Official Exchange Rate of the The Petro cryptocurrency for today

Official price of the The Petro cryptocurrency for today.

Note: On weekends and holidays there are no operations.

What is The Petro cryptocurrency?

The petro (symbol: ₽; code: PTR) is a pre-mined Venezuelan token (in) based on blockchain technology according to the Venezuelan government is backed by the reserves of various natural resources of Venezuela such as oil, gold , diamonds and gas. So far, each Petro would be backed by a barrel of oil from the Venezuelan crude basket.

The official value of PETRO is given by the cost of a barrel of oil for the given date and confirmed by the superintendency of crypto assets.

What is the Blockchain?

The Blockchain or chain of blocks is a shared database that works as a book for the record of purchase-sale operations or any other transaction. It is the technological base of the operation of bitcoin, petro and other cryptocurrencies.

Where can the Petro be used?

According to the Venezuelan government, public procedures in registries and notaries must be paid in PETROS, likewise the procedures for Passport Issuance and Passport Extensions in SAIME must be paid in Petros.

In the private commercial market, some stores or chain stores have begun to receive Petros as a form of payment.

Many pharmacies and supermarkets in Venezuela have begun to accept the Petro as a form of payment, you can consult the shops and pharmacies by clicking here. It seems that more and more private businesses are beginning to use it at least as a unit of exchange.

The Banco de Venezuela biopayment has the option of payment in petros, which simplifies operations, but it can also be done via the petro’s web platform.