An Argentine cryptocurrency exchange, SatoshiTango now enables Argentines to sell their bitcoin holdings in exchange for fiat currency at any of the Rapipago location in the country.
Bitcoin Sales For Fiat Currency Withdrawal
Argentines can now change their bitcoin for fiat currency withdrawal at any of the Rapipago’s location in the country. The transaction at the moment attracts a commission of 1% of the value of withdrawal, and there is a minimum of 40 Argentine pesos per transactions.
The recent development further boosts the growth of the use of cryptocurrency in the country as this will enable easy use of cryptocurrency for conducting transactions.
The new development will be enhanced by the 4,000 Rapipago branches located across the country. The Rapipago service is in the testing stage, and at the moment each withdrawal on the platform has a maximum of 10,000 Argentine Peso.
Matías Bari, a co-founder of SatoshiTango, noted that their innovation is important because it will allow the unbanked to utilize the most extensive network of local bill paying service in the country to be able to change cryptocurrency holdings to fiat. For example, this will enable an individual to receive a payment in Bitcoin from abroad for a freelance job, even in the smallest town in the country.
Meanwhile, the Argentine exchange seeks expansion of its services with more innovation. The firm noted that the present template is the bill payment which is noted to work amazing, and people sell bitcoin and the firm pay the bill for their services. This idea is to integrate with more payment networks to offer everything from SatoshiTango.
Cryptocurrency use has seen a rapid growth of recent in most countries has there is an increase in its use as payment and also the use of the cryptocurrency ATM.
Recently, Cointext launched its services in Argentina along with Turkey. This service enables the use of the mobile phone with the network provider service to send Bitcoin Cash without internet service. This can be sent to a phone contact or a BCH wallet.
Also, Genmega and LibertyX partners to give Americans over 100,000 cryptocurrency ATM recently.