In inflation-torn Argentina, residents use 'crypto caves' – and avoid Bitcoin

Argentinians are using secret equals crypto Exchanges has buy WE. dollar stable coins as inflation keep on going has fly away.

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Argentinians are using black walk Exchanges, known locally as "crypto caves, » has buy WE. dollar stable coins In A offer has escape strict currency controls And three digits inflation of THE Argentine peso (ARS), And are would have avoid Bitcoin (BTC) due has perceived volatility.

Cryptocurrency caves are underground equals Exchanges Operating secretly And go home far In "non visible places," Crypto Market strategic wedding rings director Guillermo Escudero said Cointelegraph.

"He East not A normal commercial place with public attention. They are hidden places Or A go with Before confirmation has meet And can change their local decree money against cryptocurrencies, Above all USDT. »

Escudero said that Locals can get A far better rate that THE official exchange rate if they to use such crypto caves. Local banks can't officially accept dollars, SO crypto wallets to have become popular has store dollar-indexed stable coins as Attached (USDT).

"Having THE ability has to safeguard In 'digital dollars' allow Argentinians has to safeguard money In THE long run as THE local currency lose value," Ramiero Raposo, vice president has crypto pay farm Bitwage, said In A note has Cointelegraph.

I lived In Argentina Since 14'-17' Or I had has go has A 'cave' each month has illegally sell My pesos has buy USD, just SO I could guarantee A flight House each year. Anybody WHO doesn't to understand Why crypto/challenge East revolutionary East life below A rock. #bitcoin #El Salvador pic.twitter.com/IxwjS8Tv5G

— Rich Kane (@richkane...