This post will cover the various options available to buy Bitcoin, as well as other currencies, in Argentina.
We will review different methods of purchasing the cryptocurrency in Argentina. Some are anonymous and some require identification. Here you can find more information about maintaining your privacy when you purchase Bitcoin and Alts.
First get a Bitcoin wallet
As always, before buying any currency, we caution that it is not advisable to keep your crypto in trading broker sites/exchanges which sometimes close, hacked or may freeze or delete the user account for various reasons. Crypto coins should only be stored in a reliable wallet. Here you can read about common Bitcoin wallets and how to protect your holdings.
Bitcoin’s popularity in Argentina
Bitcoin is very popular in Argentina and is a real alternative to the local currency, the Argentine peso. The Central Bank of Argentina’s 2019 restrictions on buying dollars and buying Bitcoin with credit cards has increased the popularity of crypto even more. Bitcoin’s November 2019 rate was almost 40 percent (!) higher than the average price of Bitcoin on stock exchanges around the world. This is a testament to Bitcoin’s strength over the local peso that suffers from hyperinflation for years.
Crypto exchanges and P2P sites
One of the oldest Bitcoin exchanges, and one of the first that accepted credit cards. Coinmama has a simple user interface, and within minutes you can get approved and complete the transaction. The purchase fee is high, partly because of the complex clearing approval process. But the stock exchange is considered to be one the most reliable and stable. Click here for a complete registration guide.
Pros: Veteran and reliable stock exchange, available in dozens of countries around the world, allows Bitcoin to be purchased with credit and debit cards.
Cons: High fees, identification required.
Another reliable Bitcoin exchange, that is also operating in several South American countries, including Argentina. CEX.io enables purchasing of Bitcoin by credit or wire transfer AstroPay / ACH / SEPA. The interface is more complex than CoinMama and may not be suitable for inexperienced users. Click here for a complete registration guide. Click here for a credit-card purchase guide.
Pros: Reliable stock exchange, good customer service, fees are very low.
Cons: The process of getting to know the customer is long and comprehensive, including pictures.
LocalBitcoins is a P2P (person-to-person or peer-to-peer) exchange. It was one of the first P2P Bitcoin exchanges, and is the largest one today. LocalBitcoins is an escrow service. The seller and the buyer meet at the virtual trading arena and agree on the terms. The site itself serves only as an intermediary between the two parties. The most common method of payment for purchase is cash deposit. However, users may advertise trades for whichever payment method they prefer. Click here for the full review.
Pros: privacy, flexibility, most transactions are made in cash.
Cons: Most deals are on small amounts.
Wall of Coins is another decentralized peer to peer cryptocurrency exchange in which users connect with one another. It operates since early 2017 in the US. Wall of Coins is not regulated, but that it very common when it comes to cryptocurrency exchanges. Wall of Coins has a good reputation and is considered a reliable exchange. It was never hacked and it has a large client base. The exchange doesn’t have a lot of trading possibilities, but that is a good thing since the trading process is simple and straightforward. Deposit and withdrawal options are wire transfer. Click here for the full review.
Pros: privacy (only your phone number is required), flexibility, low fees.
Cons: Most deals are on small amounts.
Trezor or Ledger. Click here to read our Guide to Bitcoin and Altcoins wallets 2019.