The pre-sale of Venezuela’s oil-backed cryptocurrency petro started yesterday according to the digital currency’s whitepaper. The government has announced that the pre-sale started and then published a buyer’s manual and also an anti-money laundering compliance manual. The government also stated that Petro attracted $735 million on its first day.
According to Petro’s whitepaper, a total of 82.4 million tokens are available for the pre-sale phase. This was confirmed by the county’s vice president on Monday stating that: “Petro tokens can be bought by Venezuelan nationals as well as foreigners.
Carlos Vargas was quoted by Telesur TV stating that: “Petro’s presale and its Initial coin offer can be made in hard currency as well as digital currencies. Our main intention is to put the currency in the best hands which will be followed by the appearance of the secondary market.”
How to buy Petro
According to Petro’s website, the only thing required to make a purchase is to open a digital petro wallet. When the Wallet is open, you can generate an email address that you can use to share with the people who want to share PTR with you. There is, however, a buyers’ manual that explains step by step on how to register to get the Petro wallet.
The manual also explains how to protect user’s private keys and how to generate public keys which are required to make any kind of cryptocurrency deposit. They’re a curious announcement regarding the use of NEM blockchain: “Petro has robust security mechanisms because its programming elements are related to NEM blockchain.”
The news about NEM blockchain is not very positive because NEM which uses centralized servers was recently in the news following the hack of one of Japan’s biggest crypto exchanges Coincheck which lost about $539 million worth of cryptocurrency.