Saturday, November 27

Argentina broker now allows you to transfer bitcoin instantly

Key facts:
  • Belo integrated its own Bitcoin and Lightning Network node to its broker application in Argentina.

  • This change in the platform allows users to buy and sell bitcoin with Argentine pesos.

Belo now allows you to buy and sell cryptocurrencies with Argentine pesos instantly from your broker application in Argentina. What enabled this change in the platform is that the company integrated the Lightning Network, the secondary layer of Bitcoin.

The Lightning Network is precisely a network that allows instant micropayments between peers since its creation in 2016. It works in a decentralized way, thus eliminating the risk of delegating custody of funds to trusted third parties, even in high volume transactions.

Manuel Beaudroit, the co-founder and director of Belo, explained that its integration to the network Lightning allows users to get higher returns when trading bitcoin and other cryptocurrencies. This is because it makes it possible to make transfers at any time that they consider appropriate to get the most out of their investments.

The user experience is key to be able to massify the access and use of cryptocurrencies, and although we have a long way to go, we are very motivated to be able to ship everything that we lack and that they are asking of us.

Manuel Beaudroit, co-founder and director of Belo.

Belo wants everyone in Argentina to be able to use cryptocurrencies

The Lightning Network integration in the Belo App allows instant transfers of cryptocurrencies such as bitcoin. Source: nice-app

The integration of Lightning in Belo responds to the intention of the company to want to grow in Argentina. Manuel Beaudroit points out that his goal is that “cryptocurrencies can be used by everyone, every day,” allowing access to financial services with Argentine pesos where the user has control “in a stupidly simple way.”

Currently the use of cryptocurrencies in Argentina is booming, being the country with the highest growth in the ecosystem in all of Latin America. This was confirmed by Maximiliano Hinz, the director of Binance, one of the largest exchanges in the market internationally.

This panorama explains why the government this month established a mandatory tax in Argentina on the use of bitcoin and the rest of digital currencies, as reported by CriptoNoticias.

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