Since the beginning of the Coronavirus crisis, the world economy has been under enormous pressure. With hundreds of companies around the world facing great difficulties. But for Binance things have been different, because since the beginning of the pandemic it seems that the exchange has only been strengthened with new products and services. Therefore, today we invite you to learn about the new payment methods in Binance for Argentina.
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The advantages of decentralization
There has never been a better time to demonstrate the value of decentralization. For, in the midst of the economic crisis generated by the Coronavirus, traditional organizations with centralized structures, for the most part, have not been able to adapt efficiently to the new conditions generated by the pandemic.
While more decentralized companies such as Binance, Coinbase or Ripple, have not only adapted to the new world situation. They have also managed to prosper by taking advantage of the flexibility of their internal organization, to allow their employees to innovate and create new products and services, Binance being the best example of this dynamic.
Thus, in the last six months we have witnessed the launch of dozens of products and services by the exchange. While they manage to also organize world-class events, and maintain the core of their business, the exchange between cryptomonies, in optimal conditions. They focus particularly on providing facilities to convert fiat money into cryptomonies, which is why they have added new payment methods to Binance for Argentina.
Binance announces P2P trade in Argentina
Binance in Argentina
One of Binance’s main objectives is to expand the adoption of cryptomonies worldwide. To this end, facilitating the exchange of fiat money for cryptomonies is paramount. Until very recently, this process was quite cumbersome for users not familiar with technology or finance. This kept dozens of potential crypto users away.
Therefore, Binance launched its P2P exchange platform. This platform allows people in dozens of countries around the world to easily exchange their crypto currencies for fiat money. Thanks to this, people in countries such as Venezuela and Argentina, which have been subject to high inflation for several years, can exchange their bolivars or pesos for more solid virtual currencies such as Bitcoin in a matter of seconds.
This has opened the doors for Binance to a potentially huge market in Latin America. Which the exchange does not seem willing to waste, so it has launched three new payment methods for Argentina. This will allow the inhabitants of the southern country to buy and sell crypto-currencies for Argentine pesos using their accounts in Mercado Pago, Uala, and Banco Brubank.
With this novelty, Binance would be trying to take the initiative in a market practically unexplored by the crypto industry worldwide. And that it can bring millions of dollars in profits to the exchange if it is properly developed.