82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Register with Plus500 instantly
82% of retail CFD accounts lose money.

How to Buy Cryptocurrency in Argentina in 2024

Open Account 82% of retail CFD accounts lose money.
By Ashish Sood - Updated 24 March 2023
Fact Checked
While all our writers independently research and evaluate every product that we write about, this post may contain references to products from our partners that we may earn commission from. This in no way affects how we evaluate them. Find out more about how we test and how we fund this site.

Despite being a considerably new asset class, cryptocurrencies have witnessed tremendous growth over the past decade and they’re no longer a domain of nerds and traders alone. In fact, a great multitude of conventional businesses are also actively integrating virtual currencies into their operations in some way, or using them as means for launching different products.

If you’re someone seeking the best ways to buy cryptocurrency in Argentina, this guide will serve as an immensely useful reference tool for you. We’ll delve into multiple aspects of crypto purchase in the country, including regulations, modes of payment and recommended platforms. 

Where to Buy Cryptocurrency in Argentina in 2024?

There are two ways in which you can purchase crypto in Argentina – via an online exchange or an online brokerage platform.

In case of an exchange, you’ll be buying cryptocurrency directly from the market, through an appropriate trading pair. Please know, this will involve owning the actual cryptocurrency, and may therefore require you to set up a crypto wallet for its safe storage.

On the other hand, buying cryptocurrency from a broker is usually about using financial derivatives like Options, Futures and CFDs (Contract for Differences) to trade the underlying cryptocurrency in the contract. You simply bet on the future price of the concerned crypto, without transferring any actual coins. There’s no need for a wallet set-up either when dealing with a broker.

Please find below some of the top-rated online brokers and exchanges that can be used to buy cryptocurrency in Argentina.

1
Min Deposit
$ 100
User Score
5
CFDs on BTC, ETH, LTC, NEO, XRP, IOTA, EOS, BAB, ADA, TRX, XMR
No need to open a crypto exchange account or use a special wallet
Regulated Broker - FCA, ASIC, CySEC (license number 250/14)
Visit Site
Description:
Plus500 is a leading provider of Contracts for Difference (CFDs), delivering Leveraged trading on +2,000 financial instruments, including Forex, Commodities, Indices, Shares, Options and Cryptocurrencies. CySEC license number (#250/14)
Payment Methods:
American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
2
Min Deposit
$ 100
User Score
4.95
Up to $240 bonus!
Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
Trade on the world's leading social trading and investing platform
Open Account
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
Full Regulations:
CySEC, FCA
3
Min Deposit
$ 10
Promotion
User Score
4.7
Offers an intuitive and easy-to-navigate platform, making it accessible for both novice and experienced traders
Global audience, providing various deposit options and allowing users to cash out directly to their bank accounts
Cold storage for funds and two-factor authentication to ensure the safety of users’ assets
Visit Site
Description:
Bitstamp, established in 2011, is a pioneer in the cryptocurrency exchange world, offering a secure and straightforward platform for trading a variety of digital currencies. It’s known for its user-friendly design, robust security measures, and global reach, making it a preferred choice for crypto traders worldwide.
Payment Methods:
Apple Pay, Bank Transfer, Credit Card, Cryptocurrencies, Debit Card, Google Pay, SEPA
Full Regulations:
Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong

Step by Step Guide - How to Buy Cryptocurrency in Argentina

As cryptocurrencies are a completely new type of asset class, as compared to traditionally tradable assets, many new investors find their purchase slightly intimidating. We’ve tried making this process easier for you by explaining it below in 5 simple steps.

Step 1: Find an Appropriate Platform to Buy Cryptocurrency

As we begin, please keep in mind there’s no ‘Good’ or ‘Bad’ trading platform for crypto purchase in Argentina. You’ll be fine as long as you transact on a regulated portal and keep your personal preferences in mind. Make sure that apart from being regulated by any of the leading global authorities in the crypto space, the platform should also be approved by the Argentine National Securities Commission (CNV). Making all such checks will ensure the overall safety of your crypto funds.

Whereas long-term crypto buyers, that are also commonly referred to as ‘HODLers’ choose exchanges for buying cryptocurrencies, short-term crypto traders execute their trades through online brokerages, for exploiting the short-term price changes in cryptocurrencies. You should choose a platform based on multiple factors like your investment approach and trading strategy. It’s also important to factor-in the platform’s security features, regulatory status, customer care operations, charges and ease-of-use.

