Argentina Banks facilitate crypto buying and investment options

The largest bank in the nation, Banco Galicia will enable its clients to make investments in Bitcoin and other cryptos. Whereas on the other hand, Brubank, another Argentine bank that operates online, declared that it will also offer cryptos.

The rollout of crypto associates services by both financial entities started on Monday, May 2nd. On the website of the Banco Galicia, the ‘crypto’ option was added to the page of home banking; a subsidiary of Grupo Financiero Galicia, below the ‘Investments’ section. Other investments found in the menu include ‘Fixed Term’, ‘ETF’, ‘FIMA Funds’, ‘CEDEAR Stock Bonds’, and ‘Primary Tenders’.

The range of cryptos available for investments includes Ether (ETH), Bitcoin (BTC), Ripple’s (XRP), and USD Coin (USDC). All of the above-mentioned virtual currencies can be bought using Argentine pesos for a minimum investment of ARS 100 (USD 0.50).

However, there are limitations for investors related to the withdrawal of cryptos from the bank. If an investor wants to withdraw profits and capital in cryptos, they must offer them for sale at the same bank. As of now, Brubank also offered the option to acquire private digital currencies like ETH, BTC, USDC, and DAI.

Author: Diksha Khiatani

A writer by day and a reader at night. Emerging from an Engineering background, Diksha is a travel freak and anxious to explore different cultures and religions. Inclined towards the off-beat places, she wishes to uncover the secrets on her Scooty (if possible). She always grabs some time to take a quick nap, listen to music, skating and eat a brownie.

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