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News > Latin America

User Visits Increase by 500% to the Petro Web Portal

  •  The cryptocurrency El Petro will have the backing of Venezuela's natural resources.

    The cryptocurrency El Petro will have the backing of Venezuela's natural resources. | Photo: @hugbelpsuv

Published 20 February 2018

Users will have a manual for the acquisition and commercialization of the Venezuelan cryptocurrency, be they natural or legal persons.

After starting the pre-sale of the Venezuelan cryptocurrency, El Petro, the influx of users to its web portal has increased by 500 percent, said on Tuesday the Minister for University Education, Science and Technology, Hugbel Roa.

In his Twitter account, the official said that the traffic of queries to the page (http://elpetro.gob.ve) quintupled after the global announcement made by the vice president of Venezuela, Tareck El Aissami, at midnight on Tuesday.

The cryptocurrency, El Petro, was created by the Venezuelan Government to face the current financial blockade against Venezuela, encourage foreign investment and create a new system for the payment of goods and services. They will create 100 million virtual currencies without extra emissions.

"The Petro stands as a novel initiative of the Bolivarian Government, led by President Nicolás Maduro, a liberating mechanism inspired by the genius of Commander Hugo Chávez," El Aissami said in his speech.

The tweet reads: "Unlike the more than 1,500 existing cryptocurrencies worldwide, #ElPetro is the only one that has physical support being backed with 5,342 million barrels of field 1 of the Ayacucho Block of the Orinoco Oil Belt"

The website has a manual available in several languages for its acquisition and commercialization, with specifications for legal and natural persons to access the cryptocurrency, as well as those from abroad.

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