Argentina: save with stablecoins! | Tether and DAI most requested

Argentinian Minister of Economy Martin Guzman he tendered his resignation yesterday, throwing the country into panic. For theArgentinaalready in the grip of an uncontrollable public doubt, it is a blow: the minister had just negotiated yet another debt with International Monetary Fund for an amount of 45 billion dollars.

Citizens, in response, began to renounce stablecoin after the instantaneous collapse of the Argentine peso. Collapse as a direct consequence of the news, but which follows an inflationary trail that has been inexorably perpetuated for more than a year. Once again a Latin country takes refuge in crypto-monnaiesso as not to succumb to an economic crisis with no apparent and immediate solution.

A use case that may be of little interest to European citizens today, but which is already a reality in countries experiencing major problems. Something with which, on the whole, we can also invest eToro - go here to get a free trial account with $100 VIRTUAL CAPITAL - intermediary that allows us to invest in over 75 crypto assetssome of which are also related to the world of stablecoins.

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Argentina back to collapse? Tether is the solution

Don't Pay for me, Argentina: stablecoins like new Avoid Peron at the time of block chain. At least that's how these should appear crypto-monnaies in the eyes of many Argentines who, following the resignation of Martin Guzmansaw the national currency depreciate by 15% compared to Attached Et GOit's both stablecoin the most popular.

According to reports from major exchange operating in this zone, stablecoin trading saw increases of 300% compared to what is normally recorded on a weekly basis, following the announcement of Martin Guzman. In the absence of references to the US dollar, Argentine exchanges would also have increased the spreads of 18%instead of the 2% they usually apply between supply and demand.

With devaluation and inflation (rise in May 60% on an annual basis) which has been skyrocketing for more than two years now, and with limited access to US currency, Argentines have long gravitated towards stablecoin to try to protect their assets, endangered by an economic situation that is now out of control. With the lester weaken on the American dollarstablecoins seem to be the only solution.

Stablecoin which local citizens instantly appealed to even in this case, aware of the unfortunately recursive failures on which the International Monetary Fund he turned more than once in anticipation of the smell of dead flesh. To then reappear as a saviour, putting on the balance of the recent (re)financing of a dry niet to crypto-currencies without too many compliments.

A shield for citizens, even stable

Financing of a now monstrous debt which, as a backlash, will have led to the resignation of Martin Guzmanin office since 2019? We do not know, but we certainly know that the now former Argentine Minister of Economy had seen the capital Buenos Aires Embraces Crypto Breakthrough for Paying Local Taxes.

On this occasion, the local authorities underlined the extent to which Bitcoin and other cryptocurrencies that would have ended up in municipal coffers would have been immediately converted into Argentine pesos, a sign of confidence in the national currency, despite the fierce devaluation underway.

A confidence that obviously collapsed on this occasion, with a new blow alongside a country economically, and now also politically, on its knees. Fortunately, we have several virtuous examples in the Latin field: from Panama au Mexicola crypto-monnaies they are proving to be a credible way out of international debt and yoke, despite the dark times in the markets.

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