#Venezuela News

President Nicolas Maduro Set to Create Youth Bank Funded by Petro Cryptocurrency

Venezuela’s President Says Petro Cryptocurrency Critical to Economic Recovery

January 15, 2020 by Osato Avan-Nomayo at Altcoins

Venezuela’s President Nicolas Maduro says Petro — the state-issued crypto, will be a major focus of the country’s government in 2020. Despite previous attempts to promote utility for the national cryptocurrency, public tokens like Bitcoin (BTC) and Dash are seeing the most adoption within the economically troubled country. Petro Will...

Altcoin Explorer: Dash, the Digital Payments Cryptocurrency, Part 2

December 16, 2019 by Edoardo Vecchio at Altcoin Explorer

In the first part, we reviewed the history of Dash and analyzed its governance model. In this article, we will see some use cases of Dash, what the future of this cryptocurrency holds for us as well as some of its weaknesses. The Venezuelan Case Although it is still included...

Venezuela to pay Christmas Bonuses with a Contraversal Cryptocurrency, the Petro

November 18, 2019 by Ogwu Osaemezu Emmanuel at Altcoins

As hyperinflation continues to ravage the Venezuelan economy, President Nicolas Maduro has hinted that the Christmas bonus of retirees and pensioners in the country will be paid in petro (PTR), Venezuela’s national crypto. This according to a tweet by a local news source, Venepress on November 17, 2019. Crypto Reigns...

Cryptocurrency Dash Exhibits Real-World Application Through Venezuela Adoption

October 18, 2019 by Ashwath Balakrishnan at Altcoins

Dash is one of the lesser recognized privacy coins but has exhibited some of the strongest use cases and adoption metrics. Despite more popularity residing with ZCash and Monero, Dash has progressed incredibly well. Cryptobuyer, a Latin American exchange and crypto merchant solution, has stated that Dash has been the...

Venezuela Formally Confirms Sanction-Skirting Cryptocurrency Payment System

October 1, 2019 by Ashwath Balakrishnan at Altcoins

Venezuelan President, Nicholas Maduro, has confirmed rumors that the country is launching a cryptocurrency-based payment network for domestic and international payments. An even more exciting development from here is that the country is looking to accept Bitcoin and Ethereum from a state-owned petroleum company which they will hold as a...

Venezuela State-Run Oil Firm to Pay Suppliers in Bitcoin

September 27, 2019 by Ogwu Osaemezu Emmanuel at Bitcoin

As the age-long economic crisis rages on, Venezuela’s apex bank, Banco Central de Venezuela (BCV) is now running internal tests with officials to find out the possibility of holding bitcoin (BTC) and ether (ETH) in its coffers as foreign reserves, as the nation’s state-owned oil company is looking to pay...

Dash Crypto Parachuting down into Coinbase Pro

Dash (DASH) to Begin Trading on Coinbase Pro

September 13, 2019 by Ogwu Osaemezu Emmanuel at Altcoins

Coinbase Pro will add full trading support for Dash (DASH), a privacy-centric altcoin, on September 17, 2019. Cryptocurrency traders on the platform can start depositing Dash (DASH) into their wallets starting from September 16, according to a blog post on September 12, 2019. Listing Dash (DASH) Dash (DASH) enthusiasts will...

Maduro sitting infront of Petro coins on computer screens

Venezuela Launches Cryptocurrency Remittance Platform to Boost Capital Inflow in the Country

August 27, 2019 by Edoardo Vecchio at Altcoins

According to official news published by the Venezuelan government on August 26, the state-run remittance platform Patria Remesa is officially operational. Crypto Remittances Thousands of Venezuelan migrants fled their homeland years ago to find work and send remittances to their relatives since a few dollars could bear the costs of...

A powerful crypto standing in Argentina skyscrapers

Could Cryptocurrency Solve Argentina’s Economic Woes?

August 14, 2019 by Ashwath Balakrishnan at Bitcoin

The Argentine Peso depreciated almost 25 percent against the USD overnight, showcasing the incremental damage being done to an already ailing economy. Economists across the globe have differing views as to how Argentina can tackle this crisis. According to analyst Alex Kruger, Argentine residents flock to the USD in an...

Donald Trump’s Tariffs on China may be Boosting Bitcoin’s Value

August 2, 2019 by Edoardo Vecchio at Bitcoin

U.S. President Donald Trump announced on Thursday that almost all goods imported from China will be subject to an additional 10 percent tariff. This escalates further the trade war between Washington and Beijing, threating the global economic outlook. According to Micky, this caused a jolt in the stock markets and...

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