Is there any use for crypto in Argentina?

[jlynch]

there is big demand for USDT coins not coming from argentine exchanges here....P2P / F2F

 

[Brian_is_here]

I don't know that you can transfer money to or from any banks with Binance now, it seems a bit useless other than for P2P.

There are some exchanges that allow ARS on-ramps. I mean the truth of the matter, no one wants ARS.

 

[FrankPintor]

There are some exchanges that allow ARS on-ramps. I mean the truth of the matter, no one wants ARS.

I get that nobody wants ARS I was referring more to the fact that a few months back, first the way to upload money to Binance via Silvergate Bank disappeared, then the Euro area transfer mechanism was taken away, and finally I believe the credit card processors stopped working with Binance.

 

[jlynch]

there is still sepa on coinbase/coinbase pro and you can withdraw from coinbase to a wallet address on binance

 

[Fiscal]

Is it just me or does USDC seem like a not very useful way to move money? I have been playing around with it sending money to different wallets I open up (small amounts) and there are huge fees.

 

[Dougie]

Send USDC on Solana sir

 

[Fiscal]

Send USDC on Solana sir

Isn’t USDC an eth coin? I have a Solana phantom.app wallet (nice ui!) but I thought it only takes Solana based coins. On Coinbase i can buy USDc but only eth based.

 

[lost]

Other than for fun and just telling people to download binance and send them $10 in Doge or whatever, is there actually any utility here for it? Can I use it to buy things on Mercado Libre?

It works quite well to get money into the country and exchange it at a good rate to pesos.

For example you can buy USDC in the US (or elsewhere outside Argentina) then send it to your address at a local exchange and get pesos for it. This way you can get a good exchange rate (in my past experience better than Contado con Liquidación) and it works fast.

 

[lost]

Is it just me or does USDC seem like a not very useful way to move money? I have been playing around with it sending money to different wallets I open up (small amounts) and there are huge fees.

That is true. You do not want to make multiple small transactions with USDC. I usually make just one transaction per month.

Edit: I use the ethereum/erc20 token based USDC

 

[Dougie]

Isn’t USDC an eth coin? I have a Solana phantom.app wallet (nice ui!) but I thought it only takes Solana based coins. On Coinbase i can buy USDc but only eth based.

It's available on eth and sol. The eth version is an erc20 token and sol is a spl token. You can swap SOL for USDC in your phantom wallet, or you can buy USDC with SPL withdrawals from FTX exchange.

As you already probably know Solana transactions are pennies. Solana is starting to catch on a bit.