Bitcoin versus dollar: which are the best cryptos to buy in Argentina in the face of the devaluation of the peso

The continuous rise of the North American currency in the country leads a growing number of savers to think of digital currencies as a refuge of value

The dollar does not stop rising and already exceeds 200 pesos for each unit in Argentina. For this reason, many savers have turned to investing in cryptocurrencies, not only seeking to protect their savings, but also seeking a revaluation of their money in the long term.

For this reason, Argentines wonder what is the best cryptocurrency to invest over the end of the year. In this sense, there are all kinds of cryptocurrencies when referring to volatility. exist the so-called stablecoins or stable cryptocurrencies, which follow the value of the dollar. On the other hand, there are the larger cryptocurrencies such as Bitcoin or Ethereum, which have not as abrupt price movements as the other altcoins or alternative cryptocurrencies (an altcoin is any cryptocurrency that is not Bitcoin). The next group is the remaining altcoins, which vary in magnitude of their volatilities.

On the whole, The favorite cryptocurrencies of most investors for the end of this year are crypto exchanges. Facundo Salto, CEO of Criptofolio, told Infobae: “Lately, almost all investors have turned to cryptocurrencies such as BNB or CRO, tokens thatThey are linked to the exchanges that have created them, and they are the ones that look the best to face 2022. In turn, next year is expected to be a year of correction, so for the most conservative, the best Options can be Bitcoin or Ethereum, since, if the crypto market falls, these are likely to fall the least. Or directly stablecoins to maintain purchasing power in dollars “.

Shiba Inu registered a sharp rise in value this year
Shiba Inu registered a sharp rise in value this year

This year, there have been projects like the cryptocurrency meme, Shiba Inu, which managed to rise more than 1,100 percent in just one month. For this, it managed to rise from 0.00000721 ​​dollars per unit, to 0.00008854. This is not the one meme-based crypto that had such huge raises. Dogecoin, its main competitor and the current largest memecoin, managed to rise more than 15 thousand percent in 5 months, going from being worth $ 0.0046 per unit, to reaching 0.74. For this reason, large investors such as Elon Musk, argue that the best cryptocurrencies are this type of memecoins.

Ramiro Marra, CEO of Bull Market Brokers, told Infobae: “There is no one cryptocurrency investment that is best for everyone. Each investor has a different profile, and is willing to take more or less risk depending on their tastes. Therefore, for some, stablecoins may be the best alternative, and for others, Bitcoin may be much better. There is even the possibility that they prefer not to invest in cryptocurrencies, and decide to turn to the traditional stock market, mutual funds, cedears, among others “

Nevertheless, there is only one cryptocurrency that takes the prize to the highest rise in the shortest possible time, and this is Zugacoin. This African cryptocurrency managed to rise 316 thousand percent in less than two weeks. It went from being worth $ 50 per unit on August 3, to trading at $ 158,000 on August 11. This rise means that, by investing $ 316, an investor could become a millionaire in 2 weeks. Anyway, these types of events happen very sporadically, and it is difficult for something like this to repeat itself, but not impossible.

In relation to this, Matías Bari, CEO of SatoshiTango, told Infobae: “The option to buy stablecoins is always available to avoid volatility, since they are tied to the value of the dollar. However, there is the possibility of buying volatile crypto, knowing that there is a risk of losing money. But, given the fragility of our currency, obviously it becomes a possible option. When it comes to the most volatile cryptocurrencies, there are more solid projects such as Bitcoin and Ethereum, and other more modern ones such as Cardano or Polkadot, which can generate higher profits, but at the same time higher losses. However, the suggestion is always that the subject be investigated so that each one makes the investments conscientiously, knowing the risk they are assuming ”.

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Reference-www.infobae.com

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