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Crypto wallets on the Patria website will cease operations on Jan. 15, with the remaining Petro converted to bolivar, the country's fiat currency.
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Bitcoin
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Venezuela’s President Nicolas Maduro says Petro — the state-issued crypto, will be a major focus of the country’s government in 2020. Despite previous attempts to promote utility for the national cryptocurrency, public tokens like Bitcoin (BTC) and Dash are seeing…
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As hyperinflation continues to ravage the Venezuelan economy, President Nicolas Maduro has hinted that the Christmas bonus of retirees and pensioners in the country will be paid in petro (PTR), Venezuela’s national crypto. This according to a tweet by a…
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Dash is one of the lesser recognized privacy coins but has exhibited some of the strongest use cases and adoption metrics. Despite more popularity residing with ZCash and Monero, Dash has progressed incredibly well. Cryptobuyer, a Latin American exchange and…
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Venezuelan President, Nicholas Maduro, has confirmed rumors that the country is launching a cryptocurrency-based payment network for domestic and international payments. An even more exciting development from here is that the country is looking to accept Bitcoin and Ethereum from…
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According to official news published by the Venezuelan government on August 26, the state-run remittance platform Patria Remesa is officially operational. Crypto Remittances Thousands of Venezuelan migrants fled their homeland years ago to find work and send remittances to their…
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Brazilian coffee farmers will soon have access to a cryptocurrency called “coffeecoin”, according to a report on Bloomberg on July 10, 2019. This new cryptocurrency is to be launched by one of the country’s largest arabica-coffee cooperatives, and it reflects the growing interest…
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The Austrian city of Vienna plans to launch ‘Vienna token’, it’s own cryptocurrency as a form of incentive for citizens, as per Trending Topics reports, January 28, 2019 A Crypto Incentive The idea of world governments developing official cryptocurrencies isn’t…
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On January 7, 2019, the government of Venezuela published a decree detailing the process of taxation payment with regards to cryptocurrencies and foreign fiat currency. As cryptocurrency becomes more widely used, the subject of its taxation inevitably comes up. In…
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Venezuelan President Nicolas Maduro officially launched the Petro, a state, and oil-backed cryptocurrency. According to the RT article published on October 8, 2018, while the goal of the state-backed cryptocurrency is to consolidate Venezuela’s economic stability, experts and analysts, however,…
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Several conflicting accounts abound of the situation on ground in South America’s largest oil producer, but what is known for sure is that on Saturday, August 18, 2018, Venezuelan president Nicolás Maduro announced a controversial attempt to escape the woes…
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President Nicolas Maduro of Venezuela has announced on August 14, 2018 that with effect from August 20, 2018, the petro cryptocurrency would officially become the second unit of account in the nation, as the central bank issued altcoin will be…
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Despite initial criticisms that threatened to fire down Venezuelan President Maduro’s oil-backed crypto initiative, the Petro appears to be waxing stronger with each passing day. Now, the state’s authorities are set to build homes for the homeless with the altcoin…
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It has been a sobering week for crypto investors as the price of bitcoin continued last week’s decline to drop another ten percent versus last week’s close after a new study suggested that Tether (USDT) trading manipulated the bitcoin rally…
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While bitcoin and other cryptocurrencies were built to rival fiat currencies issued by centralized institutions, they have now become more popular as an investment tool rather than a payment method. Recognizing this emerging market, legacy financial institutions are now contemplating…
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Despite the criticisms that the controversial Petro cryptocurrency has faced both locally and internationally since its launch in February 2018, the coin’s backers have unsuccessfully tried their best to gain relevance and seek a robust use-case. However, most countries have…
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