Venezuelan Exchange VeinteVe eliminates Petro, fewer options – BeInCrypto


The Venezuelan state’s cryptocurrency was more than controversial, and the problems with exchanging for goods, services, or another currency – including the successful sovereign Bolivar – seem endless. The Venezuelan National Stock Exchange (VeinteVe) seems to have the same opinion as it has removed Petro (PTR) from its platform.

This was reported in his official Twitter account about the exchange, which gave no specific reasons for this decision. Although some users on the same social network previously reported that they never managed to exchange PTR through this exchange.

According to its website, TwentyVe offers cryptocurrency exchange services such as Bitcoin

The legal name of the company is Inversiones 1444 C.A. can be identified as one of the 16 exchanges licensed by the National Supervision of Cryptoactive and Related Activities (SUNACRIP). Trade Petros and other cryptocurrencies from 2018. Nevertheless, such a license cannot be mentioned on the current VeinteVe website. It is also not listed in the SUNACRIP “Exchanges” section.

If they are hypotheses, we can assume that Perhaps his license to trade in Petros was revoked And from then on, the decision was made to remove this cryptocurrency from its platform. It is of course also noteworthy that this fact was accused by the US government of drug terrorism a few days after Nicolás Maduro and several officials from the Venezuelan regime, including Joselit Ramírez, SUNACRIP’s current superintendent.

Are there any other options?

The truth is that most PTR holders have wanted to get rid of them so far and cannot find a way. According to economist Leonardo Buniak, 5.8 million Venezuelans who received the 2019 Christmas bonus at Petros still couldn’t spend it.

Petro Stable

The alternative to the Banco de Venezuela’s biopayment system used to be the simplest and most popular option, since only the machines that were adapted for it had to be marked. However, it has been inactive since January and there seems to be little rush to reactivate it. The remaining method is the PetroApp, a centralized digital wallet to which the funds from Monedero Patria have to be sent in order to be able to transfer them to an exchange office or a private buyer.

Now put aside the fact of multiple complaints on faded PTRs between Monedero Patria and PetroAppThe truth is that private buyers are virtually non-existent and exchanges are at best as expensive as they are difficult to use.

Of the 16 graduates in 2018, only seven are still registered with SUNACRIP:

  • CryptoEx
  • Cryptia Exchange
  • Bank
  • Antwerp coin
  • AFX
  • Cryptolago
  • Crypto world

It is as remarkable as it is somber, and the fact that none of them are present in other countries shows a name or face of the team that managed or founded it, that some support emails don’t even exist and that all of them available Have reported complaints on Twitter about the review of documents, credits, exchanges and withdrawals.

The only remaining exchanges where offers to sell BTC in exchange for PTR are offered from time to time are the platforms P2P LocalBitcoins and Hodl Hodl. The latter actually added the Petro to its payment methods for buying BTC. Nevertheless, it must be said that this type of offer is not abundant on either of the two exchanges and that it usually does not offer very cheap prices for the buyer.

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As a leading blockchain and fintech news company, BeInCrypto always strives to comply with strict editorial guidelines and the highest journalistic standards. With this in mind, we always encourage and encourage readers to do their own research into the information contained in this article. This article is intended as news and is for informational purposes only. The topic of the article and the information provided may have an impact on the value of a digital or cryptocurrency asset, but is never intended. Likewise, the content of the article and the information contained therein do not intend to present sufficient information to make a financial or investment decision. This article is not expressly intended as financial advice, it is not financial advice and should not be construed as financial advice. The content and information in this article have not been prepared by a certified financial professional. All readers should always conduct their own due diligence with a certified financial professional before making an investment decision. The author of this article may have any amount of Bitcoin, cryptocurrencies, other digital currencies, or financial instruments at the time of writing, including but not limited to those contained in the content of this article.


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