Javier Milei will be the new president and waiting for the opening of markets, the crypto dollar either “Bitcoin dollar”, which is the reference price for analysts and which operates 24 hours a day, is already selling above $1,000.
This quote reached increase on Sunday 20% up to $1,200based on the average among local exchanges reported by Coinmonitor. However, in the last hours it falls 4.58% to $1,007.41.
After hearing the winner’s speech and several statements in various media this Monday, the crypto dollar changed its trend and on Monday afternoon he drilled the $1,000, and came to operate at $998 on average.
This exchange rate is important, since the value of the crypto dollar offers indications about the eventual evolution of the parallel exchange rate. In this framework, it is worth remembering that the blue dollar is trading at $950 and that the MEP dollar is at $872.
Crypto dollar: everything about its price
The crypto dollar operates completely digitallywhich allows it to be available 365 days a year, 24 hours a day.
Specific, cryptocurrencies are purchased through virtual wallets. But they are not all cryptocurrencies, but only the so-called stablecoins whose value is tied to the dollar US.
For its part, The 3 most traded are Tether (USDT), USD Coin (USDC) and Dai (DAI).The parity is a DAI, a USDT or a USDC, whose value is equivalent to one dollar. Like 30 years ago, with convertibility, but instead of pesos, cryptocurrencies.
Regarding its transactions, since the purchase and sale of cryptocurrencies is outside the traditional exchange market, quotes and operations are not suspended on weekends or holidays nor after 3 in the afternoon, when the banks close: they are still available 24 hours a day, 7 days a week operating. That is to say, you can buy crypto dollars not only from Argentina but from anywhere in the world.
The crypto dollar, being unregulated, offers a more speculative and riskier optionbut for that reason no less attractive for those who want to move away from the formal market and enter a world of uncertainty, volatility and the prospect of profits without the intervention of outsiders.
Crypto dollar – digital dollar: how to buy
To buy stablecoins either digital dollars in Argentina is to open a “digital wallet“To buy stablecoins with pesos or dollars, we have savings and then sell them to have traditional currency again. Other “digital exchange houses” that currently facilitate these operations are Ripio, Satoshitango, Bitso and Buenbit, among others.
First, the sites ask to create an account by giving the main personal data. They can then demand to verify the reported identity by sending a photo of the ID and taking a selfie. Once this is finished, the wallet is created.
Once you have the wallet, you have to send the dollars or pesos that you intend to invest or digitize there. This can generally be done by transfer from a bank account (by CBU) or from a virtual wallet such as Payment Market (by CVU), and in some cases in cash via Easy Pay either Rapipago.
From the moment the deposit is made, crediting to the wallet may take 24 or 48 hours.
Once the funds are deposited into the wallet, the saver is now able to convert them into the stablecoin of their choice, with a few clicks. To do this he must go to the menu buys of each system and indicate how many of the deposited pesos or dollars you want to transfer to the cryptocurrency.
After giving the order, the operation is carried out at the current exchange rate and is finished in minutes. In the wallet, instead of pesos or dollars, their virtual equivalents appear.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
