Argentinians are now investing in peer-to-peer (P2P) markets to grow their savings.
P2P (peer-to-peer) markets are now being used by Argentinians to keep or grow their crypto and foreign currency investments. Argentinians are increasingly adopting P2P exchanges and markets to apply arbitrage and earn money as P2P cashiers, according to local media sources. Binance's P2P business has expanded 40 percent in the last month, according to Maximiliano Hinz, the company's Latam operations director.
Argentinians are learning how liquidity providers in peer-to-peer (P2P) markets make a lot of money by arbitraging between multiple markets. According to local media sources, depending on the availability of certain payment methods and the ability of the P2P cashier, this course of action may potentially quintuple the monthly savings of some investors.
These human exchangers can buy cryptocurrency in low-cost markets and subsequently sell it in higher-demand (and higher-priced) international markets. This isn't a guarantee, though, because P2P cashiers must manage a variety of payment methods and accounts in order to provide their consumers with exciting options and achieve large spreads across multiple exchanges.
There are various exchanges in Argentina that operate P2P markets, which means they act as platforms to connect users who want to exchange cryptocurrencies for fiat currencies. Binance, Paxful, Airtm, Okex, and Localbitcoins are among them.
The growth claimed by local sources has been corroborated by a number of companies. Binance's Latam operations director, Maximiliano Hinz, stated:
The growth has been really natural. We can tell that our active users increased by 40% last month due to the nature of the business.
In the same line, Paxful Latam marketing manager Renata Rodrguez noted that new user registrations in Argentina climbed by more than 110 percent in the previous year.
Other companies have not provided specific figures, but have stated that they have noticed a significant increase in the activity of P2P markets. This is according to Alex Vázquez, Okex's P2P operations manager, who stated:
We noticed a significant rebound, especially from last month.
Also, depending on the markets involved, these traders may need to use different payment methods to take advantage of the new spreads offered. According to local sources, unique payment options such as Payoneer and Paypal may generate more earnings than others. This is due to the fact that freelancers in the country use these sites to obtain fiat and cryptocurrency payments.
Amazon gift cards are frequently purchased at a 25% discount and afterwards resold at face value in other markets. Volatility in crypto markets, on the other hand, is a major worry for P2P cashiers who prefer to trade stablecoins like USDT and others.