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The crypto trading platform SimpleFX offers new payment solutions for Spanish-speaking users

April 24, 2020

The SimpleFX platform has encouraged users to trust the use of cryptocurrencies since its inception.

Thanks to surveys in various countries, this has been demonstrated in the Spanish-speaking population Digital currencies are used more often. As a result, SimpleFX is now offering users in Latin America an update that will allow them to develop new payment methods to stimulate and encourage the use of cryptocurrencies, thereby making their transactions more accessible and reliable. These new payment features are widely recognized and They enable active and manageable financing by simplifying trade.

Today we are largely dependent on the digital world, which is why many companies rely on technologies such as blockchain to help them meet the needs of all users.


The crypto trading platform SimpleFX offers new payment solutions for Spanish-speaking usersThe crypto trading platform SimpleFX offers new payment solutions for Spanish-speaking users

These payment options vary by country. Brazil is the Latin American country with the highest proportion of cryptocurrency users. SimpleFX, to expand the reach of the crypto market, offers Brazilians quick and easy payment methods so that when they complete their purchase on the platform, they can do so through Boleto Bancario, a secure payment method that is regulated by the Brazilian central bank and also by Brazil Loterías Caixa teamed up to make payments easily, quickly and securely by simply presenting the voucher in every store.

Another form of payment would include the transfer of holders with accounts at Banco Safra, Itaú, Santander.


In Mexico, SimpleFX works with SPEI, It enables users to send and receive money via bank accounts over the Internet and offers reliable payment functions in near real time.

SPEI operates over a private and secure network that protects its users from fraud. It can also be operated through the commercial OXXO chain, where users can make simple cash payments offline using vouchers by presenting the voucher in one of the chain’s 13,000 stores.

Credit cards such as Visa, MasterCard and American Express are also available as a form of payment.


On the other hand in Chile can make payments quickly and reliably through the WebPay Plus system for online purchases more secure with debit and credit cards. Connected cards include Visa, MasterCard.

Another payment method supported by SimpleFX Web Trader is bank transfers for bank account holders, including Banco Falabella, Banco Security and Banco CrediChile.


SimpleFX in Colombia has decided to integrate Baloto as an alternative payment method, the online lottery that allows consumers to make cash payments using the coupon system, which can be viewed at any of the 10,000 connected points in the country. There is also the Efecty payment platform that allows users to make payments in cash using vouchers like Baloto.

BBVA Colombia and Bancolombia offer to complete payment to users by bank transfer.


Western Union offers Peruvian citizens the ability to make deposit requests to their SimpleFX accounts by paying personally at one of their points. via the website or by calling customer service. There is also the option of making bank transfer payments to various banks across the country.

SimpleFX is a CFD broker that is characterized by the simplicity of its platform to operate with both the Forex market and the most popular cryptocurrencies.

It has been in operation since 2014 and has expanded its range considerably in recent years. It is based in San Vicente and Las Granada and is not regulated by any financial institution. maintains a strict security protocol and compliance with anti-money laundering regulations that enable it to operate in much of Latin America.

Cryptocurrencies in Latin America

The Latin American governments have dealt with cryptocurrenciesand is expanding the virtual currency market more and more. However, the panorama varies depending on where you are. This has prompted many brokers and exchanges to thoroughly examine the legal reality of each nation before offering concrete solutions for the business.

Countries like Ecuador and Bolivia are not yet familiar with this type of assetInstead, the Venezuelan government took a step towards using cryptocurrencies in the midst of the crisis the country is currently in.

The Venezuelan symbol called Petro was created to support the country’s economy. supported by its reserves of natural resources such as oil, gold and gas. The direct selling process was active for fifteen days and could be purchased with cryptocurrencies like Bitcoin and Ethereum.

Further south the republic Argentina is one of the countries with the largest bitcoins movement in Latin Americadue to the number of members of the crypto ecosystem that are giving it more momentum; The Argentine government is working on it, although it does not yet have legal recognition.

Because of the crisis that the country has experienced Argentines have taken cryptocurrencies as dollar assetsand increasingly distrusts the local currency (Argentine peso) due to its constant depreciation.

The Mexican Bitso was the first cryptocurrency platform to comply with international regulations and offer its services to the South American country.

“We chose Argentina because it has impressive technical talent, but also because it has a very large cryptocurrency community, one of the most important in the world. It is a really progressive market and we want to give it more institutionality. We believe that Cryptocurrencies match the invention of the internet They are an internet of valuables, “said Pablo González, co-founder of Bitso.

Like Argentina, Chile is one of the countries with the greatest potential for cryptocurrencies and blockchain. Highlighting its strongest fintech ecosystem in the ever-growing region; Even so, the residents of the South American country are still ignorant of Bitcoin and its technology, which prevents the country from positioning itself as one of the most important countries in the introduction of cryptocurrencies.

Finance Minister Felipe Larraín told the press:

“Regulating these platforms would mitigate some of these risks, such as money laundering and terrorist financing, and increase the legal certainty with which they operate. We want to adequately protect the risks associated with this activity.”

Bolivia and Ecuador present their clear positions regarding virtual currencies and are among the countries that prohibit their trade.;; The central banks are not aware of any operations with this type of currency as they are not legal in either country.

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