Demand for cryptocurrencies in Argentina is increasing
Consultants believe that digital currencies will suffer less from the economic crisis than sovereign capital
Argentine news agency Télam reported that cryptocurrency transfers abroad are increasing in the South American country. Financial operators recognized that more and more people are seeking to trade with these assets. According to the source, the reason is the advantage of being able to transfer assets abroad digitally.
In the publication, Gonzalo Arzuaga, leader in the cryptocurrency investment fund Terrífico Capital, was quoted as saying that citizens currently find it difficult to attend an agency to transfer money, which turns out to be very advantageous for digital currencies due to that “cryptocurrencies trading works 24 hours a day, seven days a week.”
Arzuaga also added that “anyone can send and receive cryptocurrencies in minutes,” which aroused more interest from people.
The media also cited Nora Palladino, from Bitso in the Southern Cone, who assured: “Crypto asset markets face a volatility that replicates the collapses of the world’s main exchanges (…). In times of high volatility in the markets, there are investors who tend to stay away from any type of risk and this can also affect the cryptocurrency market.”
Palladino stated that “now you can also think about stablecoins. This type of currency has its value associated to another asset, such as gold or a fiat currency such as the US dollar or the euro.”
K.Villarroel
Source: cointelegraph
