Tuesday , April 20 2021

Students create a Bitcoin purchase service on Cuba | CriptoNoticias

Carlos says Cuba works commercial with cryptic currencies, with some of their clients convinced to gain profits with operations. The current minimum purchase amounts to 150 Cuban Convertible Pesos (CUC), or about $ 150, with a 10% charge per operation. In the event that a user wishes to buy a lower amount of bitcoin, their request will be considered as a group until the interested parties reach the specified amount.

In relation to these aspects, Carlos explained that "the commission varies by 10%, is not always fixed in that number. feedback that we get from the user, we negotiate that minimum amount. We just stopped giving them an agent and we made a CUC transaction using magnetic cards, which allows us to reduce that minimum CUC per transaction. "

The vision of the group is to become, in the future, the first crypto-house exchange house in Cuba and add other circus to its offer. "We hope to achieve this by earning good voice at our customers and providing good service."

Monetary duality

There are 2 official currencies on Cuba: Cuban Convertible Pump (CUC) and Cuban Peso (CUP). The first began trading in 1994, the same as the US dollar, and is intended for foreigners to use them to pay for products or services on the island. The other is known as the national currency because it is more popular among the Cuban population. The main difference between these two is that the convertible weight equals 24 cubic pesos, which means 1 cubic weight is 24 times smaller than the money pair.

Although the convertible weight parity is tied to a dollar of 1: 1, at the time of exchange of $ 100, for example, the commission is applied to him and 10% of the tax, which means that the person actually gets about 86 CUC, roughly. With regard to the service created for the purchase of Bitcoin on Cuba, its promoters offer a replacement currency in exchange for convertible weight.

At this point it should be noted that, although the BTC purchase mechanism has begun to work, mediation between platform and user is embedded, This extra step, which eliminates the nature of peer-to-peer operations, respects the controls that exist in Internet access on the island, where few users access the network. The cost per hour for Cuban public WiFi is $ 2, while Cuban earns on average $ 20 a month.

Cuban bitcoin operations began to be registered in July 2015. 3 years ago Fernando Villar, founder of BitcoinCuba.org, received about $ 20 from Chris Groshong, executive director starting CoinStructive, offering services and platforms for small traders to work with cryptoscopes.

Featured image promesaartstudio / stock.adobe.com

Source link