Attention Pensioners: Petros can be Converted to Other Currencies, Here We Explain How
The Venezuelan Petro cryptocurrency raised its value from 3,600 to 9,000 sovereign bolivars, with which the minimum wage and pensions, whose value is half Petro, were increased to Bs. S 4,500, as part of the correction factor to the Plan for Recovery, Growth and Economic Prosperity, announced in November by President Nicolás Maduro.
On that occasion, the president also announced that the pensioners will receive an additional month of bonuses (Bs.S. 4,500), which can be saved in Petros and exchanged for other cryptocurrencies and currencies through the Patria platform.
“Our adults and senior citizens received the third month of aguinaldo in Petro, and they can exchange it in sovereign currency or bolivars,” Maduro wrote in a message posted on Twitter, with a link to an instructional text that explains how to do it.
To exchange Petros for Bolivars
The pensioners must enter their session in the Patria system, access the wallet, look for the savings plan option and select “Savings in Petros”.
Then, on the label “1,800 Activo”, locate three red dots with a line (… _) and select “Early Redemption”, then “Continue” and wait for a code to be sent to the affiliated cell phone, which must be entered to confirm .
Finally, wait for the amount to appear in the wallet so you can transfer it to your account.
Savings in Petros
In the option “Wallet”, you must select “Savings Plan” and then the option “Savings in Petro”, define the amount in bolivars to convert and the system reports its equivalent in Petro.
The minimum purchase fraction is 0.01; which for its first day is equivalent to Bs.S 38.95.
The amortizations will be at 90, 180, 270 days. One year after the savings plan, the amount received will be a quarter of what was saved according to the price of the Petro.
If the Savings Plan is interrupted, a penalty of 0.1% will be applied on the resources in sovereign bolivars received as a result of the early redemption.
Other cryptocurrencies or currencies
You must choose one of the 16 cryptocurrency exchange houses endorsed by the National Government and comply with the requirements for currency exchange and other crypto-assets.
The authorized exchange houses are Criptoexchainge, Criptocapital, Asesoria Financiera Financiaera C.A., Italcambio, Antwerp Coin, Cave Blockchainge, Valoratta Casa de Bolsa, Coinsecure.ve.
Also, Critiaechainge, Criptolago, Criptoventraige CA, Cryptoactive Menets C.A., Cryptoactive Bancar C.A., Criptomundo House Exchange C.A., Financial Investments 1444 C.A. and Criptoes Cryptoactive.
In Venezuela there are 4,371,358 senior citizens who get a pension and will have the opportunity to save or change their month for an additional end-of-the-year bonus money or cryptocurrency.
Translated by JRE
