Venezuela News and Articles

The president of Venezuela, Nicolas Maduro announced that the minimum wage in the country will be pegged to the value of half Petro (PTR), the national cryptocurrency of Venezuela. The monthly minimum wage will go up 18 times to around 26 bolivars ($28) by pegging it to the value of half PTR....

Director of Venezuela’s Maiquetía International Airport (otherwise called Simón Bolívar), Freddy Borges announced that the institution intends to add cryptocurrencies like Dash, BTC, and state-backed Petro (PTR) as a payments option. The exact date when the option will become available isn't...

Back in 2018, the Venezuelan authorities introduced the Petro digital currency. President Nicholas Maduro then promised that every coin would be backed by the oil produced in his country. However, as subsequent events showed, interest in Petro turned out to be practically zero, both on the part of...

The Venezuelan authorities are using Bitcoin to finance the supply of goods from Turkey and Iran. This is the conclusion reached by the RunRun.es team, founded by investigative journalist Nelson Bocaranda. This researcher received classified data from the country's central bank, which suggests that...

On Nov 27, 2020, Pizza Hut announced that customers can pay for their services with digital currency. Never before had the popular pizza place accepted any kind of cryptocurrency. This became possible due to a collaboration with the Latin American crypto trading platform, Crypto Buyer. The company...

Venezuela decided to finance foreign trade operations in crypto. President Nicolas Maduro said that, first of all, Caracas wants to expand the use of the national crypto Petro. In addition to Petro, the government can use other digital currencies if necessary. The corresponding bill has already...

One of the digital outreach groups in Venezuela announced that the authorities have prevented user entrance to Coinbase and open currency market MercaDolar. The reasons aren't clear yet, but internet service providers (ISPs) were involved in these actions as their IPs are included in a DNS...

AirTM has been selected to distribute $18M to 62,000 healthcare specialists in Venezuela. The capitals that are associated with Venezuelan President Nicolas Maduro were seized by the US authorities. Venezuelan users have long formed a significant percentage of AirTM's customer base. The platform is...

Venezuelans living in government apartments will not be able to mine. The head of the Ministry of Environment and Construction of Venezuela Ildemaro Villarroel told about the corresponding ban on the mining of cryptocurrency. He stressed that those citizens of the country who live in areas where...

Venezuela has announced that gas stations nationwide will sell gas at a reduced price in exchange for the state-owned cryptocurrency Petro. However, the government immediately removed local subsidies for gasoline, as a result of which its price rose to $ 0.02 per liter. The new regime will allow...

The Venezuelan administrators say that Petro should be bargained for $ 80, although it can be found on the market at a price 10 times less. Venezuelan Petro was launched in 2018 to solve the problem of rampant inflation and economic shocks. However, the coin had more problems than expected. The...

The Venezuelan authorities have begun lending to farmers in the Petro crypto, the country's President Nicolas Maduro said. During his television appearance, the Venezuelan leader emphasized that firms engaged in grain production have already begun to receive their first loans in national digital...

Venezuelans, who got state crypto coins as a result of free distribution, now trade it on LocalBitcoins for half the official rate. The authorities of Venezuela lately carried a free distribution of Petro coins, as a result of which each citizen received 0.5 Petro. The authorities insist that the...

The Venezuelan development team is preparing a new solution for BTC operations without an Internet connection. The solution is a mesh network called Locha. The developers are also working on two devices that will allow users to connect to the BTC blockchain using long-range waves. This was reported...

President of Venezuela Maduro proclaimed the founding of a new crypto casino in a beaten country where betting rooms have all but gone dead. Maduro said that a new casino is going to be in Ávila National Park’s Hotel Humboldt. The new casino is going to work on Venezuela's national crypto coin...

During his speech on the Constituent Assembly on January 14, Nicholas Maduro vowed to renew the country's flunked crypto coin for everything from federal payments to oil purchases. He mentioned that state-owned Petroleos de Venezuela SA is going to begin negotiations of 5000 barrels in Petros...

All-time famous food chain Burger King has implemented not just Bitcoin but other cryptocurrencies to its system as well. So if you live in Venezuela and have Ether (ETH), Litecoin (LTC), Binance Coin (BNB), Dash (DASH), or Tether (USDT) then you can have access to some great food from Burger King!...

Ever since cryptocurrencies came into existence, they have continued to grow. The latest nation to cash in the trend is Venezuela with its head of state announcing that the nation is set to release its cryptocurrency called Petro. While speaking to the journalists of El Nacional Nicolas Maduro...