Cryptocurrencies, in addition to being an effective means of saving, are locally positioned as an umbrella against the hurricane of inflation. It is no coincidence that Argentina, according to one ranking chain analysis, be among the 10 countries most valued these currencies. On this note, a guide with six of the major wallets operating in the country and allows you to enter the world of digital assets.
These intangible units are stored in an application -such as Mercado Pago or Naranja X- that allows owners to save, receive and send these assets using the blockchain network. Most are available through online software as well like a mobile wallet.
When paying or conducting exchange operations, it is discovered that there are different platforms and applications in the local market. According to the type of financial operation intended to be carried out there are three types.
On the one hand, a coin purse For those looking for immediate results: sell when the price rises and buy when it falls. Another for savers who want to have part of their heritage safe. And also, for those taking the first steps here financial wheel.
Many of these platforms support the exchange of currencies between individuals.
Report of a consultant Adila analyzed several wallets in the local market and divided them into two categories. A) Yes, Lemon, Ripio and Buenbit, is more appropriate to start with the management of cryptocurrencies; while Satoshitango, Bitso and Defiant fit into a harder profile.
In turn, some cryptocurrencies have their own official wallets, while other products allow the coexistence of different currencies within the same application.
The three tokens or units of value with greater demand at the local level are: bitcoin, which is volatile because it is profitable; ether (ETH) a currency linked to the decentralized platform ethereum and Tether (USDT), a crypto stablecoin that maintains parity with the dollar.
What is noteworthy is that crypto ownership in Argentina is not exclusively focused on bitcoin, as indicated by a study by consulting firm Finder. Because users prefer diversify your portfolios and not all chips are played in one cryptocurrency.
SatoshiTango
SatoshiTango is another national exchange available in 33 countries.
SatoshiTango is one of the national exchanges available in 33 countries around the world. It was created in 2014 and initially it was only available for bitcoin trading from Argentina.
One of the most appreciated features is that it can be used for buying and selling different fiat currencies: US dollars, Argentine pesos, Brazilian reais, bolívares and euros, are among the best known. From the account you can pay utility bills.
The company ensures that most of its clients ’funds are stored in cold wallets that remain offline. The platform information is encrypted under SSL security protocols.
LemonCash
The Lemon Cash service includes an international debit card.
For more convenience, the new mode is have money on crypto cards -similar in functionality and appearance to any other plastic- from Visa and Mastercard payment processors, to buy in physical stores, get products online and also pay for streaming services.
An additional advantage is that these cards are valid internationally. Which indicates that they are not only available within Argentina, but also in the United States, Europe and in any country in the world.
The Lemon Card Visa Contactless incentive is that it has no maintenance cost. In addition, it rewards users a 2% cashback on bitcoin for every purchase made.
The card can not only be funded by Argentine pesos, but also by stable cryptocurrencies such as DAI and USDT. The business always accepts pesos and from Lemon the conversion is done automatically regardless of the selected digital currency.
Lemon is an Argentina-born startup in the fintech sector that offers instant liquidity without commissions and adds the functionality of Lemon Earn, which automatically generates weekly returns on cryptocurrencies.
bitso
This type of platform – both mobile wallet and Exchange – acts as an intermediary so that interested parties can formalize buying and selling operations. When the two parties agreed, the trade is carried on.
For these services, these exchange houses usually charge a commission. However, it is important to note that there is a standard price that changes based on supply and demand.
On the same line of the Exchange is the so -called broker or “runners“, that has stocks of various cryptocurrencies and they give advice on which boxes are in which to conveniently stack the coins. In this case, the price is not discussed.
And although many brokers present themselves as “commission -free intermediaries”, this is included in the spread, the difference between the price at which they buy bitcoins and at which they are sold.
The Bitso platform is the first cryptocurrency company in Latin America to achieve unicorn status.
The Bitso platform was originally born in Mexico, in 2014 and became the first cryptocurrency company in Latin America to achieve unicorn status.
It is also the sixth in the world to obtain a license from the Gibraltar Financial Services Commission (GFSC), an international standard that regulates fintech firms using blockchain technology.
In a dynamic management, it manages the purchase of the most popular cryptocurrencies such as Litecoin, Ethereum, TrueUSD, XRP, Golem, Decentraland (mana), Bitcoin Cash and BAT.
It has a trading tools allowing you to invest in one currency or another to make money in buying and selling operations as if they were shares.
gravel
At Ripio, 95% of funds are put in cold wallets.
Within the category of mobile wallets, a highly relevant feature is the type of additional security that the application can offer. Most of all, for savers with no intention to practice parkour jumps between coins.
In this sense, Ripio provides common security measures such as double factor authentication, fraud prevention and data integrity.
What else, 95% of funds are put in cold wallets, so they are protected. It has a full reserve where customers can withdraw money immediately.
It is a pioneering platform in the country and also stands out in being one of the cheapest. It offers a self-developed wallet and accepts bitcoin (BTC), ether (ETH), DAI, litecoin (LTC), zcash (ZEC), Ripio Credit Network (RCN), USD Coin (USDC), and bitcoin cash (BCH).
Because it supports the trading of digital assets, so apart from the Exchange, it is also considered a broker. Does not charge trading commissions when exchanges are made between parties.
goodbit
BuenBit is another wallet that offers a card with a 2%return.
To avoid the slippery edge of the swing, Dai is a stablecoin that maintains a peg to the US dollar, ensuring that 1 Dai is equal to one dollar. It is therefore considered a value reserve cryptocurrency and not a speculation cryptocurrency.
Unlike other currencies, it is backed by assets that are constantly adjusted to give it value stability. However, they are not monitored by the coffers of a traditional bank, but stored digitally and publicly on the Ethereum blockchain.
Buenbit is an official partner of DAI. Although it also operates on Bitcoin, Ethereum, Polkadot, Solana, Polygon, Binance Coin and Cardano. This is another of the wallets which offers a Mastercard crypto card which refunds 2% on any cryptocurrency at random..
challenging
It is a wallet with no custody.
As a rule, all owners have two keys: a public one, which works like an email address and can be shared with others, and a private one, which is a string of letters and numbers and must remain hidden.
There are also wallets called Custodial, where the custody of tokens is conducted by a third party. And this private key is in the hand of the wallet owner. Indicating that your presence is required for any operation,
While Non-custodial wallets, such as Defiant, the holder has control over the private key or recovery phrase and he or she is the owner and responsible of custody of your cryptos, without having to go to third parties.
The goal is to ensure that transactions are secure and private, with the possibility to “generate peer-to-peer exchange.” This option uses a P2P network.
In this case, there is one buyer, one delivers the money, so the commission of third parties is avoided and everyone is anonymous. For those who are not yet sure, you can choose a broker or an exchange to obtain crypto.
Those interested can trade bitcoin, ethereum, USDC or dai “in more than 170 countries with credit cards, Apple Pay or bank transfers.”
SL
Source: Clarin