Some businesses in Buenos Aires and the interior of Argentina accept payments with this method. Retailers are satisfied with the speed and simplicity of transactions with cryptocurrencies.
A jewelry store in La Pampa, Argentina, recently made a sale with cryptocurrencies, thus adding that sector to the adoption of Bitcoin. The item traded was a watch worth ARS 30,000, equivalent to USD 164. The buyer used Tether (USDT) for the operation, but the establishment also accepts payments with Bitcoin.
The owner of the store, Hugo Iglesias, said that he decided to accept cryptocurrencies as payment for all his services. When he put the sign on the window, he received many inquiries while the providers started accepting cryptocurrencies.
Regarding the billing, Iglesias explained that he treated it as an ordinary transaction. He stated that everything was easy and fast, unlike what happens with credit or debit cards. He said that they made him wait to collect the sale proceeds while the accreditation of funds with cryptocurrencies was instantaneous.
That jewelry store is not the only one accepting payments with Bitcoin and other cryptocurrencies as adoption is growing in other firms in the area. That is also the case of Buenos Aires jewelry Libertad 74, where buyers can use any cryptocurrency or stablecoin.
Trading and Investments with Cryptocurrencies Grow in Argentina
The prices of jewelry in Argentina are highly dependent on the US dollar. For that reason, cryptocurrencies can contribute to conducting high-value operations amid the difficulty of accessing the US fiat currency in Argentina.
Argentines are looking for alternatives to protect themselves from devaluation and inflation, but the government continues to impose restrictions. That makes the dollarization process even more difficult in the South American country, which is why many people have opted for the digital dollar. That is a set of assets known as stablecoins that represent an option that allows safeguarding value.
In that sense, the adoption of cryptocurrencies in the commercial sphere in Argentina is something increasingly frequent. A real estate agency in Buenos Aires recently pre-sold an office still under construction.
Oslo Properties co-founder Patricio Rozenblum said that the buyer of the property paid the total value in Bitcoin. Cryptocurrency exchange SatoshiTango assisted the real estate agency in settling the operation.
Regarding the transaction, Rozenblum stated that it was simple and there were no fees to pay in the future. He said that the deal would have been complex if the payment had been in installments due to the volatility of Bitcoin.
In the capital of Argentina, citizens can also buy other things with cryptocurrencies, including brand new vehicles, tires, spare parts, and accessories. Concerning cars, the buyer takes advantage of a plan to pay for the reservation in crypto assets.
Buyers of tires can use Bitcoin and other cryptocurrencies as part of a campaign called Pay as You Like. They can also purchase spare parts and accessories and receive services like wheel alignment and balancing with crypto assets.
By Alexander Salazar
