Argentinians Are Now Using P2P Markets to Multiply Their Savings – Bitcoin News

Argentinians now realize that peer-to-peer (P2P) markets can be used for increasing or maintaining their crypto- and foreign currency savings. According to media outlets, more Argentinians now use P2P marketplaces and exchanges for arbitrage. They also earn money by being paid as P2P Cashiers. Maximiliano Hinz is the Binance operations director for P2P. He claims that their business in this area has grown by 40% over the past month.

Argentinians rush to P2P Market Boom

Argentinians are becoming more aware of the ways liquidity providers on P2P markets can make large amounts by arbitraging across different markets. Local media reports that this strategy could double the monthly savings of investors, depending on whether there are payment options available and the abilities of the P2P cashier.

They can buy crypto on cheap exchanges and sell it in international markets with higher demand. This isn’t a guarantee, however, because P2P cashiers must manage multiple payment methods and accounts in order to offer customers interesting options and to score large spreads on different exchanges.

There are many exchanges in Argentina that operate P2P markets. This means that they act as exchange platforms for users who wish to trade cryptocurrencies with fiat currencies. These exchanges include Binance and Paxful as well as Okex, Airtm and Localbitcoins.

Growing and earning

Different businesses have verified the local growth. Maximiliano Hinz of Latam, Binance operations director, said:

This growth was quite natural. Our active users have grown by 40% over the past month due to the nature the business.

Renata Rodríguez, marketing manager for Paxful Latam, stated in the same vein that new user registrations in Argentina increased more than 110% in the last year.

While other companies may not have provided precise figures, they stated that they also observed a rise in P2P market activity. This is the case with Alex Vázquez, P2P operations manager of Okex, who stated:

Particularly, we noticed a significant rebound from last month.

These traders will need to have different payment options in order to benefit from the spreads that are available depending on which markets they trade. Some sources claim that unusual payment methods like Payoneer, Paypal and others can yield better earnings. They are popular among freelancers looking to make fiat and crypto payments through these platforms.

Amazon gift cards are often available at a discounted rate of 25% and can later be sold for face value in other countries. For P2P cashiers who prefer stablecoins like USDT, volatility is a concern.

How do you feel about Argentina’s rise in P2P? Leave a comment below.

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