According to a survey conducted by Paxful, a worldwide bitcoin exchange platform, it is no longer just big cities and capitals that are driving cryptocurrency adoption.
According to the data, a suburb of Greater Buenos Aires came in third place in the country for the biggest volume of cryptocurrency transactions, trailing only Buenos Aires and Córdoba. This is Quilmes, which is far ahead of many of the country’s large cities.
“What we found was that Quilmes was a real-life illustration of how Bitcoin can truly benefit everyone, from mining to arbitrage, to immigrants from Bolivia and Venezuela who use bitcoins to send and receive money all over the world.” In a statement, the corporation said, “their relatives and friends in these nations.”
The cryptographic ecosystem’s activities provide the facilities and solutions that explain this adoption. From the ability to save in a non-inflationary currency to the ability to send remittances at cheap prices and with little bureaucracy, to the ability to receive collections and make payments without the frictions of fiat money.
The price of bitcoins skyrockets in the periphery. Reuters
In the long run, bitcoin has proven to be more profitable than many currencies, including the Argentine peso. This industry has enormous potential, and we are only seeing the beginning of cryptocurrency adoption in the country.
The exchange agrees that the Quilmes case demonstrates that cryptocurrency use is not limited to huge investors or cities, but rather that the utility is aimed at resolving financial issues in regions and villages with smaller populations and more popular economies.
“We met inventive, diverse people in Quilmes who wanted to learn more about this alternative financial system,” the worldwide bitcoin trading site said.
The Investor Profile of Cryptocurrencies
The investors are young middle-class people. Photo courtesy of AFP
Local investors tend to be middle-class youngsters between the ages of 20 and 35, with a university education. They are usually folks who are interested in technology and even have some knowledge of blockchain.
In comparison to other countries in the region, the user in the country has a higher socioeconomic level. The platform’s minimum investment for both buying and selling bitcoin is $10.
It’s worth noting that Germán Guismondi, Paxful’s exclusive advisor in Argentina, delivered an exclusive seminar in Quilmes at the end of last year on how to be a good salesman and how to increase cryptocurrency operations.
Paxful is a global corporation with over 3 million customers and a weekly transaction volume of US$21 million. The company had already been operating in Argentina, but through its partnership with Criptofácil, an Argentine platform for the acquisition and sale of cryptocurrencies, it increased its investment this year.
Paxful is also interested in the country because of the low level of banking among the population. “In Latin America, and particularly in economies like Argentina, there is widespread mistrust of financial institutions. This causes people to look for new ways to manage their finances “he stated