Some recommendations for Argentines to start investing in cryptomonies, according to Paxful

The crypto-currencies are offering alternatives to the Argentineans to be able to invest

The crypto-currencies are offering alternatives to the Argentineans to be able to invest, since more and more small savers are turning to the digital economy, avoiding the official restrictions to access the dollar and as an opportunity to protect the value of their money. In this context, Paxful shared some recommendations with Cointelegraph en EspaƱol.

During the first days of 2021, the bitcoin – the main crypt currency used in the country – has broken all its records. At the time of writing, the price of a bitcoin is over USD 40,000.

The increase in price is one of the factors that generates that every day more citizens not specialized in the subject feel attracted to get on the crypto train, especially in those countries that present economic difficulties like Argentina.

What are crypto currencies and which are the most used in Argentina?

Crypto-currencies are digital assets that function as a means of exchanging value. They can be transferred from person to person with the same ease as sending an e-mail and with high security. In Argentina, according to Paxful, the most used are Bitcoin, USDT (Tether), Ether, DAI and Monero.

What are the steps to follow to start operating with crypto-currencies?

Getting started in the crypto world is a simple thing that any trader, freelancer or individual user can do in a few steps.

Although it is possible to trade between individuals, without having to open an account with a company, Paxful recommends opening an account on a platform.

In these cases, it is normal for the user to be asked to verify their identity, and finally, once the account is set up, they can start trading.

Regarding the operation of the Paxful platform in particular, they detail: „To buy, the user can open a purchase offer with its conditions to attract interested parties to sell Bitcoin Loophole, or can also enter the available sale offers, see which is the most convenient and which corresponds to their payment methods. When you open the store you will have a chat window with the seller where you will be told how to make the payment within 15 to 30 minutes. Once the transfer has been made, you must click on the payment made button and wait for the seller to verify that the money has been deposited into your account. Once this is done, the seller will release the bitcoin to your wallet.

„In the case that the user wants to sell his crypto-currencies, he can create a sales offer with his conditions, or also enter the available purchase offers and in this case he will be the one to provide the data of the chosen payment method to the crypto-currency buyer. Once the money is transferred to his account, he will proceed to release the bitcoins to the buyer’s wallet,“ they added.

When you are new to the business, it is advisable to operate with users with a good reputation and positive feedback. Likewise, you should always ask for proof of payment and release the bitcoin once you have it available.

Is it safe to operate with crypto?

Paxful replies: „Thanks to blockchain technology, operating with digital coins is highly secure. It works as a decentralized network in which all transactions made publicly on all computers in the network are recorded and verified.

Likewise, on platforms such as Paxful, users are offered a guarantee deposit or escrow, which ensures a transaction experience that tries to be fair for both parties since when a transaction is initiated, the bitcoin from the seller’s purse is automatically transferred to a temporary secure deposit account where it will be kept until the transaction is completed.

What are the requirements for trading?

Those who start trading with crypto currencies can do so through a peer-to-peer platform, which connects buyers with sellers by offering liquidity, price and payment method diversification, and more freedom of choice for the buyer.

At Paxful, the only requirements are that the user must be over 18 years old and make a minimum investment of 3 USD.

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