The first international export using Bitcoin, has been made in Latin America
Argentina and Paraguay have processed the first export using Bitcoin; It must be said, at least officially. This was carried out with a shipment of fumigation and pest control products transferred by an Argentine merchant to his client in Paraguay. The amount of the transaction was the equivalent in bitcoins to USD $ 7,100 (that is, approximately 2 bitcoins).
This was reported on February 14, Manuel Beaudroit, CMO of Bitex, who was hired to help in the transaction. Bitex, recently made news for being one of the companies that made possible the recharge project with bitcoins of the SUBE public transport cards in Argentina.
The remarkable thing in the transaction; is that neither dollars nor theSWIFT network were used. Recall that SWIFT (Society for Worldwide InterbankFinancial Telecommunication) is an organization that is in charge of an international network of financial communications between banks and otherfinancial entities.
It is estimated that using the SWIFT network, as is usually done to maket his type of cross-border payments, this transaction would have a fixed cost between $ 120 and $ 150. Something that certainly does not help small merchants.
For its part, the head of foreign trade at Bitex, Marcelo Moscatelli,spoke to the Cripto247 media about the benefits of doing the operation with cryptocurrencies and not through other means of sending money.
He explained that, on the other hand, Bitex charges “1% for the operation, without maximum limits”, which is why it is useful especially when the transfers are in amounts of less than USD $ 15,000. They also have another advantage: instead of delaying 72 hours as on average of there mittances by SWIFT, it takes an hour.
With this; Using Bitcoin, it is possible to reduce transaction times and costs for exporters around the world. To process the transaction, the buyer communicated with Bitex and processed the transfer using Bitcoin in just one hour. In this way, the cost of this operation was close to $ 71. And Moscatelli added:
The service is always quoted in local currency. In this case Bitcoin is only a vehicle to process the payment. The exporter receives Argentine pesos, or dollars, and the buyer pays in local currency.
According to Beaudroit; With this type of initiative, efforts are made to connect the Latin American economies and make them more competitive in the markets, demonstrating the value of Bitcoin for these operations.
Bitex currently has several clients in the region. It is already processing Airbnb payments in Chile for those who want to pay between $ 150 and$ 5,000. In Argentina, it is possible to receive payments from Chile, Paraguay and Uruguay. Those who want to send funds to other countries in Argentina cando so to Chile, Paraguay, Uruguay, Mexico, Brazil, the United States, China and Australia.
Bitex provides, among other things, services for SMEs to import or export. Some advantages that arise from these services are that, depending on the amounts, the commissions can be lower and the payments faster. In addition,there is great transparency in terms of costs.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.