Why save in dollars?
When you save only in your local currency, all your savings depend on the behavior of that currency.
If it loses value against the dollar, it also decreases how much you can buy in dollars with those same savings.
That's why some people preferdiversify and keep a part of your money linked to the dollar.
It doesn't mean stopping using weights.
It means not necessarily having all your savings in one currency.
🇦🇷 Save in dollars from Argentina
In Argentina, saving in dollars is part of the financial culture of many families.
For years, many people have purchased physical dollars as a way to keep part of their savings out of the Argentine peso.
But today there is another alternative:
digital dollars.
Instead of buying bills and looking for where to store them, you can access digital assets designed to maintain a value close to the US dollar.
For example,USDC.
This way you can keep a part of your savings linked to the dollar from a compatible application.
🇨🇱 Save in dollars from Chile
In Chile it may also make sense to diversify part of your savings.
Even if your daily expenses are in Chilean pesos, keeping a part of your savings linked to the dollar can help you not depend solely on the behavior of one currency.
This may be especially relevant for people who:
travel abroad
they buy international products
receive or send money outside of Chile
they simply want to diversify their savings
And thanks to digital dollars, you no longer need to have physical bills to do so.
What is a digital dollar?
A digital dollar is an asset designed to maintain a value close to1 US dollar.
An example isUSDC.
Think of it simply:
Instead of having a dollar bill in your wallet, you have a digital representation of the dollar that you can manage from your cell phone.
👉What is a stablecoin and why do millions use it?
Physical dollars vs. digital dollars
Both can give you exposure to the dollar, but they work differently.
Physical dollars | Digital dollars |
|---|---|
You need to save the bills | They are managed digitally |
You can lose them or suffer theft | They depend on the security of your account and platform |
To move them you need cash or an intermediary | Can be transferred digitally |
Physical access | Access from cell phone |
Difficult to send to another country | Can be transferred over compatible digital networks |
No option is risk-free. The important thing is to understand how each one works.
👉Physical dollars vs. Digital dollars: what's the difference?
What happens if the exchange rate changes?
Here is one of the most important parts.
Suppose you have100 digital dollars.
Even if the exchange rate changes, you still have approximately the same 100 digital dollars, subject to the behavior and risks of the stablecoin.
What changes isHow much are those dollars worth when you convert them to Argentine pesos or Chilean pesos?.
If the dollar rises against your local currency, your dollars will have a greater value expressed in pesos.
If the dollar falls, they will have a lower value expressed in pesos.
👉What happens to your digital dollars if the exchange rate changes?
Do I have to buy many dollars?
Not necessarily.
One of the advantages of digital money is that you can start with small amounts.
Instead of waiting until you have a large amount of money, you can build the habit little by little.
For example:
a small amount each week or each month.
This strategy allows you to save constantly without trying to guess what will be the best time to buy dollars.
Why do it from your cell phone?
Because it eliminates many of the complications of cash.
You don't need:
Save tickets
Transfer cash
Look for an exchange house every time you want to buy
Physically manage your dollars
You can check and manage your savings from an application.
And what does Bitsave have to do with it?
Bitsave seeks to make saving on assets likedigital dollars, Bitcoin and other instruments available on the platformbe simple.
From a single app you can manage your savings and start little by little, without needing to understand all the technology behind it.
The idea is simple:
Saving dollars should feel as easy as saving from any other app.
Argentina or Chile: the idea is the same
The economies are different.
The currencies are different.
And the reasons for saving can also be different.
But in both Argentina and Chile, keeping a part of your savings linked to the dollar can be a way todiversify your money.
It is not about choosing between:
pesos OR dollars.
You can also think about:
pesos and dollars.
Conclusion
Saving in dollars no longer necessarily means buying physical bills.
Digital dollars allow people inArgentina and ChileThey can keep a part of their savings linked to the dollar and manage it directly from their cell phone.
The exchange rate can go up or down and no alternative is risk-free.
But today there are more tools to decidehow you want to save and diversify your money.
And getting started can be much easier than it seems.