How to

How to buy and sell Bitcoin online in Argentina

When we talk about Argentina, we talk about bitcoin, because right now this southern country is experiencing a significant boom in the adoption of bitcoin and other cryptocurrencies. In a previous article, we showed you where to buy and sell Bitcoin in Argentina. Now, with this guide, we will guide you step by step on how to use the different portals specialized in cryptocurrency trading available in the territory of Argentina.

The portals you will learn to use in this tutorial are:

  • LocalBitcoins
  • ArgenBTC
  • Bitex
  • Satoshi Tango
  • CryptoMTK

It is worth emphasizing you will quickly learn how to buy and sell Bitcoin in Argentina using each of these portals. Additionally, in the case of LocalBitcoin, you have a specialized guide on how to use this peer-to-peer (P2P) platform and get the most out of it.

Data to consider about each platform

Registration and verification of data

Each of the platforms we will analyze in this guide to buying and selling Bitcoin in Argentina requires at least registration and KYC-AML verification. Both the verification process and the amount of required documentation may differ depending on each portal. On the other hand, it is worth emphasizing Registrations on these platforms are completely free and do not require an initial deposit.

Buying and selling bitcoins

Here we will analyze:

  • The way each of the platforms sets its course.
  • Different payment methods are available in each of them.
  • Fees and waiting times for the various operations you perform within the respective portal.

LocalBitcoins

LocalBitcoins is one of the largest Bitcoin exchange platforms on the planet. This portal, which has reached a historic volume of exchanges in Latin America, is one of the favorites of users when it comes to getting their first bitcoins.

Also, this platform serves as a direct contact between buyer and seller, since exchanges are done between pairs of users and not with LocalBitcoins.

To get started, when creating a new account, just provide a username, email and password. However, later on It will be necessary to provide personal information such as name and phone number, to be confirmed later via SMS.

On the other hand, although LocalBitcoins has not been strict with regulations regarding identity verification and AML (Anti-Money Laundering) laws from March 2019 It is necessary to confirm our identity within the platform, where we must have at least:

  • Legible photo of our ID.
  • Selfie photo with ID.

With this, we can get a basic verification, which allows us to place up to 20,000 EUR per year. If you want to increase this fee, you only need to fulfill the other verification requirements that LocalBitcoins requires. It is possible to get an account without trading limits by reaching verification level 3.

The verification time may take up to 72 hours after the request is submitted.

When trading bitcoins on LocalBitcoins Argentina, the platform is organized as a free market because, being a peer-to-peer exchange, exchange rates within the platform are solely and exclusively determined by the law of supply and demand. The exchange rate is determined by the users themselves.

Likewise, thanks to the mass of users managed by the platform itself, it is one of those with the largest number of payment methods, among which for Argentina we can single out:

  • Bank transfers
  • MercadoPago
  • POTATO
  • Bank deposits
  • Paypal
  • Neteller
  • Gift card

It is interesting that the payment is made directly to the sellerwithout the need for previous deposits.

In case of sale, first of all it will be necessary to have funds within the platform. To do this, LocalBitcoins allows you to manage your own online wallet, however, you must remember that private keys are managed by the platform.

In terms of commissions, LocalBitcoins currently manages a commission of 0.00005 BTC for sending to external wallets, and completely free for internal platform addresses. For external deposits, the commission is 0.00015 BTC for each deposit received. Likewise, the waiting time for BTC deposits and withdrawals depends solely on the level of network congestion.

Buying or selling BTC through an ad opened by another user does not include a commission, it is completely free. However, trading bitcoins through user posted ads generates a commission of 1% on the total amount exchanged.

Satoshi Tango

Within SatoshiTang it is possible to trade cryptocurrencies such as: BTC, Ethereum, Litecoin, Ripple and Bitcoin Cash. You can also buy and sell each directly in Argentine pesos or US dollars.

