Key Takeaways
- To buy crypto in Argentina, pick a trusted exchange, select a legal exchange, complete KYC verification, fund your account, and decide how to store your coins securely.
- Selling is just as simple: transfer your coins to an exchange, set your price, and sell and withdraw your money.
- Stay informed on Argentina’s crypto regulations, taxation rules, and secure storage practices to make sound trading decisions.
Crypto is legal in Argentina, treated as a digital asset, and regulated under specific financial laws, ensuring safe and transparent trading. This guide provides a step-by-step process for buying and selling crypto, highlights the best platforms, and explains essential tax and regulatory considerations to help you navigate the crypto market confidently.
How to Buy Cryptocurrency in Argentina?
Cryptocurrency is becoming increasingly popular in Argentina as people look for secure ways to protect their savings and invest. This guide will walk you through each step of the process, customized for the Argentine audience.
Choose a Cryptocurrency Exchange in Argentina
The first step is to select a reliable exchange that operates in Argentina. Local exchanges are often the best option because they support Argentine Pesos (ARS) and local payment methods. Popular platforms include: Ripio, Buenbit, SatoshiTango, etc.
International platforms like Binance and Coinbase are also available, but they may require extra steps for peso deposits. For beginners, Ripio is highly recommended due to its seamless integration with local payment methods and a straightforward interface.
Register and Verify Your Account
After choosing an exchange, you need to create an account and complete identity verification (KYC). This is required to comply with Argentine regulations.
Sign Up: Use your email to create an account on the platform’s website or app.
Verify Your Identity: Upload a valid ID, such as your DNI (Documento Nacional de Identidad). Some exchanges may also ask for proof of address, like a utility bill.
Additional Verification: Platforms like Binance might require a selfie or live video for extra security
Make sure your internet connection is stable, as live verifications can fail if interrupted. Verification is usually completed within a few hours.
Deposit Argentine Pesos (ARS) into Your Account
Once your account is verified, you can fund it with pesos. Most Argentine exchanges support:
Bank Transfers (CBU or CVU): Direct deposits from your bank account are widely accepted and processed quickly.
Mercado Pago: Many platforms, like Ripio, allow you to deposit funds using Mercado Pago, which is fast and convenient.
Cash Deposits: Some exchanges let you deposit cash at payment points like Pago Fácil or RapiPago.
Use Mercado Pago or bank transfers for lower fees and faster processing. Always double-check the payment details provided by the exchange before sending money.
Choose the Cryptocurrency to Buy
Once your pesos are available in the exchange, decide which cryptocurrency you want to buy. In Argentina, popular options include:
Bitcoin (BTC): Commonly used as a store of value to protect against inflation.
Ethereum (ETH): Preferred for decentralized applications and smart contracts.
USDT or USDC: Stablecoins are tied to the US dollar, which is perfect for maintaining dollar value.
Many Argentines prefer stablecoins like USDT or USDC as a hedge against peso devaluation. These coins are widely available on local exchanges.
Place a Buy Order
With funds in your account, follow these steps to purchase cryptocurrency:
Go to the “Buy” section of the exchange.
Enter the amount in pesos (ARS) or the quantity of the cryptocurrency you want to buy.
Choose your order type:
Market Order: Buy instantly at the current market price.
Limit Order: Set a specific price, and the order will execute when the market reaches it.
Confirm the purchase. The cryptocurrency will appear in your wallet after the transaction is complete.
Beginners often find market orders more straightforward, while advanced users may benefit from using limit orders for better pricing.
Secure Your Cryptocurrency
After buying, it’s essential to secure your digital assets:
Exchange Wallets: Convenient for short-term holdings but vulnerable to hacking.
External Wallets:
- Mobile Wallets: Use apps like Trust Wallet for easy access.
- Hardware Wallets: Devices like Ledger Nano or Trezor offer maximum security for long-term storage.
Always back up your wallet’s recovery phrase and store it in a safe place. Argentines often prefer hardware wallets for large holdings to avoid local internet security risks.
How to Sell Cryptocurrency in Argentina
Selling cryptocurrency in Argentina is just as simple as buying it, especially when using local platforms like Ripio, Buenbit, or SatoshiTango. Whether you want to cash out into Argentine Pesos (ARS) or convert your crypto into another asset, here’s a guide for Argentine users.
