RATE Group | Venezuela’s Government has insisted its Petro currency is worth more than traders have found it at
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Venezuela’s Government has insisted its Petro currency is worth more than traders have found it at

04 May Venezuela’s Government has insisted its Petro currency is worth more than traders have found it at

Posted at 19:54h in Cryptocurrency News by

The Venezuelan Government has insisted that the token is trading at around $80 but has been found on the open market for as little as $8

As more countries seek to adopt their own cryptocurrencies, Venezuela’s Petro is struggling to meet expectations in the face of economic difficulty

Introduced in 2018 as a solution to rampant inflation and economic turmoil, Venezuela’s Petro currency has met more adversity than expected.

The Venezuelan Government has insisted that the token is trading at around $80 but has been found on the open market for as little as $8. The government has made numerous attempts to integrate the Petro into its economy, such as making it the only payment option for citizens to purchase passports and for paying public workers holiday bonuses. There is also an official wallet for the coin called PetroApp where users can store their coins.

However, the price disparity is likely to have angered Venezuelans who will be expected…

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