Cryptocurrencies on Mercado Pago – Discover the fintech's new feature

O Mercado Pago, One of the best fintech companies today has innovated once again, now also offering the functionality to buy and sell cryptocurrencies in its app.

The new feature is not yet available to all users, but it is being rolled out gradually, so it's important to stay informed.

Therefore, be sure to read and see how they work. Cryptocurrencies on Mercado Pago.

What are cryptocurrencies?

Cryptocurrency is a virtual currency; despite its economic value, it was developed solely for use on the internet, or digitally.

Blockchain technology is what makes the magic happen. It's based on cryptography, which also ensures security and speed in transactions.

Among the main characteristics of cryptocurrencies, we can highlight first and foremost the security.

That's because there are no people involved in the transaction process with these currencies. Only mathematics and technology.

The second characteristic is that they are decentralized, meaning there is no absolute financial power controlling them, for example, the government.

In this case, the information is not saved on a central server; instead, it is shared with everyone, but at the same time, it is protected and transparent.

Finally, a major difference between cryptocurrencies and physical money is that cryptocurrencies are volatile, meaning they vary in value.

Its price can change suddenly, in fact, in a matter of seconds, going up or down.

If you buy Cryptocurrencies on Mercado Pago, You can track these variations in real time in the app.

Furthermore, you can check at a time when they are worth more than you paid and sell them.

Some cryptocurrencies were designed to be less volatile than others, but whether that's advantageous is relative.

How do cryptocurrencies work in Mercado Pago?

Currently there are three options for Cryptocurrencies on Mercado PagoBitcoin, Ethereum, and USDP.

You can choose to invest in one of the three options, or even all three options.

Open your Mercado Pago app and click on the “Crypto” option. If this option isn't available to you yet, don't worry, it will be soon.

The app's new feature is being rolled out gradually to users.

By clicking on the option mentioned above, you will see the three options and the percentage for each one.

If you have already invested in any option, your cryptocurrency balance will appear. Additionally, you can track your balance using this same icon.

As you check, you will notice that the values change constantly, that is, they go up and down.

Below this table, you'll find the option to buy or sell more cryptocurrencies on Mercado Pago.

Therefore, if you wish to perform any of these actions, click on the desired option, then on the cryptocurrency you want to buy or sell.

If you are going to buy, choose the desired amount, check how much you will pay and how much you will receive in cryptocurrencies (value at the time the transaction was made), and finalize the operation.

Certainly, you need to have a balance in your account for this investment, but you can buy it with just R$1.00.

Mercado Pago charges a 2% fee on buying and selling cryptocurrencies, certainly a minor drawback to point out.

Conclusion

We know that this type of investment carries a certain risk, because just as the value can increase, it can also decrease, and as a result, you could lose money.

Therefore, it's important to understand the market in order to know how to invest and reduce risks.

If you're a beginner, buy Cryptocurrencies on Mercado Pago It's a great option because it's simple, easy to implement, transparent, and secure.

So be sure to check out this new feature in Mercado Libre's digital wallet!

Contact: 0800 637 7246

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*Research Source: https://www.mercadopago.com.br/