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“Argentina has enormous potential for the development of the crypto ecosystem”

August 1, 2020

“Argentina has huge potential for the development of the crypto ecosystem. That motivated us to land in the country,” said Pablo González, Bitso’s co-founder and Chief Design Officer (CDO), during his intervention in the panel “How to buy cryptocurrencies in Argentina”, a room that took place as part of the “Decentralization 2020” event.

It should be noted that Bitso has already exceeded a million users and is growing rapidly in Argentina, which is also due to a dynamic user community that knows what it needs. This was explained by Bitso’s co-founder and chief design officer during his presentation.

“”We started operations with Bitso in Mexico six years ago. Argentina is the first destination in which we are expanding to offer a full service for our products. And to our delight, the greatest growth in platform users since we arrived in February this year comes from this country, ”said Bitsos CDO.

“Argentina has enormous potential for the development of the crypto ecosystem”“Argentina has enormous potential for the development of the crypto ecosystem”

It should be noted that Bitso is also a cryptocurrency platform regulated on the American continent in Gibraltar.

“”When entering the local market, we wanted to find out which real use cases can be developed“He mentioned.

Then he added: “While When we decided to expand, knowing that we would do it in Latin America, we took the time to understand the needs of Argentina to bring the crypto world closer to as many people as possible. Our mission is to promote cases where cryptocurrency technology and development can be used, and Argentina is the ideal country for this. ”

When González thought about the development of the digital assets industry and user demand, he analyzed: “From Bitso’s birth between 2013 and 2014 until today, the crypto ecosystem has changed worldwide“”

“The expansion of the sector on a global scale currently enables us to have clearer expectations about what the process of buying and selling cryptocurrencies should look like or at what prices, but the intention of the user, either in Mexico or in Mexico Argentina for example is always the same: the operation is easy, “he added.

In this sense, González claimed: “The Argentine user was very clear in communicating what he needed, and this allowed us to tailor our services to the needs of the local community.“”

“One of Bitso’s oddities is that we have a very large number of traders on our stock exchange. This is because we are focused on bringing more liquidity to the market from the start,” he concluded.

Crypto payments

From the organized Decentralize 2020 meeting, organized by the NGO Bitcoin Argentina, to explore the universe of opportunities for social and financial transformation of cryptocurrencies, David Álvarez, Assets Product Owner at Bitso, also participated.

As the person responsible for the coordination of the mobile applications and products of the platform, which are intended to promote the use of digital currencies, During the workshop entitled “Immediate and commission-free payments with crypto on your mobile phone” Álvarez emphasized: “The Argentinian market is not only showing rapid growth, but is not only concentrating on trading, but also on the introduction of cryptocurrencies for everyday use Use. “”

“This allows us to focus on our mission of making crypto really useful in everyday life,” said Álvarez, introducing Bitso Transfer, a function of the Bitso app that allows you to send and receive crypto payments (according to information of the company) it is instant and free of charge).

“This is a product that will make it easier for crypto users to overcome the barrier to entry into the ecosystem, which may be intimidating for those unfamiliar with digital currencies, for example, and may revolutionize the future of payments to do so . ” Different merchants accept payments in crypto, ”he added.

A developed community

The crypto community in Argentina is one of the most developed in the world. Buenos Aires has the world’s second largest virtual currency ecosystem, according to Forbes polls, and provides for 1.5% of Argentines to invest in cryptocurrencies. For example, 215 locals nationwide already accepted Bitcoin as a payment method in 2019.

Bitcoin / dollar market

The cryptocurrency buying and selling platform Bitso announced the opening of its Bitcoin / US dollar (BTC / USD) market on April 24. The initiative was designed to provide access to the most widely used currency in the world: the US dollar. This has been reported to the company Cointelegraph in Spanish.

In a statement, they noted that this is part of the platform’s global positioning strategy. “It turns Bitso into a bridge that connects local currencies like Argentine pesos and Mexican pesos to global currencies through digital currencies.”

On the other hand, they stressed that the announcement was a first step to bring Argentinian traders closer to the new BTC / USD market as part of the value proposition of Bitso Alpha, Bitso’s exclusive merchant product.

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