Venezuela News

Venezuela, officially the Bolivarian Republic of Venezuela, is a federal state in the north part of South America. The country has built its economy on oil, as Venezuela owns the largest oil reserves in the world. In terms of digital currencies, Venezuela was the first country to have issued its own cryptocoin. Its value directly depends on the national oil reserves. The cryptocoin, created in order to improve the country’s weak economy, was issued contrary to the parliament’s decision. The national Venezuelan cryptocurrency Petro, officially El Petro, has garnered about $735 million during the first day of the ICO launch. Despite the apparent success, the future of the Venezuelan cryptocurrency is unpredictable, as some countries, such as the USA, have already banned the use of Petro.

News
Around 6 to 8 million Venezuelans were airdropped half a Petro each by the government, with many trying to sell it for half the official price.
Venezuelans Selling Petro on LocalBitcoins at Half the Official Price
Andrey Shevchenko
2020-01-22T18:43:00+00:00
4270
News
Venezuelan project Locha Mesh is developing devices to ensure crisis-struck regions are able to use crypto amid internet and electricity shortages.
Venezuelan Team Working on Bitcoin Mesh Network Based on Offline Radios
Andrey Shevchenko
2020-01-21T17:04:00+00:00
3951
News
Nicolas Maduro, president of Venezuela, announced on Friday the opening of a new crypto-run casino in a battered country where betting halls have all but gone e...
Maduro Announces Crypto Casino in Support of Petro and Public
Andrew Calderaro
2020-01-20T22:10:00+00:00
5874
News
The president of Venezuela, Nicolas Maduro, has announced that the state-owned PDVSA oil firm will sell 4.5 million barrels of oil for Petros.
Maduro Orders State-Run Firm to Sell 4.5M Oil Barrels for Petro
Helen Partz
2020-01-15T12:55:00+00:00
5115
Analysis
A different view of cryptocurrencies post-crisis? ‘‘It was quite profound to see Bitcoin acting as a clear safe haven.”
Crypto Community Eyes US–Iran Crisis As Tensions Flare
Andrew Singer
2020-01-14T21:30:00+00:00
2657
News
A partnership with merchant gateway Cryptobuyer sees the first Burger King restaurant begin taking six cryptocurrencies, with others to follow this year.
Burger King Venezuela Starts Bitcoin Payments in First of 40 Stores
William Suberg
2020-01-04T09:52:00+00:00
17754
News
Bitcoin trading volumes on peer-to-peer trading platform LocalBitcoins in Venezuela and Argentina have touched on new all-time highs.
Venezuela, Argentina Set New Weekly P2P Bitcoin Trading Volume Records
Adrian Zmudzinski
2019-12-28T12:20:00+00:00
11729
News
The amount of Venezuelan bolivars traded against Bitcoin hit another all-time high last week amid hyperinflation in the country.
Venezuelan Bolivar Trading Volumes on LocalBitcoins Hits New Record High
Helen Partz
2019-12-17T13:12:00+00:00
4282

Follow us on Facebook