One of the most popular crypto platforms in Argentina is the international giant Binance. Although it has been operating for some time in the country, it had a problem: they could not send Argentine pesos to the platform directly by bank transfer or from a virtual wallet. Well, that’s something they’ve fixed.
They announce that it is now possible to fund your own account Binance with Argentine pesos via bank transfer or virtual wallet thanks to the collaboration with a local partner:
The service, offered through a local partner, will allow users to convert Argentine pesos into cryptocurrencies, through their Binance wallets, depositing funds via bank or virtual transfer.
Until now, in order to fund the Binance account, you had to send crypto assets that you bought in another way, such as at a local exchange like Let’sBit or Buenbit, or make risky P2P operations.
Let’s not misunderstand, P2P operations are beautiful, Peer to Peer, Nothing better. But many of them required send or receive money through bank transfers to strangerssomething that can leave us exposed to various problems if we do not know our counterpart, that is, to whom we are sending or from whom we are receiving money.
This twitter thread recently discussed the topic:
Something that nobody talks about P2P:
– If they receive or transfer to a third party they do not know, they can be stuck in a legal case: bank triangulations, scams, money laundering, etc.
— Santos Barrio ???? HIRING (@santos_barrio) February 24, 2023
In this way, Binance completes and facilitates the operation for people residing in Argentina. It is more convenient and safer to send pesos that we have in bank accounts or virtual wallets, something that is usually called an entry or exit “ramp”.
Remember that Binance also offers a prepaid card that can be loaded with money or crypto assets and can be used to pay both online and physically in Argentina and abroad.
We wanted to try this new functionality, but to “Activate Fiat Service” Binance required us to enter various personal data, including the processing number of our ID. So we got a little lazy and decided to better find out who is that local partner they mention and who will receive our information, review the terms and conditions, etc.
We saw some people comment on networks that buying crypto with pesos in the Binance account was more expensive than doing it via P2P within the platform, but we could not verify it.
And you, Do you already have an account? Binance? Are you ready to send Argentine Pesos?
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