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Ualá begins the use of cryptocurrencies to make transactions in Argentina

The platform, which has 4.5 million users in the country, will allow you to acquire Bitcoin and Ethereum. REUTERS/Dado Ruvic

The Argentine fintech walawhich already has more than 4.5 million users in the country, has joined the cryptocurrency ecosystem and now allows its customers to buy and sell Bitcoin Y ethereumthe highly valued tokens in the market, with simple operations and in a few steps.

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The announcement was made during an exclusive event in the metaverse, where Pierpaolo Barbieri, its founder and CEO of the company stated that people who are clients of Ualá will be able to enter the new section of the app, which is called Crypto. The enabling of this space will be progressive, but those who wish to have access can register in a waiting list at uala.com.ar/crypto.

According to Web page of the platform, with this new function within the appusers will be able to acquire either of the two cryptocurrencies for the purchase of products with a card or QRmaking payments for services or recharges and collecting money with Ouala Bis.

Ualá event in the metaverse.
Ualá event in the metaverse.
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To start using this new functionality people must enter the section of Investments within the app walathen they must select the Cripto-Uanex option and create an account in Uanex, a company that is part of the Ualá ecosystem and will offer the purchase – sale of cryptocurrencies on the platform.

Currently customers of wala they will be able to buy and sell in pesos Bitcoin (BTC), in addition to ethereum (ETH), the most popular cryptocurrencies in the international market, with a $250 minimum investment. According to the company, this first step in the crypto market is the beginning of a growth path within this economic trend that has become relevant in the country.

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According to him Cryptocurrency Adoption Index 2022 presented by Chainalysis, a company specialized in blockchain analysis in different countries, Argentina ranks 13th of the world ranking in the use of cryptocurrencies. At the level of the Latin American region, it ranks several positions behind Brazil (7th) and surpasses other countries such as Colombia (15th), Ecuador (18th), Peru (35th), Bolivia (42nd), Chile (56th), Uruguay (83rd) and Paraguay (95th).

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Argentina is ranked 13th in the Cryptocurrency Adoption Index 2022. (Capture)
Argentina is ranked 13th in the Cryptocurrency Adoption Index 2022. (Capture)

How to buy cryptocurrencies using Ualá

If a person is new to the platform wala and you will use it for the first time, the steps to follow are very similar to those carried out by current clients of the application:

– Enter the section Investments inside of app.

– Select Cripto-Uanex, register as a user and choose the option to To buy.

– Indicate the crypto of your choice, be it Bitcoin or Ethereumin addition to the amount to be purchased or, failing that, the amount of Argentine pesos that you want to purchase.

-Once the set amountthe user can check the quote and accept if he is satisfied with it.

– Once the process is finished, customers will be able to see their cryptocurrencies in the My Cryptos within the app.

According to the platform walathe users of the application will be able to carry out these operations in any moment 24 hours a day, 365 days a year, so availability will depend solely on people’s connection to an internet network.

Ualá users will be able to buy cryptocurrencies at any time 24 hours a day, 365 days a year
Ualá users will be able to buy cryptocurrencies at any time 24 hours a day, 365 days a year

“For a long time our users have asked us for the possibility of investing in crypto in addition to being able to do it in pesos through the Ualá application. That is why we are excited to continue strengthening our ecosystem of products (…)”, said Andrés Rodríguez Ledermann, Vice President of Wealth Management at Ualá.

Furthermore, he added that the company is confident in the growth potential of the crypto industry. “We will continue working for financial education and access to different investment alternatives in a simple and digital way,” he concluded.

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