Due to the exchange restrictions in Argentina, the number of users in brokers and crypto-currency exchanges increased

Brokers and Exchanges have seen an increase in the number of users of their platforms in Argentina

Exchange rate restrictions in Argentina have been further tightened. To such an extent that a large part of the population has been directly forbidden from buying US dollars officially. In this scenario, Cointelegraph en Español consulted brokers and exchanges to find out whether the number of users trading in cryptomonies had increased in September.

Maximiliano Hinz, Latam Operations Launcher of Binance, said: “During the month of September, we observed a 37% growth in the market Bitcoin Up share of Binance”. He added: “At P2P, we recorded an 180% increase in volume over what was traded in August, while the number of users doubled. The average ticket was up 10%”.

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Magdiela Rivas, Paxful’s manager for Latin America, explained: “In September we had a 157% growth in new users. We especially saw an increase in the last week of the month, and we can think that it is related to the announcement of the new taxes on the purchase of dollars, imposed by the Argentine government”.

In addition, Magdiela Rivas highlighted: “In the last months, Argentina has been the market where we have grown the most in terms of users compared to other countries in the region”.

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Matias Bari, CEO and co-founder of SatoshiTango, said: “In the quarantine and since the pandemic, this type of finance has become very important not only in daily transactions and as an investment alternative. During the month of September, more than 80 thousand operations were registered. We notice that more and more Argentines are turning to the world of cryptomonies”.

On the other hand, Gabriel Vago, CEO of ArgenBTC, pointed out: “In September we had around 5,000 new users. This is also the number we have been handling since the beginning of the quarantine”.

Cointelegraph en Español also spoke with Santos Barrio, Operations Manager of Qubit Brokers, who commented: “In terms of verified users (ready to operate), the number increased by 15% in September”. He then clarified: “The volume in pesos grew by 17%”.

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