Paxful says there has been a significant increase in the exchange of cryptomoney in Argentina

As part of its regional expansion process, Paxful recorded in the second quarter of 2020 a 37.5% increase in the volume of bitcoin exchange transactions on its platform in Argentina compared to the previous period, while its number of users in the country grew by 284% over the previous year. This was reported to Cointelegraph en Español, through a press release.

It is worth remembering that, through this platform, people can make transactions with bitcoins using various payment methods. Currently, the platform has more than three million customers worldwide with a weekly average of operations for 21 million dollars.

Paxful Latam says it has increased its responsibility to the unbanked economy

Paxful’s Latin America manager, Magdiela Rivas, said:

„We decided to land in the country (Argentina) with the aim of offering a new profitable option that will allow Argentines to maintain the value of their currency in an unfavorable context marked by the constant devaluation of the peso. In addition to being an excellent refuge of value, it is also possible to trade with bitcoins to send money abroad, pay bills, buy goods and hire services“.

Connection and financial inclusion
Aiming to bring financial inclusion to the underbanked through the peer-to-peer finance model, Paxful connects buyers and sellers without intermediaries through more than 300 forms of payment, such as bank transfers, cash deposits and credit or debit cards.

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Magdiela Rivas added:

„In Latin America, a financial revolution is taking place between people, which is why we at Paxful are adapting to this new paradigm and offering a new form of investment that allows for a more collaborative economy and financial freedom for all citizens“.

Alliance with CriptoFácil
As a complement to its arrival in Argentina, the company has made an alliance with CriptoFácil, a platform for buying and selling crypto-currencies that will now add Paxful with its wide range of payment methods.

Gustavo Adorno, CEO of CriptoFácil, referred to this joint work:

„We are very happy with this alliance with Paxful, which will allow us to offer clients in Argentina new ways of operating to facilitate their access to the world of crypto. This agreement is an excellent opportunity for digital consumers to access a competitive proposal with a variety of products and with the simplicity and security offered by both platforms in one place“.

Paxful’s Manager for Latin America: „Bitcoin has performed better than the Argentinean Peso or the Venezuelan Bolivar“.

About Paxful

Paxful is a people-driven marketplace that allows for money transfers between peers. They said their mission is to empower the four billion unbanked and underbanked people around the world to take control of their money by conducting peer-to-peer transactions.

The company, founded in 2015, has more than three million customers worldwide who can buy and sell bitcoins, using more than 300 different payment methods.

Building schools
Paxful also reported that they launched an initiative called #BuiltWithBitcoin, which aims to build 100 schools funded entirely by bitcoin in emerging markets.