Venezuela's cryptocurrency exchange platform has launched an offline payment service for cryptocurrencies, which has supported cryptocurrencies including Petro and BTC

Criptolago, a Venezuelan encrypted trading platform, has launched an encrypted payment service using text messages, BlockBeats said.Venezuelans can now use encrypted payments without the Internet, and Criptolago hopes to promote wider adoption of encryption across the country with its new service.

The move comes at the behest of President Nicolas Maduro, who has urged companies to develop payment mechanisms parallel to the traditional banking system, according to the trading platform. The President stressed the need to create an offline payment system compatible with the new Petro, an oil cryptocurrency. But Petro hasn't been able to stand out as the unicorn of venezuela's cryptocurrency market.

Criptolago has now enabled offline transactions for all cryptocurrencies listed on its platform. In other words, venezuelans can now transfer Petro, BTC, LTC, Dash and Glufco (tokens of venezuela's encrypted investment bank) while offline. The platform also supports legal currency trading.

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Currently, the service is only available to registered users, but the login process is still relatively simple. The real problem for venezuelans may be finding the right price for their Petro tokens. The actual price of the Petro is too volatile to be a practical way of trading. For example, while official sources say the Petro is worth $58.9 per generation, today the Petro is trading at about $11.50 on the local Amberes cryptographic exchange. According to news portals, the Criptolago trading platform Petro has reached $20.

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Criptolago is probably venezuela's best platform for providing advanced solutions to facilitate the use of cryptocurrency in the country. The offline payment option comes after the platform teamed up with Glufco, a Venezuelan encrypted payment processor, to provide its customers with a point-of-sale that allows them to process encrypted payments using CARDS similar to the widely used debit or credit CARDS.

The original address: https://decrypt.co/25225/venezuelans-have-new-way-send-crypto-without-internet

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