Through the site users can access the technical details of the digital currency and register. The pre-sale of the petro will begin on February 20 and the initial offer of the currency will be made later until the 82.400,000 units available have been sold.
Citizens can use the cryptocurrency by opening a digital petro wallet, and use it as a form to pay taxes, national public services and contributions, taking as reference the price of the barrel of the previous day with a discount close to 10% which is equivalent to the reduction to which the state sells the cryptocurrency.
The payments will be accepted in bolivars at the exchange rate resulting from operations of the authorized exchange houses, which will be determined by market mechanisms based on a formula where the petro / Bolivar rate will be defined through an average weighted by the volume of operations of all exchange houses.