In times of financial uncertainty, the major instinct of any economic investor is to try to protect their capital and transforming it into assets that are unaffected by economic or political turmoil. In major cases gold and the dollar are two favored assets typically used by investors for such purposes. Bitcoin has quickly attained such position.

Citizens of several countries have begun turning onto the cryptocurrency as an asset for safeguarding funds. <a href="https://en.wikipedia.org/wiki/2019_Venezuelan_presidential_crisis">Venezuela</a> was the first case situation and now Argentina, has joined in such practice.
<h3>Bitcoin Is Seen As An Alternative To The Argentina Peso</h3>
Argentina has been undergoing a mini financial crisis due to the instability created by the unexpected election results. This has seen a dramatic fall of the national currency the Peso with many Argentine looking to cryptocurrencies as a means of saving their money from depreciation.

According to reports from the crypto community in the country, there has been a rise in the number of people adopting Bitcoin as a financial instrument. In addition, the increasing adoption is also partly due to the Argentine government setting a maximum limit for purchase of foreign currency to $10,000 monthly.

Rodolfo Andragnes, the president of the NGO bitcoin Argentina believes that many capital and local investors do not trust the future of the Argentine economy. According to him

<em>Bitcoin is a valid alternative for Argentines in times of stocks and an opportunity to understand why it is the best value reserve for the future of their children</em> ."
<h3>Anthony Pompliano Believes More Currencies Will Suffer Similar Fate Like The Peso</h3>
This opinion is supported by Anthony Pompliano, the famous crypto influencer, who through a tweet earlier in August wondered for the Argentine peso will not be the first of many fiat currencies to disintegrate in a monetary crisis.

https://twitter.com/APompliano/status/1160935808926228481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1160935808926228481&amp;ref_url=https%3A%2F%2Fcriptotendencia.com%2F2019%2F09%2F03%2Flos-argentinos-pagan-hasta-un-20-mas-para-comprar-bitcoin%2F
<h3>Despite High Transaction Fees More  Argentines Turning To Bitcoin</h3>
However, not everything is as beautiful as it could be, as there exists a current situation which makes purchase of Bitcoin expensive for Argentines. Since there is a limit to the number of dollars that can be purchased per month.

Many Argentines have to purchase Bitcoin directly with their Pesos. This makes it expensive as many exchanges charge a premium  of up to 20% to process transactions.

Despite this, the interest has not waned within the country as Bitcoin is seen as <a href="https://www.cryptoknowmics.com/crypto/looming-cryptocurrency-demand-will-boost-demand-for-gold-mark-mobius/">long term security</a> for their investments.

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Bitcoin Continues Gain Relevance In Argentina Despite Rising Transaction Fees

I am olowoporoku adeniyi, writer, editor and crypto evangelist, with five years experience in the Blockchain industry.

Bitcoin Continues Gain Relevance In Argentina Despite Rising Transaction Fees

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