Argentina Forum

holanothweo
Joined 2020
Posts: 2

3 years ago

Trading Bitcoin in Argentina

3 years ago

I am considering taking a trip to Argentina, but I know I should talk to some expats first.

I was an expat in China for about eight years and that is where I got acquainted with Bitcoin because exchange rates and wire transfers are tightly limited and controlled.

Argentina is in a similar situation.

I understand that there is an official and unofficial exchange rate as demonstrated by sites like bluedollar

The exchange rates make it complicated for me to know if I should take a trip because the purpose would be business related. I am considering the feasibility of selling bitcoin directly, person to person, in exchange for ARS.

I did some reading on the forum and I can see that people have difficulty sending ARS by bank wire and traditional methods (the official exchange rates would kill your value)

There are Bitcoin exchanges serving Argentina, but there are strict and low limits on how much you can buy each month. The result is that the demand for Bitcoin is actually quite high and people will pay more for it in person if you allow larger purchases.

Then there's still the problem of converting ARS into something that I can convert back to USD. I see that Argentina is famous for agricultural exports, although I've never been an import/export business man. I would want to stick to something that's hassle free.

Perhaps you have some ideas or you can give me some feedback and let me know that what I'm considering is a terrible idea or not. Maybe you personally are in the market for some Bitcoin. I'm not working with really large amounts, just a few years of savings. I want to test the waters.

For anyone that has been struggling with moving money around, but thinks Bitcoin is too unstable, I recommend that you look into stablecoins like Tether (USDT), which are pegged directly to the US dollar at a one to one exchange rate.

William Russell

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William Russell

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