Bitcoins and doubts: Bitso, one of the most used cryptocurrency platforms in Argentina, broke down

Bitso, one of the most widely used cryptocurrency trading platforms in Argentina, shut down around 8 p.m. Thursday. The company acknowledged the problem via a message on the social network Twitter posted at 8:25 pm: “We have detected an interruption in Bitso’s services. We are investigating and will give updates. “

As you may know Infobae from a business source, the difficulty arose because “the waiters of the United States from our external suppliers ”. And they did not specify how long it will take to restore normal operation of the app.

Likewise, the company posted on a website a series of updates on the difficulties, given the countless messages from its investors, worried that they would not be able to access their virtual portfolio and carry out trades or, at least, estimate. their holdings. Bitso operates in Argentina, Mexico and Brazil and is estimated to have two million customers.

On the Web status.bitso.com, the company reported: “Due to a system infrastructure provider issue, there is an interruption in Bitso’s services. We are in contact with the supplier and are working with them to resolve it as soon as possible. “ He repeated the message in English and Portuguese.

Given the doubts and nerves of investors, Bitso responded to one of them via Twitter: “Our system infrastructure provider is having a problem, so there is an interruption in Bitso services, which prevents our users from accessing the account. The funds are safe ”.

When it comes to cryptocurrency trading, nerves are to be expected. And much more if you consider Bitso’s growing role on Argentina’s and regional cryptocurrency map. Although it’s difficult to rank, Bitso is one of the most used platforms in the country, where it claims 400,000 accounts.

Bitso is made up of two main products: its mobile application, developed to buy, sell and trade cryptocurrencies and accept payments with digital currencies at different trading establishments, and Bitso Alpha, a cryptocurrency trading platform for more sophisticated investors. The coins available on Bitso are Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), Basic Attention Token (BAT), True USD (TUSD), Decentraland (MANA) and DAI (DAI).

As Infobae was able to know from a company source, the difficulty arose because “the servers of the United States of our external service providers have fallen “

May’s beginning, Bitso managed to become a unicorn by making a valuation of over $ 2.2 billion. To its operations in Mexico, Argentina and Brazil, it aims to soon add another country: in January, it received an authorization from the Colombian regulatory authorities. The Mexican market has seen a huge development in the remittance segment, with remittances from Mexicans living in the United States to relatives in their country via cryptocurrencies. He hopes to progress in the Latin American market.

Founded in 2014, the platform has grown rapidly. Bitso’s CEO and one of its founders, Daniel Vogel, highlighted this process in a recent interview. “It took six years for Bitso to get its first million customers. Today, less than ten months later, we have passed the figure of 2 million users “he explained.

Bitso’s national director for Argentina, Andrés Ondarra, noted in a recent column in Infobae that “Latin America is one of the most fertile regions for cryptocurrencies “, while considering that “the Argentine crypto community is one of the most important in the world”. On the future of cryptocurrencies in the region, he expressed: “They are the “perfect solution” to the whole bureaucratic system which has been put in place in the region and which has led to high rates of inflation which affect the finances of the productive system and of individuals. “

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