An official system of cryptocurrency was built by the founder of Bitcoin, a mysterious figure known as Satoshi Nakamoto. This person, or group of people, is unknown but put into the world the blockchain technology system we have today. Satoshi Nakamoto added maturity to the idea of crypto mining, Bitcoin wallets, and more.
Other influencers like Vitalik Buterin, founder of Ethereum and Ether, brought forth things like smart contracts, which paved the way for cloud mining. Sign Up With Coinsquare. This is the first step to buying XPD. Verifying your account ensures that we properly connect your funds to your account. Fund your Coinsquare account using fiat currency such as Euro or Canadian dollar. Funding is like putting gas into a car - it helps you get where you want to go.
Use the fiat currency in your Coinsquare account to purchase Bitcoin or Ethereum. Bitcoin and Ethereum are the two of the most widely-accepted cryptocurrencies, so that should make it easier for you to trade for PetroDollar. Withdraw your Bitcoin or Ethereum to your private wallet or an altcoin exchange that you can use to purchase XPD.
This is the final step of the process to trade fiat currency like dollars for XPD. You will be paid in Bitcoin in real time directly to your Coinsquare account, meaning you can use the BTC you earned to transfer to your private wallet or an altcoin exchange that you can use to purchase XPD.
Move your Bitcoin or Ethereum back to Coinsquare, sell it for the fiat currency of your choice, and withdraw your fiat currency into your bank account. Refer Your Friends. Individuals are encouraged to research and make an informed decision before buying any crypto currency. Trending News. Name Changing Token. Bitcoin SV. Synthetix Network Token. Curve DAO Token.
Celsius Network. CME Group. Grayscale Investments. People Charles Hoskinson. Michael Novogratz. Alex Mashinsky. Michael Saylor. Calvin Ayre. Craig Wright. Recent Stories. XPD PetroDollar. Buy XPD on Binance. Rank Coin PoW. Circulating Supply 63,, XPD. Total Supply 63,, XPD. Announced Feb 18, ATH Date Nov 9, Consensus Proof of Work PoW.
Block Time 5 minutes.
Your message has been sent. We will get back to you as soon as possible. In the meantime, please connect with us on social media. This link is provided solely for informational purposes and is not an endorsement in any way. We recommend that you exercise extreme caution and consult a registered investment advisor before taking any action.
Ethereum 2. Trending News. Name Changing Token. Bitcoin SV. Synthetix Network Token. Curve DAO Token. Celsius Network. CME Group. Grayscale Investments. People Charles Hoskinson. Michael Novogratz. Alex Mashinsky. Michael Saylor. Calvin Ayre. Craig Wright. Recent Stories. XPD PetroDollar. Buy XPD on Binance.
Rank Coin PoW. The launch was highly criticized inside and out of the country. The US State Department called it simply a way of circumventing economic sanctions and the Venezuelan opposition party said it was both unconstitutional and illegal. In addition to the launch of the PetroDollar, Signal Capital is exploring the creation of a cryptocurrency bank to both service PetroDollar investors while offering traditional banking functions as well.
Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies. We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies. All Rights Reserved. Advertise Submit a Press Release. Home Cryptocurrency news. Play Now! Tags: commodity crypotcurrency oil petrodollar. Tweet Share. Related Posts.
Crude oil and natural gas are two of the most universal liquid and widely traded goods, as well as being vital energy resources. PetroDollars allows users to use a transparent peer-to-peer exchanged digital currency that is backed by the value of these vital resourses — crude oil and natural gas. Each PetroDollars token is linked to verified and existing real world assets. This makes PetroDollars ideal for preserving wealth for investors of digital and fiat currencies who are seeking to avoid loss or lock in their gain by holding and transferring intrinsic value in digital form.
PetroDollars are also ideal as they enable holders to not only preserve their wealth while engaging in commercial transactions but also to avoid the inflation, devaluations and volatility linked with other digital or fiat currencies. PetroDollars developers aim to ensure it complies with all the applicable laws of the U. Its financial statements as well as its oil reserves will all be prepared in line with the U.
This may also be subject to audit by a leading international accounting firm. PetroDollars will also maintain record keeping and boost transparency to enable all sellers, purchases and holders of PetroDollar to adhere to their respective tax reporting obligations. There is a stark contrast between PetroDollars and U. PetroDollars on the other hand, like other digital tokens, is anticipated to be treated as a currency in its different jurisdictions for income tax purposes.
Due to this structure, holders of PetroDollars are expected to be exempted from annual tax but they will be subjected to tax upon any gains or losses from their PetroDollars sales. By differentiating PetroDollars tax attributes from the tax attributes of their underlying oil reserves, PetroDollars makes a significant change in tax treatment. It represents the formation of a new and unique financial instrument with potentially favorable tax treatment and return profile for both U.
PetroDollars is expected to be ran on the Ethereum-enabled blockchain technology. The blockchain technology is ideal for providing a strong decentralized means of tracking, verification and exchange. This is because the blockchain can provide a digital global ledger that is auditable and secured using cryptography and will facilitate transactions with other familiar fiat and crypto currencies and assets.
Primarily, PetroDollars represents the peer-to-peer transferability of digitized commodity value. PetroDollars has several benefits to its holders. Foremost being its unique structure. Secondly its verified intrinsic value and market stability offers significant economic benefits to sellers, purchasers and holders. It will permit holders of national or digital currencies to lock in gains and shield against currency devaluation and inflation.
PetroDollars is also anticipated to be a tax advantaged economic proxy for oil investments and other commodities. Its tax advantages , intrinsic value and reliability makes it attractive to investors and consumers globally. The coin represents the future of digital currency. Save my name, email, and website in this browser for the next time I comment. Notify me of follow-up comments by email. Notify me of new posts by email.
Predictions Contact. Mobile Cryptocurrency Mining With Phoneum. What Is Blockchain Technology? What is Blockchain 3. What is a Distributed Ledger? What is Slippage in Cryptocurrency Trading? What are Bollinger Bands? What is the Fibonacci Retracement? Coinbase Vs Coinbase Pro. What is a Masternode? Table of Contents. Please enter your comment! Please enter your name here.
You have entered an incorrect email address!