The Venezuelan Government has officially announced the pre-sale of the Petro (PTR) cryptocurrency – the first commodity-secured currency of its kind in the world.
“The Petro is born and we are going to have a total success for the welfare of Venezuela,” President Nicolas Maduro said. The President added that it will be a “very busy” day since the government will be working on forging strategic alliances.
The manual of acquisition and commercialization of the Petro will now be available and will begin the pre-sale of this digital currency with 82.4 million units available. The manual is available for download in several languages.
“The largest and most important companies and Blockchain in the world are with Venezuela, we are going to sign agreements,” Maduro expressed. “Six weeks ago I announced the creation of the Venezuelan cryptocurrency,” the president adding that the government had been working to launch the currency since then.
Maduro previously announced that the value of the entire Petro issuance of 100 million tokens would be just over US$6 billion.
The cryptocurrency, which will be backed by the oil resources of the country, aims to begin a new economic era in the nation.
Vice President of the Republic, Tareck El Aissami, launched the pre-sale process for the Venezuelan cryptocurrency, early Tuesday.
The Petro was created by the Venezuelan Government to counter the financial blockade imposed by the United States, attract investments and generate a new payment mechanism for goods and services.
The Venezuelan Government says the Petro is the foundation of a policy to promote development and infrastructure as well as the training of young people in electronic mining, coding, cryptography, network security and economics.
Carlos Vargas, who will manage the government’s cryptocurrency, said the presale and initial offer will be made in hard currencies and cryptocurrencies, but not bolivars.
“Our responsibility is to put (the Petro) in the best hands and then a secondary market will appear,” he said, explaining that the Petro could be sold in exchange for local currency after the initial sale.
The cryptocurrency will be redeemable for fiduciary money and other crypto-assets through digital exchange locations.
How to acquire the Petro?
Get a digital Petro wallet. Your Petro wallet will generate an email address that you can share with anyone who wants to transfer PTR to your wallet. You will be able to receive and deposit PTRs using the e-mail address.
Through an exchange of Petro ERC20 tokens acquired in the presale.
Purchase in the Initial Offer open to the participation of the general public.
In the secondary market once the initial offer process has ended.