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Argentina was once one of the more prosperous South American countries, but now faces massive default due to currency manipulation and massive inflation.

In April of 2020, it came to light that the Argentinian government may default on $65 billion worth of foreign debt. And with this news came massive pumps in the Bitcoin market as citizens attempted to dump Argentinian Pesos for harder, more reliable money like Bitcoin.

(1/2) Argentines are dumping record amounts of pesos for #bitcoin on LocalBitcoins, as the government is about to default on its debt (https://t.co/rSYFq8gDSD) and the currency is suffering from inflation. pic.twitter.com/oTFYadike4

— Arcane Research (@ArcaneResearch) April 23, 2020

With the inflation rate in Argentina around 50%, many people are trying to dump their Pesos for Bitcoin. If you are one of them then this is the guide for you!

One of the easiest ways to buy Bitcoin in Argentina is through cryptocurrency exchanges. There are several exchanges offering Bitcoin in Argentina, and you can easily select one based on your requirements and preferences using our guide. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.

Additionally, Bitcoin buyers need to keep in mind the fact that certain exchanges might require them to get a wallet of their own before they are able to buy the digital currency. Also, it is recommended to have a wallet of your own for security reasons, preferably a hardware wallet. If you don’t have a wallet, refer to our guide on the Best Bitcoin and Cryptocurrency Wallets to choose one.

Another way to buy Bitcoins in Argentina is through automated teller machines (ATMs). These ATMs allow users to instantly purchase and sell cryptocurrency using cash, however most of them require at least a phone number, so they aren't totally private.

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There are three main types of Bitcoin wallet and all of them are supported in Argentina:

• Software (desktop or mobile - iOS and Android wallets
• Hardware wallet
• Cold-storage (paper or steel wallets, the latter of which are used to backup your main wallet.

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Ethereum (ETH) has established itself as the second most popular digital currency, after Bitcoin. Its smart contract features allow unique apps to be built on top of its platform. Below you will find exchanges in Argentina that allow you to buy ethereum. Once you buy, you should withdrawal your ETH directly to your own crypto wallet.

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Thanks to Tesla founder Elon Musk, Dogecoin (DOGE)—a coin that started as a meme about the shiba inu dog—has recently become a popular digital currency. Below you can find crypto exchanges in Canada that allow you purchase Dogecoin.

About Dogecoin: Dogecoin has become one of the most famous altcoin blockchains. Dogecoin was founded by Jackson Palmer and Billy Markus on December 6, 2013. Thanks to its popularity on Robinhood, it hit an all time high of $0.42 on April 20. Doge started the year at under $0.01 USD. It is an open source blockchain, meaning its code is publicly available for anyone to see.

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Litecoin (LTC) is one of largest cryptocurrencies by market cap. Below you can find a list of brokerages in Argentina that allow you to buy litecoin and other crypto assets for good exchange rates.

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Monero Ransomware Attack

In July of 2020, Argenitin'as largest telecom company, Telecom SA, experienced a ransomeware attack, wherein hackers gained acccess to the Telecom companies network and encrypted all files, thereby locking out employees. The hackers demanded that Telecom SA pay the hackers $7.5 million in the form of the privacy coin Monero.

Argentina's major telephone company, Telecom, just got hacked. Hackers requesting a ransom of $7.5 million in Monero. $XMR pic.twitter.com/AGNvAXh1cg

— Alex Krüger (@krugermacro) July 19, 2020

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Does Coinbase work in Argentina?

Coinbase ONLY allows crypto-to-crypto conversions for Argentinian residents as of September of 2020.

Where Can I Find a Bitcoin ATM in Argentina?

You can find 12 Bitcoin ATMs in spread out across Buenos Aires as well as one in Rosario.

You can use our Bitcoin ATM finder tool to find one near you.

What is the price of Bitcoin in Argentina?

Bitcoin prices are changing every second.

The best way to find the most up-to-date price of Bitcoin is to check out our Bitcoin price page.

Which stores accept Bitcoin in Argentina

Bitcoin is accepted at lots of stores and service providers all over Argentina. So many, in fact, that we couldn't possibly list them all here. However, you can find specific kinds of services and goods filterable on a map over at coinmap.org.

The colored sections indicate areas where there is heavier acceptance of Bitcoin

How do I cash out of Bitcoin in Argentina?

Any exchange with an Argentinian Peso trading pair will allow you to sell your Bitcoin for fiat currency. Bitex and Buda have ARS trading pairs for many popular coins.

LocalBitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. LocalBitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems.

You could also use a service like eGifter to sell your Bitcoin for gift cards.