Bitcoin have a big potential in Argentina


photo credit: cordyph

Argentina is exposed to fluctuations of currencies because the inflation and the legislation. The trust in the argentine Peso is deranged so the Peso had reached an all-time low in these days. This facts increase the interest in crypto-currencies like Bitcoin because the digital currency can be traded safer than the Peso. As payments in Bitcoin are going directly to the subject, Argentines use it to keep perks from the national tax authorities.

The argentine startup Bitpagos knows the market in the Latin American Area and offer a payment system which can be use in the hotel and travelling industry in this days. And they want to take a step in all industries. Therefore they reached an initial finance about $ 600,000. With this money Bitpagos will finance more staff to reach more customers in Brazil, Chile and Ecuador. By now the company works with $ 150,000 per month and in the future they want to upscale about 1 million per month.

For the electronic payments Bitpagos take a fee about 5 per cent for credit card processing. For all those who pay with Bitcoin the service is for free. The major challenge for Bitpagos now is to convince the argentine from the technical safety system from electronical payments. The argentines are very scaptical about this – even ATMs can’t win through in Argentina.

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