In the framework of its regional expansion process, Paxful—one of the world leaders in the global peer-to-peer bitcoin (P2P) market—registered in the second quarter of 2020, a 37.5% increase in the volume of bitcoin exchange operations on its platform in Argentina compared to the previous period, while its number of users in the country grew by 284% with respect to from the previous year.
Through this platform, people can make transactions with bitcoins using various payment methods in a simple, fast, and secure way. Currently, the platform has more than 3 million clients in the world with a weekly average of operations for $ 21 million.
“We decided to land in the country with the aim of offering a new profitable option that allows Argentines to maintain the value of their currency in an unfavorable context marked by the constant devaluation of the peso,” explained Paxful manager for Latin America, Magdiela Rivas, time that added “in addition to being an excellent refuge of value, you can transact with bitcoins to send money abroad, pay bills, buy goods and contract services.”
Aiming to provide 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.
“In Latin America a financial revolution is developing between people, that is why at Paxful we adapt to this new paradigm and offer a new form of investment that allows achieving a more collaborative economy and financial freedom for all citizens,” said Rivas.
As a complement to its arrival in the country, the company has entered into an alliance with CriptoFácil, the Argentine cryptocurrency trading platform that will now add Paxful with its wide range of payment methods. In this way, the company continues to further strengthen its goal of financial inclusion to change the face of personal finance forever.
“We are very pleased with this alliance made with Paxful, which will allow us to offer Argentine customers new ways of operating to facilitate their access to the world of crypto. This agreement is an excellent opportunity for digital consumers to access in one place a competitive proposal with a variety of products and with the simplicity and security offered by both platforms, ” concluded Gustavo Adorno, CEO of CriptoFácil.