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Electronic commerce entails the exposure of digital currencies, whose advertising appears while browsing.
The COVID-19 pandemic has increased the popularity of cryptocurrencies. These are digital currencies not controlled by the central banks of the countries and without the support of the banking systems. So they are not subject to inflationary processes that reduce purchasing power.
According to the specialized site IG, the cryptocurrency market is a network of decentralized virtual currencies, which means that works through a peer-to-peer transaction system instead of using a central server.
According to specialist Héctor Neira, cryptocurrencies allow money to be moved internationally, reducing costs and time, with traceability and transparency in all operations.
In addition, he points out that in the country there is no official figure for the number of people who use cryptocurrencies, but it is estimated that 4% or 5%. Globally, 10% of the population uses this type of currency.
Is it safe to trade cryptocurrencies in Ecuador?
There are reliable platforms like Binance and wallets own as Trust Wallet or Metamask.
In Ecuador they are used more as an investment option. “Anyone in our country can freely purchase cryptocurrency. However, they are not recognized as an official means of payment,” says Juan Carlos Gallegos, consultant at the law firm Gallegos Valarezo & Neira.
Likewise, the specialist Neira explains that the Ecuadorian law does not consider cryptocurrencies to be legal tender, but in practice and in the business world, a tangible or intangible asset could be delivered as part of payment. Since the law of the country does not prohibit investments in cryptocurrencies.
“What can be presented in the medium term is the regulation for the payment of taxes on profits made in investments in cryptocurrencies, it is important to know the concept of a profit made which occurs only when you get to sell your cryptocurrencies”, he explains. Neira.
How should I do to use them correctly?
It is necessary to train, either with free online courses or through academies where people are guided from scratch so that they can generate profits with controlled risks.
“The use of reliable and widely used platforms is essential, a starting point can be to use the Binance Exchange, which allows you to buy and sell cryptocurrencies”, adds Neira. (I)
Paul is a talented author and journalist with a passion for entertainment and general news. He currently works as a writer at the 247 News Agency, where he has established herself as a respected voice in the industry.