Transfer Your Cryptocurrency to the Exchange Wallet
Before you can sell, ensure your cryptocurrency is available in your exchange wallet.
- If your crypto is stored in an external wallet (like Trust Wallet or Ledger Nano), transfer it to the exchange.
- Go to the “Deposit” section on the platform, select the cryptocurrency you want to sell (e.g., BTC, ETH, or USDT), and copy the deposit address.
- Use your external wallet to send the crypto to the exchange.
On platforms like Ripio, deposits are usually confirmed quickly, but for faster transactions, use cryptocurrencies with lower network congestion, such as stablecoins like USDT.
Choose How Much Crypto to Sell
Once your cryptocurrency appears in your exchange wallet, go to the “Sell” section.
- Enter the amount of cryptocurrency you want to sell, either in crypto terms (e.g., 0.05 BTC) or in pesos (ARS) you want to receive.
- Review the current market price displayed by the platform to ensure it meets your expectations.
If you’re using Buenbit, you can sell stablecoins like USDT directly into pesos, which is a popular option in Argentina due to inflation concerns.
Select a Sell Order Type
Local exchanges offer two main types of sell orders:
- Market Order: Instantly sell your cryptocurrency at the current market price. This is the fastest and easiest option for most users.
- Limit Order: Set a specific price for your crypto. The order will execute only if the market reaches your desired price.
In volatile markets, a limit order can help you sell at a better price, but if you need cash quickly, a market order is more practical.
Convert Crypto to Pesos (ARS)
After your sale is executed, the proceeds will appear in your exchange wallet in pesos.
- Some platforms, like Ripio and SatoshiTango, allow you to keep your funds in pesos within the app or withdraw them to a bank account or Mercado Pago.
- If you’re selling to another cryptocurrency instead of pesos, the new crypto will appear in your wallet immediately after the transaction.
Withdraw Pesos to Your Bank Account or Cash Out
To access your funds, withdraw the pesos to your linked bank account or use cash withdrawal options:
CBU or CVU Bank Transfers: Link your Argentine bank account, such as Banco Galicia, BBVA, or Banco Nación. Withdrawals via SPEI are quick and reliable, typically processed within the same day.
Mercado Pago: Some platforms allow direct transfers to your Mercado Pago account for added convenience.
Cash Withdrawals: Certain exchanges support cash withdrawal options through payment services like RapiPago or Pago Fácil.
Bank transfers are the most cost-effective method for larger withdrawals. For small amounts or faster access, Mercado Pago is a great choice.
Keep Track of Taxes and Regulations
When selling cryptocurrency in Argentina, you may be subject to income tax on your profits.
Calculate your gains: Subtract the value in ARS at the time of purchase from the value at the time of sale.
Maintain detailed records of all transactions, including the date, amount, and ARS equivalent for tax reporting.
Consult a tax professional familiar with Argentine crypto regulations to ensure compliance and avoid penalties.
Popular Cryptocurrency Exchanges in Argentina
Cryptocurrency is widely used in Argentina for saving, investing, and protecting against inflation. Here are the most popular exchanges ranked by their usage and relevance in the country, along with the key features that make them stand out.
- Ripio
Founded: 2013
Users in Argentina: Over 1 million
Why It’s Popular: Ripio is the most popular cryptocurrency exchange in Argentina. It’s known for its user-friendly platform and strong focus on the local market. Ripio supports direct deposits and withdrawals in Argentine Pesos (ARS) through bank transfers (CBU/CVU) and Mercado Pago, making it convenient for users. The exchange offers Bitcoin, Ethereum, and popular stablecoins like USDT, which are highly sought after in Argentina for their dollar value.
Key Features:
- Supports over 20 cryptocurrencies.
- Offers savings accounts with interest on stablecoins.
- Provides a mobile app with a simple interface, ideal for beginners.
- Complies with local regulations, ensuring safe and legal transactions.
Cons:
- Higher fees compared to international exchanges.
- Limited number of cryptocurrencies compared to global platforms.
Why It Stands Out in Argentina: Ripio’s strong local integration and support for ARS transactions make it a favorite among Argentines.
