In this stage, Bitcoin is also an asset that can be legally bought with pesos to preserve or sell abroad, and as it happened in the last stocks, it returns with force in this new edition. An example of this is that between August and September, sales and new Argentine users grew between 20% and 30%.
You, a rookie Padawan or a learned investor, can ignore, fear or prejudge him, or follow this simple 6-step guide that the NGO Bitcoin Argentina put together to show the ease with which you can access your first Bitcoins.
Basic guide to buy Bitcoins in Argentina
Before we start, there are several ways to buy in Argentina, but if you thought it was a way to evade control, we recommend that you look elsewhere. Although there will always be someone willing to sell directly, or with platforms such as localbitcoins.com, the app Hodl Hodl the inclusive Free market, the vast majority, for security and convenience, will choose to buy their Bitcoins from one of the many local brokers or will try their luck at one of the few ATMs after registering their ID.
When you have Bitcoins you can then sell them for dollars in foreign brokers, transferring your balance later to an account abroad.
- 1st Step: Download a Wallet app.
o A good option is coinomi.com. Carefully follow the steps indicated and write in ink on a piece of paper the 12 words that he gives you and then lock that paper, do it. You already have your first Bitcoin Wallet.
- 2nd Step: Choose a broker.
o In coinmonitor.info you will see a fluctuating ranking of the main brokers, according to their final purchase and sale prices. The price difference is based on your internal demands, it is up to you to choose which ones to trade with. We recommend choosing according to requirements and times.
- 3rd Step: Register to trade.
o You must prove your identity. For this, most will ask for your photo with your ID and a paper with the current date on hand. Some may also request services in their name, telephone number and even affidavits. Discharge can take between 30 min and a day.
- Step 4: Make a deposit.
o Most brokers accept transfers, deposits, Mercado Pago, Rapipago, cash and others. Check the commissions that vary between 0% and 2.5%, and the accreditation times between a few minutes and a day.
- 5th Step: Buy Bitcoins.
o With money in your account, place a purchase order. See execution times that vary between snapshots and 24 hours. They will then appear as a balance in your account.
- 6th Step: Pass the Bitcoins to your wallet.
o Enter your wallet app, put “Receive” and copy the address that appears, for example “1F1tAaz5 …”, then enter your account at the local broker and paste it where it asks for your address in the option “make a withdrawal in Bitcoins ”. Again check execution times. Ready, you have your first Bitcoins!
Investment, sale and volatility
Like all financial assets, 72 hours must pass for it not to be seen as an attempt to circumvent exchange regulations, but unlike the relative stability of the dollar, bonds or securities, Bitcoin has greater volatility. In general rules, Bitcoin is the asset that has appreciated the most over time, so, in the event of a decline, we recommend waiting and taking advantage of it to learn the benefits of this asset as a medium and long-term investment.
To sell them abroad, you will have first registered with an international broker and from your wallet app you will choose to “Send” pasting the address that your broker will have shown you (bitcoin.org/es/exchanges), and entering the amount of Bitcoins to be sold. If you want to sell them all, you will find an option in the menu that says “Empty Wallet”. Once credited, he transfers them to his bank account abroad.
Declaring your Bitcoins
Since 2018, Bitcoin is considered a kind of financial asset, and its holdings as of December 31 must be declared, although its categorization is still unclear. Despite this, you should know that the operations you carry out in brokers may be subject to requests for information from state agencies.
Courses in the NGO Bitcoin Argentina (DECODES).
The DECODES Civil Association (NGO Bitcoin Argentina) helps, since 2013, individuals, companies and governments to take advantage of the potential that this technology represents.
If you want to learn more about Bitcoin, the reason for its value or the underlying technology, Thursday through the NGO makes an open and free talk. It also offers consultancies and ad-hoc courses.
President of the NGO Bitcoin Argentina
