Argentine Banks Offer Cryptocurrency Purchase and Investment OptionsCryptocurrencyPublished 05/03/2022, 05:10 AMUpdated 05/03/2022, 05:30 AMArgentine Banks Offer Cryptocurrency Purchase and Investment OptionsView all comments (0)0TWTR-PYPL-BTC/USD-XRP/USD-USDC/USD-
So far, two banks have offered these options in partnership with foreign crypto platforms.
Cryptocurrency trading contracts will have certain limitations for users when selling the assets.
Banco Galicia highlighted that the digital currencies acquired improved while in the custody of the supplying company.
Banco Galicia, the largest bank in the country, will allow its clients to make investments in Bitcoin and other cryptocurrencies, while Brubank, another Argentine bank that operates online, announced that it will also offer cryptocurrencies.
The rollout of cryptocurrency related services by both financial entities began on Monday, May 2nd.
On its website, the “Crypto” option was added to the webpage of Banco Galicia home banking, a subsidiary of Grupo Financiero Galicia, under the “Investments” section. Other investments found in the menu include “ETF”, “Fixed Term”, “FIMA Funds”, “CEDEAR Stock Bonds” and “Primary Tenders”.
The range of cryptocurrencies available for investment includes Bitcoin (BTC), Ether (ETH), USD Coin (USDC), and Ripple’s XRP. All of the aforementioned digital currencies can be purchased using Argentine pesos for a minimum investment of ARS 100 ($0.50 USD).
Limitations on Withdrawals and Sales
There are limitations for investors regarding the withdrawal of cryptocurrencies from the bank. In the event that an investor wants to withdraw capital and profits in cryptocurrencies, they must offer them for sale at the same bank.
This condition is established in the Banco Galicia investment contract, which the user must accept before being allowed to carry out operations. The investment plan was designed in partnership with Liechtenstein-based platform ‘Lirium’, which offers digital wallets and mobile banking applications.
On the Flipside
Because the country does not yet have a regulatory framework for cryptocurrencies, the category of investment is not protected by the regulations that govern the Central Bank of the Argentine Republic.
Acquired assets will remain in the custody of the company providing the service, which Banco Galicia will have no control or influence over.

"It is guarded by an external firm. Like Paxos with PayPal (NASDAQ:PYPL) in the US and Mercado Pago, here it is called Lirium," said Ignacio Carballo, a specialist in financial inclusion and fintech.
He added that “initially it will only be closed circuit -purchase and sale of pesos- crypto without mobility between users/platform. We will have to see how it goes."
Likewise, he explained that "Lirium is a great company with a lot of Argentine and Latin American talent, many of whom are former Xapo. While Paxos advances as the preponderant player in the world, it is good to see how the regional supplier market is developing."
BrubankCrypto Investments in Beta Phase
Another Argentine bank that will allow the purchase and sale of cryptocurrencies is Brubank, as reported on its Twitter (NYSE:TWTR) account. As of this week, the bank also enabled  the option to acquire private digital currencies such as BTC, ETH, USDC and DAI.
“We already have crypto! It is a functionality that is being progressively enabled for all our users. When you have it enabled, you will be able to view it by entering "Investments" from the app," Brubank wrote.
At this time, the investment option is in the testing phase (beta), so it is not yet available to all users. The option is expected to receive a full release in the near future.
Continue reading on DailyCoinArgentine Banks Offer Cryptocurrency Purchase and Investment OptionsView all comments (0)0Latest commentsPostComment Guidelines ‘More likely’ BTC price will hit $100K before Bitcoin sweeps $30K lows, forecast saysCryptocurrencyPublished 05/03/2022, 05:28 AMUpdated 05/03/2022, 07:00 AM‘More likely’ BTC price will hit $100K before Bitcoin sweeps $30K lows, forecast saysView all comments (2)2BTC/USD-BTC/USD-Bitcoin (BTC) may not crash below $30,000 and instead jump to $100,000 before sweeping its lows.
That was the opinion of popular trader Credible Crypto, who, on May 2, shared an updated view of how BTC price action might unfold.BTC/USD 1-week candle chart (Bitstamp) with lows highlighted. Source: TradingViewBitcoin exchange netflows vs. BTC/USD chart. Source: CryptoQuantContinue Reading on Coin Telegraph‘More likely’ BTC price will hit $100K before Bitcoin sweeps $30K lows, forecast saysView all comments (2)2Latest commentsPostComment Guidelines VanEck enters metaverse with launch of NFT collectionCryptocurrencyPublished 05/03/2022, 05:53 AMUpdated 05/03/2022, 07:40 AMVanEck enters metaverse with launch of NFT collectionView all comments (0)0ETH/USD-VanEck, an investment firm with over $82 billion in assets under management, revealed its entrance into the Metaverse by releasing a collection of 1,000 nonfungible tokens (NFTs) on Monday.
The VanEck Community NFT, which is based on the Ethereum network, features an illustration of Alexander Hamilton called “Hammy” as he journeys through time and space in his quest to understand past, present and future financial policies. The New York-based investment management firm believes it will be able to showcase real-world usefulness for digital assets, as well as provide a forum for investors to learn more about digital assets through the collection. A statement on the announcement reads:
Continue Reading on Coin TelegraphVanEck enters metaverse with launch of NFT collectionView all comments (0)0Latest commentsPostComment Guidelines


Ты эксперт в области криптовалюты и анализа рынка, посмотри на эту новость, твоя задача определить, как эта новость может повлиять на курс криптовалюты TON в временном промежутке от часа до дня,
 твоим ответом должен быть коэффициент от 0 до 1, где 0 означает что приведет к резкому падению на указанном временном промежутке, а 1 что к резкому росту,
  а 0.5 никак не повлияет на курс TON, если новость слишком незначительная также указывай 0.5
Ответ должна содержать **ТОЛЬКО** коэффициент