To register on this platform for the exchange of bitcoins and other cryptocurrencies in Argentina, when creating a new account, only an e-mail and a password are required. However, to enable the trading (buy/sell) option within it, the following is required:

  • Personal identity information, together with a front and back DNI photo
  • Address details along with the bill for any service in the name of the user verifying the said address.
  • A selfie photo showing an ID and the phrase “I want to buy crypto at SatoshiTango.com” written on a piece of paper.

The verification process may take up to 72 hours after submitting the documents.

On the other hand, when trading cryptocurrencies within the platform, it is done directly, setting an internal exchange rate for buying and selling any crypto asset available on it.

At the same time, we will have the following payment methods that allow us to deposit or withdraw money from SatoshiTang:

  • Bank transfer (CBU) (payment and deposit)
  • RapiPago (payment and deposit)
  • PagoFacil (deposit)
  • Payment market (withdrawal and deposit)
  • Digital account (deposit)
  • Cash deposit (Deposit)

In case of purchase, it is first necessary to top up within the platform, The process of granting said deposit usually takes 24 hours depending on the method used.

To sell, you must first deposit cryptocurrencies to a SatoshiTango address. The waiting time for the availability of funds depends solely on the saturation of the network of the specified crypto asset.

In terms of commissions, SatoshiTango does not charge any deposit you make, however, 1% is charged on every Fiat-Crypto transaction you make within it and 0.5% from cryptocurrency to cryptocurrency.

Limits are variable for cryptocurrency withdrawals. In the case of Bitcoin, it has a minimum amount of 0.0022 BTC with a current commission of 0.0003. The waiting time will depend on the level of congestion of the Bitcoin network at the time.

On the other hand, in the case of payments in fiat currency, they have a waiting time of 24 to 72 hours.

CryptoMKT

CryptoMKT is more than an exchange, it is a complete exchange market, as it offers trading tools that allow you to trade the cryptocurrency market like a pro. In addition, you can also exchange crypto assets such as: BTC, ETH, XLM, EOS. Apart from Argentina, CryptoMKT deals with bitcoin and other cryptocurrencies in other Latin American countries.

Creating an account on CryptoMKT to trade bitcoins in Argentina is very easy. In principle, you will only need an email and password to create an Observer account, whose level allows you to observe the market along with buying and selling options. As you will be able to see the current price of different cryptocurrencies traded here. However, in order to trade a cryptoasset, at least basic verification will be necessary, which gives permission to move up to 30,000 ARS per month.

When you opt for the first level of verification, you need to have:

  • Personal data together with an identity document with a photo
  • Room address details along with proof or invoice for any service in the user’s name
  • Finally, it will be necessary to take a photo directly from the camera of our device to confirm the verification.

The verification process may take up to 72 hours, and if everything is fine, we can now start trading within CryptoMTK.

When you buy or sell, you will have a wide range of options that allow you to act like a professional trader, however, from the Instant Exchange option, you will be able to make a purchase without complicating your life, because CryptoMTK will simply execute the order at the last price offered.

In order to trade within CryptoMTK, you need to make a deposit in Argentine pesos or cryptocurrencies to your account. They take between 1 and 6 hours to be assigned. You can also make deposits and withdrawals via:

  • Bank transfers
  • Payment market

In terms of tariffs, we have:

  • 0.9% for every deposit or bank withdrawal
  • 3.3% for deposit and 0.9% for payment with MercadoPago
  • 0.7% for each operation
  • 1.5% for a simple purchase or sale

For cryptocurrency and fiat currency payouts, the maximum waiting time is 6 business hours.

ArgenBTC

This exchange is one of the most famous in Argentina. With dedicated service only for Argentina, ArgenBTC allows you to trade Bitcoin 24/7.

