Interview with Victor Egoavil, COO of Agent BTC

This entry is a summary of the interview with Victor Egoavil, Co-founder and COO of Agent BTC. To see the complete interview, access any of the following links:

1. What is BTC Agent?

It is a Peruvian cryptocurrency exchange that focuses on customer service, ease of access, and democratizing bitcoin through education. BTC Agent focuses on providing physical points, affiliating companies related to Fintech.

2. What process does a person have to follow to buy cryptocurrencies through BTC Agent?

The person has to create an account and verify it. It is worth mentioning that personal data is requested for reasons of anti-money laundering practices, so that the accounts and their operations can be verified.

3. How do you collaborate with other companies?

By using embeddable web widget technology, page owners can attach a link to a BTC broker to buy and sell bitcoin through their web pages. The idea is to discard the ideas that you have to buy bitcoin in large amounts, that you have to buy on the black market or that you have to enter a marketing network.

4. How did you start in the world of cryptocurrencies?

From personal experience I have been linked to the work of Fintech companies, then I participated in crypto mining farms of ethereum and dash.

5. Why do you think crypto mining is not scalable?

It is a problem of economies of scale, the energy systems and infrastructure in Peru are not enough. Another aspect that does not make crypto mining scalable is the difficulty in importing machines, since they are not manufactured in Latin American countries.

6. What do you think is the benefit of cryptocurrencies?

It is like having money saved from use available to use it between peers, with this you can send money anywhere in the world, which with a common and current account becomes cumbersome due to various factors, such as time and requirements to make the money cross borders. For me the greatest benefit is in the ease of sending money or value with cryptocurrencies

7. What is your favorite cryptocurrency and why?

I do not like altcoins very much, and that is why my favorite currency is bitcoin, despite the fact that many people say that it is not backed by a state or a financial institution. What happens now is that the currency is backed by the people, now that they feel confident and secured, it has become the one that has the most use.

8. Do you think Peru is ready for cryptocurrencies?

Given the context of the pandemic, it is quite satisfying to see that people are moving to digital services, which includes businesses. In the pursuit of technology adoption, Peru is in a phase where accepting cryptocurrencies as a means of transferring value would be ideal. This opens up barriers for businesses to access international markets. It is time for people to know more about this technology and to know more about its practical use. I feel that more information and exposure of practical cases of its use is lacking, the Peruvian is ingenious and will surely find a way to use cryptocurrencies to generate value.

9. What would you recommend to a person who wants to start investing in cryptocurrencies?

What I would recommend is to start small, you do not have to invest large amounts without knowing a lot about it. Another thing I would recommend is that you start reading about this because it is already a worldwide reality and it will be part of our lives just as the internet is today.

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Adolfo Morán
Adolfo is Founder and Executive Director of Lawgic Tec, a nonprofit association dedicated to research on issues of law and new technologies. General Editor of The Crypto Legal web platform and Legal Consultant in the Financial Regulation and FinTech area of ​​EY Law. He specializes in Blockchain, Smart contracts and Fintech. Email: contacto@lawgictec.org

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