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Bitfinex Introduces P2P Trading Platform in Venezuela, Argentina, and Colombia

Bitfinex expands its reach in South America by launching a P2P trading platform in Venezuela, Argentina, and Colombia, revolutionising crypto transactions

Shashank Bhardwaj
Published: Jun 28, 2023 03:06:25 PM IST
Updated: Jun 28, 2023 07:23:37 PM IST

Bitfinex Introduces P2P Trading Platform in Venezuela, Argentina, and ColombiaImage: Shutterstock

Bitfinex, a leading digital asset exchange, has launched its innovative peer-to-peer (P2P) trading platform, 'Bitfinex P2P,' in Venezuela, Argentina, and Colombia. The platform enables users in these South American nations to directly buy and sell popular cryptos such as Bitcoin, Tether's EURT stablecoin, Tether Gold (XAUT), and Ether (ETH). 

This move by Bitfinex signifies its dedication to fostering financial freedom and inclusion in Latin America.

With the introduction of Bitfinex P2P, customers can complete transactions directly with each other outside of the Bitfinex platform, facilitating a seamless and efficient trading experience. The expansion into these countries aligns with Bitfinex's mission to promote digital asset-related financial services across the region. By providing a reliable and user-friendly P2P platform, the company aims to empower customers and give them greater access to innovative financial technologies.

Bitfinex P2P simplifies the trading process into two stages. Users create an 'Ad' indicating their intention to exchange a supported token for fiat currency or another digital asset. These users, known as 'Makers,' can then engage in trades with other customers, referred to as 'Takers,' based on the conditions defined in the Ad. To enhance security and transparency, the 'Bitfinex P2P Marketplace' offers a public profile view, allowing buyers and sellers to evaluate potential counterparties before initiating a trade. This view includes important information such as Average Payment Time, Trading Volume, and Trading Counts.

In the near future, Bitfinex plans to launch a mobile version of Bitfinex P2P, enabling customers to buy and sell cryptos on the go. The exchange also intends to introduce additional features to enhance the overall customer experience.

Bitfinex’s expansion into Latin America follows recent ventures in El Salvador and collaboration with Chile's OrionX. The company's dedication to financial freedom is evident through partnerships with organisations like Mi Primer Bitcoin and the launch of the Bitfinex Freedom Manifesto. By expanding its presence in these countries, Bitfinex aims to promote accessibility and inclusion in the region's digital asset landscape.

By expanding its reach into Venezuela, Argentina, and Colombia, Bitfinex aims to empower individuals in these countries by providing them with accessible and secure avenues to engage with digital assets and participate in the global blockchain market.

Shashank is the founder of yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash

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