Step 2: Registration / Create a New Account

Once you’re clear about the trading platform you’ll use to buy cryptocurrency, you’ll need to open an account with it first. This can be done by submitting some basic details like your email ID, full name, phone number and residential address. Some portals may even allow you to cut this process short by using your already existing social media or Google account.

As specified earlier, all regulated portals will require you to verify your identity before using their services. This is mandatory as per their KYC (Know Your Customer) norms and is legally needed to comply with global financial laws. The primary aim behind these checks is to ensure that the trading platform stays secure for all entities involved. Such verification can be quickly completed if you have a valid proof of address (bank statement or a utility bill) and a government-issued photo ID (passport, national ID or driving license) ready for upload at the time of opening an account.

Step 3: Deposit Funds

Once your account has been registered and your identity verified, you’ll be able to deposit funds through the available payment methods with the corresponding broker or exchange. It is advisable that you check that the platform offers a payment mode convenient to you, beforehand. Please note, as per government policy, crypto trading platforms in Argentina cannot offer credit/debit and prepaid cards as acceptable deposit options. Hence, you’ll need to use bank transfer to deposit funds or look for alternatives like Paypal and AstroPay. A few local peer-to-peer platforms may even accept cash deposits.

Step 4: Start Trading or Buying Cryptocurrency

You can begin trading as soon as the deposited funds show up in your broker/exchange account, which may be anywhere from a few hours to a few days depending upon the payment option used.

Crypto exchanges normally facilitate easy buying of actual cryptocurrencies, which can then be stored in a web wallet integrated into their online portal. You can even move your crypto funds to an external self-owned wallet of your choice. These exchange platforms are generally the first preference of investors who prefer buying crypto ownership and holding on to their crypto coins for the long-term, hoping for their price to rise.

On the other hand, brokers specialise in enabling crypto trading through financial derivatives like Contract for Differences (CFDs), Options and Futures. These products are mainly contracts used for betting on the future prices of underlying cryptocurrencies, and hence don’t involve any actual crypto transfer or usage of a wallet.

Please note, there are exceptions when it comes to the kind of services brokers and exchanges normally offer in the market. For instance, there are exchange platforms like Binance that also offer Future and Options to the interested investors. Then there is eToro, a well-known online broker that also allows spot purchases of cryptocurrencies.

Step 5: Optional Steps

You can take a few additional steps to maximise your profit potential or security of your crypto investment/trade, for example:

  • You can transfer your crypto coins from the exchange-provided web wallet to an external wallet of your choice.

  • You can stake the purchased crypto coins, if it is allowed, using any online exchange or crypto wallet that facilitates such activity.

  • Many cryptocurrencies give holders the right to actively take part in their governance. You can exercise such an option and actively play a role in shaping that cryptocurrency’s future.

  • Crypto buyers can hedge their primary investment by opening long or short positions in the derivatives market.

What is the Best Payment Method for Buying Cryptocurrency in Argentina?  

Argentinians aren’t allowed to buy cryptocurrencies with prepaid, debit and credit cards, at the time of writing. Therefore, the most commonly used payment method to buy crypto coins in the country is bank transfer. Investors and traders also use third-party payment processors such as PayPal and AstrPay to fund their crypto investments.

  • Buy Cryptocurrency with Cash – Can buy directly in cash from 12 Bitcoin ATMs spread over Buenos Aires and Rosario; some local P2P platforms also accept cash deposits.

  • Buy Cryptocurrency with Bank Transfer – Most frequently used for crypto purchases in Argentina, but is time-consuming.

  • Buy Cryptocurrency with PayPal – Delivers a nice blend of cost and convenience, but not every platform allows PayPal deposits.

  • Buy Cryptocurrency with Bitcoin – You can easily buy any cryptocurrency with Bitcoin, at an online exchange. 

Why Buy Cryptocurrency?

The global crypto industry has been witnessing an overall upward trend these past few years, spurred on by a notable and consistent growth in various cryptocurrencies including Litecoin, Bitcoin and Ethereum. People who invested early in cryptos like Bitcoin during the early 2010s, and held onto their investments, registered exponential gains. On the other hand, the constant price volatility in the crypto industry has made many millionaires among short-term traders too.

Today, you have a wide variety of crypto investment instruments to invest in. For instance, innovative blockchain offerings like DeFi (Decentralised Finance) coins and Non Fungible Tokens (NFTs) are the recent new innovations. While crypto enthusiasts everywhere are confident that these new assets will deliver more crypto millionaires in the near future, people beginning in the crypto industry continue to ponder if it is the best time to invest right now.

