Connect with us

Bitcoin

Argentina: Bitcoin [BTC] users will now be able to pay transportation charges using cryptocurrency

Biraajmaan Tamuly

Published

on

Argentina: Bitcoin [BTC] users will now be able to pay transportation charges using cryptocurrency
Source: Pixabay

Bitcoin has taken a step forward in becoming further adopted and integrated as a payment option for products and services. In 37 cities in Argentina, Bitcoin users will now be able to pay their transportation expenses by adding credit charge to their SUBE card using the cryptocurrency.

The SUBE card [standing for Sistema Único de Boleto Electrónico] is essentially a credit pass for public transport services within the Buenos Aires metropolitan area and other Argentine cities and is affiliated to the Argentine Secretary of Transportation.

The introduction of Bitcoin as a payment has been possible due to the allegiance between the two companies, Alto Viaje and Bitex. Alto Viaje is a dedicated platform which allows users to transfer funds to the SUBE card through their online platform, whereas Bitex is one of the largest crypto-related companies in Argentina and it offers blockchain and Bitcoin solutions in Argentina and across different South American countries. Bitex also specializes in imparting the necessary network infrastructure to the companies through a dedicated API integration, so that the various corporations can start offering services that use the Bitcoin blockchain.

Manuel Beaudroit, the CMO of Bitex, talked about the collaboration and said:

“We believe that these projects are very important since they bring a technology as disruptive as Bitcoin to the common people, demonstrating the real value and the applications that it has in everyday life.”

Alto Viaje decided to go with Bitex’s infrastructure for the technology and liquidity it currently owns since it is a necessary condition to face a project of this magnitude.

Luciano Verardo, Director of Alto Viaje, said:

“From Alto Viaje we want to offer safe and innovative services, the alliance with Bitex allows us to integrate the payment with bitcoins and new possibilities of financial inclusion for people and companies.”

According to bitcoinexchangeguide.com, the minimum payment in terms of Argentinian pesos is $50, which is close to $1.33. Hence, the minimum payment that can be processed through Bitcoin is 0.00039 BTC. However, a bus ride in the City of Buenos Aires will only cost a user about AR$ 18 ($0.48 or 0.00014 BTC).

Before the implementation of Bitcoin, the platform of Alto Viaje only accepted PayPal, but will soon also be processing payments through local payment provider, RapiPago.





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing. He is a Chelsea fan and a part-time poet and does not hold any value in cryptocurrencies yet.

Bitcoin

Bitcoin will likely be valued at $100,000 with a market cap of over $2 trillion before the end of 2021

Priya

Published

on

By

Bitcoin [BTC] will likely reach $100,000 with a market cap of over $2 trillion before the end of 2021
Source: Unsplash

The entire cryptocurrency market seems to be on the brighter side of the market since the beginning of the year. A majority of the coins have recorded significant recoveries from their 2018 slump, a period during which most coins lost over 90 percent of their value, when compared to their all-time highs. Among all the coins in the market, Bitcoin [BTC] aka the digital gold, was noted to be making a massive comeback as the coin breached the $11,000 mark after nearly 15 months. The coin however, soon retracted to settle below the $11,000 level.

According to CoinMarketCap, at press time, Bitcoin was trading at $10,887.27 with a market cap of $93.549 billion. The coin recorded a 24-hour trading volume of $20.757 billion for the past 24 hours and saw a massive rise of over 17 percent over the past seven days.

Anthony Pompliano, Co-founder of Morgan Creek Digital Assets, predicted that the largest digital currency could rise to reach $100,000, before the end of 2021. Pomp added that he was around 70-75 percent confident in this prediction. He stated,

“As I have previously said, making predictions is difficult […] Part of my process as a professional money manager is forming a thesis (price target), identifying a timeline (date), and establishing a confidence level. And then constantly re-evaluating those three aspects of my thought process as I receive new information.”

Pomp however, listed six pointers that have to be understood beforehand. First, this prediction is not an investment advice, and people should do their own research before investing in the digital currency. The second is with respect to Bitcoin’s volatility, with Pomp remarking that since it was a highly volatile market, the coin could witness a significant fall before being valued at $100,000. He stated,

“I anticipate that there will be numerous 20-30% drawdowns from new all-time highs as the asset continues to appreciate in value. These mini-boom/bust cycles should not cause panic, but rather need to be understood as natural market dynamics whenever an asset gains significant value in short periods of time.”

Further, the partner of the investment firm stated that the rise would be driven by several catalysts. This includes institutional adoption, exchange-traded funds and retail product approvals, global instability, governments all across the globe manipulating currencies, markets and economy. He went on to state,

“The market cap of Bitcoin will reach $2+ trillion when Bitcoin is worth $100,000. This is less than 1/3 the market cap of gold and less than 1/40 the global money supply.”





Subscribe to AMBCrypto’s Newsletter


Continue Reading