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DeFi and Credit Risk
Argentinians are rushing to take advantage of the growing peer-to-peer (P2P) market
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.
P2P marketplaces are managed by many exchanges in Argentina, which operate as platforms to connect individuals who want to exchange cryptocurrencies for fiat currency. Binance, Paxful, Airtm, Okex, and Localbitcoins are just a few of them.
Earnings and Growth
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 saw a significant increase from the previous 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.
