In recent years, Argentina has experienced a notable increase in the adoption of cryptocurrencies, positioning itself as a leader in Latin America in this area.
In 2024, Argentina registered cryptocurrency transactions for 91,000 million dollars, surpassing Brazil. Experts highlight the need for regulation and education to optimize the use of cryptocurrencies in tourism.
This phenomenon has permeated various economic sectors, including the hotel industry, where more and more establishments incorporate cryptocurrencies as a payment method to attract a broader and more diversified clientele.
Why do pays with cryptocurrencies grow in Argentina?
According to data from the Argentine Blockchain Foundation, approximately 8.6 million Argentines, equivalent to 19% of the population, use some form of cryptocurrency.
This increase in adoption is due, in part, to the search for financial alternatives against inflation and exchange restrictions.
Between July 2023 and June 2024, the country registered transactions in cryptocurrencies worth 91,000 million dollars, exceeding Brazil in volume of operations.
The Argentine hotel industry has begun to adapt to this trend. Pinamar Hotel Beach is an example of how hotels in Argentina are adopting cryptocurrencies as a payment method.
This establishment was associated with the Kripton Market platform, allowing guests to reserve and pay their stay with Bitcoin and other cryptocurrencies.
In addition, reservations such as Travala have facilitated access to payments with cryptocurrencies in the hotel industry.
Through alliances with sector giants such as Booking and Expedia, users can book in more than 700,000 hotels around the world, including many in Argentina, using cryptocurrencies.
This integration demonstrates how the crypto ecosystem is transforming the way travelers pay for their lodging experiences.
Challenges and perspectives according to experts
Pablo Rutigliano, founder of Atomico 3, highlights the importance of implementing with greater speed and regulation the use of cryptocurrencies in the Argentine tourism sector.
According to Rutigliano, it is essential to educate businesses about the available tools to understand how to use this means of payment. In addition, it emphasizes the need for transactions to be rapid and that the system clearly identifies the evaluation and liquidation in dollars.
In this context, he suggests that stablcoins such as USDT (Tether) would be the most recommended, although he points out that currently credit and debit cards are not connected to these digital currencies. Solving this inconvenience would allow to load credit cards with USDT, which would represent a significant advance for the Argentine tourist ecosystem.
The adoption of payments with cryptocurrencies in the Argentine hotel industry not only offers a financial alternative to economic volatility, but also positions the country as an innovative destination and adaptable to new technological trends.
However, to maximize the benefits, it is crucial to advance in the regulation and education of both merchants and consumers about the effective and safe use of these digital assets.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
