Bitso allows appropriating this crypto directly with regional currency from Argentina.
Bitso recalled that the Ethereum crimson was created in 2014 by a team of programmers. The goal of Ethereum is to build a decentralized network that permits the creation of smart contracts that execute an exit activity upon an entry order. These contracts are unalterable when written on the Blockchain.
With this new addition, Bitso adheres more direct import features on top of bitcoin and DAI. As indicated by the firm, the objective is to congratulate all Argentine users and grant them the possibility of dealing with an internationally regulated cryptocurrency platform’s security standards.
Bitso Seems to be Seeking New Alternatives
Andres Ondarra, Place Manager for Bitso in Argentina, argued about the incorporation:
“We are pleased about the growth of our services in Argentina and, after hearing from our clients the great interest in buying ETH more easily, we have empowered the communication to this cryptocurrency directly from Argentine pesos. In this way, we expand our proposition of communication and use of the most relevant digital assets in the world through our global platforms.”
Ether has been one of the best-performing assets during this subsequent year. On 1/1/2020, one Ether was worth $ 183. Recently, it came to over $ 1,800. This asset keeps catching the attention of investors and those interested in crypto worldwide. Some relevant aspects elevate Ether, according to Bitso.
The first aspect is that The Ethereum community received Serenity, an update of its Blockchain. This expansion will allow solving scalability and saturation troubles when there is high traffic.
Another highlight is that The Chicago Mercantil Exchange, one of the most critical institutions in the world when it comes to futures, chose to offer ETH futures that remain available since February of this year. Futures are products where they agree to buy or deliver a particular asset in a future term at a predetermined price.
The growth of decentralized finance: DeFi (decentralized finance) has now the full attention of new investors, institutions, and governments. This ecosystem strengthens users and encourages them to purchase financial products and services without interaction with third parties.
ETH Price Fluctuation and its Relationship with Bitcoin
Cryptocurrencies might receive some influence from the value of BTC. It is essential to take into account a series of aspects. One is how both currencies correlate.
The Beta serves to get an idea of how correlated the prices are between two assets: BTC and ETH. With the Beta being a subscription (the maximum correlation is 1), these two assets link to their respective prices. If one rises in price, the other will also do so. The cost of ETH is highly correlated to that of BTC. This trend is tending to decline these latest months.
By: Jenson Nuñez