Dólar cripto (Argentina’s crypto dollar)

Several dollar rates coexist in Argentina: the official rate, the MEP and CCL rates obtained by trading bonds or shares, and the informal blue dollar. The dólar cripto is one more: the number of pesos needed to buy one USDT, USDC or DAI on local exchanges and peer-to-peer markets. Because those platforms trade around the clock, it is the only dollar quote that keeps moving at night, at weekends and on bank holidays.

It became popular during the years of strict currency controls, known as the cepo, when buying dollars at the official rate was capped and crypto offered a quick way to save in a hard currency. Comparison sites and exchanges publish the buy and sell price of each platform, and the gap with the official rate is read as a gauge of pressure on the peso. After most controls on individuals were lifted in April 2025, the different dollar quotes moved much closer together.

There is no single official figure. Each exchange and each P2P advertiser sets its own price, buying and selling prices differ, and moving money in and out involves bank transfer limits, fees and the risk of both the platform and the stablecoin issuer. Comparing several sources and the cost of the full round trip gives a more realistic number than the headline rate.