As per experts, there are several valid reasons that justify both long-term investments as well as short-term speculative trading right now. If looked at closely, the crypto industry holds a huge transformational potential and is already on its way to disrupt many industries globally. It is expected to do what the Internet did to everyone’s lives back in the 90s. That being said, one must stay cautious and use all possible preventive measures to secure their interests. For example, it’s important for long-term investors to thoroughly research a coin’s fundamentals before making any substantial investment. Large-volume buyers should move their holdings to safe and well known cold hardware wallets. Similarly, short-term crypto traders must actively use orders like trailing stop loss, stop loss, take profit and others to safeguard their profits and prevent major losses.

An easy way to look at the crypto market’s performance is by studying Bitcoin (BTC), its flagship currency. BTC witnessed a bull-run early on in 2021, touching an all-time high of $ 64,863 on April 14, 2021. This was three times more than the high reached during the 2017 rally. However, it dipped multiple times thereafter, taking almost all altcoins down with it. These drops can be attributed to multiple external factors, most notably the crackdown on cryptocurrencies in China, that led to a market crash on May 19, wiping out almost all crypto gains made from January 2021. At the time of writing, BTC was hovering over the support level at $ 31,000. The entire crypto market is currently in a state of ‘Dip’ right now, making it an ideal time for investment purposes. 

Is it Legal to Buy Cryptocurrency in Argentina?

A large number of Argentinians are turning to cryptocurrencies, primarily Bitcoin, as a safe storage of value, after the government placed strict limitations on the amount of US Dollar people can buy. It is legal to trade and buy cryptocurrencies in Argentina. However, the government has introduced stringent regulatory controls to prevent money-laundering and illegal USD purchases with Pesos, through cryptocurrencies. To this end, a ban has also been placed on the purchase of crypto with debit/credit cards. Furthermore, any business wanting to deal in crypto in Argentina is required to obtain authorisation from the National Securities Commission (CNV). Find out more about taxation and legislation in our Argentina tax guide.

Buy Crypto in Argentina!

Start now 82% of retail CFD accounts lose money.

Where Can I Use Cryptocurrency in Argentina?

Placed 28th out of 154 countries on the Global Cryptocurrency Adoption Index, Argentina provides a highly conducive environment for easy and hassle-free crypto investments, trading and transactions. As evident from this page on CoinMap.org, Bitcoin is recognised as a valid mode of payment at several service providers and merchant establishments across Argentina. You can actively use BTC and a few other cryptocurrencies to transact at nightlife spots, transport services, shopping areas, grocery stores, café’s, lodging services and food outlets. Most of these businesses are located in Sante Fe, Córdoba, Rio Cuarto, Rosario, Mendoza and Buenos Aires. 

There are also 12 Bitcoin ATMs in Argentina, with 1 in Rosario and 11 in Buenos Aires. While the majority of them facilitate easy purchase of BTC, some even permit selling of BTC in exchange for cash. There’s one in Buenos Aires that allows you to buy and sell multiple cryptocurrencies including Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Ripple (XRP), Tether (USDT), Zcash (ZEC), Dash (DASH) and Litecoin (LTC).

Frequently Asked Questions

Is cryptocurrency trading taxable in Argentina?
Yes. Profits made from crypto trading in Argentina are subject to a 15% income tax for resident individuals.
Has Argentina witnessed any significant initiative for supporting its crypto and blockchain industry?
Yes. One such initiative is the Crypto Valley in the Neuquen Province that is home to over 600 crypto-compatible merchant establishments. It is also a testing ground for various academics, start-ups and businesses focused on the blockchain movement.
Is crypto mining legal in Argentina?
Yes. It is legally allowed to mine crypto in Argentina. In fact, the country is witnessing a crypto mining boom because of its highly subsidised electricity.
Is there some alternate indirect way to invest in crypto, without having to store any crypto coins?
Yes. You can opt to trade cryptocurrencies through derivatives like CFDs, Future and Options, and speculate on their price movements, without owning or exchanging any actual crypto coins. Crypto ETFs (Exchange Traded Funds) is another product that allows you to profit from crypto price movements.
Is ID verification compulsory to buy cryptocurrencies from exchanges and brokers in Argentina?
Yes. All regulated crypto trading platforms make it mandatory for users to verify their identity, before buying or trading any cryptocurrencies.
Before you go! Register with Plus500 instantly
Open Account 82% of retail CFD accounts lose money.