cryptocurrency Price, main exchanges like Binance and Bitfinex have not listed a price for it. Leader in trading volume PETRO is the exchange BitMart. Thus, although it is difficult to predict what impact the Petro disbursement will have on doctors and on its price itself, it is undoubtedly far more in value when compared to the minimum wages of a doctor in Venezuela. Maduro claimed on Wednesday that Petro, Venezuela’s oil-backed cryptocurrency, had raised $735m since its launch on Tuesday. PTR token is trading on 10 active markets with the 24-hours volume of ? People have criticized the token’s trustworthiness. Venezuela’s oil-backed cryptocurrency, the petro, is a step closer to reality following the release of the official whitepaper. The last known price of PetroDollar is 0.01793316 USD and is up 6.59 over the last 24 hours. The total value of the cryptocurrency is expected to stand at $60billion, or $60 per token. PetroDollar has a current supply of 63,993,274.887257. A Venezuelan cryptocurrency called Petro (PTR) Coin has been officially introduced by the government making it first of its kind, according to an official statement. This move came with a 150 percent wage hike, the sixth such hike of the year as the Venezuelan … Live cryptocurrency prices, market cap, volume, charts and cryptocurrency news. Despite clear opposition from various countries, the Venezuelan governments want to improve the widespread use of this currency. Nicolas Maduro is an optimist, so we keep our fingers crossed! Venezuela’s Petro cryptocurrency has been off to an interesting start. PetroDollar is down 9.85% in the last 24 hours. An oil-backed cryptocurrency is one that is backed by the tangible asset of oil and sometimes gas reserves. Your email address will not be published. The government argues this could help Venezuela pay part of the … Venezuelans Now Pay Passport Fees With Petro Cryptocurrency, Petro Coin Venezuela – How This Venezuelan Crypto Works. As such, Petro can be arguably described as a “politicized” cryptocurrency since its goals go beyond meeting the users’ or markets’ needs. The amount raised by Petro in its international offering is also suspect and claims range from $3.3 billion to $735 million. Venezuela launched a cryptocurrency, the petro, with much fanfare earlier this year. The live PetroDollar price today is $0.012036 USD with a 24-hour trading volume of $0.000001 USD. The Venezuelan government rates the Petro at 3,600 sovereign bolivars which is $60 under the new exchange rate and that is the known Petro Cryptocurrency Price. Petro went down history as the first cryptocurrency made by government. Bede IC Get detailed information on Petro (PTR) including real-time price index, historical charts, market cap, exchanges, wallets, and latest news. Venezuela will issue 100 million Petros, based on the NEM blockchain, and the Venezuelan state will not be able to make new emissions of the Petro. Stay up to date with the latest Petro price movements and forum discussion. As such, the government is now looking at India to purchase crude oil from Venezuela at a 30% discount. Leader in cryptocurrency, Bitcoin, Ethereum, XRP, blockchain, DeFi, digital finance and Web 3.0 news with analysis, video and live price updates. Petro (PTR) live price in US dollar (USD). Talking of Petro Cryptocurrency Price, first of all Petro is designed to be a crypto issued by the Venezuelan state and associated with the country’s crude reserves. This means essentially tokenising barrels of oil held in reserve to give increased credibility and price stability to the cryptocurrency. US Offers $5M Bounty for Arrest of Venezuela’s Crypto Chief The head of Venezuela’s cryptocurrency initiative, the petro, is wanted by the U.S government on charges of … The pillar of this project is the existence of Petro as a state-supported digital coin backed by natural riches of its native country. Specifically, one of its oilfields, Ayachucho I, was supposed to back the Petro. Add our heatmap to track cryptocurrency market prices. Whether or not this Petro Crypto will take the order of the day in Venezuela and eventually the world in terms of being an asset has been subject of predictions. Locations include Margarita Island, Los Roques, as well as border cities Urena and San Antonio del Tachira. PetroDollar (XPD) is a cryptocurrency . Top cryptocurrency prices and charts, listed by market capitalization. Petro coin price: What is el Petro cryptocurrency and can YOU buy some? Petro (PTR) Price, Chart, Value & Market Cap | CoinCodex Total Market Cap: M. Cap: $ 2.52T (4.9%) Inarguably, one Petro cryptocurrency equals to many months of work as doctors earn a little more than the set minimum wages. Venezuela approved the use of the Petro as a form of payment in popular tourist destinations and along its western border, according to the government’s Official Gazette, dated March 22nd and distributed in April. VENEZUELA’S oil backed el Petro cryptocurrency aims to pull the failing country out of the depths of economic crisis. Meanwhile, the country’s government has reintroduced price control inspectors as part of efforts to pressure stores into accepting the country’s state-issued digital currency. Start Mining Your Own Bitcoin Now! Save my name, email, and website in this browser for the next time I comment. Live Petro prices from all markets and PTR coin market Capitalization. Retail merchants in Venezuela are refusing to accept Petro payments as hyperinflation is causing massive devaluation upon liquidation of the crypto at the banks.

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