Argentina: Blue Dollar vs. Bitcoin

At the end of Wednesday’s trading, the Blue Dollar was averaging $124, according to the leading Argentine online media. While the Bitcoin Code dollar can be found at $123 on the main local exchanges.

Argentina is experiencing a real exchange rate chaos with different values for the greenback. Currently, the official dollar has a price of $ 71.50. A private investor can only buy up to $ 200 per month, adding a 30% tax, so he ends up paying $ 92.95.

On the other hand there is the cash dollar with liquidation, which has a current value of $ 114 and the stock market dollar at $ 109.

Bloomberg analysts predict a Bitcoin of US$ 20,000 at the end of the year

Blue Dollar or Bitcoin Dollar?
First of all, it’s worth clarifying that buying Blue Dollar is illegal, since it must be done through a „cave“ or through a „friend“. Although it is a low volume market in the country, it is important enough to set the price of the „free dollar“.

Another dollar that is steadily growing in Argentina is the Bitcoin dollar, which there are no limits to buying. This is a very simple operation that can be done in local exchanges such as SatoshiTango or Ripio.

As long as you can justify where your money comes from, you can buy as many Bitcoin dollars as you want. At the time of publication you can buy it at SatoshiTango and Ripio for $123, one peso less than the current value of the Blue dollar.

The value of the Bitcoin dollar comes from dividing the value of the BTC in Argentine pesos by the value that is traded in dollars in the international markets.

Value of Bitcoin in international markets

The price of Bitcoin in the international markets is US$ 9,900 at the time of publication, according to the Binance exchange. All eyes are on the psychological resistance of the 10k.

You have to keep in mind that the Bitcoin is a highly fluctuating currency, so saving in it requires you to take risks, especially in the short term. In the long term, the BTC has shown good returns.

The advantage of having the physical ticket is that you can make immediate liquidity, but you will always have to resort to the Blue market to be able to sell it expensively. The disadvantage is that physical notes can deteriorate and you need a place to store them safely, whereas Bitcoins can be kept safe in a digital wallet.