For Sale: Petro, Venezuela's Supposedly Oil-Backed Digital Currency

  • Alex Dovbnya
    📰 News


 For Sale: Petro, Venezuela's Supposedly Oil-Backed Digital Currency

Venezuela’s new digital currency, the Petro, is officially for sale. The Venezuelan government is offering 82.4 mln Petros, each supposedly worth $60. US residents should be careful, though, as the government has previously stated that anybody who buys the digital currency is helping Venezuela avoid sanctions and could be subject to penalties. There is also no guarantee that the country, plagued by hyperinflation of its national currency, the Bolivar, won’t simply create new Petros.

Cover image via u.today
Subscribe to U.Today on Facebook, and get involved in all top daily cryptocurrency news, stories and price predictions!

About the author

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings