Venezuela was one of the first countries in the world to try and adopt a cryptocurrency as its national payment method, mostly because its national fiat currency, the bolivar, became nearly worthless due to hyperinflation. However, after several unsuccessful attempts to set up its oil-based coin, Petro, the attempts to become a crypto-using nation died down.
Venezuela Once Again Considers Switching Over To Cryptocurrencies
Now, however, the country’s president Nicolas Maduro, who introduced the petro, said that the country needs to retake the crypto path. However, after the so-called PDVSA-Crypto scheme, which resulted in a loss of $20 billion in unaccounted oil sales paid in crypto, it would appear that even President Maduro gave up on the Petro.
At the very least, he gave no indications that he plans to revive the oil-based crypto asset. Maduro spoke his thoughts on the matter at a meeting with banking sector representatives, when he spoke about how the world is migrating to a multi-currency model.
He believes that a basket of cryptos based on the dollar, ruble, yuan, rupee, and other fiat currencies is the answer. “Let’s talk about the world of cryptocurrencies. We started that path and we have to get back on it because a group of bandits and thieves destroyed the path of cryptocurrencies, but we are going to get back on it,” he said.
Whether or not Venezuela might attempt to revive the petro or try a different approach remains to be seen. Meanwhile, the country’s citizens have been using other cryptos, specifically Bitcoin itself, or privacy coins like Monero, for years. Now, they might also want to consider a new meme coin known as Crypto All-Stars (STARS), which could enable constant passive income.
JOIN THE STARS ICO AND USE MULTI-COIN STAKING TO YOUR ADVANTAGE
What Does Crypto All-Stars Have To Offer?
Crypto All-Stars is a new meme coin project that created a new type of smart contract for staking. The project calls it MemeVault, and it has a chance to revolutionize staking in the meme coin sector.
Traditional staking has been around for years, allowing crypto users to stake the tokens belonging to specific projects. However, any smart contract only supported the staking of the native token of the project it belonged to. MemeVault is different as it allows users to stake not only STARS tokens, but all major meme coins, such as Dogecoin, Brett, Pepe, Milady, Turbo, Floki, and others.
This is a unique feature that might allow Crypto All-Stars to position itself as the center of the meme coin staking sector. Its goal is to increase connections between meme coin projects and bring interoperability to the sector, alongside greater earning potential and the ability to stake one’s entire meme coin portfolio in one place.
BUY STARS WHILE ITS PRICE IS LOW
This is what drove investors to the project, and why its ICO raised over $932k in a matter of weeks. The presale is now rapidly approaching its first million, while the project’s native token, STARS, sells for only $0.0014191 apiece. You can buy it with ETH, UST, BNB, or credit/debit card.
Just don’t wait too long, as the project is scheduled to see another price increase in less than 24 hours, so it is in every investor’s interest to buy STARS before that happens, while its price is still low.
