Venezuela is plagued by hyperinflation. Therefore the South American country introduced its own cryptocurrencies, which are used by more and more people. The digital currency Petro (PTR) is intended to counteract the extreme depreciation of the national currency. But also another cryptocurrencies are to be accepted now more widely.
Venezuela: Pay for passport with Bitcoins (BTC)
Because, as some users report on Twitter, Bitcoin (BTC) is also available to them as a payment option for their passports. As the following picture shows, users can select the world's largest cryptocurrencies during the payment process. The strange thing about the graphic is that payment by credit card is currently not possible, it says "coming soon". According to some users, payment by credit card has been accepted so far:
The process is handled by the online immigration platform SAIME (Administrative Service for Identification, Migration and Foreigners). Venezuelan citizens can therefore renew their passport or extend its validity. The platform relies on BTCPayServer as payment service provider for the correct processing of Bitcoin transactions.
Surprisingly, however, the payment function with Bitcoin (BTC) will not be available for Venezuelan residents, as a reddit user reported yesterday.
I am trying to find an official announcement, but so far I could not find anything. My brother says he tried yesterday and the Bitcoin option was not there. So this is pretty new. Besides, maybe this feature only works for people outside the country. I don't know. I'll report when I find an official announcement.
Therefore there is a suspicion that by removing the Bitcoin payment feature, the country might force its citizens to use the state's own pseudo-cryptocurrencies Petro (PTR).
Update: In the meantime, the Bitcoins payment function has been removed again. This may have been a test run.
Posted from Crypto Mastermind Go to the original article
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