Argentina's Crypto Boom: Retail Giants and Luxury Brands Embrace Digital Currency Revolution
May 21, 2024The cryptocurrency movement in Argentina is gaining momentum across various industries.
Retail giants like Newegg and Home Depot are using crypto for low transaction fees and instant settlements.
Luxury brands such as Gucci and Ralph Lauren are attracting affluent customers with crypto payments.
Investing in cryptocurrencies in Argentina requires opening an account with an exchange using a valid ID and a bank account, with a minimum investment of around US$10.
Cryptos can be stored in a digital wallet for security, and transactions can be done peer-to-peer or through DeFi.
Bitcoin can be converted to pesos at ATMs in Buenos Aires and Rosario, with Athena having the largest network of ATMs in the country.
Other ATM companies like Ibitt and Arabian Finance & Exchange are expanding their networks in different cities.
The growing acceptance and use of cryptocurrencies highlight their increasing importance in the global economy as businesses innovate for modern consumers in a digital-first economy.
Summary based on 5 sources
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Sources
Quartz • May 21, 2024
8 things you can buy with BitcoinFinSMEs • May 21, 2024
10 Industries Where Cryptocurrency is Excelling as a Payment Method