First Export Through Argentina To Paraguay Customer Made Using Bitcoins

Innovation, Investing, News, Regulation | February 24, 2019 By:

Bitcoin to the rescue of foreign trade. Bitex provides financial services in blockchain and has just announced that the first official customs operation paid with bitcoins was successfully carried out. In this case, it is a seller of fumigation and pest control products who wanted to export merchandise for a value of $7,100 US dollars to Paraguay.

“The costs of the swift network are minimum and fixed costs that range between 120 and 150. If you export 5 million dollars, the cost is liquefied.It is designed for large players and important amounts, said Marcelo Moscatelli, in charge of the commercial part of Bitex.

On the other hand, Bitex charges 1% for the operation, without maximum limits. Although it stops being cost competitive at around $15,000, it has other value propositions, such as speed. Instead of delaying almost three days, the payment is specified in one hour.

“The service is always quoted in local currency. In this case, bitcoin is just a vehicle to process the payment. The exporter receives Argentine pesos, or dollars, and the buyer pays in local currency,” said Moscatelli.

Bitex, which, among other customers, processes Airbnb payments in Chile, offers this service especially to those who seek to make micropayments, between $150 and $5,000 dollars. From Argentina, it can be used to charge from Chile, Paraguay and Uruguay, and to pay suppliers in the same countries, plus Mexico, Brazil, the United States, China and Australia.

This story originally appeared in Spanish at Cripto247