Argentina, known for its delicious food and incredible landscapes, is one of our favourite places to visit in South America.
In recent years, Argentina has suffered a period of high inflation and economic turmoil. In an attempt to improve the country’s financial situation, the President of Argentina, Javier Milei, has been implementing an increasing amount of crypto-friendly legislation.
In this article, we’ll outline in greater detail whether Argentina is a crypto-friendly country.
A crypto-friendly country encourages and accommodates the use of cryptocurrency transactions. There should be clear and concise regulations detailing the legality of digital currencies.
On top of this, most crypto-friendly countries impose very low or zero tax rates on crypto assets. This includes both capital gains taxes and income taxes. Argentina, for example, recently introduced a bill eliminating taxes on crypto assets.
Generally, countries that are cryptocurrency friendly are more open to using digital currencies in everyday life, with the infrastructure to match.
To address rising inflation and broader economic challenges in Argentina, President Javier Milei officially legalised the use of cryptocurrencies for payments and legally-binding settlements in December 2023.
As you’d expect, Argentinians have been making use of these new regulations. In January 2024, the country’s first Bitcoin rental agreement was signed in Rosario, Argentina’s third most populous city. This exchange was monumental and highlights how Argentina is pushing to become one of the world’s most crypto-friendly countries.
According to Triple A, almost 19% of adults in Argentina have invested in cryptocurrencies. That’s almost triple the number of crypto-holders in the UK. These figures prove that the legality of cryptocurrencies in Argentina, coupled with the undervalued Argentinian peso, has significantly increased the popularity of digital currencies within the country.
With this in mind, there’s no doubt that Argentina is a crypto-friendly country.
Yes, you can pay using cryptocurrencies in Argentina. In fact, it’s one of the best countries to visit for crypto travellers.
There are currently nine Bitcoin ATMs in Argentina. 8 of these are in the country’s capital, Buenos Aires. There’s also one in Rosario, the third-most populated city in Argentina. These allow you to purchase Bitcoin by using cash or debit card.
Buenos Aires is one of the most crypto-friendly cities in South America. Alongside its various Bitcoin ATMs, there are currently more than 130 businesses that accept cryptocurrencies as a payment method. This means that you can use your cryptocurrencies to pay for meals, groceries, and even Ubers!
You can also use prepaid debit cards where you can pay with crypto at more than 90 million merchants across Argentina. There are multiple options, but we’d recommend using the Binance Card or the Lemon Card. At the time of writing, you can receive 2% cashback in Bitcoin with every transaction when using the Lemon Card.
Another excellent way to pay with crypto in Argentina is through Bitso. This is the leading cryptocurrency platform in Latin America, and allows consumers to pay for purchases with crypto using QR codes through the Bitso app. Most supermarkets, shops, bars, and restaurants accept Bitso QR payments.
So, is Argentina a crypto-friendly country? Overall, we’d say yes.
Argentina offers an excellent framework for everyday spending with cryptocurrencies. There are multiple payment options available, with Binance Card and Lemon Card being our top recommendations. You’ll also find Bitcoin ATMs in Buenos Aires and Rosario, with more expected to be installed.
The current President of Argentina, Javier Milei, is famed for his pro-crypto stance. If his term continues, Argentina is poised to become one of the most crypto-friendly countries in South America. Legislation relating to digital currencies is expected to become far more relaxed in the near future.
Despite this, due to the ever-changing nature of Argentina’s crypto laws and regulations, it can be hard to interpret the current government ordinance. At the time of writing, there is a distinct lack of clear and conclusive regulations. Consequently, we advise you to keep up to date with legislative changes.
Looking to book flights to Argentina using cryptocurrency? Alternative Airlines gives you the flexibility to use over 100 cryptocurrencies through xMoney, Crypto.com, and Coinbase on over 600 airlines from across the globe. This includes Aerolíneas Argentinas, JetSmart, and Flybondi, three of the most popular airlines in Argentina.
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Yes, you can! With Alternative Airlines, you can book flights to Argentina using over 100 cryptocurrencies. This includes Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Ripple (XRP), among many other altcoins.
Yes, you can use crypto to purchase goods and services when travelling in Argentina. We recommend using a Binance Card or Lemon Card, which are widely accepted throughout the country. You can also pay using Bitso, the leading cryptocurrency platform in Latin America.
In February 2024, the Argentine government announced that it will no longer tax the ownership of cryptocurrencies. However, capital gains above a threshold will trigger taxation.
Bitcoin (and other cryptocurrencies) are popular in Argentina as it is an excellent alternative to the volatile and undervalued Argentine peso. In early 2024, Bitcoin in Argentina was at its highest demand in 20 months.
