A Venezuelan cryptocurrency called Petro (PTR) Coin has been officially
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.
Subsequently, a lot of people are thinking to trade Petro (PTR) Cryptocurrency, seeking more profits in the future.
The PETRO coin is backed by the Bolivarian Republic of Venezuela. More importantly, the Petro has been created in an innovative manner, utilizing the highest standards in blockchain technology as well as information security, while thinking of a future where electronic asset-representations will help more direct trade and government work within the framework of true financial as well as economic independence.
Petro Coin has its Whitepaper available for its users reading, addressing an important question “Why Petro Coin” and how will it help the nation.
Petro (PTR) has its origin in the idea of president Hugo Chavez of a strong currency backed by raw materials. Its background dates back to proposals for global financial and monetary coordination prior to the hegemony of the US dollar, which resurfaced after the financial crisis of the late 1990s.
Due to the imposition of the US dollar as the international backing currency and the subsequent replacement of the gold standard with the fiduciary model, the world economy has suffered from uncertainty and instability caused by the foundation in a currency without a gold backing, which has been particularly harmful to emerging economies.
You May Also Read: Should You Invest In Petro?
How To Buy Petro (PTR) Coin?
In order to buy Petro Coin, one needs to participate in the Pre-sale that’s on the website. The site is unsecured and it’s in Spanish, thus, you will need to use some translator.
Step #1: Open Petro Coin Pre Sale Website
Step #2: Choose “Persona Juridica”, in case you are applying as a company, or choose “Persona Natural” in case you are an individual.
Step #3: Enter your Full Name, choose “Passport” from the ID drop down menu and Email Address. Clear out the google captcha and you will get registered. Check your inbox!
Step #4: You will be asked to click on the link given in the email to verify your account.
Step #5: Website will open having “Offer” as its title and it will list Badge as well as Cryptocurrency as Type of Currency, choose one of your choice.
Step #6: Once selected a Cryptocurrency of your choice, you will be provided Bitcoin (BTC) and Ethereum (ETH) under Coin menu. Choose one that you’d like to proceed with.
Step #7: In minimum and maximum amount, enter your bid, like how much you plan to buy. Then, choose “I declare that the origin of the funds is lawful”, and clear the captcha.
Step #8: You will receive an email with subject “Data update:: Petro” from “petro@mppeuct.gob.ve” with a link that will take you to Documentation Screen. You will have to provide your Cell Number, Passport & Identification Card images and press “Accept”.
Step #9: Once done, then a page will load showing all the information, including your Passport, Email, Cnic, etc. with the declaration “I declare that all the documentation provided is completely reliable”, choose “SI” and click “Accept”.
Step #10: After that, you will receive another email for a successful registration and a code whereby you can check the status of your application.
Step #11: Enter the verification code you got in the mail, and wait for the approval of your application from Consultation Request Status.
Step #12: A success confirmation will pop up on the screen. That is it!
Enjoy trading Petro Cryptocurrency as it is believed to be saving Venezuelan Economy!
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