SatoshiTango offers an alternative refuge for Argentines

SatoshiTango issued a communiqué where they explain some alternatives for those people who are "trapped" in the Argentine peso and want to exchange them for a currency that does not constantly lose its value.

SatoshiTango offers an alternative refuge for Argentines

Free fall for the Argentine peso

The worldwide expansion of the COVID-19 pandemic seriously hit the world economy and Argentina was no exception. The economy of Argentina entered into recession since 2018 and it is for this reason that the current crisis finds the country's economy very weak and, as a consequence, the damages caused by the pandemic are significantly worse compared to the damages suffered by the economies of other countries. In response to the economic crisis and the increasing increase in the price of the dollar compared to the Argentine peso, the authorities have applied restrictions on the purchase of foreign currency: restrictions that are becoming increasingly more difficult.

** The giant exchange, Binance, announced the launch of cryptocurrency trading with fiat currencies from Latin American countries.

In this context, SatoshiTango issued a communiqué where they explain some alternatives for those people who are "trapped" in the Argentine peso and want to exchange them for a currency that does not constantly lose its value. In the exchange market of the Argentine peso to the dollar there are approximately 17 different quotes of which the so-called MEP and CCL are the best known. In the statement, SatoshiTango invites all Argentines: "Do not get caught by the stocks of the MEP Dollar and CCL: Switch to the Digital Dollar and [...]" I invested in the digital dollar: The Dai, or Digital Dollar, is a cryptocurrency tied to the value of the US dollar. You can redeem Dai at any time for their dollar equivalent.”

** Martin Redrado said on his official Twitter account that a digital currency would help Argentina cope much better with the great economic crisis it is experiencing.

In addition to buying and selling cryptocurrencies, the company offers a Margin Trading system to increase revenue. SatoshiTango explained the details: “We help you buy crypto by leveraging up to five times your initial investment. You never get into debt with us and you decide when to go out [...] "History shows that cryptocurrencies tend to appreciate and today, as the world's markets collapse, crypto increases."