Topic: Bitcoin becoming a safehaven currency in Argentina - page 8. (Read 1682 times)
People will look for alternative if a financial crises struck a country strategically they are on their own even it involves risk, more and more countries will suffer a scenarios like this if deregulation and government continuosly losing power financially. This is the downside if we fully intrust our money to banks better if we diversify our financial capabilities looking for alternative money, thinking in advance could save us from worst cases.
I guess the workaround is buying bitcoin and then taking a trip to another country where you can cash out in dollars using local bitcoins.
Is this even feasible and how many will be taking a trip like these to take advantage of the situation make a few thousand dollars, there might be i do not know but these situation arises because of the limitations by the banking sector amid the financial crisis they are facing and it is really difficult to see these situations creeping up globally and worried when we will be hitting by these. 
https://www.newsbtc.com/2019/10/30/bitcoin-trades-at-large-premium-in-argentina-as-dollar-purchase-restrictions-set-in/
I guess the workaround is buying bitcoin and then taking a trip to another country where you can cash out in dollars using local bitcoins.
Quote
Bitcoin is trading at a large premium on cryptocurrency exchanges in Argentina. Demand remains high after the nation’s central bank announced a further tightening of a limit on the number of dollars an individual can purchase from it each month.
The policy essentially forces the people of Argentina to either sink of swim in an economy with a less than perfect track record. Well, it would, were it not for Bitcoin.
According to data taken from local cryptocurrency exchange Ripio, Bitcoin is trading at a large premium in Argentina. Whereas Coinmarketcap has the price of the leading digital asset at around $9,150 at the time of writing, Bitcoin is currently selling at the South American trading venue for ARS$633,862 ($10,578).
The nation has been in the grips of successive economic crises which have seen the value of the peso plummet. In an attempt to stabilise the currency, the central bank first limited the amount of dollars an individual could purchase each month to $10,000 in September. Just days ago, it drastically increased this restriction to just $100 in physical bank notes per month.
The policy essentially forces the people of Argentina to either sink of swim in an economy with a less than perfect track record. Well, it would, were it not for Bitcoin.
According to data taken from local cryptocurrency exchange Ripio, Bitcoin is trading at a large premium in Argentina. Whereas Coinmarketcap has the price of the leading digital asset at around $9,150 at the time of writing, Bitcoin is currently selling at the South American trading venue for ARS$633,862 ($10,578).
The nation has been in the grips of successive economic crises which have seen the value of the peso plummet. In an attempt to stabilise the currency, the central bank first limited the amount of dollars an individual could purchase each month to $10,000 in September. Just days ago, it drastically increased this restriction to just $100 in physical bank notes per month.
I guess the workaround is buying bitcoin and then taking a trip to another country where you can cash out in dollars using local bitcoins.
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