Since the government limits how many dollars anyone in Argentina may obtain, an informal, parallel or black market (informal, paralelo o mercado negro) exists where people may also exchange pesos for dollars. People are willing to offer more pesos for each dollar in the informal market than is required to obtain dollars in the formal market. This informal exchange rate is known as the Argentine blue rate or the dólar blue (never referred to as the dólar azul).
The blue rate represents a more reasonable value of the Argentine peso compared to other currencies than the official rate quoted by the government. To exchange dollars for the blue rate, a person must know or find an illegal money changer, known as an "arbolito financiero". The location of an arbolito is known as a cueva.
Essentially, the problem here is that you will not be able to re-export the pesos you have bought with the BTC, well I think from memory you get a limit or something really small.
So you will have to spend it all there, but as others mentioned in this thread, do the selling there.
Here is a blog that will give some info on where the sellers are, and what black market USD conversion rates of the day.
http://www.dolarblue.net/
Topic: Sell bitcoin for Argentinian pesos (Read 1439 times)
I've received many answers about this, thanks for your support.
I have another question though:
Most of you, offered a bank transfer method, which i'm open to do, but it would be utilizing my bother-in-law bank account.
And knowing that the AR government is very strict these days, how is that you get over the justification of the bank transfer, from both sides of the transfer.
Is there a maximum "non taxable gift" amount that you could claim?
Or perhaps treat the money as a loan which is paid back in cash?
Thoughts?
I have another question though:
Most of you, offered a bank transfer method, which i'm open to do, but it would be utilizing my bother-in-law bank account.
And knowing that the AR government is very strict these days, how is that you get over the justification of the bank transfer, from both sides of the transfer.
Is there a maximum "non taxable gift" amount that you could claim?
Or perhaps treat the money as a loan which is paid back in cash?
Thoughts?
I would keep the transaction in straight cash. What you need to understand is that argentina has very strict currency controls due to their inflation situation. They want people to hold on to their pesos instead of trying to exchange them for other assets (like dollars, gold etc.). I don't know the specifics but if you plan on using a bank over there, get ready for some major headaches.
You'll probably get a 20%+ premium on the transaction in your favor.
Wrong, you can get 20% over official USD exchange rate, but not over market exchange rate.
PM me for details.
Are you sure? Also, "market exchange rate" is debatable since the argentine bitcoin market is quite different with all the currency restrictions in place. All I know is if you are willing to accept Argentine pesos in cash, in person, in Argentina then you will get paid a premium. I've talked with people in Argentina and the say they want bitcoins but it is hard to find people who will accept the pesos. Not many people want a fiat currency that has 15%+ inflation rate.
I've received many answers about this, thanks for your support.
I have another question though:
Most of you, offered a bank transfer method, which i'm open to do, but it would be utilizing my bother-in-law bank account.
And knowing that the AR government is very strict these days, how is that you get over the justification of the bank transfer, from both sides of the transfer.
Is there a maximum "non taxable gift" amount that you could claim?
Or perhaps treat the money as a loan which is paid back in cash?
Thoughts?
I have another question though:
Most of you, offered a bank transfer method, which i'm open to do, but it would be utilizing my bother-in-law bank account.
And knowing that the AR government is very strict these days, how is that you get over the justification of the bank transfer, from both sides of the transfer.
Is there a maximum "non taxable gift" amount that you could claim?
Or perhaps treat the money as a loan which is paid back in cash?
Thoughts?
You'll probably get a 20%+ premium on the transaction in your favor.
Wrong, you can get 20% over official USD exchange rate, but not over market exchange rate.
PM me for details.
Exchange the bitcoins when you get to Argentina.
They have high inflation so everyone wants to move their savings into bitcoins so it is more secure but bitcoins is hard to get over there due to strict currency controls on pesos. You'll probably get a 20%+ premium on the transaction in your favor.
Look on youtube: argentina bitcoins
They have high inflation so everyone wants to move their savings into bitcoins so it is more secure but bitcoins is hard to get over there due to strict currency controls on pesos. You'll probably get a 20%+ premium on the transaction in your favor.
Look on youtube: argentina bitcoins
I would like to sell some bitcoin for argentinian pesos.
I have a trip to Argentina coming up and i need some cash to eat.
If you want to save up some money in BTC this is your chance.
Private message me.
I have a trip to Argentina coming up and i need some cash to eat.
If you want to save up some money in BTC this is your chance.
Private message me.
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