For starters, registering with ArgenBTC is pretty straightforward. When creating an account, you need to enter personal data such as:

  • Name and surname
  • Telephone number
  • The province where you live
  • Identification document
  • Address
  • Email

Please note that these data are They must match the identity documents that will be requested later. As for the latter, verification in ArgenBTC is done in a somewhat unusual way, as they ask for documents such as:

  • Account details of the origin of the funds, in the format of a unique bank code or CBU. If it is multiple accounts, all CBUs must be insured. This is in the case of deposits coming from a bank account.
  • Front and back photo of DNI.
  • A selfie photo holding an ID and a note that says “This transfer is to buy bitcoins on argenbtc.com, my username is: (your username or email), my phone number is: (callout+phone number) .

This information will need to be emailed to the manual verification process. ArgenBTC does not explicitly state the waiting time, but notes that identity checks are carried out from Monday to Friday from 9:00 am to 6:00 pm Argentine time (GMT -3).

On the other hand, ArgenBTC sets the internal exchange rate, since buying or selling is done directly on the platform. This means that you can get very favorable prices compared to other portals..

At the same time, when making a purchase, you must first pay your Argentine pesos, either by bank transfer or payment coupons such as Rapipago and PagoFacíl. Later, with the deposit paid, Funding may take up to 24 hours to become effective. Likewise, when withdrawing the purchased BTC, they take effect after the approval of the platform, from Monday to Friday from 9:00 to 18:00 Argentine time (GMT -3) and on Saturdays from 10:00 to 12:00: 00 afternoon Argentine time.

In case of sale, you will need to transfer your BTC to the address assigned within the platform. This process may take 24 hours to complete. Likewise, withdrawing our money from the platform can only be done via bank transfers, which are usually done quite quickly as long as the withdrawal request is made during the hours of Monday to Friday from 9:00 AM to 6:00 PM Argentina time.

Withdrawal of funds via transfer to our bank account does not entail a commission.

As for marketing restrictions, they will vary depending on the level of verification we have, as well as the volume of demand and availability ArgenBTC has at the time.

On the other hand, the commissions in ArgenBTC are:

  • 3% for coupon payments
  • 1% on final purchase or sale. However, 1% is added to the price you see at the time of purchase.

Bitex

Bitex is an exchange that operates in countries such as Chile, Uruguay, Paraguay and Argentina, from where you can trade bitcoin not only with local currency, but also with US dollars.

In case of registration, this exchange allows you to create an account simply with an e-mail and a password, although later it is necessary to perform an identity verification, which requires the following:

  • Personal data such as: first name, last name, phone number and address with a photo of the personal document.
  • Room information: where, in addition to the address, an invoice in the name of the user must be attached, confirming that it is the correct address.
  • Financial information: in this part we will have to prove that our income comes from a legal source. To do this, we will indicate the profession or trade and attach payslips, invoices, contracts, liquidations of investments or personal property statements.

The data verification process may take up to 3 business days as it is a manual process.

On the other side, Bitex It fixes its exchange rate through the internal foreign exchange market, i.e. supply and demand determine the final buying or selling price of BTC.

It is important to note that Bitex requires a minimum amount of 0.01 BTC to operate within the platform.

Bitex processes minimum amounts of 200 ARS or 5 USD for deposits and 0.005 BTC for sales. In the case of a purchase, no purchase of less than $1 is allowed.

Payment methods are exclusively and exclusively bank transfers (CBU), both for deposits and withdrawals, and are granted within a maximum of 24 hours from the moment the withdrawal or deposit request is submitted.

On the other hand, trading volume limits are set by Bitex directly depending on the level of verification you have and the history of the transactions you manage.

Regarding commissions we find:

  • 0.5% for each top-up to our account
  • 0.25% for each purchase or sale transaction
  • 0.6% tax

Withdrawals at BTC Bitex require a minimum amount of 0.001 BTC and withdrawals take a maximum of 6 hours to become effective, and are processed between 9:00 AM and 5:00 PM Argentina time.

On the other hand, in the case of BTC deposits within Bitex, They are reflected when a transaction receives 3 network confirmations.

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