Venezuela began implementing Petro into commercial operations at the end of October so that the state-issued cryptocurrency could be used to pay for goods and services within the country. However, the Petro can be purchased only on the official website of the project, or at public offices, as it has neither wallet nor an active market. According to Cryptocompare data, it is not traded on any exchange as of the time of writing.
As the efforts aimed at promoting El Petro adoption has been futile thus far, the government has decided to force it on Venezuela’s citizens in the form of converting pensions into Petro without the consent of the pension holders. This came as a shock as older adults were counting days to receive this money and now they cannot make heads or tails of what is actually going on and how to get their Bolivars instead of some vague digital currency.