2. Buenbit
Founded: 2018
Users in Argentina: Over 600,000
Why It’s Popular: Buenbit specializes in stablecoins like USDT, USDC, and DAI, which are popular among Argentines for protecting against peso devaluation. The platform is easy to use and allows users to trade directly in ARS. Buenbit also offers interest-earning options on stablecoins and provides quick withdrawals to local bank accounts and Mercado Pago.
Key Features:
- Focuses on stablecoins, making it a go-to choice for saving in dollars.
- Supports seamless peso deposits and withdrawals.
- Offers competitive interest rates on crypto savings.
Cons:
- Limited to a small number of cryptocurrencies (around 10).
- Not suitable for advanced traders looking for more options.
Why It Stands Out in Argentina: Buenbit’s focus on stablecoins aligns with the needs of many Argentines looking to save in dollar-linked assets.
3. Binance
Founded: 2017 (Global)
Users in Argentina: Growing rapidly, estimated over 400,000
Why It’s Popular: Binance is one of the largest global exchanges and has a strong presence in Argentina. It supports deposits in ARS via bank transfers and allows Argentines to access over 350 cryptocurrencies. Binance is favored by users who want lower fees and a wide range of trading tools, including staking, futures, and margin trading.
Key Features:
- Offers one of the largest selections of cryptocurrencies globally.
- Low trading fees, especially for larger transactions.
- Advanced trading options for experienced users.
Cons:
- The platform’s interface may be overwhelming for beginners.
- Customer support is not always available in Spanish.
Why It Stands Out in Argentina: Binance combines global features with local payment options, attracting both new and advanced traders.
4. SatoshiTango
Founded: 2014
Users in Argentina: Estimated 200,000
Why It’s Popular: SatoshiTango is a locally operated platform that offers simple buy-and-sell options for Bitcoin, Ethereum, and a few other cryptocurrencies. It allows deposits and withdrawals in ARS via bank transfers and Mercado Pago, making it convenient for Argentine users. The platform is straightforward and caters to users who prefer simplicity over advanced features.
Key Features:
- Supports popular cryptocurrencies like BTC, ETH, and USDT.
- Accepts ARS through multiple payment methods.
- Easy-to-navigate platform for beginners.
Cons:
- Limited cryptocurrency options.
- Higher fees compared to some competitors like Binance.
Why It Stands Out in Argentina: SatoshiTango is a reliable and simple option for those who want an easy way to buy and sell crypto.
5. Lemon Cash
Founded: 2019
Users in Argentina: Over 3 million
Why It’s Popular: Lemon Cash is a newer platform that has gained attention for its innovative approach. It offers a crypto card linked to your Lemon Cash wallet, allowing users to spend their cryptocurrency for everyday purchases. The platform focuses on ease of use and supports ARS deposits via bank transfers and Mercado Pago.
Key Features:
- Provides a crypto card for everyday spending.
- Supports a variety of cryptocurrencies, including BTC and USDT.
- Offers integration with local payment systems.
Cons:
- Smaller user base compared to larger exchanges.
- Limited features for advanced traders.
Why It Stands Out in Argentina: Lemon Cash’s crypto card makes it unique for users who want to combine crypto with daily expenses.
Taxation and Regulation in Argentina
Taxation in Argentina for Cryptocurrency
Cryptocurrency is taxed as an asset in Argentina. Key points include:
Capital Gains Tax: Profits from selling crypto are taxed at 15% for most cases.
Income Tax: Earnings from mining, staking, or services are taxed as regular income.
Tax Reporting: All crypto-related income must be declared in your annual tax return to AFIP.
Regulations for Cryptocurrency in Argentina
Cryptocurrency is legal in Argentina but treated as a digital asset.
KYC and AML Compliance: Exchanges like Ripio and Buenbit require users to verify their identity with valid IDs.
Peso Transactions: Local exchanges integrate with banks for ARS deposits and withdrawals, ensuring compliance.
Legal Use: Crypto can be traded and invested but is not recognized as legal tender.
These rules help ensure safe and lawful crypto transactions in Argentina.
Conclusion
Buying and selling cryptocurrency in Argentina is straightforward when using trusted platforms tailored to the local market. With reliable payment methods, clear regulations, and growing options for saving in stablecoins, crypto offers a practical way to protect and grow your finances. By following this guide, staying informed about taxes, and choosing the right exchange, you can navigate Argentina’s expanding cryptocurrency market with confidence.
