Buy Bitcoin in Argentina

Bitcoin & Cryptocurrency Trading in Argentina

Argentina was once one of the more prosperous South American countries, but now faces massive default due to currency manipulation and massive inflation.

In October 2022, the year-over-year inflation rate is over 80% and is expected to reach 90% by year-end. Marcos Buscaglia, an economist in Buenos Aires, states it this way, "Money here is like ice cream, If you keep a peso for too long, it melts in terms of how much you can buy with it." Even with the drop in the price of bitcoin Argentines see it as a less risky choice than their own currency.

In May 2022, within just a few days of banks offering cryptocurrency services to customers, the central bank of Argentina (BCRA) stopped financial institutions from offering crypto services. This quick change is due to the $44 billion extended debt plan by the International Monetary Fund (IMF) to Argentina to prevent bankruptcy of the country. The language included in the plan required Argentina to "discourage the use of cryptocurrencies."

In April of 2020, it came to light that the Argentinian government may default on $65 billion worth of foreign debt. And with this news came massive pumps in the Bitcoin market as citizens attempted to dump Argentinian Pesos for harder, more reliable money like Bitcoin.

(1/2) Argentines are dumping record amounts of pesos for #bitcoin on LocalBitcoins, as the government is about to default on its debt (https://t.co/rSYFq8gDSD) and the currency is suffering from inflation. pic.twitter.com/oTFYadike4

— Arcane Research (@ArcaneResearch) April 23, 2020

With the inflation rate in Argentina around 50%, many people are trying to dump their Pesos for Bitcoin. If you are one of them then this is the guide for you!

One of the easiest ways to buy Bitcoin in Argentina is through cryptocurrency exchanges. There are several exchanges offering Bitcoin in Argentina, and you can easily select one based on your requirements and preferences using our guide. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.

Additionally, Bitcoin buyers need to keep in mind the fact that certain exchanges might require them to get a wallet of their own before they are able to buy the digital currency. Also, it is recommended to have a wallet of your own for security reasons, preferably a hardware wallet.

Another way to buy Bitcoins in Argentina is through automated teller machines (ATMs). These ATMs allow users to instantly purchase and sell cryptocurrency using cash, however most of them require at least a phone number, so they aren't totally private.