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“In every crisis, the potential, demand and use of cryptocurrencies multiply at an exponential level.”

June 16, 2020

We interviewed Marcelo Guillén, CEO and founder of enBitcoins, in Argentina. He has defined himself as a Mendoza lover for 12 years and has extensive experience in dealing with cryptocurrencies.

Fernando Quirós (FQ): What potential do you see for Bitcoin and cryptocurrencies in Latin America?

Marcelo Guillén (MG): Based on my work across Latin America, I have found that in every crisis, the potential, demand, and use of cryptocurrencies multiply at an exponential level. I remember it worked well from 2112 to 2016. We had clients, a portfolio of several hundred people a month, all normal. Of course, we worked with a technology that not even one percent of Latam knew about. From 2016 to 2017 it was crazy. The same thing has been going on since early 2020. I think that people are maturing and understanding that the banking system as it is being developed is used only to ensure that few people win and that people lose in the short or long term. This means that even if they’re afraid of it and don’t understand the technology, they choose to get involved, even if it’s just a few cents to get started and understand. It reminds me of credit cards. Nobody knows how they work, but people use them right away. That is the same. Sometimes I tell them that there is no need to understand the technical part because nobody knows how the cards work, where they affect etc. This is the same thing, you have to use them first and then understand the technical part.

“In every crisis, the potential, demand and use of cryptocurrencies multiply at an exponential level.”“In every crisis, the potential, demand and use of cryptocurrencies multiply at an exponential level.”

FQ: Do you see cryptocurrencies as a paradigm shift in finance?

MG: Yes of course. When I got to know the technology, I quickly saw countless applications and solutions for people at the banking and financial level. Something that would serve to have at least one payment alternative or to transfer money at low cost.

CF: There are several countries in Latin America that are in a difficult economic situation. What role do cryptocurrencies play in this context?

MG: What I live in my daily life with my customers is that every penny of savings they have left is invested in a cryptocurrency. They do it to have at least one alternative shelter instead of using the mattress or going to a traditional bank.

FQ: Bitcoin was halved for the third time recently. Do you think this will affect Bitcoin’s price?

MG: We are in a very serious world crisis, in which world powers and other countries print tickets to keep everything afloat. I mean that each halving is a different time and it is difficult to make a prediction. But if you rush me a little bit, I’ll tell you that Bitcoin still can’t detach itself from international exchanges and follows their prices. I have a belief that the gold will go away. Bitcoin and gold seem to me to be similar in terms of value. In this case, we have a bitcoin that quickly exceeds $ 10,000 and rises to historical values ​​of up to $ 20,000 up to or up to $ 50,000 if it stays that way.

CF: Do you think more financial education is needed in the general population?

MG: It seems to me that there is a lot of education and places to look for information. It remains in people’s attitudes to study and examine which models or which tools everyone uses to keep their finances fair and orderly.

CF: What is EnBitcoins? What services do they offer?

MG: I can tell you that enBitcoins is a payment system. It is a platform that allows you to send money in two countries in two easy steps and at a very affordable price.

CF How do you work in Latin America?

MG: Latin America is our birthplace. Before we continued to expand and expand to other continents, we decided to act strongly and settle in Latam. We believe these are the countries most in need of these financial alternatives and efficient payments.

CF: Have cryptocurrency transfers increased?

MG: Yes very much. Not only by individuals, but also by companies trying to transfer the fruits of their labor and liquidate them at prices that are fairer than those offered by the government with their withholding taxes.

CF: Did you come to Peru?

MG: A month ago we opened Peru in Bitcoins, which is gradually growing. We believe it is a place lagging behind Bitcoin, but it is a very technological city that will soon make it an everyday thing. And in the future, we’re going to think of Bitcoins as a great payment POS for shops and restaurants across Latam. Here we will be the ones who act as a bank, offering them settlement options, asset protection and easy payments for customers with simple QRs and / or crypto wallets.

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