Digital dollar in Argentina: have banknotes?

Savers, investors and freelancers now have a new way to exchange their cryptocurrencies without losing privacy and safe

Although the prices of major cryptocurrencies are far from the records of a year ago, become popular as a way to saveespecially in countries with high inflation and controls on the purchase of foreign currencies, such as Argentina.

For example, companies in the sector are developing new solutions for users to carry out more and more transactions with virtual currencies. In the country, One of the related companies with the greatest potential is ATMs that allow you to withdraw pesos or deposit cryptocurrencies.Among other features.

According to CoinATM Radar, there are about 39,000 crypto ATMs distributed in 78 countrieswith the United States at the top of the rankings.

What are ATMs and how do they work?

Crypto ATMs allow you to sell cryptocurrencies and obtain pesos, dollars or other monetary signs. Also enter currencies to exchange them for digital assets. Thus, users have a reliable way to acquire cryptocurrencies with cash or with credit or debit cards.

There are already about 13 in Argentina, so the potential is still great. In this sense, Action Point Developed Crypto Solution, what makes possible re-convert existing ATMs to join the “crypto wave”although there are certain obstacles on the part of the Central Bank.

While the BCRA banned traditional entities from promoting this type of asset, ATM networks operated by non-banking companies may include this functionality.

“Globally, one of the most important requirements for banks has to do with compliance, which is why crypto ATMs must demonstrate capabilities to manage their customer baseespecially on wallets that may be linked to criminal activity,” he says iProUP Martin Kopacz, director of operations at Lirium.

The company, founded by Argentinians and deployed in Liechtensteina country with some of the most modern crypto regulations, offers a white label solution covering all digital currency management. Companies can add these features directly in their interface “without touching a single bitcoin”.

Segun Kopacz, “Crypto Solution is a cryptocurrency tool for financial apps encompassing all regulatory, technical, operational and safety aspects”.

Among those who have already installed these terminals in the country is: Athens Bitcoin through arrived. “Ruru is a comprehensive financial foundation that simplifies the use of digital currencies and electronic banking to strengthen economies with low financial inclusion,” they affirm iProUP from the company.

This system is integrated in a large number of devices and allows you to perform a wide range of operations: from access to a virtual wallet to exclusive cryptocurrency ATMs.

Regarding the future business, Iñaki Apezteguia, teacher and co-founder of Criptovisión, points out iProUP : “In the future, fiat money no longer has a physical entity and becomes digitalso that traditional ATMs will disappear and at the same time, crypto ATMs will grow.”

Athena Bitcoin has installed a dozen ATMs in the country

Athena Bitcoin has installed a dozen ATMs in the country

What benefits can crypto ATMs provide?

Since Athena Bitcoin notes that: the use of crypto ATMs allows for greater financial inclusionas anyone can buy or sell digital currencies with relative ease.

“Currently, those who want to acquire cryptocurrencies can register at an exchange office. But many refuse to do so, as they seek a greater degree of privacy: ATMs allow you to operate P2P (person-to-person) quickly, privately and securelyhe adds.

While the BCRA was against Galicia and Brubank offering cryptocurrencies, experts believe that: In the future, the operation of cryptocurrencies from home banking will be something “normal” .

“Surely, the whole banking system will include crypto as an added assetwhich offers everything from buying and selling to the opportunity to make investments,” predicts Apezteguia.

The expert warns that “it will be important to see how Bitcoin will evolve. The experiences will grow in other countries and that will have repercussions. In fact, we are already seeing top banks around the world offering crypto asset-linked services.“.

“Although Bitcoin ATMs have different security processes, such as the authentication model or QR codes, our solution is directly linked to banks that want to implement this technology to ensure full ownership and control over the end-customer experience rather than full support,” he says iProUP Gastón Gil, director of Action Point.

Action Point partners with Lirium to convert existing ATMs into cryptocurrency ATMs

Action Point partners with Lirium to convert existing ATMs into cryptocurrency ATMs

According to the expert By integrating the Crypto solution into the traditional banking system, clients can be offered cryptocurrencies such as Bitcoin, Ether, and stablecoins, among other options.

Our system is ideal for mobile banking, digital wallets and financial services applicationssince this solution of backend allows these entities to maintain their own applications as the single point of contact with their customers,” he notes.

That’s why it says that “brings greater reliability, convenience and accessibility to this digital currency designed to provide greater economic reach to the user in the current era”.

In a nutshell, will mean a powerful stream of income. This way they assure the company that they will go hand in hand with technological evolutionso that they can provide new generations of highly effective solutions.

He argues that more and more the crypto storytellers will be a basic need for optimal growth mobile banking and virtual wallets.

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