With constant changes in prices and the value of our currency, more and more Argentines are looking for different ways to protect your salary and preserve your purchasing power in the face of inflation. In this context, electronic wallets are gaining a lot of ground, but are they really a good option to combat the effects of inflation?
What are electronic wallets?
Electronic wallets are mobile applications that allow you to pay bills, receive or deposit money, make transfers to other accounts and manage your money without the need to have it in cash. In addition, they offer numerous benefits and the possibility of generating returns, which helps fight inflation.
Advantages of electronic wallets to face inflation
Using an electronic wallet offers numerous advantages. All the details:
Save in pesos or virtual dollars
Most e-wallets allow store balance both in pesos and in digital dollars and access it for any type of transaction, without suffering the times or delays of traditional banks.
Buy MEP dollar
These not only allow you to save in dollars but also most They offer the possibility of buying the MEP dollar through them, at a price that is usually lower than that of the blue dollar.
Access low risk investments
Many wallets come with the option to place the money in investment funds or remunerated accounts that yield dailywhich is a very good tool to combat inflation in a simple way and without taking the risks that more complex investments usually have.
Lower costs and commissions
Unlike the traditional banking system, electronic wallets offer lower operating costs and zero maintenance cost. With some exceptions, transfers made from there are free. In addition, they offer multiple benefits and promotions when using them to pay in certain stores, supermarkets, etc.
More comfortable and safe
To the use an electronic wallet which allows you to pay for services, charge credit to telephone lines or make purchases, it is not necessary to have cash, which is not only convenient, but also safer.
Everyone can have one
Another of the great advantages of these wallets is that they allow young people and people without traditional bank accounts access the financial system in a simple way and without major requirementswhich facilitates greater financial inclusion and promotes safer and more convenient money management in the country.
Financial inclusion and digitalization
In addition to being efficient tools against inflation, electronic wallets are accelerating the digitalization of the economy in the country, allowing people of all ages and economic sectors to access financial services.
Are electronic wallets a real solution to avoid inflation?
Electronic wallets offer two ways to combat inflation: the possibility of saving in dollars and the possibility of generating a daily return. In addition, some of them also allow you to organize your finances in graphs to know in which areas you are overspending and make the necessary modifications.
Although they are not the definitive solution to inflation, they are undoubtedly an effective tool to resist it. The possibility of investing in both pesos and dollars allows diversify savings and generate daily interest that offsetsin some way, the devaluation of the peso.
Frequently asked questions
Finally, a series of doubts that often arise when using a virtual wallet for the first time.
What do I have to take into account when using an electronic wallet?
To get the most out of the use of an electronic wallet, it is key:
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Learn about investment options: Not all wallets provide the same daily performance or use the same investment instruments, therefore, it is essential to find out about the rates and details of each particular platform.
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Take advantage of discounts and promotions– Almost all electronic wallets offer discounts and promotions when paying for products and services. Being aware of day-to-day offers is key to reducing expenses and dealing with inflation.
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Adopt security measures: It is always important to protect the account with strong passwords and measures such as two-factor authentication to avoid hacking or computer fraud.
What requirements do I need to start using an electronic wallet?
To open an account in these wallets you only need to have a mobile phone. In general, these do not ask for any special requirements, other than a ID and one selfie to confirm that, indeed, you are the account holder.
What happens if I lose access to my e-wallet account?
If you lose access to your account, most e-wallets offer recovery processes through authentication with SMS, email or security questions. For this reason, it is important to always keep your recovery data up to date.
Digitized wallets are then positioned as a useful tool to face the challenges of inflation and manage finances with greater flexibility and security.
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