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.
In reality, the retreat and exchange have never been active since I tried to change Petros to bs and I have never been able to never activate this option and their only answer was that it was in progress !!! Something very necessary in those times when money is needed to buy food
– jose david jimenez (@ joseph13cfc) March 31, 2020
According to its website, TwentyVe offers cryptocurrency exchange services such asEthereum y ;; including several ATMs in the Venezuelan capital. In addition, it offers its users the ability to pay basic taxes and services using cryptocurrency.
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If they are hypotheses, we can assume that Perhaps his license to trade in Petros was revoked And from then on, the decision was made to remove this cryptocurrency from its platform.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.
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:
- Cryptia Exchange
- Antwerp coin
- 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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