Inflation-riddled Argentina Starts Teaching How to Buy Bitcoin, Ethereum

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Tim Alper

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Tim Alper

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Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

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June 26, 2023

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If you are lost in the world of crypto, or are a newbie looking to make your first bitcoin (BTC) trade, have no fear – the Argentinian government is ready to take your through your first steps into the Cryptoverse while the inflation rate in the country is still one of the highest in the world.

Therefore, it might not come as a surprise that the government of Argentina has prepared a beginner’s’ guide to buying and trading crypto.

The guide can be found on the Con Vos en la Web (With You on the Web) section of the government’s Ministry of Justice and Human Rights website.

Entitled “What are cryptocurrencies?”, the guide explains the differences between cryptoassets and e-pay platforms such as PayPal.

The guide goes on to talk about how miners validate crypto transactions on blockchain networks; and speaks about some of the most popular tokens out there, such as bitcoin and ethereum (ETH).

What can you do with crypto, per the Argentine government?

Well, Buenos Aires does not actively suggest trading tokens for profit, but it does make several references to “trading” tokens, and added that citizens could use them to “save money.”

The inflation rate in Argentina:

Where does the government say you can buy crypto?

Its first suggestions sound quite straight-laced:

“Officially recognized operators such as Ripio, Binance and Cryptomkt, which are registered sites and require a [linked] bank account.”

But it then goes on to suggest that one can buy crypto from “other people” or “from [P2P platform] localbitcoins.com.”

Weekly LocalBitcoins, a peer-to-peer bitcoin marketplace, volume (in bitcoin) in Argentina:

The guide concludes with a few tips on how to keep your crypto safe, including tips about password protection and using a
bove-board apps.

This move comes a few months after the government imposed a flat rate of 15% tax on all transactions conducted using crypto assets.
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