What are the benefits of the so-called crypto CCL?
First of all, the exchange rate. In case you have to start from Argentine pesos, acquire digital dollars and send them to a bank account in the US it is more convenient than the CCL. Conversely, if you send dollars from a US bank account to a Bitso account, the exchange rate that is obtained is also better for the user than doing it through the bonus operation. The user can also decide whether to keep them as digital dollars or when to convert them to pesos.
In second place, there is no parking. While acquiring dollars through CCL requires maintaining a bonus for a minimum of 48 hours, USD Wires are immediate, avoiding the uncertainty that arises from the fluctuation of the exchange rate.
Third, to access dollars through the CCL, the bank account in the United States must have the same ownership as the original account in Argentina. Instead, Bitso USD Wires can be used with accounts that are not ownedwhich translates into additional advantages such as payment of services, capitalization, among other uses.
More winners: freelancers and the BCRA?
The pandemic accelerated the rise of remote work around the world. During 2021, 23 million Latin Americans worked under this modality. Argentina, Colombia, Mexico and Peru represent 70% of international contracts within the region. Particularly in Argentina there is a growing group of professionals, mainly from the knowledge industry, technology and other high value-added activities, who provide their services abroad and collect their fees in the United States.
For all of them, the service of USD Wires will be very useful to receive the money in Argentina, without quotas or maximum limits, whether you want to keep them in dollars or later convert them to pesos. And, in case you want to convert them to pesos, the exchange rate is more convenient than any other alternative, and without intermediaries.
Finally, This operation could collaborate with the current needs of the Argentine macroeconomy. Operate through the Cash with Crypto takes pressure off the CCL and it could mitigate the pressure on that exchange rate and ultimately contribute to the reduction of the current exchange rate gaps and the objectives of the Central Bank itself.
This function is enabled for all Bitso individual or corporate users in Argentina through its website. To start using it, you only have to register the destination bank account and thus start using all the benefits of Cash with Crypto.
Source: Ambito
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