The key to success is adaptation for Bitcoin and Litecoin
Sending Bitcoin, Litecoin and Dash offline
According to the official statement of the exchange, Criptolago, following an appeal by the president, has developed a payment mechanism that can be used in parallel with the traditional banking system. Maduro recently stressed that there is a great need to create offline payment systems that are compatible with the country’s own digital currency。At the moment, the service is only available to registered users, but it is very easy to create an account on the exchange and subsequently use this new service.
This innovative idea is praised by experts in the industry, but there is a fundamental problem. The price of the Petro is unstable, which means that there are large price differences on different Venezuelan exchanges, making it difficult to pay with the Petro because the price range is too wide. As a result, it is difficult for businesses to accept Petro as a bolivar alternative because the price fluctuations are too great and no uniform exchange value can be found. Venezuela has already introduced its own cryptocurrency Petro in 2018, which according to the government is tied to the country’s oil reserves.
作者 : Collin Brown