How to Buy Cryptocurrency in Argentina
Buying cryptocurrency in Argentina
Although Bitcoin is not a legal currency in Argentina, people are using it more than ever. The crypto industry in Argentina saw record-breaking trading volumes in 2020 when Ripio, one of the largest crypto exchanges in the country, officially crossed the 400 000 users milestone. At the end of the year, Ripio had over 1 million users, which shows how significant 2020 has been for the development of the crypto industry in Argentina. Argentina's population turned to cryptocurrencies because of the economic struggles the country has been going through lately - including massive debts and high inflation. Crypto turned out to be the best alternative for storing wealth while the rest of the country's economy is on thin ice. It's easy to obtain cryptocurrencies in Argentina as there are a couple of popular exchanges to choose from. In fact, Argentina was one of the earliest adopters of cryptocurrency in Latin America where many businesses accept Bitcoin as a valid payment method.
As of 20/03/2021
These exchanges all accept customers from Argentina. While they broadly offer the same services and you can buy cryptocurrency at all of them, there can be differences in transaction fees, security, verification requirements, deposit methods and features, as shown below
67% of retail CFD accounts lose money. Cryptoassets are unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk. US Residents - eToro USA LLC does not offer CFDs, only real Crypto assets available.
eToro is a social trading platform that allows you to buy into cryptocurrencies, international stocks and shares and more complex financial assets. It also have an innovative Copy Trader feature where you can choose to follow other successful traders and automatically copy their trades to hopefully share in their success
- Fully regulated financial institution
- Trade crypto, stocks and other financial assets
- Follow and copy the trades of expert traders
- Fees (spreads) are high
- Only USD as base currency
Based in Isle of Man. Over 200,000 customers with min deposit as little as £5. Simple site for getting into Bitcoin.
- Simple user interface
- Autobuy feature for regular crypto saving / DCA
- You can earn Bitcoin on your shopping with their browser extension
- Limited range of coins
- No e-wallet feature
- No live chat support
Operating since 2012, Bitfinex has a huge range of coins and trading pairs, a good user interface and low trading fees.
- Very low trading fees
- Large range of coins and trading pairs
- High liquidity
- Slow account verification
- Two major hacks
Changelly allows you to trade cryptocurrency without registration or verifying the identity through KYC. Being a non-custodial exchange, Changelly doesn’t require you to keep any deposits. The platform also works as a fiat-to-crypto gateway.
- Non-custodial exchange
- Great way to switch altcoins
- Doesn’t require extensive KYC
- 2FA security and high exchange limit
- A high transaction fee of 0.5%
- Unclear owners
- Sometimes their service is quite slow