The investor has evaluated the prospects of cryptocurrency Venezuelan «Petro»

© AFP 2018 / Federico Reggaesize of Venezuela Nicolas Maduro during the ceremony the launch of cryptocurrency Petro. Archival photoThe investor has evaluated the prospects of cryptocurrency Venezuelan «Petro»© 2018 AFP / Federico Parra

The prospect of new crypto-currencies «Petro», which will be applied in Venezuela on 1 October, misty, told RIA Novosti the portfolio Manager Principal Investors Kyle Shostak.

According to him, obscure its real value, as it will be provided, what services can be paid for, and the time when this financial instrument is not the best – the cryptocurrency market is now experiencing not the best times.

Venezuelan President Nicolas Maduro announced on Thursday that from October 1 this year, the cryptocurrency «Petro» to be used when making international payments.

«There is no doubt that this currency will be in demand. In this story, more questions than answers. For example, as that’s what the currency will be provided, what services will she be paid, how it will be measured against a basket of other cryptocurrencies, for which the restrictions fall, as long as these questions have no answer, perspectives very difficult,» said Shostak.

The expert drew attention to the fact that the start time of application of this cryptocurrency is not the best, because the whole cryptocurrency market is now experiencing not the best period.

Venezuela 20 Feb released provided oil cryptocurrency «Peter», becoming the first country with its own cryptocurrency, which is supported by the oil reserves. Earlier, Maduro had identified the cost of a «Petro» to 60 dollars, or 3.6 thousand new bolivars.

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