PetroDollar Price, News and Analysis (XPD)

PetroDollar is a peer-to-peer digital currency designed to deflate with relation to the world crude oils reserves. PetroDollar has a approximate 1:10,000 relationship to barrels of oil still existing in the ground, thus creating an analogy of the USD/OIL trading pair. Every transaction(Tx) broadcast over the PetroDollar network will be charged a transaction fee to be destroyed in line with oil depletion. Transaction fees are destroyed autonomously, at an organic rate based on a mathematical model of the oil market. PetroDollar has a current fee of 1.429% of the amount transmitted, increasing to approximately 15% in year 2045. (Description provided by CryptoCompare)

It is not possible to buy all cryptocurrencies with U.S. dollars. Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S. dollars using Coinbase or BlockFi. Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including PetroDollar.

PetroDollar produces its own wallet software that is available for download on its website, which allows you to store PetroDollar on your computer. For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X. If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

One PetroDollar (XPD) is currently worth $0.01 on major cryptocurrency exchanges. You can also exchange one PetroDollar for 0.00000030 bitcoin(s) on major exchanges. The value (or market capitalization) of all available PetroDollar in U.S. dollars is $955,413.40.

PetroDollar is a coin that uses the SHA-256 algorithm.

PetroDollar and other SHA-256 coins can typically only be mined profitably with a piece of specialized mining hardware called an ASIC, which stands for application-specific integrated circuit. Major manufacturers of ASICs include BitMain (AntMiner), Microbt (Whatsminer), and Canaan (AvalonMiner). ASIC hardware can be purchased directly from the manufacturer or from resellers on Amazon and eBay.

The following coins use the same hashing algorithm (SHA-256) as PetroDollar: Ixcoin, Freicoin, StrongHands, BUZZCoin, Deutsche eMark, PayCoin, Version, GlobalToken, Zayedcoin, Acoin, Californium, Eurocoin and ARbit.