With Argentina’s history of economic crises, it’s better to have an exchange in cryptocurrencies to literally get your money’s worth.
According to Vamos Academy “Argentina is just below the United States in regard to intensive crypto investments. It might seem difficult to believe; however, it makes sense when considering Argentina’s tendency for innovation and the general interest and knowledge of technology”
Don’t Worry About Losing Money Or Bad Exchange Rates
People are looking to get money via crypto without depending on a bank and that, when travelling, is an important feature. Travelling with crypto in Argentina is a good alternative. You won’t need to look for pesky exchange rates and good exchange venues (some of which are “cuevas” aka illegal money exchange venues).
Reason Number One: Devaluation of the Argentine Peso
The devaluation of Argentine currency makes it an unreliable way to save, invest and spend. Most Argentinians keep their savings in U$D; however, more and more people are now using Bitcoin and other lesser-known cryptocurrencies to protect their savings. Keep in mind that yearly inflation is above 50%–despite current Government claims. Pesos are not easily convertible into other currencies; crypto, in turn, can be turned into fiat.
It’s no surprise that Argentina regularly goes through cycles of crises; though this may make it cheaper to spend money in the country (but not so much in Buenos Aires, the capital city), you should definitely consider taking advantage of the crypto craze.
Reason Number Two: Cryptocurrency in Argentina Is a Rapidly Evolving Market
The demand is now rising, as of 2021, according to many studies. Bitcoin mining, besides, is on the rise as well: recently, a crypto “farm” has reached the same amount of value as bigger enterprises in Argentina, like Mercadolibre. This means that the validations of the transactions will not only be more secure; they will also have an official value depending on the platform you use to declare your crypto.
Other benefits that stem from the relative stability of some of the cryptocurrencies is that there is a crypto value index available in Argentina, so you can keep track of the market’s current state.
Reason Number Three: There Are Many Third-Party Wallets Available
Third-party crypto wallets (“billeteras”) such as Buenbit, Belo and Blockchain are also rapidly evolving. These platforms are user-friendly and do not require much knowledge about crypto as their interface and options are quite simple.
Keep in mind that you should use the swap or trade option if you want to trade your coins in the short term. Defiant is as of 2021 the only service that allows for a secure login, which is a must.
Reason Number Four: Crypto Really is Convenient In Argentina
Argentina offers global platforms for spending and investing, such as the well-known site Binance. You only need to invest a minimum of 10 U$D to buy or make a first investment, so really it’s no big deal. Binance offers P2P options to buy Bitcoins and other cryptocurrencies. Atenas Bitcoin specifically allows you to deposit crypto in Argentina; Atenas has a simple platform.
You can also transfer money and receive a deposit via Mercadopago and other forms of cash transactions that are exclusive to the country. If you choose to pay in U$D for P2P, you can verify it with international IDs, and this makes it possible to pay via U$ dollars. Think of Paypal or Mercadolibre, which allows you to make returns; with crypto there is a similar system in place.
You should also know there are mining rings. Actually, the biggest mining company is originally from Argentina, and they have recently located to their country of origin. Although mining in Argentina has decreased, but you have other options: holding, trading and participating in investment.
Reason 5: Crypto Really Is Profitable in the Country
For travel specifically, crypto is taking off, as it allows users/buyers to put their money back into the system and give it a particular use. There have been changes in the travel tourism industry.
You can use Cheapair for flights to pay for air tickets, rent a car or even make hotel reservations. Another popular feature you can use are gift cards; many stores, sites and venues offer the option to pay via crypto as well.
Amenorhu kwaku is an author, internet marketer, and entrepreneur. He is the founder of SuccessValley, a network community for students and aspiring entrepreneurs. He is also the founder of Republik City News and Whoop, a news portal and a business directory.
